Broker Review: FXOro

As I go through my email this morning, there’s an email from the readers asking for a review on a Forex brokerage, FXOro. In this brokerage was established in 2012 with a few young entrepreneurs who worked in banking. They believe that their advantage over the other players in this market, is that they have extraordinary leadership and a “visionary approach on brokerage transactions.”

The company is under MCA Intellifunds Ltd. and are regulated by the Cyprus Securities and Exchange Commission, as an investment firm with liicense no. 126/10. The brokerage is located at Petrou Tsirou 82, Mesa Geitonia, 3076, Limassol, Cyprus. Support can be contacted via phone at either +357-25-20-5555, +44.203.695.4194 or email at cs@fxoro.com.

For a list of compatible EA’s you can use with this broker, please go here.

FXOro Review

Let’s start by taking a look at the trading account offerings by FXOro. There are currently 3 different account types to choose from. Each account type is very similar with the main difference being how they approach the market spread.

• Fixed Spread Accounts

In order to qualify for the fixed spread account traders need to deposit a minimum of $250. This gives them the opportunity to utilize a maximum leverage of 1:400, and the minimum spread is 2 pips. With this account type you can hit a full margin call, there is no commission and Islamic accounts are optional.

• Variable/Floating Spread Accounts

For the second FXOro account type traders are required to deposit a minimum of $1000. This provides a leverage up to 1:200 and a spread at 1.2 pips again, there is no commission for this account, Islamic accounts are optional and the Max margin call will still leave you with 25% of your account.

• ECN Accounts

The final trading account type is the ECN, which requires a deposit of $5000. Here you can take advantage of a 0 pip spread, but are required to pay a $6 commission per lot. Islamic accounts are available, the max margin call is 50% and max leverage is 1:100.

FXOro Advantages

The FXOro team believe they are the best because of their client support, diversified trading and collection of advanced tools available to the public.

One of the more interesting tools they provide, is their real time market signals. On the main website they provide trading signals for different pairs, and assets. They use indicators to find these trade opportunities and then provide them to their clients with a take profit target, and stop loss included.

There is a button labeled “notify me,” that will inform traders on when these signals are available.

I have not yet tested these signals, but it’s an interesting concept.

Conclusion

Obviously, there is much more to the FXOro brokerage but this is just the beginning of the review. Now, is your time to leave comments and let the Forex Robot Nation readers take advantage of your contributions. For today, I’ll be providing a 3 star review and then based on the feedback of the community I will either push this up to 4, or down to 2. So, let’s hear about your experiences and get a better understanding from the wonderful trading community we have here.

Thanks for stopping by, and email me any time!