FXRoad Forex and CFDs broker full Review of all features

FXRoad is a regulated Forex and CFDs broker. The website of FXRoad is owned and operated by 4Square SY Ltd, which is a financial services provider company registered in Seychelles and Cyprus and regulated by the FSA of Seychelles. FXRoad is focused on a simplistic approach and has a very well-designed website with well-ordered sections. It offers transparent information about all of the broker’s services including deposits, withdrawals, and fees.

FXRoad Safety Overview

FXRoad is overseen by the Financial Services Authority (FSA) of Seychelles. The broker follows strict rules and regulations and has several safety policies to ensure trader protection. There is a negative balance protection, preventing traders from losing more than their initial investment. This policy ensures traders can not go into minuses if they blow up their accounts. Another important policy is that FXRoad keeps traders’ funds in segregated bank accounts with trustworthy institutions, ensuring its employees can not touch client funds. There are also AML (Anti-money laundering) and KYC policies ensuring traders are operating in a safe trading environment.

Is FXRoad regulated in South Africa?

While not regulated in South Africa by the Financial Sector Conduct Authority (FSCA), FXRoad accepts clients from the African region, providing them with a competent trading environment. The broker is especially dedicated to Islamic accounts and provides super-low spreads from 0.6 pips on swap-free accounts.

FXRoad review of the website

FXRoad comes with a very appealing website that is easy to navigate and user-friendly. All critical details about accounts, payments, and support are clearly given in several menu sections, providing a quick overview of all the services offered. Traders have an opportunity to find any important detail very easily using the FAQ section and contact support via live chat. Overall, the website of FXRoad is professional and simplistic, and it is not overloaded with unnecessary functions

FXRoad Broker Main Features

Let’s continue our review to include other important features of the broker after safety. FXRoad has a diverse range of account types and financial markets. The broker allows traders to speculate on Forex pairs, cryptos, stock CFDs, indices, and commodities all with flexible leverage and zero commission without hidden fees.

Spreads and Fees

FXRoad has various spreads depending on the account type. Islamic accounts come with 0.6 pips, Silver accounts start from 2.6 pips on major pairs, gold accounts have 2 pips, and Platinum accounts have 1.4 pips spread on major FX pairs. All accounts come with zero commission based on the trading volume. Islamic accounts have zero swaps, while Platinum and gold come with 50% and 25% discounts on swaps. Silver accounts have standard swap fees without discounts, unlike gold and Platinum accounts.

Deposits and Withdrawals

All deposits and withdrawals can be paid without fees, which is very attractive. The minimum deposit starts from 250 EUR or equivalent in USD and accepted payment methods include Apple Pay, Google Pay, Visa, and MasterCard. Withdrawal processing requires 1-2 business days for online payments and 3-7 business days for wire transfers. While the broker is not charging the withdrawal fees, the banks and other payment providers might.

Trading Assets and Leverage

FXRoad provides access to diverse financial instruments in a wide range of asset classes including Forex pairs, indices, commodities, cryptos, and stock CFDs. All the markets are accessible at a flexible leverage, which is variable depending on the asset class traded:

• Forex pairs — 1:200
• Indices — 1:50
• Stock CFDs — 1:10
• Commodities — 1:50
• Cryptocurrencies — 1:5

Stock traders can access markets with 10 times their account balance, which is a very solid offer. The leverage on cryptos is also very flexible, as many brokers won’t allow more than 1:2 for these risky assets.

Trading Platform

FXRoad provides access to all the assets using its proprietary trading platform, which is web-based and can also be installed on mobile devices. The platform, while not on par with more advanced popular platforms like MT4 and 5, is powered by TradingView charts and provides all the useful features. FXRoad trading app allows traders to trade all instruments including stocks and cryptos in one space using one flexible platform. Still a bit of a downside, there are no other platforms available at the moment.

FXRoad Account Types

FXRoad provides a diverse selection of trading account types targeted at various purposes. These accounts are silver, gold, and platinum. There is also an advanced Islamic account with 0.6 pips spreads and 1:200 leverage, providing traders with the possibility to trade without swaps and commissions. Additionally, there are no hidden fees of any sort. So, what you see, you will get for trading.

The FXRoad demo account provides up to 100,000 virtual cash to test the broker’s services and develop and test trading strategies.

The FXRoad Silver account comes with a 250 EUR minimum deposit, also 1:200 leverage like other accounts, and spreads from 2.6 pips which is expensive. There is no discount on swaps. The silver account by FXRoad is targeted at experienced traders who employ swing trading and day trading strategies and is not aimed at scalpers. Swing traders can enjoy a commission-less trading experience. Silver accounts have no educational resources, and many other services are offered for gold and platinum accounts.

FXRoad gold account comes with a 25% discount on swaps, spreads from 2 pips, and 1:200 leverage. The account has several advantages when compared to Silver including bonus services such as dedicated support, a dedicated account manager, educational videos, webinars, and more. There are no news alerts for gold accounts, a feature offered only for platinum accounts. All accounts also come with allowed hedging possibilities and pricing is fifth-decimal.

Live Chat and Support

FXRoad provides excellent support for all traders with its live chat, email, and hotline channels. Live chat is the most convenient way to contact broker representatives and resolve any issues quickly. The website of FXRoad and support are multilingual, allowing traders to access help and websites in several different languages. Users can just enter their name in live chat and start chatting.

FXRoad Educational Resources and Tools Available

FXRoad provides educational services to its gold and platinum account holders. These educational materials are custom and high quality and include educational videos and webinars. After learning from videos, traders can improve their knowledge with webinars, which is the best form of education where traders can ask questions and get answers about various trading concepts.

Can You Trust FXRoad?

FXRoad offers a robust Forex and CFDs trading experience as it is a regulated broker overseen by the FSA of Seychelles, providing a secure and transparent trading environment with a focus on simplicity and user-friendliness. The broker caters to a wide range of traders with its diverse accounts and competitive trading conditions such as low spreads and zero commissions. It offers Forex pairs, cryptos, stock CFDs, indices, and commodities on its proprietary platform available on both desktop and mobile.

Overall, FXRoad seems like a solid choice for swing traders and day traders because of its zero commissions. The broker is very attractive for its low-spread Islamic accounts as well, with 0.6 pips on major pairs.