FXRoad

Overview of FXRoad

FXRoad, registered in Seychelles, offers forex and potentially other CFD trading with leverage up to 1:200. They cater to a variety of traders through Silver, Gold, Platinum and Islamic accounts, though minimum deposit requirements are not listed. Spreads start at 1.4 pips and they charge zero commission on trades. FXRoad offers a web platform and mobile apps for Android and iOS devices. Customer support is available via live chat and email.

Regulation

FXRoad currently does not appear to be regulated by any major financial authority. Regulation helps protect traders by ensuring brokers adhere to certain standards. The lack of regulation means it's advisable to proceed with caution and thoroughly understand the risks involved before trading with FXRoad.

Pros & Cons

FXRoad offers a variety of tradable instruments, competitive spreads, commission-free trades, and caters to different experience levels with multiple account options. However, they lack educational resources and transparency about company policies. Most importantly, FXRoad isn't regulated, which exposes traders to potential risks.

Market Instruments

Forex trading platforms typically provide access to a variety of tradable assets including:

Forex Currency Pairs: This is the core instrument in forex trading, allowing speculation on the relative value of two currencies.

Commodities: These can include oil, gold, or agricultural products like wheat or corn.

Indices: Major stock market indexes like the S&P 500 or the FTSE 100 can be traded.

Shares: Individual company stocks might also be available for trading.

Account Types

FXRoad offers four account types: Silver, Gold, Platinum and Islamic. All accounts offer leverage up to 1:200, 0% deposit commission and tight spreads. However, they differ in minimum spreads offered and target audience. Silver accounts are designed for new traders with a minimum spread of 2.6 pips. Gold accounts are for traders looking for more potential trading opportunities with a minimum spread of 2.0 pips. Platinum accounts are designed for experienced traders looking for an intensive trading experience with a minimum spread of 1.4 pips. Islamic accounts are designed for traders adhering to Islamic finance principles with no night rollovers.

How to open an account

1. Register: Fill out a form and FXRoad will verify your information quickly.

2. Deposit: Fund your account with a credit card without incurring commission fees.

3. Start Trading: Choose any asset you want to trade from their selection.

Leverage

FXRoad offers leverage up to 1:200, which can magnify your potential returns. This high leverage is available across all their account types (Silver, Gold, Platinum, and Islamic).

Trading Platform

FXRoad caters to a variety of trading styles by offering a trio of platforms: Android App, iOS App, and WEBTRADER. This ensures flexibility for on-the-go traders through the mobile apps, while also providing a potentially more robust desktop experience with WEBTRADER.

Customer Support

FXRoad offers multilingual customer support via email (support@fxroad.com) and live chat. Their hours are comprehensive, covering weekdays (GMT 5:00 - 18:00) and extended weekend hours (Saturday & Sunday, GMT 7:00 - 16:00). This ensures you can receive assistance whenever you need it, regardless of your location.

Conclusion

FXRoad, a Seychelles-based forex broker launched offers various tradable instruments, competitive spreads, and commission-free trades, and caters to different experience levels with multiple account options. Their mobile apps and web platform provide flexibility for on-the-go trading or a potentially more robust desktop experience. However, the lack of regulation and transparency about this brokerage still remains a huge risk.

FAQs

Is FXRoad regulated？

No, FXRoad does not appear to be regulated by any major financial authority. Regulation helps protect traders, so proceed with caution if considering FXRoad.

What account types does FXRoad offer？

FXRoad offers Silver, Gold, Platinum and Islamic accounts. Each caters to a different experience level with varying minimum spreads.

How can I deposit funds into my FXRoad account？

FXRoad allows deposits with credit cards without incurring commission fees.

Risk Warning

Trading online carries inherent risks, including the potential loss of your entire investment. It's essential to recognize that online trading may not be suitable for everyone, and individuals should carefully consider their risk tolerance before participating. Additionally, please be aware that the details provided in this review are subject to change as companies update their services and policies. Therefore, it's advisable to verify the most up-to-date information directly with the company before making any trading decisions. Ultimately, the responsibility for utilizing the information in this review lies solely with the reader.