FXRoad Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-07 18:35

Abstract：FXRoad, registered in Seychelles, is a newly-established unregulated broker, offering trading on Major currency pairs, Shares of top global companies, Cryptocurrencies, and Commodities with leverage up to 1:200, variable spreads on different account types and no commissions. Demo accounts are available, and the minimum deposit requirement to open a live account is as high as 250 EUR. Instead of the leading MT4 and MT5, trading platforms available are Webtrader, TradingView, and FXRoad App (iOS, Android).

FXRoad Review Summary
Founded	2023
Registered Country	Seychelles
Regulated	Not regulated
Market Instruments	Major currency pairs, Shares of top global companies, Cryptocurrencies, Commodities
Demo Account	✅($100,000 in virtual fund)
Leverage	Up to 1:200
Spread	From 2.4 pips (Silver account)
	From 1.8 pips (Gold account)
	From 1.2 pips (Platinum account)
Trading Platform	Webtrader, TradingView, FXRoad App (iOS, Android)
Min Deposit	250 EUR
Customer Support	Service time: 05:00 - 18:00 GMT / Monday – Friday; 07:00 - 16:00 GMT / Saturday – Sunday
	Live chat, contact form
	Brazil: +5561947565589
	India: +911171279109
	Email: support@fxroad.com
	Social media: Facebook, Instagram, Twitter, LinkedIn
	Registered address: CT House, Office 9A, Providence, Mahe, Seychelles
Regional Restrictions	USA, Canada, the European Union, Iran, Iraq, Syria, North Korea, Sudan

FXRoad Information

　　FXRoad, registered in Seychelles, is a newly-established unregulated broker, offering trading on Major currency pairs, Shares of top global companies, Cryptocurrencies, and Commodities with leverage up to 1:200, variable spreads on different account types and no commissions. Demo accounts are available, and the minimum deposit requirement to open a live account is as high as 250 EUR. Instead of the leading MT4 and MT5, trading platforms available are Webtrader, TradingView, and FXRoad App (iOS, Android).

Is FXRoad Legit?

　　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

Pros	Cons
• Various trading instruments to trade	• Operates without regulatory oversight
• Offers multiple account types	• Tight spreads
• Demo accounts available	• High minimum deposit (250 EUR)
• Open and equitable trading environment with no commissions	• No MT4/5
• Three choices of trading platforms	• Lack of educational resources
• Multiple contact channels	• No 24/7 customer support

Market Instruments

Tradable Instruments	Supported
Major currency pairs (EUR/USD, etc.)	✔
Shares of top global companies (Netfilx, Amazon, etc.)	✔
Cryptocurrencies( Bitcoin, etc.)	✔
Commodities (oil, gold, etc.)	✔
Indices	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

　　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.

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).

FXRoad Fees

Account Type	Spread	Commission
Silver	From 2.4 pips	❌
Gold	From 1.8 pips
Platinum	From 1.2 pips

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
Webtrader	✔	Web	/
TradingView	✔	Web	/
FXRoad App	✔	iOS, Android	/
MT4	❌	/	Beginners
MT5	❌	/	Experienced traders

Deposit & Withdrawal

Payment Option	Minimum Deposit	Minimum Withdrawal	Deposit Fee	Withdrawal Fee
Visa	250 EUR	50 EUR	❌	❌
MasterCard
Maestro
Apple Pay
Google Pay