FXORO Review - Is It a Good Forex Broker? - WikiFX
Abstract：FXORO is authorized and regulated by CYSEC and FSA, a brokerage firm offering online Forex and CFD trading services on the MT4 trading platform.
| FXORO Review Summary | |
| Founded | 2022 |
| Registered Country/Region | Seychelles |
| Regulation | CYSEC, FSA, FCA (Revoked) |
| Market Instruments | Currencies, commodities, indices, shares, cryptos and ETFs |
| Demo Account | / |
| Leverage | Up to 1:400 |
| Spread | From 1.0 pips |
| Trading Platform | MT4 |
| Minimum Deposit | / |
| Customer Support | Contact form |
| Phone: +442031290670 | |
| Email: info@global.fxoro.com | |
| Address: Suite 3, Global Village, Jivans Complex Mont Fleuri, Mahe, Seychelles | |
| Regional Restrictions | / |
FXORO is the trademark of MCA INTELIFUNDS LTD (authorized and regulated by CYSEC and FSA), a brokerage firm offering online Forex and CFD trading services, founded in 2022. It offers various trading instruments through MT4 trading platform. However, their licence of FCA has been revoked.
Pros and Cons
| Pros | Cons |
| Regulated by CYSEC and FSA | FSA (Revoked) |
| Islamic accounts provided | Higher spread set |
| Multiple trading instruments | Limited information related to deposit and withdrawal |
| Flexible leverage ratios | |
| MT4 provided |
Is FXORO Legit?
FXORO is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and The Seychelles Financial Services Authority (FSA). But the license of Financial Conduct Authority (FCA) has been revoked.
| Cyprus Securities and Exchange Commission (CYSEC) | |
| Regulatory Status | Regulated |
| Regulated by | Cyprus |
| Licensed Institution | MCA Intelifunds Ltd |
| Licensed Type | Market Maker (MM) |
| Licensed Number | 126/10 |
| The Seychelles Financial Services Authority (FSA) | |
| Regulatory Status | Offshore Regulated |
| Regulated by | Seychelles |
| Licensed Institution | ORO FINTECH LIMITED |
| Licensed Type | Retail Forex License |
| Licensed Number | SD046 |
| Financial Conduct Authority (FCA) | |
| Regulatory Status | Revoked |
| Regulated by | United Kingdom |
| Licensed Institution | MCA Intelifunds Ltd |
| Licensed Type | European Authorized Representative (EEA) |
| Licensed Number | 571351 |
What Can I Trade on FXORO?
FXORO offers currencies, commodities, indices, shares, cryptos and ETFs. Overall, you have a good mix of investment options.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Shares | ✔ |
| ETFs | ✔ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
There are 2 different accounts in FXORO including the Fixed and the Floating accounts. Besides, they also offer Islamic Accounts.
Leverage
FXORO provides flexible leverage options for various trading products and accounts, with the leverage ratios spanning from 1:2 to 1:400. To learn specific leverage, you can click: https://orofintech.com/en/trading-conditions/.
FXORO Fees
FXORO offers diverse spreads for different trading instruments and accounts. The spreads start from 1 pips, and they are higher compared to those of other regulated brokers.
Trading Platform
FXORO offers MT4 trading platform, which supports trading through web and mobile.
| Trading Platform | Supported | Available Devices | Suitable for |
| Web | ❌ | Web | / |
| MT4 | ✔ | Web/ mobile | Beginners |
| MT5 | ❌ | / | Experienced traders |
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