FxRoad Review 

Category: Reviews | Author: Trading Brokers | Date: July 8, 2024

FXRoad is a regulated Forex and CFDs broker that has been making waves in the online trading scene. Operating under the umbrella of 4Square SY Ltd, a financial services provider registered in Seychelles and Cyprus, FXRoad offers a diverse range of accounts with competitive spreads and a robust trading platform. The broker’s commitment to safety and transparency, as well as its focus on providing a user-friendly experience, has made it an attractive option for traders worldwide.

In this review, we will delve into the details of FXRoad’s offerings, examining its features, fees, and overall user experience. We will explore the various account types, including the Islamic account option, and assess the broker’s proprietary trading platform. So without further ado, let’s dive in and uncover the truth about FXRoad.


Pros & Cons

  • Features integration with TradingView charts for advanced technical analysis
  • Regulated by the Financial Services Authority (FSA) of Seychelles
  • Supports multiple deposit and withdrawal methods
  • Offers over 350 trading instruments including forex, stocks, commodities, and cryptocurrencies
  • Good trading conditions including low spreads and commission free trading
  • Provides user-friendly WebTrader and mobile trading platforms
  • Provides negative balance protection for risk management
  • Offers Islamic (swap-free) accounts
  • Prompt and helpful support team on hand to assist
  • Higher minimum deposit of $250 for the basic account
  • Does not offer MetaTrader 4 or 5 platforms

Summary

FXRoad

FXRoad

FxRoad is a versatile forex and CFD broker that caters to a wide range of traders, from beginners to seasoned professionals. The platform offers a comprehensive suite of trading instruments, including currencies, stocks, indices, commodities, and cryptocurrencies, providing ample opportunities for portfolio diversification.

One of FXRoad’s standout features is its commitment to trader education. The broker provides a wealth of educational resources such as articles, trading guides, and webinars, designed to help traders enhance their market knowledge and trading skills. This focus on education makes FxRoad an attractive option for those new to trading. In terms of trading platforms, FxRoad offers a modern and user-friendly WebTrader platform for those who prefer trading directly from their browser, as well as mobile apps for iOS and Android devices, ensuring that traders can access the markets from anywhere at any time.

FxRoad offers three main account types: Silver, Gold, and Platinum. Each account type comes with its own set of features and benefits, catering to different trading needs and experience levels. The broker also provides competitive trading conditions, including low spreads starting from 0.6 pips and leverage up to 1:200. Overall, FXRoad presents itself as a reliable and user-friendly trading platform, equipped with essential tools and resources to support traders in their trading journey.

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AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

FXRoad is operated by 4Square SY Ltd, a company registered in Seychelles with registration number 8426168-1. The broker is regulated by the Seychelles Financial Services Authority (FSA) under license number SD052. The FSA is responsible for ensuring that financial service providers adhere to strict standards, which include the segregation of client funds, regular financial audits, and compliance with anti-money laundering (AML) regulations.

Being regulated by the FSA means that FxRoad operates under stringent guidelines designed to protect traders’ interests. This regulatory oversight provides an added layer of security and confidence for traders, knowing that the broker is held to high standards of transparency and financial integrity.

However, it’s important to note that 4Square SY Ltd does not offer its services to residents of certain jurisdictions, including the USA, Canada, the European Union, Iran, Iraq, Syria, North Korea, and Sudan.

Platforms & Tools

FxRoad platform

FxRoad platform

FxRoad offers a variety of trading platforms and tools designed to cater to different trader preferences and needs. Here’s a detailed look at each platform:

  • WebTrader Platform: FxRoad’s WebTrader is a browser-based platform that provides traders with a seamless experience without requiring downloads or installations. It offers a user-friendly interface for easy navigation, one-click trading for quick execution, and integration with TradingView charts for advanced technical analysis. The platform provides access to a wide range of trading instruments, real-time market data, and customizable workspaces to suit individual trading styles. WebTrader is ideal for traders who prefer flexibility and want to access their accounts from any device with an internet connection.
  • Mobile Trading Apps: FxRoad offers mobile trading solutions for both iOS and Android devices. The iOS app provides a comprehensive trading solution for Apple devices with a user-friendly interface and robust security features. It allows full control over trading activities and provides real-time market notifications. The Android app offers similar functionality, enabling traders to manage their activities on the go. Both trading apps mirror many features found on the web platform, ensuring a consistent trading experience across devices.

FXRoad integrates a range of trading tools to enhance the user experience and facilitate informed decision-making.


  • TradingView: FXRoad’s platforms are integrated with TradingView, offering traders access to advanced charting tools and a wide array of technical indicators. This integration enhances the analytical capabilities of the platforms, allowing traders to conduct thorough market analysis and make informed decisions.
  • Economic Calendar: The economic calendar available on FXRoad’s platforms helps traders stay informed about important economic events and data releases that could impact the markets. This tool is crucial for planning trades around significant market-moving events.
  • Market News and Analysis: FXRoad offers a curated feed of market news and analysis directly within its platforms. This feature ensures that traders have access to the latest information and expert insights, aiding in making well-informed trading decisions.

Education

FxRoad offers a comprehensive set of educational resources to help traders enhance their trading skills and knowledge. These resources are designed to cater to both beginners and experienced traders, providing a solid foundation for trading success. Some of them include:

  • Trading Guides: FxRoad provides written guides covering the basics of forex and CFD trading, technical analysis, and risk management. These guides are designed to be easy to understand and provide practical insights into trading strategies and techniques.
  • Webinars and Videos: The broker offers live and recorded webinars and video tutorials led by experienced traders. These sessions cover various topics, including market analysis, trading strategies, and risk management techniques.
  • Demo/Virtual Account: FxRoad provides a virtual $100,000 demo account for traders to practice and gain experience without risking real money. This demo account allows traders to develop and test their trading strategies in a risk-free environment.
  • Fundamental Analysis Tools: The broker offers fundamental analysis tools, including economic calendars and curated market news, to help traders conduct thorough market analysis and make informed trading decisions.
  • Trading Journals and Analysis Tools: FxRoad emphasizes the importance of keeping a trading journal to track performance, identify patterns, and learn from mistakes. The broker also provides access to trading software and analytical tools like TradingView charts, which offer in-depth insights into market trends and data analysis.

These educational resources are designed to help traders develop a solid understanding of the markets and improve their trading skills. By utilizing these resources, traders can enhance their trading experience and make more informed trading decisions.

Markets

FxRoad offers a diverse range of markets to trade, catering to various trading interests and strategies. Here’s a quick rundown of what you can trade on their platform:

  • Currencies: FxRoad provides access to a wide array of forex pairs, including majors, minors, and exotics. Whether you’re looking to trade EUR/USD, GBP/JPY, or something more niche, they’ve got you covered.
  • Stocks: If you’re into equities, FxRoad offers a selection of global stocks. You can trade shares of major companies from different sectors, giving you the opportunity to capitalize on market movements in the stock market.
  • Indices: For those who prefer trading indices, FxRoad offers popular options like the S&P 500, NASDAQ, and Dow Jones. Trading indices allows you to speculate on the performance of a group of stocks, which can be a great way to diversify your trading portfolio.
  • Commodities: FxRoad also provides access to commodity markets, including precious metals like gold and silver, as well as energy products like oil and natural gas. Trading commodities can be a good way to hedge against inflation or take advantage of market volatility.
  • Cryptocurrencies: If you’re into digital assets, FxRoad offers trading in popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin. This allows you to participate in the fast-paced and exciting world of crypto trading.

With such a broad range of markets available, FxRoad ensures that traders have plenty of options to diversify their portfolios and find trading opportunities across different asset classes.

Accounts

FxRoad offers a variety of account types to suit different trading needs and experience levels. Here’s a quick rundown of what you can expect:


  • Silver Account: This is an entry-level account, perfect for beginners. It offers maximum leverage of 1:200 and variable spreads. Features like trailing stops, scalping, and hedging are allowed, and there’s even an option for Islamic accounts.
  • Gold Account: Stepping up a notch, the Gold account offers the same maximum leverage of 1:200 and variable spreads. Just like the Silver account, you get access to trailing stops, scalping, hedging, and Islamic accounts. This account type is ideal for traders who have a bit more experience and want additional features.
  • Platinum Account: The top-tier account, Platinum, provides the same leverage and spread types as the other accounts but is geared towards more advanced traders. It includes all the features of the Silver and Gold accounts, such as mobile trading, trailing stops, scalping, hedging, and Islamic accounts.
  • Islamic Account: FxRoad also offers an Islamic account that is fully compliant with Shariah law. This account type is designed to provide all the features of a regular trading account, including access to a wide range of trading instruments and market analysis tools, but without any swaps. The leverage for Islamic accounts is up to 1:200 on FX pairs, and spreads start from 0.6 pips on major pairs. There are no hidden fees, and deposits are free of charge. This account is perfect for traders who want to adhere to Islamic finance principles while trading.

Each account type is designed to offer flexibility and cater to different trading styles and preferences. Whether you’re just starting out or you’re a seasoned trader, FxRoad has an account type that can meet your needs.

Funding

When it comes to funding your account, FxRoad offers a variety of convenient methods to make deposits and withdrawals easy and hassle-free. Here is a rundown of the options available:

  • Credit/Debit Cards: You can use major credit and debit cards like Visa and MasterCard to fund your account. This method is pretty quick, and your funds will typically be available almost immediately.
  • Bank Wire Transfers: If you prefer traditional banking methods, you can use bank wire transfers. This might take a bit longer, usually between 1-2 business days, but it’s a reliable way to move larger amounts of money.
  • E-wallets: FxRoad supports popular e-wallets like Skrill and Neteller. These are great for quick and secure transactions, and your funds will usually be available instantly.
  • Cryptocurrencies: For those who are into digital currencies, FxRoad allows funding via cryptocurrencies. This is a modern and secure way to deposit and withdraw funds, and it’s perfect if you’re already dealing in crypto.
  • Local Banking Solutions: Depending on your region, FxRoad also offers local banking solutions, which can be a convenient option if you prefer to use local payment methods.

The best part? FxRoad doesn’t charge any fees for deposits or withdrawals. However, keep in mind that your bank or payment provider might still impose some charges, so it’s always a good idea to check with them.

Conclusion

FxRoad offers a solid trading platform with a variety of features that cater to both new and experienced traders. With its range of account types, comprehensive educational resources, and diverse funding methods, it provides a user-friendly and accessible trading experience. The broker’s regulation by the Seychelles Financial Services Authority (FSA) adds a layer of security and trust for traders.

FxRoad

$250

FxRoad is a versatile forex and CFD broker offering a range of trading instruments, user-friendly platforms, and comprehensive educational resources, catering to traders of all levels.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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Trading Brokers
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