Account Setup

FXRoad is a regulated Forex and CFDs broker operated and owned by 4Square SY Ltd, a brokerage company registered and regulated in Seychelles. The company is also registered in Cyprus as the broker’s payment provider. The broker provides diverse trading accounts and offers a simplistic approach to the website and trading with a modern design and a handful of attractive features. FXRoad is a broker in the first place, and it does not provide any copy trading services as of now but has advanced educational resources to support trader development. Trading accounts of FXRoad include a free demo account, an Islamic account, and silver, gold, and platinum accounts.

All accounts of FXRoad provide traders with access to diverse markets including Forex pairs, popular cryptos, indices, commodities, and stock CFDs. The leverage system is the same for all account types, but different assets come with different levels of maximum leverage:

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

Demo account:

FXRoad demo account is a risk-free trading solution with up to 100,000 virtual cash. The demo account is suitable for both novice and experienced traders to practice trading, test broker’s services, and develop new trading strategies.

Silver Account:

The silver account is aimed at experienced traders who already have a profitable non-scalping strategy. The minimum deposit is 250 EUR or equivalent in USD, spreads start from 2.6 pips on major pairs, and maximum leverage is capped at 1:200 for FX pairs. No discounts for swaps on silver accounts, and no educational resources are available. As for the services, traders can get 24/5 dedicated support, hedging is allowed, and pricing is fifth decimal.

Gold Account:

The Gold account offers lower spreads at 2 pips on FX pairs, has a maximum leverage of 1:200 also, and comes with a 25% discount on swaps. This account comes with several additional services including educational videos, webinars, and a personal account manager. The hedging is also allowed and pricing is also the fifth decimal.

Platinum Account:

FXRoad platinum account is the most premium account with a 50% discount on swaps, spreads from 1.4 pips on major pairs, and a dedicated News alert feature. All other services are the same as for gold accounts with hedging, fifth decimal pricing, educational resources, and a dedicated personal account manager.

Islamic Account:

Islamic account of FXRoad is superior with swap-free trading at the super low spreads of 0.6 pips on major pairs. This account is aimed at Sharia law followers and offers undoubtedly one of the lowest spreads in the industry. It also comes with many services and is recommended for Islamic traders.

Platform Features & Usability 

FXRoad provides access to markets via its proprietary trading platform, which is mainly a web-based platform. The FXRoad platform is also available for all mobile devices and provides modern design with a user-friendly experience. This WebTrader is flexible as it allows traders to speculate on all available instruments no matter the asset class from one unified platform.

Fees and Spreads 

There are no hidden fees and commissions for trading deposits and withdrawals. This zero-commission approach makes FXRoad a well-suited broker for focused swing traders, more on low commissions rather than spreads. As we have observed, the spreads are competitive and even very low for Islamic accounts, making this account very attractive for Sharia law followers.

Traders & Social Community 

FXRoad has a focus on trading and is not offering copy trading or social trading services as of now. As a result, the broker does not provide a forum where traders can connect and share their experiences and ideas. However, the broker has a presence on popular social media and is dedicated to providing a simplistic and attractive trading environment for both experienced and beginner traders.

Risk Management and Safety 

FXRoad is a regulated broker overseen by the Financial Services Authority (FSA) of Seychelles. The broker is not regulated by Cyprus, although its company is registered there. FXRoad follows strict risk policies to protect its traders. It offers negative balance protection for all retail investors, preventing them from going into minuses in case they abuse the leverage. It is a member of the investor compensation fund and keeps trader funds in segregated bank accounts with top-tier banks.

Customer Support 

FXRoad support is excellent and includes a number of channels such as email, live chat, and hotline. The live chat is the fastest way to contact the broker and resolve any issues immediately. Both the website and support of FXRoad are multilingual, making the broker truly an international brand.

Funds Withdrawal and Deposits

Accepted payment methods include popular methods such as Apple Pay, Google Pay, Visa, and MasterCard with an average processing time of 1-2 business days. None of the payment methods are charged on the broker’s side, which is an advantage for traders. However, some payment methods like wire transfers might take between 3-7 business days.