The financial market garnered the interest of many people over recent years due to the high profitability that could be found in the industry. As more assets could be traded upon and the evolution of cryptocurrencies in the Financial market, those who were once skeptical began to tread the waters of trading hoping it takes them to high returns. The financial market allows traders and investors alike to make profits without much effort.
Those looking to earn some quick cash and not go the illegal way in the process have found the financial market very rewarding and accommodating. However, a new trader might not have much luck on trades at the first go. This is because the financial market is known for being unpredictable and as such, the value of an asset and reduce or skyrocket at any time. Making trades requires time, analysis and research; this is something not everyone cannot afford.
To make trading easier, brokers came into the mix and they were a welcomed aid to a lot of people. Brokerage firms have become the base of the financial industry as it is the channel by which traders perform trades in the financial market. Because of the importance and demand of brokerage firms in the financial industry; there are online brokers constantly emerging and it has become increasingly difficult to distinguish legit brokers from scams.
Many unsuspicious investors and traders have fallen prey to the activities of scamming brokers in the industry. Many new brokerage firms are deceitful in their dealings and just make traders and investors lose their money in the financial market, thereby discouraging them from trading any further. Traders and investors now have to research intensively before deciding on a brokerage company to commit to as a client.
This process can be time-consuming and mentally straining; a trader needs to recognize the features and qualities each brokerage firm is offering. This is important to show that this brokerage firm is in line with their needs and goals in the financial market. However, we once more come to the rescue of traders in the financial industry and have gone through all the trouble of carrying out extensive research to investigate a brokerage firm that you might find to be the right fit for you – FXOro.com.
This brokerage firm is amongst famous brokerage companies in the financial industry and we have gone through the troubles of confirming if it is worth all the popularity it has garnered. This is to make it easier for you to decide if this online broker is what you’re looking for.
Quick Overview of FXOro – Optimum Forex Trading
The word out there is that if you’re looking for a brokerage firm that would take you far when it comes to trading especially with Forex, then you should look out for a brokerage firm from Cyprus. This is probably because many companies found possibilities in Cyprus and have opened up there making the country a center for financial companies.
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This is probably why FXOro performs very well in the financial industry; this brokerage firm is located in Cyprus where they have found a home. This popular brokerage firm is only one part of a bigger company known as MCA Intellifunds. This company decided to expand into the financial industry and launched the brokerage firm back in 2012. Although this online broker has only been around for less than 15 years and can be considered moderately fresh; it has worked hard to become one of the top brokers in the industry.
This brokerage firm located in Cyprus can access financial markets in different countries because it holds a license from Cysec which allows it to trade internationally as long as it adheres to the rules of such countries. FXOro chose Cysec for its dependability as it is the next best regulator in Europe when compared with FCA from the UK. This popular regulator is known for its firm rules when it comes to the safety of traders’ funds.
This online broker is prodigious because it gives traders entry into hundreds of markets with its wide range of assets. FXOro provides various assets at the disposal of traders; this gives the trader options of either diversifying their trades or centering on a particular class of assets. Various market analysts however advise traders to diversify instead of putting all their eggs in one basket. This is so that when one asset reduces value, a trader or investor still has the opportunity to profit from another asset that might be making waves in the industry.
This online broker is also customer-oriented as can be seen in their professional support team which response to queries and issues courteously and professionally. Their variety of accounts also proves this as the various accounts were designed to fit different traders’ needs and level of experience in the financial market. This is unlike some brokerage firm that offers one account type which puts experienced and non-experienced traders on the same level.
Due to its wide range of market access and operation in various countries, this brokerage firm is also multi-lingual. This is to help customers of different descents to be able to use the platform irrespective of language. Some of the languages that are available on the platform are the English language, Italian, Romanian, Czech, Arabic, Greek and many more. This assists traders who do not have English as their first language to be able to carry out trades smoothly without a language barrier.
Salient Qualities FXOro Offers
This brokerage firm is pack full of amazing features that are put in place to entice both beginners and experienced traders in the financial industry. Some of these features include:
- Constant Support Team
This is an important feature to look out for in a brokerage firm. Many brokerage firm do not attach priority to this department and as such, traders are left hanging when issues crop up. The financial market isn’t exactly smooth; it can be quite rocky, complicating and confusing. It would boost the confidence of a trader to know that professionals are waiting to help whenever he/she needs them.
This is what FXOro offers; a competent, efficient and professional customer support team that is available five business days and all hours of the day during that period. The customer service of FXOro can only be termed superb as they remain friendly while effectively handling every issue or query directed at them. They are well trained and knowledgeable about the financial market so that they can successfully answer any question traders and investors may have.
This brokerage firm also provides traders with an email address that they can send a mail to and get replies as soon as possible. FXOro also provides contact numbers that clients can call and speak directly to a customer care agent. You can also visit their office as the address is made available on the platform if a trader wants to personally visit the office for a one-on-one meeting.
- Sterling Security Measures
Security is truly everything in the financial market; traders want to feel secured when performing trades in the financial market. They would like to be assured that their funds are safe and so is every data made available platform. This is to affirm that the brokerage company does not misuse funds and that the platform is sheltered from cyber-attacks.
FXOro makes security a priority as they have put in place strict security actions that are taken to protect the platform from money launderers, hackers and other illegal personalities looking to infiltrate the platform. The platform is sheltered with high-end security technology that makes every data on the platform useless to hackers. The payment methods are also very secure and financial data given are kept private and never shared with third parties.
Also, the funds of every user of the platform are kept in a different account from that of the broker. This is to assure the clients that traders’ funds are safe and withheld from personal use by the broker. This is done in compliance with the rules of Cysec which regulates the firm.
- Wide Array of Trading Instruments
The assets available on this platform to trade with are divided into various categories. The users of this platform can trade with Forex as different available pairs can be traded with. Traders are provided with major currency pairs as well as minor currency pairs. Traders can also pick to trade with exotic pairs if they so desire; there are over 60 pairs to make your choices from.
This platform also makes available Contract For Difference (CFDs) with equips investors with other assets like stocks, indices and others to trade with. When a trader decides to go with commodities, he or she is presented with a variety of commodities such as metal, gold, oil, silver and many others.
A trader can choose to invest with indices and cryptocurrencies. There is however a limitation on cryptocurrencies that can be traded with as only Bitcoin, Ethereum and Litecoin are available on the platform. The platform might expand its crypto assets with time since cryptocurrencies are becoming the number one asset being invested in the financial market.
- User-Friendly Trading Platform
As stated earlier, FXOro is concerned about its customers in its actions; this is made evident in its choice of the trading platform. This efficient brokerage platform makes use of the most advanced trading arena in the financial market – MetaTrader 4. This platform is popular for its vast trading tools that are at the disposal of the traders to ensure a smooth, enjoyable trading journey in the financial market.
It has tools that traders can use to analyze market trends before making a trading decision, indicators and also trading signals. This trading arena is also designed for clients’ convenience as it is available in two different forms. Traders can use the WebTrader if they would prefer to sit down and watch how their trade goes; this can be accessed on any desktop browser. There is also the option of a MobileTrader which is an app traders can download to be able to keep track of trades while on the move.
- Superb Learning Resources
Want to learn how trading works while still carrying out trades? FXOro adds that to the table of amazing qualities it proposes to traders and investors. This brokerage firm has provided various training resources and tools that traders of every level can benefit from extensively.
One of these resources is the Autochartist tool which can be considered as one of the instruments that can help traders immediately recognize various charts and patterns. It is also equipped with top-notch technology that allows clients to keep track of various forex trading instruments at all hours of the day. This is to ensure that customers never miss out on a prospective opportunity to make profits.
There are also other available tools like trading signals that are put in place to notify traders when there is an opportunity to buy assets or to sell assets. This is beneficial to traders looking to sell or buy more assets in the financial market. This amazing online broker also makes available webinars and courses that cater to different parts of trading.
These courses are in different categories; there are beginner courses and comprehensive courses. A new trader can start with basic courses and then work their way up from there. These courses and webinars teach traders how to make the right trading decisions and also how to efficiently make use of the available trading resources to enhance trades being carried out.
- Bonuses
This platform also has some appealing bonuses that make trading on the platform exciting and fun. There are various bonuses available on different levels. These bonuses can be unlocked based on account and also depending on deposits being made. The platform also provides bonuses for traders when they refer a friend to the platform too. This bonus is released once the friend referred makes a deposit and the amount given as bonus depends on the amount your friend deposits on the platform.
- Stress-free Depositing and Withdrawal System
Carrying out deposits and withdrawals on the platform is very easy and simple to perform. There are different methods by which customers can make deposits on the platform. A trader can decide to use cards or various e-wallets. There are no additional fees when performing deposits to the FXOro platform. There are no hidden fees either so if there is a charge on deposit; then it’s probably a fee taken by your bank for transactions made.
Making withdrawals is also just as easy and can be carried out through the exact process deposits were made. Although there are no fees when making deposits, there are fees attached to performing withdrawals on the platform. Withdrawal requests are usually processed within 24 hours of trades requests being made; bank transfers however takes longer. The withdrawal fee relies on the favored process and the amount being withdrawn.
Details of every charge are stated in the terms and condition which a client is requested to read through before registering on the platform. There are no hidden fees whatsoever.
Different Account Types
FXOro makes available various account types that traders can pick from depending on their level of experience, needs and goals in the financial market.
- The Fixed Account
This account according to the name shows that spreads on this account type is static and will not ever be moved. The spreads available on this platform startS from 2 pips and a trader can make use of the complete margin. The leverage ratio being offered on the platform is also 1:400 and holders of this account do not have to pay commission fees. The fixed account is suitable for new traders looking to start small as the account can be unlocked with a deposit of $200 at the very minimum.
- The Floating Account
This account as the name implies offers the traders spreads that floats which means that; the spread can move when the market does the same. Traders who have a level of experience in trading will find this account to be the right fit and holders of the Fixed account can also upgrade to this account when they deposit $1000. The leverage ratio also marginally decreases to 1:200 and traders also enjoy no commission on this account. The margin level is 50% on the floating account.
- The ECN account
This account was designed with experts in mind and starts with 0 pips spread. This account also has a margin level of 50% and is unlocked with a deposit of $5000. Holders of the floating account can upgrade to the ECN account when they have gained ample experience trading in the financial industry. There is a commission attached to each lot traded on this account.
- Islamic Account
This is a unique account type that is available on request. It is designed in compliance with Sharia laws and traders do not enjoy interest on this account. Each account – fixed, floating and ECN – has an Islamic version for Muslims. They are not required to pay interest because the trades are closed right before midnight and opened immediately after.
Final Verdict
Even though there are plenty of brokers available in the financial market, one has to be careful who they commit to. FXOro has adequate conditions for trading and a top-notch trading platform to maximize the convenience of traders on the platform. This brokerage firm also offers an efficient support team and ample security for funds and data.
FXOro is a capable broker when you consider it from all sides, so it wouldn’t be a mistake to carry out trading with this proficient broker who is prepared to carry you in the financial market.
