FXORO is a forex and contract for difference (CFD) broker established on July 22, 2010, and registered in Cyprus. The company primarily provides investment trading services in forex, stock CFDs, commodity CFDs, index CFDs, and ETF CFDs. The official website of this broker is https://global.fxoro.com, and it supports multiple languages, including English, Spanish, Portuguese, Malay, Thai, Vietnamese, Arabic, and Romanian.
Company Background and Regulatory Status:
FXORO is registered in Cyprus under the entity MCA INTELIFUNDS LIMITED, with a registered address at 82, Petrou Tsirou, Mesa Geitonia, CY-3076 Limassol, and registration number 270891. This entity is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), with authorization granted on December 21, 2010, under license number 126/10. The domain for its official website was registered on June 9, 2020.
FXORO also operates under the entity ORO FINTECH LTD, registered in Seychelles, with an address at Block B, Room 2, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles, and registration number 8425077. This entity is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with license number 126/10.
Trading Instruments:
FXORO offers various trading instruments, including:
Forex: Trading in the global foreign exchange market with various currency pairs.
Stock CFDs: Contracts for Difference on individual company stocks, allowing traders to speculate on price movements without owning the actual stocks.
Index CFDs: Contracts for Difference based on stock indices, representing the performance of a group of companies' stocks.
Commodity CFDs: Contracts for Difference on commodities, which are highly volatile asset classes.
ETF CFDs: Contracts for Difference on Exchange-Traded Funds, providing diversified investments without owning the underlying assets.
Account Types:
FXORO provides users with two account types: Fixed Spread Accounts and Variable Spread Accounts. Additionally, Islamic accounts are available, and users can select the Islamic feature for both Fixed and Variable Spread account types. Both account types offer a maximum leverage of 1:400 and do not charge commissions. The Fixed Spread Account features a fixed spread of 2 pips and requires full margin capability, while the Variable Spread Account offers a floating spread starting from 1.2 pips with a stop-out level set at 25%.
Trading Platform:
FXORO offers the popular MT4 trading platform for investors.
Deposits and Withdrawals:
Users can deposit funds through credit cards, bank wire transfers, e-wallets, and other methods. The first three withdrawal requests submitted to the broker each month will be processed free of charge. However, any additional withdrawal requests will incur a fee of 10 euros/US dollars/British pounds/Swiss francs, depending on the trading account's currency.
Customer Support:
Customer support at FXORO can be reached via phone at +442031290670 or through email at [email protected], [email protected], [email protected], or [email protected].
Summary:
FXORO is a broker with regulatory oversight; however, it's worth noting that its regulatory authorities may not have the same level of stringency as others. As of the latest information available, FXORO is marked as "Operational" on Trading Circle, but investors should conduct their own due diligence and consider the regulatory framework before trading with this broker.
