Are you thinking about creating a trading account with FXORO? Being one of the most popular online brokers today, FXORO attracts traders from all around the world. New and experienced seem to like this trader the same way. Based on the reputation of the broker and its visibility in the digital world, there is no reason why you wouldn’t be tempted to start your trading career with FXORO. But is this broker really that good? Are there things that you should know about it? Here is a detailed FXORO review, the only one that you will ever need to read before you sign up with this broker.
Everything You Should Know about FXORO
· It Is a CFD Broker
When you land on the website of this broker, you will see that there are a lot assets for you to trade. One has to wonder how he/she can trade so many different assets from the same trading platform and by being in one financial market. Well, the reality is that you are trading CFDs when you trade with this broker. CFDs are contracts reflecting the value of the asset that you want to trade, but in reality, you never own the asset itself. CFDs allow you to trade with lots of leverage so you can amplify your profits. However, they are risky instruments and you can end up losing all your money as well. Do keep this in mind when you sign up with this broker.
· You Can Find Major Asset Classes
Since FXORO is a CFD broker, you will find just about any asset that you can think of in its asset index. That’s because when a broker provides CFD trading, it can accommodate all the assets on the same trading platform. So, when you sign up with this broker, diversification should not be a challenge for you. You can trade commodities, which include not only precious metals but soft commodities and energies as well. You can trade major, minor, stable, and volatile currency pairs from the same trading platform. In addition to that, you have stocks from all the major companies of the world available for trading.
The best thing is that you can even trade cryptocurrencies with this broker. If you have been finding a way to invest in digital coins, now is your chance to do that with a reliable online broker.
· It Is a Regulated Broker
The first thing that should give you peace of mind about an online broker is regulation. If the broker is not regulated, you should not trust it no matter how great its promises are. Regulation ensures that the broker you are signing up with is accountable to some authority for its financial activities. This regulatory authority not only regulates and audits, but also possesses the rights to have the broker sealed if it finds anything wrong with the broker. FXORO is regulated by one of the major regulatory authorities in the world, namely Cypress Securities and Exchange Commission. Your money and information are in safe hands when you sign up with this broker.
· It Provides Friendly Trading Conditions
We can’t claim that trading conditions for traders are the best with this broker, but they are nothing less than great. You will find a lot of features that seem to favor you as a trader. First of all, you get leverages on all the assets that you can trade with this broker. Whether you are trading stocks, commodities, forex currency pairs, or cryptocurrencies, you have leverages available. Margin requirements seem pretty flexible with leverages going up to 1:400 on certain assets. If you like certainty and don’t mind some generosity for the broker in terms of spreads, you can go with the account with fixed spreads.
There is an account with floating spreads as well. You might not get any certainty with this account but you can definitely enjoy tighter spreads in this one than you have with the fixed spreads account. Lastly, you have the ECN account that does not include any spreads but does charge a commission on every trade that you execute on the broker’s platform.
· It Helps You In Many Ways
While huge leverages and tight margin requirements are already an indicator that the broker wants the best for its traders, there are some other great benefits of trading with FXORO as well. For example, you will get access to a lot of tools that will help you with successful trading. You will get access to the Market Buzz tool that lets you know the sentiment in the market. Of course, you can’t trade assets without knowing what the sentiment in the market is. In addition to that, you have various trading signals included with your account that provide you with help on your trades.
You have some great training material from the broker. The training material has been divided into professional and basic training courses. In addition to that, you have webinars that you can attend to learn in real time.
· Its Customer Support Is Great
The last thing you want from an online broker is an email address that’s the only point of contact for you. You must be able to reach your broker through phone as well. You have multiple email addresses on the website that you can use to send your query to the broker. However, you can also use the multiple phone numbers to get in touch with a human for instant help. The representatives serving customers on behalf of FXORO are very professional in how they talk and deal with your concerns.
Just so you know, if you have any religious restrictions holding you back from opening a trading account with FXORO, you can go with the Islamic account as well. You will see that this broker tries to accommodate its traders in every way possible regardless of where they come from. Based on the information above, even we can say that FXORO is one of the best online brokers. You can do your personal research as well and make a decision when you are fully ready to sign up with FXORO.