As far as online brokers go, FXOro is one of the best. This is a broker that provides CFD trading on various assets such as cryptocurrencies, indices, commodities, and forex. Tight spreads are also offered, and so is negative balance protection. Along with the MetaTrader platform and some truly fantastic trading tools, read through our FXOro review to find out more about this amazing broker and how it can help you.
Despite the fact that it may offer a ton of great services, products, and features, an online brokerage may be deemed ineffective if the act of actually navigating and using the broker is a needlessly complex and complicated task. Traders would want to deal with an entity that can make online trading much easier, not more difficult. This is why we recommend FXOro as its trading platform is quite easy to use and is also very professional and top-notch in terms of its quality.
As alluded to earlier, the broker uses the MetaTrader platform, specifically MT4. This is great as traders are offered an intuitive interface through which new traders can use the platform with relative ease. It also possesses advanced trading mechanics as well as automation tools which are primarily useful for veteran traders. Furthermore, it is possible to use the platform via most devices that have a stable Internet connection, such as smartphones, tablets, desktops, and computers. iOS and Android compatibility has also been added for further accessibility. Whether you are at home or on the go, accessing the trading platform will never be an issue.
Nowadays, it is important to have some useful trading tools at your disposal which can help you with your trades and simultaneously assist you in gaining relevant experience in the industry (which will only help you in the long run). With that in mind, FXOro has provided some great trading tools, including the more basic ones such as an economic calendar, signals, and access to all of the relevant news in the world of finance and online trading.
There are nonetheless some unique trading tools also offered by this broker, namely the ‘TC Market Buzz’ and ‘Trading Central’ features. We found these to be particularly useful and worth checking out because it is with trading tools such as these that you can gradually become a more experienced trader which would of course lead to more substantial profits.
When you choose to sign up with FXOro, you are given the option of two account types. It is essential to know about these account types beforehand, as your choice will differ depending on certain factors such as risk appetite, budget, personal preferences, and so on. The account types in question are called ‘Fixed Spreads’ and ‘Variable Spreads.’
As far as this review may be concerned, there is only one key difference that you need to be made aware of when it comes to the account options. You see, in the ‘Fixed Spreads’ account type, the spreads would always be fixed, and there is no chance of any variations occurring no matter how volatile the market may get. In the ‘Variable Spreads’ option, however, the spreads can vary and go as low as 0.3 pips. This will also rely on the type of instrument being traded with as well as market volatility.
Moreover, FXOro also has an ‘Islamic Account,’ which is also referred to as the ‘swap-free’ account type. Here, there are no swaps or rollover interest, nor are there any overnight positions. Of course, this account type can only be used by Muslims and can be chosen alongside the aforementioned two options. The fact that an Islamic-friendly account option even exists is proof of the fact that the broker wants to be as inclusive and diverse as possible, and so Muslims will never feel left out when it comes to online trading.
If you ever felt as if you do not know enough about the online trading sector, then know that you are not alone in feeling this way. Numerous traders, both new and old, often feel the need to educate themselves as this is one industry that is constantly evolving.
With that in mind, FXOro has provided some comprehensive educational resources that can be used to accomplish the abovementioned goal. These materials have been arranged in different formats and are readily accessible. Some of the resources include eBooks, webinars, in-depth guides, tutorials, and courses, as well as a useful ‘Trading Glossary.’
The FXOro customer support team is dedicated to solving any and all issues that traders might face on a regular basis. It is hence possible to contact this team through email, online chat, phone, and by filling out a ‘contact us form, which can be found on the broker’s website. No matter what problem you may encounter, you can rest easy knowing that it will be solved as quickly as possible thanks to the highly capable and friendly customer support team.
In conclusion, FXOro is a reliable broker that can be used by traders of all kinds. It is trustworthy and offers plenty of tools and instruments to work within an easy-to-navigate trading platform. We are hence more than comfortable in recommending this broker to anyone who may need it.