FxGrow Review 2024

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Written By
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Written By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Fact Checked By
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Fact Checked By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

2.7 / 5
FxGrow is #108 in our CFD broker rankings.
MT5, TradingCentral
Forex, CFDs, futures
Skrill, WebMoney, Credit Card, Mastercard, Visa, Wire Transfer, QIWI, Cashu


  • Best Liquidity Provider 2018 - Jordan Forex Expo
  • Best Broker 2012 - CIOT Forex Expo
  • Best International Broker 2012 - South Africa Forex Expo
  • Best Education Broker 2012 - Dubai Forex Broker
  • Lowest Spread & Fastest Execution 2012 - Jordan Forex Expo


  • Education Academy plus webinars and seminars for beginner, intermediate and experienced traders
  • I liked the powerful MetaTrader 5 platform with advanced technical analysis tools
  • Daily technical analysis on all asset classes plus an economic calendar and Trading Central signals


  • High withdrawal fees vs competitors climbing to 3.9%
  • Fairly wide spreads in the ECN starter account
  • No credit/debit card deposit options

FxGrow Review

FxGrow, part of Growell Capital, is a regulated forex and CFD broker based in Cyprus. Our review dives into the key features, including minimum deposit requirements, leverage and the login process. Learn more about the broker and find out if FxGrow is a good choice for you.

FxGrow Details

FxGrow is a brand name of Growell Capital, which was founded in 2008. Based and regulated in Cyprus, the broker serves both retail and institutional clients in over 100 countries. FxGrow has been globally recognised for its market execution and low spreads.

The company offers a diverse selection of assets, including currencies, futures, indices and commodities. Traders can benefit from the powerful MT5 trading platform as well as analysis tools via Trading Central.

MetaTrader 5 Platform

The advanced MT5 platform was designed to provide everything you need to trade the markets. The platform uses powerful charting technology and sophisticated order management features to help users monitor trades accurately and efficiently.

Features include:

FxGrow MetaTrader 5
FxGrow MetaTrader 5

The platform supports MacOS and Windows operating systems; the broker provides instructions on how to download the platform for each on the website.

Note, an MT4 download is not offered.


Traders can open positions in some of the most popular global markets at FxGrow, including over 61 currency pairs across majors, minors and exotics, over 34 CFDs on futures (currencies, indices and commodities), 17 cash indices and commodities, plus 7 metals and energies.

Trading Fees

FxGrow offers variable spreads from 1.1 pips in the starter ECN account and 0.2 pips in the ECN Plus and Elite accounts across currency pairs such as EUR/USD. Gold spreads are around 0.22.

Commissions are also charged at 8 per lot in the Plus account and 6 per lot in the Elite account. There is also an MT5 VPS hosting fee of $15 per month across all accounts. Rollover fees may apply to any positions held overnight.


FxGrow complies with EU restrictions on flexible leverage and therefore offers a maximum retail ratio of 1:30 on FX majors, 1:20 on minors, gold and indices, and 1:10 on silver, commodities and energies. Margin rates start from 3.33% for FX majors. Professional traders can apply for leverage up to 1:100.

Mobile Apps

FxGrow delivers the MT5 mobile app for Apple and Android smartphone users, who wish to access their portfolios from anywhere.

The app supports multiple languages and hosts a user-friendly interface with many of the same features found within the desktop version. Traders can choose from numerous technical indicators and charting functions, access rich trading history and monitor real-time prices of instruments. There’s also a live news feed, plus support for all execution modes and order types.

FxGrow mobile trading
FxGrow mobile trading

Once you have registered an account, you can head to your smartphone’s application store to download the apps and begin trading.


There’s a good choice of payment methods at FxGrow, including bank wire, credit/debit cards, plus e-wallets and online payment systems such as Skrill and WebMoney. The minimum account deposit is $100. Processing times vary depending on the method, so it’s worth checking these beforehand. Note that bank wire can take up to 5 days to process on the broker’s side.

FxGrow doesn’t charge any fees for deposits or withdrawals, however, some e-wallets and online payment systems may charge their own fees.

Demo Account

FxGrow offers a demo account for traders of all experience levels to practice their strategies and place virtual trades. The account includes a sum of risk-free practice money. You can register for a demo account on the broker’s website in a few simple steps.

FxGrow Sign-Up Bonuses

FxGrow operates under strict EU laws around the supply of trading bonuses and therefore does not offer any such deals. This includes gifts, welcome promotions or no deposit bonuses.

Regulation Review

Growell Capital (FxGrow) is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 214/13. The broker is a member of the Investor Compensation Fund, which compensates client claims up to 20,000 euros. The broker also provides negative balance protection and ensures that client money is separated from the company’s own funds.

Additional Features

Traders who sign up for any account with FxGrow get access to research platforms and trading signals by Trading Central, a global leader in financial market research. The service includes detailed technical analysis reports, plus economic insights, a market calendar, a fundamental insights newsletter, and more.

FxGrow economic calendar
FxGrow economic calendar

The broker also includes some useful forex calculators and a national holiday calendar on the website, plus daily analysis on all tradable instruments.

Trading Accounts

FxGrow offers 3 ECN accounts: ECN, ECN-Plus and ECN-Elite. The minimum deposit is $100 in the ECN account. Spreads start from 1.1 pips in this account, which aren’t the most competitive for an ECN account. You do get tight spreads from 0.2 pips in the other two accounts, but you will need to deposit at least $1,000.

Across all accounts, the minimum trade size is 0.01 lots and the margin call and stop out levels are set to 50%. All accounts also get access to Trading Central research and there are no limitations on trading strategies.

Trading Hours

The trading week at FxGrow for forex and precious metals begins at 11:00 pm CET on Sunday and ends at 11:00 pm CET on Friday. Trading sessions for other CFD products depends on the market and underlying exchange rates. These can be found within the MT5 platform.

Customer Support

FxGrow offers dedicated live client support through the online chat service on the website. You can also get in touch over the phone by calling +357 25 211 707. The head office address is Arc. Makariou 59, Steratzias Court Block A, Office 14, 4003 Limassol, Cyprus.

Note FxGrow Limited also has offices in Vanuatu and Lebanon.


The MT5 platform is a highly secure software which utilises industry-standard encryption technology to protect client data.

Transaction data through the broker’s website is sent via Advanced Encryption Standard (AES) technology and Message Direct 5 (MD5). Communication is also secured using Secure Sockets Layer (SSL) and Transport Layer Security (TLS).

FxGrow Verdict

FxGrow is a regulated and safe broker providing access to some key markets, the MT5 platform and Trading Central. There is also a demo account for beginners, however the $100 minimum deposit in the starter ECN account won’t get you the tightest spreads.

Top 3 Alternatives to FxGrow

Compare FxGrow with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

FxGrow Comparison Table

Compare FxGrow With Similar Brokers
FxGrow IG Interactive Brokers World Forex
Rating 2.7 4.4 4.3 4
Markets Forex, CFDs, futures CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT5, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:30 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 8 6 6 10
Visit Visit Visit Visit
Review IG
Interactive Brokers
World Forex

Compare Trading Instruments

Compare the markets and instruments offered by FxGrow and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare FxGrow Trading Instruments
FxGrow IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto No Yes Yes Yes
Futures Yes Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

FxGrow vs Other Brokers

Compare FxGrow with any other broker by selecting the other broker below.


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What is the maximum leverage at FxGrow?

The maximum leverage available is 1:30 on major forex pairs. Professional traders can apply for higher limits.

Is FxGrow regulated?

Yes, FxGrow is regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 214/13.

What platforms does FxGrow offer?

FxGrow offers the MetaTrader 5 platform for all clients. Traders can also access Trading Central research platforms with any account. MT4 is not available.

How can I fund my trading account?

FxGrow offers a vast range of funding methods, including bank wire, credit/debit cards and e-wallets and online payment systems such as Neteller, Skrill, WebMoney and Qiwi.

How do I open an account with FxGrow?

You can open one of the three account types by filling in the short online registration form and verifying your identity. You will then receive an account approval notification via email, as well as access to the platform where you can start trading.