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FXGROW -

Score

5.15 /10
Average

FXGROW

Cyprus

10-15 years

Regulated in Cyprus

Market Making(MM)

White label MT5

High potential risk

http://fxgrow.co

Influence

C

Add brokers

Comparison

Quantity 17

Exposure

Open Account
Website

Score

Regulatory Index6.02

Business Index8.19

Risk Management Index0.00

Software Index8.74

License Index4.62

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Sanction

VU VFSC
2023-08-23
Notice of Revocation of the Financial Dealers License.
FXGROW

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
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Broker Information

More

Company Name

Growell Capital Ltd

Company Abbreviation

FXGROW

Platform registered country and region

Cyprus

Company website

X

Facebook

Instagram

YouTube

Linkedin

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 2
Previous Detection : 2024-12-23
  • The number of the complaints received by WikiFX have reached 14 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Survey

Danger

FXGROW

Cyprus

WikiFX Verification

Exposure

17 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Unable to withdraw

The withdrawal is unavailable. Don’t be cheated.

2020-07-19 15:45
Resolved

Unable to withdraw

FXGROW gave no access to withdrawals with grinding reasons, asking for margin on and on.

2020-07-20 13:34
Unable to Withdraw

Unable to withdraw

FXGROW refused my withdrawal request and asked me to print the statement on and on. The teacher blamed it on my inadequate deposit.

2020-07-20 12:16
Unable to Withdraw

Unable to withdraw

I deposited 13,000 into the account, with 25400 left in. When it came to withdrawal, FXGROW froze my account with the excuse of abnormal account. I was asked to pay 25400 for margin. It is a rip-off.

2020-07-12 18:47
Unable to Withdraw

Unable to withdraw

This fraud gave no access to withdrawal. Take heed on it!

2020-08-11 16:37
Resolved

Refuse to withdraw with various reasons, I double checked the bank card information before submitting

The platform refuse to withdraw with various reasons. I hope relevant authorities can help us to regulate this platform.

2020-10-01 07:53
Unable to Withdraw

Unable to withdraw

The platform asked for margin on and on. So I made a complaint on the unavailable withdrawal, while the service blamed it on platform. I caution you against it.

2020-07-18 17:00
Others

Exposure

The trick of fraud platform is let you withdraw a little money first and then you should upload you card again because of system maintenance, pay margin for wrong card number, pay tax. Let you fall into the trap step by step. I’m one of the victims. You should call the police.

2020-10-29 23:39
Unable to Withdraw

Unable to withdraw

The software was manipulated by a team like a pyramid sale.

2020-08-04 10:05
Scam

Fraud

There was a counterfeit platform. Take heed on it. Don’t misunderstand the fraud Li Gui into Li Kui, one of historical hero.

2020-08-11 13:39
Unable to Withdraw

Unable to withdraw

Unable to withdraw. After I pay for unfreezing my funds, I have to make up the credit score. I bet that I still have to pay over and over, and never have the chance to withdraw.

2020-07-09 08:29
Unable to Withdraw

Unable to withdraw

At the very beginning, they required additional CNY 50,000 for margin for that my credit score was low. After paying the margin, I was told to pay individual income tax because my balance exceeded CNY 100,000. I wonder whether I need to pay tax for both my margin and principal.

2020-07-09 07:47
Unable to Withdraw

Who can help me?

I feel that it will never come to an end. Who can help me? I am almost in shreds.

2020-07-16 08:13
Unable to Withdraw

Unable to withdraw

Asks for margin over and over. Schemes and traps all over it. Never gives a chance to withdrawal. Stay away from this platform.

2020-07-13 22:13
Unable to Withdraw

Fraud platform

I deposited 50,000 and made a profit of 30,000, but I can’t withdraw. The customer service said that they doubted that my deal was illegal. I have to add 50,000 to approve operations by myself.

2020-08-27 12:28
Resolved

Scam

Before paying for unfreezing, I asked the customer service about what additional money I would need to pay? They said that I could withdraw after paying CNY 10,000, but the withdrawal was unavailable. I was told that my credit score was insufficient and needed to make up for the credit score. After that I still could not withdraw money. A living scam.

2020-07-09 09:10
    Sources
    Data Source WikiFX Data provide
    Updated: 2024-12-23
    FXGROW · Company summary

    Note: FXGROW's official website - https://fxgrow.co/ is currently inaccessible normally.

    FXGROWReview Summary
    Founded2008
    Registered Country/RegionCyprus
    RegulationCySEC
    Market InstrumentsForex, bullion, indices, cash energies, commodities
    Demo Account/
    LeverageUp to 1:100
    EUR/USD Spread0.6 pips
    Trading PlatformMT4, MT5, FXGROW Web Trader
    Min Deposit$1
    Customer SupportTel: +357 25-211707
    Email: support@fxgrow.com
    Social media: Twitter, Instagram, Linkedin, YouTube, Facebook
    Address: Arc. Makariou C 59 Steratzias Court Block A, Office 14, 4003 Limassol, Cyprus

    FXGROW was registered in 2008 in Cyprus. It offers several types of products, including forex, bullion, indices, cash energies, and commodities. Besides, its minimum deposit is as low as $1, and the leverage can be up to 1:100. What's more, it is regulated in Cyprus.

    FXGROW's homepage

    Pros and Cons

    Pros Cons
    Regulated by CySECInaccessible website
    Diverse tradable instrumentsDeposit and withdrawal fees charged
    Tight EUR/USD spreads
    MT4 and MT5 supported
    Low minimum deposit
    Popular payment options

    Is FXGROW Legit?

    Yes, FXGROW is regulated by Cyprus Securities and Exchange Commission (CySEC). However, the Vanuatu Financial Services Commission (VFSC) sanctioned this company, and BAPPEBTI, a financial regulatory authority in Indonesia, once blacklisted FXGROW. Therefore, potential risks still cannot be ignored.

    Regulated byRegulated AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.
    		Cyprus Securities and Exchange Commission (CySEC)RegulatedCyprusMarket Making (MM)214/13
    Regulated by CySEC
    Disclosure 1
    Disclosure 2

    WikiFX Field Survey

    WikiFX field survey team visited FXGROW's regulatory address in Cyprus, but we did not find its physical office.

    WikiFX Field Survey

    What Can I Trade on FXGROW?

    FXGROW offers several types of products, including forex, bullion, indices, cash energies, and commodities.

    Tradable Instruments Supported
    Forex✔
    Bullion✔
    Indices✔
    Cash energies✔
    Commodities✔
    Stocks❌
    Cryptocurrencies❌
    Bonds❌
    Options❌
    ETFs❌
    What Can I Trade on FXGROW?

    Leverage

    The leverage can be up to 1:100. Careful considerations are recommended, since high leverage is likely to bring high potential risks.

    Spread

    The spreads vary depending on the types of currency pairs. Take the EUR/USD pair for example, which is 0.6 pips.

    Currency PairSpread
    EUR/USD0.6 pips
    USD/JPY1.3 pips
    GBP/JPY2.8 pips
    GBP/USD0.9 pips
    USD/CAD0 pips
    Spread 1
    Spread 2

    Trading Platform

    FXGROW uses MT4, MT5, and FXGROW Web Trader as its trading platforms.

    Trading PlatformSupported Available Devices Suitable for
    MT4✔Web, PC, mobileBeginners
    MT5✔Web, PC, mobileExperienced traders
    Web Trader✔Web/
    MT5

    Deposit and Withdrawal

    FXGROW supports several types of payment options, but it charges certain amounts of fees depending on the types of payment methods.

    Deposit

    Deposit OptionsAccepted CurrenciesFeesMin DepositProcessing Time
    VISAUSD/EUR1.9% - 2.9%$1Automatic
    MasterCard
    Neteller❌
    Skrill
    Bank Wire$1002-5 days
    Deposit

    Withdrawal

    Withdrawal OptionsAccepted CurrenciesFeesMin WithdrawalProcessing Time
    VISAUSD/EUR2 EUR$10Automatic
    MasterCard2EUR
    Neteller3.9%
    Skrill2.9% + 0.28/0.27
    Bank WireVaries depending on the bank$1002-5 days
    Withdrawal

    User Reviews

    More

    User comment

    5

    Comments

    Write a review

    洪霖
    more than one year
    FXGROW is a reliable foreign exchange company from the outside. It has been established for several years and has a reliable regulatory license. But it is not! There are too many scammers in the foreign exchange industry, and it is really difficult to identify them.
    FXGROW is a reliable foreign exchange company from the outside. It has been established for several years and has a reliable regulatory license. But it is not! There are too many scammers in the foreign exchange industry, and it is really difficult to identify them.
    Translate to English
    2023-02-20 18:54
    Reply
    0
    0
    噯緈緈
    more than one year
    I don't think the companies regulated by CYSEC are reliable. I have seen several companies that are effectively regulated by it, but this does not stop them from bluffing and deceiving.
    I don't think the companies regulated by CYSEC are reliable. I have seen several companies that are effectively regulated by it, but this does not stop them from bluffing and deceiving.
    Translate to English
    2023-02-16 10:08
    Reply
    0
    0
    17