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FXGROW -

Score

6.19 /10
Average

FXGROW

Cyprus

10-15 years

Regulated in Cyprus

Market Maker (MM)

White label MT5

High potential risk

http://fxgrow.co/

Influence

C

Add brokers

Comparison

Quantity 17

Exposure

Open Account
Website

Score

Regulatory Index6.67

Business Index8.21

Risk Management Index0.00

Software Index8.84

License Index6.32

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 : 2025-04-30
  • 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

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

FX2278760800
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.

QINGFENGXIYU70159
2020-10-01 07:53
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.

FX1613534446
2020-08-27 12:28
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.

HAIYAN82268
2020-10-29 23:39
Sources
Data Source WikiFX Data provide
Updated: 2025-04-30
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

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User comment

5

Comments

Write a review

Hà Lực
more than one year
An evil platform, they stole my $1,000, blocked my account, and I have nowhere to turn to! I was attracted by their advertisement of small investment becoming big returned. After I made a small profit, ready to withdraw my funds, they began to reject my withdrawal requests, ask me to deposit more funds, I refused, then they blocked my account. What should I do? Who can help me?
An evil platform, they stole my $1,000, blocked my account, and I have nowhere to turn to! I was attracted by their advertisement of small investment becoming big returned. After I made a small profit, ready to withdraw my funds, they began to reject my withdrawal requests, ask me to deposit more funds, I refused, then they blocked my account. What should I do? Who can help me?
Translate to English
2022-11-23 14:16
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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