Fxoro Review
- MCA Intelifunds Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission as well as other regulatory agencies across Europe.
- Clients funds are held in segregated accounts and insured by the client compensation funds subject to eligibility.
- FXOro offers a very robust customer service desk which is highly functional and available in several languages.
- FXOro offers a well-structured affiliate program.
- FXOro operates under market maker conditions and runs a dealing desk which fixes prices and executes orders. There is always the possibility of conflicts of interest in its dealings with clients.
- Asset listing is a bit too obsolete and does not feature asset classes that are the toast of traders of today.
- Accuracy and profitability of the trading signals service cannot be independently verified.
FXOro is the forex and CFD trading brand of the Cypriot Investment Firm known as MCA Intelifunds Ltd. This company operates out of Cyprus and is appropriately licensed by CySEC to carry out brokerage business.
FXOro provides its clients with 4 account options: Fixed, Floating, ECN and Islam-compliant accounts. Several special tools can be found on the platform of FXOro, some of which are the economic calendar, SMS signals services and a high frequency trading widget which provides forecast on currency direction for the day.
Trading Platforms
FXOro features three trading platforms which serve as the portals through which its clients can access the market. These platforms are listed below:
FXOro Webtrader
This is the browser-based trading terminal of FXOro. It is accessed as a trade portal URL on the website of FXOro. The webtrader is simply a web-based version of the MT4 platform and offers a stripped down version of this terminal. While suitable for those who want to access the trade portal from anywhere on the globe, it does not provide for the addition of custom indicators and EAs, making its functionality limited when compared to the MT4 desktop client.
One of the great features of the FXOro web trading platform is the economic calendar, which is an indispensable tool for news traders. The calendar comes with a variety of filters. Users can adjust the time periods to showcase the news for the day, the current week as well as the next week.
In addition to the calendar, other features that come with the webtrader include:
- Market updates and reviews.
- Trade signals delivered by SMS.
- Demo accounts
There is also the high frequency widget which displays currency direction forecasts that are continuously updated throughout the day.
FXOro MT4
FXOro MT4 is the company’s turnkey version of the most popular retail forex platform in the world today. This is a downloadable desktop software, compliant with Windows PCs only. This desktop trading client features great features such as:
- A very user-friendly interface which allows new tradersto easily adapt to market conditions.
- Interactive charts which are complemented with analytical tools and technical indicators.
- Automated trading capacity using EAs and custom indicators.
- Connectivity to the MQL Community where a wide range of products that augment trading activity can be purchased directly from within the platform.
The MT4 boasts of high encryption which secures the data between trader and server.
FXOro Mobile
FXOro also provides its clients with mobile trading apps that work on Android devices only. With the FXOro mobile trading app for Android devices, you can keep track of all closed or open positions, view charts, news and other data from a simplified interface that has been optimized for a great mobile viewing experience.
Trading Markets
Traders on FXOro can trade more than 100 assets across several markets. These markets feature assets that can be grouped into the following categories:
- Forex
- CFDs on stocks,
- Commodities
- Indices
Support
The customer support desk operated by FXOro has several channels, which gives clients and prospects several options with which to make inquiries or get issues resolved. The customer support channels are listed as follows:
- Physical address: Petrou Tsirou 82, Mesa Geitonia, 3076, Limassol, Cyprus.
- Phone: +357.25.20.5555 (Cyprus HQ); +44-203-695-4194 (UK)
- Email: [email protected]; [email protected] (general inquiries), [email protected] (partnership inquiries), [email protected] (complaints).
- Fax: +357-25-20-5556
- Live chat
- Online contact form
Security and Fairness
MCA Intelifunds Limited, operators of the FXOro brand, is registered in Cyprus as Cypriot Investment Firm (CIF) and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), with CIF License Number 126/10. The regulated status of this broker confers distinct protection advantages to the company’s clients.
FXOro is not only regulated by CySEC, but by other regulators around the world. The details of these licenses are stated below:
- CONSOB: Registration Number: 3318
- BAFIN: Registration Number: 126396
- MNB: Registration Number: K0000373
- FCA: Registration Number: 571351
- AMF: Registration Number: 74009
- ASF: Registration Number: PJM01FISMCYP1374
- CNMV: Registration Number: 3065
Conclusion
MCA Intelifunds Ltd, the company behind the FXOro brand, has taken a lot of pains to get licensing from several major European trading jurisdictions such as Cyprus, Germany and Bulgaria. This shows the company’s willingness to operate within the limits of investment laws and to provide a safe environment for its clients. However, the company has to meet the demands of today’s traders by offering assets that appeal to them. For instance, many of FXOro’s competitors are already offering several cryptocurrency pairs. If FXOro is to compete favourably with other CySEC-regulated firms, it needs to modernize its asset listing and perhaps, consider the construction of a proprietary trading platform to offer some product uniqueness.
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