FXRoad
Basic Information
Pros and Cons
Pros
- Offers various trading instruments
- Multiple account types available
- Demo accounts provided
- No commissions on trades
- Accessible customer support channels
Cons
- Unregulated broker status
- High minimum deposit requirement
- Lack of MT4/5 trading platforms
- Limited educational resources
- Customer support not available 24/7
Is FXRoad Safe and Legit?
FXRoad, incorporated in Seychelles in 2023, operates as an unregulated broker offering a range of trading instruments including major currency pairs, shares, cryptocurrencies, and commodities. The broker provides leverage up to 1:200 and features variable spreads starting from 1.2 pips across different account types. Trading platforms available include Webtrader, TradingView, and a proprietary FXRoad app for mobile devices.
Due to its lack of regulation by major financial authorities, FXRoad presents a higher risk profile for traders, and potential clients are advised to exercise caution when considering this broker for their trading activities.
Market feedback on FXRoad reveals a mixed reputation; while some users appreciate the tight spreads and user-friendly platform, there are notable complaints regarding withdrawal difficulties and overall transparency. Customer service experiences vary, with reports of limited support availability, and a significant number of users express concerns over the broker’s reliability and operational practices.
Is FXRoad a Regulated Broker?
What Are the Regulatory Licenses Held by FXRoad?
FXRoad, incorporated in Seychelles in 2023, currently does not hold any regulated licenses from major financial authorities. It operates as an unregulated broker, which means it does not have oversight from recognized regulatory bodies. Traders should be cautious, as the lack of regulation increases the risk associated with trading through this broker.
| Regulator Abbreviation | Full Name of Regulator | Regulated Company Entity | Regulatory Status | License Number |
|---|---|---|---|---|
| FSA | Financial Services Authority | 4 Square SY Limited | Only Offshore Regulation | SD052 |
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
FXRoad does not hold client funds in independently regulated bank accounts, as it operates without oversight from major financial authorities. Therefore, there are no specific rules regarding the segregation of client funds from the broker’s own assets. Traders should be cautious due to the associated risks.
FXRoad Leverage
FXRoad offers a maximum leverage of up to 1:200 across all account types. This leverage is available for both retail and professional clients. However, as an unregulated broker, it does not comply with local regulatory limits, which may vary in different jurisdictions.
FXRoad Withdrawal Review
How to Contact FXRoad?
Market feedback regarding FXRoad includes various complaints, particularly concerning withdrawal issues. Users have reported significant difficulties in accessing their funds, with some claiming they are unable to withdraw their money despite having substantial balances. Most complaints originate from credible sources, reflecting a common concern among traders. Response times for these issues vary, with many users expressing frustration over the broker’s handling of their complaints. There appears to be a notable frequency of similar complaints, although no regulatory penalties or warnings have been documented against FXRoad. Given its unregulated status, traders should approach with caution due to these ongoing concerns.
Frequently Asked Questions
A1: FXRoad is incorporated in Seychelles and operates as an unregulated broker. This means it does not hold any licenses from major financial authorities, which increases the risk for traders and necessitates caution when considering trading with them.
A2: FXRoad currently does not hold any regulatory licenses from recognized financial authorities, operating solely as an unregulated broker. This lack of oversight means that traders should be particularly careful and aware of the associated risks.
A3: FXRoad does not hold client funds in independently regulated bank accounts and lacks specific rules regarding the segregation of client funds. As a result, traders should be cautious regarding the safety of their investments.
A4: Yes, market feedback indicates that FXRoad has received numerous complaints about withdrawal difficulties. Many users have reported challenges in accessing their funds, which is a significant concern for potential clients.
A5: FXRoad offers multiple contact channels including a support email at support@fxroad.com and a phone number, +911171279109. However, customer support is not available 24/7, so users should be mindful of the specified service hours.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.