A Comprehensive FXRoad Review — Solid broker with superior Islamic accounts

FXRoad is a regulated Forex and CFD broker that offers a competitive trading environment with a focus on Islamic accounts. It operates under the strict oversight of the Financial Services Authority (FSA) of Seychelles, providing traders with a secure platform that features low spreads from 0.6 pips on major FX pairs and no commissions. The broker’s proprietary trading platform enhanced with TradingView charts is appealing for both new and experienced traders looking for technical analysis tools and modern design.

FXRoad Forex broker overview

FXRoad website is owned and operated by 4Square SY Ltd, which is a company registered in Seychelles. Although registered in Cyprus as a payments provider, FXRoad is only regulated in Seychelles and is not accepting clients from the EU and US as of now. The broker offers a variety of assets for trading such as FX pairs, indices, commodities, stock CFDs, and popular cryptos. All accounts provide a maximum leverage of 1:200. This diverse offering coupled with competitive spreads and 0 commissions makes FXRoad a suitable option for traders following Sharia laws and general FX traders alike. Here is the list of leverages for each asset class at FXRoad:

• Forex pairs – 1:200
• Indices and commodities – 1:50
• Cryptos – 1:5
• Stocks – 1:10

FXRoad Silver Account

The Silver account is ideal for experienced traders as it offers leverage up to 1:200 on Forex with spreads from 2.6 pips or 26 points. This account does not offer discounts on swaps.

FXRoad Gold Account

Gold account holders benefit from slightly lower spreads starting at 2 pips and a 25% discount on swaps. This account also has the same leverage capped at 1:200 for FX pairs and provides a balanced option for more frequent traders.

FXRoad Platinum Account

The FXRoad platinum account features the lowest spreads from 1.4 pips and a 50% discount on swaps compared to the silver account. It offers additional perks such as dedicated support, news alerts, and access to educational resources, making it the premium choice for serious traders. There is also a dedicated account manager assigned to platinum accounts.

FXRoad Islamic Account

The FXRoad Islamic account offers the most competitive conditions with spreads from just 0.6 pips on major FX pairs and zero commissions, fully compliant with Sharia laws. This account is particularly attractive to Islamic traders seeking ethical trading conditions.

FXRoad Deposits and Withdrawals

FXRoad supports a range of convenient payment methods including Visa, MasterCard, Google Pay, and Apple Pay. There are no fees charged by FXRoad for deposits and withdrawals, and withdrawal processing times vary from 1-2 business days for card payments to 5–7 days for wire transfers.

FXRoad Education, Platforms, Indicators, and Tools

While FXRoad does not support MT4 and MT5, its own trading platform is robust, featuring integration with TradingView. This setup offers extensive indicators and tools for detailed technical analysis. Educational sources are abundant for Gold and platinum accounts, including webinars, videos, and a dedicated account manager. The ability to access VIP webinars courses and video educational materials provides a unique opportunity for FX traders to gain knowledge from experienced traders.

FXRoad Additional Features

FXRoad provides additional features such as hedging, a trading method that can be used on all account types to limit risk exposure. Platinum account holders enjoy the most extensive array of features, such as VIP customer support and enhanced educational tools.

FXRoad Safety and Regulations

FXRoad adheres to stringent regulatory standards and is overseen by the FSA of Seychelles, ensuring high levels of trader protection. Safety measures include negative balance protection to prevent traders from losing more than their initial investment, and segregated bank accounts with top-tier banks. The broker also follows AML and KYC policies to safeguard traders’ assets and privacy.

FXRoad Customer Support

The broker excels in customer support with services available via live chat, email, and hotline. Support is accessible in multiple languages, enhancing the trading experience for non-English speakers. There is also an FAQs section, which is very well sorted according to topics and allows traders to get quick answers to general questions regarding FXRoad’s services.

Conclusion — Is FXRoad legit?

FXRoad is a legitimate broker regulated by the FSA of Seychelles, offering safe, secure, and competitive trading conditions. Its specialization in Islamic accounts, coupled with strategic account benefits and strong regulatory practices, makes FXRoad a reputable choice for traders globally. The spreads start from 0.6 pips on Islamic accounts and the minimum deposit is just 250 EUR.