FXRoad Review: What Traders Need to Know

Despite its aggressive marketing, the dealer garners a lukewarm level of trust within the trading community, with numerous negative reviews circulating online. FXRoad is regulated by an offshore supervisory body — hardly a reassuring factor. Clients are enticed with high leverage and contracts for difference (CFDs), both of which carry considerable risk. We decided to investigate whether this company is actually a scam.

FXRoad Snapshot

Legitimacy Check

FXRoad is overseen by an offshore regulator. While the company discloses the physical address of its headquarters on its website, no information is provided regarding its date of establishment. We decided to take a closer look at both regulatory matters and the company’s origins.

The broker claims to be regulated by the Financial Services Authority (FSA) of the Seychelles. This detail checks out — we verified its inclusion in the FSA registry. However, such oversight is not synonymous with reliability. Offshore regulators often exhibit leniency, turning a blind eye to breaches of client rights and issuing licences to firms with questionable reputations.

We further examined the stated office address via Google Maps. The results were telling: no firm matching FXRoad’s profile appears to operate at the location. This suggests a deliberate attempt to mislead inexperienced clients.

Fxroad.com Content Quality

The official website seems tailored for rapid promotion. The primary interface is in English and features banners promoting the company’s services and trading conditions. Logos of supported payment methods are displayed prominently.

Legal documents are housed under the “Legal” tab. While a client agreement is available, we noted the absence of AML (Anti-Money Laundering) and KYC (Know Your Customer) policies — a concerning omission.

Key Trading Features

FXRoad offers a selection of trading accounts: Silver, Gold, and Platinum. The main difference between them lies in spread levels. There is also an “Islamic Account” available. We wonder what the true terms of these accounts are, as very few specifics are disclosed.

The minimum deposit stands at €250. Curiously, the company doesn’t release information as to if this amount varies with account type. The company’s persistent demand for the amount, as well as user reports of accounts being blocked and cleared of funds, raise concerns.

Leverage can go up to 1:200, whereas European regulatory standards, on average, only accept a maximum leverage value of 1:50. Excessive leverage generally has a probability of hundreds to thousands higher for a financial loss in just a few trading sessions.

FXRoad’s primary financial instrument is the CFD. These instruments are inherently risky and, notably, create a conflict of interest — since brokers can profit from client losses. On the positive side, the platform does not accept clients from the United States, where CFD trading is banned outright.

Spreads begin at 0 points and may be over 2.6 points. Clients who are willing to deposit large amounts — amounts not specified — have preferential spreads. The firm does not offer precise information regarding the commission on trading. Though they advertise zero-deposit fees, the client agreement indicates that a 3% deposit fee can be charged.

The bonus system also warrants mention. FXRoad may offer bonuses at its own discretion, but they come with wagering conditions, making fund withdrawals impossible until such terms are met. Additionally, there is no affiliate programme on offer.

Ultimately, most of the partnership conditions are unfavourable. From the inflated leverage to the hidden fees and empty promises, the service structure appears geared towards loss rather than client success.

FXRoad Custom Utilities Insight

Trading is done through the online-based system called WebTrader. This browser-based terminal carries over TradingView charts, trade history, and an order book. Mobile and desktop applications are not available. Although fundamental features are available, there is no assurance of better execution or performance.

Customer Service Overview

Customer support is delivered through email and telephone. A live chat window is available in the bottom-right corner of the homepage. Contact numbers are provided, though they appear to serve only specific regions — namely Brazil and India.

We tested the published email using a validation tool and confirmed its authenticity.

Our Verdict

We do not suggest using FXRoad. The company is regulated by an offshore agency, provides a bogus street address, and offers a set of loss-generating trading terms — first and foremost, excessive leverage and overstated spreads. Trust in the project is dramatically low, and reviews from old users are either bad or paid for and seem like fakes.

About the author

Josh Middleton

Technical specialist

Josh Middleton is a technology enthusiast and software developer with a deep interest in financial markets. Josh has worked on developing trading platforms and algorithms for various brokers and fintech companies. His articles and reviews highlight brokers that offer innovative and user-friendly trading software, helping traders find the best technological solutions.