The company promises traders low spreads, leverage up to 1:200, quality support, and other high-level conditions, but should these claims be trusted? There are too many questions surrounding FXRoad. Can such a platform truly be a reliable broker, or is it just another scam designed to drain clients’ deposits? In this review, we will examine how the company operates, analyze its offerings, and determine whether it is possible to make money here or if it is better to stay away.
Table of Contents
Highlights
| 🏛️ Country | Seychelles |
| ⚠️ Regulation | SFSA |
| 🖥️ Website | https://www.fxroad.com |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 2024 |
| 💲 Minimum Deposit | $250 |
| ⚖️ Minimum and Maximum Leverage | 1:200 |
| ⚙️ Trading Platform | WebTrader |
| support@fxroad.com | |
| 📞 Phone | +5561947565589, +911171279109 |
First Impression of Fxroad.com
The company’s official website is designed in white and blue tones. The homepage features a sports car with the broker’s logo, a main menu at the top, login/registration options, and a language switch button. Overall, everything looks fairly standard.
The “Why Us” and “About” sections do not fully disclose information about FXRoad. Yes, they mention the SFSA license, segregated accounts, features, and trading conditions, but there is no data on how long the platform has been operating or who its founder is. The company’s business model is also not explained in detail.
Additionally, the company has resorted to typical marketing tricks: pseudo-motivational phrases such as “Why do traders choose FXRoad?” or “The ultimate trading platform for all skill levels.” We doubt that users are actively choosing this firm — at the very least, social media activity is minimal, which is not typical for a popular platform with a large client base. There is also little information about the trading platform itself, but we will analyze it in more detail later.
The broker has created an ordinary website but presents itself as if it were a major organization where hundreds of thousands or even millions of traders operate. However, this is far from reality. The attempt to portray itself as the best and most reliable broker is reminiscent of a schoolboy trying to act like the coolest kid in class. It looks ridiculous and artificial, making it immediately obvious.
Partnership and Bonuses
FXRoad’s bonus program is a trap designed to keep clients on the platform for as long as possible. For every $1,000 in bonus funds, traders must execute a volume of 300 lots, with one standard lot equating to a $100,000 trade. This makes it nearly impossible to work off the bonus, especially for beginners. Any attempt to withdraw funds before meeting the conditions results in a penalty — the broker simply deducts all profits earned using bonus money. As a result, even if a trader makes a profit, they will not be able to withdraw funds until they meet the nearly impossible trading requirements. Reviews frequently mention withdrawal issues because users took advantage of the bonuses.
It seems that FXRoad does not offer an affiliate program. There is no dedicated section for it on the official website, nor are there any other indications of its existence. However, we may be able to find it in the user dashboard. Therefore, the next thing we will examine is how to register an account.
Account Opening on Fxroad.com
The broker significantly complicates life for potential clients right from the registration stage. The first major issue is strict territorial restrictions. The company does not operate in the U.S., which is not surprising, but it also blocks traders from Canada, Japan, and all of Europe. Only companies that do not want to comply with strict regulations impose such limitations. For example, top-tier licensed brokers like Interactive Brokers or Saxo Bank open accounts for clients from Europe and Canada without any issues. In contrast, FXRoad simply does not want to conform to the stringent laws of these countries.
Even if you are lucky enough to be in an eligible country, another headache awaits — registration. You cannot simply fill out a basic form with an email and password. FXRoad immediately bombards users with multiple pages of questions. You must provide your full name, passport details, tax identification number, income level, and even trading experience. It is unclear why the broker needs all this information. If it followed European standards and categorized clients into retail and professional traders, this would make some sense. However, here everyone is automatically classified as a “professional”, making the process illogical.
After registration, another unpleasant surprise awaits — an inconvenient user dashboard. Instead of a well-organized layout, the broker has thrown everything together: some buttons are on the left, and others are hidden in a dropdown menu on the right. However, a demo account is available for testing the service.
Verification
Verification is mandatory at FXRoad, as the broker follows the requirements of the SFSA regulator. In other words, the company must know who is trading on its platform. Clients are required to provide two key documents: proof of identity and proof of residence. A third document — details of the deposit transaction, such as a photo of the bank card used for the deposit — may also be requested.
There are also drawbacks. For instance, the broker may reject verification requests and require resubmission of documents without providing a reason. Additionally, there are no stated timeframes for how long the company takes to review and approve the documents.
- KYC procedure is a mandatory process.
- FXRoad does not specify the exact timeframe within which it must verify the data.
- The platform may refuse KYC without giving a reason and request that the documents be submitted again.
Trading Software
As mentioned earlier, the broker calls its terminal “The ultimate trading platform for all skill levels”. However, we cannot agree with this claim. If the platform is suitable for all traders, then where are the essential features for scalping? There is no one-click order execution, order book, depth of market, or other crucial tools that scalpers rely on. Where is the option to upload custom indicators? Professional traders develop their own indicators and tools for their trading strategies, which they need to integrate into the platform for practical use. Modern and advanced trading terminals support this functionality, but FXRoad’s software does not.
This platform is only suitable for basic technical and graphical analysis — nothing more. The terminal supports only fundamental functions such as limit orders, popular indicators, horizontal and trend lines, Fibonacci retracements, and various timeframes starting from 1 minute. There are not even tick charts available. So, calling it an “ultimate” platform is far from the truth.
| Features | FXRoad | Winstone Investment Group | Mayfair Wealth Ltd |
|---|---|---|---|
| Demo Account | ✔️ | ❌ | ❌ |
| Mobile App | ✔️ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With FXRoad?
The company offers trading in all popular assets: forex, metals, indices, commodities, cryptocurrencies, and stocks. The minimum deposit is $250. It’s neither too high nor too low. Additionally, some conditions depend on the chosen tariff plan. Let’s take a closer look at these plans now.
All Info About Accounts
FXRoad has developed three trading accounts, in addition to an Islamic and a demo account:
- Silver. Spreads for major currency pairs start at 2.6 pips, with hedging and technical support available.
- Gold. Tighter spreads starting from 2.0 pips. Includes a dedicated personal manager, webinars, and videos.
- Platinum. The difference from Gold is the addition of news notifications, with spreads starting from 1.4 pips.
The higher the tariff, the better the conditions: lower spreads, more bonuses, and additional tools. However, FXRoad does not disclose how much one needs to deposit to get a Gold or Platinum account. This is a strange practice. Top brokers like Interactive Brokers or IC Markets clearly outline all the conditions. Here, the trader has to act blindly, not knowing how much money is expected of them.
The company offers better conditions only to those willing to pay more. This is a classic scheme designed to extract money from clients. Without specific amounts for the tariffs, it creates the impression that the broker is deliberately hiding the entry threshold in order to push more expensive conditions on the trader later.
Commissions are not disclosed, but on the homepage, the broker promises “no hidden fees”. This might imply that the trader only pays the spread. However, this raises a question: how, then, does FXRoad make money? Given that the company does not disclose its business model, and trading is only on CFDs with fixed spreads, it can be assumed that this is a classic dealing desk setup. In other words, the platform acts as the counterparty to the trade. This creates a conflict of interest: the client wants to make a profit, but the company is interested in them losing.
FXRoad also offers leverage up to 1:200 and volumes starting from 0.01 lots. There are no ECN accounts or cent accounts available.
- There’s a demo account.
- There are no ECN and cents tariffs.
- The broker works on a 100% B-Book business model, which means conflict of interest.
- High starting deposit of $250.
Market Analysis and Education With Fxroad.com
The company publishes various updates and news on its social media platforms. Additionally, FXRoad invites traders to join their community, where market ideas, insights, analytics, and other content for users are shared.
Deposit, Withdrawal, and Fees
The broker supports the main methods for depositing and withdrawing funds:
- Credit/debit cards.
- Bank wire transfers.
- Cryptocurrency.
There are no fees for deposits and withdrawals. However, FXRoad does not disclose the processing times for withdrawal requests.
| Features | FXRoad | FinBitPro | JK Analytics |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ✔️ | ✔️ |
| Crypto Transfers | ✔️ | ❌ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ✔️ | ✔️ |
How Can I Contact It?
You can contact FXRoad managers in various ways: via email, phone call to the call center, and online chat. Additionally, you can leave a message in the contact form or try to reach out through their social media accounts. However, not everything is as good as it seems. For example, in online chat, you may wait for a response for a long time without getting one. The same situation occurs on social media — there is little activity and very few followers.
- All major ways of communication are available.
- The online chat has long answers.
Is FXRoad Dangerous?
The company does not appear to be an outright scam, but we have not yet verified its licenses and legal information. The official website, trading conditions, and other aspects do not seem suspicious, although they do have certain drawbacks. We will continue to investigate.
How Long Does The Broker Work?
The length of time a company has been in operation plays an important role — the older the company, the more trust it generally earns. FXRoad’s official website does not list the exact founding date, so we had to look for it through other methods. One such method was checking the domain. The company’s domain registration date is 2011, but we doubt the company has been around for that long.
Using WebArchive, we found a snapshot from March 23, 2024, with the phrase “Our Website is Coming Soon, Stay Tuned!” This suggests that the platform launched after this date. As of the time of writing this review, FXRoad has been in operation for less than a year.
We tried to find other suspicious aspects related to the domain fxroad.com. Overall, the situation is neutral, with both positives and negatives. For example, one notable downside is that several spammers and scammers use the same domain registrar.
How Is FXRoad Regulated?
Now, let’s look at the licenses. The website states that the legal entity behind the platform is 4 Square SY Limited. It is registered in the Seychelles and holds an SFSA license. Not only does this legal entity own FXRoad, but it also owns a platform called Capitalix. Why does this organization have two forex brokers with identical conditions? We don’t know the answer, but it does look suspicious.
Let’s add some context about the SFSA (Financial Services Authority of Seychelles) so you can understand the nature of this regulator. The SFSA license is considered weak because it does not impose strict oversight on brokers. This regulator does not require companies to keep client funds segregated from their own, does not impose stringent leverage limits, and does not mandate deposit insurance.
Unlike the FCA (UK) or ASIC (Australia), which require detailed reporting, fund segregation, and compensation funds, the SFSA is more focused on attracting business than on protecting clients. For this reason, scammers often choose Seychelles registration, as the risks of being penalized are minimal.
| Features | FXRoad | InsideTheFund | Prime-CC |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ✔️ | ❌ | ❌ |
What is the minimum deposit in FXRoad?
Is FXRoad Legit?
How Risky Is It?
Kevin Berry Don’t pay attention to SFSA regulation — it does not protect the interests of traders. It’s better to consider companies regulated by CySEC, FCA, ASIC, and other more reputable regulators. And let’s not forget that FXRoad’s profits come at the expense of client losses. There is no reason to trade where the goal is to make traders lose. A broker should be a mediator, not a counterparty.
FXRoad rating
1 review about FXRoad
The company has a poor reputation. I also confirm that it is not possible to trade seriously and professionally in the long term here. Sooner or later, you will encounter issues such as lag, higher spreads, and more. FXRoad will do everything possible to ensure you lose money. I traded with this scam, and nothing good came of it. Only the terrible experience of a lost deposit.