AdroFX Review |
|
| 📅 Year founded |
2018 |
| 📈 Multiple top-tier regulation |
No |
| 📍 Headquarters |
Port Vila, Vanuatu |
| 🌍 Country of regulation |
Vanuatu |
| ✅ Regulators |
VFSC |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
$25 USD |
| 🛡️ Negative Balance Protection |
Yes |
| 📉 Trading Platforms |
MetaTrader4 / Allpips |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
Forex / Shares / Indices / Metals / Cryptocurrencies |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Debit and Credit Cards / Bank Wire Transfer / Skrill / Neteller / Sticpay / Perfect Money / Payeer / Cryptocurrencies |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
Yes |
| 🎁 Bonus Offer |
Deposit bonuses / Refer-a-Friend / Cashback / Insurance Promo / EA Promo |
| 💰 Account Currencies |
USD / EUR / GBP |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
ECN / STP |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
After 6 consecutive months |
| 💰 Withdrawal fee |
If account was inactive |
| ☎ Customer Support |
24/5 |
| 💰 Max. Leverage |
500:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
None |
| 💰 Spreads |
From 0.4 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
60 + |
| 🔢 Number of clients |
1 000 000 + |
| 🥇 Instruments Offered |
115 + |
| 📙 Education |
eBooks / Educational Videos / Forex Glossary / Trading Signals |
WHAT IS ADROFX?
Founded in 2018, AdroFx has quickly become a globally recognised forex and CFD broker, offering traders access to a broad spectrum of financial markets. These include major, minor and exotic currency pairs, shares, indices, metals and cryptocurrencies.
Established with the aim of providing a robust trading environment, AdroFx combines advanced trading technologies with user-friendly services to cater to both novice and experienced traders.
With its main headquarters based in Port Vila, Vanuatu, AdroFx has established itself as a reputable forex broker in no time at all. Their expansion has already led to over 1 000 000 client accounts opened with the broker and over 100 employees around the globe, serving customers in over 200 countries.
INTRODUCTION
In the competitive world of online trading, AdroFx has carved out a niche for itself by focusing on delivering superior trading conditions, comprehensive market access and dedicated customer support.
It operates on the principle of transparency, aiming to build long-term relationships with its clients through trust and performance.
Before diving deeper into a review on this broker, we explore the pros and cons to gain a better understanding and outline of what AdroFx is all about.
PROS & CONS
PROS:
- AdroFx offers a wide array of assets across forex, shares, indices, metals and cryptocurrencies, with over 115 instruments to choose from.
- The broker provides user-friendly trading platforms in the form of MetaTrader4 (MT4) and Allpips, recognised for their advanced features and ease of use.
- Features competitive spreads and low commission rates, enhancing trading profitability.
- Catering to different trading styles and budgets with a variety of account options. The broker offers 8 different accounts to choose from.
- AdroFx offers a wide range of educational materials which any new trader would find helpful.
CONS:
- The broker does offer limited shares options to be traded. This can certainly be improved in the future.
- AdroFx is only regulated in one jurisdiction, by the VFSC in Vanuatu. For the broker to become more trusted, the team at Brokersuggest.com would love to see AdroFx be regulated across multiple jurisdictions.
TRADING INSTRUMENTS
AdroFx boasts a comprehensive selection of trading instruments across various asset classes, ensuring that traders have access to a diversified portfolio for trading. Here’s a closer look at the offerings:
Forex
As a cornerstone of the AdroFx trading experience, the forex market offers traders the opportunity to engage with major, minor and exotic currency pairs.
This includes popular pairs like EUR / USD, GBP / USD and USD/JPY, among others, providing ample opportunities for traders to speculate on currency movements in response to global economic changes. There are over 60 currency pairs available to be traded with AdroFx.
Shares
For those interested in the stock market, AdroFx provides access to shares of leading companies on the US Stock Market. This allows traders to invest in the performance of over 40 of their favourite companies and industries, from tech giants to automotive leaders, offering a way to engage with the equity market without the need to purchase the underlying stocks directly.
Indices
Trading indices with AdroFx opens up the possibility of speculating on the overall performance of a country’s stock market or a specific sector.
Indices like the S&P 500, FTSE 100 and DAX offer snapshots of market trends and are popular among traders looking to diversify their portfolios without having to analyse individual stocks.
Metals
The broker also offers trading in precious metals, including gold and silver. These commodities are traditionally viewed as safe havens during times of economic uncertainty and can be used as a hedge against currency devaluation.
Cryptocurrencies
With the growing interest in digital currencies, AdroFx provides traders with the opportunity to trade in popular cryptocurrencies such as Bitcoin, Ethereum and Litecoin. This asset class is known for its volatility, offering potential for significant profit but also higher risk.
AdroFx’s wide range of trading instruments ensures that its clients can take advantage of various market conditions across different asset classes.
Whether interested in the rapid movements of the forex market, the solid value of precious metals, the innovative potential of cryptocurrencies, the broad view provided by indices, or the specific opportunities presented by shares, traders at AdroFx have the tools and options to diversify their trading strategies effectively.
TRADING PLATFORMS
AdroFx provides its traders with access to two dynamic trading platforms: MetaTrader4 (MT4) and Allpips. These platforms cater to the needs of traders with different preferences and trading styles, offering a range of functionalities.
MetaTrader4 (MT4)
MT4 is renowned for its advanced charting tools, user-friendly interface and comprehensive analytical options. It supports a wide range of order types, provides access to historical data and allows for automated trading through Expert Advisors (EAs).
MT4’s robustness and reliability make it a favourite among forex traders worldwide. AdroFx’s clients can leverage MT4’s capabilities to execute complex trading strategies, perform detailed technical analysis and manage their trades with precision and efficiency.
Allpips
Allpips is a relatively new platform that offers a fresh perspective on trading interfaces and tools. Designed with a focus on user experience, Allpips provides an intuitive and customisable trading environment.
It features advanced charting capabilities, one-click trading and a range of technical indicators and graphical objects. With its modern design and flexible trading system, Allpips is positioned as an attractive alternative to traditional platforms, offering a seamless trading experience across web and mobile devices.
By offering MT4 alongside Allpips, AdroFx ensures that its clients have access to the best of both worlds: the proven reliability and widespread acceptance of MT4 and the innovative, user-centric design of Allpips.
This combination allows traders to choose the platform that best fits their trading style and preferences, ensuring a comfortable and efficient trading experience.
ACCOUNT TYPES
AdroFx caters to a diverse clientele by offering a variety of account types across two different trading platforms, Allpips and MT4.
Each account type is designed to meet the unique needs and preferences of traders, ranging from beginners to seasoned investors. Below is an overview of the account types available on each platform:
Allpips Platform
- Fiat Account: Tailored for traders who prefer to trade with traditional currency pairs and financial instruments. This account offers a comprehensive trading experience with a minimum deposit of only 100 USD / EUR / GBP and spreads from 0.4 pips.
- Crypto Account: This account type allows traders to engage with popular cryptocurrencies, offering the potential for high volatility and profit margins. This account type requires your deposit to be in $100 USD worth of Bitcoin or Ethereum with spreads available from only 0.4 pips.
- Cent Pro Account: A great option for novice traders or those looking to test their strategies with minimal risk. The Cent Pro Account deals in smaller currency units, making it easier to manage risk while gaining valuable trading experience. With a minimum deposit of only $25 USD, trader can trade lots from as small as 0.0001 lots per trade.
MT4 Platform
- Pro Account: Offers competitive spreads starting from 0.4 pips and no commission charges. This account type requires a hefty minimum deposit of 10 000 USD / EUR / GBP. This account provides access to a wide range of instruments with high execution speed and leverage options.
- Premium Account: The Premium account enjoys the same benefits as the Pro account, however at a more affordable minimum deposit amount of 2 000 USD / EUR / GBP.
- Standard Account: A versatile account type that balances accessible minimum deposit requirements with competitive trading conditions. Spreads on this account start from 1.2 pips and a minimum deposit of 100 USD / EUR / GBP is required.
- Micro Pro Account: Tailored to traders who wish to trade with smaller lot sizes. This account type reduces the risk while still providing access to trade in a real money environment, making it perfect for those new to trading or looking to practice strategies with lower capital. This account only has access to forex and metals but with a low spread of 0.8 pips and a minimum deposit of only 100 USD / EUR / GBP.
- Micro Account: The most accessible account, designed for beginners with a low minimum deposit requirement. It allows traders to experience the live trading environment with reduced risk, offering smaller lot sizes and a higher spread at 1.4 pips. The minimum deposit required for this account is only $25 USD.
AdroFx’s wide range of account options across both Allpips and MT4 platforms ensures that traders can select the account that best fits their trading style, experience level and financial goals.
Whether looking for low-risk opportunities, engaging in crypto markets, or seeking professional trading conditions, AdroFx provides tailored solutions to meet those needs.
HOW TO OPEN AN ACCOUNT
Opening an account with AdroFx is a streamlined process. Prospective traders need to fill out an online application form, provide necessary identification documents for KYC purposes and make an initial deposit.
The process is designed to be quick and efficient, allowing traders to start trading as soon as their accounts are verified.
DEMO ACCOUNT
AdroFx offers a free demo account, mirroring live market conditions. It’s a risk-free way for traders to practice their strategies, familiarise themselves with the trading platforms and understand market dynamics without the risk of losing real money.
An additional benefit of AdroFx is that they make their demo accounts available in any of the account types they have available. This is a massive advantage to traders as their demo experience will resemble what they can expect when they actually open a live account.
SOCIAL TRADING AND COPY TRADING
AdroFx embraces the concept of social and copy trading, facilitating an environment where less experienced traders can replicate the strategies of seasoned traders. This not only accelerates the learning curve but also allows novice traders to potentially profit from the market movements while they learn.
The broker even offers their own trading signals on their website, providing 5-7 signals per day with a monthly pip target of 3 500 + pips.
Unfortunately, only accounts on the Allpips platform allow copy trading.
COMMISSIONS AND FEES
The broker prides itself on its transparent fee structure. While all the accounts have some sort of spread where the broker would earn its fees from, none of the accounts charge commissions on your trades.
This ensures that commissions paid, are transparent and traders will not be in for any surprises.
There are swap fees applicable on all the accounts, but this is standard for forex brokers to charge a fee when traders hold positions open overnight or over weekends.
Each account type also has a swap-free option, which is in line with the Islamic faith and aimed at traders who must adhere to their religious principles.
LEVERAGE
Leverage at AdroFx varies by account type and asset class, offering flexibility to traders with different risk appetites.
It allows traders to open positions much larger than their initial investment, potentially increasing their profit on successful trades, though it also increases the risk.
At AdroFx, each account type has a maximum leverage of up to 500:1 for traders to utilise. The leverage is flexible and can easily be changed on your account settings.
WITHDRAWALS AND DEPOSITS
AdroFx supports a variety of deposit and withdrawal methods, including bank wire transfers, credit / debit cards and e-wallets. The broker has recently also added cryptocurrencies in the form of Bitcoin and Tether for traders to utilise.
The broker has streamlined these processes to ensure quick and efficient account funding and withdrawals, subject to certain security checks.
There are no fees applicable when traders make deposits and an inactivity fee only applies once an account has been inactive for 6 consecutive months. The broker does not charge withdrawal fees, however depending on the withdrawal method, there may be third-party fees applicable.
Additionally, the broker may charge a withdrawal fee if the trader’s account has been completely inactive and a withdrawal is then requested.
CUSTOMER SERVICE
The broker’s customer service team is accessible 24 / 5 via live chat, email and phone. Support is available in multiple languages, reflecting the global reach of AdroFx.
The team is well-regarded for its responsiveness and ability to address client queries effectively. With over 100 employees attending to the needs of clients in over 200 countries, the customer service team at AdroFx is able to solve problems in multiple languages.
SAFETY AND SECURITY
AdroFx places a high emphasis on the safety and security of its clients’ funds and personal information, implementing a multi-layered approach to ensure a secure trading environment. Here’s a detailed look at the measures AdroFx employs:
Regulatory Compliance
AdroFx operates under strict regulatory guidelines, adhering to international standards for financial services. Compliance with these regulations implemented by the VSFC ensures that the broker operates transparently, maintains adequate capital reserves and provides a level of investor protection.
Regulatory oversight also means that AdroFx is regularly audited, ensuring financial transparency and ethical business practices.
Segregation of Funds
To protect traders’ funds, AdroFx segregates client funds from its own operational funds. This separation is crucial in the unlikely event of the broker’s insolvency, as it ensures that clients’ funds are not used for operational purposes and can be returned to clients.
Segregated accounts are held in reputable banks, further enhancing the security of traders’ capital.
SSL Encryption
The broker employs Secure Socket Layer (SSL) encryption technology to safeguard data transmission between clients’ devices and AdroFx servers. This encryption ensures that all personal and financial information exchanged is protected from interception by third parties.
SSL encryption is a standard security practice in the financial industry, reflecting AdroFx’s commitment to maintaining the confidentiality and integrity of client data.
Negative Balance Protection
The broker provides its clients with negative balance protection, meaning that your account can never be in a negative balance. This is crucial as traders will never lose more than they have risked.
Market-Leading Insurance
AdroFx insures its clients’ funds, at no extra cost to clients, up to an amount of $500 000 USD, in the case of negligence, fraud, errors or any other omissions which may lead to financial loss. This is a testament to the broker’s commitment to ensure the protection of their clients’ funds.
By prioritising safety and security through these comprehensive measures, AdroFx demonstrates its commitment to providing a secure and trustworthy trading environment for its clients.
This dedication to security not only protects clients’ investments but also reinforces the broker’s reputation as a reliable and safe choice for traders worldwide.
PROMOTIONS
AdroFx offers a wide range of promotions to its customers, including a deposit bonus of up to 100%, a Refer-a-Friend programme, cashback, insurance promotions and an EA promotion.
These bonus offers represent good value and are attractive to any potential traders who may join AdroFx. For further terms and conditions regarding these promotional offers, view the Bonus & Promotions tab on the broker’s website.
RESEARCH
Traders at AdroFx benefit from comprehensive market research tools, including economic calendars, real-time news feeds and in-depth market analysis. These resources are designed to help traders make informed decisions by staying updated on market trends and economic events.
In addition to this, traders can access the wide variety of research tools available on MT4 and Allpips, ensuring traders are always up to date with market movements.
EDUCATION
AdroFx has a wide range of educational tools available on its website. It offers various, in-depth eBooks to its clients, as well as educational videos.
While this may not sound like much, the quality of their offering in these two categories is superb and even experienced traders will be able to learn from it.
The broker also provides trading signals, which when used correctly, can be a great tool for new traders to see and experience how professional traders trade.
GLOBAL AWARDS
AdroFx has won multiple global awards since its inception in 2018, highlighting the broker’s excellent trading conditions and indicating their status as a great forex broker in the industry, despite being a relatively new broker.
Below are some of their most recent awards:
- Most Outstanding Micro Trading Forex Brokerage Company Vanuatu (2023) – Finance Derivative.
- Best Online Forex Training Brokerage Company Vanuatu (2023) – Finance Derivative.
- Best Tools for Investors Europe (2023) – Global Business Review Magazine.
- Fastest Growing Forex Fintech Broker (2023) – Global Business Review Magazine.
- Best ECN / STP Broker (2022) – Forexing Awards.
- Best Affiliate Program Europe (2022) – International Business Magazine.
- Fastest Growing Forex Broker Europe (2022) – International Business Magazine.
- Most Innovative Broker (2022) – Forexing Awards.
SAFE OR SCAM?
In evaluating whether AdroFx is a safe broker, it’s essential to consider various factors that contribute to the legitimacy and reliability of a financial service provider.
Regulatory Oversight
AdroFx is subject to regulatory scrutiny by a reputable financial authority, in the VFSC. This oversight ensures the broker adheres to strict financial standards, ethical trading practices and client protection measures.
Regulatory compliance is a strong indicator of a broker’s legitimacy, as it means the broker operates with transparency and accountability.
Client Reviews and Feedback
The experiences shared by existing or past clients can offer invaluable insights into the broker’s operations, customer service quality and reliability. Positive feedback and satisfied clients are good indicators of a trustworthy broker.
AdroFx has received great reviews from their clients and with over 1 000 000 client accounts worldwide, they are clearly a trusted broker.
Security Measures
AdroFx’s investment in security measures, such as SSL encryption, segregated client funds and market-leading insurance, underscores its commitment to safeguarding clients’ personal and financial information.
A focus on security is indicative of a broker’s dedication to providing a safe trading environment, reducing the risk of fraudulent activities.
From the above, it is clear that AdroFx is a transparent broker which values its clients’ safety and security. Of course, the team at Brokersuggest.com always wants to see multiple regulatory authorities regulating brokers, as this is a great sign of a transparent and accountable broker, so this is something AdroFx could add to their offering in the future.
CONCLUSION
AdroFx stands out as a competitive broker in the forex and CFD trading industry, thanks to its wide range of trading instruments, advanced platforms and flexible account options.
The broker offers low spreads and does not charge commission on trades, making it an attractive option for any trader.
The only drawback would be the rather limited amount of trading instruments available to clients, however, new brokers do to tend to add more instruments fairly quickly once they are established.
The broker offers a wide variety of educational materials and has put significant security measures in place, highlighting the fact that they care about their customers.
After conducting the above review, the team at Brokersuggest.com can conclude by saying that AdroFx is a good broker with an even brighter future.
