AdroFX Forex Review

Read our full AdroFX review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased AdroFX opinion allows our readers to decide whether AdroFX is a reliable broker.

AdroFX Forex Broker History

Established in 2018, AdroFX presents itself as a global FX and CFD broker. The company initially operated with offshore licenses from Vanuatu and Saint Vincent and the Grenadines but has since lost its regulatory status, which is a major safety risk. It now runs as an unregulated broker while continuing to promote its trading services. As a result, there were several cases when FCA and Spanish regulators issued warnings against AdroFX for offering trading services without any license, making the broker a very risky entity to open a real account with.

AdroFX broker safety

AdroFX is now unregulated. It was previously registered under the Vanuatu Financial Services Commission (VFSC) and the SVG Financial Services Authority but is no longer licensed, which makes it an unreliable broker. To lose licenses means to do something in a bad way which is never a good thing in online financial trading. Couple this with several warnings and we got a risky broker which might not be a scam but definitely lacks proper reliability.

AdroFX Broker Review of Accounts

AdroFX offers three account types, Fiat, Crypto, and Cent Pro. A Fiat account has USD, EUR, and GBP base currencies while a crypto account enables traders to deposit and trade using cryptos like BTC and ETH. The cent account is for traders who have a low budget.

Fiat account has the following offerings:

• Minimum deposit – 100 EUR/USD/GBP
• Maximum leverage – 1:500
• Spreads from – From 0.4 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

As we can see, the minimum deposit is 100 USD which is not competitive as there are many other brokers with lower minimum deposit requirements.

Crypto account offers the following:

• Minimum deposit – 100 EBTC/ETH
• Maximum leverage – 1:500
• Spreads from – From 0.4 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

On this account, traders can use Bitcoin and Ethereum to directly trade using these cryptos on FX, commodities, indices, stocks, and cryptos.

The AdroFX Cent Pro account requires the following:

• Minimum deposit – 25 USD
• Maximum leverage – 1:500
• Spreads from – From 0.4 pips
• Commissions – 0 USD
• Minimum lot size – 0.001 lots

This account has the smallest minimum lot size which is suitable for beginners who have a small budget.

AdroFX instruments

Traders can trade across multiple asset classes including Forex pairs, metals, stocks, indices, and cryptocurrencies. The broker advertises tight spreads and high leverage, making it suitable for short-term strategies like scalping. However, safety concerns remain a drawback. The leverage is 1:500 and spreads are from 0.4 pips, which makes the broker really attractive and if not for its safety risks, then it would be super competitive.

AdroFX Reviews of Trading Platforms

AdroFX provides access to Allpips trading platform, which is a web-based trading platform. Allpips is also available on PC, mobile, and tablets, which is very useful. The platform offers a basic interface suitable for everyday trading but lacks advanced tools such as automated trading (EAs) and custom indicators, features offered by advanced platforms like MT4 and MT5. The platform is available on both iOS and Android devices.

AdroFX Forex Review of Extra Features

The broker offers a few tools such as market analysis, an FX glossary, trading calculators, an economic calendar, and VPS services. Promotions include a 20% deposit bonus and a 100% margin bonus. Copy trading services are available as well. There is a trading blog, news, and analytics offered which is flexible.

AdroFX Reviews of Customer Support

Customer service is accessible via live chat, email, and phone channels. The website supports multiple languages, and the integrated live chat offers quick connections to broker representatives, including callback and call request options. The support is multilingual as well as a website which is useful for international traders.

AdroFX Deposit and Withdrawal

AdroFX supports deposits via wire transfer, credit and debit cards (Visa, MasterCard), cryptos, and e-wallets like Skrill, Sticpay, and Payeer. Deposits are mostly instant, while withdrawals are processed within 24 hours. Although deposits are fee-free, withdrawal fees and bank charges may apply.

AdroFX Review Conclusion – can you trust AdroFX?

While AdroFX offers competitive trading conditions and diverse account options. However, its unregulated status and regulatory warnings pose significant safety risks. The leverage is high at 1:500 and spreads from 0.4 pips, the broker has several accounts which offer competitive conditions. Traders seeking secure brokers should be cautious and consider better-regulated brokers.

FAQs on AdroFX

Is AdroFX a scam?

AdroFX scam is a real possibility as the broker lost its licenses from Vanuatu and SVG and is currently unregulated.

What is the AdroFX minimum deposit?

The lowest deposit requirement is $25 on the Cent Pro account, which is competitive.

Is AdroFX a cheap broker?

Yes, in terms of trading costs. It offers tight spreads starting from 0.4 pips and zero commissions on all account types.