April 26, 2022
What is AdroFx? AdroFx is a relative newcomer to the global forex brokerage space, having been established in 2018. It is regulated by two Tier-2 jurisdictions. The company is licensed and authorised by the Vanuatu Financial Services Commission (VFSC) and the Financial Services Authority (FSA) in Saint Vincent and the Grenadines. It supports traders in 200+ countries with 100+ employees.
Offering of Financial Instruments
AdroFx offers trading in contracts for difference (CFDs) for five investment categories. The portfolio offering is limited to fewer than 120 tradable assets, but the items offered are the most popular in each subgroup. Beginners and intermediate traders will find the asset list appealing and not overwhelming. The Micro account class, however, is limited to forex and metals trading in CFDs only.
- Forex: CFDs in 60 currency pairs, including majors and a few minors
- Stocks: CFDs in 42 popular stock offerings
- Cryptocurrencies: CFDs for four popular coins ? BTC (Bitcoin), ETH (Ethereum), XRP (Ripple) and LTC (Litecoin)
- Indices: CFDs for nine global indices
- Metals: CFDs for gold and silver
AdroFx Trading Account Types
AdroFx offers four account categories, but each comes with a free demo system. Newcomers might prefer the Micro account, but it is limited to CFD trading for currency pairs and metals. The remaining three classifications are Standard, Premium and Pro, each dependent on the level of opening account deposit. The following table delineates the minor differences between each account offering:
In addition, AdroFx offers four accounts that are linked to the Allpips platform. These accounts include:
- Crypto – this account will appeal to crypto traders. Traders will need a minimum deposit of $100, which can be funded with either Bitcoin or Ethereum.
- Fiat – similar to the crypto account with a minimum deposit of $100, but it can only be funded with fiat currency.
The Fiat and Crypto accounts are ideal for intermediate and beginner traders or those who would like to take advantage of copy or social trading.
- Cent and Demo Allpips accounts
The Cent account offers 0% commission on deposits and trading and only requires a minimum deposit of $25. Both accounts are suitable for those new to trading, particularly if they wish to take advantage of social or copy trading.
AdroFx Commissions and Fees
AdroFx has put together an impressive grouping of liquidity providers from the upper crust of global banking institutions. When coupled with its ECN/STP operating profile, the firm can deliver tight fee spreads with zero commissions. Average spreads are the best for the Pro and Premium accounts, starting down in the 0.3 to 0.4 pip range.
Unless the trader fails to meet specific obligations there is very little in the way of other fees with this broker. Inactivity fees of $/?/£5 apply after six months of dormancy. Withdrawals are free unless they follow inactivity fees, a failure to fulfil bonus terms or fall below minimums for the payment intermediary. A 3% fee may be charged in that case.
AdroFx Platforms and Tools
The management team at AdroFx made a wise decision to offer the MetaTrader4 (MT4) platform products due to their popularity with forex traders. Still, it has supplemented this offering with its proprietary platform called Allpips. In all, there are six platform versions, as follows:
- Social Trading Allpips: AdroFx designed its Allpips platform to support social trading in three operating modes: manual, semi-automatic, and completely automatic, where the system does everything for the trader after they choose their expert. The AdroFx copy trading community numbers in the thousands.
- Web Platform Allpips: This internet cloud service dispenses with the need for necessary software downloads. Advanced tools are also supported, and all devices can easily access this direct web service.
- MT4 Desktop: MT4 is the most popular trading platform in forex trading and has maintained its track record of excellence for over two decades. It is standard issue for AdroFx. Over four-dozen technical indicators, graphic analysis tools, algorithmic and one-click trading, and support across the MT4 community comprise the AdroFx package.
- MT4 for iOS: For Apple device users, MT4-compatible mobile software can be easily downloaded from the Apple App Store to access AdroFx.
- MT4 for Android: It is possible to purchase MT4 software from the Google Play store and, after signing up for an AdroFx login, be up and running quickly. In both mobile iterations, the number of indicators may be confined to 30 of the best ones, but the trading experience is still MT4 quality.
- MT4 Multiterminal: MT4’s multiterminal application is designed for traders with multiple accounts who wish to manage those multiple accounts in a coordinated, seamless fashion.
AdroFx provides an array of educational videos and eBooks for beginners. Market experts at AdroFx have also designed a trading alert signal service to help guide customers’ efforts in locating trading opportunities. There is also an economic calendar and glossary, but the firm complements these items with a news blog.
AdroFx Mobile Trading App
AdroFx provides an app for mobile trading, available for iPhone and Android users, helping them trade on the go.
Pros and Cons
- Regular bonus offers and contests
- Leverage up to 1:500
- MT4 and Allpips platforms
- Over 115 trading instruments
- Limited range of markets
Should I trade with this broker?
Our AdroFx review noted that this firm is a new entrant in the CFD brokerage arena, though it sports a staff of 100+ employees and a management team with 60+ years of experience in the financial markets. Its product offering is focused, with tight spreads and no commissions. Higher leverage and promotions add to the fun, and if you are comfortable dealing with a broker with Tier-2 regulation, then AdroFx might be worth your consideration. For further queries, customer support is available via phone (+44 203 504 2223).
Can I trade cryptocurrencies with AdroFx?
Yes, AdroFx offers trading in crypto from all account classes except for its Micro account. At this time, trading is limited to CFDs for Bitcoin, Ethereum, Ripple and Litecoin. Depending on prevailing regulations in your resident jurisdictions, trading in crypto may be restricted.
Are my deposits and personal data safe with AdroFx?
Yes, deposits are segregated in separate banking accounts, and all personal and transaction data are encrypted using the latest encryption technology.
Does AdroFx offer a Demo account?
Yes, AdroFx offers a free Demo account for practice trading, designed to meet the demands of both beginner, intermediate and veteran traders.