AdroFX Forex broker review — Everything you need to know

AdroFX is the company’s trade name, which is a Forex and CFDs broker offering trading services worldwide. Let’s analyze its services to define whether the broker is safe and reliable, by assessing its safety, accounts, spreads, leverage, support, and more.

AdroFX Overview of the website

The website of AdroFX is responsive and the broker offers all important details about its services on it. Traders can navigate through the interface really swiftly and find all important details such as support, accounts, platforms, spreads, and more. This is crucial, especially for new clients who want to find out about the broker’s services. Traders can easily compare accounts to see which one is best suited to their needs.

Overall, the website is offered in multiple languages and is user-friendly.

AdroFX Safety – Multiple regulator warnings detected!

Safety is a serious challenge for AdroFX as the broker lost its licenses. It was previously regulated by the Vanuatu Financial Services Commission (VFSC) and the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). To lose licenses and become unregulated is the major red flag and traders are advised to stay away from this broker or be extremely cautious when dealing with it. The broker was also the subject of several warnings by top-tier regulators such as the UK’s FCA and Spanish authorities for offering trading services in their jurisdictions without any regulatory licenses.

Since the broker is not regulated by any authority, we can not confirm it uses segregated accounts.

AdroFX offers Negative Balance Protection (NBP) across all its account types, meaning that traders are not liable for any losses beyond their initial investment. This is an important policy that prevents traders from going into minuses.

AdroFX Accounts Reviewed

AdroFX offers three account types such as Fiat, Crypto, and Cent Pro. The crypto account is very unique as traders can use popular cryptos such as BTC and ETH as account currencies to speculate on a wide range of markets. Let’s briefly review each of the accounts to define how competitive they are.

AdroFX Fiat Account

The Fiat trading account by AdroFX has fiat currencies as account base currencies and allows traders to deposit in multiple currencies like EUR, USD, and GBP. Here are the main conditions of the Fiat account:

• 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

This account is for general trading purposes and has no commissions, which is very competitive. If spreads are truly from 0.4 pips, then this account is super attractive and allows for low-cost trading. The minimum deposit is slightly higher than what industry top brokers offer.

AdroFX Crypto Account

The crypto account differentiates itself from others as it allows traders to deposit and use cryptos like BTC and ETH as account currency and open and close positions in cryptos on a wide range of markets (FX, commodities, indices, stocks, cryptos). Here are some of its main specs:

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

This account is almost identical to a Fiat account except traders have to use two major cryptos as their account base currency, which makes it somewhat attractive for crypto enthusiasts.

AdroFX Cent Pro Account

The Pro Cent account has the lowest minimum deposit requirement, starting at just 25 dollars. The account base currency is USD only and it offers the following conditions:

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

If this account truly offers 0.4 pips on major pairs, then it is one of the best cent accounts out there. The minimum lot size is also low at 0.001 lots, which aligns with microcontract conditions characterized by cent accounts.

Deposit and withdrawal options at AdroFX

The broker accepts several payment options, including bank wire, bank cards (Visa/MasterCard), cryptos, Skrill, Sticpay, and Payeer. Most payment options are processed within 1 hour for deposits except for wire transfers, which require 1-5 business days. Withdrawals, including wire transfers, require 24 hours for processing. The broker does not charge fees for deposits, but there are commissions for withdrawing funds. Bank fees are charged by the banks when employing wire transfers.

AdroFX Assets — What can you trade?

The broker allows access to a wide range of trading assets, such as FX, Spot Metals, Shares, Spot Indices, and Cryptos. The maximum leverage is 1:500, which allows traders to control serious trading power. With spreads as low as 0.4 pips, scalping strategies are flexible. However, the lack of proper safety is a serious downside that makes this broker hard to recommend.

Trading platforms of AdroFX

The broker offers access to the Allpips trading platform. The platform allows trading from PC, mobile, and tablets. The Allpips trading platform is a web-based solution developed by AdroFX, designed to provide traders with a user-friendly interface and a range of trading tools. It offers cross-platform accessibility but Allpips does not offer native support for EAs or custom indicator development.

Education at AdroFX

When it comes to education, AdroFX offers a limited set of resources. The broker provides only Forex glossary and News & Blogs. The news and blog section mainly offers posts that analyze current market news and can not be used as a learning tool.

There are many market analysis tools available such as FX calculator, VPS hosting, trading signals, weekly market analysis, and economic calendar.

AdroFX Customer Support

The AdroFX customer support is provided via several options including live chat, email, and phone support channels. The live chat plugin also offers call us and call back features and is directly built inside the website, making the whole process fast and efficient. Both the website and support options are available in multiple languages, which is flexible.

AdroFX bonuses and promotions

AdroFX broker offers many promotional events such as cashbacks, prizes, and several deposit bonus types. Bonuses include a traditional 20% deposit bonus and up to 100% margin bonus. From extra features, the broker also offers copy trading services, which can be very useful.

Is AdroFX your broker? Final verdict

AdroFX offers an appealing range of account types, a decent variety of trading assets, and competitive trading conditions like 0.4 pips spreads and 1:500 leverage. It supports negative balance protection and crypto-based accounts and payments as well. However, its major drawback is safety – AdroFX has lost all its regulatory licenses and has received warnings from several financial authorities. Its trading platform, Allpips platform lacks advanced functionality of MT4 and MT5, such as EA integration and custom indicators. The broker is therefore very risky and traders seeking regulated and trustworthy partners should exercise extreme caution or consider regulated alternatives.

FAQs on AdroFX broker

Where is AdroFX based?

AdroFX was previously linked to offshore jurisdictions like Vanuatu and St. Vincent and the Grenadines but currently does not disclose its location.

Can you withdraw from AdroFX?

We can not confirm that AdroFX is a reliable broker that allows profit withdrawals and traders should be careful when trading with unregulated brokers.