FxGrow – what we know and have as facts about; FxGrow is a brand name of Growell Capital Limited, which was founded in 2008 and currently is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 214/13. In addition, FxGrow Limited is authorized and regulated by the VFSC under registration number 40308. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Order Execution Policy document that FxGrow executes client orders in CFDs as a principal to principal towards the client, i.e. the company is the sole Execution Venue for the execution of the client’s order. When the company executes client orders as a principal to principal, it is a market maker and assumes all accompanying risks. However, FxGrow may decide at its own discretion to place an order for execution to a third-party Execution Venue. This transmission of client orders or arrangement for their execution with third parties (liquidity providers) is known as a Straight Through Processing (STP) model for order fulfillment. Nevertheless, FxGrow may act as a market maker and this arises a conflict of interest. Market makers do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about creating multiple spam accounts to post false positive reviews, high deposit and withdrawal fees, extremely wide spreads and negative slippage.
So far, we have not received any complaints from customers of FxGrow. If you have any criticism to share with us or feel annoyed by FxGrow, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and FxGrow if you wish.