AdroFX broker has had multiple official registrations since 2018 when they first started. Firstly, this trading company is used by Adro Markets Ltd registered in St. Lucia. Secondly, by Adro M Group LLC in St. Vincent and Grenadines. Lastly and most importantly ADROMKT is registered in Vanuatu. Three offshore entities are not a good sign.
To find out are your funds safe with this broker and if should you trust offshore brokers, read this AdroFX review.
In addition, we recommend reading our reviews about brokers Seven Capitals, SmartFX, and Xpro Markets.
| Broker status: | Regulated Broker |
| Regulated by: | VFSC |
| Websites: | Adrofx.com |
| Regulators’ Complaints: | FCA |
| Owned by: | Adro Markets Ltd, Adro M Group LLC, ADROMKT |
| Headquarters Country: | St Lucia, St. Vincent and Grenadines, Vanuatu |
| Foundation year: | 2018 |
| Supported Platforms: | MT4, Allpips |
| Minimum Deposit: | $25 |
| Cryptocurrencies: | Yes – BTC, ADA, XRP |
| Types of Assets: | Forex, Commodities, Indices, Shares, Cryptocurrencies |
| Maximum Leverage: | Up to 1:500 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
| Site Grid: | N/A |
Is AdroFX a Legitimate Brokerage Firm?
To build up trust brokers think that offshore licenses might help them. That’s why they obtained a license issued by VFSC (Vanuatu). This is considered quite a loose license because the only requirement for it is $2.000.
For instance, FCA in the UK provides a compensation fund of up to 85.000 GBP per trader. Another example is ASIC, where a broker is required to have segregated funds account.
As expected, this broker doesn’t provide guaranteed stop-loss. Not to mention negative balance protection. Above all, that would be required by Tier 1 regulators like FCA, BaFin, or ASIC. But checking their register didn’t bring us any luck. AdroFX trading company doesn’t have any of those licenses.
AdroFX broker is an offshore entity. They have loose regulations issued by VFSC in Vanuatu. But they have a warning from FCA, one of the most trusted regulators. After all, negative reviews sum it all up.
Warnings From Financial Regulators
Not only that this broker doesn’t have any Tier 1 licenses, but also they got a warning from the regulator. To be precise, we are talking about FCA. In December 2022, they issued an official statement about providing services to UK clients without authorization. Important to realize is that to trade with UK clients, a broker needs to have an FCA license or TPR with FCA.
What Traders Are Saying About AdroFX
Even though they have an average rating of 4.1 on Trustpilot, that doesn’t mean anything. When you take a look at 1-star rated comments, you realize what is the real truth. Out of 119 comments, almost 10% of those are with the lowest rating. If you take a closer look, you see that all are saying the same thing. Which is that traders can expect potential issues with withdrawals.
Available AdroFX Broker Trading Software
AdroFX trading company offers two different trading options. Clients can choose from AllPips and Meta Trader 4. While one is an industry-standard app, the other is not so trusted by traders. The benefits of using Meta Trader are numerous.
Allpips Platform
AllPips platform is a social trading platform. Even though social trading is quite popular these days, you should do it through a trusted platform. Social trading allows traders to copy other successful traders. With some companies, the case was that those other traders were all fictive. Therefore, be very careful with choosing your social trading platform.
MetaTrader 4
Instead of relying on other people’s opinions, you can do it yourself. With Meta Trader 4 you can enjoy trading. Primarily due to the very user-friendly platform, intuitive, and with a lot of options. Moreover, you will have advanced features available. Such are advanced charting options, indicators, multiview, and even automated trading.
MetaTrader 4 For IOS and Android
The biggest advantage of Meta Trader is its availability for mobile devices. It is a highly efficient and stable trading platform. After all, allows you to trade anywhere anytime. And it’s available for any Android and iOS device.
AdroFX ‘s Trading Assets and Instruments
On the positive side, AdroFX broker provides a quite solid range of instruments. But if we consider negative AdroFX reviews, that won’t matter much. Those instruments are divided into 5 classes. Those are:
- Forex – EUR/SEK, AUD/SGD
- Commodities – silver, palladium
- Indices – UK100, AU200
- Shares – Coca-Cola, Amazon,
- Cryptocurrencies – BTC, LTC
What Are The Different AdroFX Account Types?
AdroFX broker has 7 different account types. They are primarily divided into MT4 accounts and AllPips accounts. The difference between accounts mainly comes from form spreads. Which are not quite competitive on lower levels. Those accounts are:
- Micro (MT4) – $25
- Standard – $100
- Premium – $2.000
- Pro – $10.000
- FIAT (AllPips) – $100
- Crypto – $100
- Cent – $25
Besides all these account types, Islamic believers can choose an Islamic account with a swap-free option. Those options are available with Standard, Premium, and Pro accounts.
Can a Trader Use a Demo Account?
For traders that don’t want to jump into it, AdroFX enabled a demo account. That way traders can check the platform and see if that will suit them. Have in mind that some traders claim to experience withdrawal issues. After all, this is an offshore broker with loose regulations.
AdroFX Partnership
Another feature that comes with AdroFX brokers is their partnership offer. Once you start bringing more traders to the broker you get rewarded. That’s all quite good if the broker is reliable. And of course, if you can see those rewards. However, this broker rewards you through bonuses on a trading account. But those are banned almost everywhere. Don’t fall for those cheap tricks!
Terms and Conditions for AdroFX – What You Should Know
Broker claims to have funding methods without fees. Moreover, they accept even crypto payments without any fees. So the only fee is from the provider like a bank or a crypto exchange. On the contrary, when you want to withdraw the profits, you have to pay additional fees. Which is quite unfair to traders. Especially when you know that you can get better conditions with a Tier 1 regulated broker.
Leverage, Spreads, and Fees
Leverage up to 1:500 is violating all rules and regulations. This high leverage can easily wipe your account off. Not to mention costly spreads that start from 3 pips. As for the fees, they don’t have a swap-free option for regular traders.
What Should I Do If I Have AdroFX Problem?
The first thing to do is to let us hear your story. We can help other traders not to get into the same position. However, if solving the problem with their regulator didn’t help, you have a chargeback as a solution.
Our fund recovery team can assist you every step of the way. Get in touch today and book your free consultation!
FAQ
What Is AdroFX?
AdroFX is an offshore broker that operated since 2018. At the moment their website is not accessible.
Is AdroFX a Regulated Broker?
Even though it’s a loose regulation coming from Vanuatu, they have it. However, traders don’t have some outstanding protection there.
Is AdroFX Available in the United States or the UK?
As can be seen, they got a warning for trading with UK clients. As per the broker statement, they don’t offer services to US clients.
Does AdroFX Offer a Demo Account?
Surprisingly, yes. Besides live and micro accounts, traders can choose first to trade with virtual funds.