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Forex broker FxGrow said on Wednesday it has launched a new type of trading account, ECN VIP, with a minimum deposit requirement of $10,000, or ten times higher than what the broker previously required. With the move, the broker aims to attract more elite clients who trade large volumes.
The new account can be opened in either US dollars (USD) or Euro (EUR). It has many benefits for large active traders, including raw spreads starting from 0,00001 pips, a Personal Account Manager, and free virtual private server (VPS) hosting for MetaTrader 4 (MT4). The account offers a leverage of up to 300:1, which is a standard for ECN accounts with such a high minimum deposit, as well as commission of $8 per round-turn lot, which is much lower compared to the ECN Plus account that the broker offers. Otherwise the rest of the conditions are similar to those of the other trading accounts FxGrow’s clients can choose from.
FxGrow’s account offering consists entirely from electronic communication network, or ECN, accounts with full Straight- Through Process (STP) execution. They provide access to liquidity providers with an instant execution with no dealing desk involved. In addition to the new trading account, FxGrow clients can chose from two other accounts. Following are more details about their trading conditions:
FxGrow is a trading brand of Growell Capital, a company regulated by the website of the Cyprus Securities and Exchange Commission (CySEC). It is also registered in a number of other EU member states, including the UK, Germany, Poland, Sweden, and Spain. The broker offers trading in currencies and contracts for difference (CFDs).