Forex brokers constantly look for the new solutions that would entice the potential investors to become their clients. FxGrow has presented its new account type which was designed for those clients who trade large volumes.
30 August, FXGrow – Forex market is a very competitive for brokers. There are many brokers in relatively small retail FX industry. Thus, Forex brokers often take different steps to gain market advantage. These steps cover bonuses, kick-back schemes, trade competitions and various account types. Cyprus based FXGrow meanwhile is trying to get an edge via their ECN accounts. The broker has announced that it is launching a new feature for investors called ECN VIP Account.
FxGrow account types: what is ECN VIP?
FxGrow is an international online brokerage firm. The brand name operates under Growell Capital company (see the full profile of FXGrow on The Most Detailed Forex Broker Directory of the World). The broker is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and registered as a Cyprus Investment Firm (CIF). According to the website of FxGrow, the firm conducts its business operations in full compliance of the EU Markets in Financial Instruments Directive (MiFID).
Today the firm announced its latest addition - ECN VIP Account. The account is designed specifically for those traders who trade large volumes and look for more sophisticated account features. The holder of ECN VIP account can benefit from several extra possibilities which other accounts do not have. This includes $8 commission, raw ECN spreads, starting from 0.00001, leverage up to 1:300, free MT4 VPS hosting, Free Trading Signals, access to Research Platform and a dedicated Personal Account Manager.
No conflict of interest?
According to the announcement of FxGrow, along with other FxGrow account types offered including ECN and ECN Plus, the new ECN VIP account is a true ECN account with Straight-Through-Processing (STP) execution of 100% orders. As the broker stated, there is no dealing desk involved, moreover, the firm states that there is no any conflict of interest between the trader and the broker. ECN VIP operates with all trading strategies including scalping, hedging or news trading.
See also: FxGrow SignalTrader Partnership Empowering Traders
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