Overview of Grow Pro
Grow Pro, founded in 2024 and based in Montenegro, is a forex and CFD broker offering cryptocurrencies, forex, commodities, stocks, and stock indices. It also offers three account types, Standard, ECN, Swap Free, through MT5 platform. It operates without regulatory oversight, with high leverage up to 1:400 and competitive spreads. The broker provides educational resources like market news to aid traders.
Pros and Cons
Grow Pro offers access to over 70 cryptocurrencies, along with major, cross and exotic forex pairs. With competitive spreads and leverage up to 1:400, Grow Pro provides favorable trading conditions. Additionally, the utilization of the popular MT5 trading platform enhances the trading experience with advanced features and tools.
However, Grow Pro lacks regulation. Additionally, the broker does not offer popular instruments like bonds, limiting the options for traders. The high minimum deposit requirement for the ECN account ($5000) can be a barrier for some traders. Furthermore, the transparency of deposit and withdrawal fees is inadequate, and the lack of phone support could inconvenience those seeking immediate assistance.
Is Grow Pro legit？
Grow Pro is an unregulated broker. This lack of regulatory oversight means that Grow Pro does not conform to the rigorous standards of financial stability, security, and fair trading practices.
Market Instruments
Cryptocurrencies: Over 70 cryptocurrencies including ADAUSD, BTCUSD, EOSUSD, ETHUSD, LINKUSD, LTCUSD, XLMUSD, and XRPUSD. Features include low spreads, an average execution speed of 0.20s, and leverage up to 1:400.
Forex: Includes major, cross, and exotic pairs such as AUDUSD, EURGBP, EURJPY, EURUSD, GBPAUD, GBPJPY, GBPUSD, USDCAD, USDCHF, and USDJPY. Offers low spreads, deep liquidity, and leverage up to 1:400.
Commodities: Access to 8 major commodities including CORN, COFFEE, COTTON, COCOA, SOYBEAN, PLATINUM, and PALLADIUM with low spreads and leverage up to 1:400.
Stocks: CFD trading on stocks from companies like Apple, Amazon, Goldman Sachs, Nike, and McDonalds, with low spreads and leverage up to 1:400.
Stock Indices: Trade on 14+ indices including DAX40, BRENT, WTI, NATGAS, NQ100, DOW30, and SP500, with low spreads, an average execution speed of 0.20s and leverage up to 1:400.
Account Types
Grow Pro offers three main trading accounts: Standard, ECN, and Swap-Free accounts.
Standard Account: Ideal for new traders, with a $100 minimum deposit, 1:200 leverage, and spreads from 1 pip.
ECN Account: For traders seeking raw spreads and instant execution, requiring a $5000 deposit, 1:400 leverage, and spreads from 0.0 pips.
Swap-Free Account: Tailored for Islamic traders, offering no swap or rollover interest on overnight positions.
Grow Pro also provides a demo account for risk-free practice.
How to Open an Account with Grow Pro
Visit the Grow Pro Website: Navigate to the Grow Pro official website and click on “Open Account” or “Open Real Account.”
2. Create an Account: Complete the registration form with your personal details, including full name, email, phone number, and country. Create a username and password.
3. Upload Documents: Submit the required documents for identity and address verification, such as a government-issued ID and a recent utility bill or bank statement.
4. Fund Your Account: Select a payment method and deposit the minimum required amount for your chosen account type.
5. Start Trading: After your account is verified and funded, log into the MetaTrader 5 platform and begin trading. New traders are advised to start with a demo account to get acquainted with the platform.
Leverage
Grow Pro provides maximum trading leverage up to 1:400, with following leverage details:'
Standard Account: Up to 1:200.
ECN Account: Up to 1:400.
Cryptocurrencies, Forex, Commodities, Stocks, and Stock Indices: Up to 1:400.
As an unregulated broker, Grow Pro's offering of high leverage is likely intended to attract more novice traders.
Spreads & Commissions
Standard Account:
Spreads: Begin at 1 pip
ECN Account:
Spreads: Start from 0.0 pips
Other Fees
Grow Pro charges overnight interest fees, or swap rates, for positions held overnight. The rates vary based on the currency pair and the trade direction, with details available on the MT4 trading platform.
Islamic traders benefit from the Swap-Free Account, which removes overnight interest fees in line with Islamic finance rules.
Trading Platform
Grow Pro utilizes the MetaTrader 5 (MT5) platform, with its intuitive interface, extensive analytical tools, and multi-language support. MT5 supports a wide range of CFDs and features one-click trading, customizable alerts, and robust security measures. Compatible with Android and iOS devices, it also minimizes slippage and supports automated trading with expert advisors.
Deposit & Withdrawal
Grow Pro offers multiple deposit and withdrawal options, including Skrill, Visa, Mastercard, Bank Transfer, Neteller, Sticpay, Fasapay, and WebMoney.
Customer Support
Address: Bulevar Ivana Crnojevića 59-81000/ Podgorica
Email: info@growprofx.com
A contact form and online live chat are available.
Educational Resources
Grow Pro offers regular updates on significant market events and developments through its Market News section.
Conclusion
Grow Pro, established in 2024 in Montenegro, provides cryptocurrencies, forex, commodities, stocks, and stock indices. It boasts competitive spreads, leverage up to 1:400, and the MetaTrader 5 platform. However, its lack of regulation, the high minimum deposit for ECN accounts, along with insufficient transparency regarding deposit and withdrawal fees, are notable disadvantages. Additionally, the absence of bond trading and phone support further limits its appeal.
FAQs
Is Grow Pro a regulated broker？
No, Grow Pro operates without regulatory oversight.
What account types are available at Grow Pro？
Grow Pro offers Standard, ECN, and Swap-Free accounts.
What is the minimum deposit for Grow Pro accounts？
A: The minimum deposit is $100 for Standard accounts and $5000 for ECN accounts.
Which trading platform does Grow Pro utilize？
Grow Pro uses the MetaTrader 5 (MT5) platform.
What payment methods are supported for deposits and withdrawals at Grow Pro？
A: Supported methods include Skrill, Visa, Mastercard, Bank Transfer, Neteller, Sticpay, Fasapay, and WebMoney.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.
