As you will find out in our FxPro Review, the company offers CFDs and spread betting on the Forex, futures, spot, share, spot, and spot metrics. They serve clients in over 150 countries around the world and offers multilingual 24/5 customer support.
FxPro stands out as one of the most recognizable names in the forex industry. Since their founding in 2006, they have executed over a quarter of a billion orders. Each second, they execute an average of 7000 orders.
As one of the most recognizable names, FxPro has partnered with companies like McLaren and sponsor Yacht Club de Monaco.
Today, FxPro is established as one of the most prominent best forex broker with clients from over 170 countries worldwide. They are one of the most well-regulated companies with a very high trust score.
Traders are offered access to six asset classes with Tier 1 capital, which exceeds 100 million euros. They've some of the fastest speeds in terms of execution. Keep in mind that approximately 77% of the traders on FxPro, lose money.
FxPro is a true NDD (no dealing desk) type of brokerage firm. The latest information shows that most of the trades are executed at the quoted price, with less than 13% experiencing positive slippage and about 12.5% experiencing negative slippage.
Over 98% of the trades are executed without a requite with less than 1% executed with a positive requote and barely 0.65% experiencing a negative requote.
Suffice to say that the trading experience when working with FxPro is satisfactory. They provide material for research and education if you need it.
In this FxPro review, we are going to focus on the main points we think you should look at before you decide whether you want to trade with them or not.
What We Like About FxPro
- Multiple regulatory authorities heavily regulate them
- They have several financial asset classes, offering you many options on what to trade
- The range of account types is wide, allowing customers to get exactly what they want at all times
- There is little or no commission charged on most of the trades
- They have segregated accounts to ensure that the company never uses the client money
What FxPro Could Improve
- They do not offer services to countries that are not in regulated jurisdictions.
FxPro is properly regulated in multiple jurisdictions by respected agencies. Here is a list of all the subsidiaries and the agencies that oversee them:
- FxPro UK Limited falls under the authority and regulation of the Financial Conduct Authority (FCA).
- FxPro Financial Services Ltd falls under the regulation and authority of the Cyprus Securities and Exchange Commission, CySEC.
- FxPro Financial Services Limited is regulated in South Africa by the Financial Sector Conduct Authority of South Africa.
- FxPro Global Markets Limited is regulated in the Bahamas by the Securities Commission of Bahamas.
Every one of these licenses is verifiable in the jurisdictions that we have indicated and can be confirmed by checking the numbers on each of these regulatory bodies' websites.
To make sure that the clients are always protected, these are the additional measures in place.
- Segregation of the client funds from FxPro company funds. They are held in Barclays Bank, Royal Bank of Scotland, and Julius Baer.
- They offer negative balance protection
- They have auditing of their financial reports done by PWC
- FxPro Limited in the UK is registered to the Financial Services Compensation Scheme (FSCS)
- FxPro Financial Services Limited is registered to the Investor Compensation Fund (ICF)
You should know that FxPro does not accept clients from the following countries: Canada, Iran, and the USA.
FxPro Bonus for Deposits & Promotions
Modern regulations state that brokers are not allowed to give any bonuses or promotions. If you find some promotion on the internet claiming to be from FxPro, it is probably a scam trying to take you for your money.
Always make sure that if any promotion or offer is available, it is coming from the broker and not from other parties that cannot be trusted or verified.
FxPro Trading Fees
Generally, you will not be charged the following fees:
- Withdrawal fees
- Inactivity fees
- Deposit fees
When trading on FxPro, you will not be charged commissions, unless you are on the cTrader platform. The FxPro minimum deposit is $100. The general fees are standard for the market, with details of each account showing exactly how much you would have to pay.
FxPro Withdrawal and Deposit Options
FxPro offers its clients several options to use when withdrawing or depositing money. If you want to deposit money into your account, you can use Neteller, Skrill, PayPal, Union Pay, credit cards, and debit cards.
They have a FxPro Wallet you can use to make your transactions much faster and even more reliable. The wallet is custom made just for FxPro and is used by clients to make sure that the fund transfers are fast and reliable in a way that they can understand.
Most of the deposits that they make are funded instantly within ten minutes. Withdrawals are processed within one working day. Most of the details are on the broker's homepage to ensure that you transact with ease and without glitches.
To get the details of this, you should check out the FxPro client portal area.
FxPro Account Opening
Opening an account on FxPro is relatively easy. The entire process is digital, allowing you to log in online and submit the credentials needed. You'll go through a process that requires proof of identity and proof of address.
It would help if you were prepared to offer both in the form of a national ID card, passport, or other legal identification documents. As for the address, you can upload a recent bank statement, utility bill, or any other official documentation as specified.
The thing you need to keep an eye on is that the documentation you send in for address proof contains the address. It has to be visible.
This is following the regulatory requirements that are now standard in the forex market.
After you get through the preliminary information, you will be required to set up your account settings by opening MT4, MT5, cTrader, or the FxPro account type.
After you are given access to the FxPro client portal area, you will open either the demo account or the FxPro live account and start trading immediately.
FxPro Account Types
The account types you will get when you are on FxPro are wide and varied to ensure that you have the choices you need. That way, you can choose something that is within the budget you would like. The pricing model is different, but you will find that there is something for everyone.
There are three trading accounts to choose from:
Live Trading AccountHere, you will have the following features:
- Six asset classes that have over 250 tradable instruments ts
- You can use MT4, MT5, cTrader, and FxPro Edge.
- The deposit to start you off is recommended at $1000
- Retail clients can use a leverage of up to 1:30
This account is the most basic version you will get when on FxPro.
- Professional Trading Account
Here you will get:
- Higher leverage that is adjustable to levels that you can tolerate in terms of risk management
- Negative balance protection is offered, so you do not lose more money than you deposit
- The investor protections are not as widely varied as in the Live Trading Account
The next account is the top one of them all.
- VIP Trading Account
The details you get for this are:
- This account is only used by NHW trading high volumes
- The access to VPS is not restricted at all
- The commission is lowered by 30% when trading on cTrader accounts
- There is a 30% discount on the market spreads
As all things go, this account is the one that would be best for most traders. However, with the details stating that the clients are only large volume, it is not very sustainable for those looking to trade smaller amounts.
FxPro Trading Platforms
FxPro offers its clients the best platforms in the world, with a variety that is seldom seen. Most brokers prefer to use just MetaTrader. Here, you will find FxPro cTrader and their very own proprietary FxPro Trading platform.
Let's examine the details of all of them.
MetaTrader 4 is the most widely used platform in trading forex. It is available for download on the FxPro website for Mac, Windows, and Web users. With it, you will have great features like:
- Access to chart types that aid in the analysis
- A view of at least nine timeframes for open markets around the world
- 50 indicators for technical analysis
- The use of custom indicators and Experts Advisors
There is a lot more if you know how to add plugins and extensions to your platform, but with the basic minimums provided, you can still trade comfortably.
The FxPro MetaTrader 5 platform is the same as MT4, except that it has several upgrades and other features that the older predecessor does not. With it, you will have access to the same things but with a wider scope.
Here are some of the best features of FxPro MT5:
- Instead of 9 timeframes, you get a whopping 25 timeframes.
- You can open up to 100 charts simultaneously.
- There is complete access to several and varied order types.
- You can view information about market depth.
You can do a lot more with the upgrades on MT5, but they may take a while to learn.
cTrader is well-known by traders who dabble in ECN-style trading. It offers you everything that the MetaTrader platforms have, with additions like:
- A full unrestricted view of market depth
- No restrictions on your chosen stop/limit levels
- The orders are filled in mere milliseconds.
When trading on their VPN account, this is the account you will most likely use.
Because it is the premier ECN forex trading platforms, cTrader will allow you to use highly customizable modules. The best part about the modules is that you can drag and drop them if you would like to. It is a great way to navigate the platform and do all your trading with ease.
FxPro Trading Platform
Not many traders offer proprietary platforms. However, FxPro does, and they make it available via the Web. With it, you will have features like:
- Over 50 indicators for use in technical analysis
- Charting tools
- Trading widgets that make it faster to switch from one function to the other
- Six types of charts
- A view of 15 timeframes, which is more than MT4
- A layout you can customize to fit your trading style or aesthetic.
To get more details about how it works, you can check out the demo on the website. It will allow you to look through and see what they offer and how they present it.
FxPro Mobile Trading Platforms
For traders who want to stay updated about their trades while on the go, mobile platforms are for you. There are provisions for both Android and iOS systems. You can get MetaTrader 4 & 5 on mobile, as well as cTrader. The FxPro Trading Platform is available too.
The app download links are all available on the FxPro client portal area. However, you can download them directly from the Apple AppStore or Google PlayStore, if you want to.
With the mobile apps, you will enjoy a faster sign-in process, view an integrated platform, and enjoy the interactive built-in economic calendar. You can also do all your trade account management straight from your phone.
Top FxPro Additional Features
Some of the best additional features on FxPro include the following:
- FxPro Edge
The broker allows people from the UK to do Spread Betting. The law there does not prohibit it. With the FxPro Edge platform, users can take full advantage of the spreads offered. The best part about this is that anything you earn from this is not taxable.
- The FxPro Direct App
FxPro is not shy about developing proprietary technology and tools to ensure that their clients are getting the best of everything. Among the tools developed by the broker, is the FxPro Direct App. You can use it to access your accounts, make changes to the accounts, and update the economic events and other important news.
- The Trader's Dashboard
With one simple glance, this intuitive dashboard will let you know how the markets are doing and if you can get in or not. It is a great way to stay updated without losing track of anything. Simplicity is what makes it work so well. You do not have to be shunted back and forth from one window to the next to get a clear view of what you need.
- The FxPro Wallet
To make transactions easier for their clients, FxPro created this wallet, which makes everything more efficient and easier. The wallet acts as a vault that keeps your funds safe and ensures that you can access them securely and rapidly. Transfers are just as fast as deposits when you are using the wallet.
From it, you can make withdrawals to your other accounts like the bank or credit cards, among the varying methods supported by the broker.
- Automated Trading
Trading can be hard if you have to pay attention to all the details at all times. That is why automated trading is such a great way to make sure that some of the tasks take place in the background, allowing you to do other things.
With modifications to the cTrader platform's code, you can create your custom expert advisors and deploy them to aid your trades.
FxPro Commissions and Spreads
As we mentioned before, FxPro is an STP/ECN broker. They have access to the interbank market, providing you with low spreads, access to more than 3,500 instruments that can all be used to trade. The FxPro spread, on average, is much lower. For example, the EUR/USD pair has an average spread of just 0.1 pips.
To access the live figures, access the website, and look at the spreads. A calculator will help you know how much you owe for the trades you make.
On FxPro, commissions are only charged when you are trading forex pairs and spot metals. Even then, it does not apply to any other platform except for cTrader.
The charges per $1 million trades, stands at $45 at the time of writing this. If you pick an account where the base currency is not in USD, it will be converted to the alternative currency you choose.
FxPro Education and Research
On the FxPro official website, you will see at the top, an option that says 'Tools' and under that 'Trading Tools.' That is where you will find the education section. FxPro education provides you with access to online courses for beginners and advanced traders.
On the beginners' section, the sections are divided into the following:
- The basics
- Fundamental analysis
- Technical analysis
In the Advanced traders' section, there is additional content that covers Fundamental Analysis 2.0. Within this, you will find several topics that cover aspects of fundamental analysis that go deeper into the details.
There is also the Trader's Blog, where you can stay up to date on the news and market movers. They usually stream in the information in real-time so that you can get actionable intel.
NOTE: You will find more videos on YouTube, explaining aspects of trading like trade habits and currency pairs.
The research portion of FxPro contains a wide range of tools like the news page where you will find analysis articles, the economic and earnings calendar, and access to Trading Central WebTV and FxPro Squawk.
In the news section, they cover categories like cryptocurrency, Elliot Wave, and other markets. When company earnings are released, you will get them immediately. The FxPro Squawk provides you with audio news and commentary.
FxPro Customer Service Experience
You can reach a customer service assistant 24 hours a day for five days a week. You can reach them through live chat on the website, telephone (the numbers are provided on the site), or email. The faster way to get a response is through the Live Chat function.
The staff knows the answers to questions asked and will help you get answers to all your questions.
The General Experience
From what we can tell, the broker provides traders with competitive asset classes that make choosing easy. With more than 250 financial CFD instruments that cover all the classes, you can use the most commission-free trades with spreads and swaps payable.
The offering of platforms is also wide and varied. You will choose between MT4, MT5, cTrader, and the FxPro proprietary trading platform.
All of the platforms are available for mobile, PC, and Web. Users are also getting tools like calculators, calendars, company earnings, and other research tools like Trading Central and Squawk by FxPro.
|Established: 2006||Website: https://www.fxpro.com|
|Address: London, 13/14 Basinghall Street, City of London, EC2V 5BQ||Regional Offices: London, UK. Karyatidon, Cyprus. Boulevard des Moulins, Monaco. Lyford Financial Center, Bahamas.|
|Mobile Trading: Available||Regulators: Financial Conduct Authority, Cyprus Securities and Exchange Commission, South African Financial Sector Conduct Authority, Dubai Financial Services Authority, and the Securities Commission of The Bahamas.|
|Minimum Trade Size: 0.01||Prohibited Countries: USA, Iran, and Canada.|
|Maximum Leverage: 1:1500||ECN: Available|
|Minimum to Open Live: $500||Currencies: 70+|
|Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader, Web-based and Others||Cryptocurrencies: Available|
|Robots: Available||CFD: Available|
|Scalping: Allowed||Web Trading: Available|
|Deposit Methods: Debit, credit, and prepaid cards (Visa, Mastercard), Bank wire transfer, Paypal, Ewallets, Skrill, Casuu, Fasapay, Neteller, Netbanx, Webmoney, Mpay (Chinese clients), Monetaru (Russian clients) and broker to broker transfer.||Withdrawal Methods: Debit, credit, and prepaid cards (Visa, Mastercard), Bank wire transfer, Paypal, Ewallets, Skrill, Casuu, Fasapay, Neteller, Netbanx, Webmoney, Mpay (Chinese clients), Monetaru (Russian clients) and broker to broker transfer.|
FxPro is a company best suited for forex and CFD traders who want to be given choices. Their range is wide, encompassing indices, futures, commodities, cryptos, and with this, they are head and shoulders above the brokers on the same level.
Traders who use scalping and other faster trading methods will find that they take a big bite out of the profits. If you deal in large volumes, you will find the fees fair, seeing as they offer you ECN/STP-style trading.
FxPro has won numerous awards in the industry, proving that they are a force to be reckoned with. Back in 2018, they were awarded 'Best Forex Provider' and 'Best Forex Service Provider. In 2017, they were awarded by Global Brands Magazine, the crown of 'The Most Trusted best forex broker.'
In addition to that, the Investor Chronicle and The Financial Times awarded FxPro 'Best Forex Trading Platform.'
They are a recognizable brand, always in the limelight, making it easy to check their reputation. Their association with Yacht Club de Monaco and McLaren's F1 Team is what makes them so well renowned around the world.
That is why our FxPro review concludes that they are worth checking out if you think they are suitable for your trading style.