FxPro Review

Review sections

• Investor Protection & Regulations
• Tradable Products
• Account Opening
• Deposit & Withdrawals options
• Web & Desktop Trading Platforms
• Mobile Trading Platforms
• Trading Features
• Commissions & Spreads
• Bonus & Promotions
• Customer Support
• Research
• Trader Education
• Trading Experience
• FAQ
• Conclusion

FxPro Video Review

Investor Protection & Regulations

“FxPro is a globally regulated broker and through different subsidiaries is authorised and regulated by the FCA, CySEC, FSCA and SCB, offering investor protection through segregated accounts and a negative balance protection policy.”

FxPro is a globally regulated broker and through different subsidiaries is authorised and regulated by the following:

• FxPro UK Limited authorised and regulated by the UK Financial Conduct Authority (FCA).
• FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
• FxPro Financial Services Limited is authorised and regulated by the Financial Sector Conduct Authority of South Africa (FSCA).
• FxPro Global Markets Limited is authorised and regulated by the Securities Commission of Bahamas (SCB).

All of these regulations and licences can be found on each of the regulator’s registers, as shown below on the CySEC register:

The broker offers further protection to clients, as detailed below:

• Segregating client funds from company funds, held in banks such as Barclays Bank, Julius Baer and Royal Bank of Scotland.
• Offering a negative balance protection policy.
• Having financial reports audited by PWC.
• FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS).
• FxPro Financial Services Limited is a member of the Investor Compensation Fund (ICF).

FxPro does not accept clients from the USA, Iran and Canada.

Tradable Products

“FxPro offers users the ability to trade on more than 430 financial CFD instruments covering Forex, Futures, Indices, Metals, Energies and Shares.”

FxPro offers users the ability to trade on more than 430 financial CFD instruments covering Forex, Futures, Indices, Metals, Energies, Shares from the US, UK, France and Germany. The broker also has a range of Cryptocurrencies (not available for the retail clients of FxPro UK Ltd).

Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the FxPro website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened are covered further down this review.

Account Opening

“FxPro offers three core trading accounts called the Live Trading Account, Professional Trading Account and VIP Trading Account, tailored to different types of traders. They also offer demo trading accounts.”

FxPro offers three core trading accounts tailored to all types of traders. Each account comes with different features and benefits, as highlighted below. Retail clients could be requalified to the Professional clients if they meet certain criteria and pass the test for the financial market’s knowledge.

Live Trading Account

• Access 6 asset classes and 430+ instruments
• Trading platforms: MT4, MT5, cTrader, FxPro Edge
• Recommended deposit $1,000
• Maximum leverage 30:1, 200:1 under SCB regulations (retail clients)

Professional Trading Account

• Access higher leverage
• Negative balance protection
• Fewer investor protections
• Maximum leverage 500:1

VIP Trading Account

• Exclusive to HNW trading large volumes
• 30% discount on market spreads
• 30% lower commission on cTrader accounts
• Access to VPS with no restrictions

To open an account, users simply need to click Register on the broker’s homepage and begin a four-step process which includes registration, uploading documents for verification, funding the account and then trading. Upon registration users will be redirected to the FxPro client portal area, called FxPro Direct, to complete the application which asks for personal details, residential address, employment information, financial information, trading experience and a knowledge test.

Users are then able to set their Trading Account Settings by opening an MT4, MT5, cTrader and FxPro account type. Verification can be done in just two steps where users will have to verify their identity and address. These documents can be uploaded directly from the client portal area. The account opening process is quick and simple. Some of these processes may differ based on which jurisdiction an account is opened.

From the client portal area users can manage their trading accounts, open demo trading accounts, deposit and withdraw funds from the FxPro Wallet and access different trading tools and resources, as shown below:

Deposit & Withdrawals options

“FxPro offers a variety of different commission-free deposit and withdrawal methods that differ based on which jurisdiction an account is opened. Funds can be deposited into a FxPro Wallet using bank transfer, credit/debit card, PayPal, Skrill, Neteller and UnionPay.”

FxPro offers a variety of different commission-free deposit and withdrawal methods that differ based on which jurisdiction an account is opened. Funds can be deposited into a FxPro Wallet using bank transfer, credit/debit card, PayPal, Skrill, Neteller and UnionPay.

The FxPro Wallet allows users to transfer funds fast and easily, as well as manage multiple trading accounts in multiple currencies. The deposit and withdrawal methods – while commission-free – vary depending on which jurisdiction an account is opened.

• FxPro UK – Bank transfer, credit/debit card
• FxPro Cyprus – Bank transfer, credit/debit card, PayPal, Skrill, Neteller, UnionPay
• FxPro Bahamas – Bank transfer, credit/debit card, Skrill, Neteller, UnionPay

Most deposit options have instant funding within ten minutes. Withdrawals are processed within one working day. More details can be found on the broker’s webpage and transactions can be done in the FxPro client portal area.

Web & Desktop Trading Platforms

“FxPro offers an impressive range of trading platforms which include MetaTrader 4, MetaTrader 5, cTrader and its own FxPro Trading Platform.”

FxPro offers an impressive range of trading platforms which include MetaTrader 4, MetaTrader 5, cTrader and its own FxPro Trading Platform.

FxPro MetaTrader 4

The FxPro MetaTrader 4 trading platform is available for Windows and Mac desktop and via Web.

• Access 3 chart types
• View 9 timeframes
• Access 50 technical indicators
• Use custom indicators and trading robots (EAs).

FxPro MetaTrader 5

The FxPro MetaTrader 5 trading platform is available for Windows and Mac desktop and via Web.

• Access 21 timeframes
• Open 100 charts at any given time
• Access multiple order types
• View market depth information

FxPro cTrader

The FxPro cTrader platform is available for Windows desktop download and via Web.

• Full market depth
• No restrictions on stop/limit levels
• Order filled in milliseconds

The broker also offers its own brand-new FxPro Trading Platform via Web browser.

FxPro Trading Platform

The FxPro Trading Platform is available via Web.

• 50+ technical indicators and charting tools
• Trading widgets available
• 6 chart types
• 15 timeframes
• Customisable layouts

The FxPro Trading Platform is covered in more detail in the video review. A screenshot of the platform is shown below:

Mobile Trading Platforms

“FxPro offers users the ability to access mobile trading on the go for Android and iOS systems from the MetaTrader 4, MetaTrader 5 and cTrader mobile apps as well as the mobile version of the FxPro Trading Platform.”

FxPro offers users the ability to access mobile trading on the go for Android and iOS systems from the MetaTrader 4, MetaTrader 5 and cTrader mobile apps as well as the mobile version of the FxPro Trading Platform. The app download links can be found on the broker’s website, the client portal area or in the Google PlayStore or Apple AppStore.

The FxPro Trading Platform for mobile offers the following features:

• Fast sign up process
• Integrated trading platform
• Inbuilt, interactive economic calendar
• Trade account management from the app

The FxPro Trading Platform for mobile is covered in more detail in the video review.

Trading Features

“FxPro offers additional trading features in the form of trading calculators, a VPS service and the features already available in the MetaTrader and cTrader trading platforms.”

FxPro offers additional trading features in the form of trading calculators, a VPS service and the features already available in the MetaTrader and cTrader trading platforms. The FxPro all-in-one FX calculator can be found on the broker’s website, as shown below:

Commissions & Spreads

“FxPro offers commission-free trading on its MT4, MT5 and FxPro Trading Platform with spreads and swaps payable. cTrader users are charged commissions of $45 per $1 million traded.”

FxPro offers commission-free trading on its MT4, MT5 and FxPro Trading Platforms with just spreads and swaps payable and with a mark-up on spreads for Forex and Metals. cTrader users are charged $45 per $1 million traded when opening and closing a position on FX pairs and Spot Metals.

Fortunately, the broker does provide bid and offer prices on each of the markets available to trade with, as the example of Forex shown below:

The spreads on the cTrader platform are provided with no markup and are generally much lower but with commissions payable. Swap/rollover charges are applied if a trade is kept open overnight and can be calculated using the broker’s swap calculator in its Trading Tools section.

Bonus & Promotions

“In accordance with regulatory restrictions, FxPro does not offer any bonuses or promotions.’’

In accordance with regulatory restrictions, FxPro does not offer any bonuses or promotions.

Customer Support

“FxPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including Arabic, Chinese, Czech, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Malaysian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Thai, Turkish, Vietnamese and others. They also offer a FxPro Help Centre with FAQs.”

FxPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including Arabic, Chinese, Czech, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Malaysian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Thai, Turkish, Vietnamese and others.

They also offer a FxPro Help Centre with FAQs covering Safety, About the Company, Accounts, Verification, MT4 & MT5 Platform, cTrader Platform, FxPro Direct, FxProApp, VPS, Deposit/Withdrawals and other categories.

After logging into the Live Chat function we were greeted by an agent with five seconds who answered our question quickly, as shown below:

Contact Information:

• Address: Headquarters: 13-14 Basinghall Str, City of London, EC2V 5BQ, UK
• Email: support@fxpro.com
• Phone: +44 (0) 203 151 5550
• Social Media:
  • http://www.facebook.com/FxProGlobal
  • https://twitter.com/fxproglobal
  • LinkedIn
  • YouTube

Research

“FxPro provides a wide range of research tools and resources which include FxPro.News filled with news and analysis articles, as well as an economic and earnings calendar and access to Trading Central WebTV and FxPro Squawk.’’

FxPro provides a wide range of research tools and resources which include FxPro.News filled with news and analysis articles, as well as an economic and earnings calendar. The news section covers analysis in the following categories: Markets, Crypto and Elliott Wave.

The broker also provides access to an economic and earnings calendar to stay up to date with economic announcements and company earnings. Users can also access FxPro Squawk which provides breaking Forex audio news and commentary.

Users can also access services from Trading Central which includes technical trading ideas and a WebTV channel

Trader Education

“FxPro provides access to free Forex trading online courses for beginners and advanced traders.’’

FxPro provides access to free Forex trading online courses for beginners and advanced traders covering the following topics: Basics, Fundamental Analysis, Technical Analysis and Psychology. These are in the form of very short articles, as shown below:

Trading Experience

“FxPro provides a very competitive trading offering for both beginner and advanced traders with a good range of markets and an impressive range of trading platforms.”

From our observations, FxPro provides a competitive trading offering suitable to both beginner and advanced traders. Users can trade on more than 430 financial CFD instruments covering 6 asset classes and crypto on a mostly commission-free basis (dependent on the trading platform used), with just spreads and swaps payable.

The broker offers users the ability to trade on MetaTrader 4, MetaTrader 5, cTrader and its own FxPro Trading Platform, covering desktop applications, web and mobile. Users are also provided with a range of different trading tools such as calculators, economic and earnings calendars and other research tools like FxPro Squawk and Trading Central tools.

FAQ

Is FxPro regulated?

Yes, by the FCA, CySEC, FSCA and SCB.

Where is FxPro based?

FxPro’s headquarters is based at 13-14 Basinghall Str, City of London, EC2V 5BQ, UK.

How does FxPro make money?

FxPro makes money mainly through spreads, swaps and commissions on certain trading accounts and asset classes.

How do I deposit in FxPro account?

Funds can be deposited into a trading account via credit and debit cards, bank wire transfer, Neteller, Skrill, Paypal and UnionPay depending on geographical location.

What is the min. deposit for FxPro?

The minimum deposit is $100.

How do I withdraw money from FxPro?

Withdrawals can be made from FxPro via credit and debit cards, bank wire transfer, Neteller, Skrill, Paypal and UnionPay depending on geographical location.

What is the max leverage in FxPro?

The maximum leverage offered by FxPro is 30:1 for retail traders, 200:1 for SCB regulated countries and for PRO clients is 500:1.

How do I open an account with FxPro?

An account can be opened at the click of a button on the FxPro website and can be done in just a few steps.

Does FxPro use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

Conclusion

“FxPro is a globally regulated Forex, CFD and Spread Betting broker offering to trade on more than 430 financial instruments covering Forex, Futures, Indices, Shares, Metals Energies and Cryptos on the MetaTrader 4, MetaTrader 5 and cTrader platforms as well as its own proprietary, feature-rich FxPro Trading Platform.”

FxPro is an award-winning broker with 85+ global awards and the official partner of the McLaren F1 Team with different subsidiaries regulated by the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority of South Africa (FSCA) and the Securities Commission of the Bahamas (SCB).

The broker offers the ability to trade on more than 430 CFD financial instruments covering Forex, Futures, Indices, Shares, Metals, Energies and Cryptos* with clients benefitting from the broker’s no-dealing desk, ultra-fast execution pricing model with most orders executed in under 14ms with transparent details on slippage and execution stats provided online. The broker also offers Spread Betting accounts.

Users can trade from a variety of different trading platforms which include MetaTrader 4, MetaTrader 5, cTrader and the broker’s own FxPro Trading Platform for mobile and web. This all-in-one, integrated platform offers 50+ technical indicators, a customisable layout and other advanced trading features.

FxPro also offers a wide range of trading tools, research and education. This includes FxPro Calculators, the FxPro Direct App, FxPro VPS, FxPro Market News, an economic and earnings calendar, YouTube webinars and technical analysis and trading signals by Trading Central. The broker also offers customer support via Email, Call-back and Live Chat 24 hours a day, 5 days a week.

• Globally regulated broker.
• Commission-free trading available.
• No dealing desk execution.
• Wide range of trading platforms offered.

*Cryptocurrencies are not available for the retail clients of FxPro UK Ltd.