A Review Of FxPro, A Forex Broker
From its name, people may think it is a program only for the pro users. But, when you start to use it, you will find that it is for all types of users starting from the beginners to the experts. The leverage ratio can be fixed 1:1 as a minimum and it can be increased up to a maximum of about 1:500.
FxPro is offering a demo account in order for the users to analyse whether FxPro is what the users are looking for or not. Established in 2007, FxPro has its headquarters located in London, UK. If you want to trade with FxPro, you need to open an account with at least $500 in your account. The least volume that you can deal with FxPro is 1 micro lot, but you can leverage 500 times the money you have deposited. FxPro is multi lingual with many languages like german, Chinese, Japanese, English, Spanish and so on. Cysec, Asis, Mifid and FSA have regulated FxPro for trading. Minimum deposit is $100.
FxPro approved and managed by the Financial Conduct Authority. The FCA is an autonomous body that is non-legislative yet has statutory forces by UK’s Financial Services as well as Markets Act of 2000. FxPro is likewise approved and managed by the Cyprus Securities as well as Exchange Commission as well as accomplished the “Speculators in People” Standard.
Platform Of FxPro
There are 8 different trading platforms that are associated with FxPro. Four platforms are being dedicated by FxPro for smart phones. So, if you have an iPhone or an android phone, you can install FxPro’s trading platform in your device and start trading. The web trader platform and the MT4 platform offered by FxPro can be selected by you and our review is based on these two platforms. If you are a beginner with respect to trade, then web trader will be the best platform for you. This is mainly because; this platform will not confuse beginners with more charts and trend graphs. Another important aspect of FxPro is that, you do not need a platform that is downloadable in nature but you can trade with any PC and you can also switch between different platforms with much ease.
Any coin has two sides and so do the web trader platform. The web trader platform is too much crowded and it is also intuitive in nature. The shapes that are present in web trader are partially covered and partially not. But, I the user want to resize the shapes, it is also possible. Also, if you want to use cTrader platform, you can switch to it very easily.
FxPro offers an ocean of features so as to assist its traders with which you can make your trading experience much fun. It is a known fact that images talk a lot than text. But they have moved one more level and talking through videos, which can make your job much easier. All these videos are available in their web site using which; you can understand all the basics of forex in a jiffy. The loading time of these videos are kept under their control in such a way that you can see the videos loading faster than all other web sites. While you can have a wide range of trade leveraging options in FxPro, you also have an option with which you can trade without spending even a penny as commission. FxPro puts a lot of efforts in providing competitive spreads to its users. Technical analysis, reviews from trading experts, news with respect to forex are few of the add ons that are being provided by FxPro. The good news is that, all these add ons are available in all the platforms and not just in their web site. Even though FxPro’s features are not unique to it, it is acceptable by most of the traders.
Fxpro video :
User Friendly Interface
Customer service is the key to success and FxPro has understood this to the core. The customer care executives of FxPro are professionals. But, they are also very patient in such a way that they will try to explain things to you even if you ask a very basic question in lay man terms. The user interface designed for registration process is awesome, as it takes you to the specific place if you forget to fill in some information. The frustrating part with FxPro is the account verification procedure as it is somewhat confusing in nature. FxPro allows you to transfer your currency from moneybookers, Paypal and neteller online accounts and using your credit card and net banking. Being a start up, it is really difficult to improve its trading amount to cross $589 billion and FxPro has done it very easily in the first tw quarters of 2011.
The account types
An extensive offering of record sorts starts in the event that you need to begin exchanging. There are an aggregate of five record sorts that offer diverse administrations:
Exchanging records – exchange namelessly with no obstruction from a managing work area
Sample accounts – the ideal approach to begin figuring out how to exchange effectively
VIP Facilities – the record for high total assets customers with boundless advantages
Customer – Service
It is a known fact that FxPro offers a customer service that is being considered as the best customer service among the forex trading consultants. The bases established by FxPro for the purpose of providing customer service to its customers is spread across 22 different countries and you can request a call from them for any support on a 24/5 basis. If you browse the contact us section of the web site of FxPro, you can get access to the contact details of all the departments which includes their e mail ids and contact phone numbers. This makes you to be very much sure that you are reaching the right person for the right concern. For the purpose of checking their customer service, we tried to contact them using the contact us form that is being provided by them in the contact us page. And to our surprise, they have responded with a prompt response within 20 minutes of our query reaching them. The chat feature that is present in their web site is also working great with a person always waiting to answer your queries. Even though we tried to confuse the customer care representative with a complex query, the query was transferred to the technical team and we have got the exact response to our query in no time. This is the fastest ever response that we have ever got from any customer care executive.
There are eight trading platforms at FxPro. It may seem overwhelming but it is in fact not. There are four mobile platforms created for various mobile phone systems. The chances are that you will be probably trading on a single mobile phone so it is not difficult to find the right mobile application. Apart from this review, a full review of the cTrader platform is also is provided by this broker.
When selecting a desktop trading platform, you are able to opt for the default MetaTrader 4 platform or the FxPro WebTrader. A combination of these both is also available. Both platforms were tested during FxPro review course, and the conclusion is that the WebTrader is fit for beginner traders, because it owns bigger buy and sell buttons and there is less concern on the charting tools.
The traders can easily exchange platforms and you can use any computer for trading not only the one that has the downloaded platform. The WebTrader platform was found to be a bit crowded and intuitive. Even though any information is available to digest at every trading platform, WebTrader provides frames that are partially overlaid and not exactly appropriate size for the details within. However, it is possible to resize the frames and get the information needed.
Fxpro made new special promotion.It is FxPro Quant Visual Strategy Builder and you can use to develop forex Expert Advisor:
Devices and Education
As quantified, FxPro’s office model takes into account zero irreconcilable situation in the middle of organization and customer. This implies that it’s meant to the organization’s advantage to instruct its merchants to turn into as well as can be expected be. In light of this, FxPro offers a scope of webinars, classes and expos to teach its customers. They are free, besides they happen routinely. Likewise, the organization offers its customers Trading Central – premium specialized investigation helps – and a scope of instruments including a monetary date-book, adding machines and versatile apparatuses.
FxPro provides many features that are intended for simplification of the trading experience. We find their extensive video library engaging as it provides short and perceptive videos about general topics, aimed to improve the trading performance. The videos are loaded in no time. The videos are about general trading methods and techniques, not only about how to deal with the trading platform.
During the FxPro review, spreads of the company are listed clearly and what we appreciate is the company’s effort to provide competitive spreads. MT4 traders are able to enjoy trading EURUSD from 0.6 pips spread with the leverage up to 1:500 and fee-free trading. cTraders have the ability to enjoy comparable spreads with up to 1:500 leverage. MT4 traders can benefit from the use of expert advisors and fractional prices.
FxPro also provides regular trading tools like Forex news and technical analysis. The majority of these are within each platform and not on the website of FxPro. Finally, it provides classic calculators like margin calculator, pip calculator, and currency converter.
At the end, FxPro’s characteristics are not especially rare and unusual. However, they were displayed in a professional and useful manner that can be helpful to any kind of traders sufficiently.
I like trading platform, live chat and excellent support, easy way for deposit and money withdrawal.
Based on my last research (section about top forex brokers on ranking list) Fxpro is the best forex broker based on visitors poll. Last several years, this forex broker is example of trust, excellent communication, great tools and tight spreads.