Fxpro Review
What is Fxpro? FxPro is the leading online CFDs broker and forex trading platform which was launched in the year 2006 and has its headquarters in the UK. The company is owned by the FxPro group and manages and operates the company through various subsidiaries around the world. FxPro is a company that specializes in offering online services of trading twenty-four hours a day and five days a week to financial markets. A trader can trade with over 250 financial instruments across up to seven varieties of asset classes. FxPro is a company with full service and has a management of six members They have an excellent customer support service with connections and telephones to more than twenty locations. This makes it easier for the traders that are associated with FxPro.
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 beginners to 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. You can read more about fxpro leverage policy in the Fxpro website section.
FxPro is offering a demo account in order for the users to analyze 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 multilingual with many languages like German, Chinese, Japanese, English, Spanish and so on. Cysec, Asis, Mifid, and FSA have regulated FxPro for trading. The 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 the 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.
Fxpro Regulation
Is Fxpro legit? Yes, Fxpro is a legit broker and the company is regulated by different authorities in different jurisdictions.Is Fxpro regulated? Of course. For instance in the United Kingdom, the platform is regulated by FCA (Financial Conduct Authority) of the UK and managed through FxPro UK Limited. For the European operations, FxPro is managed by an investment firm called FxPro Financial Limited and regulated by the Exchange Commission and Cyprus Securities. In South Africa, the company is regulated and permitted to operate by FSB (South Africa Financial Services Board). In the Middle East, the company has an operation under a subsidiary by the name FxPro Global Markets Limited. It is located in Dubai and regulated by the Financial Authority of Dubai. Globally, FxPro is regulated by the Bahamas Securities Commission and managed by FxPro Global Markets.
FxPro Reliability
The broker firm has proven to be a reliable and professional company for the years it has been operating. The huge numbers of users who have signed with the broker firm prove the reliability of the company. Also, the broker firm has also won a number of recognitions and numerous awards for the services of high quality that it provides its clients. Research shows that there is no other broker company that is close to the achievements of FxPro. As an assurance and further evidence of reliability, traders from the Middle East and the UK are protected by the Scheme of Investors Compensation in the UK and FSCS (Financial Services Compensation Scheme) in the Middle East. Trading with a broker that clients can rely on is important for success. There are scams and frauds in the industry of forex trading. The broker firm maintains the biggest regulatory independent database which is made available on their website. The company has created a 1 to 100 proprietary score of trustworthiness that they call the trust score.
Is Fxpro an ECN broker?
No Fxpro is not an ECN broker. We can read on the Fxpro website in section Why FxPro is not an ECN Broker that ECN refers to the anonymous communication between executing counterparties which may, in fact, result in no guaranteed fills and worse pricing for the retail trader.FxPro is a true No Dealing Desk Execution broker and it is not an ECN broker! FxPro is not an STP Broker as well (STP (Straight-Through-Processing) is, in fact, a post-execution, post-trade communication process between executing counterparties with minimal impact on the speed or price of execution that a retail trader is offered.
Is Fxpro a market maker?
No Fxpro is not Market Maker in 2020? FXPro has quit being a Market Maker in 2013. Now FXPro does not have a dealing desk to counter-order against its traders and FxPro is No Dealing Desk Execution broker!
FxPro Execution, Transparency and Trading Conditions
The broker firm is a strong supporter of fairness and transparency in the industry of forex trading. FxPro has made efforts to ensure that conflicts are eradicated between a client and a broker. The broker firm is committed to giving its customers and traders with full support and reporting. The company posts its slippage statistics on their websites on a monthly basis. The traders are allowed to select between market execution and instant execution. This is a characteristic that is not provided by most brokers of forex. The broker firm also has execution technologies and order matching technology that is upgraded constantly.
Platform Of FxPro
There are 8 different trading platforms that are associated with FxPro. Four platforms are being dedicated by FxPro for smartphones. 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 wants to resize the shapes, it is also possible. Also, if you want to use the cTrader platform, you can switch to it very easily.
How to download the Fxpro program on my computer? Easily. Visit Fxpro mt4 platform download section (Fxpro mt4 free download) and download Mt4, Fxpro Metatrader 5 and cTrader platform (download Fxpro mt4 for pc and for mobile). How to install the Fxpro program on my computer? Run.Exe file and follow the app screen! If you want to use calgo fxpro, cTrader Automate advanced algo and technical indicator coding application, after registration you will be able to use it from the dashboard.
FxPro cTrader
The traders that want raw speed to trade with, this is the right platform. This type of platform is provided by FxPro for such traders. It is made for ECN type of trading. It also allows traders to be in a position to access other markets with different rates such as interbank rates. The other main future of the platform is that it is capable of supporting viewing of market depth and algorithmic trading.
MetaTrader 4
This is considered as a trading platform that is standard for the industry of online forex. This is contributed by the fact that most brokers in this industry have implemented this platform of trading. Numerous traders across the world prefer this platform of trading due to the comprehensive tools and features which have been integrated into MetaTrader 4. For instance, the platform supports several languages. This feature allows traders to use their preferred language in customizing the user interface. Another strong feature of MetaTrader 4 is that it supports several types of orders. However, the strongest feature of this platform is that it can be able to support automatic trading. With the help of advisors who are experts, a trader can program MT4 to automatically execute trades depending on the parameters of trading.
MetaTrader 5
This is considered a version of MetaTrader 4 which is updated. It is almost the same as MT4 and has got equal strength to MT4. The difference is that MetaTrader 5 has got features that are upgraded. For instance, MetaTrader 5 is able to support extra timeframes. It can also give traders depth information regarding markets.
FxPro Mobile Trading
With the growing ownership of smartphones, it is obvious that traders will turn to smartphones for trading the financial markets. In order for FxPro to cater to the trend that is emerging, it has given the opportunity to traders by giving them trading platforms that are optimized as per their mobiles. The trading apps for mobiles can just be downloaded from the Apple App Store or Google Play store with no fee charges. The traders of FxPro can trade directly using their hands and from their hands with the apps installed on their mobile phones.
FxPro Features
These markets are geared towards those traders that want to directly trade the market using their mobile devices or computers and do not have to install or download any program or software. One of the advantages and strongest features of this platform is that it allows a trader to do more than one task on the platform at the same time. A trade is in a position to trade, fund and manage his account from the same screen at the same time.
Demo Account
MT4 Account
MT5 Account
cTrader Account
Edge Account
VIP Account
Joint Account
Islamic Account
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 on their web site using which; you can understand all the basics of forex in a jiffy. The loading time of these videos is 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 effort 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.
Instruments and Trade Types of FxPro
A trader can trade the CFDs and spot forex with FxPro. The asset classes are market indices, futures, commodities, and stocks for CFDs.Is Fxpro good for indexes and commodities? Of course – you can trade forex, indexes, commodities, main USA shares, UK shares. The markets currently cover 20 future contracts, 2 precious metals, 29 market indices, 3 energy commodities, 70 currency pairs, and over 160 stock types.
FxPro Tools
How does Fxpro work?Fxpro broker company has got a balanced offering regarding its range of markets, trading assets, and pricing options. It caters for those who have developed or those that use trading systems that are automated and the beginners. The company provides standard Windows Mt4 platform and a version of MetaTrader 4 that is web-based and is able to be accessed through all web browsers that are Java-enabled. The web-based cTrader platform at the broker firm has advanced tools of charting with a smooth design of the layout. This layout features only narrow spreads with pricing that is commission-based. The cTrader web version leverages the technology of HTML 5 for its layout that is responsive and simple to navigate. It is seamless to move across the platform’s sections and navigate the categories possessed by the platform.
The cTrader desktop version runs on Windows 10 smoothly and has a trading functionality that algorithmic through its feature of cBots. It also has ideas of trading displayed within the charts as visual targets. This platform version has more features as compared to the version that is web-based. The features include equity charts, journal tabs and trading statistics within the default layout platform in the right bottom quadrant.
Is Fxpro compatible with hedging Expert Advisors? Yes, because there are no FIFO rules for Fxpro accounts. All indicators and expert advisors for mt4 and mt5 you can easily use in Fxpro Metatrader too.
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 layman terms. The user interface designed for the registration process is awesome, as it takes you to the specific place if you forget to fill in some information. You can try fxpro direct 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 Skrill (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 two quarters of 2011.
FxPro Types of Accounts
The three major accounts of FxPro include premium accounts, standard accounts, and demo accounts.
Fxpro Demo Account
This account is provided for free at FxPro for the traders that want to try the platforms of FxPro without any expenses. It has a $500000 virtual balance. Using the demo account, a trader is able to access a variety of platforms like MetaTrader 5, cTrader and MetaTrader 4 (fxpro mt4 download free).
Standard Accounts
The standard accounts have four different subcategories including FxPro markets, FxPro cTrader, FxPro MT5, and FxPro MT4. For FxPro MT4, the minimum deposit is $500 and the leverage is in a ratio of 1:500. The instruments for this account include metals, indices, energies, futures, and forex. It is supported by expert advisors and has market execution. The FxPro MT5 allows a minimum deposit is $500 and the leverage is in a ratio of 1:500. The instruments for this account include metals, indices, energies, futures, and forex. It is supported by expert advisors and has instant and market execution. The features for FxPro are the same as for FxPro MT5 cTrader which is a leverage ratio of 1:500. The instruments for this account include metals, indices, energies, futures, and forex. It also has instant and market execution. The only difference with FxPro MT% is that it is supported by a robot and allows a minimum deposit if $1000. For FxPro markets, the minimum deposit is $500 and the leverage is in a ratio of 1:500. The instruments for this account include metals, indices, energies, futures, and forex.
Premium Accounts
The premium accounts allow investors that have at least $50,000. The holders of premium accounts get to enjoy some added benefits which the holders of standard accounts do not enjoy. However, what attracts most in premium accounts is that it has lower spreads which traders that have accounts with it get to enjoy especially when they trade using big volumes.
FxPro Spreads and Commission
There are spreads and commission charges that traders should pay in terms of the cost of trading. The users of cTrader pay a $45 commission per $1000000 traded in addition to the spreads which are quoted with. The spreads seem very competitive even with the charges on commission. The broker firm’s floating rate model called the spread variable is availed on MetaTrader 5 and MetaTrader 4 with 1.39 for those accounts that are on market execution and 1.56 for those accounts which are on instant execution. One expects different spreads from FxPro depending on the instrument. Below are some examples:
• EUR/USD-0.3 pips
• USD/JPY-0.5 pips
• NZD/USD-1.2 pips
• EUR/JPY-0.4 pips
• GPB/USD-0.7 pips
The pricing can be compared to competitors like Saxo Bank, FXCM, Forex.com, IG, and OANDA in their offerings of standard accounts but the traders that are involved in larger deposits and higher volumes might want to get pricing that is more competitive at platforms which are available on Saxo Bank, FXCM, Forex.com, and IG. Otherwise, the MetaTrader 5 spreads can be compared with those offered by CMC Markets, Plus500, and OANDA even though there may be differences concerning the execution model and the account type. Generally, with instant execution and market execution available, a client has got more options regarding fees and commission at FxPro which assists the broker firm caters to a variety of forex traders.
Withdrawals and Deposits Options at FxPro – How to withdraw funds from Fxpro
How to get my money out of my Fxpro account? The broker firm has made its platform to support six methods of payment. One can make a withdrawal or a deposit using PayPal, Skrill, UnionPay, Credit Cards, Bank Wire Transfer, and Net Teller. Withdrawals take a maximum of a single business day for processing and they are completely free. However, the entire process of withdrawal can take up to five days of business to be completed.
Promotions and Bonus at FxPro
Fxpro bonus offer doesn’t exist currently.
FxPro does not provide any promotional offers or bonuses because of its regulatory requirements currently.
Education
There is a trading academy for FxPro which is made to teach the forex trading basics to those who are starting out and assist them in preparing for the challenges which are involved in trading in the current world of currency markets. FxPro has got a video library that is extensive and provides insightful and short videos regarding the basics of the topic. The videos are aimed at improving the overall performance of the trading of an individual. The videos also load in a fashion that is timely, unlike other forex videos that are available on websites of other brokers. The videos also include general strategies for trading and some tips on how to use the platform of trading. The platform also offers an economic calendar that educates a trader and helps them to plan their day of trading. The traders can be in a position to view all reports about the economy.
Research
The broker firm gives daily updates on their blog. The updates have got content that is rich from the analysts that work for the company. It also has got the news that stream in the platform from the newswire of Dow Jones. The research at FxPro is robust. The broker firm combines research from a variety of external providers with its in-house research and content and integrates it in its trading platforms. The broker firm has Trading Central which a leading research and news provider that creates automated solutions of pattern recognition that are availed on MetaTrader 4 as a plugin and cTrader platform. The company also used to provide Auto Chartist but it was discontinued in the year 2017. The companies which can be compared to FxPro in terms of the content breadth and in-house research include IG, Saxo Bank, and CMC markets for the providers of multi-assets and FXCM, GAIN, OANDA for the content that is forex related.
Customer Support at FxPro
FxPro has comprehensive customer support. The support team is available twenty-four hours five days a week. They can be reached by mail, telephone, live chat, and other means. In order for the broker firm to handle its diverse base of clients, the support service is localized and multilingual. There are over 30 countries that are currently supported by its customer service on a localized level.
The Pros and Cons of FxPro
Pros
• It has a wide choice of trading accounts.
• The support is localized and comprehensive
• Broad instruments range
• It is regulated
• It has several categories of trading platforms
Cons
• Does not have promotional offers and bonuses
• The process of withdrawal takes a long time
Conclusion
Generally, there is something for every trader at FxPro and this is what makes FxPro easy for the traders of forex. The features of FxPro are not specifically unique but they are given and presented in a manner that they are professional and helpful and serve different categories of traders adequately.
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 are 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 include their email ids and contact phone numbers. This makes you 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 on 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.
My opinion:
Is Fxpro a good broker?
Yes, Fxpro is an excellent broker. 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, the 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 a margin calculator, pip calculator, and a currency converter.
In 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 platforms, live chat, and excellent support, easy way for deposit and money withdrawal.
Based on my past research (section about top forex brokers on the ranking list) Fxpro is one of the best forex brokers based on visitors poll. Last several years, this forex broker is an example of trust, excellent communication, great tools, and tight spreads.
Visit Fxpro forex broker
