FxPro is one of the oldest and most reputable worldwide forex brokers. In this review, you will get information about bonuses, low forex fees, free deposit and withdrawal options, trading assets, and tools.
What is FxPro?
FxPro represents the leading online CFDs broker launched in 2006 that has its headquarters in the UK. FxPro is the world-leading brand that offers forex, commodities, and equities CFDs worldwide.
The FxPro group owns the company and manages and operates the company through various subsidiaries worldwide.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 six members. They have 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.
I gave a high rank to FxPro broker in our best forex brokers review.
The leverage ratio can be fixed at 1:1 as a minimum, and it can be increased up to a maximum of about 1:500. You can read more about the fxpro leverage policy in the FxPro website section.
FxPro is offering a demo account 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 you can deal with FxPro is one micro lot, but you can leverage 500 times your deposited money. FxPro is multilingual with many languages like German, Chinese, Japanese, English, Spanish, etc. Cysec, Asis, Mifid, and FSA have regulated FxPro for trading.
FxPro’s minimum deposit is $100 for all payment methods.
FxPro is approved and managed by the Financial Conduct Authority. The FCA is an autonomous body that is non-legislative yet has statutory forces by the UK’s Financial Services and the Markets Act of 2000. Additionally, FxPro is approved and managed by the Cyprus Securities and Exchange Commission and accomplished the “Speculators in People” Standard.
Is FxPro legit?
Yes, FxPro is a legit broker, and different authorities regulate the company in other jurisdictions. For instance, in the United Kingdom, the platform is regulated by the UK’s FCA (Financial Conduct Authority) and managed through FxPro UK Limited. FxPro is regulated by the Exchange Commission and Cyprus Securities (license number 078/07), the UK Financial Conduct Authority FCA (registration number 509956), South Africa Financial Sector Conduct Authority (number 45052), and Securities Commission of The Bahamas (SIA-F184).
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.
FxPro UK headquarters is located in HQ 13-14 Basinghall str., London, EC2V 5BQ, United Kingdom.
Is FxPro legal in Indonesia?
Yes, FxPro is legal in Indonesia and 172 worldwide countries. If you try to register at the FxPro website, you will see if your country is supported.
FxPro Restricted Countries List
FxPro broker does not accept clients from the following countries:
- Bosnia and Herzegovina
- Cote d’Ivoire
- Democratic People’s Republic of Korea (DPRK) (North Korea)
- Northern Marianna Islands
- Palestine Occupied Territory
- Puerto Rico
- South Sudan
- Trinidad and Tobago
- United States (USA)
The broker firm has proven to be a reliable and professional company for the years it has been operating. The enormous numbers of users who have signed with the broker firm prove the company’s reliability. The broker firm has also won several recognitions and numerous awards for the high-quality services that it provides its clients. Research shows that there is no other broker company 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 essential for success. There are scams and frauds in the industry of forex trading. The broker firm maintains the most extensive regulatory independent database available on its 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 the section Why FxPro is not an ECN Broker that ECN refers to the anonymous communication between executing counterparties, resulting in no guaranteed fills and worse pricing for the retail trader.FxPro is a genuine No Dealing Desk Execution broker, and it is not an ECN broker! FxPro is not an STP Broker (STP (Straight-Through-Processing). It is 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 Market Maker?
FxPro broker is a market maker broker because it acts as counterparties to their clients’ trades. As a result, FxPro can profit from setting the bid/ask spread and commissions. In addition, FxPro, as the broker, may benefit from any Client losses.
Read more in our article Is FxPro, a market maker?
Does FxPro accept US clients?
Yes, FxPro accepts US clients as long as they reside outside the US. Clients can confirm their US tax identification number during the account registration process. Additionally, FxPro can provide a client-specific form where the client can indicate a US tax identification number.
FxPro Execution, Transparency, and Trading Conditions
The broker firm is a strong supporter of fairness and transparency in forex trading. FxPro has made efforts to eradicate conflicts between a client and a broker. The broker firm is committed to giving its customers and traders full support and reporting. The company posts its slippage statistics on its websites monthly. In addition, the traders are allowed to select between market execution and instant execution. This is a characteristic that most brokers of forex do not provide. The broker firm also has execution technologies and order matching technology that is upgraded constantly.
How to trade on FxPro?
To trade on FxPro, you need to register on the FxPro website; Traders can trade on FxPro using different trading platforms such as Mt4, FxPro Metatrader 5, and the cTrader platform. FxPro is dedicating four platforms for smartphones. You can select the web trader platform and the MT4 platform offered by FxPro.
Fxpro has an excellent and easy navigation user dashboard. Below is presented my personal FxPro dashboard:
If you are a beginner concerning trade, then web trader will be the best platform. This is mainly because; this platform will not confuse beginners with more charts and trend graphs. Another critical aspect of FxPro is that you do not need a downloadable platform in nature, but you can trade with any PC and switch between different platforms with much ease.
Any coin has two sides, and so does the web trader platform. The web trader platform is too crowded, and it is also intuitive. The shapes present in web traders are partially covered and partially not. But, I the user wants to resize the figures, it is also possible. Also, if you’re going to use the cTrader platform, you can quickly switch to it.
How to download the FxPro program on my computer?
To download the FxPro program on your computer, you need to Visit the FxPro mt4 platform download section (FxPro mt4 free download) and download Mt4, FxPro Metatrader 5, and cTrader platform (download FxPro mt4 for pc and mobile).
How to install the FxPro program on my computer?
Run the Exe file and follow the app screen. The mt4 platform will be installed very fast and ready to use. Log into the account using your account username, password, and server ID.
cTrader trading platform is developed by Spotware, and it provides an added level of market analysis and access to complete market depth on an impressive and fully customizable user interface.
For the traders that want raw speed to trade with, this is the right platform. 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 to support viewing market depth and algorithmic trading.
This is considered a standard trading platform for the online forex industry. This is contributed by the fact that most brokers in this industry have implemented this trading platform. In addition, numerous traders worldwide prefer this trading platform due to the comprehensive tools and feature 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 powerful feature of MetaTrader 4 is that it supports several types of orders. However, the most vital part of this platform is that it can support automatic trading. With experts, a trader can program MT4 to automatically execute trades depending on trading parameters.
FxPro MetaTrader 5
This is considered a version of MetaTrader 4, which is updated. It is almost the same as MT4 and has equal strength to MT4. The difference is that MetaTrader 5 has got features that are upgraded. For instance, MetaTrader 5 can support different timeframes. It can also give traders depth information regarding markets.
FxPro Mobile Trading
With the growing ownership of smartphones, it is evident that traders will turn to smartphones for trading in the financial markets. For FxPro to cater to the emerging trend, traders can optimize trading platforms as per their mobiles. The trading apps for mobiles can 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.
These markets are geared toward those traders that want to trade the market using their mobile devices or computers directly and do not have to install or download any program or software. One of the advantages and most important features of this platform is that it allows a trader to do more than one task simultaneously. For example, a trader can simultaneously trade, fund, and manage his account from the same screen.
The three significant 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. A trader can access platforms like MetaTrader 5, cTrader, and MetaTrader 4 (fxpro mt4 download free) using the demo account.
The standard accounts have four categories: 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 of $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.
The premium accounts allow investors that have at least $50,000. The holders of premium accounts enjoy some added benefits that the holders of standard accounts do not want. However, what attracts most in premium accounts is lower spreads, which traders enjoy, especially when they trade using significant volumes.
FxPro offers an ocean of features to assist its traders with which you can make your trading experience much more fun. It is a known fact that images talk a lot more than text. But they have moved one more level and talked through videos, making your job much easier. All these videos are available on their website, using which; you can instantly understand all the basics of forex. The loading time of these videos is kept under their control so that you can see the videos loading faster than all other websites. While you can have a wide range of trade leveraging options in FxPro, you also have a choice with which you can trade without spending even a penny as a commission. FxPro puts a lot of effort into providing competitive spreads to its users. Technical analysis, reviews from trading experts, and news concerning forex are a few of the add-ons that FxPro provides. The good news is that all these add-ons are available on all the platforms and not just on their websites. Even though FxPro’s features are not unique, it is acceptable to most traders.
A trader can trade the CFDs and spot forex with FxPro. The asset classes are market indices, futures, commodities, and stocks for CFDs. So is FxPro suitable for indexes and commodities? Of course – you can trade forex, indexes, commodities, primary USA shares, and UK shares. Currently, the markets cover 20 future contracts, two precious metals, 29 market indices, three energy commodities, 70 currency pairs, and over 160 stock types.
Is FxPro suitable for indexes and commodities?
Yes, FxPro offers the most popular 20 worldwide indices and hard commodities such as crude oil, silver, gold, and platinum and soft commodities such as wheat, coffee, corn, and sugar. Because of fast execution and meager commissions, you can use FxPro to trade items and indices.
How does FxPro work? FxPro broker company has a balanced offering regarding its range of markets, trading assets, and pricing options. It caters to those who have developed or use trading systems that are automated and beginners. The company provides a standard Windows Mt4 platform and a version of MetaTrader 4 that is web-based and can be accessed through all Java-enabled web browsers. The web-based cTrader platform at the broker firm has advanced charting tools with a smooth layout design. This layout features only narrow spreads with commission-based pricing. The cTrader web version leverages HTML 5 for its responsive and straightforward structure to navigate. It is seamless to move across the platform’s sections and guide the categories possessed by the platform.
The cTrader desktop version runs on Windows 10 smoothly and has a trading functionality algorithmic through its feature of cBots. It also has ideas of trading displayed within the charts as visual targets. In addition, this platform version has more features compared to the web-based version. The features include equity charts, journal tabs, and trading statistics within the right bottom quadrant’s default layout platform.
Is FxPro compatible with hedging Expert Advisors? Yes, because there are no FIFO rules for FxPro accounts. You can easily use all indicators and expert advisors for mt4 and mt5 in FxPro Metatrader.
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, so they will try to explain things to you even if you ask a fundamental question in layman’s terms. The user interface designed for the registration process is fantastic, as it takes you to a 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. FxPro allows you to transfer your currency from Skrill (Moneybookers), Paypal, and Neteller online accounts and use your credit card and net banking. It is challenging to improve its trading amount to cross $589 billion, and FxPro has done it very quickly in the first two quarters of 2011.
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 and the spreads quoted. The spreads seem very competitive even with the charges on commission. The broker firm’s floating rate model called the spread variable is available on MetaTrader 5 and MetaTrader 4, with 1.39 for those accounts on market execution and 1.56 for those 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 Saxo Bank, FXCM, Forex.com, IG, and OANDA to offer standard accounts. Still, the traders involved in more extensive deposits and higher volumes might want to get more competitive pricing at platforms 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 and market execution available, a client has more options regarding fees and commission at FxPro, which helps the broker firm cater to various 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 withdraw or 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 entirely free. However, the entire withdrawal process can take up to five days of business to be completed.
What is the FxPro withdrawal limit?
The maximum FxPro withdrawal limit is 1 million dollars for bank wire transfers. The minimum FxPro withdrawal limit is $100 for bank wire transfers. However, there is no minimum withdrawal limit if you use payment wallets, such as Skrill. The maximum FxPro withdrawal limit for wallets is $25,000.
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.
There is a trading academy for FxPro, which teaches the forex trading basics to those who are starting and helps them prepare for the challenges involved in trading in the current world of currency markets. FxPro has an extensive video library and provides insightful short videos regarding the topic’s basics. The videos aim to improve the overall performance of the trading of an individual. Unlike other forex videos available on other brokers’ websites, the videos also load quickly. The videos also include general strategies for trading and some tips on using the trading platform. The platform also offers an economic calendar that educates a trader and plans their day of trading. The traders can be in a position to view all reports about the economy.
The broker firm gives daily updates on its blog. The updates have rich content from the analysts who work for the company. It also has got the news that streams on the platform from the newswire of Dow Jones. In addition, the research at FxPro is robust. The broker firm combines research from various external providers with its in-house research and content and integrates it into its trading platforms. For example, the broker firm has Trading Central, a leading research and news provider that creates automated pattern recognition solutions available on MetaTrader 4 as a plugin and cTrader platform. The company also used to provide Auto Chartist, but it was discontinued in 2017. The companies that can be compared to FxPro in terms of the content breadth and in-house research include IG, Saxo Bank, and CMC markets for multi-assets and FXCM providers GAIN and 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. The support service is localized and multilingual for the broker firm to handle its diverse base of clients. There are over 30 countries that are currently supported by its customer service on a localized level.
The Pros and Cons of FxPro
• 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
• Does not have promotional offers and bonuses
• The process of withdrawal takes a long time
Generally, there is something for every trader at FxPro, which makes FxPro easy for forex traders. 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.
It is a known fact that FxPro offers customer service that is being considered the best customer service among the forex trading consultants. The bases established by FxPro to provide 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 website of FxPro, you can get access to the contact details of all the departments, including their email ids and contact phone numbers. This makes you sure that you are reaching the right person for the proper concern. We tried to contact them using the contact us form on the contact us page to check their customer service. And to our surprise, they responded with a prompt response within 20 minutes of our query reaching them. The chat feature on their website also works great with a person always waiting to answer your queries. Even though we tried to confuse the customer care representative with a complex question, the query was transferred to the technical team, and we got the exact response to our query in no time. This is the fastest ever response that we have ever called from any customer care executive.
Is FxPro a good broker?
Yes, FxPro is a good broker for high deposit traders. FxPro provides many features that are intended for the simplification of the trading experience. Statistics show that most traders invest more than $5000 at FxPro, and there are a lot of accounts larger than $100000.
We find their extensive video library engaging as it allows for short and perceptive videos about general topics to improve trading performance. The videos are loaded in no time. The videos are about available trading methods and techniques, not only dealing with the trading platform.
During the FxPro review, the company’s spreads are listed clearly and what we appreciate is the company’s effort to provide competitive spreads. MT4 traders can enjoy trading EURUSD from 0.6 pips spread with the leverage up to 1:500 and fee-free trading. Traders can enjoy comparable spreads with up to 1:500 leverage. In addition, MT4 traders can benefit from 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, a pip calculator, and a currency converter.
In the end, FxPro’s characteristics are not especially rare and unusual. However, they were displayed professionally and helpfully to help any kind of trader sufficiently.
I like trading platforms, live chat, excellent support, and easy 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’ polls. Last several years, this forex broker has been an example of trust, excellent communication, great tools, and tight spreads.