Elevating Your Trading Experience
Founded in 2006, FxPro is a global forex and CFD broker with a longer history than many competing platforms in the industry, and a great degree of trust to go along with it. The broker’s standout reputation in the market has pushed the company past several milestones, including attaining the 2 million-client mark (in 170+ countries), 635,000,000 orders executed, and a prestigious sponsorship with the McLaren F1 team.
Expert Reviewer Verdict
Considering FxPro as your trading partner comes with unique advantages that set it apart in the competitive world of online trading. With its user-friendly platform, competitive spreads, and a wide array of assets, FxPro offers traders a comprehensive and versatile trading experience.
FxPro caters to traders of all experience levels, making it an ideal choice for both beginners and seasoned investors. The broker’s ongoing commitment to user-centric features, a variety of account types, and innovative tools position it as a suitable option for a diverse range of traders.
Pros and Cons
Pros
- 4 Account Types
- 2,100+ Tradable Assets
- Regulated by Reputable Regulatory Authorities
- Advanced Trading Tools Available
Cons
- $100 Minimum Deposit
- Limited Educational Resources Available
Trust and Safety
Upholding Security and Integrity
When choosing a broker, trust and safety are paramount considerations. In this section, we delve into FxPro’s commitment to trustworthiness, regulatory compliance, fraud prevention, and the security of client funds.
Regulation: FxPro operates as a regulated broker under the oversight of prominent regulatory authorities.
Fraud Prevention: FxPro implements robust measures to prevent fraud and unauthorized access. By employing advanced encryption technology and rigorous identity verification processes, the broker ensures that clients’ personal information and funds are safeguarded from malicious activities.
Client Fund Security: The security of client funds is a top priority at FxPro. The broker utilizes segregated accounts, which means that traders’ funds are kept separate from the broker’s operational funds. This practice minimizes the risk of commingling and misappropriation, enhancing the safety of clients’ investments.
|
Regulatory Body |
Status |
|
ASIC |
No |
|
CySEC |
Yes |
|
DFSA |
No |
|
EFSA |
No |
|
FCA |
Yes |
|
FMA |
No |
|
FSA (SC) |
No |
|
FSCA |
Yes |
|
FSC |
No |
|
JFSA |
No |
|
MAS |
No |
|
MiFID |
Yes |
With its comprehensive regulatory framework, stringent fraud prevention measures, and client fund security practices, FxPro demonstrates a high level of commitment to trust and safety.
Tradable Instruments
Diverse Investment Opportunities
The range of tradable instruments offered by a broker is a crucial factor for traders seeking diverse investment opportunities. FxPro delivers a comprehensive selection of assets across various categories, enabling traders to access a wide spectrum of financial markets.
FxPro provides access to the commodities market, allowing traders to speculate on the price movements of raw materials such as gold, oil, and agricultural goods. FxPro facilitates currency trading by offering an array of currency pairs, including major, minor, and exotic pairs, catering to forex traders of all levels. For those interested in the exciting world of cryptocurrencies, FxPro provides the opportunity to trade various crypto pairs, including popular options like Bitcoin, Ethereum, and more.
Traders looking to engage in futures trading can do so through FxPro, accessing contracts based on commodities, indices, and other assets. FxPro provides access to a variety of indices, allowing traders to speculate on the overall performance of stock markets in different regions.
Equity traders can choose from a wide range of stocks available through FxPro, gaining exposure to companies listed on major global exchanges.
|
Trading Instrument |
Available |
|
COMMODITIES |
Yes |
|
CURRENCIES |
Yes |
|
CRYPTOCURRENCIES |
Yes |
|
ETF |
Yes |
|
FUTURES |
Yes |
|
INDICES |
Yes |
|
STOCKS |
Yes |
|
BONDS |
No |
|
OPTIONS |
No |
All things considered, FxPro provides an extensive selection of tradable instruments, encompassing a wide spectrum of markets. While the variety is commendable, the exact number of instruments could not be determined at this time. A more comprehensive number would further enhance its rating.
Account Types
Flexibility and Accessibility
FxPro offers a range of account types tailored to cater to the diverse needs of traders, ensuring accessibility and flexibility in trading. FxPro offers a diverse range of account types to cater to various trader needs. They provide a demo account for risk-free practice and strategy refinement. For Muslim traders, there are Islamic accounts that adhere to Sharia law principles by eliminating interest payments. To enhance security and transparency, FxPro ensures fund segregation, keeping client funds separate from operational funds.
For those looking for professional management, managed accounts are available, providing a hands-off approach to trading. FxPro is suitable for both beginners and professionals, offering educational resources and user-friendly platforms, along with advanced tools and features for experienced traders. However, it’s important to note that FxPro does not accept traders from the United States, which is a limitation to consider when evaluating its suitability. Here’s an overview of the available account types and their features:
|
Account Type |
Available |
|
DEMO ACCOUNT |
Yes |
|
ISLAMIC ACCOUNT |
Yes |
|
SEGREGATED ACCOUNT |
Yes |
|
MANAGED ACCOUNT |
No |
|
SUITABLE FOR BEGINNERS |
Yes |
|
SUITABLE FOR PROFESSIONALS |
Yes |
|
US TRADER |
No |
Commission and Fees
Transparent Pricing
FxPro is committed to transparent pricing, with competitive fees that reflect the value it provides to traders. Here’s an overview of the commission and fees associated with trading on the platform:
Account Minimum
The broker requires a minimum initial deposit, which varies based on the account type chosen.
Trading Fees: FxPro offers competitive spreads on various instruments, contributing to cost-effective trading.
CFD Fees
As a CFD broker, FxPro charges fees based on the spreads and overnight funding rates.
Forex Fees
Forex trading fees are primarily based on spreads, with varying rates across currency pairs.
Futures Fees
Futures trading fees are determined by spreads and other associated costs.
Account Fee
FxPro does not charge any account maintenance fees.
Inactivity Fee
A fee might be charged for inactivity on the account after a certain period.
Deposit Fee
FxPro generally does not charge deposit fees, but third-party payment processors might have associated fees.
Withdrawal Fee
FxPro doesn’t generally charge withdrawal fees. However, third-party processors may charge associated fees.
Overnight Funding Fee
FxPro charges or credits overnight financing fees for positions held overnight.
Currency Conversion Fee
For clients trading in a different currency, a conversion fee may apply.
Inactivity Fee
FxPro may charge an inactivity fee for dormant accounts.
FxPro’s transparent fee structure, competitive spreads, and minimal account maintenance charges contribute to its high rating. However, potential additional fees for inactivity and guaranteed stop orders slightly affect the rating.
Trading Platforms
Versatile and User-Friendly
FxPro offers a range of trading platforms to cater to different trading styles and preferences.
Here’s an overview of the trading platforms and their features:
Mobile Trading Apps
FxPro provides mobile trading apps for both Android and iOS devices, allowing traders to stay connected and manage their trades on the go.
Web Trading Apps
The broker offers a web-based trading platform accessible through browsers. It provides real-time data, advanced charting tools, and a user-friendly interface.
Desktop Trading Apps
FxPro supports the popular MetaTrader platforms – MT4 and MT5 – for desktop trading. These platforms offer advanced charting, technical analysis tools, automated trading capabilities, and access to a wide range of trading instruments.
Charting and Analysis
The MetaTrader platforms offer comprehensive charting tools, technical indicators, and customizable layouts, empowering traders to perform in-depth analysis.
Ease of Use
FxPro’s trading platforms are designed with user-friendliness in mind, ensuring both beginners and experienced traders can navigate and execute trades effortlessly.
Algorithmic Trading and Copy Trading
The MetaTrader platforms support algorithmic trading through Expert Advisors (EAs) and offer copy trading services, allowing traders to follow and copy the strategies of experienced traders. Additionally, FXPro provides its own web trader and app for traders’ convenience and seamless trading experiences.
|
Trading Platform |
Available |
|
MT4 |
Yes |
|
MT5 |
Yes |
|
CTRADER |
Yes |
|
PROPRIETARY |
Yes |
|
Desktop and Web Platform |
Available |
|
DESKTOP WINDOWS |
Yes |
|
DESKTOP MAC |
Yes |
|
WEB PLATFORM |
Yes |
|
Mobile Platform |
Available |
|
ANDROID |
Yes |
|
iOS |
Yes |
FxPro’s trading platforms offer a solid and diverse range of options, with support for MetaTrader platforms, mobile trading, and web trading. Moreover, FXPro enhances user flexibility by providing its own web trader and app, ensuring traders can access their accounts conveniently from various devices.
Unique Features
Empowering Traders With Valuable Insights
FxPro offers a variety of unique features and tools aimed at improving traders’ decision-making processes and providing insights into market trends and trading practices. These features include push notifications, which keep traders updated in real-time about market events and news affecting their trading decisions.
The platform also provides trend exploration tools like technical indicators, chart patterns, and trend lines to assist traders in identifying and analyzing market trends, enabling more informed entry and exit decisions. Moreover, FxPro offers instrument-specific insights, which offer a deeper understanding of factors influencing the price movements of different assets. Additionally, traders can access comparative analysis of user trading behaviors to gauge market sentiment and make more informed decisions.
These unique features enhance the overall trading experience, although further advanced tools could potentially lead to an even higher rating for the platform.
Research and Education
A Solid Foundation With Room to Grow
FxPro’s research and education offerings provide traders with a foundation for learning, but there’s potential for further enhancement to match industry leaders. Here’s an assessment of the broker’s educational content:
Learning Center Overview: FxPro offers a comprehensive Learning Center with educational articles, tutorials, and guides on trading strategies, technical analysis, and market fundamentals.
Educational Content Comparison: While FxPro’s educational content is informative, it could benefit from more interactive elements such as webinars, live trading sessions, and quizzes to engage traders on a deeper level.
Progress in Education: FxPro has made progress in expanding its educational resources, evident through the diverse range of articles and guides available to traders.
Content Sources: FxPro’s content is primarily sourced internally, but collaborations with external experts or partnerships with financial education providers could further enrich the educational offerings.
Areas for Improvement: To match industry leaders, FxPro could enhance its educational offerings by introducing more interactive elements, market simulations, and a broader range of topics catering to both beginner and advanced traders.
Video Focus: Incorporating more video content, including tutorials, market analyses, and expert interviews, could create a more engaging learning experience for traders.
FxPro has established a solid educational foundation, but there’s room for improvement to compete with industry leaders. By diversifying and expanding their educational resources, FxPro can better serve traders of all skill levels.
Customer Support
Comprehensive and Accessible
FxPro ensures traders have access to assistance whenever they need it, offering robust 24/5 customer support services. Whether it’s during standard hours or beyond, traders can rely on FxPro’s dedicated customer support team to provide prompt assistance, enhancing their overall trading experience.
Beyond regular hours, FxPro extends their support, ensuring that traders’ queries are addressed even during non-standard times. They offer multi-channel support, with options like live chat, email, and phone support, providing flexibility based on traders’ preferences. Additionally, FxPro enriches the trading experience with supplementary information and tools, including a comprehensive FAQ section, educational resources, and market analysis reports. These measures demonstrate FxPro’s commitment to effectively supporting traders.
Account Opening
Streamlined and User-Friendly
FxPro offers a straightforward and user-friendly account opening process, making it easy for traders to start their journey. Here’s an overview of the application process:
Personal Information: Begin by providing your personal details, including name, email, and country of residence.
Account Type: Choose the type of trading account you wish to open, such as a standard account or a professional account. FxPro offers a range of account options to cater to different trading needs.
Verification: Verify your identity and address by providing appropriate documents. This is a standard regulatory requirement aimed at ensuring the safety and security of both the trader and the broker.
Questionnaire: Answer a few questions about your trading experience and investment knowledge. This helps FxPro understand your level of expertise and tailor their services accordingly.
Funding: Choose your preferred funding method and deposit the initial amount to start trading.
FxPro’s account opening process is straightforward and well-guided, minimizing the time required to start trading.
The availability of different account types and the ease of verification contribute to its positive ranking.
Deposit and Withdrawals
Flexible and Efficient
FxPro offers a range of convenient and secure options for both depositing funds and withdrawing profits. Here’s an overview of their deposit and withdrawal process:
Deposits: FxPro offers a range of deposit options, encompassing credit/debit cards, bank transfers, and popular e-wallets such as Skrill and Neteller. The platform is designed to facilitate rapid processing of deposits, ensuring traders can swiftly fund their accounts.
Withdrawals: For withdrawals, FxPro maintains a straightforward approach by using the same methods employed for deposits, ensuring both security and ease of use. However, it’s worth noting that the processing time for withdrawals can vary depending on the chosen method. Typically, e-wallets tend to offer quicker withdrawal times in comparison to bank transfers.
FxPro’s flexibility in deposit and withdrawal methods, coupled with efficient processing times, contributes to its positive rating. However, it’s recommended to review the withdrawal processing times for each method before making a decision.
Final Thoughts
FxPro provides a comprehensive trading experience characterized by user-friendly features, competitive spreads, and an extensive array of assets. Although there is room for improvement in their educational resources, FxPro’s strengths position it as a viable option for traders in search of a versatile trading environment. Before deciding, it’s advisable to conduct thorough research to ensure that the broker’s offerings align with your specific goals and preferences. FxPro’s focus on user satisfaction and commitment to transparency make it a noteworthy broker to consider in your trading journey.
Contact Info
13-14 Basinghall str., City of London, EC2V 5BQ, UK
FAQs
-
Question: Is FxPro a regulated broker?
Answer: Yes, FxPro is regulated by CySEC and FSCA. -
Question: Does FxPro offer a demo account?
Answer: Yes, FxPro provides a demo account for practice. -
Question: What is FxPro’s customer support availability?
Answer: FxPro offers customer support through live chat, email, and phone during standard and extended hours. -
Question: Are there educational resources available on FxPro’s platform?
Answer: Yes, FxPro offers a learning center with articles, videos, webinars, and expert-led seminars. -
Question: Does FxPro offer mobile trading apps?
Answer: Yes, FxPro provides mobile trading apps for both Android and iOS devices.
App Store
Google Play