FxPro, a trading platform established in 2006 and headquartered in London, is recognized for its trustworthiness with over 2 million users across 170 countries, regulated by FCA, CySEC, FSCA, and SCB. Offering real-time news, extensive trading options, and transparent pricing, it stands out despite relatively higher fees and a less robust educational platform. FxPro has a high credit rating and participates in the Financial Services Compensation Scheme.
With trading platforms like MetaTrader 4, MetaTrader 5, cTrader, and FxPro Trading Platform, users can experience a user-friendly desktop interface. The mobile app is for iOS and Android, featuring customizable watchlists, mobile price alerts, and real-time news.
Research tools include a macroeconomic calendar, daily fundamental research, and real-time news.
While educational resources are somewhat basic, FxPro serves algorithmic trading through cTrader and a Virtual Private Server (VPS). Offering over 2,100 instruments, it is more focused on experienced traders, and beginners may need more accommodation.
Customer support is available 24/5, and the platform is inaccessible in the United States. The recommended minimum deposit is at least $100.
- Gives you real-time news, so you’re up to date
- Offers more trading choices compared to others
- Prices are clear and easy to understand
- The fees are a bit on the high side
- Signing up for a demo account is required
- The educational tools could be better
Is FxPro Secure?
Yes, FxPro is considered safe. It has been around since 2006 and is regulated by reputable bodies such as the FCA, CySEC, FSCA and SCB. These regulations ensure the platform adheres to certain standards, making it a trustworthy choice for users.
FxPro has a strong credit rating of 96 out of 100, indicating a low risk of default or bankruptcy. It also participates in the Financial Services Compensation Scheme (FSCS), which provides customers with a safety net in case of a platform insolvency. Overall, these measures help improve the platform’s security reputation.
Markets and Products
FxPro offers over 2,100 instruments across various categories, including over 70 FX pairs, equity indices, individual company shares, energy, metals and cryptocurrency CFDs.
This broad range provides many trading options for your area of interest. Spread betting is a form of derivatives trading in which you do not own the underlying asset and is exclusively available to UK clients. Whether you are interested in Forex, stocks or cryptocurrencies, FxPro is offering you plenty of trading options.
FxPro Fees and Charges
For most trades, there are no commissions, which is a plus. They highlight the absence of an expensive dealing desk, claiming it helps pass cost savings to users. However, there are a couple of situations where commissions come into play.
For the FxPro MT4 Raw Spread account, there’s a charge of $3.50 per lot when opening and closing.
Similarly, if you’re using cTrader, it charges $35 per $1 million traded upon opening and closing. It’s good to be aware of these specific cases. Also, remember that accounts might be disabled after 3 months of inactivity, although it’s not entirely clear if there’s a fee associated with this common industry practice.
FxPro Account Types & Account Opening
The process of opening an account with FxPro is very simple. They recommend a minimum deposit of $1,000, but you can start with $100. They offer diverse account types to suit different preferences. Most trades on FxPro do not involve commissions, but it is worth noting that there are exceptions.
For example, the FxPro MT4 Raw Spread account charges $3.50 per lot on open and close, while cTrader charges $35 per million trades on open and close. Keep these special features in mind when choosing an account type. Opening an accountis easy, and the platform provides options suitable for different trading needs.
| Account Type | Available |
|---|---|
| Demo Account | Yes |
| Islamic Account | Yes |
| Segregated Account | Yes |
| Managed Account | Yes |
| Suitable for Beginners | Yes |
| Suitable for Professionals | Yes |
| US Trader | No |
How to Open an Account
It’s a breeze to start an account with FxPro. Go to their website and hit the “Sign Up” or “Open an Account” button. What’s next? Filling a few forms with your name, email, and phone number. They might ask you for some ID documents to make sure it’s you, an ordinary safety check. When that is confirmed, you pick your account style. The first deposit starts at a hundred bucks. Make sure you know if any costs come with your account type. Once you’ve done all that, you’re all set to trade on the FxPro platform.
Trading Platforms
Trading becomes simple with FxPro’s various platforms. Choices like MetaTrader 4, MetaTrader 5, cTrader, and FxPro’s platform are available. Each one gives a smooth, user-friendly service with uncomplicated pricing. Desktop users benefit from bespoke watch lists and conditional orders.
MetaTrader 5 doesn’t allow hedging. For mobile traders, FxPro provides a top-notch app for both iOS and Android. Set alerts for price changes, tailor your watch lists, and access real-time news on current market trends.
Mobile Trading Platform
Both easy and convenient trading can be accomplished with the mobile trading platform FxPro provides. Whether you’re an iPhone or Android user, the mobile app offers a simple yet efficient experience for your trading needs. It is possible to tailor-make watchlists, receive notifications of price movements, and access live news feeds.
Web Trading Platform
XPro’s online trading platform has been created to allow you to trade directly from your web browser without installing anything on your computer. It also has a very user-friendly interface that allows for the execution of trades with no problems.
The platform complies with forex industry standards and provides transparent pricing with commission-free trading. With the capability to develop customizable watchlists and submit conditional orders, you can always monitor all activities done by various companies on the watchlist. Although MetaTrader 5 does not support hedging, it provides multiple charting options, indicators, and studies.
There is also a running news feed to keep you up to date with the latest market headlines. When you do not want to install any other software, FxPro’s web trading platform is a good and accessible alternative for trading.
Desktop Trading Platform
Among the other options available to FxPro traders on their desktop trading platform is a wide range of platforms, including MetaTrader 4, MetaTrader 5, cTrader, and their own FxPro Trading Platform.
Using hedging is not possible with MetaTrader 5. The FxPro desktop environment is a reliable and professional industry-standard tool to support your trading activities so that you can make more informed decisions.
FxPro Research Tools
One useful tool is the macroeconomic calendar, allowing you to keep track of important releases that might impact the markets. They also provide daily fundamental research and collaborate with Trading Central to offer technical analysis.
FxPro stands out with its multilingual webinars on its YouTube channel, providing valuable insights for traders.
Their real-time news offering keeps you updated on market developments. While the educational resources are somewhat basic, the research tools provided by FxPro are above average, providing essential information for traders.
FxPro Educational Content
FxPro offers educational content to help users understand trading and finance. They have beginner-friendly videos and written lessons covering topics relevant to their services. If you’re already familiar with the basics, there’s an advanced education section. You can also find a short educational playlist on their YouTube channel. FxPro provides a glossary of CFD terms, a handy resource for understanding the trading jargon. While the educational offerings are decent, they may not be as extensive as other platforms.
Customer Service Overview
FxPro is known for excellent customer care. They’re there for you 24/5, from Monday to Friday. The support team speaks different languages. You can call them, email them, chat..They have phone lines in places like the UK, Cyprus, Monaco, Bahamas, and UAE. UK folks even have a free number to call! They stand out because they have a real London office. It’s open from 7:30 a.m. to 4:30 p.m. They also have a Twitter page. It mostly shares news, but it doesn’t have much customer help. FxPro aims to give every user top-notch, trustworthy help.
FxPro Deposit and Withdrawals
FxPro offers a simple approach to money management. You can start by depositing at least $100 to your account, but a $1,000 initial deposit is suggested. Several payment channels, such as bank transfers, credit cards, and assorted online payments, are available. Withdrawals are handled quickly and use the same channels.
Deposit Methods
With FxPro, you get various choices to fund your trade account. Bank transfers, credit cards, and multiple online payments are options. $100 is the least money needed to begin. However, $1,000 is the recommended starting point. Adding funds is a breeze. It’s best to verify possible fees with your selected payment system. FxPro doesn’t take any deposit fees.
Withdrawal Methods and Payout Times
You use the same options you used to put in cash. These options are bank transfers, credit cards, and different online payments. FxPro wants to handle withdrawals swiftly. FxPro usually doesn’t ask for fees on most tasks. Yet, it is smart to see if the way you choose to withdraw has any fees. When you can get your money, it will change. It depends on your choice and other things. But usually, FxPro tries to make earning money easy for people.
FxPro Online User Reviews and Ratings
Positive feedback. The company has a solid reputation, with an average rating of around 4 stars out of 5 from multiple customer review platforms such as Trustpilot, Sitejabber, and Reviews.io. Users often highlight FxPro’s user-friendly platform, competitive spreads, versatile trading options, and good customer support. The broker is viewed as highly trusted, with a Trust Score of 90 out of 99, and is generally considered legitimate and reputable within the CFD trading space.
Author Opinion on FxPro
FxPro is a dependable, flexible trading ally. It has a sturdy standing. The broker provides an easy-to-use platform, fair spreads, and a wide assortment of assets. Adherence to regulations, fraud deterrence, and money protection increase confidence. While there’s room for better learning materials, FxPro’s strong points position it as a reputable choice for traders wanting an all-encompassing, reliable trading journey. Its apparent fee system, assorted account choices, and dedication to customer care enhance its good reputation in the Internet trading field.
Frequently Asked Questions
Can I trust FxPro?
Yes, FxPro is a trusted broker with a solid reputation, regulated by reputable authorities and prioritizing the security of client funds.
What is the minimum deposit FxPro?
The minimum deposit at FxPro varies based on the chosen account type but starts at $100.
How long is the FxPro withdrawal?
Usually instant. The withdrawal processing time at FxPro depends on the chosen method. Typically, e-wallets offer quicker withdrawal times compared to bank transfers.
Which broker is better than FxPro?
Determining which broker is “better” depends on individual preferences and trading needs. FxPro’s competitive features, user-friendly platform, and diverse assets make it a strong contender. Several forex brokers have been compared to FxPro in terms of fees, features, and overall performance and those are: IG, Forex.com, Oanda, eToro, XM,Pepperstone, Exness, etc.
How much commission does FxPro take?
FxPro charges fees primarily through spreads for CFDs and forex trading. The exact commission may vary based on the chosen account type and trading activity.
I have some comment about withdrawals that wasn’t brought up in the review. Yes you have to use the same payment method for withdrawal as you used for deposit up to the deposited amount.
The profits should be withdrawn via bank wire transfer. It can take time and not the most convenient payment way to use
FxPro is one of the most safe and secure platforms. It is renowned, has many operational licences and, most importantly, has a huge base of clients.
This is an excellent in-depth review, and I agree with all the points highlighted in it. The author has done an amazing job spotting the platform`s pos and cons.
I remember the fee of $3,5 per lot per turn one time was one of the lowest, but now there are platforms with even a lower fee than this one for an ECN account type. So, yes, I agree with the concussion that the fees are a bit on the high side.
Oh… this is a pretty new and updated review.
I have been trading with FxPro for a while and one of the reasons I decided to work with it was the trading costs.
I use Raw+ account and pay a fee of $3.50 per side. This is one of the lowest fees in the market for raw spreads account type, and this is why I couldn’t completely understand why the fees were put on the Cons side.
Mehhh, the broker has flaws, but I do not agree with these ones that are listed here. I think fxpro has great educational materials and fair pricing all around.
Hmm, it looks like a couple of years it will be 20 years from the moment when FxPro started its brokerage activity
I`m sure that this is a feature that has a positive effect on quality of services
The suggested amount is done based on some assumptions I think, because $100 may not generate a lot of profit even with nice leverage. But still, you can deposit as little as $100, it is your choice! $1000 is like the average comfortable trading capital which can bring some reasonable profit if you have a good strategy with planned risk/reward!
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