FxPro is a trusted company that is an award holder for the Most Trusted Forex Broker firm in the UK for 2017. This information alone should ring loudly, and tell about the security of your data and finances.
Websites and applications that FxPro uses are simple to learn and user-friendly, all to make your trading experience straightforward and reliable.
FxPro is well regulated and is a license holder in many countries- most notably UK, Cyprus, South Africa, and the Bahamas.
This FxPro review is a reliable source of information for your brokerage needs. It will allow you to make a good decision quickly and start trading in a short amount of time, assuring that your finances are secure.
FxPro Pros and Cons
FxPro use next-generation trading technology with ultrafast communication times lower than 14ms for execution, as well as some of the tightest spreads seen on the market today.
One of many pros of trading with FxPro is the super tight spread of as little as 0.9 pips on more than 2100 different instruments. The technology that FxPro offers is unparalleled and implements high-quality solutions for your needs.
Trading software is the latest, including but not limited to MT4, MT5, cTrader, and a proprietary FxPro Platform with their own FxPro Trading App available on Android and iOS. All these reliable assets are well-rounded with multilingual customer service, and support teams ready 24/7. This also includes website live chat at any time.
However, we wouldn’t be an honest trading platform reviewer if our staff hadn’t pointed out some drawbacks.
International regulations apply to this brokering company. Regulating bodies include FCA for the United Kingdom, CySEC in Cyprus, South African FSCA, and Bahamas’ own SCB, yet FxPro offers differing conditions for various financial entities.
Some deposit methods aren’t available in some countries or regions, unfortunately. Education is also lacking when compared to the competition.
|Country of Regulation||UK, Cyprus, South Africa, Bahamas|
|Trading Fees Class||Low|
|Inactivity Fee Charged||Yes|
|Withdrawal Fee Amount||No|
|Time to Open An Account||Several minutes|
|Deposit with Bank Card||Available|
|Depositing with Electronic Wallet||Available|
|Number of Base Currencies Supported||8|
|Demo Account Provided||Yes|
|Trading Platform||MetaTrader 4&5, cTrader, FxPro Platform|
|Products Offered||Forex, indices CFDs, share CFDs, futures CFDs, crypto CFDs, CFDs on bonds, CFDs on valuable metals, CFDs on energy|
Is FxPro Regulated? License and Security
FxPro as a broker holds full licenses and is compliant with standards and rules set by multiple jurisdictional regulators.
FCA requires brokerage firms looking to start their business in the United Kingdom to invest no less than 750.000£ in order to start conducting business. The funds clients use are segregated and secure in different bank accounts which are further protected by additional security protocols. The broker is in this way prevented from misusing capital that isn’t in the company’s ownership.
The leverage restriction of 1:30 is an important regulatory standard in the UK that reduces loss risks. FxPro also offers negative balance protection, which ensures that a client can’t lose additional funds and prevents any debt that might ensue.
Similar conditions are imposed in Cyprus by CySEC. Because Cyprus is a part of EEA, additional MiFid rules will apply. Transactions are made transparent this way, which will ensure the client’s privacy protection.
South African FCSA enforces constraints akin to bodies mentioned previously, but SCB from the Bahamas has some more slack regulations where licenses are concerned.
Accounts Types Offered by FxPro
What distinguishes FxPro from other brokerage companies is that you may access all the features their platform is offering with any account you create. These are some of the good points to creating an account with this firm in particular:
- Account is quick and easy to open
- Account has low minimum deposit amount
- Islamic, as well as Micro accounts are available
- Demo account is available, and easily switched with Live account at any time
- They have access to a wide range of financial instruments
- Base currencies that the account supports are EUR, USD, GBP, AUD, CHF, JPY, PLN, and ZAR
What this means is that there are no unnecessary headaches when it comes to different choices of accounts and all the pros and cons of each and every one. This, in the end, is beneficial to the customer, and makes the choice when starting a business all that much easier.
In order to begin your trading experience, you need to deposit as little as $100. Depending on your location and the types of assets you wish to trade, leverage can be as little as 1:30 for EU clients. It may go all the way up to 1:200 for international investors.
Swap-Free accounts exist, as well as Raw Spread, and variable or fixed spread accounts are available.
Swap-free accounts are beneficial for Islamic traders who wish to trade under Shariah. Beginners and analysts should note that transitions from Demo and Live trading on your account is seamless and with no added consequences, so you may easily switch from doing actual work and practicing or studying the market.
This company does not charge any commission on withdrawals or deposits. This means that you won’t have to pay any extra fees when investing or collecting money from your account. You may deposit or withdraw currency from your account at any given time.
Trading Platforms Overview
FxPro allows for trading across all of the popular trading platforms, and also includes its own FxPro Trading Platform, with the same high-speed execution as the rest. These are some of the platforms offered:
- MetaTrader 4
- MetaTrader 5
- FxPro Trading Platform
Most investors today will instantly recognize MT4 as the longest-standing trading platform of choice, dominating the market for more than 15 years. FxPro is no stranger on the platform and offers both the beginner and the professional investor a plethora of features. These include competitive spreads and some of the lowest commissions on the market.
MT5, as a successor to the well-known MT4, is not just an improved version, but an entirely new trading platform. MT5 improves on user experience, with added features such as timeframes and strategy testers, more widgets, and additional indicators tailored to the needs of investors that are interested in trading more than just forex.
Another high-quality trading platform on the market is cTrader, with minimum delay entry and execution, paired with Level 2 pricing. Backend execution is cutting edge and topped with a user interface that is both easy to navigate and visually impressive. This software works on all operating systems and platforms, and on various devices such as tablets, smartphones and personal computers.
Proprietary software that is used exclusively by the company is of course FxPro Trading Platform. This application is also compatible with android, iOS and other operating systems. Developed especially for the modern competitive market, it offers advanced features created specifically to meet the client’s demands, all the while remaining convenient to use.
Trading Instrument Available at FxPro
Being an award-winning enterprise, FxPro is offering a large pallet of different instruments. Tradable assets are part of various categories.
Here is a look at different asset groups:
- More than 70 forex pairs with spreads from 0.9 pips and 1:200 leverage (EUR/USD, AUD/USD, GBP/USD, USD/CAD, USD/CHF, CAD/USD, EUR/JPY)
- CFDs on 25 Indices with leverage up to 1:50 (UK100, US30, Swiss20, Euro50, HongKong50, Germany40)
- Over 1000 global shares (Apple, Adobe, Chevron, Disney, Fox, General Motors, Honda, Nvidia)
- Over 25 CFDs on Metals with leverage up to 1:200 (Gold, Silver, Platinum, Palladium, Copper, Aluminium)
- CFDs on 30 Cryptocurrencies (Bitcoin, Ethereum, Dash, Litecoin, Ripple, EOS, Emercoin, Stellar, Polkadot)
- CFDs on over 20 global commodity and indices Futures with 1:200 leverage (Natural Gas, USOil, Cocoa, Cotton, UK100, US100)
Deposits and Withdrawals Methods
Making a deposit or a withdrawal for FxPro is possible through more than 15 channels that allow for great flexibility. Accounts update in less than 10 minutes for investing funds, and around 1 day for currency withdrawal.
The most popular funding methods at IC Markets are as follows:
- Credit/debit cards (Visa, MasterCard, Maestro)
- Wire Transfers
- Broker to Broker
- E-wallets (Neteller, Skrill, PayPal and more)
Once again a great benefit to users is that FxPro charges no deposit or withdrawal fees. Commission will be, however, charged by banks that process financial transfers.
Technological limitations apply when conducting any business, and various finance methods have different processing times for various payment types. For instance, E-wallet and card payments may be instantaneous but wire transfers take up to a day.
FxPro Customer Support
Support agents are available for FxPro customers 24/7 via either web live chat, return call or e-mail. There is no direct contact phone line, unfortunately.
- Live chat can be accessed through the FxPro website at any time
- Call back may be requested by providing your personal information on the site
- E-mail address is available, and an e-mail can also be sent through a form on the site as well
A client may access contact and other information about the company on their respective web site, under the “Contact Us” tab. This page contains addresses, landlines and fax numbers for all FxPro offices around the world. One can find their offices in London UK, Cyprus, Monaco, Bahamas, United Arab Emirates, and other locations.
FxPro Overall Summary
FxPro is a business that has been on the market for over 16 years and offers great conditions, advanced tools and instruments, and the latest technological solutions.
The firm is regulated on an international level and holds a trading license in many countries that enforce strict regulations such as the UK, Cyprus, and South Africa. Besides that, the company also holds a license in the Bahamas and has multiple offices around the world.
The broker offers some of the lowest spreads and lightest leverages on the market today. This is paired with top-notch business platforms such as MT4, MT5, and cTrader as well as their own FxPro Trading Platform. Customer support is available 24/7 and is there to answer your every question.
Beginners and experienced brokers alike should note that FxPro offers a great diversity of platforms and instruments, complete with demo accounts for learning and analysis, or Swap-Free accounts for Islamic traders.
FAQs About FxPro Broker
Is the FxPro Platform Reliable?
FxPro is a reliable, award-winning platform in business for over 16 years.
How Long Does a FxPro Withdrawal Take?
Depending on the payment method, it may be momentary or take up to a day.
Does FxPro Have a Live Chat Feature?
The Live Chat feature for customer support is available 27/7, all year round.
What Is the Minimum Deposit at FxPro?
The minimum deposit is $100, however, the broker charges no deposit or withdrawal fees.
Does FxPro Have a Mobile Trading Application?
FxPro has a proprietary mobile trading, FxPro Trading Platform application that meets clients’ needs for trading on their specialized markets.