FX Pro Broker Review

FXPro_Broker Review

FX Pro is a brokerage firm that is a subsidiary of FX Pro Group Limited. The company was started in 2006 and has received over 70 prestigious awards.  They boast a capital of more than £1,000,000,

Although FX Pro does not provide Contracts for Difference (CFDs) to individuals living in the US, Canada and Iran, its platforms service trading options to users in over 173 countries.

As a brokerage firm, FX Pro offers online trading in 6 asset classes, such as Forex, Futures, Indices, Shares, Metals and Energies.

Its platforms process over 7,000 orders per second, making the transaction time around 11 milliseconds and ranking FX Pro amongst the brokers with the highest execution speeds.

Trading is swift so no assistance by a dealing desk is required. FX Pro’s trading process is fully transparent and its business model’s main purpose is to satisfy and aid its massive customer base.

 

Overview of FX Pro

Time to open an account Immediate, with 1 day for verification
Bonus NA
Publicly traded – listed on stock exchange No
Country of regulation FCA, CySEC, SCB, FSCA
Trust score 89
Platforms MetaTrader 4, MetaTrader 5, cTrader
Mobile App iOS, Android
Copy Trading No
Islamic account No
Demo account Yes
Base currencies USD, EUR, GBP, AUD, CHF, JPY, PLN
Ave spread EUR/USD 1.40 pips
Leverage Up to 1:500
Trading fees (low, average, high) average
Minimum deposit $100.00
Withdrawal fee $0
Currency pairs 69
Cryptocurrency trading No
Deposit with electronic wallet Yes

 

FX Pro Pros and Cons

✔️Pros ❌Cons
Variety of trusted and tested trading platforms Legal jurisdictions limiting some trading in the US, Canada and Iran
Multiple regulatory bodies

Client funds are in segregated accounts

Only CFDs and Forex

Inactivity fee

Great variety of trading tools
Reduced commissions charged
Many account types to choose from

 

Regulations

The regulatory and authoritative bodies for FX Pro are the:

  1. Financial Conduct Authority (FCA)
  2. Cyprus Securities and Exchange Commission (CySEC)
  3. Securities Commission of The Bahamas (SCB)
  4. Financial Sector Conduct Authority (FSCA)

 

FX Pro prioritizes the security of trader’s funds dealing with only the finest international banks that uphold reputable standards and values.

Funds are isolated from FX Pro’s business accounts, ensuring customer funds are kept safe and secure.

In addition to this safety catch-net, FX Pro is regulated and authorized by multiple renowned bodies to provide services to its customers.

 

Leverage

The country of trade, the trader’s seniority and the trading account will determine the maximum leverage ratios, which range between 1:2 to 1:500.

It is always good to keep in mind that, although there is a high-profit margin that comes with high leverage, there is a great deal of financial risk that comes with trading with leveraged deposits and the margin percentage that it incurs.

 

Account Types

To satisfy every need of its users, FX Pro has a large selection of accounts available:

MT4 Account:

  • Initial deposit: $100
  • Demo account offered for free
  • Allows algorithmic trading with EAs
  • Market Instruments are Forex spot indices, spot energies, spot metals, futures and shares
  • VIP services.

 

MT5 Account:

  • Initial deposit: $100
  • Allows algorithmic trading with EAs
  • Market Instruments are Forex, spot indices, spot energies, spot metals, and futures
  • Demo account offered for free
  • Micro accounts are available
  • VIP services

 

cTrader Account:

  • Initial deposit: $100
  • Market Instruments are Forex, spot indices, spot energies, and spot metals
  • Demo account offered for free
  • Allows algorithmic trading with EAs
  • Micro accounts available
  • VIP services

 

Market Instruments

There is an offering of over 260 CFD assets in 6 asset classes in the markets of Forex, Futures, Spot Indices, Shares, Spot Metals and Spot Energies.

FX Pro offers over 70 liquid currency pairs, along with tight spreads in global trading markets. Shares can be bought from more than 150 popular international brands and traders can explore the markets of commodities, metal and energy trading, without hassle.

 

Fee Structure

FX Pro charges commissions and spreads, depending on the type of account and instruments. The company acts responsibly and with transparency, so no hidden fees are charged.

The FX Pro MT4 account trades in Forex and metals with a spread mark-up and no commission on Futures, Shares, Indices or Cryptocurrencies.

The FX Pro MT5 account trades in Forex and metals, with a spread mark-up and no commission on Futures, Indices and Cryptocurrencies.

The FX Pro cTrader account trades in Forex and metals, costing $45 per $1 million traded upon opening and closing a position.

No commission is payable on Indices and Cryptocurrencies.

There is no charge for bank wire transactions and no commission fees are payable on trading.

If a position is held overnight, a market-related charge will be incurred for each swap or a rollover.

 

Deposits and Withdrawals

Funding your account and making withdrawals is convenient and secure withFX Pro. You can also transfer funds between your various trading accounts and your FX Pro wallet.

FX Pro accepts Bank Wire transfers, Mastercard, Visa, Maestro, American Express, PayPal, Neteller, Skrill and UnionPay.

For inter-broker transfers and bank transfers, the clearing window for deposits is within three to five business days.

There is no fee charged on deposits and withdrawals, but banking service fees may be applicable.

Accounts can be funded using AUD, GBP, CHF, USD, PLN, JPY, EUR, and both credit and debit cards from American Express, Mastercard, Visa and Maestro are accepted.

The funding transaction for withdrawals takes one day to be processed, while deposits take 10 minutes.

 

Trading Platforms

The key advantage of trading with FXPRO is the variety of supported platforms:

FX Pro EDGE:

offers both a mobile and a web application, that is downloadable from the Google Play Store.

The mobile app offers an interactive economic calendar. You may open an account and manage it via the app. You can withdraw, deposit and transfer funds and you will receive push notifications.

Sign-up is hassle-free and fast. The web app provides a portal to your FXPRO EDGE accounts and you can customize your dashboard by adding widgets, add-ons and gadgets.

 

MT4:

A user-friendly platform, providing dashboards across 21 timeframes.

It offers live analytics via its technical analysis and indicator toolset.

It also supports chart trading and limit orders. It is an easily operable interface where you may add your widgets and gadgets and is available for Android, iOS and desktop interfaces.

 

MT5:

Features and benefits of MetaTrader5 have advanced technical indicators and an innovative analysis toolset.

They offer live analytics on a multi-language platform.

You can add your gadgets and widgets to your dashboard and this platform is available on Android, iOS and via desktop.

 

cTrader:

offers competitive asking and bidding prices, taking advantage of the full depth of the market. There are no restrictions on the stop and limit levels.

 

How to Open an FX Pro Account

Signing up with FX Pro is easy and involves the following steps:

  1. Go to fxpro.com
  2. Register for an FX Pro Live account
  3. Fill in your details
  4. Submit requested documentation
  5. Use the FX Pro Direct account manager to fund your account
  6. You are now ready to trade!

 

Customer Support

FX Pro technical support for customers provides relevant feedback with swift responses in over 25 languages and is amongst the top teams in the Forex trading industry.

Customer service is available 24/5 and may be reached via telephone, call-back service, email or live chat. FX Pro has received a 5star rating for its support services.

 

Educational Resources

Basic tips and courses for beginners are designed to introduce new traders to the markets.

Other topics covered include the psychology behind trading and the essential aspects of evaluation and technical analysis, which are all provided at no charge to the user through the online forex trading platform.

FXPRO offers a comprehensive training program that covers all the aspects of trading in great detail. Education videos and tutorials can be used along with the courses to enhance the learning experience.

 

Research Tools

The FX Pro research pack is somewhat limited but it does supply sufficient information and guidance to aid traders in making informed decisions.

In addition to the service pack, FX Pro also offers market forecasts plus an economic calendar, listing dates and details of high focus financial events, as well as some history around these markets.

You will also be able to find the latest forex news and calculators on their website.

 

Accolades

FX Pro is an award-winning company, accomplishing more than 80 awards through the years. Some of these include but are not limited to:

  • Best Trading Platform by Forex Awards
  • Best FX Provider by Online Personal Wealth Awards
  • Best Tablet Application by Online Personal Wealth Awards
  • Most Trusted Forex Brand UK Global Brands Magazine
  • Best Forex Trading Platform by Investors Chronicle and Financial Times
  • Best Forex Trading Tool by SQFX
  • Best Automated Platform by International Finance Magazine Award

 

Conclusion

With over 15 years of excellent service, FX Pro provides an exceptional trading platform that has the sole purpose of offering its customer base a safe, trusted and convenient space to trade from.

They have been awarded over 80 prestigious UK and international awards and trade in over 170 countries, with nearly two million accounts created to date.

FX Pro offers more than 260+ Instruments and CFDs in asset classes for Forex, Shares, Futures, Spot Indices, Spot Metals and Spot Energies, along with a wide range of trading tools and compatibility with MetaTrader platforms.

The company is regulated by multiple bodies to protect its user base. FX Pro deals with integrity and pride, all its dealings are transparent, so this broker is a safe option for any trader.