WHO IS FXPRO?
FXPRO is a brokerage firm that is a subsidiary of FXPRO 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 FXPRO 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, FXPRO 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 FXPRO amongst the brokers with the highest execution speeds.
Trading is swift so no assistance by a dealing-desk is required. FXPRO’s trading process is fully transparent and its business model’s main purpose is to satisfy and aid its massive customer base.
|Time to open an account||Immediate, with 1 day for verification|
|Publicly traded – listed on stock exchange||No|
|Country of regulation||FCA, CySEC, SCB, FSCA|
|Platforms||MetaTrader 4, MetaTrader 5, cTrader|
|Mobile App||iOS, Android|
|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|
|Deposit with electronic wallet||Yes|
FXPRO REVIEW OF PRO AND 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
|Great variety of trading tools|
|Reduced commissions charged|
|Many account types to choose from|
IS FXPRO SAFE?
The regulatory and authoritative bodies for FXPRO are the:
- Financial Conduct Authority (FCA)
- Cyprus Securities and Exchange Commission (CySEC)
- Securities Commission of The Bahamas (SCB)
- Financial Sector Conduct Authority (FSCA)
FXPRO prioritizes the security of trader’s funds dealing with only the finest international banks that uphold reputable standards and values.
Funds are isolated from FXPRO’s business accounts, ensuring customer funds are kept safe and secure.
In addition to this safety catch-net, FXPRO is regulated and authorized by multiple renowned bodies to provide services to its customers.
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.
To satisfy every need of its users, FXPRO has a large selection of accounts available:
- FXPRO Metatrader 4 Account – Initial deposit: $100, Demo account offered for free, Allows algorithmic trading with EA’s, Market Instruments are Forex, spot indices, spot energies, spot metals, futures, and shares, VIP services.
- FXPRO Metatrader 5 Account – Initial deposit: $100, Allows algorithmic trading with EA’s, Market Instruments are Forex, spot indices, spot energies, spot metals, and futures. Demo account offered for free. Micro accounts are available. VIP services.
- FXPRO 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 EA’s, Micro accounts available, VIP services.
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.
FXPRO 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.
FXPRO 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 FXPRO MT4 account trades in Forex and metals with a spread mark-up and no commission on Futures, Shares, Indices or Cryptocurrencies.
The FXPRO MT5 account trades in Forex and metals, with a spread mark-up and no commission on Futures, Indices and Cryptocurrencies.
The FXPRO 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.
DEPOSIT AND WITHDRAWAL
Funding your account and making withdrawals is convenient and secure with FXPRO. You can also transfer funds between your various trading accounts and your FXPRO wallet.
FXPRO 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.
The key advantage of trading with FXPRO is the variety of supported platforms:
- FXPRO 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 – platform is 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 a 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 ACCOUNT WITH FXPRO
Signing up with FXPRO is easy and involves the following steps:
- Go to fxpro.com
- Register for an FXPRO Live account
- Fill in your details
- Submit requested documentation
- Use the FXPRO Direct account manager to fund your account
- You are now ready to trade!
FXPRO 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. FXPRO has received a 5star rating for their support services.
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.
The FXPRO 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, FXPRO 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.
FXPRO 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
With over 15 years of excellent service, FXPRO 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.
FXPRO 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. FXPRO deals with integrity and pride, all its dealings are transparent, so this broker is a safe option for any trader.