FxPro is a highly-regarded Forex and CFD broker with over 15 years of experience in the industry. Here are some key points to know about FxPro:
FxPro: Upgrade your Trading with the world's best broker.
Founded in 2006, FxPro is a safe and low-risk option for trading forex and CFDs.
Regulated in one tier-1 jurisdiction and two tier-2 jurisdictions, FxPro offers a variety of pricing options across its account types, including fixed and variable spreads.
FxPro is best known for its MetaTrader and cTrader platform offerings, available for desktop, web, and mobile.
FxPro offers a range of investment products for clients, including over 400 CFDs, including forex, shares, indices, metals, and cryptocurrencies.
FxPro's most competitive spreads are available on its cTrader platform, which features commission-based pricing. The effective spread for trading the EUR/USD pair on cTrader is roughly 1.27 pips.
FxPro offers its traders three different platforms for trading, which are FxPro Edge, cTrader, and MetaTrader.
FxPro is regulated by several reputable financial regulatory bodies in different jurisdictions where it operates, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
FxPro offers 24/5 customer support in over 20 languages and provides its clients with a range of payment options, including credit/debit cards, bank transfers, and various e-wallets.
FxPro provides daily market updates and analysis on its blog, along with content from third-party providers. The broker also has an integrated economic calendar.
FxPro also offers a mobile app, the FxPro app, which allows traders to manage their accounts, funds, and trades all in one place. For desktop trading, FxPro EDGE provides a customizable interface and advanced trading widgets, over 50 technical indicators and charting tools, detachable chart windows, and six chart types with various time frames.
FxPro Trading Platforms
At FxPro, traders are offered a diverse range of trading platforms to choose from, totaling to four platforms.
The first platform, FxPro MT4 (MetaTrader 4), is widely recognized as the industry standard forex trading platform due to its comprehensive range of integrated tools and features. Supporting multiple languages, users can customize the interface with their preferred language, and the platform is capable of executing multiple order types. The platform's automated trading feature is its most significant feature, allowing traders to program the platform to execute trades based on pre-set trading parameters using Expert Advisors (EAs). The FxPro MT4 platform is considered the most crucial platform for the broker, as it provides clients with in-depth market information.
Its successor, the FxPro MT5 platform, is an upgraded version of the MT4 platform, offering additional features.
For traders who wish to trade with raw spreads, the FxPro cTrader platform is provided. This platform allows traders to access spot markets using interbank rates, facilitating efficient ECN trading.
Finally, the FxPro Markets platform is ideal for traders who want to trade directly from their desktop or tablet without any downloads. This platform allows for multitasking within the platform, providing an efficient trading experience.
FxPros Trading Fees
FXpro has low trading fees in general, and their fees have been ranked as low.
Their forex fees are average, and commissions and spreads for individual currency pairs are charged as per the table below:
For EURUSD, the fees are built into the spread, and the average spread cost during peak trading hours is 1.71 pips for MT4 accounts.
For GBPUSD, the fees are built into the spread, and the average spread cost during peak trading hours is 2.52 pips for MT4 accounts.
FXpro's CFD fees are low, and commissions and spreads for different assets are charged as per below:
For S&P 500 CFD, the fees are built into the spread, and the average spread cost during peak trading hours is 0.6 points.
For Europe 50 CFD, the fees are built into the spread, and the average spread cost during peak trading hours is 1.25 points.
For Apple CFD, the fees are built into the spread, and the average spread cost during peak trading hours is 0.62.
For Vodafone CFD, the fees are built into the spread, and the average spread cost is 0.75.
FXpro's financing rates are low, and they make up a significant part of your trading costs if you hold your position for a long time.
In addition to trading fees, it's important to check if FXpro charges a fee on deposits, withdrawals, account maintenance, and inactivity. Their non-trading fees are as follows:
Deposit fee: $0
Withdrawal fee: $0
Account fee: No
Inactivity fee: Yes
Overall, FXpro's fees are generally low or average compared to other brokers, making them a competitive choice for traders.
Is FxPro a reliable broker?
FxPro is a trustworthy broker, with a counterparty credit rating of 96 out of 100, indicating a low risk of default or bankruptcy. Additionally, the broker participates in the Financial Services Compensation Scheme (FSCS), allowing clients to claim compensation in case of insolvency.
Can FxPro be used in the United States?
No, FxPro is not currently available in the United States.
Is FxPro suitable for beginners?
FxPro may not be the best choice for beginners, as it is better suited for those who are more advanced and experienced in trading.
What is the minimum deposit required for FxPro?
You can make deposits as low as $100.
How does FxPro's minimum deposit compare to other brokers in the industry?
FxPro's minimum deposit is competitive compared to other brokers in the industry. The minimum deposit varies depending on the account type, with the lowest minimum deposit being $100 for the FxPro Edge account.
What is the maximum leverage offered by FxPro?
FxPro offers maximum leverage of up to 1:500 on certain account types, which is higher than many other brokers in the industry. However, it's important to note that higher leverage also comes with higher risk.
What trading platforms does FxPro offer?
FxPro offers a variety of trading platforms, including MetaTrader 4 and 5, cTrader, and FxPro Edge. Each platform offers unique features and capabilities to cater to different trading styles and preferences.
Does FxPro offer negative balance protection?
Yes, FxPro offers negative balance protection to its clients. This means that clients' account balances cannot go below zero, even in the event of significant market volatility or unexpected market movements.
What is FxPro's policy on slippage?
FxPro has a no-slippage policy for market and instant execution orders. This means that the price at which the trade is executed will be the same as the price displayed at the time the order was placed, even if there are sudden market movements. However, slippage may still occur in certain market conditions or during periods of high volatility.
FxPro Reviews from Trustpilot.com
The broker's demo account is truly exceptional, allowing me to familiarize myself with all the intricacies of the company without any risk or cost. As someone who wants to improve my trading skills while keeping costs to a minimum, this feature is a huge plus. What's more, the broker's relatively low minimum deposit requirement is a welcome relief, especially when compared to other top-tier forex brokers with higher thresholds.
While many traders and clients of Fxpro prefer the MetaTrader or cTrader platforms, I belong to a different group of traders who believe that the broker's proprietary platform is the best. I find it easy to use, reliable, and intuitive, and it has all the features I need to make informed trading decisions.
I have been with FxPro since 2019 and have tried numerous brokers since 2013, but I have stuck with this broker because it is simply the best. As a swing trader, I find the spreads to be reasonable, and the absence of commissions is a huge plus. FxPro also offers an Islamic swap-free account, which suits my needs perfectly. The withdrawal process is hassle-free, and I appreciate the local bank transfer option, which offers favorable conversion rates. Overall, I am very happy with FxPro and plan to stay with them for a long time.
I used to focus solely on forex products and was an okay trader, but I knew I needed to diversify my portfolio to increase my earnings potential. Thanks to FxPro, I have been able to explore new assets, platforms, perspectives, and strategies, and I have learned a lot in the process. I am now more confident and well-rounded as a trader, and I owe it all to this broker.
FxPro caters to both beginners and seasoned traders alike, which is one of the things that sets it apart from other brokers. It offers an environment that allows traders to grow and improve, regardless of their level of experience. From newbies to serious seasoned traders, FxPro provides the tools, resources, and support necessary to achieve success.
The services advertised are intended for eligible recipients only. Trading CFDs may be subject to local regulations in your jurisdiction. FxPro Group Limited is the holding company of FxPro Financial Services Ltd, FxPro UK Limited and FxPro Global Markets Ltd. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration no. 509956). FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 078/07) and authorised by the Financial Sector Conduct Authority (‘FSCA’) (authorisation no. 45052). FxPro Global Markets Ltd is authorised and regulated by the SCB (license no. SIA-F184).