FxPro is perhaps the world’s most awarded and most regulated broker. With a long history in the market, a sponsorship deal with the McLaren F1 team and Yacht Club de Monaco, FxPro, is one of the most well-marketed and recognizable brands. With well over a quarter of a million orders executed, to date, our FxPro review shows you why they are such a dominant force in the forex broker market.
FxPro is one of the best brokers in the world. They have executed over 250,000 orders at a rate of almost 7,000 orders per second. They have proven that they have the capability and robust infrastructure to cater to their clientele, as you will see, in this FxPro review.
Since its establishment in 2006, they have opened up offices in major cities around the world. They provide customer service 24/5, with some of the best reviews you can find on the internet.
Our FxPro review found that they offer both true ECN and ‘dealing desk’ access. As a trader, you can simply pick what you prefer. FxPro regulation is high, in multiple jurisdictions. They have a wide selection of platforms that work across multiple devices.
When it comes to tools of trade and research, they take the cake. Research is available for 6 different classes of instruments that span forex, indices, stocks, energies, and more.
FxPro has had great success. 2018 was a great year as they received awards that include ‘Best Forex Provider’ and ‘Best Forex Service Provider,’ among others. The previous year, FxPro was named ‘The Most Trusted Forex Brand’ by Global Brands Magazine.
The Financial Times and Investor Chronicle both crowned FxPro as the ‘Best Forex Trading Platform.’ When it comes to trust and recognizability, FxPro is a force to reckon with. Their excellence is why they are a partner to the McLaren Group, sponsoring the McLaren F1 Team.
By the end of this FxPro review, we will know all we need to know about the broker and how you can benefit from it.
FxPro Review
Pros
Cons
FxPro regulation is tight. In our FxPro review research, we have not come across a broker as highly regulated. They may be the most regulated broker in the industry. They have oversight provided in five different jurisdictions.
The regulators include:
With all these agencies looking at FxPro, clients can rest assured that any issues will be promptly taken care of. FxPro Group Ltd owns the FxPro brand. The brand has various subsidiaries to conform to every jurisdiction in which they operate. These subsidiaries include:
Let’s look at that in detail.
This subsidiary is based in Cyprus and falls under the regulation of the Cyprus Securities Exchange Commission (CySEC). They operate under license number 078/07. FxPro is part of the Investor Compensation Scheme to offer further protection.
Up to 20,000 euros protect clients trading with FxPro Financial Services Ltd in the event the broker becomes insolvent.
FxPro regulation by the FSCA started in 2015. Clients under FxPro Financial Services Ltd, are protected under the regulation of this body.
For clients trading with FxPro out of the UK, this is the subsidiary that handles their activity. It is registered under the UK’s Financial Conduct Authority. The registration number is 509956, which we checked for our FxPro review.
Clients of FxPro UK Ltd are protected under the Financial Services Compensation Scheme (FSCS). The scheme ensures a maximum compensation amount of 50,000 pounds if FxPro becomes unable to fulfill contractual obligations.
Clients in the Middle East can trade with FxPro under the regulation of the Dubai Financial Services Authority. The reference number is F003333.
FxPro Global Markets Ltd
International clients can trade under this subsidiary, and regulatory oversight comes from the Securities Commission of the Bahamas (SCB). The license number is SIA-F184.
In addition to all that, clients are further protected by measures like:
There is a high level of trust where FxPro is involved.
FxPro is an international broker with a diverse catalog of assets that you can trade. They cover 6 classes and include over 70 pairs in forex, over 20 futures, 7 metals, 3 energies, over 150 stocks/equities, and over 24 spot market indices.
Here is a table of some of the assets that you can trade when on FxPro.
The stocks are impressive, especially. They include others like AT&T, Ab&Fitch, Adidas, BTelecom, Boeing, AirbusGr, Barclays, Bayer, CocaCola, ExxonMobil, Facebook, FedEx, GlaxoSmithK, GoldmSachs, Google, Loreal, Motorola, PUMA, PapaJohns, Peugeot, WellFargo, Renault and many more.
METALS
Some of them include; GOLD, GOLDEURO, GOLDgr, GOLDoz, PLATINUM, SILVER, SILVEREURO.
INDICES
Some of the indices are; AUS200, Canada60, ChinaA50, ChinaHShar, Euro50, France120, France40, Germany30.
FOREX
FUTURES
Some of them are; cocoa, coffee, corn, cotton, EUR50, DJ30, GER30, JPN225, and others.
If you live in the UK, you will be able to do some spread betting as well. There are many markets you can participate in when you are on FxPro. The diversity of markets allows you to diversify your capital and make sure that you are protected if one of your investments does not come through according to your expectations.
There is something for everyone when you are on FxPro. There are several accounts available. So far, there are 3 different accounts built for each of the three platforms on FxPro. With these FxPro accounts, you can choose how to trade.
The FxPro accounts are as follows:
If you live in the UK, there is an option to open the FxPro Edge trading account. With it, you can invest in the markets by doing spread betting.
The FxPro minimum deposit is $100.
The following tables summarize most of what you need to know about the accounts and how they work:
With the FxPro Edge Account, UK traders have the unique opportunity to do some spread betting. Hopefully, this table about the FxPro accounts will help you choose which is most suitable for you.
FxPro gives clients multiple ways to deposit or withdraw. They support several popular options. Let’s look at them all closely so that you know what is available to you.
Bank transfers usually take one business day to complete for most banks. FxPro does not charge any fees for these transfers. However, the bank might charge their fees. Depending on the bank, the transaction could take 3 days sometimes.
Credit card transfers provide a certain type of efficiency that cannot be matched by banks. When it comes to withdrawals or deposits, you can be done the same day, when on FxPro.
The e-wallets supported here include: Neteller, Skrill, PayPal, and UnionPay.
FxPro, in a bid to make their transactions more efficient, came up with the FxPro wallet, to make transactions easier. The wallet is like a vault where you can securely and quickly, make transfers.
You can make withdrawals to your credit cards, bank, or other method supported on FxPro.
With all these options, it easy to see why the broker is regarded as one of the best in the market.
FxPro Mobile, Web, and Desktop Trading Platforms
FxPro platforms come in three types. We have FxPro cTrader, FxPro MT4, and FxPro MT5. There is also the newly launched Edge platform for UK spread betting clients. The MetaTrader platform is the most popular. It is developed and provided by MetaQuotes.
You do not have to worry about the reliability of these accounts.
Let’s look at the platforms and see what you get when you are at FxPro.
cTrader
cTrader may be a newcomer on the scene of globally recognized trading platforms, but it has rapidly acquired followers. The platform gives great market analysis and access to the full market depth.
Traders on the cTrader platform get the best available bid and ask prices from the most competitive institutions. Let’s look at some of the key features:
Because of the great market analysis, access to institutions and liquidity pools, and market depth, cTrader emerges as the leading platform in the world when it comes to ECN trading. With a clean user interface and highly customizable modules that you can drag, drop, or maximize, it offers an easy way to navigate.
When it comes to placing orders, you will have full control. There are options for market orders, stop orders, limit orders, and stop-limit orders. Once you place a trade, the window will give you an option to modify it.
You can place a new order and see the asset you traded on the chart. With that, you get full visibility of where your order is and what the outcome might be.
Trading by yourself can be hard. There may not be enough time to be on the terminal all the time. That is where automated trading comes in. Using cTrader, you can modify the coding language easily.
With the modifications, you can develop algorithms that work according to how you want them. You can develop EAs and deploy them.
However, to make such modifications, you will need to download the app and install in on your PC. You cannot make coding changes on other devices.
cTrader allows you to do past performance analysis with ease. You will have access to historical data and then get a picture of how you have been performing.
The cTrader software comes with many indicators: commodity channel index, Cyber Cycle, Detrended Price Oscillator, Momentum Oscillator, Price ROC, Rainbow Oscillator, MACD Crossover, and MACD Histogram, among others.
To check details for each asset, you can access this information quite easily from your interface. It gives you information like base asset, quote asset, minimum change, pip position, lot size, and the rest.
In addition to the software for PC, you can download a simple mobile platform for iOS and Android devices. You can trade straight from a browser using the Web platform developed for cTrader.
FxPro MT4
The MetaTrader 4 platform is available for download. Both Windows and Mac users can download and install it on their devices. With it, you will get features like:
It is an easy-to-use platform that offers traders everything they need. Presently, it is the industry standard that almost every broker provides.
FxPro MT5
The MetaTrader 5 platform is also available for download or use on the Web. Both Mac and Windows users can install it on their devices. This platform will give you access to additional features like:
MT5 is the same as MT4, but with added features aimed at appealing to new traders who have not had much training with MT4.
FxPro Web Trader from MetaTrader
Our FxPro review shows that traders have access to trade on MetaTrader 4 and MetaTrader 5 on the Web Trader platform. With this, the traders can access the platform directly from a browser, complete with ECN pricing.
On the Web Trader, the users will have:
For users of the Web Trader version, there is no need to feel like they may be missing anything by not installing the software. They get the same things that clients who have installed MetaTrader 4 or 5 get.
FxPro MT4 and MT5 on Mobile Devices
FxPro clients can download the Meta Trader 4 and Meta Trader 5 mobile apps. They are available on the Apple App Store if you are using the iOS devices or from Google Play Store if you are using Android devices.
Users can trade on these mobile apps on any supported devices. The apps have several features you get to enjoy. The design is such that you get the full functionality of the desktop software and Web Trader so that you do not miss anything.
With MT4 for mobile, you will have access to things like:
With MT5 for mobile, you can have
With the mobile trading apps, you never have to be worried that you might be missing anything.
FxPro Edge
Traders in the UK are allowed to do Spread Betting. For that reason, FxPro developed FxPro Edge. It is the ultimate platform that will allow the traders to take full advantage of competitive spreads and trade without being taxed.
FxPro Trading Features
FxPro has been in the market for more than ten years. Providing clients with the best trading tools is what makes them one of the best. Here, we will look at some of the benefits that you will have when trading with this broker.
Let’s look at the available leverages for the main assets on the entities across the world.
Apart from giving you the information you need to trade, you will also have access to tools that include an economic calendar and a blog.
Having these tools, like the calendar, will let you know when you have key events coming up. For fundamental traders, this information is valuable.
Among the many tools is an app developed by the broker. With Direct app, you can access accounts, make changes when you need to, and stay updated on market events and news.
On this calendar, you will sew which companies are releasing reports, so you know where to concentrate.
The usefulness of this tool cannot be understated. A glance shows you how the markets look. They summarize the movers and shakers with simple and appealing visuals. You can also look at your portfolio performance.
Other tools include the trading calculator and VPS hosting. All of these tools come together to ensure that you have the best experience.
FxPro is an ECN/STP broker. They have access to the interbank market. That is why the FxPro spreads are low, and they offer clients over 3,500 instruments for trading. The FxPro spread for EUR/USD, averages 0.1 pips.
Here is a table, showing this information in a summarized and simple way:
Note that the table does not display all the tradable items but just a few, to provide a clue about the nature of FxPro spreads:
At the time of writing this, the information provided in the tables was correct. To get the live-updated figures, visit the FxPro website and see the spreads. The only time you can expect a commission charge is when you are trading FX pairs and spot metals on the cTrader platform.
The charges per million USD traded is $45. If the base currency is not USD, the charge is converted to the alternate currency.
FxPro Bonus and Promotions
You will not find any FxPro bonus or promotional offer at the time of writing this. The FCA and CySEC subsidiaries are not allowed to offer promotions, bonuses, or incentives to lure customers to sign up or trade.
FxPro Customer Support
At FxPro, customer support is available 24/5. You can connect with the support team using Live chat, email, or telephone. You can do all this in multiple languages. They include:
Here are some of the telephone numbers for locations around the world:
The quickest and easiest way to get in touch is through Live Chat. In less than half a minute, you will get a response. The staff is well-trained and offered us relevant answers for our FxPro review.
FxPro Research and Education
When it comes to research, you will have a market summary of the daily news. There is a blog with additional information you can use. Let’s take a look at some of the tools provided by FxPro for research:
There are more tools for research.
As for education, FxPro seems to be lacking some of the provisions you might find on other broker websites. Our FxPro review consensus is that they probably assume that anyone ready to trade, has gone through education and doesn’t need a full course on it.
They do, however, provide basic levels of training. The material is in the form of short videos and short articles. They are best for beginner traders.
The prevailing sentiment is that you should learn as much about trading before you get into the markets.
FxPro Trading Experience
After finishing our FxPro review research, we concluded that they had given traders everything that they need to succeed. FxPro is a legitimate broker with clients who get wide-ranging tools that ensure they can maximize their opportunities.
The spreads are great, the platforms reliable, and the support, very comprehensive. The trading experience is nothing short of fulfilling.
You will get a variety of assets, a good selection of technology to help you, and charting packages. The research is not shallow, as they get into details every day, and a pro-trader will find it easy to trade here without having to rely on third-party news providers.
In Conclusion
FxPro gives clients an impressive array of assets, tools, and other needs that satisfy any trader. Our FxPro review reveals that they have won more than 70 awards. We counted:
This is only a shortlist of the many awards that they have won. As a market leader, FxPro is where you want to be when you are looking for the best forex broker. They have been performing well and will continue to perform well if they stay on the same trajectory.
Try them out today, using the demo account to see what benefits you can get.
