FxPro Summary
FXPRO
FxPro Rating - 4.25/5
FxPro is a well-regulated ECN forex broker that offers forex and CFD trading. The broker is credible with licenses from several top-tier regulatory bodies plus it offers competitive trading fees and features. Below are quick links to the main sections of this Fxpro review which we feel will be helpful to help you navigate easily.
FXPro Introduction
This section covers everything about FxPro Broker’s supported countries, their customer service rating, trading platform, and trading accounts. This section provides the following information in this Alpari review.
- Supported Countries
- Customer Service Rating
- Platform Accessibility
- Accounts types
Trading Fees
This section covers all the trading information you need to start trading with FxPro broker, it provides the following information:
- Tradable Instrument
- FxPro Leverage
- Deposit & Withdrawal
- Trading Education
Company Structure
This section covers what all to know about the broker’s regulations and customer protection.
- Licenses and Regulation Compliance
- Customer Protection
FXPRO FOREX BROKER DESCRIPTION
FxPro launched in 2006 as a forex broker with the slogan "trade forex like a pro.” They became regulated by the FCA (UK) in 2010 and are regulated in the UK, South Africa, and the Bahamas. The broker offers forex trading services to hundreds of thousands of clients from over 170 countries.
Their main offers are Contracts for Difference (CFDs) on major assets such as forex, indices, metal, energy, shares, and futures. They recently introduced CFDs on sought-after asset cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
They offer support for MetaTrader 4, MetaTrader 5, and cTrader. They also offer their proprietary trading platform called FxPro Platform.
This FxPro broker review further explains all you need to know about this broker.
Supported Countries
FxPro offers CFDs and forex trading services in over 170 countries from all continents. Supported countries include the United Kingdom, Cyprus, South Africa, the Bahamas, and other countries from various continents.
However, there are regions where residents may not access FxPro trading services. The broker does not offer services to residents in the United States of America, the Islamic Republic of Iran, and Canada. They also do not operate in regions where their services would contradict local laws or regulations.
Other countries on the restricted list include Afghanistan, Bosnia and Herzegovina, Myanmar, Côte d’Ivoire, Cuba, Democratic People’s Republic of Korea (DPRK) (North Korea), Congo, Iran, Iraq, Liberia, Libya, Myanmar, Northern Mariana Islands, Palestine Occupied Territory, Puerto Rico, Somalia, Sudan, South Sudan, Syria, Tunisia, Trinidad and Tobago, Vanuatu, Yemen, and Zimbabwe. Citizens of these countries will have to go to supported regions before they can access FxPro services.
CUSTOMER SERVICE RATING
FxPro is rated “excellent” on Trustpilot with a 4.4 rating based on 321 reviews. Positive FxPro reviews praise the broker's support for trading bots and their reliable and affordable VPS service.
Other positive reviews mention the support for MT4 (MetaTrader 4) and the ability to make deposits using preferred methods. However, some user FxPro reviews show that there is room for improvement in terms of customer support.
FxPro Trading Platforms
FxPro broker supports MetaTrader 4, MetaTrader 5, and cTrader. It also offers its proprietary FxPro trading platform. These platforms are available for Android, iOS, and Windows devices.
FxPro
The Fx Pro Broker Platform allows clients to trade from charts and supports 1 click trading. It offers over 50 indicators, sound price alerts, 4 pending order types, detachable charts, and an integrated economic calendar. However, it does not support EA trading, trailing stop, or coding languages. Furthermore, it doesn't show the Depth of the Market (DoM) and market sentiments for minor currency pairs. It is available on iOS and Android.
MT4
MetaTrader 4 or MT4 offers a lot of features such as EA Trading, chart trading, 1 click trading, 30 indicators (you can add custom also), 4 pending order types, trailing stop, price alerts via sound email and notification, support for 37 languages and support for MQL4 coding language. On the other hand, it does not support an integrated economic calendar, market sentiments, or Depth of Market (DoM). It is available for PC, Mac, Android, laptop, Web, and Windows.
MT5
MetaTrader 5 offers all the features of MT5 and includes additional features such as Depth of Market (DoM), over 35 indicators, support for 49 languages, detachable charts, and support for MQL5 instead of MQL4. It is available for PC, Mac, Android, laptop, Web, and Windows.
cTrader
cTrader offers the most feature of the four available trading platforms on Fx Pro. The features include EA trading, chart trading, Depth of Market (DoM), 1 click trading, over 55 indicators, 6 pending order types, trailing stop (with advanced take profit and breakeven stop loss), market sentiments on major and minor pairs, support for 22 languages and C# coding language. It also provides an integrated economic calendar and detachable charts. The platform is accessible via Microsoft Windows 2008/7/8/10 operating systems.
Type of Trading Accounts on FxPro
Fx Pro Broker offers four trading account types: Standard, Pro, Raw+, and Elite.
Standard Account
The initial FxPro minimum deposit for this account is $100, and it offers up to 1:500 leverage. The charges for trading with this account come from an all-inclusive spread. If you are trading EURUSD, GBPUSD, or USDJPY, expect the spread to be 1.2 pips and above, while the average spread is 1.5. This account has no rebates; the minimum trade size is 0.01 lots. A swap-free option is available for Islamic investors.
Pro Account
The initial FxPro minimum deposit for the pro account is $1000, offering up to 1:500 leverage. The charges for trading with this account come from an all-inclusive spread. If you are trading EURUSD, GBPUSD, and USDJPY, the spread starts from 0.6, and the average spread is 1 pip. This account has no rebates; the minimum trade size is 0.01 lots. A swap-free option is available for Islamic investors.
Raw+
The FxPro minimum deposit requirement is $1000, and traders get up to 1:500 leverage. There is a 3.5$ fee, but the broker offers spreads starting from 0 pips. The average spread is 0.2 pips. There are no rebates, but your lot size has to start from 0.10. A swap-free option is available for traders on religious grounds.
Elite
The Elite Fx Trading Pro account has the highest deposit requirement ($30k in 2 months) and offers the same leverage, charges, and spreads as the Raw + account. Rebates for this account start from $1.5 per lot, and the minimum trade size is 0.10. A swap-free option is available for Islamic accounts.
Trading Denominations on FxPro
There are 8 distinct base currencies in which FxPro broker accounts can be denominated. These denominations are EUR, USD, GBP, CHF, JPY, PLN, AUD, and ZAR.
COMPANY STRUCTURE
FxPro Group Limited owns FxPro. Subsidiaries under FxPro Group Limited are FxPro Financial Services Limited, FxPro UK Limited, and FxPro Global Markets Limited. One of the subsidiaries, FxPro UK LTD, is a registered international trade supplier of ‘Invest In Great Britain and Northern Ireland’ by the United Kingdom Department For International Trade.
The group has its headquarters in the United Kingdom and offices in different continents worldwide. It maintains a staff force of over 200 employees and has won over 100 awards.
On many forex broker reviews, FxPro review articles hail it as one of the best forex brokers for beginners and cTrader users.
FxPro Licenses and Regulatory Compliance
FxPro Group Limited holds licenses in different regions via its subsidiary. These licenses include
• FCA (UK) license: FxPro UK Limited is authorized and regulated by the Financial Conduct Authority (registration no. 509956).
• CysEC license: FxPro Financial Services Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (license no. 078/07).
• SCB: FxPro Global Markets Limited is authorized and regulated by the Securities Commission of The Bahamas (license no. SIA-F184).
• FSCA: FxPro Financial Services Limited is authorized by the Financial Sector Conduct Authority ('FSCA') (authorization no. 45052).
• FxPro also has 28 EEA registrations. These include BaFin, registration no. 121095, ACPR, registration no. 72430 and CNMV, registration no. 1722
FxPro Customer Protection
FxPro considers the safety of client funds a matter of grave importance. All client funds are fully segregated from the company’s funds and warehoused in bank accounts in major European banks.
Their subsidiaries are also parties to various compensation funds designed as insurance for clients' funds. FxPro Financial Services Limited is a party to the Investor Compensation Fund (ICF), while FxPro UK Limited is a party to the Financial Services Compensation Scheme (FSCS).
TRADING INFORMATION
According to Fx Pro reviews, the platform allows clients to trade over 70 currency pairs and benefit from tight spreads and fast order execution. They also offer free deposits/withdrawals and competitive spreads.
Tradable Instruments
Tradable instruments on FxPro trading platforms include
70+ Currency Pairs.
20+ CFDs on Futures
18+ CFDs on popular Indices
2000+ Stock CFDs.
3 Energy CFDs
25+ Cryptocurrency CFDs.
FxPro Leverage
FxPro offers up to 1:500, but the exact leverage available depends on your jurisdiction and the instrument/platform you are trading with. You get more leverage when your volume per Instrument is low and more when it is high. See the table below.
Lots | Margin Requirement | Maximum Leverage |
0-150 | 0.20% | 1:500 |
150.01-200 | 0.50% | 1:200 |
200.01-300 | 1.00% | 1:100 |
300.01-500 | 2.00% | 1:50 |
500+ | 3.33% | 1:33 |
ZAR crosses - Max Leverage 1:100 CNH, ILS, THB & RUB crosses - Max Leverage 1:50 CZK, DKK & SGD crosses - Max Leverage 1:20 TRY & HKD crosses - Max Leverage 1:20 | ||
Deposits and Withdrawals
Deposits and withdrawals are free. However, bank transfers may attract a fee charged by the banks involved, not FxPro.
Deposits
The minimum initial amount is $1000, but clients with the Standard Account can deposit as little as $100. Deposit channels include Bank Wire transfers, Credit/Debit cards, PayPal, Neteller, Skrill, and other methods available per your country of residence.
Accepted Credit/Debit includes Visa, Visa Electron, Visa Delta, MasterCard, Maestro International, and Maestro UK. All deposits are credited automatically to your FxPro Wallet.
All clients may fund their wallets in USD, EUR, GBP, AUD, CHF, JPY, and PLN. Only clients of FxPro Financial Services Limited may fund in ZAR. Only clients of FxPro Global Markets Limited may fund in JPY.
Funding in a different currency will be converted to the client’s FxPro Wallet (Vault) currency upon receipt using the exchange rate at the time of the transaction.
Deposit Method | Minimum Deposit | Processing Time |
International Bank Transfer | $100 or $1000 | > 3 days |
SEPA and local transfers | $100 or $1000 | Same business day |
Other methods | $100 or $1000 | > 10 minutes |
*Please note that Bank transfer options are not available in all countries.
Withdrawals
FxPro requires that any recent card deposits be withdrawn to the card in question before you can withdraw via other methods. After refunding card deposits, you have to refund the PayPal and Skrill deposits before you can withdraw via bank wire or another e-wallet method.
Withdrawals are usually processed within a few hours during working hours and the next day if the request is made outside working hours. Unlike deposits, the withdrawal procedure takes longer.
Withdrawal Method | Processing Time |
Credit/debit cards | 5-7 working days |
International Bank Transfers | 3-5 business days |
SEPA and local bank transfers | up to 2 working days |
All other payment methods | 1 working day |
*There are rarely any withdrawal problems, as withdrawals can be processed automatically.
FxPro Trading Education and Training
Fx Pro broker offers a variety of video courses and articles for beginners and advanced traders.
The training modules are:
• Basics
• Fundamental Analysis
• Technical analysis
• Psychology
• Fundamental Analysis 2.0 (for advanced traders)
Desktop Trading Platforms
- Platforms Available: MetaTrader 4, MetaTrader 5, cTrader, FxPro Trading Platform.
- Features: Standard desktop trading experience, transparent pricing, trade execution.
- Charting and Analysis: Includes various indicators and studies.
- Limitations: No hedging on MetaTrader 5; conditional orders and customizable watchlists available.
- Additional Tools: Demo account (requires ID), news feed, access to Trading Central WebTV.
Mobile Experience
Rating: 4.2.
- Compatibility: iOS and Android; Touch ID login for Apple devices.
- Customization: Easy-to-customize watchlists, multiple lists possible.
- Alerts: Mobile price alerts with bid/ask options and custom messages.
- News: Streaming mobile news with major headlines.
- Orders: Supports market, limit, stop, stop-limit orders; option to set order expiry.
- Charting: Multiple time frames, trading indicators; direct trading from charts.
Mobile and Desktop Key Summary
FxPro offers a range of desktop and mobile trading platforms with essential features like charting, transparent pricing, and various order types. Limitations include no hedging on MetaTrader 5 and ID requirement for demo account access. The mobile app is highly rated for its security, customizability, and real-time news updates, enhancing the trading experience on the go.
FAQ
Is FxPro a Scam?
If you're worried about whether FxPro is a trustworthy forex broker, you don’t need to worry. FxPro is not a scam because local regulatory bodies have approved and are monitoring its trading services.
FxPro has also been around for over ten years and has built up a great reputation for providing reliable trading services. Based on our review, we found that it is regulated by multiple financial authorities in different countries, including the UK's FCA, Cyprus' CySEC, and the Bahamas' SCB. The many positive Fx Pro reviews from happy customers also collaborate the reliable services of the broker. With this kind of positive feedback and regulatory oversight, you can feel confident that your funds are safe.
How do I open a FxPro Forex trading account?
Visit FxPro and select "Register" on the top right corner of the home page.
How Much Does FxPro Charge for Withdrawal?
When it comes to withdrawing funds from FxPro, clients will be happy to know that they are not charged anything for the process. As stated in our FxPro withdrawal review, clients can withdraw their funds without any fees, that is $0 for withdrawal.
However, it's important to note that if you transfer funds to FxPro through a bank, there is a possibility that the bank may charge you fees.
Overall, FxPro provides a fair and cost-effective withdrawal process without any additional charges.
This is just one of the many reasons why FxPro has received positive reviews from clients around the globe. For more information about FxPro and its services, be sure to check out FxPro review.
What is the FxPro Minimum Deposit?
If you're interested in FxPro trade and are wondering about the minimum deposit required to start trading, you should know that FxPro has a requirement of at least $100. This means that you'll need to fund your account with this amount after you have registered and verified your account.
It's important to note that this minimum deposit is necessary to start trading with FxPro, so if you're not able to meet this requirement, you will not be able to start trading with them. Keep in mind that FxPro offers various account types and funding options, so you can choose the one that best suits your trading needs.
How Long Does FxPro Deposit Take?
When it comes to depositing funds into your FxPro account, the timeframe may vary depending on the payment method you choose. If you opt for an international bank transfer, the process may take a bit longer, typically around 3-5 business days.
However, if you select any other payment method, such as credit card or e-wallet, you can expect the funds to be credited to your account in approximately 10 minutes.
Keep in mind that the exact duration may also depend on your bank's policies. For more information on FxPro and its deposit process, check out the deposit and withdrawal section of our FxPro review.
Is FxPro International?
FxPro is an international broker that caters to clients in many countries. With a presence in 173 countries, FxPro is a reliable and secure forex and CFD trading broker. It has been providing online trading services to clients since 2006. FxPro caters to retail and institutional clients and has expanded successfully since its establishment.
The broker, FxPro, can operate in multiple jurisdictions due to its multiple licenses via its subsidiaries. FxPro UK Limited is regulated by the FCA since 2010, FxPro Financial Services Limited is regulated by the CySEC since 2007 and by the FSCA since 2015, and FxPro Global Markets Limited is regulated by the SCB. As a whole, it currently serves 173 countries worldwide.
Is FxPro a true ECN?
Yes, FxPro is a true ECN broker that operates on a No Dealing Desk Execution model. This means that they execute client orders without interference from a dealing desk, ensuring a fair and transparent trading experience for their clients. They use an ECN model that involves anonymous communication between executing counterparties, which is supported by a liquidity provider.
It's worth noting that ECN trading may not always offer the best pricing for retail traders, and there are no guarantees for fills. In general, based on the feedback from FxPro ECN reviews, it can be concluded that FxPro is a true No Dealing Desk Execution broker.
CONCLUSION
FxPro is a reputable international FX and CFDs broker. Our FxPro review has broken down how this broker provides thousands of trading instruments, supports multiple platforms, and offers other features to make it perfect for beginners and advanced traders. It is also one of the few brokers that supports cTrader, which makes it a perfect choice for people who prefer to trade using the cTrader platform.
The broker also offers competitive spreads, zero fees on deposits and withdrawals, and a very profitable affiliate program.
