Since its inception in 2006, the FxPro brokerage company has executed orders worth over 455 million. It also offers demo trading accounts along with free educational tutorials for new traders. As a well-recognized and well-established brokerage, FxPro is considered one of the top service providers globally. FxPro trading platform operates in over 170 countries while its head office is located in London, United Kingdom. FxPro enables trading CFDs and spread betting on a plethora of instruments like FX pairs, indices, futures, metals, among others. In this FxPro review, we will discuss the salient features, pros, and cons, fees, & more to analyze if it is a better fit for different trading styles or not.
|Product offered||Trading Platform, Forex Broker, Stocks|
|Minimum Initial Deposit||$100|
|Maximum Leverage||Varies With Platform|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Supported currencies||USD, EUR, GBP, AUD, CHF, JPY, PLN, and ZAR.|
|Customer Support||24/5 Support, Email, Phone, Live Chat, & Help Centre|
What Is FxPro?
FxPro is a trading platform offering state-of-the-art trading tools, high liquidity, and trading instruments. It is regulated by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), and Securities Commission of the Bahamas (SCB). FxPro also offers negative balance protection, making it a highly trustworthy and reliable FX broker. In fact, in 2017, FxPro was voted as UK’s most trusted Forex broker by Global Brands Magazines.
FxPro brokerage service offers different user account types for CFDs and spread betting. Ideal for both beginners and professional traders, FxPro has multiple security features and asset classes. Thus, trading CFDs with this provider makes for a better experience.
As per many user reviews, trading with FxPro is quite simple for new users, professionals, and also retail traders. FxPro offers trading robots that use technical analysis to ensure the execution of lucrative trades for both beginners and experienced traders. FxPro CFDs and spread betting platform also offers insights on trading conditions, charts, market price, etc for creating successful trading strategies.
FxPro platform has an easy-to-use interface, which makes for easy navigation and accessibility. Apart from the many trading tools and market signals, the platform also features valuable inputs from industry experts. FxPro is known to cover most of the Forex markets making it suitable for different trade requirements.
Features of FxPro
As per our research for FxPro review, it offers VPS or Virtual Private Server, which makes it an optimal MT5, MT4, and cTrader platform. In fact, the VPS allows traders the use of both algo bots and FxPro MT4 Expert Advisor or EA’s for investment advice. According to most of the trading communities and reviews, MT4, cTrader, and MT5 are optimal algorithms for advanced trading. Ideal for creating custom indicators and strategies, the FxPro MT5, MT4, and cTrader algos also enable backtesting of trading strategies.
Readers are advised to note. It is important to trade responsibly because CFDs typically come with a high risk of losing money rapidly owing to leverage. As a matter of fact, at least 72% of retail investor accounts lose money when trading complex instruments like CFDs. Hence, it is imperative to have an understanding of the working of CFDs.
Traders must always make a decision whether they can afford to take the high risk of trading in CFDs as there are chances of losing money. Based on this opinion, FxPro promotes responsible trading and showcases the risk involved via the disclaimer on the platform.
FxPro Trading Assets
FxPro offers a plethora of investment products. And, these include forex pairs, cryptocurrencies, equity shares, spot indices, futures, metals, stocks, and other commodities. The trading platform boasts of providing over 430 investment products to trade apart from CFDs and spread betting for a complete trading experience.
Trading features supported by the platform are easy to implement with the added advantage of forex calendar, market indicators, and other tools. Simply put, the trading features are designed to execute most trading styles and strategies. Apart from the aforementioned, FxPro features trading tools and services that will be discussed further in this review.
FxPro Margin Requirements
The margin requirement is a variable element with most brokers. That said, FxPro regularly updates the margin requirement on their official website. Traders can also calculate the requirements using the FxPro calculator by choosing the leverage, currency pair, trade size, and account currency.
FxPro’s Proprietary Platform: FxPro Edge
FxPro Edge is a customizable trading platform offering tax-free investment products across six asset classes exclusively for the residents of the United Kingdom. It is the proprietary platform of FxPro.
Traders can customize FxPro Edge to meet their trading needs as it has a simple widget-based UI. This platform enables a trader to trade directly from the ticker and chart offerings. Clients can also create custom trade setups. In fact, traders can access price alerts and over 50 technical indicators for a better trading experience.
Services Offered by FxPro
FxPro enables clients to trade over six asset categories including Forex, Futures, Indices, Metals, cryptocurrencies, and energies. Other than trading, FxPro offers a wealth of useful market information, educational resources, MetaTrader suit, proprietary trading platform, cTrader, economic calendar, etc.
FxPro is ideal for traders who are looking to diversify their cross-asset portfolio. The platform features more than 70 types of currency pairs. Operating on the NDD (no dealing desk) model, the broker has garnered quite popularity over the years. Yet another important aspect to consider when trading with FxPro is that the leverage offered varies and is determined by the type of instruments traded.
Is FxPro Regulated?
FxPro Group Limited is the holding company of all FxPro operations. Needless to say, the regulation and licensing of the trading platform vary according to the traders’ jurisdiction. For instance, FxPro Global Markets Ltd operates under SCB regulation. FxPro Financial Services Ltd is regulated by Cyprus Securities and Exchange Commission (CySec) and Financial Sector Conduct Authority (FSCA).
For UK traders, FxPro operates in compliance with the Financial Conduct Authority (FCA) regulation. FxPro Canada is regulated by the IIROC (Investment Industry Regulatory Organization of Canada.) Thus, many FxPro broker reviews deem it as a highly regulated and safe trading platform.
FxPro company boasts of having a credit rating of 95/100, indicating a lower risk of bankruptcy or default. Also, as per many reviews, FxPro is also associated with FSCS (Financial Services Compensation Scheme). This means traders may claim compensation if FxPro trading company were to become insolvent. Moreover, CFDs are complex instruments, thus, the stringent regulation and various security features make FxPro one of the reliable brokerages.
FxPro Review: Pros and Cons
|Access to multiple trading platforms like cTrader, MT4, MT5, etc.||High trading fees in comparison to other trading platforms.|
|Brokerage supports over 21 languages.||The educational section of the platform lacks information on the fundamentals of CFD and Forex.|
|Wide range of trading tools for seamless trading activity.|
|Globally regulated broker company via FSCA, CySEC, etc.|
|Over 430 products to trade including currency pairs, metals, stocks, cryptocurrencies, CFDs, etc.|
|Hassle-free demo account.|
|FxPro offers negative balance protection.|
FxPro Account Opening Process
Opening a FxPro trader account is quite simple. The visitor must provide details like country of residence, name, last name, email, etc.
After completing the registration process, the user is required to verify their email address. It is important for users to opt for 2FA password protection for added safety. The registered email address serves as the FxPro login ID.
While the account opening process is quite fast and seamless, visitors are expected to complete their KYC. Proof of residence and ID is a mandatory requirement for completing AML/KYC that may vary depending on the visitor’s location. Most of the sections can still be accessed without registration. However, AML/KYC compliance is a mandate for executing real-time trades or demo trades.
Types of FxPro Accounts
FxPro has three types of accounts to match the requirements of various traders, which are as follows:-
- Live Trading Account
Read More: Detailed Analysis Of The Broker!