Complete FXPro Review 2022 - Benefits and Drawbacks Revealed

Since its founding in 2006, the FxPro brokerage firm has completed transactions totaling more than $455 million. It also provides free instructional seminars and sample trading accounts to novice traders. FxPro, being a well-known and well-established brokerage, is regarded as one of the world's top service providers. The FxPro trading platform is available in over 170 countries, with its headquarters in London, United Kingdom. FxPro offers CFDs and spread betting on a wide range of assets, including currency pairings, indices, futures, and metals. In this FxPro review, we will look at the key features, pros and disadvantages, fees, and more to see whether it is a good match for various trading types.

What Exactly Is FxPro？

FxPro is a trading platform that provides cutting-edge trading tools, high liquidity, and trading instruments. It is governed by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA), and the Bahamas Securities Commission (SCB). FxPro also provides negative balance protection, making it a very reputable and dependable FX broker. In fact, Global Brands Magazines named FxPro the UK's best trusted Forex broker in 2017. You can learn more about the finest forex brokers in the United Kingdom.

The FxPro brokerage business provides many customer account types for CFDs and spread betting. FxPro includes a wide range of security features and asset classes, making it suitable for both novice and experienced traders. As a result, trading CFDs with this supplier provides a superior experience.

According to several user evaluations, trading with FxPro is straightforward for new users, pros, and retail traders alike. FxPro provides trading robots that employ technical analysis to guarantee profitable trade execution for both novice and expert traders. FxPro CFDs and spread betting platforms also provide information on trading conditions, charts, market price, and other factors that may be used to develop effective trading strategies.

The FxPro platform includes an easy-to-use interface that allows for quick navigation and access. Aside from a plethora of trading tools and market indications, the site also includes useful information from industry professionals. FxPro is well-known for covering the majority of the Forex markets, making it appropriate for a variety of transaction needs.

FxPro Advantages

According to our study for the FxPro review, it provides VPS or Virtual Private Server, making it an ideal MT5, MT4, and cTrader platform. The VPS enables traders to employ algo bots as well as FxPro MT4 Expert Advisors, or EAs, for investment guidance. Most trading groups and evaluations agree that MT4, cTrader, and MT5 are the best algorithms for advanced trading. The FxPro MT5, MT4, and cTrader algos are ideal for generating bespoke indicators and strategies, and they also allow backtesting of trading techniques.

Readers should take attention. It is important to trade safely since CFDs have a significant risk of losing money quickly due to leverage. When trading complicated products such as CFDs, at least 72% of retail investor accounts lose money. As a result, knowing the operation of CFDs is critical.

Traders must constantly consider if they can afford to face the high risk of trading in CFDs, since there is a possibility of losing money. According to this viewpoint, FxPro supports prudent trading and highlights the risks associated via the platform's disclaimer.

Trading Assets at FxPro

FxPro provides a wide range of financial solutions. Forex pairings, cryptocurrencies, equity shares, spot indices, futures, metals, stocks, and other commodities are among them. Apart from CFDs and spread betting, the trading platform claims of offering over 430 investment items to trade for a comprehensive trading experience.

The platform's trading capabilities are simple to use, with the additional benefit of a forex calendar, market indicators, and other tools. Simply expressed, the trading elements are intended to carry out the majority of trading styles and tactics. Aside from the aforementioned, FxPro offers trading tools and services, which will be covered in more detail later in this review.

Margin Requirements for FxPro

With most brokers, the margin requirement is a variable. Having stated that, FxPro's official website is routinely updated with the margin required. Traders may also use the FxPro calculator to compute the requirements by selecting the leverage, currency pair, transaction size, and account currency.

FxPro Edge is a proprietary platform developed by FxPro.

FxPro Edge is a customisable trading platform that offers tax-free investment solutions across six asset classes to UK residents only. It is FxPro's proprietary platform.

Because FxPro Edge includes a simple widget-based UI, traders may adapt it to match their trading requirements. A trader may use this tool to trade straight from the ticker and chat services. Clients may also design their own trading configurations. For a better trading experience, traders may use price alerts and over 50 technical indicators.

FxPro Provides Services

FxPro allows customers to trade in six asset classes: Forex, Futures, Indices, Metals, Cryptocurrencies, and Energy. Aside from trading, FxPro provides a variety of market information, instructional materials, a MetaTrader outfit, a custom trading platform, cTrader, an economic calendar, and so on.

FxPro is great for traders wishing to diversify their multi-asset portfolio. The program supports over 70 different currency pairings. The broker, which operates on the NDD (no dealing desk) approach, has grown in popularity over the years. Another thing to keep in mind while trading with FxPro is that the leverage available varies and is influenced on the kind of products traded.

Is FxPro a regulated platform？

The parent entity for all FxPro businesses is FxPro Group Limited. Needless to add, the trading platform's regulation and license differ depending on the traders' jurisdiction. FxPro Global Markets Ltd, for example, is governed by the SCB. Cyprus Securities and Exchange Commission (CySec) and Financial Sector Conduct Authority (FSCA) regulate FxPro Financial Services Ltd. (FSCA).

FxPro complies with Financial Conduct Authority (FCA) regulations for UK traders. The IIROC regulates FxPro Canada (Investment Industry Regulatory Organization of Canada.) As a result, many FxPro broker reviews consider it to be a highly regulated and secure trading platform.

FxPro has a credit rating of 95/100, suggesting a lesser chance of bankruptcy or default. According to various evaluations, FxPro is also linked to FSCS (Financial Services Compensation Scheme). This implies that traders may seek compensation if the FxPro trading firm goes bankrupt. Furthermore, since CFDs are complicated products, FxPro is one of the most dependable brokerages, thanks to tight regulation and a variety of security measures.

FXPro Advantages and Disadvantages

Pros

• Access to many trading platforms such as cTrader, MT4, MT5, and others.

• Over 21 languages are supported by Brokerage.

• A diverse set of trading tools is available to ensure smooth trading activity.

• Globally regulated broker firm through FSCA, CySEC, and others.

• There are over 430 trading items available, including currency pairings, commodities, equities, cryptocurrencies, CFDs, and so on.

• No-hassle demo account.

• FxPro protects against negative balance.

Cons

• Trading costs are high in compared to other trading platforms.

• The platform's instructional part is deficient in information on the foundations of CFD and Forex trading.

Opening an Account with FxPro

It is quite easy to open a FxPro trading account. The visitor must submit information such as their country of residence, name, last name, email address, and so on.

The user must validate their email address after finishing the registration procedure. For enhanced security, users should use 2FA password protection. The FxPro login ID is the registered email address.

While the account opening procedure is quick and easy, visitors must complete their KYC. Proof of residency and identification are required for completing AML/KYC, which may differ based on the visitor's location. The majority of the parts are still accessible without registering. However, AML/KYC compliance is required when doing real-time or demo transactions.

FxPro Account Varieties

FxPro offers three kinds of accounts to meet the needs of different traders, which are as follows:

VIP Account Live Trading Account Professional Trading Account

Trading Account in Real Time

Live trading accounts, also known as retail investor accounts, provide you access to over 400 tradable instruments. Leverage is limited to 30:1 and 200:1 in this account type. The real trading account allows you to use MT4, MT5, and cTrader. The deposit minimum is $100. It is great for novice traders or those who are just starting out.

Account for Professional Trading

The professional account, as the name implies, is for experienced traders. Traders must qualify for this account type by completing a market knowledge exam. A professional trading account protects against negative balances and provides up to 500:1 leverage.

Account VIP

VIP trading accounts provide several benefits such as increased trading volumes, unlimited access to VPS, and so on. Commissions are also reduced by 30% for cTrader platform account holders. Market spreads may also be reduced by up to 30% for clients.

Users should be aware that since CFDs are high-risk products, ordinary investor accounts lose money while trading them. As a result, before selecting any of the trading account types, it is critical to understand how markets function.

Trading Platforms by FxPro

FxPro provides the majority of the main trading platforms, including MetaTrader 4 (MT4), cTrader, and the newest MT5. In contrast to other brokers, FxPro's forex trading interface is above the industry average. As a result, traders may choose the platform that best suits their needs.

One distinguishing element of all three platforms is that they all have the same minimum deposit limit of $100 USD. In terms of spreads, the cTrader platform has the lowest spreads, whereas the MetaTrader 4 platform has fixed spreads. As a result, traders may choose a user account based on the sort of spreads they are interested in.

Each platform has unique features that traders may utilize to meet their trading needs. For example, if a trader wants no constraints on stop loss or limit order levels, they may use cTrader.

MetaTrader Application

The FxPro Metatrader suite is comprised of the MT4 and MT5 platforms. Creating a user account with FxPro gives you access to both MT4 and MT5, which offer different capabilities.

MetaTrader 4 or MT4 Platform

Traders may access the FxPro MetaTrader 4 trading platform through a web browser or a Windows or Mac desktop computer. FxPros MT4 provides traders access to trade charts where one can view up to nine timeframes.

MT4 offers up to 50 technical indicators to clients depending on the type of account. It also enables the use of custom indicators and EAs (trading bots.) However, MT4 has certain restrictions on stop loss and limit orders.

MetaTrader 5 or MT5 Platform

Similar to MetaTrader 4, MT5 is available via web browser for both Windows and Mac. However, unlike the former, MT5 enables clients to access over 21 timeframes and multiple order types. FxPros MT5 also allows traders to simultaneously open up to 100 chart types. Thus, clients can have access to information on multiple markets at any given time.

cTrader Platform

FxPro cTrader is available for download for Windows desktop. Unlike MT4 and MT5 platforms, cTrader has no restrictions on stop loss and limit orders. The cTrader platform also offers in-depth market research and covers most of the markets. Another highlight of FxPros cTrader is that orders are filled in a matter of milliseconds. FxPro spreads enable scalp trading.

Apart from offering the above-mentioned platforms, FxPro has a trading platform that is accessible via a web browser. The FxPro platform offers more than 50 technical indicators and a variety of charting tools. The platform provides 6 chart types and up to 15 timeframes. It also enables the trader to customize the layout.

FxPro Demo Account

Demo accounts are ideal for designing strategies and also for backtesting them. It allows traders to practice trades without investments and is an essential tool to understand how the different markets work.

Tools Offered by FxPro

As one of the end-to-end forex brokers and facilitators of trades on CFDs and spreads, FxPro is equipped with advanced tools and resources designed for both new traders and professionals. During our research for this FxPro review, we received positive reviews from existing users who found these tools useful for a lucrative trading experience. Enabling informed trading decisions is a FxPro advantage backed by educational resources, charting tools, news, and other market information.

Education Tools

Both basic and advanced materials for new traders and professionals respectively are offered in the Education section of the FxPro brokerage firms website. Clients can access their extensive video library designed to provide end-to-end information on trading. This section aims to enable traders to make informed decisions for a better trading experience.

As per the FxPro review, the education section is divided into the following for hassle-free access:-

• Basics

• Fundamental Analysis

• Technical Analysis

• Psychology Trading Tests

• Video Tutorials

• Webinars and Events

Basics

As the name suggests, this section is ideal for beginners for garnering the fundamentals of trading, CFDs, spreads, tradable instruments, trade sizes, volumes, etc. Visitors can open a demo account after completing this level by creating their FxPro login ID.

Simply put, this section offers free online basic forex courses where most of the key topics are explained in simple terms with the aid of interactive cards. All these cards contain illustrations to enhance the learning experience. Exclusively designed for new traders, the courses provide a basic understanding of the financial markets.

The Basics section also offers self-checking online tests for self-assessment to help users gauge their basic forex skills. In fact, upon passing the online tests, users can also download the study materials for future use.

Fundamental Analysis

The fundamental analysis courses in the education section help traders understand how to use the economic calendar, news feeds, price chart fluctuations, etc for executing profitable trades. This section also helps users garner knowledge on opening and closing trade positions at the right time. And, this is of utmost importance as timing is very important to ensure profits.

Technical Analysis

This section is ideal for beginners who already understand the fundamentals of trading. It helps them garner advanced knowledge related to trading. Investment advice helps in executing profitable trades and having the technical knowledge helps strategize better. Users can directly refer to this section if they understand the basics of trading.

Similar to the basics and fundamental courses, the technical analysis courses are divided into various topics or cards with illustrations.

Psychology

Sometimes, even the most experienced trader misses out on a profitable trade fearing losses. It is thus important to have a neutral mindset as it helps traders make informed decisions where emotions are not involved. Users can self-assess by taking up these online tests to gauge their progress.

Trading Tests

While all the courses in FxPro education are interactive, it is still important to self-check or assesses one‘s understanding. These trading tests are the means to ensure the trader’s confidence. All the sections like basics, fundamentals, etc feature these tests such that traders are ever-prepared to face market fluctuations and uncertainties.

Video Tutorials

The video tutorials are for both beginners and advanced traders. This section is regularly updated to ensure traders are well aware of significant market changes. Traders who lack the time to visit the course materials can make the most of these video tutorials. While this may help, the videos are limited in terms of challenges where professional traders are concerned.

Webinars and Events

Registration may not be necessary to access the educational courses, however, it is mandatory for the webinars and events. Upon registration, which entails creating a FxPro user account, the account holder is provided access to FxPros YouTube channel.

FxPro Leverage

As stated earlier in this FxPro review, the leverage varies, which is determined by the asset traded. It also depends on the type of account. For instance, the professional and VIP accounts offer high leverages. In the case of the basic account type, also known as retail account the leverage is 30:1 and 200:1. The professional account type offers leverage of 500:1.

FxPro Fees

FxPro, like many other brokers, does not charge commissions on most deals. Similar to most online brokers, FxPro charges trading fees for certain types of assets. They also charge non-trading fees. Typically, the trading fee structure varies and is determined by the type of product, trade size, among others.

Unlike most brokers, FxPro does not charge a commission for certain assets. Nevertheless, financing charges apply when holding positions for a long period and when trading on margin. Spreads on the EUR/USD start from 1.5 pips and 0.2 pips in the cTrader and MT4 Platform respectively.

Trading Fees

Spot Metals, FX pairs on cTrader for instance are some of the commodities where clients are charged with a standard commission. FxPro also charges a trading fee of $45 for every million USD traded. If the clients accounts have any other currency, an equivalent fee of $45 for that currency applies. Clients incur commission charges whenever they open or close trade positions.

FxPro Non-trading Fees

Any fee not associated with the buying and selling of the trading commodities or assets is referred to as the non-trading fees. FxPro offers an average non-trading fee structure when compared to other well-known FX and CFD brokers. Deposit fees, inactivity fees, and withdrawal fees are the non-trading fees charged by FxPro.

FxPro Inactivity Fee

Typically, FxPro charges traders a $5 inactivity fee per month if the clients accounts remain inactive for six months. Other than this, FxPro also charges clients a one-off $15 fee for maintaining their trading accounts.

Most of the FxPro reviews share the opinion that inactivity fees are one of the drawbacks of FxPro. However, compared to other brokers, FxPro charges standard non-trading fees.

FxPro Payment Methods

FxPro offers multiple payment options for funding clients accounts and also for withdrawals. The deposit fee may vary based on the type of payment option. FxPro accepts most of the popular currencies for deposit methods including EUR, USD, GBP, AUD, JPY, among others.

FxPro is also known for faster transactions when compared to other brokers. Some of the common payment options for both deposit and withdrawal of funds include wire transfer, major debit cards, Maestro, MasterCard, and Visa credit card payments, payment gateways like PayPal, Skrill, Neteller, etc.

FxPro Broker Deposit & Withdrawal Options

One of the notable aspects of the FxPro broker service is the use of the same payment methods for withdrawing funds and funding traders‘ accounts. For instance, if a trader used either of the payment gateways like PayPal, Skrill, Neteller, they must withdraw using the same payment option. The same applies to credit cards, where the withdrawal amount is deposited to the traders’ credit card.

In the case of wire transfers, the withdrawal money is deposited into the bank account from which the transfer was made. For more information on the banks supported by FxPro, visit their FAQ section. Another important aspect that we came across during our research was that FxPro charges a 2.6% withdrawal fee for any withdrawals made without trading. Click here for more information on its fee Schedule.

Resources Offered by FxPro

Other than offering daily market updates, the FxPro broker also offers well-researched market analysis in its blog section. The broker also provides resourceful content from third-party research services to help traders make informed decisions for a lucrative trading experience. The site also provides videos, webinars, and tutorials for beginners.

FxPro Client Portal or Traders Dashboard

This portal enables traders to access a wide range of historic and real-time data for most the investment instruments like forex pairs, cryptocurrencies, share market updates, etc. Traders can also get information on the trading session periods indicating both losses and gains for fundamental analysis.

FxPro Economic Calendar

FxPro offers a free economic calendar or Forex calendar enabling traders to stay up-to-date with the markets. These calendars are quite resourceful tools that come in handy while making informed trading decisions or while strategizing market execution. The bottom line is FxPro provides all types of information to support both fundamental and technical analysis.

FxPro Mobile App

The proprietary mobile trading app is FxPro Direct which allows clients to trade on their mobile phones. The app is designed to provide most of the tools and information available on the web version of the platform. The trading apps are compatible with both Android and iOS devices.

Mobile trading is one of the salient features of FxPro that attracts visitors to open their retail investor accounts for trading on the go. Users can access their preferred markets, customize the different chart types and layouts for a hassle-free and low-risk mobile trading experience.

FxPro Security Measures

FxPro employs stringent security measures as the brokerage firm prioritizes the safety of client data. The broker ensures the protection of personal information, funds, and also client privacy. The client details are not shared with any third-party organizations. All the information about the clients/account holders is stored on secure servers. The client account is further protected with an encrypted password providing complete control to the client.

Below are some of the FxPro safety measures:-

• FxPro makes sure to first verify with the client whenever any request is made by the account holder. These requests include and are not limited to personal information updates and processing of the account holders data.

• The client can opt for a 2 step verification process or 2 Factor Authentication (2FA). The account holders are required to verify their requests for further confirmations regarding the changing of the clients account password. 2 step verification for password protection is a common protocol employed by most brokerage firms.

• FxPro complies with GDPR or Data Protection Officer monitoring. This means that all the systems and data of the broker are securely protected. The broker also undergoes regular audits ensuring the utmost transparency, which makes it one of the safest brokers.

FxPro Customer Support

While researching for this FxPro review, we discovered that the platform offers 24/5 customer support, which also includes phone support. They also have email and live chat options. The client can also request a callback.

As per most of the FxPro reviews, they have above-average customer service in comparison to other brokers. England residents even have access to a toll-free number while other country residents can use the following number for phone support in English: +44 (0) 203 151 5550. For customer support via email, FxPro broker service account holders can write to support@FxPro.com. Readers are advised to note that FxPro offers customer service in over 20 languages.

FxPro Reviews: Conclusion

FxPro is a low-risk broker ideal for trading CFDs and Forex. The platform offers a myriad of instruments to trade at competitive rates. Apart from offering a broad range of pricing options, FxPro broker also enables multiple market execution options and is also sometimes referred to as the best forex broker. As per the FxPro review, it supports multiple trading platforms that can be accessed via a web browser. FxPro broker also has a mobile app known as FxPro Direct. The platform offers customer service in multiple languages and is a highly regulated broker, which makes it a safe option for trading CFDs.

FAQs

Is FxPro a Good Broker？

Trust is an important element when choosing FX brokers. As per our research for this FxPro review, FxPro is one of the trusted global Forex trading brokers. The broker offers multiple trading platforms and a plethora of tools for a professional trading experience. Clients can also choose from a broad range of trading products. And, these include CFD, spreads, currency pairs, spot indices, futures, stocks, cryptocurrencies, and other commodities.

It is one of the highly regulated Forex brokers complying with CySEC (Cyprus Securities and Exchange Commission), SCB (Securities Commission of the Bahamas), FCA (Financial Conduct Authority), etc. FxPro is one of the few brokers offering negative balance protection to safeguard the clients accounts.

What Is the Minimum Deposit for FxPro？

The minimum deposit for FxPro supported platforms is $100, which in comparison with other brokers is quite high. Nevertheless, FxPro offers a wide range of products to trade, unlike any other broker. Deposit and withdrawal fees vary as per the banks.

How Long Does It Take to Withdraw from FxPro？

The processing time varies and depends on the type of payment method involved. In the case of a wire transfer, the amount is deposited into the traders bank account. Needless to say, compared to other brokers, FxPro facilitates faster withdrawals.

Does FxPro Have a Bonus？

FxPro does not offer any promotional bonuses or welcome bonuses. However, they provide a demo account for new traders or beginners to help them understand how CFD trades work.

What Type of Broker Is FxPro？

FxPro is one of the globally regulated brokers offering a wide range of services like trading commodities, spread betting, etc. It is headquartered in London where clients can also visit its office, which works Monday through Friday from 7:30 am to 4:30 pm. Many professional traders consider FxPro one of the low-risk brokers covering major financial markets. As per our research for this FxPro review, many users have provided an above-average score for the trust factor.

Is FxPro Regulated in South Africa？

FxPro is regulated by the South Africa Financial Sector Conduct Authority. It is also regulated by the FSCA, which supervises and regulates the non-banking financial service industry in South Africa.