FxPro
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| Popularity |  |
| Leverage | Up to 1:500 |
| Minimum Deposit | $100 |
| Regulation | ASIC, CySEC, FCA, SCB |
| Payment Methods | Bank Transfer, Credit Card, PayPal, Skrill, Neteller |
| Trading Assets | Forex, CFDs, Stocks, Indices, Metals, Energies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Low |
| Average cost: EUR/USD | 1.2 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| MAM | ✅ |
| PAMM | ❌ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | $5 per month after 12 months of inactivity |
| Year Established | 2006 |
| Address | 13/14 Basinghall Street, City of London, EC2V 5BQ, UK |
| Contact Information | Email: [email protected], Phone: +44 (0) 207 776 9720 |
| Mobile Trading APP | |
| Rating | ★★★★☆ [4.5] |
| Website |
Pros and Cons
- Wide range of trading instruments
- Advanced trading platforms (MT4 and MT5)
- No deposit or withdrawal fees
- Regulated by multiple major authorities
- Negative balance protection
- No PAMM accounts
- Inactivity fee after 12 months
- Limited educational resources for beginners
- Does not accept U.S. clients
- Scalping policies could be restrictive
Introduction
In the world of online trading, choosing the right broker is a pivotal decision for both novice and seasoned traders.
FxPro, a prominent player in the online brokerage industry, has garnered attention for its extensive range of services, sophisticated trading platforms, and a commitment to transparency and client satisfaction.
This comprehensive review delves into the aspects that make this broker stand out among its competitors, offering insights into its history, regulation, trading platforms, account types, and customer service quality.
Open a free accountHistory and Background
The Genesis
- Establishment: Founded in 2006, FxPro has grown to become one of the leading online brokers in the forex and CFD markets.
- Global Footprint: With a presence in over 170 countries, it has catered to millions of clients, emphasizing the democratization of trading by providing access to a wide array of financial instruments.
- Innovation and Growth: Throughout its history, FxPro has been at the forefront of technological innovation, continuously upgrading its trading platforms and expanding its product offerings to meet the evolving needs of traders.
Milestones and Achievements
- Awards and Recognition: FxPro’s commitment to excellence has been recognized with over 60 international awards, including accolades for its platforms, customer service, and trade execution.
- Expansion: The broker has significantly expanded its asset classes over the years, now offering trading in forex, shares, spot indices, futures, spot metals, and spot energies.
Regulation and Safety
Regulatory Oversight
The company operates under the regulation of several authoritative bodies, ensuring a high level of trustworthiness and security for its clients:
- United Kingdom: Financial Conduct Authority (FCA).
- Cyprus: Cyprus Securities and Exchange Commission (CySEC).
- South Africa: Financial Sector Conduct Authority (FSCA).
- The Bahamas: Securities Commission of The Bahamas (SCB).
Safety Measures
- Client Fund Segregation: FxPro adheres to strict regulatory requirements by segregating client funds from its operational funds, ensuring that clients’ investments are protected at all times.
- Negative Balance Protection: To safeguard clients from losing more than their initial investment, it offers negative balance protection across all its platforms.
- Advanced Security: The broker employs state-of-the-art encryption technologies to secure client data and financial transactions.
Why Regulation Matters
- Trust and Credibility: Regulation by multiple reputable authorities enhances FxPro’s credibility, offering traders peace of mind.
- Protection: Regulatory oversight ensures that the company operates within strict guidelines, offering protection against fraud and malpractices.
Trading Platforms
FxPro distinguishes itself through a versatile selection of trading platforms, catering to the varied preferences of its clients.
MetaTrader 4 (MT4)
- Popularity: MT4 remains the industry standard for forex trading, celebrated for its reliability, user-friendly interface, and extensive functionality.
- Features: Offers advanced charting tools, over 50 technical indicators, and supports automated trading through Expert Advisors (EAs).
- Accessibility: Available on desktop, web, and mobile devices, ensuring traders can access the market from anywhere.
MetaTrader 5 (MT5)
- Upgraded Features: Building on the strengths of MT4, MT5 offers additional timeframes, more technical indicators, and an enhanced strategy tester for EAs.
- Financial Instruments: Besides forex, MT5 supports trading in stocks, futures, and commodities.
- Market Depth: Displays market depth information, providing insights into market liquidity.
cTrader
- Designed for Professional Traders: Offers a clean, intuitive interface with advanced order capabilities and charting tools.
- Algorithmic Trading: Supports cAlgo for custom algorithmic trading strategies.
- No Requotes: cTrader is known for its execution speed, reducing the chance of requotes.
FxPro Edge
- Innovation: FxPro’s proprietary platform designed for spread betting (available for UK clients only), offering a customizable workspace.
- Asset Variety: Access to forex, shares, indices, metals, and energies with competitive spreads.
- Risk Management: Features advanced tools for managing risks effectively.
Financial Instruments
This broker provides a broad spectrum of tradable assets, allowing traders to diversify their portfolios:
- Forex: Over 70 currency pairs, including major, minor, and exotic pairs.
- Indices: Access to the world’s leading indices such as the S&P 500, DAX, FTSE 100, and more.
- Shares: Trade shares from global companies without directly owning the asset.
- Metals and Energies: Includes gold, silver, oil, and gas, offering alternatives to traditional financial instruments.
Account Types
FxPro caters to a diverse clientele by offering multiple account types:
- FxPro MT4/MT5 Accounts: Standard accounts with a choice of fixed or floating spreads.
- FxPro cTrader Account: Features market execution with no requotes and lower spreads.
- VIP Services: For high-volume traders, offering reduced commission rates and a dedicated account manager.
Trading Costs
Understanding the costs associated with trading is crucial:
- Spreads: Competitive across all platforms, with the EUR/USD pair starting as low as 0.6 pips.
- Commissions: Applicable on the cTrader platform, charged at $45 per million USD traded.
- Swap Fees: Overnight charges or credits are standard, with swap-free Islamic accounts available upon request.
Customer Service and Support
Its commitment to client satisfaction is evident in its customer support:
- Availability: 24/5 support via live chat, email, and telephone.
- Multilingual: Support available in over 20 languages, catering to a global client base.
- Responsiveness: Generally receives positive feedback for timely and helpful responses.
Educational and Analytical Resources
- Educational Materials: FxPro offers a wealth of learning resources, including webinars, seminars, e-books, and video tutorials, suitable for traders of all levels.
- Market Analysis: Clients have access to daily market analysis and insights, helping them make informed trading decisions.
- Tools: Economic calendar, technical analysis tools, and trading calculators are available to assist with trading strategies.
Conclusion
FxPro stands out as a reputable online broker offering a secure, regulated trading environment.
Its comprehensive range of trading platforms and financial instruments, combined with competitive trading costs, robust customer service, and extensive educational resources, makes FxPro an attractive option for traders looking to navigate the global financial markets.
Whether you’re a novice trader seeking educational support or an experienced trader in need of advanced tools and analysis, FxPro caters to a wide spectrum of trading needs and preferences.
Visit official website www.fxpro.comUser Reviews
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Frequently Asked Questions (FAQ)
What regulatory bodies oversee FxPro?
FxPro is regulated by several authoritative bodies, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Securities Commission of The Bahamas (SCB).
Does it offer a demo account?
Yes, FxPro offers a free demo account for beginners to practice trading strategies without risking real money. The demo account comes with virtual funds and mirrors real market conditions.
Can I trade cryptocurrencies?
FxPro allows trading in various asset classes, including Forex, CFDs on stocks, indices, metals, and energies. Currently, it does not offer cryptocurrency trading.
What is the minimum deposit required to open an account?
The minimum deposit required to open a trading account is $100, making it accessible to a wide range of traders.
Are there any fees for depositing or withdrawing funds?
FxPro does not charge any fees for deposits or withdrawals. However, your payment provider may impose transaction fees.
How does the company protect client funds?
FxPro adheres to strict regulatory standards and segregates client funds from its own operational funds, ensuring that client money is protected at all times. Additionally, it offers negative balance protection to prevent clients from losing more than their deposited funds.
What trading platforms does it offer?
FxPro offers the popular MetaTrader 4 and MetaTrader 5 platforms, as well as the cTrader platform, providing clients with a range of options to suit their trading needs.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Feng Zhou
Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.
Sandro Pontedra
Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.
Stephane Dubois
Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.
Last update: April 27, 2024