In this FxPro review 2021 we’ll show all the pros and cons of a forex broker, as well as its trading conditions, platforms and account types, and much more.
FxPro is one of the largest groups of companies in the forex and CFD market, providing its clients with first-class liquidity and advanced trade execution with no dealing desk intervention.
The broker was founded in 2006, currently it operates in more than 170 countries and is one of the best in the world according to internet sites and financial agencies.
Content
In 2020, Fx Pro offers Contracts for Difference (CFDs) on 6 asset classes: Forex, Stocks, Indices, Futures, Metals and Energy. The group of companies has more than 75 awards and sponsors more than 8 projects.
Trading conditions
| Official site | https://www.fxpro-global.org |
| Year of foundation | 2006 |
| Regulated by | FCA, CySec, FSCA, SCB |
| Trading instruments | 260+ assets CFDs on forex, stocks, futures, indices, metals, energy resources |
| Spreads and commissions | Average / above average floating spreads From 0.37 pips with a commission; From 1.51 pips no commission |
| Most popular | FxPro in Namibia, Cyprus, South Africa, Albania, Zambia, Jamaica, Uganda, Morocco, Nigeria, UAE, Kenya, Vietnam |
| Provision of services in the US, UK, Canada, European Economic Area | The European Economic Area and UK The US and Canada. |
| Min. trade size | 0.01 |
| Leverage | Up to 1:500 |
| Account types | MT4 Instant (fixed and floating spreads), MT4, MT5, cTrader, Edge CFD, VIP |
| Minimum deposit | $ 100 (Recommended $ 500) |
| Minimum withdrawal | $ 1 |
| Deposit & withdrawal methods | 5+ |
| Payment Fees | |
| Trading hours | 24/5 |
| Trading platforms | MT4, MT5, cTrader, FxPro (EDGE) |
| Mobile App | |
| Demo | |
| Copy Trading | |
| AT/Robots | |
| Bonus | |
| Affiliate program |
Regulation of the Fx Pro group of companies
Fx Pro consists of a group of companies that provide services in more than 170 countries around the world. Each company has a license from the regulator. Among the regulatory bodies are the reputable FCA and CySEC, which enable Fx Pro to provide its services in the UK and Europe.
The majority of traders fall under the jurisdiction of the Securities Commission of the Bahamas (SCB).
The group of companies consists of:
- FxPro UK Limited is authorized and regulated by the UK Financial Conduct Authority (registration number 509956).
- FxPro Financial Services Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) (license no. 078/07).
- FxPro Financial Services Limited is authorised by the Financial Sector Conduct Authority (FSCA) (authorisation no. 45052).
- FxPro Global Markets Limited is authorised and regulated by the Securities Commission of The Bahamas (license no. SIA-F184).
Depending on the jurisdiction, some trading conditions slightly change (for example, the Stop Out level).
With a large enough deposit, you can change the jurisdiction to FxPro UK if necessary.
More than 14 years of work on the market and the presence of reputable regulators show the absolute reliability of the FxPro broker. All customer deposits are insured, located in large international banks and are completely separated from the company’s own funds.
Reviews of traders 2021
Reviews of traders and clients about the FxPro broker confirm that it deservedly occupies high positions in the ratings of forex and CFD brokers. Many traders have left their reviews about the broker, and most of them are positive. However, there are a lot of fake positive and negative reviews.
Generally, positive real reviews from FxPro traders and clients note its first-class reliability and safety, high regulator status, right and real asset quotes, fast withdrawals, low spreads and super-fast order execution.
There is much less negative reviews from traders and clients about the FxPro broker in 2021. More precisely, they are, but too many of them are fake. They indicate a complicated verification process, high spreads, annoying calls from managers and requotes in case of high volatility.
Various traders claim spreads are low and too high, so which is the truth?
During the review, it was revealed that the real spreads of FxPro on major currency pairs start from 1.6-1.7 pips (on cTrader they are lower, but there is a commission). This is a low figure among forex brokers, but most likely not suitable for scalping / short-term trading. The problem with requotes with high volatility is encountered by many brokers, with FxPro they are possible on some types of accounts.
FxPro trading platforms
The broker provides 4 trading platforms for its clients: MT4, MT5, cTrader and FxPro EDGE. Each trader will be able to find the most convenient and suitable platform for himself, taking into account their key features. For each platform, the broker offers different types of accounts, which will be discussed a little later.
MT4
MetaTrader 4 (MT4) is the standard in the online trading industry. The FxPro MT4 trading platform combines an intuitive user interface with a customizable environment and rich functionality, and provides the trader with everything they need to work with charts, place orders and manage positions.
You can download MT4 for free from the FxPro website and instantly get access to three types of charts, 9 timeframes, 50 technical indicators, and a fully customizable interface. The platform is available in versions for Mac and Windows, as well as a mobile application for iOS and Android.
Key platform features:
- Trade currencies, metals, stocks, indices, energies and futures
- Partial order execution is not allowed
- Micro lots available
MT5
MetaTrader 5 (MT5) is a powerful and versatile trading platform. The FxPro MT5 platform has everything you need to trade the global financial markets and is easy to customize for any trading style.
One of the key advantages of the Fx Pro MT 5 platform is the ability to conduct complex technical analysis using more than 50 indicators. You can use Trading Central for market analysis. In addition, MT5 allows you to track market depth and make informed trading decisions based on 21 timeframes. Also, traders can open up to 100 charts of financial assets at the same time.
MetaTrader 5 provides a deeply developed environment for creating trading advisors, even if you do not have the skills to work in the MQL5 programming language.
The MT5 platform is available in versions for Mac and Windows, as well as a mobile application for iOS and Android. You can download MT 5 for free after registering on the official FxPro website.
Key platform features:
- Low spreads from 0.6 pips
- Market execution
- Buy Stop Limit and Sell Stop Limit
- Market depth information
- Trading on a tick chart
- Integrated development environment for advisors
cTrader
FxPro cTrader is a powerful trading platform with the best Bid and Ask market offers. On the FxPro cTrader platform, orders are executed in milliseconds. You can download FxPro cTrader for free and gain access to the full depth of the market using an easy to use user interface.
In recent years, cTrader has securely positioned itself as the leading trading platform in the industry. At the moment, about a thousand symbols are available for trading on it, including Forex, stocks, indices, and many other CFDs. Traders note that the trading platform has a simpler intuitive interface than Metatrader.
Key platform features:
- Spreads from 0 pips
- Market depth information
- No restrictions on stop / limit levels
- Full Market Execution
EDGE
As one of the leaders in Forex and CFD trading, FxPro strives to provide its clients with a wide range of feature-rich platforms. This is how FxPro EDGE appeared, which is the proprietary trading platform of the broker.
This platform has a beautiful interface and a large selection of widgets that allow you to customize the trading space especially for you.
However, on the FxPro EDGE platform, you cannot use advisor trading and assess the market depth, and there is also a slight difference in the speed of opening positions compared to cTrader.
FxPro EDGE can be launched directly from the browser, and it is also possible to download an application for a PC or mobile phone from the broker’s official website.
Key platform features:
- 50+ technical indicators
- Ability to distribute graphs to different monitors
- Useful trading widgets
- Customizable interface
- 6 chart types and 15 time frames
- Dark / light theme
Account types
For its clients, FxPro offers several types of accounts for different trading platforms. The broker provides the opportunity to open a real account for any of its trading platforms. In total, Fx Pro has 7 types of real accounts, including a privileged VIP account with a deposit of $ 50,000 or more. In addition, the broker provides an unlimited demo account.
Demo account
FxPro gives you the opportunity to create a free demo account of any type and for any broker platform after registration. To do this, in your FxPro direct account, select the “Accounts” tab on the left panel, then go to the “Demo Account” tab and open a demo account.
After selecting the account type and currency, you will receive your login details for the respective platform by email. The FxPro demo account allows you to test all the features of the different types of accounts and platforms that a broker has. In addition, you can develop and test your strategies on it for an unlimited time.
Real account and its types
A real FxPro account is also created through your Direct account. To start trading on a real account, you will need to make a minimum deposit. FxPro’s minimum deposit is $ 100. However, the broker strongly recommends a minimum of $ 500 for trading.
In total, the broker has 7 types of real accounts, depending on the type of trading platform, as well as with different trading conditions.
There are 3 types of accounts for the Metatrader 4 trading platform: Instant (with fixed spreads), Instant (with floating spreads) and Market. On a fixed spread account, you can trade 7 currency pairs with a fixed spread, otherwise it is the same as a floating spread account. The Market account is distinguished by market execution and no requotes.
The broker offers an FxPro MT5 account for traders who prefer to trade on the Metatrader 5 platform. It features slightly lower spreads and market execution without requotes, but stock trading is not available and the Stop Out level is 30% for SCB jurisdiction.
The FxPro cTrader account will allow you to trade CFDs on Forex, Indices, Energy and Metals with reduced spreads from 0.37 pips. On this account, the broker has the lowest spreads, but there are commissions for forex and metals.
The FxPro Edge CFD account is designed for trading on the proprietary platform of the Fx Pro EDGE broker and in the MT4 terminal. The trading conditions of the MT4 Market account are used as a basis.
The FxPro VIP account is a customer loyalty program. VIP status (account) is assigned with a deposit of $ 50,000. For clients with such an account, there are 30% discounts on spreads and trading commissions for forex and metals.
All accounts have the technology of order execution with no dealing desk intervention (NDD), the average order opening speed is 11.06 ms. Leverage depends on the jurisdiction, it can be from 1:2 to a maximum of 1:500.
Minimum deposit and withdrawal of funds, methods
FxPro has a minimum deposit of $ 100, but the broker strongly recommends a minimum deposit of $ 500 for optimal and most successful trading. The minimum withdrawal of funds is not limited and actually starts from $ 1. Traders and clients of the broker note that Fx Pro carries out withdrawals of funds in a very short time and they do not have any problems with this.
Fx Pro offers a small selection of deposit and withdrawal methods. Deposit and withdrawal of funds occurs in the FxPro Direct personal account.
FxPro Financial Services Limited offers the following deposit and withdrawal options:
- Bank Transfer
- Credit card (Visa, Mastercard, Maestro, American Express)
- PayPal
- Skrill
- Neteller
- UnionPay
The paypal method is not available for the jurisdiction of FxPro SCB. For the jurisdiction of FxPro UK, deposit and withdrawal methods are available only via bank transfers and a credit card.
You can withdraw funds in the same way that was used for the deposit. FxPro has no deposit or withdrawal fees, however fees may be charged by your payment service.
Forex broker FxPro does not provide bonus on deposit and tournaments.
Final review of FxPro
In the final FxPro review, we consider all its advantages and disadvantages. In the end, we conclude whether it is worth trading with this forex broker.
Pros and Cons
Pros
FxPro is a very reliable, secure and regulated broker since 2006. The group of companies has a high status regulation.Small size of the minimum deposit ($ 100) and withdrawal of funds ($ 1)
No commission for deposits and withdrawals
Large selection of Forex and CFD assets with relatively average spreads
Super-fast order execution (NDD) and no requotes on some account types
Most of the reviews from FxPro traders and clients are positive
Free and unlimited demo account
Large selection of trading platforms (MT4, MT5, cTrader, FxPro EDGE) and account types
Cons
Fx Pro spreads are large enough for scalping / short term tradingFew methods to deposit and withdraw funds
Clients report annoying calls from broker managers
Conclusion
As a result of the review, FxPro is definitely worth considering for forex and CFD trading. The broker has earned an excellent reputation among clients and proves its status as one of the leaders in the industry. For the high reliability and quality of the provided trading services, he received a huge number of awards, as well as the trust of traders.
However, during the FxPro review, several flaws of the broker were found. There is one main reason why a broker might not be right for you.
If you are mainly involved in scalping / short-term trading and you want the smallest spread possible. The broker has super fast order execution, but the spreads are not the lowest among forex and CFD brokers. However, for VIP clients (with a deposit of over $ 50,000) Fx Pro provides a 30% discount on spreads and commissions, which makes them more attractive to trade. But not every trader can afford such a deposit.
And yet it is worth saying once again that FxPro is one of the best brokers in the field of Forex and CFDs in terms of reliability and trading conditions provided. FxPro provides services in more than 170 countries of the world, now it is most in demand in Namibia, Cyprus, South Africa, Albania, Zambia, Jamaica, Uganda, Morocco, Nigeria, UAE, Kenya, Vietnam.
Be the first to leave a review.
