FxPro Review 2024
Website: www.fxpro.com
Min. Deposit: US$ 100
Leverage: 1:30 | 1:200
Trading Platforms: MT4, MT5, cTrader, FxPro Platform
Regulation: FCA, CySEC, SCB, FSCA, FSCM
Headquarters: UK
Founded: 2006
Regulatory Licenses:
- FxPro UK Limited - authorized by the FCA (UK) registration no. 509956
- FxPro Financial Services Ltd - authorized by CySEC (Cyprus) registration no. 078/07
- FxPro Financial Services Ltd - authorized by FSCA (South Africa) registration no. 45052
- FxPro Global Markets Limited - authorized by SCB (Bahamas) registration no. SIA-F184
- Prime Ash Capital Limited - authorized by FSCM (Mauritius) registration no. GB21026568
Updated on April 22, 2024
Quick Links
At Broker Insight, our Financial Experts, who boast over 20 years of experience in Forex Trading, conduct thorough evaluations of various aspects of trading services. This includes a detailed analysis of trading offerings, fee structures, and the usability and features of trading platforms. We also verify regulatory compliance, engage with customer service, and execute actual trades to assess the trading conditions firsthand. This comprehensive approach allows us to provide expert opinions and insights specifically about FxPro, based on real-world experience and in-depth analysis.
FxPro, a prominent online Forex broker and trading platform, commenced its operations in 2006. Since its inception, it has significantly enhanced its services by adopting a client-centric approach. Based on our expert research, it's evident that FxPro now caters to retail and institutional clients from approximately 170 countries through more than 2 million trading accounts, establishing itself as a leading forex brokerage.
What Type of Broker is FxPro?
Our investigation reveals that FxPro functions as an NDD (No Dealing Desk) broker, offering CFDs across six asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals, and Spot Energies. The broker provides its clients with access to top-tier liquidity and advanced trade execution without any dealing desk intervention.
Where is FxPro Located?
FxPro boasts a longstanding operational history and is a heavily regulated broker with an excellent reputation. The account opening process is straightforward, and clients are offered a wide array of trading tools and userfriendly software. Additionally, FxPro's educational and research resources are of high quality, making it an inviting platform for beginners.
Pros
Long history of reliable operation
Heavily regulated with an excellent reputation
Easy account opening process
Wide range of trading tools and userfriendly software
Highquality education and research resources
Cons
Trading proposals vary by entity
Some deposit methods are not available in certain regions
FxPro Review Summary in 12 Points
Headquarters: UK
Regulation: FCA, CySEC, SCB, FSCA, FSCM
Platforms: MT4, MT5, cTrader, FxPro Platform
Instruments: Forex and CFDs on 6 asset classes, with over 2100 trading instruments
EUR/USD Spread: 0.9 pips
Demo Account: Available
Base currencies: EUR, USD, GBP, AUD, CHF, JPY, PLN, and ZAR
Minimum deposit: $100
Education: Professional education and free research tools
Customer Support: 24/7
Overall FxPro Ranking
Based on our expert findings, FxPro is regarded as a reputable broker offering safe and very favorable trading conditions. The broker provides a variety of trading services suitable for both novice traders and professionals, with low initial deposit requirements. A significant advantage of FxPro is its global reach, allowing traders from various countries to sign up. Moreover, the broker is known for offering some of the lowest spreads in the industry. FxPro's overall ranking is 4.6 out of 5, as determined by our testing and comparison with over 1000 brokers.
FxPro has garnered considerable trust worldwide, as evidenced by customer feedback and general reviews. In addition to its sustainable trust in the industry, FxPro has also received acclaim for its NDD execution and overall operation, earning recognition from major financial institutions and organizations. Our research indicates that since 2006, FxPro has consistently been awarded for the quality of its services, amassing over 95 international awards to date.
No, FxPro is not a scam. Our expert research concludes that FxPro is a safe broker for trading FX and CFDs. It holds licenses and is regulated by several top-tier financial authorities, including the FCA and CySEC, making it a secure and low-risk choice for traders.
Is FxPro legit?
Yes, FxPro is a legitimate and regulated broker across various jurisdictions. Its regulation and authorization by multiple regulators provide it with additional layers of security, benefiting traders. As a licensed broker, FxPro adheres to strict European laws and offers its financial services with guarantees from legal regulatory agencies. Our conclusion on FxPro's reliability: Our ranked FxPro trust score is 4.6 out of 5, attributed to its good reputation, service quality over the years, reliable top-tier licenses, and regulated entities in each region it operates. However, it's noted that regulatory standards and protections may vary based on the entity.
Leverage options at FxPro present a dynamic model tailored to meet the regulatory standards of various jurisdictions, ensuring compliance and flexibility for traders. Our comprehensive review reveals that leverage maximums are subject to regulatory environments and the specific trading instruments or platforms used by clients:
For European clients, leverage can reach up to 1:30.
International traders may access leverage up to 1:200.
Our in-depth examination of FxPro's offerings uncovers a variety of account types designed to cater to diverse trading needs. Beyond a standard comprehensive account, FxPro provides Micro Accounts and Swap-free accounts, alongside a Demo account for risk-free practice. This flexibility ensures traders can easily transition between live and demo trading environments, enhancing user experience and accessibility.
FxPro's fee structure incorporates competitive spreads as the core component, with additional charges for commissions and swap/rollover fees where applicable. Specifically, commission fees are applied to FX pairs and Spot Metals on the FxPro cTrader platform. Swap fees are systematically charged at 21:59 UK time, converted to the account's base currency. Our analysis, benchmarked against over 1000 brokers, positions FxPro's fees as relatively attractive, with an overall rating of 8.5 out of 5, indicating a balanced cost structure conducive to trading.
Our expert research into FxPro's spread offerings reveals a dual structure of variable and fixed spreads, depending on the chosen account type. FxPro stands out for its competitive spreads across trading platforms. Notably, the MT4 Raw Spread account features unmarked spreads on FX & Metals, subject to a commission of $3.50 per lot. Conversely, other MT4/MT5 accounts incorporate marked-up spreads with zero commission fees. The cTrader account boasts even lower spreads on FX and metals, complemented by a commission rate of $35 per $1 million USD traded. This pricing model earns FxPro a spread rating of 7.8 out of 5, showcasing its appealing spread structure compared to industry counterparts.
Offering a wide array of payment methods, including Bank Wire transfers, Credit/Debit cards, PayPal, Neteller, and Skrill, this forex broker ensures swift and efficient fund transfers to your trading account. It boasts a variety of ways to both fund your account and enjoy a $0 fee for money transfers. However, it's crucial to verify the conditions specific to the entity you'll be trading through. The funding methods received a commendable rating of 4.0 out of 5. The minimum deposit requirement is set at a moderate level within the industry, with negligible to no fees, and the advantage of choosing from various account-based currencies. Nonetheless, the availability of deposit options might differ across different entities.
Pros
Numerous payment methods provided
$0 fee for money transfers
Cons
Deposit options may vary by entity
In terms of deposit options, this broker stands out by offering a substantial range of payment methods. However, potential users should check the availability of these options based on the broker's regulation.
The broker sets the minimum deposit at $100, recommending a $1,000 deposit to fully utilize the trading features, which is relatively lower compared to the industry's average minimum deposit requirement, often set at $500.
Withdrawal processes at this broker are streamlined, with no charges or commissions on deposits/withdrawals. However, users should be aware of potential fees imposed by banks during bank transfers. Withdrawal requests are typically processed within one working day, ensuring quick access to funds.
Our extensive analysis reveals that this forex broker offers a superior range of desktop, web, and mobile trading platforms, including its proprietary platform, MT4, MT5, and cTrader. Earning an excellent rating of 4.5 out of 5, the platform selection stands out in the industry for its inclusivity and the provision of exceptional research and tools.
The web trading platform facilitates easy access to traders’ accounts directly from their browsers, featuring a customizable interface and advanced trading widgets. For mobile users, the broker's app offers an integrated platform for account management, fund management, and trading.
The desktop platform, available for download, caters to a comprehensive trading experience, offering a wealth of tools, add-ons, and automatic trading options. It supports a range of trading strategies and risk management rules, alongside a VIP package offering numerous benefits, including a free VPS server and margin call SMS notifications, among others.
The broker's commitment to excellent customer service is evident, with a 24/7 multilingual support team ready to provide relevant answers. Offering live chat, email, and phone support, the customer service is rated outstanding at 4.75 out of 5. Our tests showed quick and knowledgeable responses, making it a standout feature compared to other brokers.
Our research indicates that the broker offers an extensive collection of educational resources, including free online forex trading courses for both novices and advanced traders, webinars, and video tutorials. With a rating of 4.25 out of 5, the educational materials and research opportunities are of high quality, contributing significantly to the broker's overall value.
In summary, this forex broker is recognized as a secure and reliable platform for trading, offering comprehensive trading solutions. Its flexibility in terms of platforms, currency pairs, and available solutions has contributed to its reputable and respected standing in the market. Competitive costs, excellent educational resources, and a variety of trading strategies make it an attractive choice for traders at all levels. Recommended for both beginners and advanced traders, as well as those interested in MT4/MT5 and cTrader platforms, currency and CFD trading, and algorithmic or API trading, the broker excels with exceptional customer support and educational offerings.
as a newbie to crypto i lost alot of money, I would like to express my gratitude to Expert Bernie Doran for their exceptional assistance in recovering my funds from a forex broker. Their expertise and professionalism in navigating the complex process were truly commendable. Through their guidance and relentless efforts, I was able to successfully retrieve my funds of $150,000 providing me with much-needed relief. I highly recommend him on Gmail Berniedoransignals@gmailcom to anyone facing similar challenges, as their dedication and commitment to helping clients are truly impressive. Thank you, Bernie doran, for your invaluable support in resolving this matter
They closed suddenly without notice while there's balance of 8000 dollars ! Now they don't allow trading or more than that, asking me to open a new account !! What about my money !!! I am currently working with '' wikihelpdesks@gmail.com '' for assistance to help me get my fund back from them.
Some online crypto brokers deceived me to invest with them and they stole more than $70,000 worth of bitcoin . I was able to recover my money back from them with the help of wiki help desks at wikihelpdesks @G- mail . c om it is better to stay away from online investments