FxPro is a globally recognized online brokerage that has been serving clients since 2006. Known for its reliability, extensive range of trading instruments, and advanced technology, FxPro has established itself as a leading player in the online trading industry.
This review will cover the essential features of FxPro, including its trading platforms, account types, customer service, and more, to help you decide if it is the right broker for your trading needs.
- Wide range of trading instruments
- Multiple trading platforms, including MT4, MT5, cTrader, and FxPro Edge
- Strong regulatory oversight (FCA, CySEC, FSCA, SCB)
- Competitive spreads
- Limited account types for advanced traders
- Leverage restrictions for EU clients
Updated on: August 1st, 2024
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Overview of FxPro
FxPro is regulated by multiple prestigious financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Securities Commission of the Bahamas (SCB). This robust regulatory framework ensures that FxPro operates under stringent financial standards and offers a secure trading environment for its clients.
The broker provides access to a wide range of financial instruments, including Forex, shares, indices, futures, metals, and cryptocurrencies. This diversity allows traders to diversify their portfolios and take advantage of different market opportunities.
Trading Platforms
FxPro offers a variety of trading platforms to cater to different trading preferences and experience levels. The platforms available include MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and the proprietary FxPro Edge.
- MetaTrader 4 (MT4): MT4 is a widely used trading platform known for its user-friendly interface, advanced charting tools, and automated trading capabilities through Expert Advisors (EAs). It is suitable for traders of all levels, from beginners to professionals.
- MetaTrader 5 (MT5): MT5 offers additional features compared to MT4, including more timeframes, advanced charting tools, and an integrated economic calendar. It also supports a broader range of financial instruments, making it ideal for traders looking for more comprehensive trading solutions.
- cTrader: cTrader is popular among professional traders due to its intuitive design, advanced trading features, and enhanced market depth. It offers features such as level II pricing, custom indicators, and automated trading through cAlgo.
- FxPro Edge: FxPro’s proprietary web-based trading platform, FxPro Edge, provides a customizable interface and access to a wide range of instruments. It is designed for ease of use, making it an excellent choice for traders who prefer a straightforward trading experience.
Account Types and Pricing
FxPro offers several account types to suit different trading styles and experience levels:
- FxPro MT4 Account: This account type offers variable spreads starting from 1.4 pips with no commission. It is suitable for traders who prefer to use the MT4 platform.
- FxPro MT5 Account: Similar to the MT4 account, this account offers variable spreads with no commission. It is tailored for traders who prefer the MT5 platform.
- FxPro cTrader Account: This account offers raw spreads starting from 0.0 pips, with a commission of $45 per million traded. It is ideal for traders who require direct market access and prefer using the cTrader platform.
- FxPro Edge Account: This account offers variable spreads with no commission, suitable for traders using the FxPro Edge platform.
Finally FxPro also provides a free demo account, allowing traders to practice their strategies and familiarize themselves with the platform without risking real money.
FxPro Trading Conditions
FxPro is known for offering competitive trading conditions, including tight spreads and fast execution speeds. The broker offers leverage of up to 500:1, allowing traders to maximize their market exposure with a relatively small amount of capital. However, it’s essential to use leverage responsibly, as it can amplify both gains and losses.
FxPro provides negative balance protection, ensuring that clients cannot lose more than their account balance. This feature adds an extra layer of security, particularly in volatile markets.
The broker also offers a range of educational resources, including webinars, video tutorials, and market analysis, to help traders improve their skills and knowledge.
Customer Service and Support
FxPro provides high-quality customer support, available 24/5 via live chat, email, and phone. The support team is known for being responsive and knowledgeable, providing prompt assistance with any issues or inquiries.
Additionally, the broker’s website features a comprehensive FAQ section and a knowledge base, covering a wide range of topics from account setup to trading strategies. These resources are particularly useful for new traders who may need extra guidance.
Security and Regulation
FxPro places a strong emphasis on the security of its clients’ funds and personal information. The broker uses advanced security protocols, including SSL encryption and segregated client accounts, to protect client assets.
The broker’s regulation by the FCA, CySEC, FSCA, and SCB provides an additional layer of security and assurance, as these regulatory bodies enforce strict financial standards and regular audits. FxPro’s commitment to transparency and ethical business practices further enhances its credibility and trustworthiness.
Final Thoughts
FxPro is a reputable and versatile broker that offers a comprehensive trading environment for traders of all levels. With a wide range of trading instruments, multiple platforms, and competitive trading conditions, it provides ample opportunities for both beginners and experienced traders. The broker’s commitment to transparency, security, and customer service makes it a strong contender in the online trading industry.
Whether you’re a novice looking to start your trading journey or an experienced trader seeking advanced tools and features, FxPro has something to offer. However, traders should be mindful of the risks associated with high leverage and ensure they fully understand the implications before trading.