FxPro started its operation in 2006 as an online forex broker and since then enhanced its service dramatically, by its aim and follow of a client-centric approach. In fact, FxPro now serves retail and institutional clients from around 170 countries through over 870,000 trading accounts which made it one of the leading Forex Brokerages.
At the development stage, FxPro started as a forex broker and then spread further into providing CFDs on 6 asset classes, with over than 280 instruments, and still continues its development by adding on more instruments hence influence on the company’s growth too. The FxPro Cryptocurrencies offering speculation on CFDs with most popular cryptos, which is a great advantage too.
Of course, tons of customers around the world and general reviews bringing the understanding that FxPro achieved sustainable trust in the industry and gained the highest ranks. But in addition to that, international rewards from the largest financial institutions and organizations brought a conclusion that the manner FxPro operates its NDD execution and operation itself deserves recognition too.
Starting from 2008 the company obtained numerous awards, and so far holding 55+ UK & international awards, as well as takes an active part in sponsorships.
‘Best FX Provider’ 2018 | Online Personal Wealth Awards
‘Most Trusted Forex Brand UK’ 2017 | Global Brands Magazine
Is FxPro safe or a scam?
FxPro Group Limited is the holding company that consists of – FxPro Financial Services Ltd, FxPro UK Limited, FxPro Global Markets MENA Limited and FxPro Global Markets Limited. The group headquarter is in the UK, however broker serves offices in Cyprus, Dubai and the Bahamas. As a licensed broker FxPro subject to strict European laws, providing its financial services guaranteed by legal regulatory agencies such as CySEC, FCA and authorized by the DFSA.
The regulated status of the broker, first of all, ensures its legit status, a regular check on the performance from the respected authority that ensures the client’s deposit by the set of protective measures. Client funds are stored in segregated accounts of European investment-grade banks, while the trader is a participant in the compensation of investors in case of FxPro insolvency, as well trade with negative balance protection.
Let’s get closer to the particular FxPro offering and see why the world traders prefer this choice. First of all the platforms range offers truly powerful software through an option to suit your personal needs, either industry-leading leading FxPro MetaTrader4 or its newest version FxPro MetaTrader5. Or maybe to stick with the super technological platform FxPro cTrader or to use the proprietary platform FxPro Edge for Spread Betting.
Not jumping into the details about each of the platforms, the general conditions offering various order executions either Instant or Market Execution with tiered liquidity orders. Each platform features different stop out or limit levels, slightly vary in its instrument offering or may charge spread only or include commission per trade but with a lower spread (read further for detailed info).
Another technological solutions and advantages of FxPro lays on the ground at every platform and depending on trader what is the technology you prefer to use. Yet, what we could say there are vast of opportunities, tools, measures and add-ons available with automatic trading, no restrictions on scalping, or option to use proven managers and pre-tested trading strategies under all major risk management rules. Moreover, all traders are offered to use a VIP package of services that includes a number of advantages: free VPS-server, no deposit fees, SMS-notification of the margin, free news reports and many more.
Apart from the variety of trading platforms, there is no choice between the FxPro Accounts , it is a one account feature with a full package of advantages proposed by FxPro, yet the Micro Accounts and Swap-free accounts are available too. Each of its kind offering dynamic Leverage at the maximum 1:500, and initial recommended deposit – 500$ and variable or fixed spreads (scroll down for more detailed information). If you are a beginning trader or would like to check on the broker’s conditions Demo account is a perfect solution to test the practices and highly recommended at the early stage.
Leverage specification at FxPro offers a dynamic forex leverage model with various levels as the regulatory requirements of a particular entity set and obliged broker to follow. As we found already before, FxPro offers trading access through 3 main trading platforms that automatically adapt the clients’ trading positions, thus you can choose a suitable level to you and adjust to your strategy.
The maximum leverages offered by FxPro entities are detailed below and ranges between 1:30 for European Clients up to 1:500for International traders.
Going to the important topic of what you have to pay in order to enjoy all FxPro trading possibilities, you should consider that all trading fees are built into the FxPro tight spread, which is a difference between bid and ask price. FxPro offers both variable and fixed spread, while fixed available only through the MT4 platform, yet FxPro cTrader offers market execution with an average spread on Eur/Usd 0.3 and 45$ commission per 1$ million traded.
Overall, the spreads and costs considered to be low among the industry offering, for instance check and compare FxPro fees with its peer FXTM.
FxPro Fee Terms
Crude Oil WTI
FxPro overnight fee
You should consider also a FxPro overnight fee charged by the broker in addition to the spread, for Forex pairs the cost or income is calculated as the interest rate differential between the Tomorrow Next Deposit Rate of the 2 currencies in question, plus the commission charged by the broker. This depending on the type of the position long or short, thus you may either gain or lose on swap or rollover.
Deposits and Withdrawals
There is a multitude of ways to fund the trading account as well as to enjoy 0$ fee for money transfers. At present FxPro supports 6 different payment methods Bank wire transfer, Credit Cards, PayPal, Skrill, Neteller or UnionPay. In addition, clients can perform deposits using several different currencies including USD, Euro, KWD, AED, SAR, and RMB which means you won’t be charged the conversion. However, every entity support various deposit methods, for details check official source FxPro.
FxPro minimum deposit
FxPro Minimum Deposit is set to 100$, however the broker recommends to deposit at least 500$ in order to enjoy full features of the trading itself.
FxPro withdrawal fee
FxPro Withdrawal fee and deposit charges as a pleasant addition from FxPro is 0, means there is no charge for withdrawal at any of the payment methods. Withdrawals usually processed within 1 day while using the same payment method as the deposit was done.
Overall FxPro is a very customer friendly broker that besides to its good reputation and reliability, due to heavy regulation, offers an advantage to the traders of different level and expertise. Well-developed company’s analytical and educational departments are organized simply in an astonishing way. As the FxPro tries to assist traders in every possible way and offer, even more, the broker generously provides a truly professional approach to an important part of each trading day – analysis. FxPro expert teams around the world collecting, analyzing and then providing tons of information about market moves, which allows every trader to use professional forecasts and reliable analyses, hence sufficiently increase potential profits in passive mode.
Better brokers would be FXTM and XM.com which both of them are similar to FxPro but much better service in education and support traders.
Nevertheless, it will be great to know your personal opinion about FxPro which you may share in the comment area below.
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