FxPro – Your (2024) Choice for Forex & CFD Trading Success
This Trading Platform is available in Ukraine
FxPro seems to have made a positive impression on many of its users. Traders appreciate the platform's reliability and user-friendly interface, which makes navigating the markets simpler for both novices and experienced traders alike. There's frequent praise for the customer service team who are noted for their promptness and helpfulness in addressing queries and issues. Additionally, FxPro offers a range of trading tools that are highly valued by users for enhancing their trading strategies. However, it's worth mentioning that some reviewers have pointed out difficulties with withdrawal processes and understanding fee structures. Overall, despite a few hiccups, the general consensus is that FxPro stands out as a trustworthy broker with solid offerings for Forex trading.
* The amount that will be credited to the account in the case of a successful deal
* General Risk Warning: Your capital might be at risk
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FxPro offers an array of assets and instruments for a smooth trading experience, designed to meet the diverse needs of its users. Whether you’re a novice stepping into the world of Forex and CFD trading or a seasoned expert in search of advanced features, FxPro has got you covered.
Throughout this overview, I will delve into the exceptional qualities and services provided by FxPro, shedding light on why it has garnered such high praise in the industry. Join me as I explore the comprehensive offerings of FxPro and uncover why this platform may very well be your top choice for Forex and CFD trading.
Pros and Cons
Before delving into the intricate details of any trading platform, it’s essential to gain an overview of its general benefits and drawbacks.
Pros
- Well-regulated platform, licensed by the FCA (UK), CySEC (Cyprus), FSCA (South Africa), and SCB (Bahamas), FSCM (Mauritius).
- Numerous account types and trading platforms to choose from.
- Availability of spread betting
- Wide range of financial instruments
- Successfully operating in more than 170 countries.
Cons
- The minimum deposit requirement seems high for new traders
- Deposit methods are dependent on your region
- The education section is limited
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History about FxPro
Understanding FxPro’s history requires a look into its origins and key milestones that shaped its trajectory.
Established in 2006, FxPro had a clear vision: to disrupt the Forex and CFD trading industry. This aim, coupled with a commitment to reliability and user-friendliness, led to the creation of a platform that effortlessly bridges traders with global financial markets — the backbone of FxPro’s outstanding service today.
From its early days, FxPro expanded rapidly, addressing the needs of traders worldwide. With clients in over 170 countries, it solidified its status as a trusted, sought-after brokerage.
Always at the forefront of technology, FxPro embraces innovation to enrich the trading experience. Utilizing cutting-edge solutions like MT4 and MT5 trading platforms, it continually surpasses client expectations by providing advanced tools and smooth execution.
Moreover, FxPro broadened its financial instrument offerings beyond Forex and traditional instruments, such as incorporating cryptocurrencies. This strategic move underscores FxPro’s versatility as a brokerage platform, catering to the diverse trading strategies and preferences of both beginners and experienced institutional clients.
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Key Trading Terms and Conditions at FxPro
When selecting a broker, trading conditions are an essential factor to consider. It is critical to realize that these terms can differ significantly between brokers. Even minor variations can significantly affect your trading experience.
As a trader, I recognize the significance of trading conditions, so I have taken my time to thoroughly review these terms and present them in a simplified way so you can understand them. Below are the most important terms to keep in mind:
- Minimum deposit – $100
- Withdrawal fee – $0
- Base currency – USD, EUR, PLN, GBP, AUD, CHF, JPY, ZAR
- Assets – Forex, Metals, Futures, Shares, Spot Indices, Spot Energy and Crypto
- Platforms – cTrader, MetaTrader 4, MetaTrader 5 and FxPro Edge
- Spreads – From 0.1 pips
- Minimum trade price – 0.01 Lots
- Maximum leverage – up to 1:30 (European clients), up to 1:200 (International traders)
- Inactivity fee – After six months of inactivity, there is a $15 one-time account maintenance fee and a $5 monthly fee.
- Affiliate program – Yes (earn up to $1,100 per client)
Trading assets at FxPro
The range of assets a broker offers plays a vital role in determining its value. After all, what good is a broker if it provides limited options for trading? That’s why, in this review, I have gone over each asset the platform offers.
Forex
When it comes to Forex trading, FxPro truly shines with its extensive range of currency pairs. Traders can choose from over 70 currency pairs, including major, minor, and exotic pairs. Moreover, FxPro offers competitive leverage options for CFDs on Forex, with leverage ratios of up to 1:200.
Futures
FxPro offers a focused selection of 22 Future CFDs, which is limited compared to other brokers. In terms of leverage, FxPro provides you with maximum leverage of up to 1:50 on all futures. However, you can access even higher leverage of up to 1:100 for energy futures.
Indices
This is another limited instrument with just 18 indices available. However, with a leverage of up to 1:200, FxPro empowers you to amplify your trading positions and take advantage of market opportunities.
Shares
At FxPro, you can seize the opportunity to trade Contracts for Difference (CFDs) on a vast selection of global shares. With thousands of shares available for trading, FxPro give you access to some of the largest and most popular companies across the US, UK, and EU markets.
Metals
The CFD trading platform offers a diverse selection for trading spot metals encompassing 12 options, including gold, silver, and platinum. You have the advantage of employing leverage up to a ratio of 1:200 while trading gold and silver, and in the case of platinum, the leverage extends to a ratio of 1:50.
Energies
Invest in popular spot energy commodities such as Brent and WTI with FxPro. While FxPro offers a limited selection of three energy commodities, the instruments are renowned benchmarks in the global oil industry.
Cryptocurrencies
Lastly, FxPro offers traders a diverse range of cryptocurrency CFDs, with 28 pairs available for trading. This includes popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and more. In addition to the range of digital currencies, the platform offers a 1:20 leverage.
Types of Accounts Available at FxPro
Every broker has a set of accounts designed for traders of different levels. FxPro understands traders’ diverse needs and preferences, which is why they offer a range of live trading accounts.
In this section, we shall explore the four different live trading accounts available: Standard, Pro, Raw+, and Elite.
Standard
The Standard Account offered by FxPro is ideal for traders looking for a straightforward trading experience. Other than tight spreads, there are no fees for trading currencies, metals, indices, energies, futures, cryptocurrencies, and stocks.
- Initial deposit: $100
- Leverage: Up to 1:500
- Spread: From 1.2 pips (Forex), from $0.25 (Gold), from $30 (Crypto)
- Commission: None
- Minimum Trade Size: 0.01 lots
- Maximum Trade Size: Unlimited
Pro
The Pro account is tailored for more experienced traders seeking enhanced trading conditions. Suppose you are a trader who prioritizes executing trades exclusively based on bid and asks prices without the burden of additional commissions. In that case, I suggest considering signing up for a Pro Account.
- Initial deposit: $1000
- Leverage: Up to 1:500
- Spread: From 0.6 pips (Forex), from $0.20 (Gold), from $15 (Crypto)
- Commission: None
- Minimum Trade Size: 0.01 lots
- Maximum Trade Size: Unlimited
Raw+
The Raw+ account is specifically designed for professional clients require deep liquidity and a transparent pricing model. To maximize gains in the ever-changing financial markets, traders who seek the most favourable spread should consider opening a Raw+ Account.
- Initial deposit: $1000
- Leverage: Up to 1:500
- Spread: From 0.0 pips (Forex), from $0.10 (Gold), from $15 (Crypto)
- Commission: $3.5/side
- Minimum Trade Size: 0.10 lots
- Maximum Trade Size: Unlimited
Elite
The Elite Account offered by FxPro is highly sought after by experienced traders who engage in fast-paced trading strategies such as scalping and day trading. This account type is designed to provide active traders with the most competitive spreads available, catering to their need for precision and execution speeds.
- Initial deposit: $30,000 in 2 months
- Leverage: Up to 1:500
- Spread: From 0.0 pips (Forex), from $0.10 (Gold), from $15 (Crypto)
- Rebates: Start from $1.5 per lot
- Commission: $3.5/side
- Minimum Trade Size: 0.10 lots
- Maximum Trade Size: Unlimited
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How to Open a FxPro Account
Opening a FxPro account is a straightforward process that allows you to embark on your trading journey efficiently. Here how’s to open an account in three simple steps;
- Step 1: Go to the official FxPro website using your preferred web browser.
- Step 2: Click the ‘Register’ icon on the homepage and follow the registration steps.
- Step 3: Complete the registration form with your details, including your name, email address, country of residence, and preferred account currency.
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FxPro Security Measures
Security should be a top priority when entrusting your personal and financial information to an online broker. At FxPro, I can assure you that your data is safe.
FxPro prioritizes the security of customer data and has put strong security measures in place to safeguard your private information, privacy, and funds. On its websites and applications, the platform uses cutting-edge security measures, including the highest levels of data encryption.
These precautions ensure that your sensitive information remains strictly confidential and shielded from any unauthorized access.
To further fortify its security framework, FxPro keeps a specialized team of experts on staff who keep an eye out for any potential incidents or suspicious behavior involving online payments and act quickly to address them. This proactive approach ensures the security of your funds and helps to reduce risks.
In Addition, FxPro offers a two-step verification option. This adds an extra level of protection by requiring an additional authentication step beyond your password, adding an extra layer of security to your account.
Finally, FxPro demonstrates its commitment to data protection by having a dedicated Data Protection Officer overseeing GDPR compliance. They also undergo regular external audits to ensure that all the necessary controls are in place to protect their systems and data.
FxPro Regulators
FxPro places a high priority on its customers’ security and protection when it comes to regulatory compliance. The broker is a registered and licensed company, ensuring that it operates within the legal framework and adheres to strict regulatory requirements.
The notable regulatory authorities that oversee FxPro’s operations include;
- Financial Conduct Authority (FCA) – The United Kingdom
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Sector Conduct Authority (FSCA) – South Africa
- Securities Commission of The Bahamas (SCB)
- Financial Services Commission Mauritius (FSCM)
By obtaining licenses from these reputable regulatory bodies, FxPro demonstrates its commitment to operating transparently and abiding by fair and ethical practices. With FxPro, you can trade confidently, knowing that the company operates at the highest standards of ethical conduct.
Deposit and Withdrawal
Depositing and withdrawing funds should be a hassle-free process when choosing a broker. At FxPro, they understand the importance of seamless transactions and have taken steps to ensure a smooth experience for their clients.
When funding your FxPro account, you’ll find a range of convenient payment options at your disposal. Whether you prefer credit or debit cards, bank transfers, cryptocurrencies, or online payment methods, FxPro has you covered.
This variety allows you to choose the most convenient method for you, ensuring that depositing funds is a seamless and efficient process.
Similarly, when it’s time to withdraw your money, FxPro maintains the same level of convenience and efficiency. They prioritize timely withdrawals, ensuring you can access your funds without delays.
FxPro offers the following deposit and withdrawal methods:
- Credit Card/Debit Card (Visa/Mastercard)
- Local Bank Transfer
- Neteller
- Skrill
- Cryptocurrencies (USDT, Bitcoin, Ethereum, Litecoin, USDC)
Bank transfers and credit cards have no deposit or withdrawal fees; however, your bank may charge fees based on its structure. Furthermore, there are no charges for using the e-wallet payment options, but there are conditions; for Neteller and Skrill, a fee of up to 2% and 2.6% will be charged, respectively.
Depending on the chosen payment method, deposits made with FxPro can be instant. It is important to note that the processing for funds to reflect in the trading account may vary, ranging from 1 to 3 days, depending on when the deposits are made.
On the other hand, withdrawals may take longer as they are subject to different factors, such as your chosen withdrawal method and your payment provider’s internal processes.
FxPro Training
By understanding how important education is in empowering traders with essential knowledge and skills to navigate financial markets effectively, FxPro has developed an educational page catered towards beginner traders.
This invaluable resource delivers valuable content on trading techniques, CFDs utilization, finance concepts, technical analysis and other relevant topics.
The educational page at FxPro features a range of resources, including both video tutorials and written lessons. Whether you prefer visual presentations or comprehensive written guides, FxPro’s educational content caters to different learning preferences.
In addition to the beginner-focused materials, FxPro also provides an advanced education section. This section is designed for traders who have already acquired the basics and want to enhance their knowledge further.
FxPro maintains an active presence on YouTube to supplement its educational resources with a dedicated channel featuring a short educational playlist. This allows you to access additional content in a video format, further expanding your learning opportunities.
While FxPro’s educational materials offer valuable insights, it is worth noting that they could further enhance and expand their educational offerings to cover more advanced topics and provide more in-depth educational resources.
Customer Support
FxPro prides itself on delivering superior customer service, surpassing many competitors. Its multilingual team is available 24/5, ensuring immediate assistance whenever needed.
The company provides live phone support in multiple locations, including the UK, Cyprus, Monaco, Bahamas, and the UAE. For UK residents, a toll-free number is available for easy, no-cost communication.
FxPro also maintains a physical office in London, open from 7:30 a.m. to 4:30 p.m., featuring a reception desk to meet client needs. This location enhances its customer service offering, providing a personalized, face-to-face experience for those who prefer it.
Echoing American businessman James Cash Penney’s words, “Courteous treatment will make a customer a walking advertisement,” FxPro’s service ethic is affirmed by numerous online reviews. Users of the platform routinely praise the customer support team’s proactive approach and recommend FxPro as a first-rate trading platform.
With FxPro’s commitment to exceptional customer service available round the clock, traders can trade confidently, knowing that help is just a call or message away
Frequently Asked Questions (FAQs)
Is FxPro safe and legit?
FxPro is a reliable, extremely safe forex broker. Top-tier regulatory organizations also oversee them, which includes the Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC). As a result, FxPro has earned one of the best reputations for safety in the market.
Which platform does FxPro use?
FxPro provides several popular trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and FxPro cTrader. These platforms, which are available for desktop, web, and mobile platforms, provide advanced charting and trading tools.
Can I open a demo account with FxPro?
Yes, FxPro gives users access to a free demo account to practice trading without taking risks. Before trading, you can also practice your strategies on the demo account and become familiar with the interface.
How much is the minimum deposit fee on FxPro?
All accounts at FxPro require a $100 minimum deposit. The broker advises a minimum investment of $500 to fully utilize the platform and maximize your trading experience with FxPro.
Does FxPro offer customer support?
Yes, FxPro offers customer support via live chat, email, and phone every business day (24/5). Additionally, the customer service team is on hand to assist you with any concerns or inquiries regarding the platform.
Does FxPro make any bonus offers available?
No, FXPro does not provide new customers who open real accounts with the company with a sign-up bonus, welcome bonus, no-deposit bonus, or the benefit of a no-deposit bonus.
Can traders switch between FXPro account types?
Yes, traders can switch between different FXPro account types at their convenience. However, you may need to close their current positions and transfer their funds to the new account. This process might come with additional fees or a commission charge.
Conclusion
My experience with FxPro has been nothing short of exceptional. From the moment I opened my account, I was met with a user-friendly interface that made navigation and execution of trades effortless.
The platform’s robust offerings, user-friendly interface, competitive pricing, and outstanding customer support have made it a top choice for traders seeking a reliable and comprehensive trading experience.
Whether you are a novice trader or an experienced professional, FxPro offers the tools, support, and security necessary to navigate the financial markets with confidence. Choose FxPro as your trading partner and embark on your journey towards success in the world of online trading.
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