You should be more aware of the broker’s reputation before making a decision, and this time, we have brought to you FxPro Review in which we have thoroughly discussed its features, security that it has to offer to its clients and the maintenance of quality assurance. So, let’s go ahead and find out whether it is trustworthy and legitimate or not.
FxPro Review – OverviewFxPro was founded in 2006, and it has been more than a decade that this broker has developed and maintained its reputation. It is offering Contracts for Difference (CFDs) on six asset classes that include Forex trading, shares, spot indices, future markets, metals & energies, and with more than 250 instruments it offers.
FxPro Review – RegulationsSpeaking of regulations, FxPro is regulated under different subsidiaries and operates almost around the globe with legal license and authority. It works in the UK under the management of FxPro UK LTD and the UK’s Financial Conduct Authority (FCA) under the registration number #509956 regulates it. In Europe, it operates under the management of FxPro Financial Services LTD, which is a Cyprus Investment Firm under the jurisdiction of Cyprus Securities and Exchange Commission (CySEC). The company also operates in South Africa under the regulations and authority of the South African Financial Services Board (FSB) under the authorized license number #45052. In the Middle East, it operates under the subsidiary company called FxPro Global Markets MENA LTD. The company is also based in Dubai under the jurisdiction of the Dubai Financial Services Authority. Moreover, for its global operations, FxPro Global Markets LTD, a regulated entity of the Securities Commission of The Bahamas (SCB), manages the broker firm.
FX Pro Company Legal Information and ReviewAt first, you need to establish trust with any Forex broker you connect. As FX Pro review founds that the platform realizes it as a vital consideration to almost everyone who is thinking to choose FxPro as their broker. Fx Pro review confirms that Forex trading with FxPro is highly secured as it has been in the field for more than a decade and overseen as well by some of the most esteemed financial regulators in the industry.
Is FxPro a Scam Broker?Before getting connects with FxPro or any other broker, everyone must be thinking is it safe, is it reliable, should I choose this broker? However, as per legal opinions and thorough Fx Pro review, it is definite that Fx Pro is not a scam. As compared to others, Fx Pro has a lower number of complaints while in terms of their customer base and growing size as well as the market figures where they are present. If you ever had read or seen some scam reports of Fx Pro, then they are non-existent virtually. It is a creditable achievement with the nature of the industry.
Where does Money Go While Making a Deposit with FxPro?Your funds are safe in separated accounts when you make a deposit with Fx Pro. In segregated accounts, your funds are directed within top tier financial institutions. With financial regulators, this is in strict compliance around the world such as the FCA in the UK. In Fx Pro review, this policy makes sure that Fx Pro systems stay completely transparent and reliable.
How Can You Check the FxPro Licenses?If you want to check further information regarding the regulatory licensing of FxPro then you can approach to the following links, as they are directly associated regulatory bodies:
Technical Opinions on Kind of BrokerIn the purest sense, FxPro is an NDD or No Dealing Desk broker. Impending brokers ask frequently, “is FxPro an ECN broker? According to the Fx Pro review, the website of the broker often correlates by mistake an ECN broker with automatically being a no-trade desk broker, which is not always the case. An ECN FxPro review is conducted with many other broker review sites, which further serves to mystify traders. Well, the bottom line from the perspective of the company shows that FxPro deals with ultimately no dealing desk intervention in the execution of its trades.
How Does FxPro Profit?A marginally marked up spread is used for FxPro profit that is offered to the user. This is alternative of a commission on both FxPro MT4 and FxPro Mt5 accounts, which claims to provide commission-free trading. The spread comparison of FxPro is highly competitive with other major brokers on these accounts at between 1.2 – 1.4 pips on most important Forex pairs. The cTrader account of FxPro applies a commission of $45 per $1 million traded. The average spread is much lower on this account, which is at 0.3 pips.
Reliability of FxProSince over a decade, FxPro has proven itself as a reliable broker because of its operational services and many clients that have signed with it. It has maintained its services in various parts of the world and altogether, this broker has a significant operational global firm. Besides, FxPro has earned many awards throughout this period, and no other broker has been able so far to come even close to its achievements. FxPro has assured its quality and security, which is why the traders from the UK and the EEA are protected under the Financial Services Compensation Scheme (FSCS) and Investors Compensation scheme respectively. It may give you the idea in this FxPro review that how popular, reliable and safe this broker is for trading.
Trading Platforms of FxProFxPro offers multiple trading platforms such as its in-house FxPro cTrader and FxPro Edge. However, it also adds the most prominent platforms that are Meta Trader 4, Meta Trader 5. Let’s get into the further details of these trading platforms in this FxPro Review.
FxPro cTraderFor those traders who want to trade with raw spreads, FxPro provides them with their in-house cTrader platform. There are tons of features that it has offered to its traders, with this platform, such as depth markets, algorithmic trading, and VIP services are available. Whereas, in this platform, there are no fixed spreads, and there is a lot more than it has to offer.
FxPro EdgeIt is the far more advanced level that FxPro has to offer to its traders. Edge is the platform where you can trade and enjoy the flexibility of Spread Betting while taking the fullest advantages of the tightest spreads across the whole platform with all six assets that it offers. The good news is that everything with this platform of trading is provided tax-free. It is a web-based platform that enables the traders to place their orders directly without any need to download the software etc.
FxPro MT4FxPro provides MT4 as one of their trading platform, which is known as the world’s most prominent trading platform, which is adopted by many of the brokers around the globe. It provides a variety of features like a charting package with a wide array of technical indicators. Also, it has language-customization, which is why traders are widely using it across the world in different countries with different languages. It does also allow automation trading with the use of Expert Advisors (EAs) to help traders execute a trade when they’re manually not able to do it due to any reason. MetaTrader 4 is available in a desktop version and is available for different operating systems such as Windows, Linux, and MacOS. If you use desktop a lot, this is the best choice of the trading platform.
FxPro MT5It is the upgraded version of the sibling MT4, which already has gained a lot of prominence in all over the world in terms of trading platforms. However, MT5 has upgraded and added additional features such as in-depth markets information, more time frames, etc. So, even this one isn’t an exception if you’re experienced.
Mobile TradingWell, as technology has advanced, the needs of people have been too. People don’t want to miss anything even if they are on the move, which is why FxPro has offered you the mobile trading platform. It is merely the mobile versions of those platforms that we’ve seen before that FxPro offers. These apps are available on the App Store and Play Store for free of cost. Just install the apps in your Smartphone and start trading in the palm of your hands.
FxPro Account TypesFxPro offers 3 main account types that include, Demo, Standard, and Premium. Let’s elaborate them in this FxPro Review and see what they’ve got for you. Demo Accounts: In demo accounts provided by FxPro, you don’t have to pay even a single penny. You’ll have access to all the platforms such as MT4, MT5, and cTrader, in which you’ll have approx $500,000 in your account and get started with trading with all the available resources and services. Basically, these accounts are provided for practice and learning. You can make your strategies, learn enough and then implement them in your live accounts. Standard Accounts: FxPro provides live accounts with standard services and features in 3 different categories; MT4, MT5, and cTrader. MT4 and MT5: In these account types, you require $500 at least for an initial deposit, and leverage is 1:500, EAs are supported. You can trade with the instruments such as Forex, Future markets, Energies, Metals, and Indices. Besides, there are lots of more features that you can use with this account type. cTrader: Here, you require $1000 at least for an initial deposit, and leverage is 1:500, EAs are supported. You can trade with the instruments such as Forex, Future markets, Energies, Metals, and Indices. Besides, there are lots of more features that you can use with this account type. Moreover, in this one, cRobot is active and supported as well. Premium Accounts: Speaking of premium accounts, FxPro offers VVIP account but for those with the initial deposits of $50,000. It is for those who actively trade large volumes and amounts. VVIP clients benefit from free VPS service, zero deposit fees, trade recommendations, exclusive news reports, and margin level alerts via email and SMS.
FxPro Demo AccountWith FxPro, you may feel it disturbing, but fortunately, FxPro demo account is available to start with. You can test the features and let yourself out of any difficulty in the platform before you start the investment. According to Fx Pro review, it is
- The UK and international award-winning
- Risk-free process
- List of global currencies
- Easy to set up
FxPro Features OpinionsDo you really know what you can do with Fx Pro? As you already noted that FxPro review has made it clear that broker is involved in the Forex trading field for more than a decade. It shows that the company has made an armoury of products and features that have formed upon and changed through the years. The FxPro CFDs offering expands above 200 markets with trading opportunities that are available in:
Commissions and SpreadsA mixture of commissions is available here that a trader has to pay for the different FxPro accounts. For example, the cTrader account holder will have to pay the commission of $45 on $1 Million trade. However, there is an average that we have compiled below for your convenience to understand.
Instruments Spreads (in Pips)
EUR/USD 0.3 pips
GBP/USD 0.7 pips
USD/JPY 0.5 pips
USD/CAD 0.8 pips
AUD/USD 0.8 pips
NZD/USD 1.2 pips
EUR/GBP 0.6 pips
EUR/JPY 0.4 pips
GBP/JPY 1.9 pips
GBP/CHF 0.7 pips