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FxPro

Offering CFDs on a wide range of trading instruments, FxPro is one of the most successful Forex brokers in the world. It was founded in 2006 and is currently available to retail traders and institutional clients in more than 170 countries. Its website can be accessed in multiple languages while the company is regulated in most major jurisdictions, including Europe and the UK, the Middle East, and North Africa.

FxPro has more than 1.3 million client accounts and over the years, it has received over 60 accolades and international awards, including for the Best FX Platform and Best FX Broker. The company offers CFDs on more than 250 instruments across six asset classes. Clients can trade on four different platforms, including the MetaTrader suit, cTrader, and Edge. Moreover, FxPro boasts impressive execution times and is among the best NDD (No Dealing Desk) brokers, executing orders anonymously and within 11.06 milliseconds.

Regulation

A trustworthy and reliable broker, FxPro is a multinational company that has its headquarters in London. It has licenses from several regulatory bodies and is legally authorized to offer CFDs and spread betting on Forex, commodities, shares, and more in 173 countries around the world. FxPro Group Limited is the holding company of FxPro Financial Services Ltd., FxPro UK Limited, FxPro Global Markets MENA Limited, and FxPro Global Markets Limited.

Each of its subsidiaries operates in a different part of the world and holds a license by the local financial regulator. Through them, FxPro is regulated by the UK’s Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority in South Africa, the Dubai Financial Services Authority, and the Securities Commission of the Bahamas. Still, the website and the trading platforms it offers do not provide CFDs to clients from certain jurisdictions, including the USA, Iran, and Canada.

Trading Platforms

Platforms

PC / MAC

Smartphones

Tablets

MetaTrader 4
MetaTrader 5
MetaTrader 4 Multi Terminal
cTrader

To give its clients a wider choice of trading options and tools to do that, FxPro uses several different platforms, including the latest products in the MetaTrader suit, namely MT4 and MT5. In addition, it also offers cTrader, while UK-based clients can also register at the FxPro Edge platform.

The majority of traders will find the MetaTrader 4 the most convenient and familiar option. It is also the only platform offered by FxPro, which has both Instant and Market Execution, as well as fixed and floating spreads. It comes with a full suite of automated trading solutions or expert advisorSome clients may prefer the updated version, MetaTrader 5, but they should know that it lacks certain tools and functionalities. For instance, hedging positions is not possible on MT5 and fixed spreads are not offered.

Clients can choose the downloadable version (MT4 and MT5), the web platform WebTrader 4, or the mobile platforms for Android and iOS (MT4 and MT5). Another option is the MT4-based XM Multiterminal, which allows the simultaneous management of over 100 trading accounts from a single platform for CFDs, Forex trade, and futures.

FxPro also offers its clients to trade using cTrader, which is also very popular among traders due to its relative user-friendliness, great functionality, and obviously improved visuals and interface over the MT4 platform, which is a decade old already. In fact, cTrader is widely considered to be the best trading platform right now, although that would be up to personal preference – cTrader provides extremely fast execution, as well as the Direct Market Access (DMA) functionality. The DMA allows traders to submit buy and sell orders to the exchange without having to go through an intermediary.

Edge is a new web trading platform introduced by FxPro and it providers clients of the broker with a new way to trade – spread betting. It is currently available only to UK-based traders, however. The web platform is customizable and allows trade on Forex, shares, spot indices, spot metals, and spot energies. It has tight spreads and no commissions, but more importantly, traders can open a Limited Risk Account and make sure they will never lose more than their initial deposit.

Payment Methods

FxPro supports a good range of payment methods, including popular credit/debit cards and e-wallets. To provide its clients with more convenience, it processes payments in multiple currencies – USD, EUR, GBP, CHF, PLN, JPY, and AUD. The recommended minimum deposit amount is US$500. The broker does not charge any fees on deposits or withdrawals, although a 2.6% fee would be incurred if traders request a withdrawal without having traded from their account.

The availability of the different banking methods varies, depending on the client’s country of residence. Traders based in the United Kingdom or the United Arab Emirates, for example, can deposit and withdraw funds from their FxPro trading account using only bank transfer and credit and debit cards by Visa, Mastercard, and Maestro.

Clients in Europe and other parts of the world have a few additional options to the standard bank transfers and credit/debit cards. They can also make a deposit and withdraw funds from their FxPro account using a digital wallet. Currently, there are several options available on the trading platform, including Skrill and Neteller. In addition, they can choose to pay or receive their funds using UnionPay, which from a locally available payment processor in China quickly became a globally recognized way to pay in a fast and secure way.

Another convenient tool is FxPro Wallet, which allows clients to instantly transfer funds between their MT and cTrader trading accounts. It works like a standard Cashier but it helps traders limit their risk by storing a portion of their funds. Rather than spending their entire deposit clients can simply store some of the money into the wallet.

BrandMinimumFeesProcessing Time
$500No Fees1-5 business days
$500No Fees1-5 business days
$500No Fees1-5 business days
$500No Fees1-5 business days
$500No Fees1-5 business days
$500No Fees1-5 business days
$500No Fees1-5 business days
BrandMinimumFeesProcessing Time
-No FeesOver 3 days
-No FeesOver 3 days
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-No FeesOver 3 days
-No FeesOver 3 days
-No FeesOver 3 days
-No FeesOver 3 days

Account Types

FxPro does not offer a wide variety of trading accounts besides the accounts required to use the different platforms. Therefore, clients can open an MT4, MT5, a cTrader or an FxPro Edge account. Those who choose to use the MT4 platform can opt for Instant Execution or Market Execution, which is rarely offered by the vast majority of brokers. The other platforms feature Market Execution.

Fixed Spread is not available to MT5 users but only floating spreads. Another difference that should be taken into account is the trading cost – those who open a FxPro cTrader Account will need to pay $45 per $1 million traded (upon opening and closing a position) on Forex and metals. There are no commissions on futures and indices. Spread Betting Accounts are also available to UK-based traders who decide to register on the FxPro Edge trading platform.

The leverage for retail clients is 1:30, while for professional clients, it can reach 1:500. Corporate, joint, and swap-free (Islamic) accounts are also available. However, most of these options are only offered after contacting customer support.

Along with these Live Accounts, traders have to opportunity to test the FxPro and its platforms by opening a free Demo Account. The Demo Account is available to everyone and it resembles the actual, real-money accounts – clients receive a balance between $500 and $500,000. The maximum leverage for a Demo Account is 1:30, the same as in regular live trading accounts.

Support

The multi-lingual support and interface of FxPro is a good indication for a top-quality broker with a truly global presence. The site itself is available in English, French, German, Arabic, Chinese, Czech, Greek, Hungarian, Italian, Japanese, Korean, Malaysian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Thai, Turkish, and Vietnamese.

The Customer Support Department can be contacted at any time of the day or night during weekdays. Clients can request a callback or call the support at 08000 463 050 (toll-free for UK-based traders). The broker also has a Global Support-dedicated phone line in English and it is +44 (0) 203 151 5550. Local support phone numbers are also available. Of course, clients can send emails at support@fxpro.com or contact the support agents directly via the Live Chat.

Conclusion

Since it was founded more than a decade ago, FxPro has grown into one of the world’s largest and most respected Forex and CFD brokers. It is licensed and regulated by not one but several major regulators and has an impeccable reputation for providing safe and reliable trading on a wide variety of instruments. The multiple platforms, tight spreads, and overall good pricing makes it a preferred FX and spread betting broker for millions of traders.