FxPro – Overview of the forex and CFD trading platform. Reviews of traders

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FxPro – Overview of the forex and CFD trading platform. Reviews of traders

вњ… This Trading Platform is available in Russia

Overview of prospective financial brokers: FXPro

If you analyze the algorithm for finding a trading platform for entering the world financial market, when a novice trader does this and compare this procedure with the methods of a professional, you can see a significant difference between the actions of these subjects who decided to make money using online trading.

The newcomer pays attention to:

в—Џ The amount of profit the broker promises to his clients.

в—Џ Feedback from other users.

в—Џ The amount of seed capital needed to operate on the platform.

в—Џ Available financial assets and transactions for transactions.

в—Џ How much of this broker is a participant in the global financial market.

Experienced traders, listed indicators to draw up a general objective picture of the broker that interested them, of course, is not enough. They connect their own sources of information (which are almost never mentioned on the Internet), they often find colleagues who have personally studied the pros and cons of the company, and also try to determine the percentage of the broker’s obligations to his clients. But this method involves working with unverified data, it contains personal (subjective) assessments of other users, and for newly created trading platforms, it is usually not effective.

Given the above information, with the example of the popular financial broker FXPro, we will conduct a small sequential analysis, which both novice and experienced traders can use as a template for assessing the performance of virtually any participant in the global financial market.

How FXPro works and how the platform can interest potential customers

The presented company started its activity in 2006, and for more than ten years of its existence it has gained the reputation of a reliable and safe broker, who always fulfills its obligations. The web-site of the trading platform works in English, Russian, Chinese, Arabic, German, Spanish, French and other languages, which allowed the broker to become a well-known participant of the financial market in 150 countries. Support of constant dialogue with the company’s clients helps the administration of the resource to introduce a wide variety of innovations that contribute to the comfortable work of traders and the ability to analyze the situation in the financial markets, which has a positive effect on the reputation of the broker represented.

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Security of traders

Only during the last 3 years the presented company has won five prestigious awards and more than ten prizes of less significant contests confirming that it is the best Forex broker in this field of activity (one of the arguments that testify to the reliability of a participant in the world financial market for potential users).

The investments of the broker’s clients are not only insured, but also stored on the accounts of such serious financial and credit institutions as Barclays PLC, RSB and Bank of America (any student of an economic institution will confirm that the traders’ savings are in safe hands). We also need to remember that the broker is a sponsor of English football clubs and a partner of the legendary McLaren F1 team.

Effective work and instant execution of all necessary operations is carried out using MetaTrader 4, MT5 and its own flagship platform, and not the least role in this matter is played specially created for FXPro application.

The entry of this broker into a global holding company, of which the most powerful financial companies are members, will be sufficient for any economist not to doubt the safety, reliability and 100% fulfillment of their obligations to customers. Its participants are:

в—Џ FxPro Financial Services Limited

в—Џ FxPro Global Markets MENA Limited

в—Џ FxPro Global Markets Limited

в—Џ FxPro UK Limited.

Control of the activity of the broker

The company in question, with headquarters in the UK and Cyprus, is controlled by the Cyprus Commission on Exchanges and Securities, as well as by the FCA, which since 2020 is one of the UK’s major financial regulators. This, in the opinion of even novice traders, is enough to register on the FxPro account, and then quietly conclude deals, without fear of a trick / deception from the side of the broker.

В Training

The web-resource has useful training materials for both novice traders and experienced broker clients who plan to use the available information with maximum benefit (analysts’ reviews or possible directions of the world economy development, after some resonant events), political / economic news, in order to make as accurate as possible forecasts and conclude relevant transactions.

It is also possible to pass a practical training course on this marketplace. After registering the account, you can open a demo account on FxPro and see for yourself how the trade goes on, deals are concluded, the income of traders is calculated, and so on.

Limitations set by FxPro

Each participant of the world financial market has its own rules and requirements that the client of this broker must comply with, regardless of length of service or other individual indicators. If you follow the most common about FxPro reviews, you can highlight the basic requirements of the administration resource, which are mandatory for all.

Trading conditions

в—Џ The minimum deposit amount is $ 100.

в—Џ The account is $ 10.

в—Џ There are different accounts for beginners / advanced users.

в—Џ You can use the automatic trading service.

в—Џ Account currency: American and Australian dollar, euro, British pound, Japanese yen, Swiss franc and Polish zloty.

в—Џ There is a demo account.

в—Џ A 24-hour support service is available, both on technical and financial matters.

в—Џ A profitable partner program functions.

Available financial transactions and assets

Many prepared by FxPro user reviews claim that this platform satisfies 100% of all not only the average traders, but also their more experienced colleagues. On this resource you can: conclude deals with currency pairs, liquid commodities, shares of large enterprises, as well as CFD on key financial instruments.

Deposit / Withdrawal of money

In order to replenish a trading account or withdraw some of the money earned, the resource administration suggests using:

в—Џ Plastic cards of financial and credit institutions;

FxPro Forex Broker Review

Last Updated: March, 2020.

In many industries, size, experience, and expertise matters, and FxPro.com has it all in spades. It has always been a leader in the forex industry since 2006, and, as such, it has distanced itself from the pack in every way possible. The firm’s greeting page speaks to class and breadth of service by first requesting the visitor to choose from 20+ languages before accessing the their many service offerings. FxPro is definitely in the top tier of global forex brokers, with a large global footprint, broad client base, and high volume turnover. FxPro Group Limited is the holding company of FxPro Financial Services Ltd, FxPro UK Limited, FxPro Global Markets MENA Limited and FxPro Global Markets Ltd.

FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration no. 509956). FxPro Global Markets MENA Limited is authorised and regulated by the Dubai Financial Services Authority (reference no. F003333). FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 078/07) and authorised by the Financial Sector Conduct Authority (‘FSCA’) (authorisation no. 45052). FxPro Global Markets Ltd is authorised and regulated by the SCB (license no. SIA-F184).

Everything about the company is a testament to its current leadership position in the industry. Awards from prestigious organizations number 60+ and span the previous decade for such things as Best FX Broker, Best FX Service Provider, Best Trading Platform, Best FX Tools, Best FX Service, and more. The firm serves clients in over 170 countries worldwide, and regulatory bodies in both the UK and Cyprus provide oversight, while compliance with MiFiD is also in place for all of the Eurozone. Trust is not an issue with this firm. Full transparency and best business practices are standard. The firm provides a wide range of trading options and is always searching for new, innovative ways to use the latest technology to enhance your overall trading experience.

FxPro is staffed with over 200 employees to serve your interests. Favorable testimonials abound, and the firm is very active in local communities, sponsoring many high level teams, like Watford FC in the English Premier League, to a variety of other sporting ventures across the globe. According to John Hughman, Editor at Investors Chronicle, “FxPro has out shone the competition in 2020 with its breadth of trading tools and platforms purposely designed to help retail and institutional investors trade the FX markets more successfully. The feedback from readers showed that investors are true believers that the firm goes that extra mile to protect its clients and provide them products and services aimed at making them profitable.” Unfortunately, U.S. clients are not accepted at this time.

From August 1st 2020 new ESMA rules regarding stop levels and leverage will come into effect. You can read more about the stop levels and leverage here.

Is FxPro Safe to Use?

All client funds are segregated from operating capital in Tier-1 accounts with major global banks.

FxPro Account Types & Deposits

FxPro offers MT4 account types with Instant or Market Execution, and also a Fixed Spread option.

MT5, cTrader and Supertrader accounts are also provided with Market Execution.

All orders are executed with No Dealing Desk (NDD) operation.

Free unlimited Demo Accounts are Available.

No U.S. clients accepted.

Beginner Trader Support with FxPro

FxPro is committed to quality and providing the highest standard for customer support. Each rep has been expertly trained to handle a wide assortment of issues and to get you going quickly on to your path for success, 24 hours a day, 5 days a week.

FxPro offers dedicated support in 25+ languages.

New brand product of 2020 – Educational section on the official website: fxpro.com/help-section/education All information is presented in the form of cards with text, picture or other media. New topics, as well as tests and trading checklists are added every week.

Advantages of Trading with FxPro

  • 70 currency pairs, 55 shares, 20 futures, 24 spot indices, 7 spot metals, 3 spot energies , as well as crypto coins are available to trade.
  • No dealer intervention;
  • Tight spreads, high liquidity, no slippage on Instant Execution and no re-quotes on Market Execution;
  • Metatrader4, MT5 and cTrader platforms offered and FXPro Edge;
  • Usage of automated Expert Advisors and scalping strategies permitted;
  • Trading platforms can accommodate a host of environments, and each provides mobile trading apps;
  • Accounts may be held in EUR, USD, GBP, CHF, JPY, PLN, AUD, ZAR (FxPro Financial Services Limited); EUR, USD, GBP, CHF, JPY, PLN, AUD (FxPro UK Limited); EUR, USD, GBP (FxPro Global Markets MENA Limited); EUR, USD, GBP, JPY, AUD (FxPro Global Markets Limited)
  • All customer deposits are segregated in Tier-1 accounts with major banks, and further covered by the local Investor Compensation Scheme up to a total of 20,000 EUR;
  • Negative Balance Protection;
  • Fast and convenient Deposit/Withdrawal options exist using payment cards, wire transfer, or other local payment methods;
  • Daily market commentary, network sharing, and technical analysis support ensure that decisions are based on timely information;
  • Customer Service representatives are on duty “24X5” and cover 20+ languages at present;
  • The FxPro Educational section includes materials ranging from webinars, to cards-designed free courses;
  • The FxPro.News blog contains daily updated authors’ analytics and technical analysis tips.

FxPro Mobile Apps

FxPro team determined which elements of trading technology were used most frequently by their clients and created “FxPro Tools” – a very useful browser extension for Chrome, Safari, Mozilla and Opera. FxPro Tools offers real-time quotes, economic calendar, daily insights and analysis as well as FxPro Calculators that allow users to work out the required margin, pip value and swaps along with performing live currency conversions.

The desktop version is available at fxpro.com and the mobile applications for iOs and Android are available to download on mobile devices.

Another high-end application is “FxPro Direct” – the trading account management app. At its core is the FxPro Wallet, which keeps the clients’ funds from participating in the trading process and safe from market risks. It can be topped up via a Bank Transfer, Neteller, Skrill, NganLuong or Bank Cards. All these payment methods have 0% commission.

Both mobile applications are connected by internal easy-to-use transition buttons.

FxPro Trading Platform

FxPro allows you to choose your preferred operating environment. In addition to the highly popular Metatrader4 set-ups, the firm also offers MT5, FxPro Edge and cTrader. Additional support is also provided for the trader on the go by means of mobile applications for the iPhone, iPad and the Android devices.

FxPro Review Conclusion

A veteran management team of financial experts created FxPro in 2006, and they have never looked back. Their platforms now process over 5,000 trades per second, and 99.9% of all orders are executed within 50 milliseconds. The firm has won multiple awards for its expertise and leadership in the foreign exchange industry since it entered the fray, and regulatory compliance and best practices are always the rule. As their mission states, “FxPro’s mission is to provide superior trading services for all clients, irrespective of the size of their account balances; to educate people about the markets, empowering them to take control of their finances by making forex accessible to all; and to promote transparency and fair trading practices by leading the way and campaigning for their adoption across the entire industry.” FxPro has definitely achieved elite status, such that, if you strive to be with the best, then FxPro may be the broker for you.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

FxPro Review

A wealth of choices in trading markets

Investopedia is committed to rigorous editorial standards to provide our readers with the best advice and recommendations. We may receive compensation when you click on links to products we reviewed. Learn more about our methodology and review process.

  • Account Minimum: $500
  • Fees: EUR/USD 0.5 to 1.5 pips
  • Best for: A variety of currency pairs to choose from

FxPro is in the CFD and Spread Betting market in the U.K. and was founded in 2006. Since then the company has executed more than 250 million orders and was voted the U.K.’s most trusted Forex brand by Global Brands Magazine in 2020. Today the company operates in 173 countries and has more than 870,000 client accounts and €100 million of Tier 1 capital. FxPro says they are well‑known throughout the industry as a trustworthy and reliable broker. They are regulated by the FCA, CySEC, FSCA, DFSA, and SCB.

Above average product offering

Relatively high fees

No anonymous demo account

Weak educational platform

Trust

FxPro scores quite well when it comes to reputation and trustworthiness. Most importantly, they are regulated in the United Kingdom, which is reputedly safer than some regulators in the EU. FxPro also advertises that they have one of the highest counterparty credit ratings in the industry, scoring 95 on a hundred point scale, where a high score indicates a lower risk of default or bankruptcy. They also participate in the Financial Services Compensation Scheme (FSCS) that allows clients to claim compensation in the event FxPro were to become insolvent. They offer clients negative balance protection under new EU guidelines that prevent clients from losing more money than they have deposited.

One negative for FxPro is the absence of guaranteed stop‑loss orders. Some brokers offer this feature for a fee, but this is not offered by FxPro at all.

Desktop Experience

FxPro offers clients a wide range of desktop trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge. The desktop browser experience is in line with the industry average and allows traders to easily execute trades with clear and transparent pricing. Charting is also available with various indicators and studies. Traders can also create customizable watchlists and leave conditional orders, but hedging is not possible on MT 5 and will simply cancel offsetting orders.

FxPro allows traders to see other clients’ positioning, which gives a sense of market positioning. Simulated demo‑account trading is available but only after providing personal identification documents. One big advantage is that FxPro provides traders with a real-time audio squawk box that alerts them to market moving events. There is also a running news feed with the latest market headlines and a link to Trading Central WebTV.

Mobile Experience

FxPro has a good mobile offering with the app available in both iOS and Android. Security features are standard, with the option to replace the login with an Apple’s Touch ID. Watchlists are easily customizable and it is also possible to have multiple lists.

Mobile price alerts are available. Traders simply need to select the instrument, decide which price to alert (bid or ask) and then choose to alert when the price is higher or lower than a selected level. The trader can even create a customized pop‑up message to deliver as well.

Unlike other brokers, FxPro offers streaming mobile news with major news headlines that can impact markets. This allows traders to follow market developments on the go in real‑time. Conditional orders are easy and straightforward to set up with various types on offer. Traders can choose between market, limit, stop, and stop‑limit orders. Traders can also specify when the order will expire, providing another degree of control.

Finally, FxPro has an acceptable mobile charting offering. Traders can choose multiple time frames to monitor and can easily add multiple trading indicators, such as moving averages. After setting up a chart, the mobile app allows traders to easily trade from the chart, with easy trade sizing and buy and sell directional orders.

Research Tools and Insights

FxPro’s research and insights tools are above average for the industry. Like many brokers, FxPro offers a macroeconomic calendar to track important releases that can impact markets. They also offer some basic daily fundamental research and work with Trading Central to offer technical analysis. Two areas where FxPro has an advantage over other brokers are its multilingual webinars available on the company’s YouTube channel and the quality of its real-time news offering. These tools seem to be available even for traders who do not have an account with FxPro.

Education

Educational products are one area where FxPro is below the industry average. There seems to be an absence of information about basic concepts of forex and CFD trading. Most other sites have a specifically designated education center, but FxPro lacks these tools. Instead, they have a YouTube channel with some educational videos that are disorganized and difficult to find. Moreover, some videos are quite old and in need of a refresh. FxPro does provide a glossary of CFD terms, which is not something every broker provides.

Special Features

FxPro offers traders algorithmic trading through cTrader, which is an advanced algo and technical indicator coding application that allows traders to create and build algorithmic trading strategies and custom indicators. FxPro also offers a Virtual Private Server (VPS) that enables clients to upload and run MT4 Expert Advisors and algo bots 24 hours a day, without needing to keep a trading terminal running. These applications also allow for backtesting of trading strategies.

Investment Products

FxPro scores above average in terms of available investment products. The company offers 70‑plus forex pairs as well as more than 150 different equity shares, cryptocurrencies, futures (which is unusual), commodities, and stock indices. In total, this broker claims to have more than 250 instruments available to trade. This should provide clients with ample opportunity to trade various markets that are interesting to them. They also offer trading in both CFD and spread betting. Spread betting can have tax advantages for U.K. clients.

Commissions & Fees

Like many brokers, FxPro has no commissions on most trades. One thing they advertise is the lack of an expensive dealing desk, which allows them to pass on cost savings to clients. FxPro says that due to the high volumes of their clients’ trades, they can internally match a great deal of their order flow. This allows them to minimize risk and costs without interfering with orders in any way. Other fees are more onerous, however, and FxPro does not seem to offer any discounts for higher volume traders. Traders also may need to pay up to 2.6% to withdraw funds if a withdrawal is required without having traded. There is a $15 dormant account fee after 12 months without trading activity, followed by a $5 monthly fee.

Customer Support

FxPro prides itself on its “five‑star customer service,” specifically its multilingual, 24‑hour Monday‑through‑Friday (24/5) customer service team. Their live phone support operates in several locations with a toll‑free number in the U.K., France, Germany, UAE, and Russia. Live chat is offered for both clients and prospective clients. Unlike other brokers, they have a physical office in London with a reception desk that is open from 7:30 a.m. to 4:30 p.m. Some social media support is available on Twitter, but this is mainly news related rather than specifically for customer support.

What You Need to Know

FxPro is best for forex and CFD traders who want a wealth of choices in trading markets. Their range of forex pairs and the ability to trade equity indices, cryptocurrencies, commodities, and futures set them above competitors in the space. On the other hand, more frequent traders and professionals may find the fees eat into their profits.

Methodology

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

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