Your capital is at risk Founded way back in 2006, FxPro is indeed one of the oldest actors of the Forex/CFD scene. Being around in this industry for more than a decade is not just proof of integrity and business model validity. It has also allowed the brokerage to build on experience, developing a global client-centric approach and obtaining all the necessary paperwork for a truly impressive regulatory profile.
Over the years, the company has focused on staying at the cutting edge of technology. Testimony to its success in this regard is provided by the more than 50 UK and International awards, that were granted by various organisations, publications and magazines. Some of these distinctions were awarded to the brokerage several years in a row.
In addition to giving their traders access to an impressive range of markets and trading instruments, through some of the best and most popular trading platforms, FxPro also feature outstanding support as well as an education section, the goal of which is to train their clients for success.
UK-based clients of the operator have access to spread betting too, in addition to the regular offer of Forex/CFDs.
FxPro Regulation
As already alluded to above, the regulatory situation of the brokerage is rather enviable. Indeed, various subsidiaries of the FxPro brand possess licenses from- and are regulated by some of the most exigent and trusted national/international regulators.
The home-turf flag-bearer of the operator is FxPro UK Ltd. The company is regulated by the FCA, under registration number: 509956.
In Cyprus, FxPro Financial Services Limited is licensed and regulated by CySEC. The license number is 078/07. The operation is authorized by the Financial Services Board too, under license number: 45052.
FxPro Global Markets MENA Ltd, is the brand’s corporate face in the UAE. The brokerage is authorized and regulated by the Dubai Financial Services Authority. FxPro’s registration number is F003333.
Furthermore, FxPro Global Markets Ltd. is also authorized by the SCB, under license number SIA-F184.
The above makes it clear that in addition to being compliant with the requirements of a number of offshore financial authorities, FXPro are also MIFID-compliant, and are therefore able to legally peddle their services throughout most of the EEA. Traders from countries like the US, Canada and Iran are not accepted though.
From August 1st 2018 new ESMA rules regarding stop levels and leverage will come into effect. You can read more about the stop levels and leverage here.
Why exactly should you make FxPro your primary trading destination?
The site offers a massive selection of account types and the trading conditions are great on some of their tradable assets too. The maximum available leverage is a respectable 1:500, and for some traders, that is quite significant indeed.
In most cases (on the MT4 and MT5 platforms) there are no commissions charged. The broker collects its revenues through a small spread-markup. In other cases, the commission is so small that it is indeed quite negligible ($45 per every $1 million traded, upon position-opening and a further $45 on position-closing). These commissions are charged on cTrader. The good news is though that on cTrader, the spreads on major currency pairs such as the EUR/USD start from 0 pips.
The execution offered by the broker features no dealing desk intervention. It is slippage-free as well as award-winning.
No fewer than 6 CFD classes are currently offered, covering Spot Metals, Futures, Spot Indices, Spot Energies and even Cryptocurrencies.
Account Types
The account types offered by FxPro are broken into three categories: Demo Accounts, Trading Accounts and Premium Accounts.
Indeed, when we’re talking about Demo Accounts, there isn’t just a one-size-fits all deal thrown out there. Traders can select the platform on which they want to trade, the account currency, the leverage as well as whether they want to trade through the UK- or the international version of the brokerage.
Moving on to Trading Accounts, we have 4 different options.
The FxPro MT4 account features fixed as well as floating spreads. Dynamic leverage up to a maximum of 1:500 is supported, together with EAs.
The same goes for the FxPro MT5 account, with the difference that the spreads are all floating on this one.
The FxPro cTrader account does not support MT4 and MT5-style EAs. Instead, it allows cTrader robots through cAlgo.
The FxPro Markets account does not support any kind of automated trading. The minimum required deposit for these accounts is just $100, so the whole experience is indeed a very accessible one.
Premium accounts are aimed at high-volume traders and they obviously offer a series of advantages, like access to dedicated account managers, a free VPS service (which is indeed great for EAs), no fees on Deposits/Withdrawals, daily market analysis and exclusive events. Those interested in registering a Premium Account have to contact FxPro support.
Scalping and hedging are both supported.
In addition to all the above, FxPro offer an Islamic Trading Account option as well.
Trading Instruments
The broker offers scores of currency pairs. They have their fiat/crypto pairs included in their Forex section – which does indeed make sense. As far as cryptos are concerned, BTC, ETH and LTC are currently supported, more precisely the pairs that the three make with the USD. Detailed trading conditions are available for every one of the supported pairs at the FxPro website.
It is worth noting that you will not be able to purchase cryptocurrencies through FxPro. The above described instruments are CFDs, derivatives which do not trade directly in these currencies.
Futures trading is commission free. These derivatives cover major indices, agricultural commodities and energy.
Indices, Shares, Spot Metals (covering Gold and Silver) and Spot Energies are also in the mix.
Trading Platforms
The trading platform selection brought to bear by FxPro is nothing short of impressive.
In addition to MT4, the broker also offers MT5 as well as cTrader and the Markets Trader. On top of all this, there are mobile platforms made available through a Download Centre at the site. FxPro Edge is also part of the mix.
MT4 alone comes in several different versions. There’s a classic, desktop version, a WebTrader, a MultiTerminal version as well as mobile versions.
The FxPro website features a platform comparison tool, which lets traders determine the platform choice that best suits their needs, in an informed manner.
Special Trading Tools
To round out the platform offer, FxPro also gives its traders access to a number of specialized trading applications, like their FxPro Tools app, which is available for mobile platforms as well as in the shape of extensions for the most popular browsers.
FxPro Vault and the FxPro Wallet are personal money- and risk management tools, offered for free to all registered FxPro users.
The brokerage seemingly takes great pride in its Education section, which eases beginners into the flow of trading, one step at a time. User guides and videos are available by the score. Before they know it, beginners subjected to this virtual boot-camp will become experts in technical- and fundamental analysis.
The Bottom Line
Everything taken into account,. FxPro is indeed a superb trading destination. It is regulated, it offers a superb selection of trading accounts and platforms and its trading conditions are attractive.
The only possible downside to this whole deal is the fact that FxPro seem to be somewhat stingy with promotions.
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