FXPro Review and Tutorial 2017

FXPro Facts & Figures

FxPro are an industry leading broker. Originally CFD Forex specialists, the firm now boast CFD trading in 5 asset classes, though Forex remains the main strength.

Demo AccountYes
Min. Deposit£100
Min. Trade$2
Regulated ByFCA (» FCA Details)
MT4 IntegrationYes
Signals ServiceYes
Mobile AppsYes
CFD
FTSE Spread0.7 Pts Var
GBPUSD Spread0.9 pips
Oil Spread0.05 pips
Stocks Spread0.2% Var
Forex
GBPUSD Spread0.9 pips
EURUSD Spread0.6 pips
GBPEUR Spread0.7 pips
Assets69
Risk Warning – Your Capital is at risk

Founded in 2006, FxPro is an online forex broker brand offering a free demo account and integration with several popular trading platforms like MT4 and MT5. FxPro are regulated both in the UK, by the FCA, and in Cyprus, by CySec, which means great protection for traders.

Trading Platforms

One of the key attractions that FxPro is well known for, is the wide selection of trading platform which they have provided their traders with. There are 4 main types of trading platforms to choose from namely the MetaTrader 4, the MetaTrader 5, the cTrader and the FxPro Markets platform.

MetaTrader 4 Platform

Often referred to as the MT4 platform, the MetaTrader platform is the most widely adopted trading platform by traders from all over the world. The MT4 trading platform comes with a comprehensive set of trading tools that a trader can use to gather all the required information for making his trading decisions. Its advantages include the following:

MetaTrader 5 Platform

The MetaTrader 5 or MT5 platform is an updated version of the popular MT4 platform. It also comes with the same powerful features as its predecessor, but with upgraded features as well. Its main advantages include:

FxPro cTrader

An innovative platform designed specifically for Electronic Communication Network (ECN) trading, the cTrader platform enables FxPro to trade spot forex and spot metals with interbank rates. Essentially user friendly, its main features include:

FxPro Markets

Designed exclusively for web and mobile trading, the FxPro Markets platform allows its users to multi task without having to exit from the trading platform. With the FxPro Markets platform, a user can create an account, fund it and trade all within the trading platform itself. Key benefits of this platform include:

FXPro login homepage

Regulated in UK and Cyprus

In terms of regulatory oversight, FXPro’s operations come under the purview of 2 separate regulatory bodies, the FCA and CySEC. Operations in the UK are managed by FxPro UK Ltd which is regulated by the FCA under registration no. 509956. For operations in Europe, managed under FxPro Financial Services Ltd, the broker is authorized under the CIF license #078/07. In addition, FxPro is also regulated by the Financial Services Board (FSB) under the authorization no. 45052 for its operations in South Africa.

The benefits of being regulated by the FCA and CySEC are twofold. First of all, traders can be assured that FxPro operates with transparency and within the regulatory requirements imposed by the FCA, CySEC and FSB. Secondly, for clients in UK and Europe, their trading funds are further protected under the Investors Compensation Scheme (CySEC) and Financial Services Compensation Scheme. The maximum amounts which FxPro’s traders can claim under the above mentioned schemes are €20,000 and £50,000 respectively.

Mobile Trading

With mobile devices getting more popular nowadays, FxPro has also made it a point to cater for traders who wish to trade from their mobile devices. Apart from the mobile trading apps for the MT4 platform and cTrader, FxPro has also offered additional tools which mobile traders can download and install onto their smartphones or tablets.

One of these extra tools is an economic calendar that will provide mobile traders with information about the soon to be released economic data that will impact the markets. In addition, with the mobile trading apps, mobile traders are also able to view real time price quotes from the various markets such as forex, commodities and futures. In short, FxPro has managed to bring financial trading right to the palm of the trader.

FXPro mobile app

Trading Instruments & Spreads

The range of markets covered by FxPro include asset classes such as forex, equities, energies, futures, market indices and spot metals. Spreads are competitive and can be either fixed or floating.

The minimum spreads on some of these assets also depend on the type of trading platform used. For example for the benchmark EUR/USD currency pair, the minimum spread enjoyed by users of the MT4 and MT5 instant platform, is 0.6 pips as opposed to 1.2 pip for those traders using the FxPro Markets platform. For traders trading with fixed spreads, the spread for the EUR/USD can range from 1.6 pips to 2.5 pips depending on the trading time.

Accounts

Trading accounts at FxPro are categorized into 3 main categories, Standard trading accounts, Premium accounts and Demo account.

Standard Accounts

Standard accounts are available in the following types:

FxPro MT4

1:500 Leverage
CFDs on Forex, Energies, Futures, Indices, Metals,
Dynamic Leverage
Floating Spreads
Market execution
EA supported

FxPro MT5

1:500 Leverage
CFDs on Forex, Energies, Futures, Indices, Metals,
Dynamic Leverage
Floating Spreads
Market and Instant execution
EA supported

FxPro cTrader

1:500 Leverage
CFDs on Forex, Energies, Futures, Indices, Metals,
Dynamic Leverage (Spot Indices excluded)
Floating Spreads
Market and Instant execution
cTrader Robots supported

FxPro Markets

1:500 Leverage
CFDs on Forex, Energies, Futures, Indices, Metals,
Dynamic Leverage (Spot Indices excluded)
Floating Spreads
Market and Instant execution

The minimum initial deposit requirement for MT4 and MT5 traders is $500 and $1000 for cTrader platform users. Nevertheless, traders are permitted to deposit as little as $100 at a time.

FxPro Premium Accounts

Premium accounts are provided to cater for high net worth individuals. In order to qualify for a Premium account status, a trader must deposit a minimum $50,000 into his trading account. The key advantage of premium accounts is the fact that the accounts are designed for large volume trading, at a more competitive rate. In addition, premium account holders also get to enjoy a wide range of exclusive perks that will supplement their trading skills.

FxPro Demo Account

For potential traders who wish to try out what FxPro has to offer, the broker has also made available demo account that come with a maximum practice balance of $500,000 in virtual cash. The demo account are free of charge and are available for the MT4, MT5 and cTrader platforms.

Deposit & Withdrawal

For deposit payment methods options, FxPro supports the following methods of fund transfer: wire transfer, credit / debit card (Visa, Mastercard etc), a range of ewallets (Skrill, Neteller and Paypal) and some region specific options such as Union pay, eprotections and WebMoney.

Withdrawal requests are typically processed within one business day. However the actual fund transfer may take as low as 3 to 5 days.

Extra Features

In terms of extra features, FxPro has a range of trading tools to help make their traders’ life easier. These extra tools consist of the following:

Trading tools such as the earnings and economic calendars helps traders to keep track of upcoming events that will have a bearing on prices in the markets. With providing calculators, traders can easily compute their profitability and trading costs. For 24/7 trading ability, traders at FxPro can make use of the VPS to upload their expert advisors hence enabling them to trade around the clock without any interruption. To date, the range of tools provided by FxPro is the most comprehensive that we have seen any broker provided to their clients on a free of charge basis.

Customer Support

The customer support service at FxPro is comprehensive and professional. Traders can get in touch with the support team through a variety of methods such as email, live chat or telephone. For telephone support, traders also have the added benefit of localized and multi-lingual support for over 25 countries, including:

Arab Emirates, Argentina, Australia
Brazil, China, Colombia, Cyprus, Czechoslovakia
Germany, Hungary, India, Indonesia, Italy
Japan, Malaysia, Portugal, Russia
South Africa, Spain, Switzerland, Thailand, UK.

Company Facts

The brand FxPro is  managed by two different subsidiaries under the names FxPro UK Ltd and FxPro Financial Services Ltd, with the former under the jurisdiction of the UK’s Financial Conduct Authority (FCA) and the latter under the oversight of the Cyprus Securities Exchange Commission (CySEC). The broker’s head office is located at 13/14 Basinghall Street, City of London, while the administrative office is located at #26, Boulevard Des Moulines, Monaco. FxPro also maintain an operational head office at Kryatidon 1, Ypsonas 4180, Cyprus.

Conclusion

On the whole, FxPro has managed to cater to all categories of traders. Regardless of whether you are a beginner or an experienced trader or even a high net worth individual, FxPro will be able to meet your specific trading needs. In addition, with FxPro being a regulated in 3 different jurisdictions, you can be assured that your deposited funds will be handled in a professional and ethical manner.

FxPro are an industry leading broker. Originally CFD Forex specialists, the firm now boast CFD trading in 5 asset classes, though Forex remains the main strength.