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FxPro review and ratings

FxPro review and ratings
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COMPANY INFORMATION

FxPro group includes 4 related companies.

FxPro UK – located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
FxPro CY – located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
FxPro UAE – located in the United Arab Emirates, regulated by the Dubai Financial Services Authority (DFSA).
FxPro BS – located in the Bahamas, regulated by the Securities Commission of the Bahamas (SCB).

Be aware, UK and CY companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.

AVAILABILITY

FxPro group accepts clients from all over the world, excluding USA, Canada and Iran.

DISTINCTIVE FEATURES

  • Authorised and regulated by a government agency in several counties.
  • Free technical financial analysis provided by Trading Central.
  • More than 10 years on the foreign exchange market.

TRADING INSTRUMENTS

Forex broker offers the following underlying assets for trading.

70+ Currency PairsBased on major and minor world currencies.
3 Crypto PairsBased on Bitcoin, Ethereum, Litecoin.
25 Indice Cash CFDsBased on baskets of different blue-chip stocks.
10 Indice FuturesBased on baskets of different blue-chip stocks and US Dollar Index.
6 Metal Spot CFDsBased on Gold and Silver.
3 Energy Spot CFDsBased on Crude Oil (WTI, Brent) and Natural Gas.
3 Energy FuturesBased on Crude Oil (WTI, Brent) and Natural Gas.
7 Soft FuturesBased on Cocoa, Coffe, Corn, Cotton, Soybean, Sugar and Wheat.
140+ Stock CFDsBased on shares of US, UK, German and French companies.

COMPREHENSIVE REVIEW

Perhaps best-known as the sponsor of Premier League football club Watford FC, FxPro is a retail forex and CFD brokerage that has been operating since 2006. The company is headquartered in London and claims to have more than 100,000 clients. The broker serves clients globally, except for residents of the USA, Canada, and Iran. As base currency of the trading account, the broker allows traders to choose from USD, EUR, GBP, CHF, JPY, AUD, ZAR, and PLN.

The FxPro brokerage operates across the world under the holding company FxPro Group Limited, which owns separate entities that are fully regulated in the UK, Cyprus, South Africa, Dubai, and The Bahamas.

Deposits and withdrawals are free for all funding methods except for PayPal, where the broker charges a 2.7% fee for deposits. The minimum initial deposit is USD 100 or the equivalent in another currency for most traders, while traders who fall under the broker’s Dubai-registered entity are required to deposit a minimum of USD 500.

As most other forex brokers, FxPro employs a straight-through processing (STP) and no-dealing desk (NDD) model for their order execution. Thanks to the company’s own in-house spot aggregator, it was awarded as the best global forex broker for FX execution by Capital Finance International.

FxPro offers its users the choice between 3 popular trading platforms, namely the MetaTrader 4 (MT 4), MetaTrader 5 (MT 5), and the relatively new cTrader platform, specifically designed for CFD trading. As most other brokers, FxPro also gives their clients the opportunity to access these trading platforms via mobile apps.

Although FxPro does not offer the “social trading” experience that some other brokers have introduced in recent years, “expert advisors” (EAs) and automated trading is still available through the MetaTrader platforms, which also includes back-testing of trading strategies for those who prefer to use systematic, programmable trading strategies.

In terms of leverage, FxPro goes up to 1:500 for international clients, while EU-based clients as usual is limited to a 1:30 leverage in order to stay compliant with the new ESMA regulations from 2018.

In terms of available trading instruments, FxPro offers its traders the usual selection of CFDs based on forex, commodity futures, equity indices, equities, precious metals, and energies such as oil and natural gas. What some traders may be missing, however, is the chance to trade CFDs on cryptocurrencies with this broker.

Customer service hours at FX Pro follows market hours, and is available via email, live chat, and designated phone numbers with local language support for 27 countries around the world. The quality of the customer service is generally quite good with no major complaints reported in online forums.

What stands out the most with FxPro is probably the large library of educational materials and free trading tools they have made available on their website. Spread comparison tables and economic calendars are among those things that always come in handy for traders. In addition, the broker offers a wide range of calculators that are free to use, including a pip calculator, stop-loss calculator, and a commission calculator for their cTrader platform. These are all unique features of this broker that we believe builds trust and transparency on the part of FxPro.

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