FxPro Review

Author By Jeffrey Cammack
Updated: March 1, 2021
Overall Rating
4.21 4.21 / 5
Rated #16 of 59 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 15
Website Language
English, Polish, Arabic, Chinese, Portuguese, Japanese, Hungarian
Support Language
English, Polish, Arabic, Chinese, Portuguese, Japanese
AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

Summary

FxPro, one of the biggest names in the industry, is regulated by the FCA, CySEC, DFSA and the FSCA in South Africa, offering clients trading on Forex, indices, futures, metals, shares and energies. While FxPro excels with a wide platform offering and a structured course for beginners, FxPro fails to deliver on market research and charges clients above-average trading costs with limited benefits additional in return.

Very few brokers have the breadth of platform choice as FxPro. With support for MT4, MT5, cTrader and their in-house FxPro Edge platform for web and mobile, clients should be able to find a platform that suits their needs. Although the cTrader platform does not offer all asset classes, and FxPro Edge still lacks some advanced trading features, we still recommend FxPro for this wide choice of platforms, reasonable 100 USD minimum deposit, and the fastest withdrawal service in the industry.

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
111115/ 5
Deposit & Withdrawal
111115/ 5
Education & Research
110002/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Bonuses

Account Information

Base Currencies
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
Number of FX Pairs
70+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.60 pips
Commission
9 USD / lot - cTrader Account
EUR/USD
1.9 pips
GBP/USD
2.4 pips
USD/JPY
1.6 pips
Max. Leverage
30:1

Company Details

Company Name
FxPro UK Limited
Founded
2006
Office Locations
United Kingdom, Cyprus, Bahamas

Is FxPro Safe?

Founded in 2006, FxPro has collected over 60 awards from their industry peers. Recent awards include Best Broker 2018 (Financial Times and Investors Chronicles Awards 2018), Best Forex Trading Experience 2018 (UK Forex Awards), Best Forex Provider 2014-2018 (Investors Chronicle & Financial Times Investment and Wealth Management Awards) and Most Reliable Broker of the Year (Global Markets) 2018 (International Investor).

FxPro are have been regulated the FCA (license 509956) since 2010, CySEC (license 078/07) since 2007, licensed by the FSCA (FSP 45052) since 2015 and the DFSA (reference F003333) since 2017.

Client funds, as required by regulation, are deposited in accounts at top tier banks in the region of their account regulation.

Together the strict banking standards, the first-class international regulation, and the industry praise show that FxPro is a very safe broker to trade with.

Trading Conditions

FxPro has a single account type, where trading conditions vary depending on the platform used. Trading with FxPro is NDD Intervention broker and 70+ currency pairs are available to traders. All trading platforms at FxPro offer Forex, Spot Indices, Spot Energies and Spot Metals to traders.

FxPro Execution

Account Types

FxPro has three main platforms available – MT4, MT5, and cTrader – and there is one account type associated with each platform. All FxPro accounts have both demo and mobile options, regardless of the platform. VIP services are available on all platforms and are triggered by larger trading volumes and deposit amounts. All accounts have a minimum deposit of 100 USD with a recommended starting balance of 500 USD.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
FxPro cTrader
USD 100
500:1
0.45
$4.50
Account Details
FxPro MT4
USD 100
500:1
1.20
None
Account Details
FxPro MT5
USD 100
500:1
1.52
None
Account Details
Islamic
USD 100
500:1
1.20
Variable
Account Details

MT4 Account – The MT4 account gives traders a choice between instant and market execution but choosing instant execution may lead to requotes at times of high volatility. Fixed spreads are available on this account making it easier for beginners to calculate profit/loss of a trade and establish better risk management.

MT5 Account – The MetaTrader 5 account is for those who want to use the latest generation of the popular trading platform. This account offers market execution, variable spreads, no requotes and will allow for partial fills for orders that lack liquidity. The spreads on this account are in line with the MT4 account.

cTrader Account – The cTrader account charges commission on trades and has significantly tighter variable spreads than the MT4 and MT5 accounts. This combination of tighter spreads and commission fees is common for professional accounts, as it makes calculating profit and loss easier.

As with the MT5 account, the cTrader account includes market execution of trades; no requotes, variable spreads and partial fills of orders in times of limited liquidity. This account does not limit the stop/limit levels.

Spreads and Commissions

The MT4 and MT5 accounts charge for their services in the spreads that can get as low as 0.6 pips, but average EURUSD spreads are around 1.2 pips. Spreads on the cTrader account are much lower with EURUSD averaging about 0.3 pips, but an additional commission of 45 USD per 1 million USD traded (single side).

Deposit & Withdrawal Fees

There are no deposit or withdrawal fees for Bank transfers, Credit cards, and Union Pay. Ewallets such as Paypal, Skrill, and Neteller generally do not charge a fee with withdrawals, but there are conditions:

  • For Paypal, refunds will not incur a fee, provided the refund is made within six months of the funding.
  • For Skrill, a fee up to 2.6% will be charged if withdrawal is requested without having traded.
  • For Neteller, a fee up to 2% will be charged if withdrawal is requested without having traded.

FxPro for Beginners

FXPro is one of the largest and most respected brokers in the industry and, as such, are an excellent choice for new traders.

FxPro’s platform offering also includes cTrader which is more beginner-friendly than MT4 and MT5. The setup is minimal by comparison, and the user interface is newer and easier to navigate. cTrader will give beginners at FxPro a head start over others using the Metatrader suite.

Educational Material

FxPro offers a publicly available education library – topics covered include Forex education, technical analysis, fundamental analysis, and trading psychology. While there is little structure to the material, the information is accurate.

Analysis Material

The FxPro news blog supports readers with commentary, analysis and daily stories related to future market movements and trading opportunities. Live webinars are broadcast frequently on a variety of subjects in multiple languages and video is then uploaded to YouTube for later viewing. FXPro also offers a standard economic calendar for planning.

Customer Support

Global support is available 24 hours a day, five days a week from a multilingual team at FxPro offices around the world. Should you wish to visit a local office, this can be arranged in advance.

Support teams at FxPro are available to help with technical and account-related questions but, as with all regulated brokers, cannot offer investment advice.

FxPro Trading Platforms

FxPro has a single Forex trading account offering on three different platforms – MT4, MT5, and cTrader. While MT5 is a newer and upgraded version of the MT4 platform, the MT4 platform remains the industry standard.

For beginners, MT4 and MT5 can be tricky to set up, but there are numerous guides in both text and video format to guide you through this process. cTrader is more beginner-friendly and needs fewer tweaks to optimise it for Forex trading, but there is less guidance freely available on the internet.

All versions of these applications have downloadable versions for PC and macOS as well as web and mobile interfaces.

FxPro Mobile Trading Apps

FxPro supports mobile versions of all MT4, MT5 and cTrader, and customer service is available 24/5 to answer questions about the software and help with setting it up.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FxPro offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Disclosure

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FxPro would like you to know that: Trading CFDs carries a high level of risk and may not be suitable for all investors. Please ensure that you understand the risks involved as you may lose all your invested capital. 77% of retail investor accounts lose money when trading CFDs with this provider. Past performance of CFDs is not a reliable indicator of future performance. Most CFDs have no set maturity date, and a CFD position matures on the date an open position is closed.

Overview

FxPro is at the forefront of leading traditional Forex brokers, and heavily promotes the accolades they have received over the years. Strong international regulation and a small selection of common trading platforms show that with simplicity, greatness can be achieved.

Trading conditions across the accounts are reasonable, and as an NDD Intervention broker, there is no potential for conflict of interest.

An open approach to education is a part of FXPro’s marketing strategy and account holders should not expect additional material from what is available before opening an account. That said, customer support is accessible and award-winning, a real benefit for beginners with many questions.

Overall, FxPro is a dependable choice for beginners looking for a strong, traditional broker. Expect consistent trading conditions and excellent support from FxPro, but they leave the extra frills and innovation to other industry players.

AlertAccepts South African Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.21/ 5
USD 100
Market Maker NDD
Forex
Indicies
Metals
Equities
Energies
Futures
70+
5
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
111104/ 5
11110.54.5/ 5
111115/ 5
111115/ 5
110002/ 5
11110.54.5/ 5
111104/ 5
77% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.60 pips
FxPro cTrader
FxPro MT4
FxPro MT5
Islamic
FxProEdge
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Unionpay
9 USD / lot - cTrader Account
11110.54.00/ 5
USD 5
Market Maker NDD
ECN/DMA
60+
9
  • Great platform choice
  • Low minimum deposit
  • Limited education
111104/ 5
111115/ 5
111115/ 5
100001/ 5
1110.503.5/ 5
111104/ 5
111104/ 5
58% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0.20 pips
cTrader NDD
MT4 Cent
MT4 Fixed
MT4 NDD
MT4 NDD No Commission
MT5 NDD
Bank Transfer
Visa
Mastercard
Skrill
Neteller
WebMoney
Fasapay
PerfectMoney
6 USD / lot - ECN Accounts
11110.54.07/ 5
USD 100
Market Maker NDD
Forex
Equities
Cryptocurrencies
Commodities
40
4
  • Great platform choice
  • Excellent education
  • Limited demo account
  • No swap-free account option
  • Extreme leverage
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
111104/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
Raw
Standard
Visa
POLi
Bank Transfer
BPay
Skrill
Neteller
Unionpay
3.50 USD per lot

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AlertMost retail CFD accounts lose money. Your capital is at risk.

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