FxPro Review 2018
FxPro does not accept new customers from US.
We recommend you check out our top rated list and sign up at another provider instead.
- US Traders
- 68+ Pairs
- 1 Day Payouts
- Mobile Friendly
- Low Deposit
Founded in 2006 and based in the UK and Cyprus, FxPro has continued to grow and evolve, now offering their services in 150 countries. Their commitment is to their clients and the service that they provide and they continually strive to refine the Forex trading service that they offer. Their website echoes their mission to be transparent and innovation.
With multiple accounts, based around the trading platforms that they offer, their service to both new customers and high net worth individuals is technically advanced. The mobile trading experience is perfect for those who like to trade on the move and there are a number of trading features available.
While FxPro seem to tick all of the boxes on the surface, how can you be sure that this is the right broker for you? Our team will provide you with everything you need to know about this particular broker. From the trading experience to the incentives and bonuses offered, we research every aspect of trading with FxPro so that we can provide you with a detailed overview.
What is it that makes FxPro a great choice for you? In this review, you will discover:
- Why FxPro continues to be popular globally with many online traders
- The special trading features that you can expect from the broker
- How you can be sure that your money is invested safely and protected
When you arrive at the website and look at the range of trading accounts you will discover that they offer three different formats; trading accounts, a demo account and a Premium Account. The trading accounts are based on the trading platforms so are named as per the platform that you will trade on:
The MT4 Account, as the name suggests, operates on the MT4 platform. Each of the FxPro trading accounts with the exception of the VIP account require a recommended deposit of $500. For this you get spreads of 1.4 pips and up to 1:500 leverage.
The MT5 Account is for those trading on the MT5 platform. Again, a deposit of $500 is recommended with spreads of 1.4 pips and up to 1:500 leverage.
The cTrader Account operates on the cTrader platform. As with the MT4 and MT5 versions a deposit of $500 is recommended with average spreads of 0.3 pips and up to 1:500 leverage.
There are some differences with the Market Account to the other accounts but again you can enjoy up to 1:500 leverage with a recommended deposit of $500 and attractive spreads.
There are significant benefits to opening an VIP Account. They are designed for high net worth individuals and require a $50,000 deposit. For this you will receive very competitive spreads and leverage, a dedicated account manager, no deposit or withdrawal fees, daily market analysis and invitations to exclusive events.
Like most brokers who want to offer the best possible service to their clients, FxPro offer a free demo account to try before you risk your own capital. Based on a simulated version of the live platform it will allow you to get to grips with trading before you start live trading.
Trade Features And Payouts
The main features that most traders look for, aside from the ease of use and overall trading experience, is what money they will make on their trades and if the broker is competitive with other brokers.
Leverage can vary dramatically between brokers. While some offer 1:50 with some as low as 1:25 others, like FxPro, offer leverage of up to 1:500. This should be observed as the maximum you can achieve and be careful when risking your investment. FxPro do offer a negative balance protection though.
The spreads really depend on the currency pairs you are trading in and the amount of money you are trading with. If you have a VIP Premium Account you will achieve much better spreads than those with a Standard Account. Pips range from 0.3 pips to 1.4 as an average across the trading accounts.
Stop Loss is a useful feature that allows you to exit the trade when the position has been reached. Most brokers offer it as a useful feature which means that you don't have to be online to close your trades. If you click the SL option it will close for you and if a TP (Take Profit) is an option you can select this as well.
As described in Account Types, there are various types of trading platform available. They include:
Simply choose the one that best suits your trading requirements and download the version you want. Whether you want to use the MT4, MT5, cTrader or Edge, there is plenty to choose from.
Bonuses And Promotions
We could find no evidence of bonuses and promotions offered by FxPro, that's not to say that they don't offer them from time to time. Ordinarily Forex brokers at least offer some sort of promotion whether it be a no deposit welcome bonus, a deposit bonus or a loyalty reward scheme.
This is an important factor for many of you. With so much activity now taking place on a mobile device, it is critical for you to be able to carry out their business on the go. If you are looking for a good mobile experience then FxPro offer what you need. Whether you choose to use the app or the mobile version of the website, you can choose between MT4 and MT5.
The account that you choose will determine which trading platform you have access to. We recommend checking out the various options before you decide on the best choice for you.
Deposits And Withdrawals
As you would expect, FxPro accept major credit and debit cards as well as alternative forms of electronic payment. These include Neteller, Paypal, Skrill, UnionPay and Wire Transfer. In most cases you can make your deposit and start trading immediately. Some forms of payment, such as wire transfer, will take longer to clear.
In the case of withdrawals, the funds are sent back to the original source of deposit. Usually it takes one working day. There are no fees for processing withdrawals however there are fees for deposits for non-UK issued credit cards.
When it comes to special features there are a few to mention. Not forgetting the multiple accounts and trading platforms you can also enjoy:
Forex Site Reviews
FxPro's expert customer support team is available 24 hours a day, 5 days a week. In addition to their well staffed London and Cyprus offices there are also offices in Dubai, Monaco and The Bahamas. You can contact the customer support team via email, local telephone or by clicking a live chat button at the side of the website. You can also request a call-back to save time waiting in a queue.
If you do find yourself needing the customer support services rest assured it is available in many languages and FxPro advise that providing you with a support agent who fully understands your request and needs in your native tongue isn’t a problem.
FxPro have a very competitive offering when it comes to the Forex trading market. With over ten years' experience in the industry and FCA (UK) and CySEC (Cyprus) licensing, they are also licensed to trade by the Dubai Financial Services Authority and the SCB. Their trade platforms are technically advanced with a commitment to continually improving. You have plenty of choice of trading accounts and can choose the mobile experience you want as well.
While there are no bonuses or promotions to speak of, you can enjoy competitive spreads and good leverage. There is also a free demo account allowing you to get to grips with the platform before you invest. If you have any questions or queries, there are plenty of options to get in touch with someone from their customer support team. Whether you are new to trading or have the benefit of more experience, FxPro offer everything a trader would expect.
Reviewed by: ForexTradingExpert.net
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Frequently Asked Questions
Is FxPro legit, will they scam me?
FxPro have been trading for a number of years now and offer their services in many countries around the world. In this time, they have built up a good name and reputation. To back this up they also have licensing from well recognised regulatory bodies like the FCA and CySEC. In addition to this their client funds are segregated with an insurance to protect them.
Do they have a decent mobile or tablet app?
There are a number of options when it comes to mobile trading. With apps in both MT4 and MT5, the user can choose their account and the trading platform they wish to use. Once you have decided which you wish to use, you just download the relevant app and you are good to go. For those who like to trade on the go, you will find a relevant app for iOS or Android for a variety of devices.
What bonus do they offer for new traders?
After some thorough research, there is no evidence to suggest that there are any current bonuses offered by the broker. That's not to say that there aren't welcome bonuses or deposit bonuses from time to time. While some Forex brokers will offer a fixed bonus for an indefinite period, others will only offer them at specific times. It is definitely worth checking back to see if the position changes.
Can I start trading on a free demo account?
All traders have access to a demo account. What this means is that you can practise trading on your desired platform, without having to deposit any funds. Simply click on the link to open a demo account and you can start trading immediately with virtual funds. While trading does not take place on the live platform, it does give you a good indication of what trading is like.
What's the min. deposit and ideal trade amount?
The minimum recommended deposit is $500. If you are a VIP with a high net worth then you can expect to deposit $50,000 for all the benefits of a Premium Account. Once you have made your deposit you may be wondering what amount you should start trading with. While the ideal recommendation is 1% of your balance, you may want to start low and grow as you get more confident.
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