- Jump to:
- Regulations
- Trading Instruments
- Trading Platforms
- Payment Methods
- Account Types
- Support
- Conclusion
Offering CFDs on a wide range of trading instruments, FxPro is one of the most successful Forex brokers in the world. It was founded in 2006 and is currently available to retail traders and institutional clients in more than 170 countries. Its website can be accessed in multiple languages while the company is regulated in most major jurisdictions, including Europe and the UK, the Middle East, and North Africa.
FxPro has more than 1.3 million client accounts and over the years, it has received over 60 accolades and international awards, including for the Best FX Platform and Best FX Broker. The company offers CFDs on more than 250 instruments across six asset classes. Clients can trade on four different platforms, including the MetaTrader suit, cTrader, and Edge. Moreover, FxPro boasts impressive execution times and is among the best NDD (No Dealing Desk) brokers, executing orders anonymously and within 11.06 milliseconds.
General Information about FxPro | |
---|---|
Min. Deposit | $100 |
Supported Languages | Arabic, German, English, Spanish, French, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Vietnamese, Chinese (Mandarin) |
Supported Currencies | N/A |
Website | https://www.fxpro.com/ |
Phone Number | +1 242 603 2224 |
Support Email | musupport@fxpro.com |
Headquarters Address | Lyford Manor, Western Rd, Nassau, Bahamas |
Regulation
A trustworthy and reliable broker, FxPro is a multinational company that has its headquarters in London. It has licenses from several regulatory bodies and is legally authorized to offer CFDs and spread betting on Forex, commodities, shares, and more in 173 countries around the world. FxPro Group Limited is the holding company of FxPro Financial Services Ltd., FxPro UK Limited, FxPro Global Markets MENA Limited, and FxPro Global Markets Limited.
Each of its subsidiaries operates in a different part of the world and holds a license by the local financial regulator. Through them, FxPro is regulated by the UK’s Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority in South Africa, the Dubai Financial Services Authority, and the Securities Commission of the Bahamas. Still, the website and the trading platforms it offers do not provide CFDs to clients from certain jurisdictions, including the USA, Iran, and Canada.
Regulator | Licence |
---|---|
CySEC | 078/07 |
FCA | 45052 |
FSCA | 45052 |
SCB | SIA-F184 |
Trading Instruments
FxPro is specialized in offering contracts for difference (CFDs) and spread betting on Forex, stocks, cryptocurrencies, spot metals, spot indices, and spot energies. It also provides CFD trading on futures on selected energy products, indices, and agricultural commodities. In total, FxPro clients can trade in more than 250 instruments across 6 asset classes.Forex
With more than 70 currency pairs available for trade at FxPro, traders would not find many brokers with a better FX offering. Here, they can make a profit from the price movements of some of the most commonly traded pairs but also benefit from the tight spreads and lack of commissions. Of course, this is the largest and the most liquid market in the world, which is why it is so popular among individual traders.
At FxPro, traders can buy and sell the most popular pairs on the Forex market that have the highest trading volumes or try something new and different with various exotic pairs. Among the major currency pairs available to FxPro clients are EUR/USD, GBP/USD, USD/JPY, and USD/CAD. Other popular FX pairs that can be traded here are CAD/CHF, EUR/GBP, EUR/CAD, CAD/JPY, AUD/NZD, etc.
Futures
The foreign exchange market may be the most preferred way to trade but many traders and investors love to diversify their portfolio with contracts for difference on futures from all around the world. Futures are a wonderful investment method because, with them, traders can speculate on the value of different indices, commodities, and energies.
And they can profit from the price fluctuations without actually buying and owning the commodities and energy products themselves. FxPro offers around 20 different options to those who want to trade CFDs on futures. This includes cocoa, coffee, cotton, sugar, natural gas, corn, wheat, as well as contracts on the price of US oil, UK100, US$indx, S&P500, EUR50, DJ30, and many more.
Shares
Stock trading and CFDs on shares, in particular, are almost as popular among individual traders as Forex but it comes with its strengths and limitations. It was introduced in the 1990s and before that, it was impossible to trade shares of a company, for instance, if you do not own the stock. With contracts for difference, however, shares trading became more accessible and affordable – now, traders can invest in a company and receive dividends payments by simply speculating on the stock value.
FxPro gives its clients access to the shares of some of the largest and most successful companies in the United States, Europe, and the United Kingdom. Traders can trade CFDs on the following stock – Apple, JPMorgan, Volkswagen, L’Oreal, Alibaba, Amazon, Netflix, Disney, Costco, Facebook, TeslaMotor, HomeDepot, and many more. In total, the broker offers trade on around 150 CFDs on the shares of the world’s leading companies in all major industries and sectors of the economy.
Indices
Another huge market includes the indices as it allows traders to trade large bundles of company shares that represent an entire industry or country rather than tracking a particular company. To better understand each index, FxPro clients can use the comprehensive statistics and analysis available on the website and directly from the trading platforms it provides. To be successful, they need to pay attention to corporate news, political and economic events that affect the entire sector.
The selection of indices here is not the largest on the Internet but it does include the most traded indices and the most successful companies and industries in the world. Popular index CFDs on the FxPro platform are US30 or the Dow Jones index, USNDAQ100 (NASDAQ), USSPX500 (S&P500), UK100 (FTSE100), China A50, and the Germany30 (DAX) index.
CFDs on Spot Metals
Contracts for difference also allow trading precious metals such as gold and silver but just like CFDs on Forex pairs, this type of trading instrument is much more accessible and liquid than buying and selling actual, physical gold.
When traders opt for CFDs on spot metals, they can enjoy all the benefits of the physical gold for a fraction of the price – the high liquidity means that the spreads are tight and it is relatively easy to enter and exit positions, even when they are large. But along with spot gold, FxPro offers CFDs on other spot metals such as silver and platinum. In addition, traders can opt for CFDs on the Gold/EUR or Silver/EUR relationship.
Energies
Another alternative for investors is to trade CFDs on energies, especially for short-term trading. This is a good option for those who are able to spot market trends. Moreover, traders need to pay attention to the price fluctuations of oil and gas in different seasons and based on economic events and varied demand. FxPro does not provide a huge selection of these markets but it offers the most popular energy commodities, namely Brent oil, natural gas, and WTI crude oil.
Instrument | Spread |
---|---|
AUDUSD | AVG 0.58 pips |
AUDUSD | AVG 2.13 pips |
EURGBP | AVG 0.77 pips |
EURGBP | AVG 1.52 pips |
EURUSD | AVG 0.5 pips |
EURUSD | AVG 1.5 pips |
GBPUSD | AVG 0.68 pips |
GBPUSD | AVG 1.87 pips |
NZDUSD | AVG 1.18 pips |
NZDUSD | AVG 2.96 pips |
USDCAD | AVG 0.91 pips |
USDCAD | AVG 1.79 pips |
USDCHF | AVG 0.71 pips |
USDCHF | AVG 1.98 pips |
USDCNY | AVG 9.65 pips |
USDCNY | AVG 13.68 pips |
USDJPY | AVG 0.47 pips |
USDJPY | AVG 1.53 pips |
Trading Platforms
Platforms |
PC / MAC |
Smartphones |
Tablets |
---|---|---|---|
MetaTrader 4 | |||
MetaTrader 5 | |||
MetaTrader 4 Multi Terminal | |||
cTrader |
Trading Information | |
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Trading Platforms | cTrader, FxPro Edge, MetaTrader 4, MetaTrader 5 |
Demo Account | |
Hedging | |
Scalping | |
US Traders | |
Arabic Traders |
To give its clients a wider choice of trading options and tools to do that, FxPro uses several different platforms, including the latest products in the MetaTrader suit, namely MT4 and MT5. In addition, it also offers cTrader, while UK-based clients can also register at the FxPro Edge platform.
The majority of traders will find the MetaTrader 4 the most convenient and familiar option. It is also the only platform offered by FxPro, which has both Instant and Market Execution, as well as fixed and floating spreads. It comes with a full suite of automated trading solutions or expert advisorSome clients may prefer the updated version, MetaTrader 5, but they should know that it lacks certain tools and functionalities. For instance, hedging positions is not possible on MT5 and fixed spreads are not offered.
Clients can choose the downloadable version (MT4 and MT5), the web platform WebTrader 4, or the mobile platforms for Android and iOS (MT4 and MT5). Another option is the MT4-based XM Multiterminal, which allows the simultaneous management of over 100 trading accounts from a single platform for CFDs, Forex trade, and futures.
FxPro also offers its clients to trade using cTrader, which is also very popular among traders due to its relative user-friendliness, great functionality, and obviously improved visuals and interface over the MT4 platform, which is a decade old already. In fact, cTrader is widely considered to be the best trading platform right now, although that would be up to personal preference – cTrader provides extremely fast execution, as well as the Direct Market Access (DMA) functionality. The DMA allows traders to submit buy and sell orders to the exchange without having to go through an intermediary.
Edge is a new web trading platform introduced by FxPro and it providers clients of the broker with a new way to trade – spread betting. It is currently available only to UK-based traders, however. The web platform is customizable and allows trade on Forex, shares, spot indices, spot metals, and spot energies. It has tight spreads and no commissions, but more importantly, traders can open a Limited Risk Account and make sure they will never lose more than their initial deposit.
Payment Methods
FxPro supports a good range of payment methods, including popular credit/debit cards and e-wallets. To provide its clients with more convenience, it processes payments in multiple currencies – USD, EUR, GBP, CHF, PLN, JPY, and AUD. The recommended minimum deposit amount is US$500. The broker does not charge any fees on deposits or withdrawals, although a 2.6% fee would be incurred if traders request a withdrawal without having traded from their account.
The availability of the different banking methods varies, depending on the client’s country of residence. Traders based in the United Kingdom or the United Arab Emirates, for example, can deposit and withdraw funds from their FxPro trading account using only bank transfer and credit and debit cards by Visa, Mastercard, and Maestro.
Clients in Europe and other parts of the world have a few additional options to the standard bank transfers and credit/debit cards. They can also make a deposit and withdraw funds from their FxPro account using a digital wallet. Currently, there are several options available on the trading platform, including Skrill and Neteller. In addition, they can choose to pay or receive their funds using UnionPay, which from a locally available payment processor in China quickly became a globally recognized way to pay in a fast and secure way.
Another convenient tool is FxPro Wallet, which allows clients to instantly transfer funds between their MT and cTrader trading accounts. It works like a standard Cashier but it helps traders limit their risk by storing a portion of their funds. Rather than spending their entire deposit clients can simply store some of the money into the wallet.
Brand | Minimum | Fees | Processing Time |
$500 | No Fees | 1-5 business days | |
$500 | No Fees | 1-5 business days | |
$500 | No Fees | 1-5 business days | |
$500 | No Fees | 1-5 business days | |
$500 | No Fees | 1-5 business days | |
$500 | No Fees | 1-5 business days | |
$500 | No Fees | 1-5 business days |
Brand | Minimum | Fees | Processing Time |
- | No Fees | Over 3 days | |
- | No Fees | Over 3 days | |
- | No Fees | Over 3 days | |
- | No Fees | Over 3 days | |
- | No Fees | Over 3 days | |
- | No Fees | Over 3 days | |
- | No Fees | Over 3 days |
Account Types
FxPro does not offer a wide variety of trading accounts besides the accounts required to use the different platforms. Therefore, clients can open an MT4, MT5, a cTrader or an FxPro Edge account. Those who choose to use the MT4 platform can opt for Instant Execution or Market Execution, which is rarely offered by the vast majority of brokers. The other platforms feature Market Execution.
Fixed Spread is not available to MT5 users but only floating spreads. Another difference that should be taken into account is the trading cost – those who open a FxPro cTrader Account will need to pay $45 per $1 million traded (upon opening and closing a position) on Forex and metals. There are no commissions on futures and indices. Spread Betting Accounts are also available to UK-based traders who decide to register on the FxPro Edge trading platform.
The leverage for retail clients is 1:30, while for professional clients, it can reach 1:500. Corporate, joint, and swap-free (Islamic) accounts are also available. However, most of these options are only offered after contacting customer support.
Along with these Live Accounts, traders have to opportunity to test the FxPro and its platforms by opening a free Demo Account. The Demo Account is available to everyone and it resembles the actual, real-money accounts – clients receive a balance between $500 and $500,000. The maximum leverage for a Demo Account is 1:30, the same as in regular live trading accounts.
Market | Leverage |
---|---|
Crypto CFDs | 1:500 (SCB | Retail Account) |
Crypto CFDs | 1:500 (SCB | Retail Account) |
Metal Futures | 1:200 (SCB | Retail Account) |
Metals CFDs | 1:20 (CySEC | Retail Account) |
Spot Metals | 1:10000 (SCB | Retail Account) |
Stock CFDs | 1:25 (SCB | Retail Account) |
Index Futures | 1:50 (SCB | Retail Account) |
Spot Indices | 1:500 (SCB | Retail Account) |
Commodities CFDs | 1:10 (CySEC | Retail Account) |
Commodity Futures | 1:50 (SCB | Retail Account) |
Crypto CFDs | 1:2 (CySEC | Retail Account) |
Energy Futures | 1:200 (SCB | Retail Account) |
ETF CFDs | 1:5 (CySEC | Retail Account) |
ETF CFDs | 1:25 (SCB | Retail Account) |
Forex CFDs | 1:30 (CySEC | Retail Account) |
Forex CFDs | 1:30 (FCA | Retail Account) |
Forex CFDs | 1:10000 (SCB | Retail Account) |
Indices CFDs | 1:20 (CySEC | Retail Account) |
Spot Energy | 1:200 (SCB | Retail Account) |
Stock CFDs | 1:5 (CySEC | Retail Account) |
Support
The multi-lingual support and interface of FxPro is a good indication for a top-quality broker with a truly global presence. The site itself is available in English, French, German, Arabic, Chinese, Czech, Greek, Hungarian, Italian, Japanese, Korean, Malaysian, Polish, Portuguese, Romanian, Russian, Slovak, Spanish, Thai, Turkish, and Vietnamese.
The Customer Support Department can be contacted at any time of the day or night during weekdays. Clients can request a callback or call the support at 08000 463 050 (toll-free for UK-based traders). The broker also has a Global Support-dedicated phone line in English and it is +44 (0) 203 151 5550. Local support phone numbers are also available. Of course, clients can send emails at support@fxpro.com or contact the support agents directly via the Live Chat.
Conclusion
Since it was founded more than a decade ago, FxPro has grown into one of the world’s largest and most respected Forex and CFD brokers. It is licensed and regulated by not one but several major regulators and has an impeccable reputation for providing safe and reliable trading on a wide variety of instruments. The multiple platforms, tight spreads, and overall good pricing makes it a preferred FX and spread betting broker for millions of traders.