Introduction to FxPro
FxPro is a globally recognized broker that has been operating since 2006. With a presence in over 170 countries and serving both retail and institutional clients, FxPro has earned a solid reputation for providing a wide array of trading services, including forex, CFDs on commodities, shares, indices, futures, and cryptocurrencies. The broker emphasizes transparency, fast execution, and comprehensive client support, making it popular among traders of all levels.
Regulation and security
FxPro is regulated by some of the world’s most respected regulatory authorities, ensuring a high level of trust and protection for its clients:
- UK Financial Conduct Authority (FCA): This regulation requires FxPro to comply with strict financial standards, including segregating client funds and providing compensation protection up to £85,000 via the Financial Services Compensation Scheme (FSCS).
- Cyprus Securities and Exchange Commission (CySEC): Operating under MiFID II regulations, CySEC provides additional oversight within the European Union.
- Financial Sector Conduct Authority (FSCA) in South Africa and the Securities Commission of The Bahamas also regulate FxPro, allowing it to offer services to clients outside Europe.
This multi-jurisdictional regulation ensures that FxPro adheres to high standards of transparency, fund security, and ethical business practices.
Account types
FxPro offers various account types to meet the needs of both beginner and experienced traders. The main account types include:
- MT4/MT5 Accounts: Standard trading accounts for those using the MetaTrader platforms, offering competitive spreads, no commission (on most accounts), and leverage up to 1:500.
- cTrader Account: Provides a commission-based structure with tighter spreads, ideal for traders who prefer a market execution model.
- FxPro Edge Account: This account type allows spread betting for UK clients, offering tax-free trading on thousands of instruments.
There is also a Demo Account, available for traders to practice strategies in a risk-free environment.
Trading instruments
FxPro offers an extensive range of trading instruments, making it possible for clients to diversify their portfolios. The available instruments include:
- Forex: More than 70 currency pairs are available, with competitive spreads and leverage up to 1:500.
- Commodities: Includes precious metals like gold and silver, as well as energies such as oil and natural gas.
- Indices: Major global indices like the S&P 500, FTSE 100, and DAX 30 are available for trading.
- Shares: Over 2,000 global shares, including tech giants like Apple and Google.
- Cryptocurrencies: FxPro offers popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.
Fees and commissions
FxPro operates with both commission-based and non-commission-based pricing models, depending on the account type and platform. For instance, the cTrader account is commission-based but offers lower spreads starting from 0.0 pips. On other platforms, FxPro uses a spread-only model where commissions are included within the spread.
Additionally, FxPro does not charge fees on deposits or withdrawals, though there may be fees imposed by payment providers. The broker also does not charge for account inactivity.
Trading platforms
FxPro offers a range of trading platforms to accommodate various trading preferences:
- MetaTrader 4 (MT4): One of the world’s most popular trading platforms, MT4 provides a robust suite of tools, including automated trading (via Expert Advisors), advanced charting, and technical analysis indicators.
- MetaTrader 5 (MT5): The successor to MT4, MT5 offers additional features like more order types, an economic calendar, and extended charting tools. It’s ideal for traders who need more advanced capabilities.
- cTrader: This platform offers market execution, advanced trading features, and lower spreads for commission-based accounts. cTrader is well-suited for traders who prefer ECN-style trading.
- FxPro Edge: Available for UK clients, FxPro Edge is a web-based platform that allows for spread betting, offering tax-free trading opportunities.
Each platform is available across desktop, web, and mobile versions, allowing traders flexibility in how and where they trade.
Leverage and risk management
FxPro offers leverage up to 1:500 on forex and other assets. However, this leverage is subject to local regulations and may be lower for clients in the European Economic Area (EEA) due to ESMA restrictions. The broker also provides risk management tools, such as negative balance protection and a margin call system, helping traders manage risk effectively.
Educational resources
FxPro provides a wealth of educational resources to help traders improve their skills, including:
- Webinars: Regular sessions on market trends, trading strategies, and platform tutorials.
- Trading Academy: An in-depth educational section with articles and videos covering everything from trading basics to advanced techniques.
- Market News and Analysis: FxPro offers daily updates, technical analysis, and expert insights on the global markets.
Customer support
FxPro is known for its high level of customer service, offering 24/5 support via live chat, email, and phone. The broker’s website is available in multiple languages, and support is offered in more than 10 languages. Client queries are typically answered quickly, contributing to FxPro’s reputation for excellent customer care.
Final thoughts
FxPro stands out as a reputable, well-regulated broker with a broad offering of trading instruments, platforms, and account types. It is a solid choice for traders looking for flexibility, competitive pricing, and a high level of security. Its wide range of platforms, including MT4, MT5, and cTrader, as well as its transparent fee structure, makes it a suitable option for both beginner and experienced traders.