FxPro Review 2023 Update – Choose the right broker
| General Information |
|
|---|---|
| Broker Name: | FxPro |
| Broker Type: | Forex Broker |
| Country: | United Kingdom |
| Operating since Year: | 2006 |
| Regulation: | CySEC, 078/07, FCA, 45052 |
| Address: | 13-14 Basinghall str., City of London, EC2V 5BQ, UK |
| Broker Status: | Regulated |
| Customer Service | |
| Phone: | +44 (0) 203 151 5550 |
| Email: | [email protected] |
| Languages: | EN,ES,PT,IT,DE and others |
| Availability: | 24/5 |
| Trading | |
| Trading Platforms: | MT4, MT5, cTrader, Web Trader, Mobile Trader |
| Trading Platform(s) Timezone: | GMT +2 |
| Demo Account: | Yes |
| Mobile Trading: | Yes |
| Web-based Trading: | Yes |
| Bonuses: | N/A |
| Other Trading Instruments: | Currencies, Futures, Indices, Shares, Commodities, Cryptocurrencies |
| Account | |
| Minimum Deposit ($): | 500 USD |
| Maximum Leverage: (1:?) | 1:500 |
| Spread: | Fixed, Floating |
| Scalping Allowed: | Yes |
CONTENT
- Introduction to FxPro Broker Review
- Regulations and Safety at FxPro
- FxPro Trading Products
- FxPro Account Types and Platform
- No Dealing Desk Execution
- Education and Trading Tools
- Customer Service
- FxPro Broker Review Summary: Is it Good?
Introduction to FxPro Broker Review
It’s primarily a forex and CFDs broker with clients and offices in key cities around the world. So, if you are into trading cfds and technical analysis, along with currency trading, the FxPro broker might be the best choice for you!
It offers both true ECN/NDD (no dealing desk) and dealing desk to traders. Traders can use various trading tools and conduct research on the trading platforms. FxPro Financial Services Ltd is authorized and regulated by CySEC and FSCA.
There are many different things to be said about FxPro. Not only is it prevalent, but it is one of the most awarded brokers in the industry. That’s right, and we’re talking about an award-winning broker right now. Our FxPro broker review will help you determine if it’s the right broker for you.
Regulations and Safety at FxPro
The FxPro is a multi-branch broker, managed and operated by FxPro Group Ltd, which has different subsidiaries, all regulated.
- First FxPro UK Ltd – authorized and regulated by the UK’s Financial Conduct Authority (FCA)
- FxPro Financial Services Ltd – authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA)
- Also FxPro Global Markets MENA Ltd – authorized and regulated by the Dubai Financial Services Authority.
- FxPro Global Markets Ltd – authorized and regulated by the Securities Commission of the Bahamas.
The broker is very much regulated
In other words, FxPro is very much regulated. This status makes it one of the most trustworthy brokers in the industry. Being under CySEC regulation, FxPro is a member of the Investor Compensation Fund scheme. That means traders get protection for up to 20,000 euros should the company go insolvent.
In 2015, the brand also came under the regulatory oversight of the FSCA. Of course, regulatory oversight improved along with trust and safety levels.
In the UK, the FCA regulation also means that FxPro is under the Financial Services Compensation Scheme FSCS). It protects for up to 50,000 pounds should the company fail to meet its obligations.
And if that’s not enough, there are also other ways that FxPro protects your funds. There is segregation of funds., traders’ money won’t get mixed up with the company’s, and the negative balance protection.
Overall, FxPro proves itself to be a broker that is highly secure and low risk. Moreover, that’s almost an insurance that trading with this broker is going to be okay. But there are many other essential factors you should consider. We’ll present those factors in the rest of our FxPro review.
FxPro Trading Products
FxPro traders have access to a bunch of tradeable assets, including:
- CFDs for currency pairs
- Equities
- Futures
- Market indices
- Spot energies
- Spot metals.
FxPro boasts its ultra-fast execution time for forex, coming with an ultra-low latency data center.
For futures, it offers various assets such as cocoa, coffee, corn, EUR50, natural gas, and many more.
Although this broker primarily shines in the forex market. Moreover, it has a diverse set of offerings for future and spot index traders. Stock traders also get their share, although only with a selection of big-name stocks.
Overall, a trader could find lots of products to trade here. Of course, the more products available, the more opportunities you can spot. But that will depend mainly on how well you know the markets. The rest of our FxPro review will focus more on their trading-related conditions.
FxPro Review: Account Types and Platform
If you wish to open a trading account with FxPro broker and start trading, here is what you need to know: There are a lot to choose from in terms of account types and platforms. The choices include:
- MetaTrader4
- MetaTrader5
- cTrader
- FxPro Edge
FxPro: MetaTrader 4
The MetaTrader4 platform and account in perhaps the most popular choice for most traders. The MT4 is the market’s standard for trading terminals. At the same time, the platform is best suited for forex traders. And FxPro is primarily a forex broker.
The MT4 platform is useful for fast, efficient, and smooth trading experiences. You have access to different charts and timeframes, plus a plethora of technical indicators. You can customize the interface, so it becomes easier for you to use the platform to make trading miracles.
FXPrimus offers a range of MT4 account options, including fixed spreads with Instant Execution, floating spreads with Instant Execution, and floating spreads with Market Execution. There’s also an MT4 account with raw spreads (FX & Metals) and Market Execution.
For cTrader enthusiasts, a floating spreads account with Market Execution is available. Additionally, there’s an MT5 account with floating spreads and Market Execution. CFD traders can opt for the FxPro EDGE CFD account with floating spreads and Market Execution. FXPrimus provides diverse choices to accommodate different trading preferences.
Review of MetaTrader 5
As we said earlier in our FxPro review, it also houses MT5. If MT4 is primarily a tool for forex traders, the next-gen MT5 platform is for more diverse trader types. As a result, this appears to be an excellent platform for FxPro.
We mentioned that FxPro is an award-winning broker. The broker has received the “Best MT5 Broker” – two times (2015 and 2016) -in the UK Forex Awards.
Back to the platform, the MT5 is pretty powerful – more powerful than its predecessor. You can use more timeframes and more indicators. If you are feeling savvy, you can pull up as many as 100 charts at a time.
MT5 is the more superior version of the MT4. Admittedly, it had a slow time kicking off into more mainstream use to replace MT4 as the industry standard. Despite that, it’s already taken over a massive chunk of the trader populace.
Both MT4 and MT5 are mobile friendly
For those interested in trading apps that are available, both the MT4 and MT5 platforms are available on mobile. If you want to trade while moving, you can, as long as you have the app and internet connection. Notably, there is a mobile app for both to trade on the go via iOS or Android device.
This feature is excellent for investors who do not want to miss a beat. No movement goes unchecked. The platforms are also compatible with Android and iOS, Windows, and Mac operating systems.
cTrader
The cTrader trading platform is another platform that aims to serve traders in the best way possible. This platform is best for finding the best available bid and ask prices.
You will also see your orders get filled in a snap. There’s a full-market depth feature to top it all off. The cTrader platform is a powerful trading platform that offers the best bid and asks prices.
Just like the MT4 and MT5, the cTrader is available on mobile devices. You can take it anywhere with you and never worry about missing out on the markets’ best moves.
FxPro Edge
Now, it’s always a bonus when a broker offers its very own trading platform. It means that they want to provide something more unique, something that sets them apart from other brokers.
FxPro offers the FxPro Edge, its very own platform for traders.
The catch is that this platform appears to be best for spread betters. It is also good for traders who want to benefit from some of the tightest spreads across all assets.
FxPro is a web-based platform that traders can customize to fit their needs. Also, there is no additional cost for using this platform.
Demo account availability
Demo accounts are valuable tools for traders to learn and test strategies without risks. If you wish to open a demo account at FxPro, after reading the fxpro.com review, open demo accounts via FxPro Direct.
No Dealing Desk Execution
The broker has a wide roster of accounts and platforms, as we mentioned earlier in our FxPro review. Furthermore, FxPro also boasts about its award-winning NDD execution model. This setup is responsible for the ultra-fast order execution.
This model has also given the broker many awards that will surely impress onlookers. In 2016 and 2017, it won a back-to-back Best FX Execution Global award from CFI.Co Awards.
In 2017. It also snatched the title Best Execution Broker Global award from Global Brands Magazine. And in 2018. Lastly, Online Personal Wealth Awards named the Best FX Provider.
At the same time, FxPro advocates full transparency. Slippage also is not a problem. FxPro says that in 2018, stats showed that 74.65% of market orders were executed at the requested price. Nearly all of the instant orders received no requote.
FxPro Review of Education and Trading Tools
FxPro also lets novice traders learn from them through educational material and analysis. On their website, they offer free articles, blogs, and learning materials for traders.
These materials are categorized into different sessions, letting you learn at your own pace. News and analysis sections include an economic calendar, earnings calendar, and market holidays.
There are also trading calculators, tools, VPS, and many other tools. Another related thing we’d like to mention in our FxPro review is that it’s quite welcoming to beginners.
FxPro Review: Customer Service
Another thing we’d like to mention in our FxPro review is the broker’s excellent customer support. It has multiple different languages and works 24/5 for your convenience. You can use live chat, email, or one of the toll-free phone numbers to reach the team.
- Phone: +44 (0) 203 151 5550
- Email: [email protected]
Conclusion of FxPro Broker Review: Is it Good?
FxPro is among those brokers traders can easily trust. It is regulated and has a lot of reach around the world. Traders receive protection from top-tier regulators, so it is perfectly safe to trade with FxPro.
Furthermore, when it comes to specific offerings, FxPro knows that traders want a lot of features. To address that, they offer not one, not two, but four trading platforms and accounts. Each of these accounts serves traders in different ways, but all point towards letting you achieve your trading goals.
Perhaps the only downside to this broker is that their educational materials are limited in comparison to other offerings. At the same time, the fees are higher than others since the company generates its revenues from spreads and commissions.
But that is forgivable if the overall service is excellent, mainly if it is the award-winning kind.
To conclude our FxPro review, it lives up to the hype surrounding its name.
If you want a highly secure, trustworthy, and excellent trading experience and can handle the commissions, then consider FxPro. It is a trading central you should put on your list. For additional information about this broker you can find on the fxpro.com review official page and Fxpro youtube channel!
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Worst brokers
This is the worst broker I have tried. I never expect such failure from them. They have set high bars but unfortunately, their signals are poor and unprofitable.
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Scam
It is a scam, crystal clear. Do not deal with them.
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Not legit
Not a good idea to trade with them. They are not legit brokers.
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Not happy with the broker signals
Their customer service in all fainess is very friendly. I am not just happy with broker signals that is why I moved to other broker service.
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Poor services
Poor services and weak broker advice. I am not impressed with this broker’s services and I’ve got no reason in keeping them.
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Unresponsive
Unsupportive and unresponsive forex broker. I am not happy with their customer service.
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I felt cheated by this broker
I felt cheated by this broker. I traded and they mentioned all terms onset. However, when I started requesting for withdrawal, they start to give out some policies I never knew off. And with that my request to wothdraw is rejected.
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Poor services
Poor trading advice. I have lost so much money because of this.
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Extremely bad
Extremely bad forex broker. They have ran away with all my money.
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Bad broker company
Questionable company information. As if they do not exist really.
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Poor customer service
Poor customer service. They do not communicate well and they’ve got poor comprehension. I always have to repeat myself a few times and end up not being misunderstood.
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Rude customer service
Rude customer service. They are not professional enough to assist.
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Worst platform
The worst platform I have ever used. Has so many technical problems.
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