FxPro Review 2024
Highlights of FxPro
FxPro is an international broker regulated by the FCA (UK), CySEC (Cyprus), FSCA (South Africa), and SCB (Bahamas). It focuses on providing quality services for traders of all levels.
Among the key features of FxPro is a wide range of trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge, as well as a variety of available markets and products, including currency pairs, CFDs on indices, stocks, commodities, futures, and cryptocurrencies. The broker also offers extensive educational materials to support trader development.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
FxPro reviews
4.6 out of 5
4.6 из 5
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FxPro Broker Overview
| Foundation Year | 2006 |
|---|---|
| Official Website | https://www.fxpro.com |
| Regulated in Countries | United Kingdom, Cyprus, BahamasMore Details |
| Minimum Deposit |
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| Spread | from 0 points |
| Max Leverage | 1:10000 |
| Trading Assets |
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| Trading Platforms |
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| Email Support |
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| Hotline Phones | |
| Social Media |
Facebook
LinkedIn
Twitter
YouTube
Telegram
InstagramFxPro was founded in 2006. It provides Contract for Difference (CFD) trading services and caters to retail and institutional clients in over 170 countries worldwide.
FxPro's service portfolio features CFDs across six asset classes: Forex, stocks, indices, futures, metals, and energy resources. The company ensures high liquidity and advanced execution of trades without dealer intervention.
FxPro is distinguished by high operational transparency and strict security standards. Client deposits are insured and held in central international banks, wholly segregated from the company’s funds. This establishes FxPro as a reliable broker in the financial market.
FxPro is in the top 10 of the following ratings:
FxPro Review Summary
It's important to note that in compiling the broker review, we have used our evaluation methodology, which you can review at the link: broker evaluation methodology. We adhere to strict criteria and analyze various aspects to give you an objective opinion about the broker.
If you want more detailed information about FxPro and to learn about other important aspects, we invite you to continue reading the review on our website.
Read the review further and make informed decisions when choosing a broker for your trading.
Reliability and Regulation
| Legal Entity | Regulator | Review |
|---|---|---|
 FXPRO UK Limited FXPRO UK Limited | FCA FCA | FxPro UK review |
 FXPRO Financial Services Ltd FXPRO Financial Services Ltd | CySEC CySEC | FxPro EU review |
FXPRO Financial Services Ltd FXPRO Financial Services Ltd | FSCA FSCA | FxPro SA review |
 FxPro Global Markets Ltd FxPro Global Markets Ltd | SCB SCB | Current review |
FxPro exhibits high reliability and strict adherence to regulatory standards in the financial industry. The company is overseen by several leading regulatory bodies worldwide, which provides clients with even greater confidence in the security and reliability of working with the broker.
Account Opening
Opening an account with broker FxPro is relatively straightforward and structured. Registration occurs in several steps and includes filling out a form with personal data, employment type information, financial information, trading experience, and an assessment of knowledge in margin trading.
It is also optimistic that the company offers a wide selection of base currencies for account opening and flexible conditions for the minimum deposit. It is important to note that the company requires user verification to confirm identity, which is standard practice and enhances the security level of operations.
Registration
To open a personal account at FxPro, use the "Register" button:
Then fill out the first page of the registration form, specifying your country of residence, email address, and password (note that the system requires the use of the Latin alphabet only), and proceed to the next:
Here, you will be asked to provide your first and last name, contact phone number, and date of birth:
The initial stage of opening an account with FxPro can be considered complete. But for full access to all the broker's features, you must confirm your email and pass verification.
Verification
By confirming your identity, you will complete the registration at FxPro. For identity verification, a screenshot or photograph of your passport's spread with your surname, first name, and photo, as well as the page with the address where you are registered, will suffice:
That's it; the registration is complete. Now, you can log into your account to open and fund your account, choose a trading platform, download the necessary software, etc. The setting of the personal account looks like this:
Overall, registration does not cause any difficulties and will require a minimum of time.
Base Currency of the Account
An account can be opened in any of the listed currencies:
- United States Dollar (USD);
- Euro (EUR);
- British Pound Sterling (GBP);
- Swiss Franc (CHF);
- Japanese Yen (JPY);
- Australian Dollar (AUD);
- South African Rand (ZAR);
- Polish Zloty (PLN).
Minimum Deposit
The minimum recommended deposit is 1000 USD or equivalent in another currency. There is a technical possibility to start with a smaller amount – the minimum top-up is 100 USD.
Account Types
FxPro offers a wide range of trading accounts suitable for different types of traders. These accounts vary in terms of minimum deposits, spreads, commissions, and available trading platforms. Special Islamic accounts are available for clients adhering to Sharia principles.
However, it is worth noting that there are no cent accounts, which could be helpful for beginner traders wishing to trade in actual markets with minimal risks. Also, services for copy trading are not provided, which could benefit less experienced traders who want to replicate the strategies of more successful peers.
Trading Accounts
FxPro provides 5 types of accounts for Forex trading.
| Standard | Pro Account | Raw+ | Elite | cTrader | |
|---|---|---|---|---|---|
| Account Currency | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR | ||||
| Minimum Deposit | 100 $100 €show all | 500 $500 €show all | 30 000 $30 000 €show all | 100 $100 €show all | |
| Trading Platforms | MetaTrader 4FxPro EdgeMetaTrader 5 | MetaTrader 4FxPro Edge | MetaTrader 4FxPro EdgeMetaTrader 5 | cTrader | |
| Spread | floatingfrom 1.2 pips~ 1.5 pips | floatingfrom 0.6 pipsfor EURUSD~ 1 pips | floatingfrom 0 pipsfor EURUSD~ 0.2 pips | floatingfrom 0 pipsfor EURUSD~ 0.37 pips | |
| Commission per Trade | per 1 lot3.5 $ | per $1M turnover35 $ | |||
| Trading Assets | ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy CarriersSoft Commodities | ForexIndicesPrecious MetalsEnergy CarriersSoft Commodities | |||
| Opened Positions | — | ||||
| Leverage | 1:1-1:10000 | ||||
| Margin Call / Stop Out | 25% / 20% | ||||
| Order Execution | STP | ||||
| Demo Account | |||||
| Islamic Account | |||||
| Open AccountRegister | Open AccountRegister | Open AccountRegister | Open AccountRegister | Open AccountRegister | |
The broker offers its clients trading accounts with instant (Instant Execution) and market (Market Execution) order execution.
The minimum position size for Forex trading is 0.01 of a standard lot (or 1000 of the base currency), with the minimum step also being 0.01 of a standard lot.
FxPro supports automated and high-frequency short-term trading, imposing no restrictions on scalpers.
Demo Accounts
FxPro offers the opportunity to open demo accounts on MetaTrader 4, MetaTrader 5, and cTrader platforms. The maximum leverage for such accounts is 1:10000, and the deposit size is limited from 500 to 100000 units in any of the currencies available for opening a trading account.
The broker does not limit the number of demo accounts opened by a single client or the duration of their use. The process of opening such an account takes just a couple of minutes:
Premium Accounts
For clients with large trading volumes, FxPro has a special offer: Premium accounts. Owners of such accounts are provided with:
- Personal service;
- Up to 30% discount on market spreads;
- Up to 30% discount on cTrader commissions;
- Special news summaries;
- Exclusive events and seminars.
VIP clients can access an accessible, dedicated virtual server (VPS).
To become a VIP client, fund your FxPro account with $50,000+ (or the equivalent in another currency), after which an FxPro manager will contact you and explain all the details.
Islamic Account
FxPro offers its clients the opportunity to use swap-free or Islamic accounts, as they are also called. These accounts are specifically designed for traders who follow the principles of Islamic banking and financial law - Sharia. The main feature of these accounts is the absence of swaps or rollovers to the next day, making trading compatible with the religious doctrines of Muslims.
It is important to note that some assets on certain days may incur commissions for transactions on an Islamic account.
To open an Islamic account with FxPro, you need to apply by email to the company's back office at backoffice@fxpro.com. FxPro specialists will promptly process your request and help you set up the account according to your needs.
VPS
For those who prefer algorithmic trading, FxPro offers a virtual dedicated server. The VPS allows you to place robots or advisors on MT4, MT5, and cTrader platforms.
VPS Specifications
- 2560 MB RAM / 1vCPU
- 30 GB hard drive
- Windows 2012 / 2016, Linux
VPS on FxPro costs 30 USD monthly or is free for a VIP account.
Commissions
FxPro's commissions can be considered average in the market. Trading commissions and spreads align with the market, and while the inactivity fee may be unpleasant for some traders, it is a standard practice in the industry. However, the absence of fees for depositing and withdrawing funds is a significant advantage for the broker.
Trading Commissions
The central trading commissions charged by FxPro can be broadly divided into:
- The commission per lot;
- Spreads and swaps.
Commission per Lot
FxPro charges a transaction fee on Raw+ and Elite accounts. The commission is $3.5 per lot, which can be rated as an average level for the market. On other types of accounts, no transaction fee is charged.
Below is the commission per lot on EURUSD at different Forex brokers:
| Broker | IC MarketsRaw Spread | PepperstoneRazor | FxProRaw+ | RoboforexECN | AMarketsECN |
|---|---|---|---|---|---|
| Commission per lot | $3.5 | $3.5 | $3.5 | $2.16 | $2.5 |
Spreads
The central commission for most account types at FxPro is the spread. The average spread for the popular EUR/USD currency pair under normal conditions does not exceed 1.6 points. It is also worth noting that spreads can vary depending on the trading platform. Generally, FxPro spreads and swaps can be average on the market.
Below are the spreads and swaps of FxPro on the Standard account.
| Asset | Average spread | Swap long | Swap short |
|---|---|---|---|
| AUDUSD | 1.8 pips | -3.75 pips | -0.15 pips |
| EURUSD | 1.5 pips | -7.10 pips | 2.20 pips |
| GBPUSD | 1.7 pips | -3.55 pips | -1.95 pips |
| NZDUSD | 2.6 pips | -2.27 pips | -1.83 pips |
| USDCAD | 2.4 pips | -1.55 pips | -1.85 pips |
| USDCHF | 2.4 pips | 6.15 pips | -12.80 pips |
| USDJPY | 1.6 pips | 11.85 pips | -28.25 pips |
Inactivity Fee
Suppose any trading accounts become inactive, meaning you have no open positions and have not opened or closed a position for 6 months. In that case, FxPro may charge an inactivity fee of $10 (or the equivalent in another currency) for the maintenance and administration of such an account. The inactivity fee will continue to be charged monthly if the account remains inactive.
If the balance of an inactive account is less than $10 (or the equivalent in another currency), the inactivity fee for such an account will equal the remaining balance. If all your trading accounts are inactive, FxPro reserves the right to charge the inactivity fee from your wallet. The broker will not send notifications before charging the said fees. It is your responsibility to monitor the status of your account(s) and to take actions that you deem necessary.
Deposit and Withdrawal
FxPro provides a wide range of methods for depositing and withdrawing funds, including bank transfers, credit/debit cards, electronic wallets, and cryptocurrencies, which are convenient for most traders.
Generally, the broker does not charge fees for deposits or withdrawals, which is a significant advantage. However, it is crucial to consider that fees from payment systems or banks may apply.
Withdrawal restrictions for clients who fund their accounts by card can cause some inconvenience, but they are due to the requirements of payment systems and security norms, which is standard practice for most brokers.
The processing time for transactions can vary depending on the chosen method, but this is also standard practice in the market.
Account Funding Methods
You must first open a "FxPro Wallet" in your account for all financial operations. Funds will be credited to it, which can be distributed across several trading accounts.
The wallet is replenished in the personal account as well.
| Payment System | Currencies | Deposit Fee | Operation Limit |
|---|---|---|---|
 Skrill |  USD EURGBP. . .show all | 0% | from 100 to 10000 USDfrom 100 to 10000 EURfrom 100 to 10000 GBP. . .show all |
 Neteller | USDEURGBP. . .show all | 0% | from 100 to 10000 USDfrom 100 to 10000 EURfrom 100 to 10000 GBP. . .show all |
 Perfect Money | USDEUR RUB | 0% | from 100 to 10000 USDfrom 100 to 10000 EURfrom 5000 to 600000 RUB |
 Swift | USDEURGBP. . .show all | 0% | — |
 SEPA | EUR | 0% | — |
 Visa | USDEURGBP. . .show all | 0% | from 100 to 10000 USDfrom 400 PLNfrom 10000 to 1000000 JPY |
 Mastercard | USDEURGBP. . .show all | 0% | from 100 to 10000 USDfrom 400 PLNfrom 10000 to 1000000 JPY |
 Maestro | USDEURGBP. . .show all | 0% | from 100 to 10000 USDfrom 400 PLNfrom 10000 to 1000000 JPY |
 UnionPay | USD CNY | 0% | from 100 to 7200 USD |
| Cryptocurrency | Blockchain | Deposit Fee | Operation Limit |
|---|---|---|---|
 USDT
(Tether) | TRC20 | 0% | — |
| USDT
(Tether) | ERC20 | 0% | — |
 BTC
(Bitcoin) | BTC | 0% | — |
 ETH
(Ethereum) | ERC20 | 0% | — |
 LTC
(Litecoin) | LTC | 0% | — |
 USDC
(USD Coin) | ERC20 | 0% | — |
FxPro does not charge fees; however, a bank commission is charged for deposits made by bank transfer.
Depositing from a card implies a commission of 1.6% and subsequent withdrawal to the same card of the total deposit amount – only after this will other withdrawal methods become available. In some cases, this can cause inconvenience.
Withdrawal Methods
| Payment System | Currencies | Withdrawal Fee | Operation Limit |
|---|---|---|---|
| Neteller | USDEURGBP. . .show all | 0% | up to 10000 USDup to 10000 EURup to 10000 GBP. . .show all |
| Skrill | USDEURGBP. . .show all | 0% limitscommission limits | up to 10000 USDup to 10000 EURup to 10000 GBP. . .show all |
| Perfect Money | USDEURRUB | 0% | up to 10000 USDup to 10000 EURfrom 5000 to 600000 RUB |
| SEPA | EUR | 0% | from 100 EUR |
| Swift | USDEURGBP. . .show all | 0% limitscommission limits | from 100 USD |
| Maestro | USDEURGBP. . .show all | 0% | up to 50000 USDup to 1000000 JPY |
| UnionPay | USDCNY | 0% limitscommission limits | up to 1000000 CNY |
| Mastercard | USDEURGBP. . .show all | 0% limitscommission limits | up to 50000 USDup to 1000000 JPY |
| Visa | USDEURGBP. . .show all | 0% limitscommission limits | up to 50000 USDup to 1000000 JPY |
| Cryptocurrency | Blockchain | Withdrawal Fee | Operation Limit |
|---|---|---|---|
| USDT
(Tether) | TRC20 | 0% | — |
| USDT
(Tether) | ERC20 | 0% | — |
| BTC
(Bitcoin) | BTC | 0% | — |
| ETH
(Ethereum) | ERC20 | 0% | — |
| LTC
(Litecoin) | LTC | 0% | — |
| USDC
(USD Coin) | ERC20 | 0% | — |
Clients who have funded their account by card can withdraw money only up to the amount they have deposited with that particular card in the last 6 months or 1 year, depending on the processing.
Markets and Products
FxPro offers an extensive selection of markets and products for trading.
What markets are available?
Clients can trade 69 currency pairs on Forex and have access to a broad range of CFDs on indices, stocks, agricultural commodities, oil, precious metals, and cryptocurrencies.
| Broker | IC Markets | FxPro | Pepperstone |
|---|---|---|---|
| Forex | 61 | 69 | 97 |
| Precious Metals | 7 | 13 | 20 |
| Energy Carriers | 5 | 6 | 4 |
| Soft Commodities | 8 | 7 | 16 |
| Indices | 25 | 29 | 26 |
| Stocks | 2175 | 1971 | 986 |
| ETF | 38 | — | 108 |
| Bonds | 10 | — | — |
| Cryptocurrency | 21 | 28 | 30 |
Leverage
There is no maximum order size limit. The maximum trading leverage varies depending on the instrument, platform, account type, and deposit size and ranges from 1:10000 to 1:1.
| Trading Instrument | Max. Leverage for Retail Traders |
|---|---|
| Forex | 1:10000 |
| Precious Metals | 1:10000 |
| Energy Carriers | 1:200 |
| Soft Commodities | 1:50 |
| Indices | 1:500 |
| Stocks | 1:25 |
| Cryptocurrency | 1:500 |
FxPro uses a dynamic leverage model, allowing the leverage size to adapt relative to traders' trading positions automatically.
Trading Platforms
The selection offered by FxPro is diverse, providing various platforms suitable for different trading styles and preferences. Here's a brief overview of each platform:
MetaTrader 4
The classic MetaTrader 4 platform is customized to meet the broker's requirements. It's available in a traditional version for PCs, a fast web version, and a mobile version for smartphones/tablets on iOS and Android. For managing multiple accounts at once, there's the MT4 Multiterminal version.
Features of MetaTrader 4 on FxPro:
- Over 50 pre-installed technical indicators
- 24 analytical tools
- 3 chart types and 9 timeframes
- One-click trading
- Trailing stop
- News feed and mailbox
MetaTrader 5
The latest version of MetaTrader offers more timeframes and limit stop orders. In addition to the desktop version, it's also available on mobile.
Features of MetaTrader 5 on FxPro:
- 38+ pre-installed technical indicators
- 44 analytical tools
- 3 chart types and 21 timeframes
- Additional types of pending orders (sell stop limit and buy stop limit)
- Detachable charts
- One-click trading
- Trailing stop
- Built-in economic calendar
- Depth of Market (DOM)
cTrader
cTrader is an ECN platform for CFDs with Level II pricing, spreads starting from 0 pips, and Market Execution. It's available in three versions: for PC, as a web application, and mobile.
Features of cTrader on FxPro:
- 55+ pre-installed technical indicators
- 44 analytical tools
- 6 chart types and 28 timeframes
- Additional types of pending orders (sell stop limit and buy stop limit)
- No restrictions on stop and limit orders
- One-click trading
- Enhanced order protection
- Trailing stop
- Workspace customization
- Depth of Market (DOM)
- Add cBots and indicators
- News feed and built-in economic calendar
- Trade statistic analysis
- Time zone selection
- Trader sentiment indicator
FxPro Edge
FxPro Edge is a user-friendly web platform with market depth, fast market execution, a convenient chart analysis system, and a wide range of indicators. It also has a version for mobile devices.
Analytics
FxPro offers its clients a diverse range of market analysis services. These include analytics from the renowned provider Trading Central, access to the powerful analytical package Autochartist, an economic news calendar, charts of currency exchange rates and instrument volatility, and trading conditions for each instrument. Additionally, on the company's official YouTube channel, you can find forecasts, market reviews, and helpful videos.
Analysis Services
The company provides its clients with:
- Analytics from Trading Central, a known provider of technical analysis services;
- Access to Autochartist – a robust analytical package capable of evaluating probabilities and filtering trading signals.
FxPro's website features an economic news calendar and a schedule for corporate earnings reports. A universal currency calculator is also available on the site to assist traders.
Moreover, for each financial instrument, FxPro offers the trader:
- An online exchange rate chart;
- A chart of the instrument's volatility;
- Trading conditions for the given instrument.
Video Analytics
FxPro has an official YouTube channel where the company's analysts post:
- Forecasts and insights;
- Daily market reviews based on wave analysis;
- Webinar recordings and other valuable videos for beginners.
Education
The "Education" section on the FxPro website offers a variety of educational materials for traders. Free courses for beginners, fundamentals of technical and fundamental analysis, articles on trading psychology, online quizzes, and video tutorials are included. The materials provided allow traders to grasp the basics and deepen their trading knowledge.
However, it should be noted that there are no forms of education that offer instant feedback from an instructor. For example, the broker does not conduct webinars, podcasts, or personal coaching sessions.
What educational materials are available?
In the "Education" section of the site, the following are available:
- Free trading courses for beginners;
- Fundamentals of technical and fundamental analysis;
- Articles on trading psychology;
- Online tests for self-assessment;
- Video instructions for both beginners and advanced traders.
Customer Support
FxPro offers various communication channels for technical support, including online chat, a callback service, and email. Clients can seek assistance through an international toll-free line or via email. The technical support is available 24 hours a day, 5 days a week.
How to contact support?
FxPro clients can request support by writing in the live chat or ordering a callback directly from the website.
There is also an international toll-free line available:
- Free from the UK: 0 8000 463 050
- Global support: +44 (0) 203 151 5550
Support can also be contacted via email at support@fxpro.com.
Support Hours
FxPro technical support operates 24/5, in line with the forex market hours.
Feedback on Support
FxPro's technical support receives high ratings from traders for its speed and service efficiency. Clients note that assistance is provided promptly, particularly valuable for newcomers needing guidance and support. Difficulties with technical and financial issues are resolved quickly, maintaining FxPro's reputation as a reliable broker.
Conclusion
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
FAQ
Is FxPro legit?
Yes, FxPro is a legitimate broker regulated by several reputable authorities, including the FCA (UK), CySEC (Cyprus), FSCA (South Africa), and SCB (Bahamas).
Which country is FxPro from?
FxPro was founded in the UK and is headquartered in London.
Is FxPro an ECN broker?
No, FxPro is not strictly an ECN broker. It operates as a hybrid broker, offering both market execution and instant execution through various trading platforms.
How does FxPro make money?
FxPro makes money through spreads, commissions on certain types of accounts, and overnight financing fees.
Is FxPro good for beginners?
Yes, FxPro is suitable for beginners due to its extensive educational resources, user-friendly platforms, and comprehensive customer support.
Does FxPro offer a demo account?
Yes, FxPro offers a demo account for traders to practice and familiarize themselves with the platform before trading with real money.
How can I open an account with FxPro?
To open an account with FxPro, visit their website, click on the "Register" button, and follow the on-screen instructions to complete the registration process.
How can I delete my FxPro account?
To delete your FxPro account, you need to contact their customer support team, which will guide you through the account closure process.
What is the minimum deposit for FxPro?
The minimum deposit for FxPro is $100.
What is the maximum leverage on FxPro?
The maximum leverage on FxPro is 1:10000, but it may vary based on the asset class and regulatory restrictions.
How do I deposit funds in a FxPro account?
You can deposit funds into your FxPro account using various methods, including bank transfer, credit/debit cards, cryptocurrencies, and e-wallets such as Neteller and Skrill.
How do I withdraw money from FxPro?
To withdraw money from FxPro, log in to your account, go to the "Funds Management" section, select "Withdraw Funds," and follow the instructions.
Does FxPro provide VPS?
Yes, FxPro provides a Virtual Private Server (VPS) service to ensure optimal trading conditions and uninterrupted operation for automated trading strategies.
Is FxPro suitable for scalping?
Yes, FxPro is suitable for scalping as it allows this trading strategy on its platforms.
Is FxPro suitable for auto-trading?
Yes, FxPro is suitable for auto-trading and supports various automated trading strategies through platforms like MetaTrader 4, MetaTrader 5, and cTrader.
Is FxPro suitable for hedging?
Yes, FxPro is suitable for hedging and allows traders to hedge their positions on its platforms.
Is FxPro suitable for spread betting?
Yes, FxPro is suitable for spread betting. Spread betting is available to all clients of FxPro UK Ltd who reside in the United Kingdom. The new Spread Betting Platform, FxPro Edge, is fully customizable and allows clients to trade hundreds of instruments across five asset classes, tax-free.
