FxPro is a broker that you may be tempted to try out, especially if you are at the start of your journey. As a newcomer, you may be very confused. There are way too many results on the search engine when you are looking for good trading platforms and seeing FxPro there might not convince you. Fortunately for you, this is the right place to get your FxPro information.
In this review, we will go over the things that FxPro has to offer and at the end of it, you will be able to decide if you want to get started with this platform or not. So, let’s get started!
Who Is FxPro for?
FxPro is the right platform for someone looking for a broker that has some experience with trading. Since it was established in 2006, it has a lot of market history, which is a good thing. On top of that, it is also a great option for people looking to trade Forex and CFDs only. If this is your goal in terms of trading, then you can rest assured FxPro will have you covered.
If good customer service is also a key feature for you when deciding on a trading platform to use, FxPro is a wonderful option. The customer service is great and always willing to help. Moreover, FxPro is a good option if you are looking for a place where you can open your account in a matter of minutes.
Things We Like
The fact that the platform has support in 21 languages was one of the things that truly impressed us. Since it is available for so many countries, it is great to have support in languages other than English. This means that more people will be able to get help when they need it. There is also a readily available demo account. On top of that, we loved the trading tools and their uniqueness.
Another thing we like is the fact that the account opening process is easy and fast. It all goes smoothly so you can start trading right away. Deposits and withdrawals are free, and this is great for people who are on a budget. The great customer service is also something we have to praise. With trading platforms, it is always essential to have a supportive team that can answer your questions or solve certain issues in a timely manner.
Things We Don’t Like
Some things were a bit disappointing for us to see. There are no promotions or bonuses, and while they are not necessarily a must, they could definitely help people save money or just make them more willing to trade.
Besides, there are very high fees for certain stock CFDs. An inactivity fee also applies, so you need to be ready to use your account from the get-go unless you want to be charged extra fees.
Another thing we didn’t like is the fact that only Forex and CFDs trading is available. While that may be great for some people, others may be looking for a more complex product portfolio, so they’d have to search for other products on different websites instead.
Pros / Cons
- Superb account opening process
- Great customer service
- Free deposit and withdrawal
- Only CFDs and forex
- High trading fees for some stock CFDs
- Inactivity fee
Safety and Regulation
FxPro can be just what you are looking for if you are interested in CFDs and Forex. But even so, that’s not enough to trust the platform. There are still things you should learn, particularly regarding its safety level. We will look into that below.
Who Is FxPro?
FxPro is a broker that was established in 2006 and offers Forex and CFDs trading. The broker gives people access to many large markets. It made a reputation for itself as one of the largest global brokers for Forex. Also, it managed to gain more than 870,000 users, which says something about the way FxPro is looked at by traders.
FxPro is owned by FxPro Group Limited, which is Cyprus-based. It also has subsidiaries, with one of them being FxPro UK Limited. This is the London branch of the company, and it was made in order to bring improvements regarding the UK audience, which is the largest client base part.
Is FxPro Regulated?
The broker is regulated by several top-tier financial authorities all over the world. One of them is the Financial Conduct Authority, which is one of the best authorities for the U.K.
Is FxPro Safe?
FxPro is considered safe by many, even though there were a lot of concerns regarding its operations. The chances are that if you look for information about the broker online, you will find some not-so-good reviews. Whereas FxPro tried making improvements, it is not 100% trustworthy. Some users certainly had negative experiences with it, which is a red flag. On top of that, there are a few things that do not make the broker look good at all.
For example, there is a lack of financial information, and this shouldn’t be the case unless the company has something to hide. Then, it is not listed on the stock exchange, and it doesn’t have a banking license either. It really makes you doubt their trustworthiness altogether.
At the same time, the broker has been around for a very long time, and it had over 800,000 users, which means that it must be doing something right. It is regulated by some top-tier authorities, and it offers negative balance protection as well.
Countries It Accepts Clients from
FxPro offers services for more than 170 countries globally, and one of them is the UK.
Even though there have been some concerns regarding its safety, FxPro has won a lot of awards. In fact, it won more than 70 international and U.K. awards over the years, which is good news. Ten of these awards have been for the best broker of that year.
Range of Offerings and Products
FxPro allows you to trade CFDs, especially those of underlying asset classes, such as indices, futures, commodities, stocks, and Forex.
There are 70 currency pairs, 273 stock CFDs, 19 stock index CFDs, 17 cryptos and 30 commodity CFDs. The downside is that other products like ETFs or real stocks are unavailable.
FxPro comes with various trading platforms for its users. You can get a desktop platform, but also a web and mobile one. The coolest thing is that FxPro operates through one of the most popular trading platforms, respectively MT4. It offers a clear fee report, and it is highly customizable as well. Sadly, it has an outdated design, there are no price alerts, and it lacks 2-step authentication.
The web trading platform is also good, and it comes with good customizability and order confirmation, as well as a clear fee report. Just like the desktop one, there are no price alerts and no 2-step login, while the design is pretty bad.
Lastly, the mobile platform is perhaps the best option out of the three. It brings price alerts to the table, and it is user-friendly. The search function is good as well. If you don’t mind the lack of Face ID or no-touch login, as well as the lack of a 2-step login, it can be quite nice to use. There isn’t any order confirmation either.
FxPro offers multiple account types, respectively MT4, MT5, MT4 Instant, MT4 Fixed, FxPro Edge, and cTrader. All of them differ in terms of execution, pricing, and trading platform.
To make deposits, you can use bank transfers, e-wallets, or a card. There are no deposit fees, which is pretty great.
FxPro has a required minimum deposit of $100.
Withdrawals can also be done using cards, e-wallets, and bank transfers, and while there are no fees in general, there may be exceptions.
A demo account is available too, serving as a great tool for people who are just getting started.
FxPro offers no promotions or bonuses, which can be disappointing to see if you were looking for something like that. Still, this shouldn’t be a deal-breaker.
Client Support and Education
Many educational tools are offered by FxPro, one of them being the demo account that helps you get familiar with the site and its features. But apart from that, there are other things to look forward to as a newbie, such as educational videos, trading platform tutorials, and written educational materials. The disadvantage is that there are no webinars.
Verdict – Overall Rating
FxPro is good in certain aspects, but it is not considered the safest or the best broker out there. It can surely be a great benefit to make deposits and withdrawals with no fees while having access to a wide range of educational materials.
However, the safety concerns are not to be ignored. You will have to proceed with caution if you decide to use FxPro for your trades. Also, the platform should improve its educational materials and perhaps add some promotions and bonuses too. Overall, the broker may be good only for certain people.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
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There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
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