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FxPro Review (2022) Is FxPro Legit or a Scam Forex Broker ☑️



  1. What is FxPro?
  2. FxPro Pros and Cons
  3. Awards
  4. Is FxPro safe or a scam?
  5. Leverage
  6. Account types
  7. Fees
  8. Spreads
  9. overnight fee
  10. Deposits and Withdrawals
  11. Trading Platform
  12. Customer Support
  13. Education
  14. Conclusion

What is FxPro?

FxPro started its operation in 2006 as an online forex broker and since then enhanced its service dramatically, by its aim and follow of a client-centric approach. In fact, FxPro now serves retail and institutional clients from around 170 countries through over 2 Million Trading accounts which made it one of the leading Forex Brokerages.

FxPro Pros and Cons

FxPro has long history of operation and is a heavily regulated Broker. The account opening is easy and offers various account types, good range of trading platform, while costs are low and with different pricing models. FxPro education and research is high quality and beginners are welcome.

On the flip side proposal conditions are different fo each jurisdiction, and deposit methods are not available at some regions.

FxPro Review - Website

10 Points Summary
🏢 Headquarters UK
🗺️ Regulation FCA, CySEC, FSCA and SCB
🖥 Platforms MT4, MT5, cTrader, FxPro Edge
📉 Instruments Forex and CFDs on 6 asset classes, with over than 260 instruments
💰 EUR/USD Spread 1.2 pips
🎮 Demo Account Available with no limits
💰 Base currencies EUR, USD, GBP, CHF, PLN, AUD, JPY, ZAR
💳 Minimum deposit 100 USD
📚 Education Profesisonal education and free reserch tools
☎ Customer Support 24/5

Awards

Of course, tons of customers around the world and general reviews bringing the understanding that FxPro achieved sustainable trust in the industry and gained the highest ranks. But in addition to that, international rewards from the largest financial institutions and organizations brought a conclusion that the manner FxPro operates its NDD execution and operation itself deserves recognition too.

Starting from 2008 the company obtained numerous awards, and so far holding 85+ UK & international awards, as well as takes an active part in sponsorships.

  • ‘Best FX Provider’ | Online Personal Wealth Awards
  • ‘Most Trusted Forex Brand UK’ | Global Brands Magazine

FxPro sponsorship

Is FxPro safe or a scam?

No, FxPro is not a scam. FxPro is considered to be a safe broker to trade. It is regulated and licensed by several top-tier financial authorities including FCA, CySEC. Therefore, it is secure and low-risk to trade FX and CFD with FxPro.

Is FxPro legit?

Eventually, FxPro is an established brokerage firm in various jurisdictions, therefore it is regulated and authorized not only by one regulator but by several, which gives it extra layers of security and always for traders’ better.

FxPro Group Limited is the holding company that consists of – FxPro Financial Services Ltd, FxPro UK Limited, FxPro Global Markets MENA Limited and FxPro Global Markets Limited. The group headquarter is in the UK, however, broker serves offices in the UK, Cyprus, Monaco and Bahamas. As a licensed broker FxPro subject to strict European laws, providing its financial services guaranteed by legal regulatory agencies such as CySEC and FCA.

FxPro entity Regulation and License
FxPro UK Limited FCA (UK) registration no. 509956
FxPro Financial Services Limited CySEC (Cyprus) registration no. 078/07
FxPro Financial Services Ltd FSCA (South Africa) registration no. 45052
FxPro Global Markets Ltd SCB (Bahamas)registration no. SIA-F184

How are you protected?

The regulated status of the broker, first of all, ensures its legit status, a regular check on the performance from the respected authority that ensures the client’s deposit by the set of protective measures. Client funds are stored in segregated accounts of European investment-grade banks, while the trader is a participant in the compensation of investors in case of FxPro insolvency, as well trade with negative balance protection.

Leverage

Leverage specification at FxPro offers a dynamic forex leverage model with various levels as the regulatory requirements of a particular entity set and obliged broker to follow. As we found already before, FxPro offers trading access through 3 main trading platforms that automatically adapt the clients’ trading positions, thus you can choose a suitable level to you and adjust to your strategy.

The maximum leverages offered by FxPro entities are detailed below since conditions vary according to entity regulatory obligations and applicable rules and ranges between

  • 1:30 for European Clients
  • up to 1:200 for International traders

FxPro Leverage

Account types

FxPro Accounts offer one account with a full package of advantages proposed by FxPro, also Micro Accounts and Swap-free accounts are available too. Demo account for practices remain available with Live account through easy switch between Live and Demo account right from the platform.

FxPro accounts

Fees

FxPro trading fees are built into the FxPro tight spread, which is a difference between bid and ask price. However to understand full picture check all broker fees too, like additional fees commission for deposits or withdrawal also non-trading fees. See FxPro fees below.

Fees FxPro Fees Go markets Fees XM Fees
Deposit Fee No No No
Withdrawal Fee No No No
Inactivity Fee Yes Yes Yes
Fee ranking Low, Average Low High

Additional fees

You should consider also FxPro overnight fee charged by the broker in addition to the spread, for Forex pairs the cost or income is calculated as the interest rate. Or differential between the Tomorrow Next Deposit Rate of the 2 currencies in question, plus the commission charged by the broker.

This depending on the type of the position long or short, as well instrument you use thus you may either gain or lose on swap or rollover.

Spreads

FxPro offers both variable and fixed spread (Find brokers with fixed spread), while fixed available only through the MT4 platform, yet FxPro cTrader offers market execution with an average spread Eur/Usd 0.3 and 45$ commission per 1$ million traded.

Overall, FxPro spreads and costs considered to be low among the industry offering, for instance check and compare FxPro fees with its peer FP Markets.

Asset/ Pair FxPro Spread GO Markets Spread XM Spread
EUR USD Spread 1.2 pips 1.2 pips 1.6 pips
Crude Oil WTI Spread 5 1.9 5
Gold Spread 27 1.4 point 35

FxPro Cryptocurrencies

Instruments

At the development stage FxPro started as a forex broker and then spread further into providing CFDs on 6 asset classes, with over than 430 instruments. We see within our FxPro Review that the broker still continues its development by adding on more instruments hence influence the company’s growth too.

The FxPro Cryptocurrencies offering speculation on CFDs with the most popular cryptos, which is a great advantage too.

FxPro instruments

Deposits and Withdrawals

There is a multitude of ways to fund the trading account as well as to enjoy 0$ fee for money transfers, yet be sure to verify conditions according to the FxPro entity you will trade through.

Deposit Options

At present FxPro supports 6 different payment methods

  • Bank wire transfer,
  • Credit Cards,
  • PayPal,
  • Skrill,
  • Neteller
  • UnionPay

In addition to popular account base currencies, clients can perform deposits using several different currencies including USD, Euro, KWD, AED, SAR, and RMB which means you won’t be charged the conversion. However, every entity support various deposit methods, for details check official source FxPro.

What is the minimum deposit for FxPro account?

FxPro Minimum Deposit is set to 100$, however, the broker recommends to deposit at least 500$ in order to enjoy full features of the trading itself.

Withdrawals

FxPro Withdrawal fee and deposit charges as a pleasant addition from FxPro is 0, means there is no charge for withdrawal at any of the payment methods. Withdrawals usually processed within 1 day while using the same payment method as the deposit was done.

FxPro deposit

Trading Platforms

Let’s get closer to the particular FxPro offering and see why the world traders prefer this choice.

First of all the platforms range offers the truly powerful software through an option to suit your personal needs, either by the industry-leading FxPro MetaTrader4 or its newest version FxPro MetaTrader5. Or maybe to stick with the super technological platform FxPro cTrader or to use the proprietary platform FxPro Edge for Spread Betting.

Pros Cons
MT4, MT5, Proprietary FxPro Edge, and cTrader Conditions may vary according to entity and platform
Copy Trade, Social Trading and Technical Indicators
Great selection of software suitable for any type of a trader
No restrictions on strategies
Fast execution and selection between its methods
Platforms available in various languages

Web Platform

Before we also jumping into the details about each of the platforms, the general conditions offering various order executions either Instant or Market Execution with tiered liquidity orders.

Each platform features Web Platforms with different stop out or limit levels, slightly vary in its instrument offering or may charge spread only or include commission per trade but with a lower spread (read Fee paragraph for detailed info).

Desktop Platform

The desktop platform of course available for download and suitable for any device, while with the desktop version you will get full package and sophistication each platform may offer.

Another technological solution and advantages of FxPro lays on the ground at every platform and depending on trader what is the technology you prefer to use.

Yet, what we could say there are vast opportunities, tools, measures and add-ons available with automatic trading, no restrictions on scalping, or option to use proven managers and pre-tested trading strategies under all major risk management rules.

Moreover, all traders are offered to use a VIP package of services that includes a number of advantages: free VPS-server, no deposit fees, SMS-notification of the margin, free news reports and many more.

FxPro platfrom

Mobile Platform

Another good point is to admit powerful mobile app FxPro designed, where you will find full control over your trading account, easy switch between Demo and Live modes and able to perform basic analysis and trades as well. All possible right from your mobile device.

Customer Support

FxPro offers a dedicated multilingual customer service team available 24/5 with a purpose to provide you with support any trader may need. Actually, FxPro shows quite good rankings and satisfied by its quality of service among traders and the community as well, which is definitely a plus.

Besides, FxPro is available around the clock in various countries due to its presence and run of support service offices, so you can contact them via any suitable method including live Chat, International lines and emails as well.

Education

Beginners are very much welcomed at FxPro, that is why broker supports with professional education materials and courses designed by the level of experience. Fundamental, technical and other analysis reports also available along with educational videos, webinars, ebooks and other essential materials.

Besides, you will get exclusive trading tools FxPro included into its proposal that offers Economic Forex Calendar, Technical Analysis performed by Trading Central, 8 FxPro calculators and more.

FxPro education

Conclusion

Overall FxPro is a very customer friendly broker that besides to its good reputation and reliability, due to heavy regulation, offers an advantage to the traders of different level and expertise. Trading conditions are good, costs are low and well-developed company’s analytical and education is organized in simply an astonishing way.

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