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        Overview

        Introduction and Comments

        Website: https://www.fxpro.com/

        FxPro was established in 2006 as a global CFD and forex broker. It is a no-dealing desk interventionbroker with over 445 million clients’ orders being executed.

        Clients have the option to perform their trades using the award-winning MetaTrader4 and MetaTrader5 platforms, or they can take advantage of the newer cTrader platform, which is also gaining popularity among traders from around the world. Finally, spread betting clients can take advantage of the newest offering from FxPro, which is the FxPro Edge platform. The innovative web-based platform allows traders to take advantage of tax-free spread betting with no commissions and tight spreads.Spread betting only for UK clients.

        FxPro has a fairly long history, being established in 2006 and growing rapidly since. The broker now services both retail and institutional clients from over 170 different countries. It is a safe broker, with licenses from four different regulators, and tier-1 capital in excess of €100 million.

        Traders have the ability to trade 6 different asset classes. The trading platforms ensure rapid execution, and re-quotes on less than 1% of all trades. That aside, FxPro does have a disclaimer that 71.58% of its clients lose money when trading forex and CFD products.

        Quick Look at FxPro

        As part of the research process to write this review, we set up a demo account with FxPro and a

        As part of the research process to write this review, we set up a demo account with FxPro and accessed their website and their mobile trading platform. The process of opening a demo account was straight-forward and quick.

        Rather than look at the MetaTrader4 /5 platforms, which have been widely reviewed, we decided to test the cTrader platform. The cTrader platform offers smaller spreads starting at just 0.2 pips average for the EUR/USD pairing but charges a commission of $4.50 per 1 lot traded.

        The cTrader platform has a professional display and clear interface. It is intuitive and user friendly making it easy for beginner traders to navigate.

        Placing orders was a breeze, and so was adding analysis tools to the charts. This makes the platform suitable for both new and experienced traders.

        Other features we liked in the cTrader platform was the addition of live chat, the ability to set alerts, the option to turn one-click trading on and off and the extensive customisations that are available to traders.

        FxPro Regulations & Licenses

        Countries/Regulators

        FxPro UK Limited has been authorised and regulated by the Financial Conduct Authority in the UKsince 2010. FxPro Financial Services Limited has been authorised and regulated by the CySEC in Cyprus since 2007 and by the FSCA in South Africa since 2015.

        • FxPro UK Limited is authorised and regulated in the UKby the Financial Conduct Authority (registration no. 509956).
        • FxPro Financial Services Limited is authorised and regulated in Cyprus by the Cyprus Securities and Exchange Commission (licence no. 078/07).
        • FxPro Financial Services Limited is authorised in South Africa by the Financial Sector Conduct Authority ('FSCA') (authorisation no. 45052).
        • FxPro Global Markets Limited is authorised and regulated by the Securities Commission of The Bahamas (license no. SIA-F184).

        Languages

        The FxPro website is offered in 29 languages to traders all across the globe. The cTrader platform is as diverse, with 22 different languages included. MetaTrader4 and 5 each include nearly all the world’s major languages as well. Customer support is provided in 21 different languages.

        FxPro Account types

        Retail Trader Accounts

        All clients at FxPro have the same retail account, although there are some differences based on which trading platform is being used. For example, only traders using the MetaTrader4 platform have access to fixed spread trading.

        Clients can choose to trade on the MetaTrader4 platform, the MetaTrader5 platform, The cTrader platform and the Fx Pro Edge platform. All are available as web-based trading, mobile trading, or as a desktop client. The minimum deposit is $100 no matter which platform is used. Variable spreads are best on the cTrader platform (avg. 0.2 pips for EUR/USD) (avg. 1.4 pips for EUR/USD) on the MetaTrader5 platform.

        In all cases clients receive no-dealing desk execution. Expert Advisors can be used with MetaTrader4 and MetaTrader5. Clients on cTrader benefit from no minimums on stop and limit orders, and there are no requotes with the exception of instant transactions on the MetaTrader4 platform.


        Demo Account

        All traders are able to open a demo account at FxPro and practice trading without risking any real money. Demo accounts can be used to test any of the available platforms and come with up to $500,000 in virtual funds. Please note that inactive accounts are deactivated after 180 days. Users are required to register as clients at FxPro before they access the demo platforms. This could take a couple of minutes to complete the registration process and download the clients’ preferred trading platform.

        FxPro Fees, Costs & Spreads

        FxPro has competitive spreads and costs, and compare favourably with most other brokers. They also pride themselves in avoiding re-quotes in most cases. In 2020 there were requotes on just 1.14% of all orders, and 0.54% of those were positive requotes.

        The minimum deposit to trade with is $100 for all accounts/platforms. Clients will not be charged any fees for deposit, although the client’s bank or credit card company may assess their own fees.

        Spreads are variable and average spreads for the EUR/USD pair are 0.3 pips on the cTrader platform, 1.44 pips on the MetaTrader5 platform, and 1.44 pips (market execution) or 1.64 pips (instant execution) on the MetaTrader4 platform.

        Commissions are only charged for FX pairs and spot metals on the cTrader platform. The commission charges are $45 per $1 million traded.

        FxPro also charges swap/rollover charges on positions held overnight. It is possible to receive a swap credit as well. Swap charges are automatically debited/credited at 21:59 GMT on Monday-Thursday. On Friday the swap/rollover is charged three times to account for the weekend. It is possible to open a swap free account at, however these accounts incur commission charges.

        Deposits & Withdrawals

        FxPro accepts deposits via wire transfer, credit cards (Visa, Maestro, MasterCard) or through eWallets such as PayPal, Skrill, Neteller or UnionPay, and there are no fees for any deposits being made. Deposits must come from accounts that are in the same name as the FxPro account holder’s name. Credit card deposits are credited within 10 minutes; however bank deposits can take far longer based on bank transfer times.

        FxPro does not charge any fees/commission on deposits/withdrawals, however a fee will be applied for withdrawal from E-wallets if the client has not traded.

        Withdrawals are also done via bank transfer or credit card and no third-party transfers are allowed. Both bank transfers and credit card withdrawals require 1 day for processing. There are no fees charged for any withdrawals.

        *Bank transfers fees may apply depending on the bank involved.

        The FxPro Wallet is an alternative offered that allows clients to keep funds available for trading but segregated from the trading account. Clients may also keep multiple currencies in the FxPro Wallet and then fund multiple trading accounts in various currencies.

        FxPro Trading Platforms

        FxPro offers four different trading platforms to clients. The MetaTrader4, MetaTrader5, cTrader and the FxPro Platform (EDGE) are all used for CFD trading, while the FxPro Edge platform also offers spread betting to UK clients, giving traders tax-free access to the markets. All of the platforms have mobile versions, web-based versions, and downloadable desktop versions.

        MetaTrader 4 and 5

        MetaTrader4 and MetaTrader5 are the well-known, award-winning trading platforms used by many forex traders around the world. They are extremely powerful in their technical analysis capabilities. They also extend the trading capabilities to automated executions through the use of their Expert Advisors. FxPro is an award winning MetaTrader broker and one of the most popular FX brokers in the UK.

        cTrader

        cTrader has more advanced features than the MetaTrader platforms, giving clients plenty of analysis capabilities, but a more streamlined and modern display. It's also highly customisable, giving traders the option to rearrange modules, conduct analysis, and change the look and feel of charts.

        cTrader also adds several features such as the FXStreet Economic Calendar, which gives clients real-time information about global economic events and indicators. It also includes the powerful Autochartist Market Analysis tool, which can help identify potential trading opportunities.

        The cTrader platform was developed for efficient trade execution, and it delivers that with lower spreads and blazing fast execution speeds.

        FxPro Edge

        The FxPro Edge account is specifically for UKtraders who are looking to take advantage of the tax benefits offered by spread betting.

        Assets Available

        With a large number of assets across 6 different asset classes, clients can access over 2100 forex pairs, and over 430 different assets in total. In general traders are going to find that all the popular assets are available from FxPro.

        Order Types

        Traders can choose from five types of orders: limit orders, market orders, stop loss orders, and take profit orders. Missing are guaranteed stops, but with almost no requotes and very little slippage from the broker this shouldn’t be an issue.

        Notification and Alerts

        All of the FxPro platforms offer alerts and notifications based on price levels. In addition, clients of FxPro can access the Trading Central platform, which has been providing market analysis since 1999. It’s typically a paid service, but is available free of charge to FxPro clients. The system analyzes support and resistance levels, gives short and long-term trading signals and forecasts price movements in thousands of assets.

        Key benefits of Trading Central:

        • Reduction of any trader’s day to day burden of analysing large amounts of data, due to automatic level-building and trend detection;
        • Hundreds of intraday trading ideas for various tools that are difficult to manage manually;
        • Long-term forecasts for pivot levels directly within the MetaTrader4 / MetaTrader5 platforms.
        • Opportunity to spot an idea from several indicators simultaneously.
        • Automatic detection of Japanese candlestick patterns.

        Risk Management Tools

        The primary risk management provided comes from the in-depth analysis provided, and the educational tools offered. There are also a number of trading tools that will help traders with their risk management strategy. These include the FxPro calculators and the direct app that helps manage trading accounts anywhere.

        One final risk management tool offered is the FxPro Wallet. With the wallet traders can transfer funds from their trading account to the wallet, and vice-versa, at any time. It can hold multiple currencies too, making it ideal for multiple trading accounts.

        Trading Tools and Analysis

        FxPro has a number of trading tools available to clients, including calculators that handle currency conversions, required margin, pip value, stop loss/take profit levels, swaps and cTrader commission calculators. There are economic calendars to keep track of relevant breaking news, and a trader’s dashboard that helps monitor all a trader’s favourite assets in one handy place.

        Clients also get access to professional level market analysis through the free Trading Central account provided funded clients. Trading Central uses both automated price analysis and professional market analysts to provide some of the most accurate and up-to-date forecasts available. Trading Central specialises in the technical analysis, so traders have an opportunity to use in-depth graphical analysis and mathematical indicators to confirm the key price levels, as well as special candlestick charts to confirm trend reversal or acceleration.

        Education and Training

        FxPro has an extensive education center that contains everything from basics to advanced tutorials. Traders can learn about fundamental analysis, technical analysis, trading psychology, and even take trading tests to test their knowledge.

        Customer Support

        FxPro provides its clients with excellent customer service that can be reached via online chat, by email call-back request, or directly on the phone. The customer support is available in 21 different languages, which is one of the largest numbers we’ve seen from brokers.

        Recently we have not had much success with customer service teams at brokers, so it was refreshing to get a response immediately from the online chat platform, and within an hour when we emailed the support team.

        In addition to the live support there’s also a help center to answer the most basic and common questions.

        The customer support team operates 24/5 Monday through Friday, and we found them to be highly responsive and knowledgeable.

        Independent Opinion & Rating

        There’s a very good reason why FxPro has won over 90 awards from various industry groups, and that’s because they do an excellent job in offering their client’s a non-dealing desk environment for trading forex and a variety of other asset types. They are best known in the UKand are building a good reputation therewith the addition of the FxPro Edge spread betting platform, which gives UKbased traders a way to generate profits tax free.

        We like the fact that FxPro offers both MetaTrader4 and MetaTrader5, but we also liked the cTrader platform, and feel it is a good choice for those who aren’t already tied to MetaTrader products.

        We also like the Trading Central, which helps to validate trade ideas, and we believe makes traders who use them fully more accurate, and thus more successful.

        We agree that FxPro is a top-rated forex and CFD broker and would recommend them to any trader looking for a pleasant experience and competitive spreads.


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