FxPro has one of the most reliable brokers, publicly listed on the London Stock Exchange (LSE). FxPro was established in the UK (United Kingdom) in 1999.
Furthermore, FxPro is a well-known global service provider that offers trading services in more than fifty countries worldwide. The traders on the site avail numerous financial instruments with fewer charges.
FxPro – Background Information
This reputed FX broker firm aims to attract clients by delivering the best trading services rather than using sinful ways, including bonuses and promotions.
Want to know more? Keep reading our comprehensive FxPro review below!
Licensing and Regulation
FxPro broker is a few of the best-regulated brokers in the world. Various financial authorities, including top-tier bodies, regulate the company.
FxPro is regulated under the UK’s Financial Conduct Authority (FCA), Cyprus Securities & Exchange Commission (CySEC), and Dubai Financial Service Authority and Securities Commission of Bahamas (SCB).
In addition, all the FxPro clients are protected by the Investor’s Compensation Fund (CIF), Financial Instrument Directive (FID), and other financial bodies.
Top-rated authorities’ regulations and directives help attract more clients to the platform. Also, these bodies help in ensuring the traders that their funds are safe without any risks.
Accounts Types
At FxPro, the clients get two types of accounts: Standard and Professional.
All the traders get access to the standard/straightforward account, whereas special requirements must be fulfilled for trading in the professional one. Different services are available in both accounts that work as needed by the industry.
Leverage Ratios
One main difference between both accounts is leverage. The maximum leverage for a standard account is 1:30, while the maximum limit for the professional one is 1:300.
Research and Education
This FX broker does not have much to offer new traders. They have material for the advanced traders, which some say is not essential, but not all traders are the same. The site has an education section titled ‘Trader’s Guide,’ but only includes some vital videos.
Also, the traders can manage trading risks by visiting their Risk Management section, which includes in-depth information regarding minimizing risks. Nevertheless, they should improve their education portal even more.
Trader Support
Although among the best brokers, FxPro does not offer its clients phone support. However, the customers can contact the team through 24/5 live chat and email services.
Surprisingly, you can clear your queries in more than thirty-two languages due to their multi-lingual client support services. Additionally, the site has a detailed FAQ section for its clients to clarify common issues.
Please kindly note that the support service of FxPro has high ratings from audit companies.
Spreads and Commissions of FxPro
One factor that makes this Forex broker a top-class broker is its lowest spread charges and almost no fees on trade execution. Their primary source of income is spread along with a few other expenses. The side charges include an inactivity fee of $10 monthly after three months of no trading. Another additional charge is leveraged positions nightlong swap rates.
The firm only provides a spread of 0.6 on currency pairs for more than 2,500 financial instruments. Although a currency conversion fee of 0.3% is charged to the clients, the other benefits, like splits, dividends, mergers, etc., are enough to bear.
FxPro Bonus Offer
Due to legal restrictions, FxPro can not offer any bonus offers. Instead, they offer competitive spreads, trade fees, and commissions.
Trading Platforms
FxPro broker’s trading platform is at face value with the best industry traders. Also, the platform is compatible with Desktops, Web, and Smartphones. Beginners have no issue accessing the platform because of its smooth and straightforward user interface. However, the user interface is not customizable.
One of the major cons of the site is that it does not offer its clients the most popular MetaTrader trading platform.
As a result, traders must use essential trading tools without any signals, interactive charts, and indicators.
Range of Financial Instruments
Although the range of assets is beyond 2,000, it only offers currency pairs and CFDs. The site offers more than 50 forex pairs for trading. A plus point for small clients is that if they buy one or 1,000 lots, the spread charge will remain the same—the CFDs on the platform support indices, stocks, equities, and commodities.
FxPro was the first broker to list Bitcoin for trading in 2013. Generally, the broker focuses more on its target customers and is made only for them.
To Trade or Not to Trade with FxPro
FxPro is known as one of the best and most trusted brokers worldwide. There is no doubt about the regulation of the firm and its trading security. Also, the brokerage bragged so many awards, impressive sponsorships, and titles for being a top-class broker, for example:
- Most Reliable Broker of the Year 2019 award from “International Investor.”
- Best Broker
- Best Trading Experience and more
Yet, the firm can further improve its client support and tutorial sections.
This broker is among the most suitable brokers for traders of each knowledge level because of its simple design and transparent policies. However, the final decision is the trader’s.
FAQ:
What type of broker is FxPro?
Established in 2006, FxPro is a global forex and CFDs broker that provides services to clients from over 150 countries. Also, the firm brings 200 different kinds of assets in various asset classes. So, FxPro is a CFD and forex broker that was founded in 2006.
How can I deposit money in FxPro?
You don’t need to do anything to deposit funds in your FxPro Wallet. The don’tits you make are automatically credited to your FxPro Wallet instantly. Also, you can transfer funds between your FxPro Wallet and your trading account anytime from anywhere. Sign in to your FxPro Direct, click Deposit funds/ Wallet, and select your preferred payment option.
How long does it take to withdraw your money from FxPro?
The withdrawals from the banks are usually processed within one working day by FXPro. Naturally, your funds will take approximately 3-5 business days to be credited to your bank account. Also, remember that processing funds back from the bank to your card might take around ten working days.
