Like many other brokers in the industry of forex trading, FXPro.com has all the experience it needs in plenty. Since 2006, it is among the leaders in the sector, and continues to set itself apart from its competitors in every way possible by accommodating itself to both new and experienced traders.
Who is behind Fx Pro?
The company headquarters are in Cyprus. Founded by a group of financial experts, Denis Sukhotin regulates the professionals behind the platform. It began to offer brokerage services from 2012.
Along with spot forex, the platform provides its users with a safe place to trade financial markets, as well as futures, CFDs and commodities.
The platform itself has two subsidiaries, the FxPro Financial Services Limited that is under the regulation of the Cyprus Securities and Exchange Commission (CYSEC), and the FxProUK Limited that is under the regulations of the FCA (Financial Conduct Authority) in the UK.
Accounts available on the site
You can get several FxPro account options on the site, which are:
FxPro Super Trader Investment account – this gives traders opportunities to access the FX markets without the need for manual trading
FxPro MT4 floating spread account
FxPro Fixed spread
FxPro trader floating spread – has market execution options
FxPro MT5 floating spread – also has market execution options
Other options include:
PAMM account – this is a good choice for traders that manage multiple accounts on behalf of other traders, since it provides opportunities to manage clients’ money easily within a master account.
Demo account – this is available in MT4, cTrader and MT5 accounts. You can choose the MT4, cTrader and MT5 account platforms, while the leverage is 1:500 and the maximum balance is 500,000.
VIP package – this is best for clients with high net worth, as well as those who trade large volumes. The benefits include free FxPro MasterCard, zero deposit fees, exclusive news reports, a free VPS service, in addition to alerts for margin levels through SMS and email.
The instruments you can trade on the platform include gold, CFDs (Contracts for Difference), Metals, Stocks, Commodities and oil. However, trade in ETFs is not possible on the site.
In terms of trade platforms, the site permits you to decide on the operating environment you want. Most traders go for the MT4 setups (MetaTrader 4), though there is also MT5, cTrader and FxPro Edge. In addition, mobile applications for iOS and Android devices are available. Here is a summary on each platform:
As the industry standard platform, MT4 lends itself to various traders as an easier alternative, thanks to the richness of its features. It places itself among the leading platforms in online trading due to its foreign exchange agency model implementation, unconventional organization of trading, as well as competitive assessments.
You can use algorithmic traders as well as Expert Advisors (EAs), which automate your exchange and make the process easier for you. MT4 allows you to see the marketplace you are dealing with, all within real time, highly accurate and impeccably judge all your exits and entrances.
The MT5 is simply an improvement of the MT4 platform, while still bearing the efficiency that is the hallmark of its forerunner.
A new edition compared to the other trading platforms, but this does not stop its rising popularity. It is very good in the case of trading CFDs, and it sets itself apart as an ECN that allows agents to place orders, even when they do have incomplete access to markets. As a result, it gives tighter control levels within the stock and foreign exchange industry.
This is the leading web based platform for MT4 trading accounts for any computer. It therefore optimizes trading, while improving certain features and the layout, making it more user-friendly and have greater efficiency.
Bank wire transfer – this option allows you to deposit money in your local currency, then the beneficiary bank converts the money into the currency you use when making deposits. Accepted currencies include ZAR, USD, EUR, PLN, AUD, GBP, JPY and CHF. The approximate time to handle the transaction takes between two and seven days, and there is no minimum amounts specification. The fees depends on the bank you use to make the transaction.
Credit and debit cards – is among the most secure ways to make deposits. They accept the EUR, AUD, USD, CHF, GBP, PLN and JPY currencies. The minimum amount you need is $100, and the transaction fee is 1.6% of the money in transaction. Processing of the transaction is significantly short, taking about ten minutes.
PayPal – processing of transactions is usually within an hour. Accepted currency is the same as the previous two, while fees is 2.7% of the amount in transaction.
FasaPay – you do not require a debit or credit card to use this method and it remains safe and convenient. The currency is the USD, the minimum amount is $100, and there are no fees involved. The approximate time for processing the transaction is ten minutes.
WebMoney – is a worldwide e-wallet, which permits you to make direct deposits and withdrawals into your account.
Neteller, Skrill – this accepts EUR, AUD, USD, JPY, GBP and PLN. Minimum amount is $100, there are no fees, and the processing time is approximately ten minutes.
Netbanx China RMB – this option allows you to make instant withdrawals and deposits from your Chinese bank account. The exchange rate uses the daily buy and sell rates that the Bank of China sets. The minimum amount is $100, the accepted currency is the USD and CNY, while there are no fees and processing time takes about ten minutes.
Others – WeCollect (available in Asian countries), Moneta.ru, Boleto (available in Brazil), Sofort, MyPay, and Przelewy24 (available in Poland).
All withdrawal methods take one day for full processing. In addition, all the deposit options above are available for withdrawals, and there are no extra fees involved.
Commissions, leverage and spreads
The platform offers variable spreads of 1:500 in most cases, starting from a fair range of 0.6 pips. For CFD traders, they do not need to wage spreads, but they receive a commission payment at a fixed rate of 45 dollars for every one million in trade.
The listing of spreads is very clear, and the spreads remain competitive. For instance, MT4 traders enjoy trading from 0.8 pips with leverage of 1:500, while ECN traders have leverage rates of 1:100.
A trader can set their leverage starting from 1:1 to 1:500 according to their individual preference.
The site offers you several unique trade tools, such as the FxPro Quant for traders who want to develop their own EA, the FxPro Vault that allows you to store your money in a ‘vault’ for future trade, and the FxPro Dashboard that allows you to see the trading activity of other traders.
There is continuous trader education on the platform, making it a good option for beginners as well.
Assistance is very accessible, and you can call at a time you prefer depending on your time zone. Support is available 24/5 like other brokers, and the Contact Us page on the site has the contact details of the departments.
Very good customer support
Unique trade tools
Wide choice of trading accounts and platforms
The site lacks bonuses and promotions
Confirmation process is multi-step
With all the advantages it offers both new and experienced traders, FxPro is among the best choices you can make in