FxPro is a leading CFD broker providing access to trading in forex, commodities, stocks, indices, futures, and cryptocurrencies. Founded in 2006, the company now has clients in over 170 countries and is regulated by multiple authorities globally, including the top-tier FCA and CySEC. As a No Dealing Desk (NDD) broker, all client orders are executed with no dealing desk intervention.
The London-based broker has won over 100 industry awards, including “Best Forex Provider” by Investors Chronicle and the Financial Times. If you are a racing fan you may already be familiar with the brand: since 2018, FxPro has been the official sponsor of the McLaren Formula 1 team.
FxPro strives to deliver fast order execution. According to the website, most orders are executed in under 13 milliseconds. Another area where FxPro shines is in its range of platforms, including MetaTrader 4, MetaTrader 5, cTrader, and the proprietary Edge platform.
FxPro offers over 2,100 trading instruments, including CFDs on futures and cryptocurrencies – far better than average for the industry. The FxPro Wallet is an innovative tool that makes it easier for clients to make deposits and withdrawals.
FxPro can cater to beginners to trading with its well-designed Edge platform, reliable customer service via chat, and in-depth educational materials. Advanced traders can benefit from various platforms, tight spreads, and third-party tools such as Trading Central. Professional money managers can use FxPro thanks to the availability of multi-account management tools in MetaTrader.
Pros | Cons |
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In our review of FxPro, we focused on the services provided by FxPro UK Limited (fxpro.com) regulated by the UK Financial Conduct Authority. We conducted our tests on the Standard account using the FxPro Edge platform and MetaTrader 4. Some features and services may vary depending on where you reside.
☑️ Regulations | FCA (United Kingdom), CySEC (Cyprus), FSCM (Mauritius), SCB (Bahamas) |
🗺 Supported Languages | Turkish, English, Russian, Hindi, French, Indonesian, Portuguese, Thai, Slovak, Polish, Czech, Arabic, Hungarian, Italian, Spanish, Chinese, Japanese, Greek, Vietnamese, Malaysian, German, Romanian |
💰 Products | Currencies, Stocks, Crypto, Indices, Commodities, Futures |
💵 Min Deposit | $100 |
💹 Max Leverage | 1:30 (FCA), 1:30 (CySEC ), 1:2000 (FSCM), 1:200 (SCB) |
🖥 Trading Desk Type | No dealing desk |
📊 Trading Platforms | MT5, cTrader, Proprietary, MT4 |
💳 Deposit Options | Wire Transfer, Local Deposit, Broker to Broker, Credit Card, Visa, Mastercard |
💳 Withdrawal Options | Wire Transfer, Broker to Broker, Maestro, PayPal, Visa |
🤴 Demo Account | Yes |
🗓 Foundation Year | 2006 |
🌎 Headquarters Country | United Kingdom |
With a substantial operating history of over 17 years, FxPro is a well-established broker. It is governed by multiple regulators globally, including the top-tier UK Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC). Client funds are held in segregated accounts at global banks such as Barclays and Royal Bank of Scotland. My research showed that FxPro has a high level of financial strength and trustworthiness.
In our trust category, we place the most importance on how a broker is regulated. This section will cover how the different entities of FxPro are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.
Different regulators provide different levels of protection. For example, FxPro clients in the United Kingdom benefit from the oversight of the Financial Conduct Authority (FCA). The FCA requires that clients have negative balance protection, which means they cannot lose more than their deposit.
In addition, when trading with a broker authorized by the FCA, client funds are protected by the Financial Services Compensation Scheme (FSCS). The FSCS protects investments of up to £85,000 if a firm becomes insolvent. A trader working with a broker entity regulated offshore would not necessarily have these benefits.
The table below lists the protections and benefits by entity, regulator, and region.
Entity | FxPro UK Limited | FxPro Financial Services Limited | Prime Ash Capital Limited | FxPro Global Markets Limited |
Country/Regions | United Kingdom | EU | Mauritius/Global | Bahamas/Global |
Regulation | FCA | CySEC | FSC | SCB |
Segregated Funds | Yes | Yes | Yes | Yes |
Negative Balance Protection | Yes | Yes | Yes | Yes |
Compensation Scheme | Yes (FSCS Up to £85,000) | Yes (ICF Up to €20,000) | No | No |
Maximum Leverage | 1:30 | 1:30 | 1:2000 | 1:500 |
*Professional clients have access to higher leverage levels.
Regulatory requirements are subject to change. I gathered the data listed above in July 2023.
FxPro provides Negative Balance Protection (NBP) for all clients, regardless of their categorization (retail or professional) and jurisdiction. Client funds are deposited in segregated accounts at global banks such as Barclays and Royal Bank of Scotland.
In our tests for the Trust category we also cover factors relating to stability and transparency. Here, we focus on the brokers’ business longevity, the size of the company, and their transparency in terms of information being readily available.
FxPro has a lengthy operating history of 17 years. The company is headquartered in London, United Kingdom, and has over 200 employees.
FxPro has a listing of entities and regulators on its Licences page. However, the Mauritius entity is not listed there.
The pricing model at FxPro is well explained on the Pricing page. On the About page, FxPro shares the history of the company. The Client Agreement can be found on the Legal Docs page.
To conclude, I observed that FxPro has several positive attributes:
However, I found room for improvement in transparency about its offshore entities.
FxPro offers competitive spreads in a wide range of instruments. Narrower spreads can be accessed via their VIP account. These low costs can be critical for achieving profitability, particularly for active, short-term traders. Swap fees and inactivity fees are average for the industry.
I tested the spreads at FxPro across different asset classes using the MetaTrader 4 and Edge platform at 8:00 a.m. GMT and 4:00 p.m. GMT on 5 July 2023. I measured the spreads at two different times of day to allow for a greater perspective. 8:00 a.m. GMT is the London open when there is high liquidity in the forex market and tighter spreads in currency pairs. 4:00 p.m. GMT is during the New York trading session.
Instrument | Spread AM | Spread PM |
EUR/USD | 1.3 Pips | 1.1 Pips |
GBP/JPY | 1.9 Pips | 1.9 Pips |
Gold | 25 Cents | 29 Cents |
Light Crude Oil | 3 Cents | 3 Cents |
Apple | n/a | 41 Cents |
Tesla | n/a | 58 Cents |
Dow 30 | 2.1 Pips | 2.1 Pips |
Dax 40 | 1.5 Pips | 1.3 Pips |
Swap fees (the cost of holding a position overnight) were average at FxPro.
In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). I recorded the data on 6 July 2023.
Instrument | Swap Long | Swap Short |
EUR/USD | Charge of $7.60 | Credit of $2.10 |
GBP/JPY | Credit of $11.53 | Charge of $30.30 |
FxPro charges an inactivity fee after 6 months. This consists of a one-time fee of $10, followed by a monthly fee of $10 for each month that the account remains inactive.
Overall, when using a standard account, I rated the fees at FxPro as competitive. Tighter spreads are available via the VIP account.
FxPro offers four platforms: FxPro Edge, MetaTrader 4, MetaTrader 5, and cTrader. This provides the best of both worlds. The user-friendly and intuitive Edge platform can cater to beginners and casual traders. Meanwhile, the robust MetaTrader and cTrader platforms cater rather to advanced and algorithmic traders.
FxPro’s proprietary platform called Edge has an attractive interface and provides a smooth and intuitive trading experience. This web-based platform allows you to access the market directly from your browser. FxPro Edge is highly customizable and has popular features such as one-click trading and trading from the chart. One drawback is that English is the only available language for the platform.
Market, limit, and stop loss orders are available via the Edge platform. Time-in-force conditions such as Good ‘Til Cancel (GTC) are available for pending orders. Trailing stop loss orders are not available on the Edge platform, but they are available on MetaTrader and cTrader.
Charting on the Edge platform is robust, with a wide range of chart types, time frames, indicators, and drawing tools.
The platform is highly customizable, with preset layouts and the ability to save your preferred chart setups so they can be pulled up anytime.
The FxPro Direct app is available for iOS and Android and allows users to manage their accounts, deposit/withdraw funds, contact live support, and trade. It has a minimalistic, user-friendly interface – a refreshing contrast from the MetaTrader apps. I noted that the app features industry-leading TradingView charts, providing a wealth of indicators and analysis tools.
Popular features such as one-click trading and trading from the chart are available. The app also has an economic calendar, allowing users to stay on top of key fundamental data. When checking account security, I verified that 2-factor authentication is available. FxPro Direct is available in 19 languages.
Available Languages |
English | Japanese | Korean | Italian | Chinese | Polish | German | Norwegian | Vietnamese | French | Russian | Arabic | Portuguese | Spanish | Czech | Romanian | Indonesian | Malaysian | Turkish |
FxPro offers MetaTrader 4 for desktops, which includes advanced functions such as copy trading and automated trading.
Traders can access the platform in 39 different languages, from Arabic to Vietnamese. Here are some of its essential features:
MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:
Charting features are robust. MetaTrader 4 offers:
MetaTrader is also popular due to its copy trading and automated trading features.
The MetaTrader 4 desktop platform is one of the most feature-rich and popular trading platforms. It may present a steep learning curve, which is typical of advanced platforms.
The MetaTrader Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform. It allows you to trade without additional software; only an internet connection is required. The Web Platform lets users trade directly from any browser and operating system.
Popular features include:
Copy trading and automated trading are also only available on the MT4 desktop platform.
FxPro offers the MetaTrader 4 mobile app for mobile trading, which is available for Android and iOS. The app offers popular features such as alerts, 1-click trading, and trading from the chart.
The MetaTrader 4 mobile app provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT4 app, you must change the language for your entire phone. As with the desktop and web platforms, the interface could be more intuitive, but the MT4 app offers an above-average range of features.
cTrader is a platform with an intuitive interface catering to beginners and advanced/algorithmic traders. It is designed to replicate an institutional trading environment, with features such as Level 2 DoM (Depth of Market). Depth of market shows incoming liquidity from liquidity providers.
One-click trading and trading from the chart are available via cTrader. Another popular feature is alerts: the platform can notify you when the market reaches a set price.
One of my favorite indicators, market sentiment, is available via the platform. Sentiment data is displayed below the QuickTrade buttons. Market sentiment indicates the percentage of client accounts that are long (buyers) or short (sellers). The information is collected from all available cTrader servers across multiple brokers.
Various order types are available, including market, limit, stop loss, stop limit, and trailing stop. Time-in-force conditions such as Good ‘Til Cancel (GTC) are available for pending orders.
Charting via the desktop platform is robust, with 26 available time frames, 4 chart types, 76 indicators, and more than 10 drawing tools. A news feed and integrated economic calendar are built into the platform.
cTrader can be used for automated trading and strategy backtesting. cBots are automated trading robots that can automate your trading strategies in cTrader.
To use a cBot, you can drag and drop it on the symbol you want to trade and set your preferred parameters (initial volume, stop loss, and take profit). Any cBot built in cAlgo will automatically be available in cTrader, and custom robots can also be downloaded from the cTrader website. cAlgo is a programming language that enables you to build cBots and custom technical indicators using C#.
Another great feature is cTrader Analyze, which enables traders to track and analyze their trading activity with detailed information on account profitability and performance statistics.
For example, you might be interested to learn your percentage of winning trades, and which percentage of these were long or short trades.
To conclude, cTrader has many of the advanced features of MetaTrader within what I judged to be a better-designed and more user-friendly interface.
All client trades at FxPro are executed with no dealing desk intervention. Due to the high volumes of client trades, FxPro can match much of its order flow internally. Not all client positions are hedged, and a residual exposure up to a set market risk limit remains in-house. Excess risk exposure may be hedged externally.
FxPro excels in its range of available CFD instruments. As well as offering a large number of assets within forex, metals, energies, indices, shares, and cryptocurrencies, it provides less commonly found CFDs, including futures on commodities and indices.
CFDs (Contracts for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. I rated the range of tradable instruments at FxPro much better than average. Here are the major categories of tradable assets available:
*Cryptocurrency CFDs are not available for retail clients in the UK. In 2021, the FCA banned trading cryptocurrencies through spread bets and CFDs.
In the tables below, you can see a selection highlighting the variety of instruments available at FxPro:
Forex Major | Forex Minor |
EUR/USD | USD/JPY | USD/CHF | AUD/USD | GBP/JPY | NZD/JPY | EUR/GBP | EUR/AUD |
Forex Exotic | CFDs on Indices |
USD/THB | USD/PLN | USD/MXN | USD/RUB | UK100 | Spain35 | AUS200 | HongKong50 |
CFDs on Energies | CFDs on Metals |
Natural Gas | WTI Crude Oil | Brent Crude Oil | Silver | Palladium | Platinum | Gold |
Shares | Cryptocurrencies |
Apple | HSBC | Lufthansa | Hermès | Polkadot | TRON | Cardano | XRP |
I experienced solid customer support at FxPro which is available 24/5. My email inquiries were answered the same day, and the live chat support was quick and reliable. I was also able to reach an operator by phone quickly. The agents were helpful and knowledgeable.
Support responses were fast via chat and email at FxPro, with chat operators available almost instantly and email inquiries responded to within hours. I noted an improvement in phone support from my review last year, and I could reach an operator without delay.
I tested support with dozens of questions, covering subjects such as order execution methods, platform features, and withdrawal of funds.
Agents were well-informed and courteous. I appreciated the absence of a chatbot and that a human agent was available immediately. Overall I rated the customer support experience at FxPro as better than average.
Available Customer Support Languages |
Arabic | Chinese | English | French | Greek | Hungarian | Indian | Indonesian | Japanese | Malaysian | Russian | Spanish | Thai | Turkish | Vietnamese |
Clients of the UK entity of FxPro can make deposits via bank wire and credit/debit card. Other brokers’ entities offer a more comprehensive range of options, including digital wallets. Deposits and withdrawals via bank wire and credit/debit card are free and processed within 1 business day.
In the tables below I break down the fees and processing times for each deposit and withdrawal method.
Deposit Method | Fees | Processing Time |
Bank Transfer | 0% | 1 Working Day |
Broker to Broker | 0% | 1 Working Day |
Visa | 0% | Usually within 10 minutes |
Maestro | 0% | Usually within 10 minutes |
Mastercard | 0% | Usually within 10 minutes |
Deposit Method | Fees | Processing Time |
Withdrawal Method | Fees | Processing Time |
Bank Transfer | 0% | 1 Working Day |
Broker to Broker | 0% | 1 Working Day |
Visa | 0% | 1 Working Day |
Maestro | 0% | 1 Working Day |
For withdrawals via bank wire, clients need to allow up to 2–5 working days for the funds to reach their account from the time the withdrawal has been approved. For credit/debit card withdrawals, it takes 3-7 working days to receive the funds back to your card.
The FxPro Wallet was developed to make funding and withdrawal from client accounts easier. Moving funds between FxPro wallet and a trading account is instant and free of charge. The wallet keeps funds safe from unexpected market movements while at the same time easily transferable to a trading account.
The account opening process at FxPro is fully digital and can be completed via the company website within about 20 minutes. Account types are determined by your choice of platform and whether you prefer fixed or variable spreads. FxPro also offers demo, professional, VIP, and Islamic accounts.
To open an individual account at the FxPro UK Limited entity, prospective clients must provide the following information:
After providing the above information, prospective clients must upload a copy of a valid international passport, national ID card, or driver’s license in order to verify their identity.
FxPro offers free demo accounts for FxPro Edge, MetaTrader 4, MetaTrader 5, and cTrader. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.
The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch over to a live version.
If you have decent trading experience, you can apply to be treated as a professional client. Clients categorized as professionals have access to greater leverage (up to 1:500) and are allowed to trade cryptocurrency CFDs even if they are in the UK. FxPro continues to provide negative balance protection, but clients categorized as professionals may not be entitled to regulatory investor compensation.
In order to be eligible to be categorized as a professional, individuals must meet two of the three criteria below.
The FxPro VIP account offers benefits for high-volume traders with a substantial account balance. A prerequisite of the VIP account is a deposit of $50,000+ (or currency equivalent). VIP account holders receive up to a 30% discount on market spreads, access to a free Virtual Private Server (VPS), and up to 30% lower commissions on cTrader accounts.
FxPro offers a swap-free Islamic account that adheres to the principles of Sharia law.
One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.
The maximum leverage for a standard account with the FxPro UK Limited entity is 1:30. This means that with an account of $1,000, you can control up to $30,000 worth of positions in the market. If you are categorized as a professional, you can access leverage of up to 1:500. This means that with $1,000, you can control up to $500,000 worth of positions.
Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.
FxPro takes clients from the majority of countries globally. However, clients from the USA, Iran, and Canada are not accepted.
FxPro shines in the Research category with high-quality in-house analysis and a range of proprietary and third-party tools. Materials can cater to both novice and advanced traders, and fresh content is added multiple times daily.
FxPro has a separate domain for its news and market analysis offering: fxpro.news. Stories are broken down into 3 categories: Market Overview, Crypto, and Technical Analysis.
The Market Overview report covers fundamental themes such as major economic releases and major geopolitical news stories. The section is updated are made several times daily and helps traders understand the forces behind movements in the market.
Crypto updates primarily focus on Bitcoin and cover significant stories in the space. Updates are less frequent, at most once per day.
Technical analysis updates span forex, commodities, and equities, focusing on Elliott Wave analysis. Major support and resistance levels are included in the reports, published several times daily.
A live squawk and newsfeed are also available within the client portal. The FxPro Squawk alerts traders to stories with potential market impact and breaking news. The scrolling news feed covers significant news stories, rumors, reports, and articles.
Standard tools such as an economic calendar and FX calculator are available from the website and within the client portal.
FxPro also offers award-winning content from third-party provider Trading Central, which combines automated investment analytics and analyst research.
Key features of Trading Central include:
FxPro has a robust education section with a variety of materials for both beginners and advanced traders. Interactive courses cover fundamental analysis, technical analysis, and trading psychology. There are also educational videos, platform tutorials, and recorded webinars on the FxPro YouTube channel.
The courses are presented in a user-friendly format, with concise and easily comprehensible cards guiding you through each section. They cover important subjects like technical analysis, risk management, and creating a trading plan.
The course content is provided in both video and text formats, accompanied by module-ending tests to facilitate effective learning. The courses offer valuable insights suitable for both beginners and experienced traders.
The FxPro YouTube channel offers a wealth of comprehensive and advanced content, including platform tutorials and recorded webinars in various languages. One particular recording that caught my attention is a recorded seminar by industry expert Phillip Konchar, titled “Plan Your Trade and Trade Your Plan,” which provides over an hour of insightful guidance.
FxPro is a strong broker with a well-rounded offering. Traders have the flexibility of operating via the intuitive FxPro Edge or the more advanced cTrader and MetaTrader platforms. I was especially impressed with the range of tradable instruments – every asset class has above-average depth. Research materials are another highlight, with an excellent range of analysis and tools available to clients.
Whether you are a beginner to the markets or an advanced trader, FxPro could be a good fit for you, thanks to its strong performance across all categories of our review. I found it hard to find fault with this broker, although the offering could be improved by adding private insurance for clients of the offshore entity.
Headquarters Country | United Kingdom |
Foundation Year | 2006 |
Regulations | FCA (United Kingdom), CySEC (Cyprus), FSCM (Mauritius), SCB (Bahamas) |
Publicly Traded | No |
Number Of Employees | 200 |
Trading Desk Type | No dealing desk |
Trading Platforms | MT5, cTrader, Proprietary, MT4 |
Restricted Countries | Canada, Iran, United States |
Supported Languages | Turkish, English, Russian, Hindi, French, Indonesian, Portuguese, Thai, Slovak, Polish, Czech, Arabic, Hungarian, Italian, Spanish, Chinese, Japanese, Greek, Vietnamese, Malaysian, German, Romanian |
Min Deposit | $100 |
Max Leverage | 1:30 (FCA), 1:30 (CySEC ), 1:2000 (FSCM), 1:200 (SCB) |
Deposit Options | Wire Transfer, Local Deposit, Broker to Broker, Credit Card, Visa, Mastercard |
Withdrawal Options | Wire Transfer, Broker to Broker, Maestro, PayPal, Visa |
Time to Withdrawal | 1 |
Time to Open an Account | 8 |
Crypto | Bitcoin Cash, Bitcoin Gold, Ethereum Classic, Polymath, Bitcoin, Cardano, Dogecoin, NEO, Litecoin, Ripple, Monero, Stellar, Dash, VeChain, TRON, Uniswap, EOS, Ethereum, Basic Attention Token, Polkadot, Chainlink, Tezos, IOTA |
Products | Currencies, Stocks, Crypto, Indices, Commodities, Futures |
Demo Account | Yes |
OCO Orders | No |
Offers Hedging | Yes |
Automated Trading | Yes |
API Trading | Yes |
Guaranteed Stop Loss | No |
Guaranteed Limit Orders | No |
Guaranteed Fills / Liquidity | Yes |
Economic calendar | Yes |
Trading From Chart | Yes |
One-Click Trading | Yes |
Expert Advisor | Yes |
Social Trading | Yes |
Autochartist | No |
Trading Signals | Yes |
Platform Languages | Turkish, Korean, English, Russian, French, Portuguese, Thai, Slovak, Polish, Czech, Arabic, Hungarian, Italian, Spanish, Chinese, Japanese, Greek, Vietnamese, Malaysian, German |
24 Hours Support | Yes |
Support During Weekends | No |
Live Chat | Yes |
Daily Market Commentary | Yes |
News (Top-Tier Sources) | Yes |
Webinars | Yes |
Deposit Fee | No |
Withdrawal Fee | No |
Inactivity Fee | Yes |
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.