broker

FxPro Review 2022

Updated:
4.5
Trust
4.4
Fees
4.4
Platforms and Tools
4.8
Customer Support
4.3
Tradable Instruments
4.5
Account Types and Terms
3.7
Deposit and Withdrawal
5.0
Research
5.0
Education
4.8

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please Note: 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 using the FxPro Edge platform. Some of the features and services will vary depending on which jurisdiction you open an account in.

The Big Picture

Founded in 2006, FxPro is a broker providing access to trading in forex and CFDs on commodities, stocks, indices, futures and cryptocurrencies. As a No Dealing Desk (NDD) broker, client orders are executed with no dealing desk intervention. FxPro has retail and institutional clients in over 170 countries and is regulated by multiple authorities globally, including the top tier FCA and CySEC.

If you are a football or Formula 1 fan you may already be familiar with the brand, as FxPro is a sponsor of the McLaren F1 team and football clubs Watford FC and Fulham FC. FxPro has won over 90 industry awards, including “Best Forex Provider” by Investors Chronicle and the Financial Times.

Key Takeaways in 2022

  • We evaluated FxPro across nine categories (Trust/Stability, Fees, Tradable Instruments, Account Types, Deposit/Withdrawal, Research, Customer Support, Education, Platform/Tools).
  • FxPro excelled in the category of Platform/Tools, as only a handful of brokers offer such a broad range of platforms. In research FxPro got a perfect score due to their high quality in house and third party analysis.
  • Beginners can benefit from strong educational resources, a demo account and reliable customer service via chat.
  • Experienced traders can take advantage of advanced trading platforms, competitive spreads, algorithmic trading and multi-account management.

What Sets FxPro Apart from Other Brokers?

FxPro has placed an emphasis on delivering fast order execution. According to the website, most orders executed in under 14 milliseconds. Another area where FxPro shines is in the range of platforms offered, which include their proprietary Edge platform, MetaTrader 4, MetaTrader 5 and cTrader. FxPro offers over 2,100 trading instruments, including CFDs on futures and cryptocurrencies, better than average for the industry. The FxPro Wallet is an innovative tool that makes it easier for clients to make deposits and withdrawals.

Who is FxPro for?

FxPro can cater to beginners to trading with their intuitive Edge platform, reliable customer service via chat and in depth educational materials. Advanced traders can benefit from the variety of 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.

FxPro Pros and Cons

Pros Cons
  • Broad range of tradable instruments.
  • Competitive spreads.
  • Fast order execution.
  • Multiple platforms available.
  • Multiple account types available.
  • Third party tools available.
  • Fast deposits and withdrawals.
  • Fixed and variable spread accounts.
  • Limited protection at offshore entity.
  • High recommended minimum deposit.
  • FxPro Edge Platform is only available in the English language.
  • Inactivity fee.

 

broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

 

About the Author

Dan Blystone
Dan Blystone began his career in the trading industry in 1998. He worked as an arb clerk on the floor of the Chicago Mercantile Exchange (CME), flashing orders into the currency futures pits.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
FxPro Main Features
☑️
Regulations
FCA (United Kingdom), CySEC (Cyprus), SCB (Bahamas)
🗺
Supported Languages
English, Spanish, German, French, Arabic, Russian, Portuguese, Japanese, Vietnamese, Malaysian, Turkish, Romanian, Thai, Slovak, Polish, Czech, Hungarian, Italian, Greek
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures, Crypto
💵
Min Deposit
$100
💹
Max Leverage
1:30 (FCA), 1:30 (CySEC), 1:200 (SCB)
🖥
Trading Desk Type
No dealing desk
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Check if...
unknownFxPro accepts clients from your country:
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FxPro Full Review

FXPro Video Review

Trust

4.4
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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FxPro is overseen by multiple regulators globally, including the UK Financial Conduct Authority and the Cyprus Securities & Exchange Commission (CySEC). We rated FxPro as having a high level of overall transparency.

FxPro on the UK Financial Conduct Authority (FCA) register

In our trust category, we place most importance on how a broker is regulated. In this section we’ll cover how the different entities of FxPro across the globe 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.

Why is it important to know where your broker subsidiary (entity) is regulated?

Different regulators provide different levels of protection. Regulators do not always guarantee negative balance protection, segregated funds and a compensation scheme. Available leverage also varies according to the regulator.

In the table below we break down the client protections, regulator and available leverage for each entity of FxPro.

Entity FxPro UK Limited FxPro Financial Services Limited FxPro Financial Services Limited
FxPro Global Markets Limited
Country/Regions
United Kingdom EU South Africa
Bahamas/Global
Regulation FCA CySEC FSCA 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) Yes (ICF Up to €20,000) No
Standard Leverage
1:30 1:30 1:30 1:200

Regulatory requirements are subject to change. The data listed above was gathered in March 2022.

FxPro provides Negative Balance Protection (NBP) for all clients, regardless of their categorisation (retail or professional) and jurisdiction. Client funds are deposited in segregated accounts at global banks such as Barclays and Royal Bank of Scotland.

Stability and Transparency

In our tests for the Trust category we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company and how transparent they are in terms of information being readily available.

FxPro has a lengthy operating history of 16 years. The company is headquartered in London, United Kingdom and has over 200 employees.

In our research, FxPro showed a good level of transparency in their regulatory status, with a detailed listing of all their entities and regulators on their Licences page.

The pricing model at FxPro is 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.

We rated FxPro as having a high level of transparency, better than average for the industry.

Fees

4.4
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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FxPro offers spreads ranging from average to competitive. Narrower spreads can be accessed via their VIP account. Swap fees and other account related fees were average for the industry.

Trading Fees

We tested the spreads at FxPro across different asset classes using the FxPro Edge platform. The test was done at 8AM GMT and at 4PM GMT on March 30th 2022. We made our tests at two different times to allow greater perspective. 8AM GMT is the London open, when there is a great deal of liquidity in the forex market and therefore tighter spreads in currency pairs. 4PM GMT is during the New York trading session.

Instrument Spread AM Spread PM
EUR/USD 1.1 1.1
GBP/JPY 2.2 2.4
Gold 3.9 3.8
Light Crude Oil 0.10 0.12
Apple n/a 0.45
Tesla n/a 2.10
Dow 30 2.7 2
Dax 40 2.5 1.6

Swap Fees

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 holding 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). The data was recorded on March 29th 2022.

Instrument Swap Long Swap Short
EUR/USD Charge $4.82 Credit of $0.61
GBP/JPY Credit of $1.31 Charge of $6.71

Non-Trading Fees

FxPro charges an inactivity fee after 6 months. This consists of a one time fee of $15, followed by a monthly fee of $5 for each month that the account remains inactive.

Are Fees at FxPro Competitive?

We rated the fees at FxPro as fairly good but not the most competitive in the forex and CFD industry.

Platforms and Tools

4.8
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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FxPro excels in this category with 4 available 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. The robust MetaTrader and cTrader platforms which can cater to advanced and algorithmic traders.

FxPro Edge

FxPro Edge Platform

FxPro’s proprietary platform is called Edge. It has an attractive interface and provides a smooth and intuitive trading experience. This platform is web based and allows you to access the market directly from your browser. FxPro Edge is highly customisable 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.

Order Types

FxPro Edge Order Entry Window

Market orders, limit orders and stop loss orders are available via the Edge platform. Time in force conditions such as Good ‘Til Canceled (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.

Charts

FxPro Edge Charting

Charting on the Edge platform is robust with a wide range of chart types, time frames, indicators and drawing tools.

  • Chart types: Bar Chart, Japanese Candlesticks, Heikin Ashi, HLC Chart, Line Chart and Dots Chart.
  • Time frames: 15 different time frames available, ranging from 1 minute to 1 month.
  • Technical indicators: 53 technical indicators including momentum, reversal, volatility and volume indicators.
  • Drawing tools: 13 drawing tools, including Fibonacci, Pitchfork and ABCD pattern.
Chart Grid Layout

The platform is highly customizable, with preset layouts and the ability to save your preferred layouts so they can be pulled up at any time.

FxPro Edge Alerts

Alerts can be set up to notify you via email of price levels reached and orders that have been executed.

Overall, we rated Edge as a great platform that is suitable for beginners and can cater to the needs of most traders.

FxPro Direct Mobile

FxPro Direct Mobile App

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. The app has a minimalistic, user-friendly interface.

Popular features such as one click trading and trading from the chart are available. The app has an economic calendar, allowing users to stay on top of key fundamental data. Charting capabilities are limited as there are no technical indicators or drawing tools. 2-factor authentication is available to keep your account secure. The app 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.

Overall we rated this as a good albeit basic app, which is well suited to beginners and casual traders.

MetaTrader 4 Desktop

FxPro MT4 Desktop

FxPro offers MetaTrader 4 and MetaTrader 5 for desktop, which includes advanced functions such as copy trading and automated trading. In this section we’ll cover the features of the popular MetaTrader 4 platform.

MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as:

  • Alerts. This feature allows traders to be updated when an instrument reaches a specific price level. Alerts can be delivered via audio, an email, or a push notification to a mobile device.
  • Watchlists. Traders can set up a list of their favourite instruments and follow live quotes in a panel called Market Watch.
  • One-click trading. This feature allows traders to execute orders with a single click and no secondary confirmation. Being able to place a trade with a single click saves time and is especially useful for short term traders.
  • Trading from the chart. MT4 also allows users the convenience of trading directly from the chart.

MetaTrader also delivers when it comes to the range of available order types and its charting functionality. The following order types are available:

  • Market Order. This is an order to buy or sell an instrument at the current best available price.
  • Limit Order. This is an order to buy or sell an instrument at a specified price or better.
  • Stop Loss Order. This is an order to buy or sell an instrument that is triggered when price reaches a specified level.
  • Trailing Stop Order. This is a stop loss order that can be set at a defined percentage or dollar amount away from an instrument’s current market price. It is used to secure profits when you are in a winning trade, while not having to exit the position.

Charting features are robust. MetaTrader 4 offers:

  • 30 technical indicators. These include classic trend indicators, volume indicators and oscillators.
  • 23 analytical objects. These include lines, channels, Gann and Fibonacci tools.
  • 9 time frames Each instrument can be displayed in nine time frames, from one minute to one month.
  • 3 chart types. Traders can choose between Bar Charts, Japanese Candlestick Charts and Line Charts.

MetaTrader is also popular due to its copy trading and automated trading features.

  • Trading Signals. Signals in MetaTrader 4 allow users to automatically copy the activity of other traders in real time.
  • Automated trading. MetaTrader 4 allows users to develop, test and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms. They find opportunities according to set parameters and then either create a notification or automatically open a trade.

The MetaTrader 4 desktop platform is one of the most feature rich and popular trading platforms in the world. It does not have the most beautiful interface and it does require some time and effort to learn, but that is typical of advanced platforms.

MetaTrader 4 Web

FxPro MT4 Web

The MetaTrader Web Platform (Web Trader) is a slightly stripped down version of the desktop platform. It allows you to trade without any additional software, only an internet connection is required. The Web Platform allows users to trade directly from any browser and operating system.

Popular features include:

  • One-click trading.
  • Trading from the chart.
  • Watchlists with real time quotes.
  • Trade History.
  • Advanced charting with 30 indicators for technical analysis.

Copy trading and automated trading are also only available on the MT4 desktop platform.

MetaTrader 4 Mobile App

FxPro MetaTrader 4 Mobile App

For mobile trading, FxPro offers the MetaTrader 4 and MetaTrader 5 mobile app, 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 also provides a broad range of order types including pending and stop-orders. However, trailing stop loss orders are only available from desktop. Charting via the MT4 app has 9 timeframes, 30 technical indicators, 24 drawing tools and 3 chart types.

In order to change the language of the MT4 app, you must change the language for your entire phone. As with desktop and web, the interface is not the most intuitive but the MT4 app offers an above average range of features.

cTrader

cTrader Desktop Platform

cTrader is a platform that has an intuitive interface and can cater to both 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 alert you when the market reaches a set price. Market sentiment data is available and 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.

A wide variety of order types are available including market, limit, stop loss, stop limit and trailing stop. Time in force conditions such as Good ‘Til Canceled (GTC) are available for pending orders.

Charting via the desktop platform is robust with 26 available time frames, 4 available 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, which can automate your trading strategies in cTrader. To use a cBot you can simply 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 build cBots and custom technical indicators using C#.

To conclude, cTrader has many of the advanced features of MetaTrader within what we judged to be a better designed and more user-friendly interface.

Order Execution

All client trades at FxPro are executed with no dealing desk intervention. Due to the high volumes of client trades, FxPro is able to internally match much of their order flow. 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.

Tradable Instruments

4.5
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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FxPro offers access to over 2,100 tradable instruments, spanning forex and CFDs on commodities, indices, shares, futures and cryptocurrencies. The range of tradable instruments is above average for the industry.

Forex Trading at FxPro

CFDs (Contract for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at FxPro include the following assets:

  • 70+ Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example EUR/USD, which reflects the value of the euro measured in dollars.
  • 18 Index CFDs. An index is a basket of trading instruments that is used to gauge a market sector, stocks within an exchange or the economy of a country.
  • 30 Cryptocurrency CFDs. Cryptocurrencies, such as Bitcoin, are digital currencies that are secured by cryptography.*
  • 1000+ Stock CFDs. A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs you are speculating on the price of a stock without actually taking ownership of the underlying company.
  • 7 Commodity CFDs. Commodities are raw products, such as gold, oil and metals.

* 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
CFDs on Shares
CFDs on Cryptocurrencies
Apple | HSBC | Lufthansa | Hermès Polkadot | TRON | Cardano | XRP

Overall, we rated FxPro as being strongest in the areas of forex, indices and share CFDs. We found room for improvement in the variety of commodity CFDs available.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Customer Support

4.3
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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FxPro offers 24/7 support via phone, chat and email. Via chat and email we received rapid and helpful responses, but during the time of our test phone support was unavailable.

Customer Support at FxPro

Support responses were fast via chat and email at FxPro, with chat operators being available almost instantly and email inquiries responded to the same day. Phone support was unavailable, due to ‘system problems’ during the time of our tests.

We tested support with a variety of questions, covering subjects such as whether the Edge platform has trailing stop loss orders, whether it is possible to set up alerts via the FxPro Direct mobile app and whether FxPro charges an inactivity fee.

Support agents were knowledgeable and courteous. It was nice to not have to navigate through a chatbot before reaching a human agent. Disregarding the problem with phone support, we rated the customer support experience at FxPro as good.

Deposits & Withdrawals

5.0
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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Clients of the UK entity of FxPro can make deposits via bank wire and credit/debit card. Other entities of FxPro offer a wider range of options, including digital wallets. Deposits and withdrawals via bank wire and credit/debit card are free and they are processed within 1 business day.

Funding and withdrawal methods at FxPro

In the tables below we break down the fees and processing times for each deposit and withdrawal method.

Deposits

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

Withdrawals

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
Mastercard 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.

Additional funding and withdrawal methods are available for the FxPro Financial Services Limited and FxPro Global Markets Limited entities.

  • FxPro Financial Services Limited allows deposit/withdrawal via bank transfer, broker to broker, Visa, Maestro, Mastercard, PayPal, Skrill, Neteller and UnionPay.
  • FxPro Global Markets Limited allows deposit/withdrawal via bank transfer, broker to broker, Visa, Maestro, Mastercard, Skrill, Neteller and UnionPay.

FxPro Wallet

The FxPro Wallet was developed to make funding and withdrawal from client accounts easier. Moving funds between an 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.

Account Types and Terms

3.7
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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The account opening process at FxPro is fully digital and can be completed via the company website within about 20 minutes. Account types are broken down by your choice of platform and whether you prefer fixed or variable spreads.

FxPro Account Application

Account Application

To open an individual account at the FxPro UK Limited entity, prospective clients must provide the following information:

  • Name.
  • Address.
  • Date of Birth.
  • Employment Status.
  • Level of education.
  • Annual Income.
  • Estimated net worth.
  • Source of wealth.
  • The amount your account will be funded with.
  • Your reason for opening an account with FxPro.
  • Whether you are a US citizen or a US resident for tax purposes.
  • How much trading experience you have.
  • The amount of experience you have with trading FX, CFDs, Spread Bets or other leveraged financial products.
  • How many times you have traded forex and CFDs in the past 12 months.
  • Answer questions on margin, order types, leverage and risk tolerance
  • Choose your account type: FxPro Edge Spread Betting, FxPro Edge CFD, MT4 Instant (variable spreads), MT4 Fixed Spreads, MT4, MT5 and cTrader.
  • Choose your level of leverage (1:1, 1:2, 1:3, 1:5, 1:10, 1:15, 1:20, 1:25, 1:30)
  • Choose your base currency (AUD, CHF, EUR, GBP, JPY, PLN, USD).

After providing the above information, prospective clients must upload a copy of a valid international passport, national ID card or driver’s licence in order to verify their identity.

FxPro also offers demo, professional, VIP and Islamic accounts.

Demo Accounts

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 any 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 have got up to speed on a demo account, they can easily switch over to a live account.

Professional Accounts

If you are an experienced trader, you can apply to be treated as a professional client. Clients that are categorised as professional have access to greater leverage (up to 1:500) and can trade cryptocurrency CFDs even if they are in the UK.

FxPro continues to provide negative balance protection but clients categorised as professionals may not be entitled to regulatory investor compensation.

In order to be eligible to be categorised as a professional, individuals must meet two of the three criteria below.

  • You have carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous 4 quarters (with FxPro or other brokers).
  • The size of your financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000.
  • You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.

VIP Trading Account

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 30% discount on market spreads, access to a free Virtual Private Server (VPS) and up to 30% lower commissions on cTrader accounts.

Islamic Accounts

FxPro offers a swap free Islamic account that adheres to the principles of Sharia law.

Leverage

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 categorised 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.

Supported Countries

FxPro takes clients from the majority of countries globally. However, clients are not accepted from the USA, Iran and Canada.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Research

5.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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FxPro shines in the category of research 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 available multiple times daily.

In house news coverage and market analysis

FxPro has a separate domain for their news and market analysis offering, which is 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. Market Overview updates are made several times per day and help traders understand the forces behind movements in the market.

Crypto updates are largely focused on Bitcoin and cover major stories in the space. Updates are less frequent, at most once per day.

Technical analysis updates span forex, commodities and equities and are focused on Elliott Wave analysis. Major support and resistance levels are included in the reports, which are published several times daily.

FXPro Trader’s Dashboard

Within the client portal, traders also have access to a Trader’s Dashboard which covers the top movers in the market and shows client sentiment data with the percentage of traders who are long and short for various currency pairs. Sentiment data is a powerful tool and most often used as a contrarian indicator. The underlying idea is that if the vast majority of traders are long or short an instrument, it may not be the best time to have the same position and it may even be a good time to take a contrarian position.

FxPro Squawk: Breaking Forex Audio News and Commentary

A live squawk and newsfeed are also available within the client portal. The FxPro Squawk alerts traders to important stories with potential market impact, as well as to breaking news, economic and data releases as they occur. The scrolling news feed covers significant news stories, rumours, 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.

Education

4.8
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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FxPro has a strong education section with a variety of courses for both beginners and advanced traders. There are also a broad variety of educational videos, platform tutorials and recorded webinars on the FxPro YouTube channel.

FxPro Online Courses

FxPro courses for beginners are broken down into four categories: Basics, Fundamental Analysis, Technical Analysis and Psychology. There is only one category for advanced traders, Fundamental Analysis 2.0, so the course offering is slanted more to beginners.

FxPro Educational Courses

Courses are in text format, consisting of easily digestible cards that lead you through the section. The content provides a good educational foundation for traders. There is room for improvement in that there is no quiz or interactive element, which would aid the learning process.

More in depth and advanced content is available on the FxPro YouTube channel. For example this recorded seminar of over an hour by industry expert Phillip Konchar, titled Plan Your Trade and Trade Your Plan. Platform tutorials and recorded webinars in multiple languages are also available.

The Bottom Line

FxPro is an impressive broker with a well rounded offering, particularly strong in the category of trading platforms and research. Key categories such as fees and tradable instruments are competitive but fall shy of the standard set by industry leaders IG and CMC Markets. Third party tools such as Trading Central and innovations such as the FxPro Wallet go beyond what is commonly offered at other brokers.

FxPro is a solid choice for beginners with their intuitive Edge platform and good educational resources. Experienced and algorithmic traders are also a good fit for this broker, with the advanced platforms, tools and range of account types available.

FAQ

Where is FxPro based?
FxPro is headwartered in London, United Kingdom.

Is FxPro safe?
FxPro is overseen by several top tier regulators including the FCA and CySEC and has a lenghty operating history. For these reasons, we judged FxPro to be a relatively safe broker.

How does FxPro make money?
FxPro makes money with the bid/offer spread, commissions, overnight financing (swap) fees and miscellaneous account related fees.

How do I deposit funds in an FxPro account?
Funds can be deposited via bank wire and credit card. Some entities of FxPro allow deposits via digital wallet.

What is the minimum deposit for FxPro?
The reccomend minimum deposit is $1,000.

How do I withdraw money from FxPro?
Withdrawals can be made via bank transfer, and credit/debit card at the UK entity.

How long does it take to withdraw money from an account at FxPro?
Withdrawals are processed within 1 working day.

How much is the maximum leverage at FxPro?
The maximum leverage for a standard account is 1:30.

How can I open an account with FxPro?
An account can be opened via the company website (fxpro.com).

What platforms does FxPro offer?
FxPro offers FX Edge, MetaTrader and cTrader.

What are the withdrawals fees at FxPro?
Withdrawals are free for both bank transfer and credit card.

Is FxPro good for beginners?
FxPro has good educational resources, reliable customer service via chat and an intuitive platform, making it a suitable broker for beginners.

Does FxPro offer a demo account?
Yes, FxPro offers demo accounts via the FX Edge, MetaTrader 4, MetaTrader 5 and cTrader platforms.

broker

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

See FxPro Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
United Kingdom
Foundation Year
2006
Regulations
FCA (United Kingdom), CySEC (Cyprus), SCB (Bahamas)
Publicly Traded
No
Number Of Employees
200+
Trading Desk Type
No dealing desk
Trading platforms
MT4, MT5, Proprietary, cTrader
Restricted Countries
United States, Canada, Iran
Supported Languages
English, Spanish, German, French, Arabic, Russian, Portuguese, Japanese, Vietnamese, Malaysian, Turkish, Romanian, Thai, Slovak, Polish, Czech, Hungarian, Italian, Greek
Min Deposit
$100
Max Leverage
1:30 (FCA), 1:30 (CySEC), 1:200 (SCB)
Deposit Options
Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Union Pay
Withdrawal Options
Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Union Pay
Cryptocurrencies
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 (CFD)
Currencies, Commodities, Indices, Stocks, Futures, Crypto
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
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