FOREXBROKERSREVIEWS.CO.UKFxPro Review
Details
| Broker | FxPro |
|---|---|
| Website URL | http://www.fxpro.co.uk/ |
| Founded | 2006 |
| Headquarters | London, United Kingdom |
| Support Number | +44 (0) 203 151 5550 (International); 08000 463 050 (local, toll free) |
| Support Email | info@fxpro.co.uk |
| Support Types | Phone, Live Chat, E-mail, Call Back |
| Languages | English, Russian, Spanish, French, German, Polish, Italian, Hungarian, Portuguese, Indonesian, Malay, Vietnamese, Arabic, Hindi, Urdu, Chinese, Japanese, Korean, Thai, Czech |
| Minimum Trade Amount | 0.01 lots |
| Maximum Trade Amount | 10,000 lots |
| Free Demo Account |  |
| Regulated | |
| Regulation | Financial Conduct Authority (FCA); CySEC |
| Account Types | FxPro MetaTrader 4, FxPro MetaTrader 5, FxPro cTrader, FxPro SuperTrader |
| Deposit Methods | Bank Transfer, Visa, MasterCard, PayPal, Skrill, NETELLER, WebMoney, China UnionPay |
| Withdrawal Methods | Bank Transfer, Visa, MasterCard, PayPal, Skrill, NETELLER, WebMoney, China UnionPay |
| Types of Assets | Forex, Futures, Indices, Shares, Metals, Energies |
| Account Currency | USD, EUR, GBP, CHF, JPY, AUD, PLN |
| ECN Broker | |
| Scalping Allowed | |
| Managed |  |
| Lowspread | |
| Forex Demo Contests | |
| Forex Live Contests | |
| US Traders Allowed | |
Pros
- Great design
- easy trading
Cons
- Poor services
- bad support
Full Review
Company Information
Since 2006, when FxPro saw its inception, the Forex company has been on an exponential streak and currently serves institutional and retail customers in over 150 countries. Its more than 100,000 registered traders have accomplished a whopping 150,000,000 orders.
FxPro’s Contracts for Difference (CFDs) bond 6 asset classes, containing Forex, futures, spot energies, spot metals, shares, and spot indices. Front-runner with 40+ awards, FxPro offers its enthusiastic clients top-tier liquidities and sophisticated trade execution that embodies no-dealing-desk model.
The British FCA, in 2010, granted authorisation to FxPro UK Limited. In 2007, FxPro Financial Services Limited was given a CySEC licence, while in 2015 it got an authorisation from FSB.
Since the Forex brokerage firmly trusts that each and every trade has its tools, it has invested considerable amounts of pecuniary means to make certain its traders are well-prepared and equipped. At their disposal are potent technical analysis, high-quality materials for educating, algorithmic services and trading facilities, as well as astute comments on the market.
Trading Information
An excellent array of four trading accounts is accessible at FxPro. These are the FxPro MT4, the FxPro MT5, the FxPro cTrader, and the FxPro Markets. The initial (recommended) deposit for all accounts is set to $500. Additionally, all of them have a gratuitous demonstration account, VIP services, as well as micro accounts. Fixed spreads are only available for the FxPro MT4 account.
The maximum leverage for all accounts is 500:1. However, the MT4 and MT5 have the option of dynamic leverage, while for the FxPro cTrader and FxPro Markets, Forex makes use of the leverage set for the account (save for some amplified margin requirements on symbol).
The Margin Calls and Stop outs for the MT4, MT5, cTrader, and Markets are 25%, 40%, 40%, 40%, and 20%, 30%, 30%, 30% respectively. For the Markets, cTrader, and MT5 accounts there are no requotes whatsoever, but for the Instant MT4 account requotes might occur during times of increased volatility. The FxPro Markets and FxPro cTrader accounts have no minimum when it comes to Stop/Limit levels.
FxPro’s base currencies are USD, CHF, PLN, EUR, GBP, AUD, and JPY.
FxPro Trading Platforms
With FxPro, its avid traders will derive amazing benefit from three (3) different trading platforms all of which empowered with excellent features. Take the specially tailored for FxPro MT 4/5, for instance. With it, one can put his abilities to the test across 6 different asset classes. In addition, there are not only fixed but also floating spreads, there is an Instant and Market execution, and all expert advisors are well supported.
The FxPro cTrader is the second platform which is supported by the Forex enterprise. Its features revolve around spreads that commence from 0 pips, full market depth, as well as no requotes. Besides those, the platform also supports Algorithmic trading with FxPro Quant, permitting investors to formalise their trading style by transforming them into algorithmic trading strategies. The FxPro Quant prides itself on having drag and drop interface, eBook and video guides, as well as customisable templates – both great for newbie dealers.
The newest kid on the block of FxPro’s trading platforms is the FxPro Markets. Awarded by FXWeek e-FX Awards as the “Best Online Trading Platform”, it epitomises single-tap order execution and tight spreads. Keep in mind that there is a demo of all platforms and FxPro allows for brilliant mobile trading with supersonic trade execution – iPads, iPhones, and Android devices included.
Security and Customer Services
As an authorised and stringently regulated entity, FxPro is not bouncing the ball around and meets crucial regulatory requirements, such as investor protection and segregation of funds. The interim and annual financial statements of the Forex company are audited by PWC, which safeguards sticking to the highest international standards. FxPro UK Limited is proud to be a Financial Services Compensation Scheme (FSCS) member while FxPro Financial Services Limited is a part of the Investor Compensation Fund (ICF). As a part of the Client Agreement, the company provides a Negative Balance Protection guarantee on condition that it is not manipulated.
FxPro’s committed team is there to admire you with its impeccable support agents who are reachable 24/5 ready to resolve any issue one may have encountered. Most of the other Forex enterprises heavily praise their own customer support departments, while FxPro is decisive enough to invite you to try theirs and be able to compare the services received. FxPro has an extremely versatile website with 20 languages, among which English, Polish, Malaysian, Korean, French, Portuguese, Indonesian, Arabic, German, Russian, Chinese, Thai, Italian, Spanish, Czech, Vietnamese, Hungarian, Urdu, Hindi, and Japanese. Customer service comes in all these 20 languages and almost all the phone lines around the world are toll-free.
Monaco and Cyprus house the company’s administration and operational command centre.
Deposits and Withdrawals of FxPro
The minimum deposit recommended for FxPro is set to 500 currency units for USD, CHF, AUD, GBP, PLN, and EUR while for JPY, it is 50,000.
The different payment options at FxPro comprise of Bank Transfers, different Credit and Debit Cards (VISA, VISA Delta, Maestro UK, MasterCard, Maestro International, and VISA Electron), China UnionPay, Skrill, PayPal, Moneta, Neteller, mPay, FasaPay (solely for Indonesian customers), Netbanx (solely for Chinese customers), eProtections (solely for Japanese customers), WebMoney (solely for Russian customers), and Boleto (solely for Brazilian customers).
Deposits through Credit or Debit Cards typically appear within 10 minutes while for withdrawals the timeframe is 1 business day. Withdrawals are gratis but deposits require different small fees, depending on the card type. For instance, Debit Cards issued in the U.K. carry no fee. Withdrawing through China UnionPay, PayPal, Skrill, and Neteller is cost-free but depositing via PayPal is accompanied by 2.7% fee.
The enterprise provides the deposit option through FxPro Vault which is a revolutionary risk management and money tool.
Deposit Bonus and Loyalty Programmes
Selected individuals with high net worth and all those whose trade volumes are huge will be offered VIP accounts that derive great benefits from no deposit fees, complimentary VPS service, exclusive news reports, trade recommendations, and alerts for alterations in margin levels that are sent via SMS or e-mail.
In accordance with the stipulations of Sharia laws, swap-free accounts are also accessible at FxPro and are tailored for customers with the Muslim faith.
With the SuperTrader account, investors might deposit as low as $2,000 and make use of a credit multiplier of 4 in an effort to achieve the required necessary capital. Nonetheless, bear in mind that a first-time minimum deposit of $10,000 is necessitated.
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