Is FxPro a Reliable Broker? - Detailed FxPro Review

In our detailed FxPro review, you will find out about broker errors. Find out which companies provide services under the FxPro brand and what interesting services it provides.

Professional FxPro Review

The list of MetaTrader brokers is hard to imagine without FxPro on it. The service proposes the complete suite of MT4 and MT5 platforms with numerous accounts and execution methods. Most of the offerings are balanced. FxPro is known for prices that are above the market average, and that is the basic pitfall. 

Top Takeaways for 2021

Key points to consider:

   - The company suggests a wide range of payment methods, involving different approaches to executing. Still, the rivals like CMC Markets and IG have better prices.

   - FxPro was established in 2006 and is monitored by a single tier-1 jurisdiction and 2 tier-2 jurisdictions.

   - FxPro is known as a secure brokerage for trading CFDs and Forex.

   - The platform is famous for MetaTrader and cTrader offering. It is compatible with online, mobile, and desktop.

Currently, four companies provide services under the FxPro brand: the English FxPro UK Limited (authorized and regulated by the Financial Conduct Authority, registration number: 509956), FxPro Financial Services Ltd (authorized and regulated by the Cyprus Securities and Exchange Commission, license number: 078 / 07, also authorized and regulated by the Financial Sector Authority of South Africa, license number 45052), FxPro Global Markets MENA Limited (authorized and regulated by the Dubai Financial Services Authority, number: F003333) and FxPro Global Markets Limited ( Authorized and Regulated by the Bahamas Securities and Exchange Commission, license number SIA-F184).

Let’s talk about the first impression now. The FxPro website has been translated into twenty languages, including Russian and English. It is not difficult to find everything you need on the site. However, bear in mind that the trading conditions of companies operating under the FxPro brands vary in different jurisdictions. In order to obtain up-to-date data, you need to make sure that the information belongs to the service with your account. 

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Registration

Registering a personal account on the FxPro website is simple, but the process requires your full attention. Decide in advance which of the four companies operating under a common brand you want to join and open an account. Citizens of the CIS can consider the option of registering a personal account with FxPro Global Markets Limited registered in the Bahamas. The registration process itself is standard and does not cause any difficulties. 

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Deposit and Withdrawal Methods

The variety of methods for depositing and withdrawing your funds depends on the company with which a trading account is opened. For the English FxPro and the UAE office, only bank transfers and operations with payment cards are available; for the Cypriot one, it is also possible to replenish trading accounts using PayPal, Skrill, Neteller, Union Pay, and Webmoney payment systems. In FxPro Global Markets Limited, in addition to bank transfers and card deposits, transfers via Skrill and Neteller are possible.


Trading Terms & Conditions

The trading terms offered by FxPro brand units vary by country of incorporation. For retail clients, the maximum leverage is limited to 1:30 (in the UAE, leverage is 1:50), and only in the Bahamian FxPro Global Markets Limited, trading with a leverage of 1:500 is available. The recommended minimum deposit in all four divisions is $500, and the size of the minimum orders is 0.01 per lot. 69 currency pairs, CFDs on indices, stocks, and bonds available for trading it’s all about FxPro.


Trading Platforms

FxPro clients can trade via the Metatrader4, Metatrader5, and cTrader terminals. The minimum spreads are provided on trading accounts using the cTrader terminal. However, keep in mind that an additional fee of 4.5 USD will be charged per 100,000 USD turnover.

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Safety and Security

Client funds transferred to FxPro are completely segregated from the company's own funds and are held in segregated bank accounts. This measure excludes the misuse of client money. The PWC Global Financial Auditor regularly audits the broker's financial statements. In the absence of manipulation and good faith, FxPro provides clients with negative balance protection.

Education

In the special academia section, users can find various educational materials and video tutorials that familiarize them with the industry. You can also find mini cards with snippets of info and how-to blog posts. The inserted progress tracking function allows watching your growth. 

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Client Care & Support

In case of any questions, the client can contact the support service through the ticket system, online chat, by phone, or by email. Online chat support works promptly, and we had the opportunity to verify it by asking a number of questions when opening an account.

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Verdict

FxPro is definitely a trustworthy company. Licenses from reputable financial regulators testify to the reliability of the broker and the high quality of the services provided. Recent trends in the FOREX market regulation with toughening margin requirements reduce the attractiveness of regulated jurisdictions. However, if a trader is managing significant capital and is not willing to bear non-trading risks, opening an account with an English or Cypriot branch is the safest option. If you want to get higher leverage, you can safely open a trading account with FxPro Global Markets Limited, registered in the Bahamas. On the whole, FxPro is a well-capitalized, credible online broker that offers multiple platforms and numerous execution methods.



Comments 1

4.5
Marvin
01.11.2021
Absolutely satisfied with my cooperation with fxpro! The execution is excellent, with good spreads, also I am pleased with the lack of commissions for MetaTrader 4. In general, this company is quite reliable and well-known on the market.