Trade Broker FxPro.com Review

FxPro is an experienced broker that has been operating in the market for a relatively long time, offering favourable trading conditions, competitive spreads and a variety of platforms that are ideal for both experienced and novice traders. Their strengths include support for automated trading, tools for creating algorithmic strategies, and a free VPS service for Premium accounts.

FxPro is an NDD broker (which means it acts as a bridge between traders and the market) which has been operating since 2006 and offers online Forex and CFD trading on more than 400 instruments in metals, stocks, indices, energy, cryptocurrencies and futures. The FxPro broker is owned by Cyprus-based investment company Fx Pro Group Limited and is regulated by CySEC, FCA and SCB. Furthermore, FxPro is represented in some of the world’s leading financial centres – London, Monaco and the Bahamas.

FOUNDED	2006
BROKER TYPE	NDD
TRADING PLATFORMS	MT4, MT5, cTrader, Edge
ACCOUNT TYPES	Standart, Srofessional, VIP
LEVERAGE – retail	1:30
LEVERAGE – global / pro	1:200
SPREAD – standart account	From 1.3 pips
MINIMUM DEPOSIT	1000$
MINIMUM TRADABLE VOLUME	0.01 Lot
DEPOSIT/FUNDING OPTIONS	Bank transfer, Credit/Debet card, Electronic wallet
WITHDRAW OPTIONS	Bank transfer, Credit/Debit card
SUPPORT	24/7
REGULATIONS	CySEC, FSCA, UKFCA, SCB, BaFin, ACPR, CNMV

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Deposit. Spreads.

Under the main trading conditions, FxPro offers a minimum deposit of €100, maximum leverage of 1:30 and 5 types of accounts with variable and fixed spreads. MT4 and MT5 accounts have variable spreads and zero commissions, while accounts using the cTrader platform have lower spreads but charge a $45 per million commission per trade. Fixed Spreads are only available on the 7 most important currency pairs through the MT4 Fixed Spread account. The VIP account for professionals is available with a deposit of $50,000 or more, and FxPro offers a free VPS for VIP accounts with a minimum balance of $50,000. Key strengths include automated trading features and tools to support the creation of algorithmic strategies, where FxPro is one of the best brokers today.

Platforms

FxPro offers 4 trading platforms: cTrader, the standard MetaTrader 4 and MetaTrader5 and its own platform FxPro Edge. MetaTrader 4 MT4 is the standard platform to trade CFDs online and is the main recommended choice for most investors with any level of experience. It has extensive customisation options, includes all the important tools for trading and analysis, and is available in 3 versions: desktop, downloadable and installed on your own computer (the most suitable option for the trading factor).

MetaTrader 4

With MT4, you can trade in both traditional and automated mode, using robots and expert advisors. In fact, MetaTrader 4 offers the MT4 Strategy Tester feature that enables you to run strategy tests on past historical price data and optimise Expert Advisors to find the best combinations. Other benefits of FxPro MT4 include the ability to trade from charts, a comprehensive suite of risk management tools and numerous charting options such as indicators, trend lines, different display modes and timeframes.

MetaEditor and MT4/MT5 Strategy Tester. For MT4 or MT5 users, MetaEditor is an integrated software that allows you to create, edit and compile custom indicators, while the Strategy Tester allows you to test your strategies to optimize them and find the best combinations.

Traders with high trading volumes have access to a VIP account, which offers competitive spreads, low commissions and free VPS. In addition, the broker provides access to some of the best platforms on the market, offers both fixed and variable spreads and has won over 70 awards over its lifetime.

Overall, FxPro offers excellent conditions for many types of trading and extremely fast execution. This is thanks to a very efficient infrastructure with very low latency and multiple execution methods, such as market or limit.

Disadvantages / Advantages

Disadvantages

It’s easy to see that FxPro’s education section is rather poor, making it a less than ideal broker for new traders in the learning phase. Also, despite the very low spread of 0 pips on the cTrader account, the $9 per lot traded is high compared to other large brokers.

Advantages

The broker manages to cater to different trading types and techniques. It facilitates scalping, hedging, spread betting and algorithmic trading with EAs.

The choice of execution methods is excellent, there are even instant market orders through the MT4 platform. Despite fixed spreads reaching up to 1.6 pips, trading costs associated with spreads are generally low and leave a lot of freedom of choice. Finally, FxPro is one of the few brokers without inactivity fees, which is ideal for casual traders.

Opinions on FxPro CFD and Forex trading

First of all, it should be made clear that FxPro is a CFD broker. It means that all instruments are CFDs, whether Forex or not. There are over 260 instruments in total, including Forex, futures, indices, stocks and commodities such as metals and energy.

Spreads are very competitive with very low averages for major traded instruments: 0.31 pips for EUR/USD, 0.7 pips for GBP/USD, 0.92 pips for EUR/GBP and 0.62 pips for gold. All on par with most major brokers, if not better. With the MT4 platform, you can also have fixed spreads in forex trading.

Beware, however, when withdrawing funds: although the broker does not usually charge a fee, the trader’s personal bank may do so, and withdrawals via eWallet are subject to a 2.6% fee on the total amount withdrawn.

Pros

Spreads in line with other leading brokers
Wide range of account types and trading platforms
Withdrawal and deposit fees are generally not charged

Cons

Multiple deposit methods including bank transfer, credit and debit cards and multiple e-wallets depending on where the trader is from

FxPro: Opinions on the cTrader platform

For scalpers and those looking for direct access to the market and lightning-fast execution speed, there is the cTrader platform from FxPro. Spreads on this platform start at 0 pips, but commissions are relatively high at $9 per lot.

Pros

Lightning-fast execution with cTrader
Very low average overall spreads

Cons

High commission per lot with cTrader
Fixed spreads are not available

In conclusion, FXPro is definitely a reliable broker and the long history behind it confirms this.

The trading conditions provided by FxPro are indeed favourable, while the favourable spreads and the various platforms on which you can trade complement the already favourable outlook.

Furthermore, thanks to the range of platforms, the broker is suitable for all traders, from those taking their first steps in the world of investments to the most demanding and professional. The variety of assets available to trade is also outstanding.