FxPro

FxPro Logo Large


Legal Company NameFxPro Financial Services Limited
Websitehttps://www.fxpro.co.uk
Year Founded2006
Offices LocationsUK, Cyprus, South Africa
RegulatorsFSCA No.45052, FCA, CySEC
Broker TypePure STP
Minimum Deposit$100
Maximum Leverage500:1
Minimum Spread0.6 pips
Deposit & WithdrawalBank wire, Visa/Mastercard
Currency Pairs70+
Trading PlatformMetaTrader 4, MetaTrader 5, cTrader, FxPro Edge
Web-based PlatformsYes
Mobile AppsYes
A low $100 minimum deposit and strong regulation from CySEC, FCA and the FSCA, has put FXPro at the front of the pack for a few years now.  FxPro delivers instant market execution, a fixed spread option, and trading in commodities, metals, and shares in addition to Forex. And if that isn’t enough, they have won more than 40 awards for being Best FX Service, Best FX Broker, Best FX Tools, and Best FX Trading Platform since 2006.  In short, FxPro is in the top tier of global Forex brokers and is certainly a hard act for other brokers to follow.

Account Types:

Besides a demo account, there are two live accounts available at FxPro.  All accounts allow for 8 base currencies including AUD.

Standard:  This account is for the retail trader interested in taking their first step into forex trading.  With negative balance protection, a minimum deposit of just $100, and instant market execution, this account should be a good choice for most traders who want to take advantage of the FxPro platform.

Premium:  With the premium account come more tailored features, including a dedicated account manager, daily market analysis, exclusive events, and no withdrawal fees.  This account is for the trader who is either trading often or in high volumes and carries a $50,000 minimum account balance.

Platform

You can choose your trading platform and as well as the in-house developed FXPro system or you can stick with the popular MetaTrader4, MT5 or cTrader.  All have a low latency connection to the market and allow for good analysis of technical indicators and market sentiment.

Regulation

FXPro has strong regulators for the business from around the world.  Client Investment accounts are segregated from operating capital and deposited in major banks.  When Australian clients sign up with FxPro, the accounts will be set up under the FCA licnse.

Spreads and Leverage

The spread is lowest at 0.6 pips.  The leverage changes with investment product so you would need to check that out when you apply for an account.  The maximum leverage available is 500:1.

Customer Support

Should you need customer support, you have it available 24/5, in 18 languages, beginners-ready and well-trained reps.  All available through phone, email, and live chat from their website.

The brokerage has an FXPro Academy which includes trader designed webinars. You can obtain tutorials and videos and the usual market commentary and tips on trading strategies as well.  This is one of the best educational services I know to be run by a broker – if you are a beginner or signing up for the demo account, this feature will serve you well.

Deposits and Withdrawals

Visa and Mastercard are accepted as well as bank transfers.

My Thoughts

A company that can manage 5000 trades per second and executes 99.9% of orders in 50 milliseconds is considered fast. FXPro is the leader in Forex trading, cleverly set up by financial experts ten years ago.  Low latency, lower minimum deposits, education available, and MT4/MT5 platform support – spot on.  You don’t need much more than this.


Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.