FxPro: A Remarkable Broker With Service Variety Edge

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FxPro

Are you looking for a reliable forex broker that can provide you with a comprehensive trading experience? Look no further than FxPro. We will look in-depth at what makes FxPro stand out in the forex trading industry. 

In Addition, this forex trading broker review will explore the key aspects of FxPro, including its regulation and registration, account types, deposit and withdrawal methods, trading platforms, fees, promotions, customer support, and the pros and cons of choosing FxPro as your forex trading partner.


 FxPro: Overview 

FxPro

Established: 2006
Headquarters: United Kingdom
Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader, FxPro Platform
Mobile Trading: Yes
Minimum Deposit: $50
Account Types: Standard, Pro, Raw+, Elite

Since its start in 2006, FxPro has become a remarkable broker in the forex trading industry. It has a global impact and serves clients in more than 170 countries despite being headquartered in the UK. FxPro’s history is marked by a dedication to offering a variety of trading services that build trust and dependability among its broad user base.


Regulation and Registration

FxPro is committed to upholding the highest standards in client fund safety and maintaining segregated accounts in central international banks. Several esteemed authorities regulate this broker. Those include the UK’s Financial Conduct Authority (FCA, registration no. 509956) and Cyprus’s Securities and Exchange Commission (CySEC, license no. 078/07). 

Additionally, it falls under the oversight of South Africa’s Financial Sector Conduct Authority (FSCA, authorisation no. 45052), the Securities Commission of The Bahamas (license no. SIA-F184), and the Financial Services Commission of Mauritius (FSCM, license no. GB21026568). 

This diverse regulatory landscape ensures FxPro’s adherence to international compliance standards, offering a secure trading environment.


Account Types of FxPro

FxPro

Standard Account

  • Minimum Deposit: $50
  • Spreads: From 1.2 pips (EUR/USD, GBP/USD, USD/JPY), average spread of 1.5 pips
  • Gold Spreads: From 25 cents, average spread 30 cents
  • Bitcoin Spreads: From $30, average spread $40 
  • Trading Instruments: Forex, gold, bitcoin
  • Leverage: Up to 1:500
  • Trading Platform: MT4/MT5
  • Swap Free: Yes (Islamic accounts option)

Pro Account

  • Minimum Deposit: $500
  • Spreads: From 0.6 pips (EUR/USD, GBP/USD, USD/JPY), average spread of 1 pip
  • Gold Spreads: From 20 cents, average spread 25 cents
  • Bitcoin Spreads: From $15, average spread $20
  • Trading Instruments: Forex, gold, bitcoin
  • Leverage: Up to 1:500
  • Trading Platform: MT4
  • Swap Free: Yes (Islamic accounts option)

Raw+ Account

  • Minimum Deposit: $500
  • Spreads: From 0 pips (EUR/USD, GBP/USD, USD/JPY), average spread of 0.2 pips
  • Gold Spreads: From 10 cents, average spread 15 cents
  • Bitcoin Spreads: From $15, average spread $20
  • Trading Instruments: Forex, gold, bitcoin
  • Leverage: Up to 1:500
  • Trading Platform: MT4/MT5
  • Swap Free: Yes (Islamic accounts option)

Elite Account

  • Minimum Deposit: $30k in 2 months
  • Spreads: From 0 pips (EUR/USD, GBP/USD, USD/JPY), average spread of 0.2 pips
  • Gold Spreads: From 10 cents, average spread 15 cents
  • Bitcoin Spreads: From $15, average spread $20
  • Rebates: Start from $1.5 per lot
  • Trading Instruments: Forex, gold, bitcoin
  • Leverage: Up to 1:500
  • Trading Platform: MT4/MT5
  • Swap Free: Yes (Islamic accounts option)


Deposit and Withdrawal

FxPro offers a variety of deposit methods to accommodate the diverse needs of its clients globally. These include traditional bank wire transfers, credit/debit cards, and popular online payment platforms. Those include PayPal, Neteller, and Skrill. The availability of specific deposit methods may vary based on the client’s country of residence, ensuring a tailored and convenient funding experience. 

FxPro also maintains a policy requiring withdrawals to be processed through the same method used for deposits. Clients can access detailed information about all available payment methods on FxPro’s dedicated deposit methods webpage.


Products in FxPro

FxPro provides a comprehensive range of trading products, catering to a diverse clientele with varying investment preferences. The broker’s product offerings include:


Trading Platform of FxPro

FxPro offers a selection of advanced trading platforms, each designed to cater to traders’ varied needs and preferences. Here’s a list of them:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • FxPro Platform


Fees of FxPro

FxPro applies different commission structures based on account type. The MT4 Raw Spread account has a commission of $3.50 per lot for FX & Metals trades. cTrader accounts incur a $35 commission per $1 million traded for FX & Metals. Other instruments on these accounts have floating spreads without commissions. 

There’s no commission for standard MT4 & MT5 accounts; costs are included in the spread with a slight mark-up. This commission-free approach extends to Spread Betting accounts for UK clients.


FxPro Promotions

Currently, FxPro does not offer any welcome bonus or deposit bonus.


Customer Support


Pros & Cons

  • Diverse trading platforms
  • Regulatory compliance
  • Variety of account types
  • Low minimum deposit
  • Competitive spreads and commission structure
  • Global reach
  • Advanced trading tools and resources
  • Complex pricing for beginners
  • No U.S. clients
  • Limited promotions
  • Withdrawal restrictions
  • High minimum for Elite account

Pros Explained

  • FxPro offers a range of platforms like MT4, MT5, cTrader, and its own platform catering to different trading styles and preferences.
  • With several well-known regulations, FxPro is committed to safety and transparency.
  • The range of accounts, including Standard, Pro, Raw+, and Elite, allows traders to choose one that best fits their trading strategy and experience level.
  • The $50 minimum deposit for the Standard account makes it accessible for beginners or those with limited capital.
  • FxPro’s competitive spreads and clear commission structure are attractive to active traders, offering cost-effective trading conditions.
  • FxPro’s widespread worldwide popularity really shows its reliability, with clients in more than 170 countries.
  • The broker provides valuable tools and educational resources, benefiting novice and experienced traders in enhancing their trading skills.

Cons Explained

  • The array of account types and pricing options can confuse beginners, making selecting the most suitable account challenging.
  • Traders in the United States are excluded from FxPro’s services. It limits its accessibility for a significant market segment.
  • The absence of welcome or deposit bonuses may deter traders who seek initial trading incentives or rewards.
  • The withdrawal policy is the same method as deposits, which may restrict flexibility for some traders.
  • The Elite account’s high initial deposit requirement of $30k over two months restricts its accessibility to average retail traders.


Is FxPro Worth Considering?

Forex trading broker review

For traders evaluating their options, FxPro presents a practical choice when considering specific criteria for decision-making. Its array of trading platforms and strong regulatory framework are key factors for those prioritizing flexibility and security. The low entry barrier, a $50 minimum deposit and competitive spreads make it accessible and cost-effective. 

However, it’s important to weigh these advantages against potential limitations. The potential limitations are the complexity of its pricing structure for novices, the absence of service for U.S. clients, and the lack of promotional bonuses. These factors could be decisive, depending on individual trading strategies and requirements.

Ultimately, FxPro’s appeal hinges on individual trading needs and preferences, particularly those prioritizing platform variety and regulatory security.


FAQs

1. What is FxPro?

FxPro is a forex trading broker established in 2006 that provides clients with a range of trading platforms and services globally. Multiple authorities, including the FCA and CySEC, regulate it. It also offers trading in various financial instruments.

2. Which trading platforms does FxPro offer?

FxPro offers MetaTrader 4, MetaTrader 5, cTrader, and its own FxPro platform, catering to different trading styles and preferences.

3. What types of accounts are available with FxPro?

FxPro provides several account types, including Standard, Pro, Raw+, and Elite, each with unique features to suit different trading needs.

4. Are there any commission fees for trading with FxPro?

Commission fees vary by account type. The MT4 Raw Spread and cTrader accounts have specific commission structures. The standard MT4 & MT5 accounts are commission-free, with costs included in the spread.

5. Can I trade on FxPro with a low minimum deposit?

Yes, FxPro’s Standard account can be opened with a minimum deposit of just $50, making it accessible for traders with limited capital.


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By FinxpdX Team
By FinxpdX Team
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