1. Home
  2. Compare Forex Brokers
  3. FXPro review

FXPro Review

  • Regulated by: Financial Conduct Authority, CySEC
  • Safety: segregates client funds
  • Trust Rating: AAA
Open FXPro's Website

Your capital is at risk

Overview

FXPro is a forex and spread betting (UK) broker. They give traders access to the major markets like currencies, indices, commodities and shares. For traders interested in cryptocurrencies like Bitcoin, FXPro is one of the few brokers that also offer cryptocurrency CFDs.

To open a live account, you’ll need a minimum deposit of at least $1. Alternatively, FXPro offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 509956 ), and CySEC (Licence: 078/07 ). FXPro puts all client funds in a segregated bank account and uses tier-1 banks for this. FXPro have been established since 2006 , and have a head office in UK .

Before we dive into some of the more detailed aspects of FXPro ’s spreads, fees, platforms and trading features, you may want to open FXPro ‘s website in a new tab by clicking the button below in order to see the latest information directly from FXPro.

Open a demo account Visit FXPro

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

FXPro screenshot

PROS

  • Segeregates client funds
  • Established in 2006
  • Regulated by Financial Conduct Authority, CySEC
  • Min. deposit from $1

CONS

What are FXPro's spreads & fees?

Like most brokers, FXPro take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on FXPro’s website. The colour bars show how competitive FXPro' spreads are in comparison to other popular brokers featured on BrokerNotes.

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, FXPro 's minimum spread for trading EUR/USD is 1.6 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with FXPro vs. similar brokers.

See all Spreads
Your capital is at risk

How much does FXPro charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with FXPro at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index .

FXPro XTB City Index
Spread from: N/A $ 2.00 $ 5.00
Typical overnight fee: N/A $ 7.94 $ 20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 9.94 $ 25.6
Visit FXPro Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Your capital is at risk

General Fees

  • FXPro does charge inactivity fees
  • FXPro doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$8.13
  • The rollover fee for short positions on EUR/USD is $2.23

Commissions

  • FXPro does charge commission on CFD shares

What can you trade with FXPro?

FXPro offers over different instruments to trade, including over 59 currency pairs. We’ve summarised all of the different types of instruments offered by FXPro below, along with the instruments offered by XTB and City Index for comparison.

FX / Currencies FXPro XTB City Index
# of forex pairs offered 59 50 84
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs FXPro XTB City Index
# of commodities offered 10 0 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs FXPro XTB City Index
# of Stocks offered 156 1500 4500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See FXPro's InstrumentsSee XTB's InstrumentsSee City Index's Instruments
Your capital is at risk

What’s the FXPro trading experience like?

1) Platforms and apps

FXPro is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. FXPro is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of cTrader brokers. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

FXPro Screenshot See FXPro 's Platforms

FXPro also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See FXPro 's platforms
Your capital is at risk

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Micro account
  • Mini account
  • Standard account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument. As FXPro offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As a nice bonus, FXPro are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at ) .

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

FXPro also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by FXPro and much more. You can see all of the account features offered by FXPro here.

Finally, we’ve listed some of the popular funding methods that FXPro offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • PayPal
  • Payoneer
  • Neteller

3) Client support

FXPro support a wide range of languages including Arabic, Chinese, English, French, German, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese

FXPro have a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with FXPro

As FXPro is regulated by Financial Conduct Authority, CySEC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore FXPro’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FXPro you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fxpro.co.uk/ on August 23, 2018.