FXPro offer two ways to trade: Forex, Spread Betting.
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.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are FXPro's spreads & fees?
The spreads displayed below are based on the minimum spreads listed on FXPro’s website. The colour bars show how competitive FXPro’s spreads are in comparison to other popular brokers featured on BrokerNotes.
EUR/USD1.6 PIPS $9 per lot
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
USD/JPY1.1 PIPS $9 per lot
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
GBP/USD1.8 PIPS $9 per lot
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Example: How much would it cost to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) at an exchange rate of 1.1719 and then sell it the next day at the same price you could expect these fees:
|Typical overnight fee:||$8.13||$5.00||$9.40|
|Total cost of a 100k trade:||$17.13||$12||$15.4|
|+$5.13 saving||+$1.73 saving|
|Visit FXPro||Visit AvaTrade||Visit Plus500|
All fees/prices are for informational purposes and are subject to change. Last updated: 17/11/2017.
What instruments can you trade with FXPro?
|FX / Currencies||FXPro||AvaTrade||Plus500|
|# of forex pairs offered||59||59||61|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||10||16||17|
|Indiced & Stock CFDs||FXPro||AvaTrade||Plus500|
|# of Stocks offered||156||99||1816|
|See FXPro's Instruments||See AvaTrade's Instruments||See Plus500's Instruments|
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 MT4 brokers.The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
FXPro also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you‘re on the move.See FXPro's platforms
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 with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, FXPro offer margin up to 0.002% on currencies.
Finally, we‘ve listed some of the popular funding methods that FXPro offers its traders on the right.
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, live chat, phone and email support.
What is Ethereum?
Ethereum is an online platform that enables users to exchange blockchains. It was developed by developer Vitalik Buterin. One useful way to understand how Ethereum works is to compare it to Bitcoin, which in many ways is much simpler. Bitcoin users exchange bitcoins and blockchains are used to track the ownership of specific bitcoins: this constitutes a form of currency. Ethereum has potentially wider applications as it focuses mainly on running code. Nevertheless, Ethereum is primarily used as a form of digital currency – an alternative to Bitcoin. This currency is sometimes just known as ‘Ether’ and those who exchange this currency are known (as with Bitcoin) as ‘miners’. Ether and Bitcoin are both cryptocurrencies. Ethereum can be used as payment for goods and services, or to pay for using features of the Ethereum site itself. It can also be traded. It can be bought via a bank transfer or PayPal.
Advantages of trading Ethereum with a regulated online broker
When trading any instrument it is always advisable to trade with a regulated broker. One key reason for this is the fact that regulated brokers provide good levels of client fund protection. A recent catastrophic event demonstrated that regulated brokers are always the best option when it comes to trading cryptocurrencies. In February 2014, Mt Gox – which up until that point had been the largest Bitcoin exchange in the world – was the victim of a digital heist. As a result, 850, 000 Bitcoins were stolen from Mt Gox. 90% of these Bitcoins belonged to M Gox’s customers. The total losses equalled $473m, i.e. around £365, 865, 500. Hedge fund managers in the know pulled out of any dealings with Mt Gox and the company swiftly declared bankruptcy. In the subsequent months, around 24, 000 former Mt Gox customers claimed for compensation. Mt Gox, however, did not provide client fund protection, and as only 202, 000 Bitcoins have been recovered from the thieves, it is likely that many of these Bitcoin users will never get their money back.
The moral of the story? Protect your funds when trading instruments such as Bitcoin and Ethereum by trading with regulated brokers such as AvaTrade and eToro. These brokers offer several other advantages, too, such as a simple sign up process and the ability to trade other instruments as well as Ethereum.
The fundamental influences of Ethereum
Ethereum is growing in influence, and this growth has been aided by the fact that several powerful multinationals have adopted Ethereum as a currency option. Companies such as Microsoft, Intel and JPMorgan formed a ‘blockchain alliance’ in 2017. This influence is bolstered by the fact that Ethereum is a very profitable currency to trade, as evidenced by marked uptrends when Ethereum is set against all major currencies. The latest analysis indicates that 1 Ethereum is currently worth £ 69.4600671, which constitutes a rise in value of 0.79%.
On May 9th 2017, the phrase ‘buy Ethereum’ started to trend on Google, demonstrating that there has been a huge surge in popular interest in this cryptocurrency in 2017 especially. This is also the year that the Enterprise Ethereum Alliance was announced – a group of academic entities and corporations aiming to focus on the further development of Ethereum. As Ethereum has been surging in 2017 and has bee testing and retesting the $100 mark (which is often seen to be a landmark in cryptocurrencies), it is estimated that the cost of Ethereum will eventually ‘settle’ at something more than $100 (i.e. more than £77).
Ethereum Quick facts:
Year Ethereum started: 2014
Price at start: at the pre-launch purchase phase in 2014, Ethereum was exchanged for Bitcoins. 1 Bitcoin bought 2000 Ethereum, which works out as an exchange rate of 1 Ethereum equalling £0.23 GBP. This was described as a ‘sale’, and the value of Ethereum rose steadily following the initial 42 days after its release.
Highest price to date and what day: on Sunday May 7th, Ethereum was trading for £80.16.
Volume of Ethereum exchanged (daily): £85,254,558.3
First broker to accept Ethereum for deposit/withdrawals: FXOPen
First broker to include Ethereum as a trading instrument: FXOPen
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 March 6, 2018.