Broker ReviewsTrending May 29, 2018 fdnik8 0
FXPro Review 2021
Our 2021 FXPro review will describe several key areas that we have determined are of considerable importance to the aspiring trader searching for the best forex brokers to apply their trade.
What is FXPro?
Founded in 2006, FXpro possesses a broad client base, serving clients in over 150 countries from around the globe. Providing a considerable range of trading options while constantly searching for new, innovative methods to apply the latest technological advances to improve their service, they are a forex company that refuses to rest on their laurels. Winners of more than 40 awards since foundation, FXPro continues to provide the kind of quality service that appeals to their ever-expanding clientele.
Our FXPro usa review must report that unfortunately this forex trading broker is unavailable to US clients. This is due to a regulatory conflict whereby the USA regulatory body, the SEC, does not allow contract for difference (CFDs) instruments to be made available to residents of this region.
There are five separate jurisdictions under which FXPro is regulated:
FXPro Financial Services Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 078/07. It is also regulated by the Financial Services Board (FSB) in South Africa under license FSP No. 45052.
FXPro Global Markets Limited is regulated by the Securities Commission of The Bahamas (SCB) under license number SIA-F184.
FXPro Global Markets MENA Limited is regulated by the Dubai Financial Services Authority (DFSA) under license number F003333.
FXPro UK Limited is authorized by the Financial Conduct Authority (FCA) under license number 509956.
Reliability and Security
Because FXPro is regulated by five regulatory bodies, there are a many strict guidelines that they must adhere to that ensure that they are operating securely, reliably and effectively. In addition, that FXPro has received many reputable awards including Best FX Broker, Best FX Provider and Best FX Service is testament to the fact that they are a highly reliable brokerage firm.
In terms of security, both the FCA and CySEC apply regulations that ensure that money is protected by being kept in segregated funds within tier-1 banks that are separate from FXPro’s operating funds. Furthermore, client data is protected by encrypted Secure Socket Layer (SSL) technology that ensures customer data and personal information is kept extremely secure.
FXPro Trading Platform
Our FXPro review identified that there are a range of trading platforms offered to clients who choose to register with this brokerage. The firm offers the following trading platforms to their clientele:
- MetaTrader 4 – This remains the preferred trading platform for most brokers and it is easy to see why. It provides the user with advanced charting, many technical indicators, a back-testing environment, and a wide range of expert advisors. With so many tools and with a clear, easy to use interface, it is likely to remain the popular choice for many years to come.
- Meta Trader 5 -The successor to MetaTrader 4, this trading platform has built upon the positive features of MetaTrader 4 by also allowing the execution of trades in several financial markets through just a single trading account.
- cTrader Platform– Created for use in the No Dealing Desk (NDD) environment, cTrader is ultra-reliable, easy to use and highly transparent.
- FXPro Markets – The latest creation from FXPro, this mobile trading platform is an all-in-one trader that allows clients to create and manage accounts, deposit funds, and trade without having to exit the application.
*While we were hoping to conduct an FXPro super trader review, it must be noted that the company no longer offer this social trading platform option to their traders.
Mobile Trading Capability
The FXPro trading platforms, MetaTrader 4, MetaTrader 5, cTrader and FXPro Markets, are available in mobile app form at both the iOS App Store and the Google Play Store. The mobile app makes it easy for traders to execute trades and browse the market while away from the home or office.
Types of Trading
While specialists in forex, there are several trading instruments available for FXPro clients to trade with. These trading instruments are:
- Spot Metals
- -pot Energies
At FXPro you can trade cryptocurrency against the USD but please note you do not have the ability to deposit or withdraw with cryptocurrency. The types of cryptocurrency offered for trade against the USD at FXPro are:
Our FXPro review in 2021 has uncovered that this brokerage provides two types of account to their clients which are:
FXPro Demo Account: A free account that is available to anyone who may want to trial this brokerage prior to outlaying any money. The FXPro demo account is available in three formats: for MetaTrader 4, MetaTrader 5, and cTrader. There is no need to undertake a fxpro demo download to trial this account type. Simply sign up and launch the platform online.
Live Accounts: For those ready to trade with real money, FXPro provides a live account for users that differs depending on the type of trading platform you intend to use. They offer MetaTrader 4, MetaTrader 5, cTrader and FXPro Markets live account types. Simply choose the platform you’d prefer to use, and you are ready to trade.
Spreads and Commissions
Depending on what trading platform you use, FXPro may or may not charge commissions. Those who use MetaTrader 4 or MetaTrader 5 live accounts will not pay commissions but those using cTrader may need to pay commissions on trades.
Our FXPro review in 2021 found that the company’s fixed spreads were quite competitive with 1.6 pips on EUR/USD which is considerable lower than other similar brokers at the time of investigation. The tightest spreads are available on cTrader live accounts, starting at 0.4 pips, but do not forget that with this account type and on this trading platform you will be charged a commission which may minimize the benefit somewhat.
For clients of FXPro looking to make deposits and withdrawals, there are several options available. These options include:
- Bank wire transfer
- Credit Card (incl. Visa, Mastercard, Maestro)
For clients who fall under the jurisdiction of FXPro UK Limited they may only use either Bank transfer or Credit Card payment options.
Withdrawals are usually completed within one business day, but the entire withdrawal process can sometimes take up to 5 business days from start to finish.
Promotions and bonuses
Our FXPro review found that at the current time they do not offer any kinds of promotions or bonuses to their clientele.
FXPro offers a comprehensive level of customer service. Their customer support team is accessible via live chat, email or phone from Monday to Friday, 24 hours a day. As they service so many locations around the world, they provide a localized service in over 29 separate countries.
- Very active and available customer support service
- FXPro demo account available
- A wide range of trading instruments
- Four separate choices of trading platforms including the hugely popular MetaTrader 4
- Very well regulated and highly secure
- No promotional offers or bonuses
- Not a very expansive range of cryptocurrency options
- Lack of Social Trading Platform with the removal of Super Trader
- No USA clients accepted
Our FXPro review in 2021 has identified that this brokerage firm is one of the most trusted and secure forex brokers available to clients. With oversight from five regulatory bodies and access provided to four trading platforms, it is little wonder that this broker has been gaining rapidly in popularity over the 12 years of their existence. While they provide no bonuses to their clientele, and have removed the social trading platform, Super Trader, they remain a great option for those looking to join an elite forex brokerage firm.
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