FxPro review and reviews of the broker
Founded in 2006, FxPro is a leading online forex broker. It is regulated by the Cyprus Securities and Exchange Commission (CySEC – 078/07), the Financial Conduct Authority (FCA – 509956), the Dubai Financial Services Authority (DFSA – F003333) and the Bahamas Securities Commission (SCB – SIA-F184). It was created by a group of experienced financial experts led by Denis Sukhotin. The company works to offer retail traders a reliable and safe way to trade on the financial markets. The maximum leverage is 500:1. In addition, this broker can attract clients with low spreads, which for EUR/USD pair start from 0.6 pips.
|The company||FxPro UK Limited|
|Type of broker||NDD (Non Dealing Desk)|
|Leverage||1: 500 (1:30 EU retail clients)|
|Minimum deposit||100 USD|
|Protection from negative balance||Yes|
|Regulation||CySEC, FCA, SCB, DFSA|
|Trading platforms||MetaTrader 4, MetaTrader 5, cTrader|
|Payments||bank transfer, credit/debit cards, PayPal, Skrill, Neteller, Netbanx, WebMoney, FasaPay, Przelewy24|
|EUR/USD spread||От 0,6|
|Number of tools||–|
Founded in 2006, FxPro is an online Forex and CFD broker that offers several tools on the most advanced platforms. It is headquartered in the United Kingdom and has branches in Cyprus, Monaco, the Bahamas and the United Arab Emirates. FxPro has over 1.3 million client accounts from over 173 countries. The website is translated into more than 25 languages.
Over 250 tools in 6 asset classes can be traded on four trading platforms including MT4, MT5, cTrader and Edge. UK traders also have access to spread betting.
The broker clearly states that it is neither an ECN nor an STP broker. Rather, it offers true non-dealing execution (NDD). FxPro claims that it does not interfere in the evaluation or execution of client orders. “Quotix is FxPro’s own aggregator that compares prices with more than 12 liquidity providers. The trading servers are located in Equinix’s London or Amsterdam LD5 data centers, in close proximity to tier 1 banks which provide liquidity. The result is a high liquidity and execution speed of approximately 11.06 milliseconds.
FxPro claims to have invested a hundred million in sponsoring sporting events and sports teams, including 3 Formula 1 teams, 4 football clubs, 2 rally championships and more than 22 competitions.
FxPro has won over 60 awards for its online brokerage services. They have accumulated over the years at various events. Some of the awards are the following:
- Best Forex Broker Award: won 32 times.
- Best Forex Provider Award: won 16 times.
- Best Forex Tools / Services Award: won 13 times.
- Best Forex Platform Award: won 8 times.
FxPro review: regulation
FxPro Group Limited is the parent company of all FxPro regional institutions. FxPro is regulated in 5 jurisdictions:
FxPro UK Limited is authorized and regulated by the Financial Conduct Authority (FCA). Registration number is 509956.
FxPro Financial Services Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). License number is 078/07.
FxPro Financial Services Limited is authorized by the Financial Sector Supervisory Authority (FSCA). Registration number is 45052.
FxPro Global Markets Middle East and North Africa (MENA) Limited is authorized and regulated by the Dubai Financial Services Authority (DFSA). Its registration number is F003333.
FxPro Global Markets Limited is authorized and regulated by the Bahamas Securities Commission (SCB). The license number is SIA-F184.
The broker is also registered with BaFin with registration number: 121095, ACPR; registration number: 72430, CNMV; registration number: 1722 and 25 other regulatory authorities.
FxPro confirms that client deposits are properly segregated from broker funds. Funds are held in international banks with the highest rating.
All clients are properly checked in accordance with anti-money laundering (AML) policies. This should deter money laundering and terrorist financiers. All clients must upload a scanned image of their ID card and utility bill during registration.
FxPro Financial Services Ltd is a member of the Investor Compensation Fund (ICF). In case the broker is unable to meet its financial obligations, ICF can extinguish acceptable client deposits up to 20,000 euros per client.
FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS) and the FSCS insures acceptable client deposits up to £85,000 per client.
FxPro review: countries
FxPro does not provide the services to clients from the USA, Iraq and Canada. Some of the FxPro functions and products mentioned in this FxPro review may not be available for traders from certain countries due to legal restrictions.
FxPro review: trading platforms
FxPro clients are provided the following platforms for Forex and CFD trading:
MetaTrader 4 (MT4)
The MT4 platform has become an industry standard due to its capabilities, tools and scalability. MT4 has built-in functions for trading, analytics and supports the FxPro NDD brokerage model. FxPro provides the following MT4 versions:
WebTrader: available on the FxPro website. It works directly in most modern web browsers without the need to download or install any additional software.
MT4 for MAC: This is a desktop application for MAC computers.
MT4 for Windows: This is the MT4 desktop application for Windows computers.
MT4 mobile apps: designed for iOS and Android smartphones and tablets. The mobile trading application is useful for those who want to trade while on the go.
Here are some of the main features of the MT4 platform:
It has a simple and user-friendly interface that can be modified and changed according to the client’s wishes.
It is available in more than 35 languages.
Charts and analysis with 30 technical indicators and 24 drawing tools.
MT4 supports creating scripts and deploying Expert Advisors (EAs), which are used to automate Forex and CFD trading.
Provides direct access to the MetaTrader marketplace, where applications, signals, EAs, indicators and other platform tools can be purchased or purchased for free.
Notifications of prices via SMS, email and pop-ups.