Is FxPro a good option for you to use as your broker? When comparing Forex brokers, why is FxPro considered a top choice? In this FxPro Review, we will dissect what makes FxPro one of the most popular and reliable brokers available today. In addition to this, we shall discuss its trading conditions, as well as its tools and platforms. We’ll examine FxPro together to see if it’s a scam or a real broker, and to find out why it’s regarded as one of the best.
FxPro Review: Is FxPro.Com Broker Trustworthy?
FxPro began conducting business as an online Forex broker in 2006, and ever since that time, the company has made significant strides in improving the quality of the services it provides by focusing on the needs of its customers and designing its business practices accordingly. In point of fact, FxPro is currently serving retail and institutional customers from approximately 170 countries through a total of over 2 Million trading accounts, which has propelled it to the position of being one of the most successful Forex brokerages.
FxPro Pros and Cons
The procedure for opening an account with FxPro is quick, can be completed entirely online, and is user-friendly. The customer support offered by FxPro is of high quality; it responds to inquiries in a timely manner, gives information that is both accurate and pertinent, and can be reached in a variety of languages. There are numerous fee-free deposit and withdrawal methods available.
The fact that FxPro only offers Forex and CFD trading is a drawback of the company’s product offering. The penalties for not trading are around average, and there is also an inactivity fee that begins to accrue after a period of one year during which there is no trading.
How Are You Protected at FxPro Broker?
First and foremost, having a broker that is licensed guarantees its legitimacy; the broker’s performance is monitored on a regular basis by a reliable body, and the client’s money is safe thanks to a variety of protections. Client funds are kept in segregated accounts with European investment-grade institutions, and traders have access to negative balance protection and share in investor compensation in the event of FxPro’s bankruptcy.
It’s important to only work with regulated brokers and avoid offshore ones.
Some typical offshore brokers are as follows:
- SagaTrade: SagaTrade is an unregulated broker, thus your money is not secure with them.
- TriumphFX: Avoid making investments with this shady broker because they don’t have a license to do so.
- Kiplar: As an unregistered brokerage, your funds are not secure with them.
Account Types Offered at FxPro
There is a single FxPro Account that provides access to all of the features and benefits that FxPro has to offer; alternatively, Micro Accounts and Swap-free Accounts are also on the table. You may easily switch between your Live account and your Demo account right from the platform, so you can keep using your Demo account for practices even if you have a Live account.
Trading Instrument Available at FxPro
Initially launched as a Forex broker, FxPro has since expanded to offer CFDs across six asset classes and more than four hundred thirty instruments. In the course of compiling this FxPro Review, we came to the conclusion that the broker actively pursues furthering its development by incorporating an increasing number of trading instruments, which contributes to the expansion of the company overall.
Another benefit is that FxPro Cryptocurrencies offers CFD speculating with the most well-known cryptos.
Deposit and Withdrawal Procedure
One unique feature of the FxPro broker service is that traders can utilize the same deposit and withdrawal methods. If a trader deposits funds using one of the supported payment methods (PayPal, Skrill, or Neteller), then they must also withdraw using that method. With credit cards, the profits are simply loaded onto the traders’ credit cards.
With a wire transfer, the funds from your withdrawal are sent back to the account you originally used to make the transfer. FxPro has an extensive frequently asked questions section where you can learn more about the supported banks.
FxPro currently accepts payments via 6 different methods.
- Bank wire transfers
- Credit Cards
Deposits can be made in a variety of currencies other than the account base currency, and no additional fees will be incurred due to currency conversion. These currencies include: USD, EUR, KWD, AED, SAR, and RMB.
What is The Required Minimum Deposit at FxPro?
While there is a $100 minimum to open an account with FxPro, the broker suggests putting in at least $500 if you want to use all of the platform’s services.
FxPro Trading Platforms Available
To further understand why global traders use FxPro, let’s examine the specific service they provide.
To begin, the platforms available provide you a choice between the market-leading FxPro MetaTrader4 and the newest edition, FxPro MetaTrader5, both of which are extremely strong pieces of software. Alternately, you may continue using FxPro cTrader, a highly advanced platform, or you could utilize FxPro Edge, a platform that is exclusive to the company, to place spread bets.
Before we get into the specifics of each of the platforms, we will first go over the general conditions that allow a variety of order executions, such as Instant Execution or Market Execution, along with tiered liquidity orders.
Web Platforms from each service may offer a somewhat different selection of financial instruments, a different commission per trade, a lesser spread, or a different stop-out or limit level.
The desktop platform is, of course, downloadable and compatible with any device, and with the desktop version, you get the complete package and all the sophistication that each platform has to offer.
Nonetheless, we may state that automatic trading, the freedom to engage in scalping, the availability of tried-and-true managers and tried-and-true trading techniques, and compliance with all key risk management standards all present enormous opportunities, tools, measures, and additions.
In addition, a VIP package of services is made available to all traders, which includes a variety of benefits such as a cost-free VPS server, the elimination of expenses associated with deposits, SMS notifications of margin levels, and cost-free reports on the latest news.
FxPro’s sophisticated mobile app is another plus, since it allows you to manage your account, move between the demo and live versions of the platform, and conduct basic research and trades on the fly. Everything is doable right from the convenience of your mobile device.
When it comes to CFD and Forex trading, FxPro is a reliable broker that doesn’t put you at too much of a risk. In addition to a wide variety of instruments, the platform also provides reasonable pricing. FxPro broker is often considered the finest Forex broker since it provides competitive spreads and a variety of market execution choices. Furthermore, the platform is highly regulated and provides support in various languages, making it a reliable choice for trading CFDs.