In this video we will make FxPro review!
FxPro Review, by Refined Investor
FxPro review – Broker Details
FxPro is a global CFD and forex broker founded in 2006. It is Regulated by the Financial Conduct Authority, (FCA) in UK and the Cyprus Securities and Exchnages Commission, CySEC.
FxPro is an ECN broker, which means it uses an electronic communication network to trade outside the market via a computer system. The company uses this system to provide clients direct access to other participants in the forex market, which means they can sometimes offer users better prices than would otherwise be available to them.
Last The company has won over 70 international and UK awards in the past 15 years, including 10 awards for the best forex broker of the year.
FxPro review – Assets&Markets
Users who hold accounts or thinking to open an account in FXPRO can trade more than various assets across 7 asset classes, but to be more precise those are :
More than 70 currency pairs, with spreads
21 CFDs on Futures from around the world
Popular indices from across Europe, Asia and America
CFDs on thousands of global shares including popular assets in Asia, Africa, Europe and the United States.
Precious Metals such as Gold, Palladium, and Silver
CFD’s on Energies such as Brent Oil, Natural Gas and WTI spot oil.
And Last Cryptocurrencies which include Bitcoin, Ethereum ,Litecoin, Dogecoin and so on.
FxPro review – Account Types
FXPRO offers 5 different type of account but those are based on the trading platform the client will use.
To brake them down by Platform they offer 2 on Metatrader 4, and One on MT5, Ctrader and their own Platform.
Lets have a look on the two MT4 offered account the MT4 Instant versus the Standard MT4.
Both offer the same CFD Instruments, the same trade sized, however when it comes to trading costs The Instant account offer ‘fixed spreads only to 7 major pairs. The last major difference comes to the execution type of those two accounts. While the FXPRO MT4 Instant receives the price the client sees on screen or receive a requote the Standard MT4 has tiered liquidity, as orders are executed at the volume-weighted average price.
Using the Standard MT4 as a base we will check the other 3 account options. The FXPRO MT4 and MT5 are identical with the only difference to be the trade size ont he share and of course the trading platform.
When we compare the MT4 and MT5 with the Ctrader Account we will immediately notice that the Ctrader offers less instruments to trade, as it doesnt support Futures and Shares.
Additionally the fees change as well, the MT4 and MT5 account offer 0 commission on trades but relly on spread while the ctrader account offers Reduced Spread plus $45 per $1 million traded on Forex and MEtals.
Last the FxPRO Platform offers identical conditions of trading as FxPRO Mt4 and MT5.
To mention here that FXPro allows Spread Betting. Spread Betting is a form of derivatives trading, which means you aren’t taking ownership of the underlying asset. You open a position based on whether you think the value of an instrument will rise or fall. If the asset price moves in your favor, you profit, if it goes against you, you incur a loss.
To conclude the account types , the type you will pick is heavily relying on the trading platform of your choice.
To open an account you can check our video on how to create, verify and fund an account on FXpro.
FxPro review – Trading Platforms
FX Pro offers 4 trading platforms, those are their own FXPRo Platform, the well known Metatrader 4 and Metatrader 5 and last but certainly not least Ctrader.
Each platform has its own benefits as we mentioned above. The most noticeable from the comparison chart is that FXPro Platform does not offer a trailing stop which for some traders could be a deal breaker.
Overall though we have to hand it to FXPRo as compared to the competition they offer plenty of platform for their clients to choose from.
If you are not familiar with the platforms mentioned above we have created dedicated videos for MT4 and MT5 for both desktop and mobile. You can find the videos on your screen on the description below.
Additionally on our video we mentioned earlier on creating an account, we have a walkthrough on their native platform as well .
FxPro review – Funding Options
The funding options are depend heavily on the location so starting as they appear the FXPRO UK Ltd allows users to funds their account through a Bank Transfer ,Visa, maestor and mastercard . The withdrawals take about 1 working day to be completed, and there are no fees implemented by FXpro however the corresponding banks could implement their own.
Moving on, the FXxPro Financial services Ltd allows more options which include Paypal, Skrill, Neteller and Union Pay.
Last the FXPRO Global Markets Ltd offers all mentioned earlier except Paypal.
Compare to the other brokers out there they dont offer a lot of funding options, however depends on your location you may get Paypal which is one of the easiest ways to fund your account.
FxPro review – Customer Support
Users can contact customer service via email, phone, and live chat,
The services are available 24 hours a day for 7 days of the week.
Currently, they provide customer support in more than 27 languages.
So let’s have a look at the pros and cons of FxPro.
Starting with the pros:
It is a well Regulated, Broker
Been around for more than 15 years
Offers more than 2000 assets to trade with
Offers 5 different types of accounts based on platforms
Spread betting is an option as well
4 train platforms offered Metatrader 4 / Metatrader 5 / Ctrader and FXPro platfrom
Paypal is accepted but only for certain location
And last they offer 24/7 customer support in multiple languages
On the cons now:
US Clients not allowed
Less attractive pricing compared to the other market leaders
Limited funding options compared to the competition
And last No bonuses or promos offered
Overall FxPro is a well regulated forex broker that has a solid core of clients.