fxpro forex broker

Regulators: FCA, CySEC, DFSA, FSB, SCB

Cryptocurrencies: YES

Minimum Deposit: $100

Maximum Leverage: 1:500

Spreads: Low

My Score: 8.7

Founded in 2006, FxPro has grown into one of the most known forex brokers in the world and currently serves traders in more than 150 countries. This review will be based on advantages and disadvantages of FxPro such as FxPro spreads, minimum deposit, account types, demo accounts, its platforms and tools, bonuses, customer service etc.  Before you open an account with FxPro , you should definitely read this review.

FxPro is one of the best known forex brokers as a broker with clients all over the world. The company has clients from many countries in the world. FxPro’s website has more than 1.5 million visits per month and the website serves in 20 different languages.

FxPro Regulation and Investor Protection

Founded in 2006, FxPro currently has clients in 150 countries and offices in United Kingdom, Cyprus, Dubai and Bahamas. I can say that FxPro’s competition are quite extensive. Having an investor base in many different countrie.s, it is advantageous to work with different regulators. I checked their licenses. FxPro is regulated by 5 different regulators. These are the following:

  • FCA in the UK with registration number 509956
  • CySEC in Cyprus with licence number 078/07
  • DFSA in Dubai with reference no. F003333
  • FSB in the South Africa with authorisation number 45052
  • SCB in the Bahamas with license no. SIA-F184.

Many traders are wondering why they are licensed from countries like Bahamas or South Africa. Is not the FCA license already reliable enough? That’s why FxPro wants to compete internationally. For example; traders in some countries are accustomed to using bonuses when trading forex. Therefore, they prefer forex brokers that offer forex bonuses. However, when it comes to FCA regulated forex brokers, many types of promotions are prohibited. In this case, the company can not make bonus campaigns for these traders. To overcome this obstacle, the companies are licensed from countries such as Vanuatu, Bahamas.

In addition to these, thanks to innovations and quality service, the company has received more than 50 awards in the last 3 years. You can see some awards below.

fxpro awards

FxPro won 54 awards in last 3 years.FxPro works with over 12 liquidity providers and some of them are well-known banks such as Barclays, Bank of America, RBS, EMIRATES NBD. I can say it is a reliable broker for those who are worried that FxPro is scam or not.

FxPro Spreads and Account Types

There are various types of accounts in FxPro . In general, the features of the account vary according to the platform you choose.

If you choose Meta Trader 4 platform, you can use both fixed and floating spreads.  Also, EAs (expert advisors) are supported in these account types.

If you choose the cTrader platform, you can only use floating spreads, not fixed spreads. In this account type, cTrader robots are supported through cAlgo.

As an alternative, you can choose FxPro Markets Platform. However, you can not use fixed spreads on this platform, and expert advisors are not supported.

On all these platforms you can use leverage up to 1: 500. The maximum leverage is 1: 500.

In addition to these account types, FxPro also offers a swap free Islamic account option for Muslim traders. Muslim traders need to apply for this via email. The company has the right to request you to document of your religious belief or to reject your application.

At the same time, FxPro also offers a VIP account for clients with high trading volumes. Clients using the VIP account do not pay deposit or withdrawal fees and benefit from the dedicated account manager service. They can also use the free VPS service and take margin level alerts via email and SMS.

FxPro spreads are quite advantageous and competitive. For example; many brokers offer 2 pips for EURUSD in fixed spread accounts while FxPro offers 1.6 pips. That’s $ 4 more profit per lot. In floating spread accounts, 1,4 pips for EURUSD at MT4/MT5 accounts.

You can look at the features of the different account types in the table below.

Account type/PlatformMinimum depositMaximum leverageSpreads & CommissionsSwap-Free
MT4

 
$100

 
1:500

 
fixed 1.6 pips

variable 1.4 pips
Yes
MT5$1001:500Average 1.4 pips Yes
cTrader$1001:5000.3 pips +$4.5*Yes
FXPRO Markets$1001:500Average 1.2Yes

FxPro Withdraw and Funding Methods

Funding and withdrawal methods vary according to the regulator. You can use the following funding methods:

MethodsProcessing Times
(Deposit)
Processing Times
(Withdrawals)
Fees
(Deposit)
Fees
(Withdrawals)
Min DepositMin Withdrawal
Usually 1 Working Day1 Working DayFREEFREEFREE$50

Usually within 10 minutes1 Working DayCredit/Debit cards – 1.6%
UK issued Debit cards – 0%
EU issued Debit cards + Maestro – 0.35%
FREE$100FREE
Usually within 10 minutes1 Working Day2.7%FREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
MethodsProcessing Times
(Deposit)
Processing Times
(Withdrawals)
Fees
(Deposit)
Fees
(Withdrawals)
Min DepositMin Withdrawal
Usually 1 Working Day1 Working DayFREEFREEFREE$50

Usually within 10 minutes1 Working DayCredit/Debit cards – 1.6%
UK issued Debit cards – 0%
EU issued Debit cards + Maestro – 0.35%
FREE$100FREE
MethodsProcessing Times
(Deposit)
Processing Times
(Withdrawals)
Fees
(Deposit)
Fees
(Withdrawals)
Min DepositMin Withdrawal
Usually 1 Working Day1 Working DayFREEFREEFREE$50

Usually within 10 minutes1 Working DayCredit/Debit cards – 1.6%
UK issued Debit cards – 0%
EU issued Debit cards + Maestro – 0.35%
FREE$100FREE
Usually within 10 minutes1 Working Day2.7%FREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
MethodsProcessing Times
(Deposit)
Processing Times
(Withdrawals)
Fees
(Deposit)
Fees
(Withdrawals)
Min DepositMin Withdrawal
Usually 1 Working Day1 Working DayFREEFREEFREE$50

Usually within 10 minutes1 Working DayCredit/Debit cards – 1.6%
UK issued Debit cards – 0%
EU issued Debit cards + Maestro – 0.35%
FREE$100FREE
Usually within 10 minutes1 Working Day2.7%FREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE
Usually within 10 minutes1 Working DayFREEFREE$100FREE

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FXPRO

8.7

Trust

9.0/10

Commissions and fees

8.5/10

Customer Service

8.5/10

Platform & Tools

9.0/10

Product Portfolio

8.5/10

Pros

  • Strong regulation with 5 different regulator include FCA
  • Negative Balance Protection
  • Tight spreads
  • Multiple trading platforms offered
  • 50+ awards

Cons

  • Minimum deposit is 100$

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22 COMMENTS

  1. I’m very happy with FxPro so far. Support works 24\5. All applications are easy and convenient to trade. The platform is perfect. Highly recommend this broker.

  2. I’m not a novice on Forex and I prefer regulated brokers with a good reputation. FxPro takes responsibility for payouts, my first withdrawal took 2 days. Sometimes it happens in a couple of hours. It depends on the payment method you choose. Terms for trading here are more than adequate, excellent technical support.

  3. I am trading with FxPro for half a year. Great customer service, tight spreads, didn’t have to wait for withdrawal. The procedure takes about 1-2 days from the date of request.

  4. Very good company to trade. I am client of fxpro since last year and I know that I wouldn’t change this broker for any other one. The trading platform works well. I make my deposits and withdrawals by wire transfer directly to my personal bank account and it only takes 1-2 days.

  5. So far I really satisfied with this broker. I chose it 3 years ago and I didn’t have any problems neither with withdrawals nor trading process. Everything works properly!

  6. I got an account with fxpro. The first impression is positive. Execution is very fast and convenient for scalping. No requotes and there are no large slippages. Never had issues with trading like freezing chart or other technical problems. Spread is quite small. Deposits/withdrawals without delays.

  7. This is big international forex broker. Fxpro is a member of the ICF (Investor’s Compensation Fund) in Cyprus and it means that the funds are insured. Also, they offer negative balance protection and you never lose more than you have on the deposit. This fact was actually the main for me when I looked for a good reliable broker. Trading conditions are almost perfect.

  8. Been trying demo account for a few months before starting live trading here. Registration and verification were fast and easy. I adapted to the platform quite well to this time. No questions to the connection and execution. Everything is transparent. Convenient deposit and withdrawal system.

  9. In my opinion FxPro is good broker! Their support team rocks! Really help me so much. And they provide great webinars both for newbies and more advanced traders. Good range of trading instruments and very competitive spread.

  10. One of the most well-known brokerage companies, I work with them for a several years and never had any issues with the withdrawals, execution, server connection or another technical problems. Trustworthy and recommended broker!

  11. I am a novice, but it seems like FXPRO is a pretty good company. Convenient personal cabinet, large selection of trading tools, algorithmic trading is allowed. Also they offer good education.

  12. I’m completely satisfied with my Fxpro experience. Especially after my first successful withdrawal. It is the first broker where I have no problems. The platform is very easy to use. Also they provide good spreads and wide range of trading tools.

  13. The service is really good. Fxpro offers modern and fast platforms. And they often withdraw the profit. If you are looking for a trustworthy broker, I think I Fxpro is the right choice.

  14. Awesome and transparent broker. Traded with them for over 3 years, never had problems. They offer good spreads, convenient and fast platform, smooth transactions and good analytics. Client support is also at the highest level. No problems at all.

  15. I have been trading here for several years. I have no serious problems yet. Sometimes I have questions about the execution, but in general, everything is fine, compared to the various scam brokers fxpro is a paradise for the trader.

  16. I have a pretty nice experience with fxpro, everything goes well. Tradings run smoothly. Quite easy and fast registration, deposit and withdrawal process. Fast order execution.

  17. You need to know first what kind of trader you r…..I used to trade with FxPro under SCB, I have no complain under SCB, but since I stay in Dubai I want to transfer to FxPro Mena for easy withdrawal, but I have no idea that thers a difference between the 2? with an account of 300 I can only place one trade under FxPro mena, but under SCB I can place several trades aslong as the account can handle it. What I am saying is, if you are a fixed trader or a floating ….u better research first which broker u want to signup. If you are a risk taker just like me, u can go for Fxpro SCB, if you want a fixed and move slow U can choose FxPro Mena. I have no idea about FCA and Cysec, but iv tride the Mena and SCB, thers a big big difference. Now im back to FxPro SCB. Sorry, english here is not that good.

  18. I started with FxPro couple of months ago and I am astonished by their flexibility, quick deposit and withdrawal and customer support. Maybe it is a little bit early to make conclusion but I would certainly recommend FxPro to any trader.

  19. About 7 months ago I opened an account with FXPro. Execution time is pretty fast. Whenever I want to withdraw profit, they send my money the same day.

  20. I have been trading in this broker for 2 years. I did not have a problem depositing and withdrawing money. Especially when I use debit card as a withdrawal method I can withdraw money very quickly. good broker with good conditions.

  21. This broker is very professional and support desk is so helpful. They dont hvae many account types and spreads are relative high but they are trustworthy and good services.

  22. I have been trading trading for about 6 years. During this period I changed the brokers continuously, so the types of forex account I used changed constantly. I did not research any other brokers after I opened an account with Fxpro. Customer support is very good.