fxpro forex broker

Regulators: FCA, CySEC, FSCA, SCB

Cryptocurrencies: YES

Minimum Deposit: $100

Maximum Leverage: 1:500

Spreads: Low

My Score: 8.7

*Forex trading carries a high level of risk.

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, customer service etc.  Before you open an account with FxPro , you should definitely read this review.

Who is FxPro?

FxPro is one of the best-known forex brokers as a broker with clients all over the world. Founded in 2006, UK-based FxPro is a renowned Forex broker. It has achieved significant success in Forex and has received many awards and now serves investors in more than 170 countries. In addition, FxPro has many licenses. FxPro’s website has more than 1.5 million visits per month and the website serves in 20 different languages.

With the slogan “Trade like a pro”, they state on their website that they are the number 1 broker for forex. Offers investment services with Forex and CFDs with competitive spreads. FxPro offers the highest standards of security for its clients’ funds. The broker provides its clients with strong transparency and stores client funds in major international banks and separates them completely from the company’s own funds.

FxPro Regulation and Investor Protection

Founded in 2006, FxPro currently has clients in 150 countries and offices in the United Kingdom, Cyprus, and the Bahamas. I can say that FxPro’s competition is quite extensive. Having an investor base in many different countries, it is advantageous to work with different regulators. I checked their licenses. FxPro is regulated by 4 different regulators.

FxPro has been regulated by the FCA since 2010. FxPro Financial Services Limited has been authorized and regulated by CySEC since 2007 and FSCA since 2015. FxPro Financial Service Limited is regulated by FSCA. FxPro Global Markets Limited is authorized and regulated by SCB. These are the following:

  • FCA in the UK with registration number 509956
  • CySEC in Cyprus with license number 078/07
  • FSB in South Africa with authorization number 45052
  • SCB in the Bahamas with license no. SIA-F184.

Financial institutions must meet certain requirements and are therefore subject to restrictions and guidelines. Regulation is very important for this reliability. The rules and laws that companies operating in the forex market must comply with are determined by the forex market regulation. The purpose of these rules is to protect you against the risk of loss and fraud, which has not been mentioned or hidden before.

Since the forex market is global, it is very prone to fraud. Some governments and independent organizations audit the forex market according to certain criteria.

Being registered with the regulatory agency and having a license, passing audits, informing customers about service changes, etc. are some of these criteria. That’s why it’s safer to work with licensed forex brokers to protect yourself from fraud. These brokers are subject to constant audits and reviews to meet the requirements.

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.

*Forex trading carries a high level of risk.

fxpro awards

FxPro won 54 awards in the 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.

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.

The maximum leverage is 1:500 under Bahamas regulation. You can trade x500 leverage in this situation.

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 your religious belief or to reject your application.

They don’t offer a dedicated account manager or SMS service. In addition, since the clients you introduce will be under your partnership and you will earn rebates from their trading, then they cannot earn rebates on their own trading.

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 No
cTrader$1001:5000.3 pips +$4.5*Yes

Withdraw and Funding Methods

Funding and withdrawal methods vary according to the regulator.

Trading Platforms

FxPro can be used on both desktop and mobile. It provides services to its customers through MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge. All of these platforms are generally user-friendly and reliable.

You can use these options easily on FxPro:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • FxPro Edge

Demo Accounts

FxPro offers a 30-day Demo account option for both beginner traders to improve themselves and for experienced traders to test their new strategies. However, if no action is taken on the Demo account for 30 days, the account is closed.

Conclusion of FXPRO Review

As a result, what do I think of FxPro? The company has many licenses, so all transactions are very transparent and reliable. It is also one of the best brokers in the Forex market.
Customer service works pretty well and the company has many awards. The software they use is a very reliable and user-friendly software that I recommend. Another advantage is that they offer demo account options.

You can use the following funding methods:

*Forex trading carries a high level of risk.

MethodsProcessing Times
(Deposit)
Processing Times
(Withdrawals)
Fees
(Deposit)
Fees
(Withdrawals)
Min DepositMin Withdrawal
Usually 1 Working Day1 Working DayFREE FREE FREE$100

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

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

Usually within 10 minutes 1 Working DayCredit/Debit cards – 1.6%
UK issued Debit cards – 0%
EU issued Debit cards + Maestro – 0.35%
FREE$100 FREE
Usually within 10 minutes 1 Working Day2.7%FREE$100 FREE
Usually within 10 minutes 1 Working DayFREEFREE$100 FREE
Usually within 10 minutes 1 Working DayFREEFREE$100 FREE
Usually within 10 minutes 1 Working DayFREEFREE$100 FREE

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*Forex trading carries a high level of risk.

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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28 COMMENTS

  1. First broker where I finally have stable profit. Really reliable and safe. There are no restrictions on my EA’s wich are working perfectly. Withdrawal process is always smooth and fast. Highly recommend FxPro.

  2. I have been their client for a couple of years so far. Quite satisfied with services. The platform is user-friendly. Of course, there are minor slippages, but quite expectable for the real market. Withdrawal is not extra fast but they never canceled it.

  3. I’m still a novice in Forex, trading on a demo account, but I’m very happy with FxPro. Thanks to their studying materials and demo I learned a lot about forex trading. Really great website with a lot of useful information, everything easy and clear. I think I will move on to the real account in the nearest future.

  4. My conclusion about FXPro is overall positive. For advanced traders and professionals, this broker is very good to work with. There are a lot of platforms and different account types. Customer service is very competent and works 24 hours in working days. Also, they offer a wide range of trading instruments, for example, they traded more than 60 currency pairs. You also will not have problems with the withdrawals here.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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!

  10. 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.

  11. 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.

  12. 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.

  13. 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.

  14. 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!

  15. 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.

  16. 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.

  17. 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.

  18. 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.

  19. 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.

  20. 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.

  21. 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.

  22. 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.

  23. 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.

  24. 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.

  25. 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.

  26. 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.