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$