- Country: UK, Cyprus.
- Regulation: FCA, CySEC.
- Broker Type: ECN.
- Products: Forex, CFDs on metals, stocks and futures.
- Minimum deposit: 500 USD
- Deposit methods: transfer, card, Paypal, Skrill, Webmoney and more.
- Spreads: Minimum of 0 in EURUSD on cTrader. 1 on MT4
- Commission: $ 45 per million on cTrader
- Platforms: Metatrader 4 and 5, cTrader ..
What is FxPro?
FxPro is one of the forex brokers with the best reputation in recent years, due to its commitment to seek the best conditions in the operations of its clients by adopting an ECN trading system, in which FxPro acts as an intermediary. without possible conflict of interest. Question that they emphasize very clearly on their website.
Likewise, FxPro is not a broker that offers incredible bonuses or earnings announcements to attract clients, which is appreciated.
Many brokers use aggressive bonus campaigns and exaggerated ads to attract clients that in the vast majority of cases lose their money.
Trading is one of the most difficult activities in the world. Difficult in terms of making money in the long run. And FxPro at least gives us to understand it like this. Question that is appreciated.
In this sense, this broker is on the right track.
Click here and open an account from 5 USD with one of the best brokers on the market
On the other hand, many people will sound familiar with having seen these badges, since FxPro is a broker very committed to sponsoring the sport, having sponsored several soccer teams such as Aston Villa, Monaco and Fulhan. He has also been a sponsor of Formula 1 and more sports.
He currently sponsors the McLaren Formula 1 team and Watford of the English Premier.
Security of funds with FxPro
Regarding security and regulation, FxPro is one of the brokers that offer us the most guarantee in the sector, since it is regulated by the British FCA (509956) and the CySec of Cyprus. In its English regulation, FxPro is a member of the FSCS (Financial Services Compensation Plan), its clients being covered up to GBP 50,000.
In Cyprus protection falls on the ICF.
FxPro is also under the European financial regulation umbrella MiFID .
FxPro’s offices are in Monaco, Cyprus and London, with the English headquarters of the group.
Open account with FxPro
Opening an account with FxPro is easy.
We enter our data on your website.
Likewise, FxPro offers comprehensive customer service in Spanish.
Client accounts are deposited with Barclays, Credit Suisse and Royal Bank of Scotland.
One of the best things this broker has done has been the recent declaration of protection of negative balances against clients who have lost more than the initial amount deposited, something that, although not usual, can happen in the derivative markets.
Accounts can be opened in USD, EUR, GBP, CHF, JPY, AUD and PLN. The minimum deposit is 500 USD for Metatrader and 1,000 for the cTrader, where we will have great forex conditions.
Training and education with FxPro
FxPro develops numerous web webinars per week, which can be seen on the broker’s same youtube channel.
Likewise, FxPro conducts numerous and constant face-to-face seminars in all countries of the world.
FxPro has many trading tools such as the economic calendar, the calculators, the price panel and a mobile application.
FxPro has partnered with Trading Central, one of the world’s best-known providers of Technical Analysis.
Likewise, FxPro is associated with Autochartist, another of the great players in the Technical Analysis market.
With this broker it is possible to carry out algorithmic trading strategies using the FxPro Quant system, without the need to know programming.
FxPro’s specialty is currencies but it also offers trading in spot CFDs on metals and stocks.
It also offers selected commodity futures CFDs and indices.
The platforms are MetaTrader 4, MetaTrader 5 and cTrader.
In the first, you can trade forex, metals, futures at $ 10 a lot and shares.
In MT5 forex, metals and futures.
And in the forex and metals cTrader.
There is no trading intervention on any of the platforms. They all follow an ECN model . The spreads are therefore variable, and in the cTrader there will be trading commissions of $ 45 for every million dollars.
Metatrader 4 and 5 accounts will operate without extra commissions to the spread.
Let’s see the typical trading conditions:
|Medium spreads||MT4 Market||MT5||cTrader|
Up to 150 of the world’s largest stocks can be traded in the United States and Europe.
The minimum trading size is 10 shares.
In this case there will also be no commissions other than the spread.
Stock conditions are quite good with spreads ranging from 0.1% of the asset’s price to 0.3, depending on the value.
Leverage with FxPro
Leverage will range from 500: 1 on FxPro Global Markets to 30: 1 on service in Europe.
In July 2018, a new maximum leverage began to be applied to traders residing in Europe by ESMA regulations. The same, which applies to Forex products and CFDs we have it in the following table:
|Main Forex pairs||30: 1 or 3.33% margin|
|Main indices, gold and minor Forex pairs||20: 1 or 5% margin|
|Lower indices, commodities and exotic Forex pairs||10: 1 or 10% margin|
|Actions||5: 1 or 20% margin|
|Cryptocurrencies||2: 1 or 50% margin|
FxPro is one of the brokers that offer a greater variety in the services offered to clients.
It not only offers the possibility of doing classic trading and demo accounts, but also offers:
- Investment Accounts : this encompasses the typical FxPro accounts that are those of Metatrader 4, 5 and cTrader and that are aimed at retail clients.
- Demo accounts.
- FxPro Prime . FxPro Institutional Service where forex special clients and large accounts can operate. Oriented to institutional clients.
FxPro is undoubtedly one of the best options for forex at the moment.
This is one of the leading brokers in the world Forex market, so the number of clients it has is very large, including clients in the Spanish-speaking area.
We can find numerous opinions of it in the most popular trading and investment sites in the network such as: rankia, x-trader, elitetrader , forex factory , trade2win, etc.
On trustpilot you also have quite a few opinions with over 50% with the highest rating.
In 2018 we have several for all tastes, such as:
- This broker is a joke
- Quick and delayed cash withdrawals
- Very good broker
On Reddit it also has some reviews but most from a year or more (2017) ago.
Is FxPro legit?
Some of them show that they are quite naive because they ask if they are a regulated and legit broker. And we already know that it is a fully regulated broker, also in the United Kingdom, the most prestigious regulator in the world.
Like all other brokers in the sector, it has complaints, detractors and defenders, but on average it is one of the least complaints.
Trading conditions are quite good, and so is the commitment to the client.
For example, it has good conditions on the IBEX 35, with a spread of around 5 points.
On the DAX and other indices, the typical spread is 0.8, even though we wrote down 1.1 which is the average for the entire day.
In stock CFDs, highlight, for example, Amazon, which has very good conditions. The only thing here is that the minimum contract is 10 shares of it, and we already know that it is quoted at a very high price.
As for other markets, FxPro has not yet opted for cryptocurrencies.