A Review of FxPro – The One-Stop Solution for CFD Trading

(You invest at your own risk)

FxPro is not only one of the leading forex brokers in the world but also one of the top CFD brokers in the industry. They have been active since 2006, and over the years FxPro has proved that they have what it takes to offer a stable product to everyone looking to trade forex and CFD.

In addition to offering the world’s leading currency pairs, FxPro also provides CFDs on stocks, indices, futures, and selected commodities.

Are you looking for a broker to trade CFDs and forex with? Then FxPro might be the solution.

Create account at FxPro

 

Is FxPro a scam?

No, we are confident that FxPro is not a scam and we have a few reasons why we are so confident.

First and foremost, FxPro is regulated and authorized by the financial authorities in the UK (FCA) and in Cyprus (CySEC), as well as a few other countries, including the United Arab Emirates and South Africa. Secondly, they’ve been in business for more than 11 years, and they have served a massive amount of customers over the years, while mostly generating positive reviews. Lastly, FxPro is one of the most awarded brokers in the industry and just last year in 2016 they were awarded the title of “Best Forex Provider.”

In other words, FxPro has all the characteristics of a trustworthy day trading service. We also really like their product, and we have used and tested most of the services online which means we are quite hard to please.

FxPro Trading Platform

Instead of developing a proprietary platform, FxPro has decided to offer a combination of platforms developed by a third-party provider. Their main platform is called MetaTrader 4 (MT4) and it has been the leading platform for years. However, FxPro also offers a platform developed for browsers, a mobile platform for mobile devices, as well as the MetaTrader 5.

MetaTrader 4 is a well-known and popular platform that can be used for different markets and assets. It can also be adjusted to fit a broker’s product and a trader’s specific trading needs. MT4 is used by the majority of leading brokers, and it is a platform that you will end up using at some point or another. To get started using MT4, you first need to download it to your computer.

WebTrader is the web-based version of MetaTrader 4. Compared to MT4, the features are limited and it only lets you do simple trades and analytic work. WebTrader is a useful tool that lets you keep an eye on your investments when you don’t have access to your own computer.

Due to its name, many people assume that this is an upgraded version of the MetaTrader 4, but that is not the case. Instead, MT5 is supposed to be a complement to the MT4, providing functions and tools that MT4 lacks. The idea is that you use the two platforms side by side.

FxPro on Your Mobile Device

To use FxPro on your smartphone or tablet, you need to download the trading app called MT4 Mobile. The mobile platform is a limited version of MT4 similar to the WebTrader, but it is a useful tool since it lets you trade on the go. The app is available for Android and iOS devices.

FxPro’s Different Trading Accounts

FxPro has opted for one of the most common account systems for their customers. They offer a regular trading account, a demo account, and a premium VIP account. It’s a simple system that fits most traders.

Demo Account
FxPro’s demo account is completely free and it gives you access to a never-ending pool of virtual money. However, the demo account is not available for all assets but only the most popular currency pairs, including USD, EUR, GBP, ZAR, etc. With a FxPro demo account, you get the perfect opportunity to trade currencies without risk but with real market conditions.

Create a Demo Account
Trading Account
FxPro’s trading account is the traditional account used to trade forex and CFDs with real money. With a FxPro trading account, you gain access to all of FxPro’s platform and analytical tools. This account was developed for traders with a small to medium turnover.

Create a Trading Account
VIP Account
The VIP account, also called the Premium Account, was developed for traders with big budgets and high turnovers. To open the account you need to deposit $50,000. For that price, you get several exclusive offers including free deposits and withdrawals, a dedicated account manager, and invites to exclusive events.

Create a VIP Account

FxPro Financial Instruments and Assets

As the name proposes, FxPro is a broker that focuses on currency trading (Forex/FX). But unlike other pure forex traders such as Markets.com that works with the actual forex market, FxPro provides currencies as CFDs.

  • CFDs – are an alternative form of investment where your job is to try and predict what will happen to the price of an underlying asset. Instead of buying securities, you speculate on the value of an asset through a contract. You can learn more about CFD trading in the section of our website called CFD. In that particular section, we go into detail about how CFD trading works, what brokers are best to use, etc.
  • Futures – FxPro also offers futures on agricultural commodities, indices, and other underlying assets. All futures trading on FxPro’s platform is completely free and can be done with dynamic leverage.
  • Indices – You can invest in collections of some of the world’s leading companies by buying indices as CFDs with FxPro. Right now you can choose between 29 different spot indices.
  • Stocks – FxPro offers the possibility to trade stocks as CFDs. Some of the biggest companies are represented in their selection including Apple, Google, and Twitter. You can also trade on different stock exchanges from around the world, for example in Germany and France.
  • Metals – When it comes to commodities, FxPro focuses on metals, meaning you can trade gold, silver, and platinum with tight spreads, flexible leverage, and some of the industry’s most competitive prices.
  • Energy – This is the second group of commodities that FxPro provides their customers with. You can trade with crude oil, natural gas, and several more. It is a great way to invest your money in one of the most lucrative markets.
  • Forex – At the time of writing, FxPro offers a selection of 70 currency pairs with both fixed and floating spreads. 70 pairs might not sound like much but we promise you that there is something here for everyone. For example, you can trade with large currencies such as the American dollar (USD), the euro (EUR), the British pound sterling (GBP), and Japanese yen (JPY). On top of that, you can also trade smaller currencies such as the Swedish krona (SEK), Norwegian krone (NOK), and South African rand (ZAR).

FxPro is also proud to offer what they themselves call, the industry’s “highest spreads” and leverage up to 1:500 – which is higher than we’ve seen with most brokers. Just don’t forget that leverage is associated with higher risk and they need to be used carefully.

FxPro License and Regulation

Just like all reliable brokers that we recommend, FxPro has all the necessary licenses to offer financial services in Europe and other regions of the world. FxPro’s main license is from the UK’s financial authority (FCA) under license number 509956. They are also regulated by CySEC under license number 078/08.

Additionally, FxPro has a license from FSB in South Africa (no. 45052), SCB in the Bahamas, and DFSA in Dubai (no. F00333).

Deposits and Withdrawals with FxPro

FxPro provides a large selection of payment methods that you can use to deposit money into your trading account. In addition to the major payment methods, FxPro also offers a couple of unique and local options. The following methods are available at the moment. Please note that not all of these options are available to everyone.

Traditional Payment Methods:

  • Bank Transfer
  • Credit and debit cards (Visa, Visa Electron, MasterCard, Maestro)
  • PayPal
  • Skrill
  • Neteller
  • China UnionPay
  • mPay
  • Moneta

Local Payment Methods:

  • FasaPay (only in Indonesia)
  • Webmoney (only in Russia)
  • Boleto (only in Brazil)
  • Netbanx (for Chinese customers residing outside of China)
  • eProtection (only in Japan)

FxPro’s Customer Service

FxPro’s customer’s service is exceptionally professional, but we wouldn’t expect anything less than that from a leading broker. You can contact them through a callback option, by live chat, or by email. And as we mentioned earlier, all VIP customers get access to a dedicated account manager 24/7.

Additionally, FxPro has a huge library with educational material and answers to the most common questions. We recommend that you start by reading through their FAQ if you encounter a problem since chances are that someone else has had the same issue as you in the past. It is normally the quickest way to get help

COMMENTS

WORDPRESS: 1
  • comment-avatar

    I signed up with them because of their reliability. It’s good to know that your brokerage is regulated and have a lot of rewards in the industry.