FxPro Review

FxPro Review

Introduction to FxPro Review

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FxPro is a London-based global broker, specializing in the CFD and Spread Betting market. Since entering the trading business in 2006, it has performed over 250 million orders and was chosen as UK’s most trusted forex brand by Global Brands Magazine in 2017.

Today, FxPro is a highly-regulated broker in several jurisdictions, with offices around the world and €100 million of Tier 1 capital. The firm offers both true Electronic Communication Network (ECN) and access to a dealing desk.

FxPro: Our History

Clients of FxPro may trade six asset classes through MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, while experiencing premium liquidity as well as quality trade execution with No Dealing Desk (NDD) operation.

Account Types

Investors have the option to open one of the three live trading accounts with FxPro, i.e., the FxPro MT4, FxPro MT5, and the FxPro cTrader account.

Each account type trades on the associated platform, and all have the following requirements and features available:

  • Free Demo Account
  • Access to Micro Accounts
  • Access to VIP Services
  • $500 Initial Deposit
  • Swap/rollover charges are incurred when a trade is kept overnight.
  • Tiered Liquidity, Volume-Weighted Average Price (VWAP) Execution
  • NDD Intervention
  • Mobile (iOS and Android) and Web-based Trading Available
  • Leverage up to 1:500

The difference between the three accounts are:

FxPro MT4 Account

  • Fixed Spread is also available
  • EUR/USD Variable Spread is 1.2 for accounts on Market Execution and 1.55 for accounts with Instant Execution
  • Spread mark-up on Forex & Metals
  • No commission on Futures, Shares, Indices, and Cryptocurrencies
  • Instant or Market Order Execution
  • Stop-out from 20%-50%
  • EA-supported Algorithmic Trading
  • Accessible instruments include Forex, Spot Indices, Spot Energies, Spot Metals, Futures, and Shares
  • 1 pip minimum stop/limit level
  • Requotes may include on Instant Execution accounts and no requotes on Market Execution accounts
  • Partial Fills of orders in times of  limited liquidity in Market Execution accounts
  • 24/5 Minors and Exotic trading halted between 10 pm and 10 pm UK time  

FxPro MT5 Account

  • Only Variable Spread (Floating Rate Model) is available
  •  EUR/USD Variable Spread is 1.52 for accounts on Market Execution
  • Spread mark-up on Forex & Metals
  • No commission on Futures, Indices, and Cryptocurrencies
  • Only Market Execution is offered where orders are performed at the VWAP
  • Stop-out from 30%-50%
  • EA-supported Algorithmic Trading
  • Accessible instruments include Forex, Spot Indices, Spot Energies, Spot Metals, and Futures
  • 1 pip minimum stop/limit level
  • No requotes
  • Partial fills of orders in times of  limited liquidity
  • 24/5 Minors and Exotic trading halted between 10 pm and 10 pm UK time

FxPro cTrader Account

  • Only Variable Spread (Floating Rate Model) is available
  • EUR/USD Variable Spread is 0.45 for accounts on Market Execution
  • Trading costs in Forex and Metals is $45 per $1 million traded (upon opening and closing a position)
  • No commission on Indices and Cryptocurrencies
  • Only Market Execution is offered where orders are performed at the VWAP
  • Stop-out from 30%-50%
  • Algorithmic Trading is not EA-supported
  • Accessible instruments include Forex, Spot Indices, Spot Energies, and Spot Metals
  • No minimum stop/limit levels
  • No requotes
  • Partial fills of orders in times of  limited liquidity
  • 24/5 trading halted between 10 pm and 10 pm UK time

In addition to the three accounts, UK-based traders may sign up for FxPro’s Edge account, which enables trading in the form of Spread Betting and features the following benefits:

  • Tax-free2
  • No commission
  • Tight Spreads
  • Accessible instruments include Forex, Shares, Spot Indices, Spot Metals, and Spot Energies
  • Limited Risk Account with no additional charge

Trading Products

FxPro allows CFD trading in more than 200 markets, including Forex, Shares, Spot Indices, Futures, Spot Metals, and Spot Energies.

Forex

  • FxPro enables market participants to trade over 70 major, minor, and exotic currency pairs.
  • Forex traders can also benefit from tight spreads and high-speed order execution.
  • Some popular currencies available in the platform include CAD/CHF, EUR/USD, EUR/CHF, CAD/JPY, and EUR/JPY.

Futures

  • Traders may access 20 Futures, including 12 agricultural commodities, 3 energy futures, and indices.
  •  FxPro offers CFD trading on Futures from markets such as cocoa, Dow Jones 30, natural gas, and more.

Spot Indices

  • FxPro covers 24 Spot Indices from across the US, Europe, and Asia.
  • Some of the highly-traded indices catered by the platform include the NASDAQ 100 index, DAX 30, Nikkei 225, and more.

Shares & Stocks

  • The platform offers the opportunity to trade CFDs on Shares of more than 150 global companies, and experience the advantage of  fast order execution as well as dividend payments on long positions.
  • Investment opportunities are available in Shares of some of the well-known companies, like Apple Inc., Coca Cola Company, and Amazon.com Inc.

Spot Metals

  • Traders are given access to trade 7 Spot Metals in the FxPro platform.
  • Spot Metals available for trading include gold, platinum, and silver.
  • FxPro also makes sure that clients’ orders are carried out with the right and competitive prices.

Spot Energies

  • Market participants on FxPro may invest in Spot Energies, including Brent oil, West Texas Intermediate (WTI) crude oil, and Natural Gas.
  • Spot Energies are available on all of the firm’s platform, i.e., MT4, MT5, and cTrader.

Cryptocurrencies

  • FxPro Cryptocurrencies offerings cover a number of market pairings with the USD, including Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum.
  • Maximum leverage allowed on these digital currencies is 1:2.   

FxPro Trading Conditions

The following will discuss the trading conditions that potential clients could face once they’d registered with FxPro.

Execution Speed

  • The average execution time on the FxPro platform is less than 11.06 ms.
  • This broker also doesn’t often encounter slippage, although it happens from time to time.

Leverage

  • While FxPro’s leverage level of up to 1:500 is considered relatively high, there are still other brokers whose leverage are up to 1:500 and higher.
  •  To minimize the risk involved with such leverage levels, FxPro employs a forex leverage model on the MT4 and MT5 platforms, which automatically adjusts to clients’ trading positions.

Spreads

  • The company has a competitive spread structure, as well as a fixed spread offering.

Traders of FxPro can expect a substantial expansion of spreads on news reports that hold great market impact, such as non-farm payrolls, UK inflation data, and more.

Conclusion – Is FxPro good?

Despite a few differing  opinions, most see FxPro to be a good fit for any kinds of traders, due to its selection of orders and account types, as well as its execution and pricing models, which offer instant execution and floating or fixed spreads.

FxPro: 1,300,000 client accounts, 70+ international awards, 5 star customer service, 4 industry regulations

The firm’s suite of platform offerings, which includes the MT4, MT5, and cTrader, also adds to the FxPro’s value proposition to clients.  

Moreover, for those who values reputation and credibility, FxPro got those two qualities backed up by the fact that it has been authorized by some of the respected financial regulators in the industry, making this broker safe to trade with.

FX Pro infographics

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