FxPro Review

FxPro International Ratings at a Glance

FxPro Product Offering

As a leading global online CFD broker, FxPro offers a comprehensive range of financial instruments, cutting-edge trading platforms, unparalleled trading analysis and research tools and educational resources. Here's a detailed breakdown of these offerings.

Tradable Assets and Markets

The range of tradable instruments a broker offers is crucial if you seek to explore diverse investment opportunities. FxPro facilitates 24/5 CFD trading across six asset classes and over 2,100 tradable instruments. This comprehensive selection of assets means you can access a broad spectrum of financial markets. The available assets include 70+ currency pairs, covering majors (EUR/USD, GBP/USD, USD/JPY) and minors (AUD/CAD, EUR/AUD, GBP/AUD). FxPro supports share dealing, allowing you to trade or hold positions on 2,000+ stocks listed on exchanges such as the Nasdaq exchange, Nikkei 225 and Dax 30. 

These stocks are typically from top global economies like the U.S., U.K., France and Germany. Up to 19 spot market indices are available for trading. Suppose you're a global trader outside the U.K. In that case, you can trade CFDs on over 18 cryptocurrencies, including coins like Bitcoin, Ethereum and Litecoin. There are 22 futures contracts comprising mainly CFDs on commodities and index futures. Additionally, you can trade CFDs on metals and energies (Brent crude, WTI and natural gas). Benzinga was especially impressed by the available spot metals. 

Besides precious metals like gold, silver, platinum and palladium, the broker lets you trade zinc, aluminum, copper and lead. FxPro also supports spread betting for U.K. traders. In spread betting, investors speculate on the price movements of diverse financial instruments without owning the underlying asset. This is similar to CFDs since you do not own the underlying assets in both cases.  

Their core difference is how profits and losses are treated for tax purposes. With CFDs, profits may be subject to capital gains tax, while spread betting profits are typically tax-free in the U.K. Spread betting has a more straightforward structure; you bet on whether the price of an asset will rise or fall. In contrast, CFD trading involves entering into a contract to exchange an asset's price difference from when the contract is opened to when it is closed. Remember, the specific assets you can access on FxPro depends on your chosen trading platform. 

Trading Platform 

FxPro offers four trading platforms, which makes for flexibility in accessing the financial markets and executing trades based on your preferences. The available choices include the globally recognized MetaTrader suites — MT4/MT5 — the innovative cTrader platform and FxPro Edge, the broker's proprietary platform. 

MT4 and MT5 Platform

The MetaTrader (MT4/MT5) suites are popular and well-known in the financial market. They're the perfect platform for CFD and forex trading because of their robust features and functionalities. MT4 has a beginner-friendly and intuitive interface, making it appealing to newbies and experienced traders. It is the most popular retail trading platform, boasting 50+ trading indicators, 24 analytical charting tools, 3 chart types and 9 timeframes. 

MT5 represents an evolution of MT4 and is ideal for expert traders seeking more powerful trading platforms. It offers 38+ preinstalled technical indicators, 44 analytical charting tools and 21 timeframes. Additionally, it offers detachable charts, depth of market (DoM), integrated economic calendar and additional pending order types — sell stop limit and buy stop limit. Overall, the MT4/MT5 platform promises reliability, fully customizable charting options, multiple order types and advanced analysis.

Both support automated trading via Expert Advisors (EAs), 1-click trading, trading from the charts and trailing stops. They're available on tablets, mobile devices and desktops (Windows or Mac). MT4 WebTrader also lets you trade via the web without downloading the software onto your device. 

The cTrader Platform 

The cTrader delivers one of the most innovative trading experiences in the industry. This feature-rich platform is designed for superior order execution with no dealing desk intervention and ultra-low spread on forex and metals. Besides its range of advanced trading infrastructures, the cTrader platform uses cTID (cTrader ID) login functionality. With this functionality, all your linked accounts are accessible via a single login and settings are synced with your FxPro account. 

Some core features of cTrader include 55+ technical indicators, 6 chart types, 28 timeframes, level 2 DoM (depth of market) and no stop/limit levels restrictions. The platform also boasts custom cBots, news feeds, market sentiments and custom time zones. All other features, including the integrated economic calendar, mirror those of MT5 platforms. The platform is compatible with Mac and portable iOS devices, in addition to Windows desktops.

The FxPro Platform 

The FxPro platform is the broker's proprietary platform and the newest addition to its product offering. This convenient yet feature-rich platform provides an innovative and hassle-free way of accessing the financial markets from your mobile or desktop. This aligns with FxPro's commitment to delivering the best possible trading experience for all traders. The online web platform boasts a highly customizable interface and advanced trading widgets, streamlining access to your FxPro EDGE Accounts directly from your browser. 

It features 50+ technical indicators and charting tools, 6 chart types, 15 timeframes and detachable chart windows. Benzinga considers the FxPro Platform an excellent option if you wish to manage your funds seamlessly and trade FxPro's full range of CFD asset classes directly from the FxPro app without installing additional applications. The comparison table for the platform features is shown below. 

The Mobile Trading Apps

FxPro offers free mobile trading apps for iOS and Android devices. Besides its proprietary mobile app — FxPro Direct, third-party mobile lineups designed by the same providers powering its desktop and web-based platforms are available. These include MetaQuotes' MT4/MT5 mobile apps and Spotware's FxPro cTrader mobile app. These reliable apps grant you access to essential features and functionality like desktop-based platforms. 

You can easily view and interpret historical data, set up signals and alerts, conduct daily technical analysis with the pre-built indicators and stay updated with market developments in real-time. 

Watchlists are highly customizable, and you can create multiple lists. The FxPro Direct offers even more capabilities, including advanced fullscreen TradingView charting for professional market analysis, a highly interactive economic calendar and volatility push notifications. You can set custom stops and limits for position protection and pending orders. Funding via the app is easy, and with the secure FxPro Wallet, you can instantly transfer funds between your trading accounts.

Account Types

FxPro offers flexible live trading account options encompassing FxPro MT4 Instant & Fixed, FxPro MT4, FxPro MT5, FxPro cTrader and FxPro Edge (Spread Betting). All account types feature commission-free trading and robust trading and charting features, except for cTrader, which has low commissions. The FxPro MT4 Instant & Fixed account is a basic trading account ideal for beginner traders. It provides a floating spread for most instruments and a fixed spread on 10 forex pairs. With the FxPro MT4 account, you can trade currency pairs, crypto pairs, futures, market indices, metals and energies. It supports using EAs and offers both floating and fixed spread.

Additionally, traders enjoy instant market execution and leverage for retail FCA is 1:30 max and for PF is up to 1:500. The max general leverage is 1:10000 depending on the regulatory jurisdiction. The FxPro MT5 account is similar to the FxPro MT4 but has a different platform. Its execution could be hedging or netting. Additionally, FxPro MT5 supports a wide range of FxPro's share offerings. It is the ideal platform for trading shares or stock CFDs through this broker. 

The FxPro cTrader offers ultra-raw spreads starting from 0.00 with low commissions on FX and metals and floating spreads on other instruments. It doesn't support shares and futures. The FxPro Edge is a spread betting account exclusive to U.K. traders. It offers a low-floating spread on all instruments. The comparison table for some of the account types is shown below. 

Demo Account

FxPro offers free demos for all account types — FxPro Edge, MT4/MT5 and cTrader. A demo account is essential, especially if you're a beginner, as it lets you practice and master your strategies and get comfortable with the trading platform without risking real money. FxPro's demo account features up to $500,000 in virtual cash and live quotes. It simulates live market conditions in assets, including forex and CFDs on commodities, indices and stocks. You can switch to a live version upon growing your trading confidence.

Additional Trading Tools

FxPro offers algorithmic trading via cTrader. Algorithmic trading uses automatic systems to open positions automatically based on your set conditions and parameters. cTrader Automate is a cutting-edge algo and technical indicator coding solution that lets you create or build algorithmic trading strategies and customizable indicators inside your FxPro cTrader platform. cTrader Automate also boasts robust optimization and backtesting capabilities, enabling you to identify the most influential parameters for your automated strategy. 

FxPro provides a Virtual Private Server (VPS) that lets traders upload and run MT4 EAs and algo bots round-the-clock without keeping the trading terminal running. You don't even need to power your PC. Additionally, FxPro simplifies your ability to perform forex trading calculations thanks to the FxPro Calculator. This feature lets you calculate margin, swap, pip value, profit and cTrader commission in one place, providing a comprehensive overview of your trading performance.

Market Research Tools 

Various excellent research and market insights tools are available in FxPro. Like many brokers, FxPro provides a macroeconomic calendar to track essential releases and updates that can impact the markets. The broker offers daily fundamental research and partners with Trading Central to offer technical analysis. Earnings Calendar and FxPro market news are also available. These tools are of significant importance to stockholders, investors and day traders. FxPro has an advantage over other brokers in multiple areas: its multilingual webinars on the company's YouTube channel and the quality of its real-time news offering. These research tools are accessible even for traders who do not have an account with FxPro.

Educational Resources 

FxPro has an excellent collection of learning resources on its educational page to help beginners learn about online trading, CFDs, finance and other relevant topics. Available topics include basic trading education, fundamental and technical analysis and trading psychology. There are written lessons and videos. The courses are user-friendly, with concise and easily understandable cards guiding you through each section.

FxPro also has an advanced education section for experienced and expert traders seeking to advance their trading knowledge and expertise. The YouTube channel features a concise educational playlist for additional content. FxPro also provides trading tests, which is something only some brokers offer.

BnkPro E-Money and Investment

BnkPro is a robust online investment product offered by FxPro Group Ltd. It grants investors instant access to thousands of stocks and exchange-traded funds (ETFs) across major global markets and exchanges. However, the benefits of these financial services extend beyond equity trading. With the service, you can instantly open current accounts in multiple currencies, send and receive funds globally via wire transfers and spend at leading FX rates worldwide. 

Think of it as a 3-in-1 professional financial product to help you enhance flexibility in digital investment and financial management. The service costs 9.99 pounds per month. However, FxPro offers a 60-day free trial. If you already have an FxPro U.K. account, you can register by logging in using the Pro ID details you use for FxPro Direct. Upon signing up, you can order your exclusive BnkPro Mastercard. 

This card offers many benefits, including seamless withdrawal globally from any ATM, free standard shipping, instant transaction updates and more. You can download the BnkPro mobile app for flexible access on the go. 

FxPro prides itself on its multilingual, highly responsive and dedicated customer service teams, available 24 hours, Monday through Friday. LiveChat and phone support offer the best means for immediate assistance since the live phone support operates in diverse locations, including the U.K., UAE, Cyprus, Monaco and the Bahamas. The U.K. number is toll-free for U.K. residents. You can also request a call back by submitting your contact details or sending an email for non-urgent assistance. Unlike most brokers, FxPro has an easily accessible physical office in London. The reception area is open from 7:30 a.m. to 4:30 p.m. 

An even better way of finding answers to potential questions without contacting support is via the Help Section and FAQ. FxPro also maintains an active presence on X (formerly Twitter), Instagram, Facebook, LinkedIn and YouTube. These platforms present another opportunity to seek assistance and ask questions. However, their contents are mainly news-related rather than specifically for customer support. The company has an excellent Google rating of 4.5/5 from 273 reviewers and a Trustpilot rating of 3.9/5 from 197. The overall sentiment reflected in the comments indicates that the company's product and service offerings are impressive.

FxPro is globally recognized and trusted thanks to its decade of experience, robust security measures and regulatory oversight. The broker is licensed and regulated by financial authorities in multiple jurisdictions. These include the Financial Conduct Authority (FCA) in the U.K., the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa and the Securities Commission of the Bahamas (SCB). FxPro maintains strict compliance standards regarding client fund protection according to its regulatory requirements across these jurisdictions. 

However, you must understand that specific regulatory standards and frameworks vary among the regulatory entities. For instance, U.K. traders are protected under the Financial Services Compensation Scheme (FSCS) and Investors Compensation Scheme. These allow you to claim compensation if the broker becomes insolvent. Additionally, FxPro offers negative balance protection, ensuring you do not lose more than you deposited during widespread market volatility.

The broker stores client's funds in segregated accounts in top financial institutions where traders can readily access or withdraw them when necessary. This process further ensures your funds remain unaffected if the broker fails. To protect users' online trading accounts and data at rest or in traffic across its network, FxPro employs robust encryption protocols. 

The company encourages traders to implement additional security measures, including using strong and varied passwords, enabling two-factor authentication (2FA) and using antivirus and firewalls for enhanced device security. FxPro will not share or sell your personally identifiable information or sensitive data to a third party without your consent except to comply with judicial orders. You can read more about how the company secures your data online and your individual responsibilities via the online security portal. 

FxPro offers affordable fees and low entry barriers. Although the recommended minimum deposit is $1,000, you can start with as little as $100. The company prides itself on its no-desk dealing intervention, which enhances cost savings. FxPro claims it can internally match a significant portion of its order flow because of high trade volumes. As such, it can minimize risks and costs without interfering with orders. All FxPro accounts are commission-free. 

The only exception is the FxPro cTrader account, which charges $35 per $1 million traded on FX pairs and spot metals. However, this account offers ultra-raw spread starting from 0.0 pips. In contrast, the spread for MT4 and MT5 starts from 1.2 and 1.4 pips, respectively. Swap or rollover charges are also applicable for positions held overnight. An inactivity fee of up to $10 applies for an extended inactivity period. The non-trading fees include a 9.99 pound-per-month subscription for BnkPro services and a $30 monthly fee for a VPS subscription. 

FxPro's spreads and fees are competitive and offer excellent value, especially considering the range of trading tools and resources available. You can also engage in margin trading using leverage to boost your position size and capitalize on potential profitable opportunities. For instance, leverage of 1:20 means that with an account of $1,000, you can increase your position size by up to $20,000, which allows you to maximize profits. However, leverages also magnify losses the same way they do profits. 

FxPro's maximum leverage varies among the different regulatory entities. It is 1:30 in FCA and CySEC, 1:2000 in FSCM and 1:200 in SCB (the global entity). The broker offers multiple deposit methods, including bank wires, broker-to-broker transfer, credit/debit card, PayPal, Skrill and Neteller. The acceptable payment method may depend on your jurisdiction. Deposit via bank wires and broker-to-broker transfer may take up to one working day. 

Other deposit options take under 10 minutes. Funds are withdrawn via the same method you used to deposit them. Withdrawal times are typically one working day. FxPro does not charge deposits or withdrawal fees. However, a 2.6% withdrawal fee is applicable if you don't trade with the capital you want to withdraw. You can use the FxPro Wallet to streamline funding and withdrawal. The wallet keeps your funds safe from sudden market movements while also facilitating easy transfer to a trading account. Transferring funds between the FxPro wallet and a trading account is instantaneous and comes at no cost.

FxPro provides a seamless and elevated trading experience for beginners and seasoned traders. Its broad tradable instruments across diverse asset classes means you'll find an asset that suits your trading style. FxPro's multiple trading platforms blend the right features that enhance trading experience on web and mobile platforms. The trading and fees are competitive and affordable, lowering the entry barriers for undercapitalized traders. Account registration and onboarding are fast and hassle-free, including documentation and know-your-customer (KYC) processes.

If you're a beginner, FxPro's demo account can help you backtest your strategies, familiarize yourself with the trading platforms and build the confidence needed to trade live. It mirrors a live trading account but with virtual cash. Additionally, excellent educational resources are readily available to help you navigate the complexities of trading. The highly efficient support team ensures immediate assistance whenever necessary. Overall, FxPro delivers a comprehensive trading experience tailored to individual needs and is highly recommended by Benzinga.

FxPro vs. Competitors

FxPro has a few competitors, including AvaTrade, Pepperstone and Vantage, offering retail investors multi-asset CFD trading. FxPro's 2,100+ tradable assets and low trading cost, including low spread and zero commission on various account types and zero withdrawal and deposit charges, are some of its competitive advantages. Additionally, the broker boasts a comprehensive and intuitive trading platform with sufficient assets and markets to cater to diverse trading preferences. Plus, it offers excellent educational resources and trading and market research tools compared to its competitors. 

If you're a seasoned or beginner trader seeking a reputable online forex trading broker to kickstart your journey, FxPro is an excellent choice. Its multiple trading platforms, including the proprietary FxPro Edge, the cutting-edge cTrader and the globally renowned MT4/MT5 platform, allow you to choose the platform that aligns best with your expertise. The range of tradable instruments across various asset classes is highly impressive. Sufficient educational resources are available to help you navigate CFDs and forex trading complexities. Plus, the broker offers adequate research materials and trading tools to enhance market insight and fast-track decision-making. The trading cost is affordable, the entry barrier is low and the funding fast is without hassle. Benzinga couldn't find any significant downside to this broker. 

Frequently Asked Questions