As one of the leading brokers, FxPro offers competitive pricing, a wide range of trading platforms, and over 250 instruments to trade. But is FxPro really all it’s cracked up to be?
You want the full scoop before you hand over your hard-earned cash to a broker. Well, you’ve come to the right place. In this review, we’ll give you the unfiltered truth about FxPro.
We’ll try to share their account options, trading platforms, fees, regulations, and more. By the end, you’ll know if FxPro is the right broker for your needs. So, let’s get into this article.
Trading Platforms Offered by FxPro
FxPro offers several powerful trading platforms for forex and CFD trading. Their platforms are available on desktop, web, and mobile so you can trade whenever and wherever.
FxPro’s flagship platform is the MetaTrader 4 (MT4). This popular platform is full of tools for advanced charting, trading automation, and backtesting strategies. The MT4 is highly customizable so you can create the perfect setup for your trading needs.
For those wanting an easy-to-use platform, FxPro also offers the MT4 Supreme Edition. This stripped-down version of the MT4 is simple to navigate but still provides access to FxPro’s full range of markets.
The cTrader platform is geared more toward professional traders. It features level II pricing, detachable charts, and algorithmic trading tools. cTrader is available for desktop and web with a mobile app for monitoring your positions on the go.
Whether you’re an experienced trader looking for a feature-rich platform or a beginner wanting an intuitive interface, FxPro has you covered with its range of powerful and innovative trading platforms. With access to forex, shares, indices, futures, and more, you’ll have plenty of opportunities to put these platforms to good use.
Account Types and Spreads at FxPro
FxPro offers several account types depending on your needs and trading experience. For beginners, the Demo account is a great way to get familiar with FxPro’s platforms and test strategies without risking real money.
Once you’re ready, the Standard account has tight spreads and no commissions, ideal for casual traders. The Premium account provides even lower spreads from 0.4 pips and a personal account manager. For high-volume traders, the VIP account offers the best value with spreads as low as 0.1 pips and a customized trading experience.
No matter which account you choose, FxPro doesn’t charge any deposit or withdrawal fees. They accept major payment methods like bank wire, credit/debit cards, Neteller, and Skrill.
FxPro is regulated in the UK and Cyprus, adhering to strict financial standards to protect your funds. They also participate in an investor compensation fund that insures up to $500,000 per client in the unlikely event of default.
Overall, FxPro aims to provide a high-quality trading environment for traders of all experience levels. Their tight spreads, multiple platforms, and account types, and strong regulation are appealing to both new and seasoned forex traders. Why not open a risk-free demo account and see for yourself? FxPro could be the broker you’ve been looking for.
Is This Broker Right for You?
So, is FxPro the right broker for you? That depends on your needs and trading style. Here are some things to consider:
FxPro appeals to active traders who want access to major and minor currency pairs, as well as CFDs on stocks, indices, metals, and energies. If you’re an active day trader looking for a lot of assets and low spreads, FxPro could be a great fit.
However, if you’re a casual trader just looking to speculate on the markets occasionally, the fees and spreads at FxPro may be higher than you want. Their inactivity fees kick in after just 3 months of no trading, and spreads tend to be wider for smaller account balances.
FxPro also offers cTrader and MetaTrader platforms which are popular for automated trading. So, if you want to do algorithmic trading or use expert advisors, the broker supports that. But, if you prefer a simple web-based platform, the options are more limited.
Overall, FxPro is a reputable broker with over a decade of experience. But whether it’s the right choice comes down to how much and how often you want to trade. For active and high-volume traders, FxPro provides a lot of tools and a wide range of markets to meet your needs. For casual or infrequent traders, the fees may outweigh the benefits compared to a more basic broker.
Pros and Cons of FxPro
When using FxPro, there are some key pros and cons to consider. Here are the pros and cons:
Pros
FxPro is a reputable, regulated broker. They are authorized and regulated by several top-tier financial authorities, including the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Your funds and information will be secure with FxPro.
They offer competitive spreads and commissions. FxPro’s spreads start from 0.6 pips on major currency pairs, which is lower than average. They also have a premium account with even lower spreads.
FxPro provides access to a wide range of markets. You can trade forex, shares, indices, futures, spot metals, and cryptocurrencies all from one account.
Cons
The minimum deposit to open an account is $100, which is higher than some other brokers. This could be a barrier for new traders with limited capital.
FxPro charges inactivity fees. If you don’t place any trades for 180 days, FxPro will charge you a monthly inactivity fee. This could eat into your profits if you’re not actively trading.
Final Thought
FxPro is a reputable online trading platform with a strong regulatory framework, a wide range of trading instruments, multiple trading platforms, and a commitment to client safety.
Whether you are a beginner or an experienced trader, FxPro provides the tools, resources, and features necessary to engage in the global financial markets. However, like any trading endeavor, it is important to conduct thorough research, understand the risks involved, and practice responsible trading strategies.
