FxPro – Forex broker review. Why do 10% of all traders in the world trade here? Pros and cons of the broker

Forex broker FxPro was founded in 2006 and since then has gained the trust of a huge number of brokers around the world; more than 5 million traders from 170 countries use their services. The main counterparties are Barclays, RBS, Citi Bank, and the list of regular partners includes McLaren F1, BMW Sauber F1, AS Monaco F1, Australia Super Rugby, Aston Villa football club, Yacht Club de Monaco and many others.

What is the phenomenon of success and popularity of FxPro? For many, this site has become the main one in their type of activity, and whether it is suitable for you, I am sure this review will help answer this question. Begin.

Register for free with broker FxPro

Contents:

• Registration with Forex broker FxPro - official website https://fxpro.com
• Account verification
• Advantages and disadvantages of forex broker FxPro
• Reliability of the broker, who is regulated?
• Trading platforms at broker FxPro
• Account types and trading tools of Forex broker FxPro
• What accounts does the broker offer?
• Tools of the trade
• PAMM account. What is it and how to make money from it
• How to open an account with FxPro
• Commissions for transactions with the FxPro broker
• Depositing and withdrawing funds from the Forex broker FxPro
• Top up your account with Forex broker FxPro
• Withdrawing funds from the FxPro broker
• Analytics and learning
• Trading Central - daily analysis of available assets
• FxPro broker on a mobile device. Application for iOS and Android
• Affiliate program of Forex broker FxPro. How to earn passive income?
• Contact information
• Conclusion
• Frequently asked questions

Registration with Forex broker FxPro - official website https://fxpro.com

To register, first of all you need to go to the official website https://fxpro.com

You need to enter your email and password. Next you will be asked to enter your first name, last name and date of birth. Registration ends here. Quite fast and convenient.

After registration, we always recommend that you immediately go through identity verification. This is necessary to activate your trading account and gain access to all the features of the platform. Different brokers may often have difficulty completing this stage; do not rush to immediately deposit funds into your account.

Verifying your account with the Forex broker FxPro

To start trading, the broker asks you to go through verification, which consists of two steps – Upload photo of your ID or driver’s license and Make a selfie. After loading, click next.

I have never seen such fast verification from any broker! I was very surprised; after uploading the document and selfie, verification took no more than 1 minute. And that's it, ready.

The account verification section itself is located in the upper right corner

Advantages and disadvantages of forex broker FxPro

Let's look at the obvious pros and cons of the FxPro forex broker. Advantages:

• More than 2100 trading instruments in 6 different categories
• No commission for deposits and withdrawals
• High reliability of the platform. Authorized in the UK and regulated by various authorities
• Customer accounts are kept separately from company accounts in large accounts international banks, including Barclays and Royal Bank of Scotland
• High order execution speed (13 ms)
• Advanced trading tools
• Multilingual platform in 21 languages
• Availability of a mobile application

Disadvantages of the broker:

• No customer support on weekends
• No promotions or bonuses
• Minimum deposit of $100

The pros certainly outweigh the cons. To be honest, a deposit of $100 is not the highest among competitors; perhaps only a novice trader who has not yet managed to earn a certain amount of capital would treat this with caution.

Reliability of the broker, who is regulated?

High security standards and transparency of activities are the main criteria for the operation of the FxPro broker. The company is registered in the UK, and not offshore, like the vast majority of its competitors. Traders' deposits are securely insured and located separately from the company's own accounts on deposits in major international banks. FxPro UK LTD is a registered international trading counterparty to Invest In Great Britain and Northern Ireland.

• FxPro UK Limited is authorized and regulated by the Financial Conduct Authority (registration number 509956)
• FxPro Financial Services Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) (License No. 078/07)
• FxPro Global Markets Limited is authorized and regulated by the Securities Commission of the Bahamas (SCB) (License No. SIA-F184)
• FxPro Financial Services Limited is authorized and regulated by the Financial Conduct Authority of South Africa (FSCA) (Approval No. 45052)

One of the indicators of demand and reliability is the awards received. FxPro has received over 100 awards for its work. Some of the most significant and recent ones:

• “Most Trusted Broker 2021” - Ultimate Fintech Award
• “Best Trading Platform 2022”
• “Best Forex provider 2022”
• “Best Trading Platform 2023”
• “Best mobile app for trading 2023”

Commitments to the world's largest brands and sports leagues provide additional incentive for growth and responsibility

Trading platforms at broker FxPro

Forex broker FxPro provides access to trading on 4 different trading platforms. Each of them differs in functionality and capabilities. In addition to the well-known platforms - MT4, MT5, cTrader, the broker has his own personal platform called FxPro Platform. Each trader decides which one to choose based on his needs.

Trading platforms:

• MT4 – allows you to open a position on all 6 classes of trading instruments. There are 30 trading indicators with the ability to add your own. MT4 has been used by millions of traders around the world since 2005. It is the most popular online trading platform, chosen by both experienced and new traders for its intuitive user interface and powerful trading capabilities. It is possible to install the platform on a mobile device. Of the minuses, it is the only platform among those presented that does not have a built-in economic calendar and detachable charts.
• MT5 - more than 2000 CFDs on shares await you. MT5 is gaining popularity every day, providing traders with a powerful pool of analytical tools, an editor for creating trading robots, a convenient environment for testing your trading strategies, as well as additional opportunities for opening trades. Availability of 21 timeframes. More than 35 trading indicators with the ability to add your own. The platform has been translated into 49 languages.
• cTrader – provides access to commodities, currencies and indices trading in cTrader accounts with reduced fees of up to $35 per $1 million in trade turnover. Along with FxPro's advanced trading infrastructure, competitive pricing and superior zero-dealing execution, the cTrader platform provides perhaps the most innovative trading experience in the industry. The advantage is the presence of more than 55 trading indicators, it is possible to add your own, 26 timeframes - the largest number among the platforms. Minus - it does not provide the opportunity to open positions in stocks, futures and cryptocurrencies.
• FxPro is a flexible and customizable platform to suit your needs. 6 chart types - Linear, Bars, Candlesticks, Heiken Ashi, HLS and Dots. 50 different indicators. Cons: Supports only 1 language. Lack of integration with the Trading Central tool.

For a simpler visual perception, look at the comparative characteristics of the platforms in the form of a table

Account types and trading tools of Forex broker FxPro

Register for free with broker FxPro

Forex broker FxPro offers more than 2,100 trading instruments on various account types. Every trader, from beginner to experienced, will be able to find a suitable one, since the platform takes care of the needs of each user. Beginners can try their hand at a demo account. There is an Islamic account that excludes interest payments. There are others, let's look at each of them.

What accounts does the broker offer?

Of course, the first one I want to talk about is the demo account. With this account you can practice your own strategy or get used to the platform without the risk of losing your funds.

Accounts for MT4 and FxPro platforms

FxPro broker offers different accounts for each type of trading platform. For the MT4 and FxPro platformsthere are 3 types of accounts: “Raw +”, “Standard”, “Elite”.

Account Comparison Chart

Accounts for the cTrader platform

A “Hedging” account is available for the cTraderplatform - ultra-low spreads (+$3.5 commission per side per lot on currency pairs/metals).

Accounts for the MT5 platform

The following accounts are available for the MT5 platform:

• “Hedging” - ideal for stock trading. Full range of instruments, including over 2,000 stocks with low competitive spreads and an optimal environment for EA
• “Hedging Elite” - Benefit from ZERO spreads (90%+ of the day) + low commission (max $3.5 per lot per side). Earn rebates as an Elite up to 21% of your commissions
• "Netting" - suitable for trading stocks and using EA. Full range of instruments, including over 2,000 stocks with low competitive spreads and netting execution model
• “Netting Elite” - Benefit from ZERO spreads (90%+ of the day) + low commission (max $3.5 per lot per side). Earn rebates as an Elite up to 21% of your commissions
• “Hedging Raw +” - Get ZERO Spreads (90%+ of the day) and low commission (max. 3.5 per lot side).
• “Netting Raw +” - Get ZERO Spreads (90%+ of the day) and low commission (max. 3.5 per lot side).

Free swap-free account

FxPro serves traders around the world, including those who may waive daily swap fees for religious reasons. For them, we offer swap-free accounts: no swaps, no rollovers on open positions that roll over overnight. To open such an account, submit an application on the broker's website.

VIP account - what are the advantages and how to get it.

VIP account – given to clients who have deposited $50,000 or more into the account. When you receive this account, you will receive a discount of up to 30% on market spreads, access to VPS without restrictions (with a virtual personal server, your trading advisors will now be active 24/5), as well as a 30% discount on commissions in the cTrader trading platform. VIP account holders receive personalized service and exclusive events and seminars.

VPS – dedicated server for automated trading.

For traders who prefer trading using automated bots, the broker provides a separate virtual server. VPS will allow you to host your robots and/or advisors on the MT4, MT5, cTrader platforms for a fee of $30/month. VIP account holders get access for free.

Joint account for several users

In order to open a joint profile (account with FxPro), each participant must first open a personal account on this site and then fill out a request form to create a joint account. To do this, contact the back office by writing to backoffice@fxpro.com. Please note that joint accounts are only available to married couples or first degree relatives.

Trading instruments of Forex broker FxPro

The broker offers more than 2100 trading instruments. They are divided into categories:

• Currency – 71 currency pairs available for trading on MT4, MT5 and cTrader platforms
• Shares – 1956 shares of various companies and brands
• Futures - With futures CFDs you can make trades to buy and sell various contracts (indices, commodities or energy) with a specific expiration date
• Cryptocurrencies – 28 cryptocurrencies including the most popular ones, Bitcoin, Ethereum, Litecoin and others
• Metals – 12 metals are available for trading. Contracts for differences, or CFDs, allow you to trade not only currencies, stocks and indices, but also precious metals. The most popular of them are GOLD and SILVER
• Energy - trade CFDs on popular energy commodities such as Brent and WTI oil, as well as natural gas
• Indices – the world’s most famous indices are available to you. They include shares of the largest companies in different countries

PAMM account. What is it and how to make money from it

PAMM account is “money management with percentage distribution”. When you open a PAMM account with FxPro, you manage an account that pools the funds of your investors who have entrusted their finances to you. You implement your trading strategy and investors receive proportional profits/losses based on the account deposit and the success of your strategy. Main account trades are automatically replicated across your investors' accounts using proration based on predefined settings. Then you receive a certain % of income on completed transactions.

First of all, it is suitable for successful and experienced traders. To create such an account, you need to fulfill several conditions:

• 6 months of successful real trading experience
• Complete a detailed strategic partnership form outlining your trading approach
• Recommended minimum portfolio of $50,000 to demonstrate financial stability
• Existing clients who are interested in investing in your PAMM account
• Limited Power of Attorney (LPOA) will be granted upon registration

To open a PAMM account, you need to contact the broker by sending an email to parts@fxpro.com or contacting the 24-hour support team. To be considered, you must complete a Strategic Partnership Form describing your trading experience, risk management strategy, and demonstrate relevant licensing or industry experience in Forex trading. FxPro will guide you through the application process, ensuring that you meet all necessary requirements.

NOTE:

To manage trader accounts in the EU you will need a fund/portfolio management license issued by a European regulator, equivalent to CySEC, which clearly certifies that you can manage client/third party funds.

There is some flexibility in these requirements, feel free to contact support if you want to discuss anything.

Commissions, swap/rollover for transactions with the FxPro broker. Inactive Account Fee

FxPro clients only pay commissions on forex pairs and metals on the cTrader platform. FxPro charges $35 for every $1 million in trading volume. If the trading account is not opened in US dollars, the commission amount is converted into the appropriate currency. How to calculate the commission?

Swap/rollover

A swap/rollover is charged if the trade remains open overnight and represents a cost to finance the trades. The swap is debited automatically at 21:59 (GMT) from the client's account and converted into the account currency.

• On the MT4, cTrader and FxPro platforms, the swap is calculated and charged once per weekday, with the exception of Friday, when it is calculated and charged three times, taking into account the weekend rollover (Friday-Monday).
• On On the MT5 platform, swaps are charged daily for all instruments.
• Swaps are not charged for futures contracts.
• Swap rates are reviewed weekly and updated accordingly.

How are swap rates determined?

For Forex pairs, the cost or income is calculated as the interest rate differential between the Tomorrow Next Deposit Rates(TNDR) of the 2 currencies in question, plus the commission charged by the Company on which the position is held and depending on the type of the position(Long / Short). Clients may either gain or lose on swap, thereby having either positive or negative rollover, respectively.It is possible that some instruments may have negative rollover values ​​on both sides as a result of commission being added on top of the overnight interest rate differential of the two currencies. For Spot Indices and Spot Metals, the swap charges are based on the underlying Tomorrow Next Deposit Rate (TNDR) of the Quote currency of the relevant asset, plus the commission charged by the Company on Long positions or minus the commission charged by the Company on Short positions.

Example of swap calculation for Forex

Commission for inactive account.

If your trading account is inactive for more than 6 months, that is, you did not open or close transactions during this period, the broker has the right to charge you a commission of $10 for each inactive month. The commission is determined by the exchange's costs of administering and servicing this account. If your balance is less than $10, then the commission amount will be equal to the balance in your account.

How to open an account with Forex broker FxPro

To open an account, go to the “Accounts” section in the main menu and click “Create new account”.

Next, select a trading platform and account type. Below you can select your leverage and account currency.

After opening an account, a letter will be sent to your e-mail with your login and password to log into the trading platform.

Register for free with broker FxPro

Depositing and withdrawing funds from the Forex broker FxPro

Depositing and withdrawing funds is quite simple, but there are rules, and if you follow them, this process will not take much time.

Top up your account with Forex broker FxPro

Replenishment is available from various electronic wallets, bank cards and cryptocurrency. The minimum deposit amount is $100. The broker does not charge any commission for replenishing funds. However, the commission may be charged by the payment system itself. The easiest way to top up your account is to go to the “Accounts” section and click top up next to the open account.

Choose a replenishment method convenient for you and enter the replenishment amount. Next, you will be asked to enter your card or e-wallet details, or you will be provided with a QR code and address for topping up with cryptocurrency. Replenishment occurs very quickly, most often the funds arrive within a couple of minutes, less often there are cases when the funds arrive within 3-5 days.

Withdrawing funds from the FxPro broker

When getting to know a new broker, the first question that most often worries a trader is whether the broker is withdrawing money. With the Forex broker FxPro you can withdraw your deposit without any problems, there is no need to worry about this. The broker also does not charge a commission for withdrawals. Please note that the priority withdrawal method will be the payment system used when depositing funds. Do not make payments from third party wallets and cards. Also, when withdrawing, the company may require a bank account statement to verify that you are the owner of the card.

To withdraw funds, go to the “Wallet” section and click on withdraw funds. The last used details will be displayed automatically

Training, tools, analytics and Trading Central

There are many different educational materials on trading with Forex brokers on the Internet. Training is also available on the platform itself. Quite a lot of articles, books and videos on the basics of trading, psychology and trading strategies. A trader at any level will be interested in reviewing the material and finding something new for himself.

In addition to all trading tools, you can additionally use an economic calendar - a very important assistant in planning. The economic calendar helps you make informed trading decisions. Pay attention to upcoming publications that are scheduled for a particular day. On days when news is released, the asset usually experiences high volatility.

Trader Calculator - automatically calculates the required margin, trading commission and 1 point value for any position.

FxPro Squawk - Breaking economic news and commentary in audio format.

Trading Central - daily analysis of available assets

Trading Central is a provider of independent technical analysis for professional market participants, serving over 100 financial institutions in more than 30 countries. Trading Central not only provides ready-made trading ideas, but also helps you evaluate the effectiveness of your existing trading strategies. Access to it will automatically open after replenishing your account.

FxPro broker on a mobile device. Application for iOS and Android

Having access to a trading platform anywhere in the world is sometimes simply necessary. Forex broker FxPro has its own application for iOS and Android platforms. The FxPro app is a mobile trading platform that includes powerful TradingView charts, account and fund management tools, and an economic calendar. For reliability, it is possible to connect two-factor authentication, password settings, fingerprint and additional levels of protection. Simple and convenient.

Affiliate program of forex broker FxPro. How to earn passive income?

Forex broker FxPro has an affiliate program and this is a great way to make passive income. If you are a media person, have your own audience or run your own blog, for example, about investments, this is a great chance for you to earn income from an invited audience. Remuneration is carried out according to one of two systems:

• CPA Share is a one-time payment for each attracted trader. Earnings can reach up to $1,100 for each attracted client.
• Revenue Share – receiving profit from the turnover of the referred client and up to 55% of the broker’s commission.

To become a partner, register with a broker, click on your account icon in the upper right corner and “invite a friend.” After this, the “partner mode” tab will be available in the main menu. You can freely switch between partner and trader modes on the broker's main page. In partner mode, all the necessary links and materials for attracting clients will be available, as well as detailed statistics on your referrals.

Contact information for forex broker FxPro

• Official website - https://fxpro.com
• E-mail - info@fxpro.com
• Reception - +44 (0) 20 7776 9720 (UK)
• Company address - 13-14 Basinghall Street, City of London, EC2V 5BQ, UK

Conclusion

Forex broker FxPRO is suitable for both novice traders and experienced players. A diverse range of services, accounts and platforms attracts more and more users every day and quite deservedly so. Everyone will find favorable conditions and a suitable trading account. Definitely, it can be recommended for use.

Frequently asked questions

Is the broker regulated? If yes, then by whom?

Yes, the broker is regulated by CySEC and FSCA

What is the minimum deposit to start trading?

The minimum deposit is $100

What trading platforms do you use for trading?

Trading is available on such trading platforms as: MT4 MT5 cTrader, own platform FxPro

Does FxPro have a mobile app?

Yes, the application is available for iOS and Android

Does the broker have a PAMM account?

Yes, the broker, if certain conditions are met, provides access to the PAMM account

Does the broker provide access to copying trades?

The broker does not have this service

What are the maximum trading leverages?

Each type of trading instrument has a different maximum leverage value.

Register for free with broker FxPro