When checking account security, I verified that 2-factor authentication is available. I tested the spreads at FxPro across various markets during the London open and after the New York open on 26 April 2024. At these times, the market is typically highly liquid with the tightest spreads. FxPro shines in its platform offering, which includes MetaTrader 4, MetaTrader 5, cTrader, and the proprietary FxPro Trading Platform. It also beats the industry average when it comes to order execution, with most orders executed in under 12 milliseconds.
Islamic Account
On the other hand, FxPro does not offer other asset classes such as bonds and options. FxPro is an award-winning forex brokerage that was formed in 2006 and is based in London, United Kingdom. We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team.
What Can You Trade with FxPro?
This allows the company to minimize risk and costs without interfering with orders in any way. FxPro does not seem to offer any discounts for higher-volume traders on the couple commission types it does charge. Unlike other brokers, FxPro offers https://traderoom.info/fxpro-overview/ streaming mobile news with major news headlines that can impact markets. This allows traders to follow market developments on the go in real time. Conditional orders are easy and straightforward to set up with various types on offer.
Is FxPro regulated?
FxPro clients are charged a commission only on the FxPro cTrader account. The commission-based pricing is decent, but there are other good brokers out there offering lower commission (E.g. Pepperstone commission is $3.5 per 100,000 unit traded). FxPro charges $4.5 per side for each 1 standard lot traded or a $9 round-turn commission.
About This Forex Broker Review
FxPro offers its customer service in different languages catering to a global customer base. Our team of experts was able to validate 21 different languages at fxpro.com. But they do not offer some tools that seem like a no brainer on a good platform. In terms of account type, FxPro use accounts based on which platform you decide to use, whether that be MT4, MT5 or cTrader.
Forex Education
- FxPro have a good choice of trading platforms and tools but the broker fees are not the lowest you will find.
- FxPro also offers a wealth of archived educational webinars and seminars via its YouTube channel.
- FxPro traders also enjoy negative balance protection in case leveraged positions are exposed to natural market events which would otherwise result in a negative balance.
- FxPro is committed to providing its clients with full trade reporting and support.
- FxPro shines in the research offering with high-quality in-house analysis and a range of proprietary and third-party tools.
For online Forex trading, MT4 has established itself as the market leader, and with available additions, it can become a powerful gateway to financial markets. At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. FxPro offers a range of desktop and mobile trading platforms with essential features like charting, transparent pricing, and various order types.
Another core feature for Forex traders who manage their accounts with automated trading solutions is the FxPro VPS service, but the price tag of $30 per month is unfortunate. FxPro has a robust education section with a variety of materials https://traderoom.info/ for both beginners and advanced traders. Interactive courses cover fundamental analysis, technical analysis, and trading psychology. The FxPro YouTube channel also features educational videos, platform tutorials, and recorded webinars.
The withdrawal screen on the trading platform states the minimum withdrawal requirements for each payment method. At this point, let us compare FxPro MT4 accounts average spreads with those other major brokerages offered on the most actively traded major Forex pairs. The broker also offers the Islamic account, which is a swap-free account designed for Muslim clients who are unable to receive or pay swaps due to religious beliefs. While this account type does not incur any swaps or interest charges on overnight positions, the account holder may be charged an administration fee on trading positions. A more detailed analytics service exists through the FxPro Partnership with Trading Central, a leader in independent research.
FxPro is rated “excellent” on Trustpilot with a 4.4 rating based on 321 reviews. Positive FxPro reviews praise the broker’s support for trading bots and their reliable and affordable VPS service. However, there are regions where residents may not access FxPro trading services. The broker does not offer services to residents in the United States of America, the Islamic Republic of Iran, and Canada. They also do not operate in regions where their services would contradict local laws or regulations.
The spread on the account is variable, as mentioned, and depends on market volatility. The latest addition in the set of trading software is the Markets web-based platform. As well as MetaTrader’s WebTrader, it is accessible from the browser. Among the features, there are one-click trading, a wide range of trading indicators, advanced charts, and more.
You can speculate on the price movement of any global equity index of choice. Trading indices are popular among FxPro traders due to their comprehensive terms, accurate quotes from several suppliers, and versatile analytics. At FxPro, all indices trading styles are welcome, including scalping, hedging, swing trading, and position trading, and you can use any Expert Advisor (EA) that suits your trading style. You can trade CFDs on shares of some of the largest and most popular companies in the US, UK, and so on and benefit from ultra-fast order execution and competitive trading conditions.
According to Fx Pro reviews, the platform allows clients to trade over 70 currency pairs and benefit from tight spreads and fast order execution. The Fx Pro Broker Platform allows clients to trade from charts and supports 1 click trading. It offers over 50 indicators, sound price alerts, 4 pending order types, detachable charts, and an integrated economic calendar. However, it does not support EA trading, trailing stop, or coding languages. Furthermore, it doesn’t show the Depth of the Market (DoM) and market sentiments for minor currency pairs.
It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. These bodies include the FCA in the UK to the pleasure of our UK review team, CySEC in Europe, and the FSCA, DFSA, and SCB around the rest of the world.
While most trades are commission-free, some may be irked by commissions charged when using their cTrader automated platform. FxPro also offers a Virtual Private Server (VPS) that enables clients to upload and run MetaTrader 4 Expert Advisors and algo bots 24 hours a day without needing to keep a trading terminal running. Traders can choose multiple time frames to monitor and can easily add multiple trading indicators, such as moving averages.
Scalpers, who are in and out of the market within seconds, can benefit from FxPro’s ultra-fast order execution and tools like depth-of-market (DOM) in cTrader and MetaTrader 5. When it comes to scalping CFD markets, FxPro provides the optimal tools available. MT4 Market account type has a Market execution in comparison to the previously mentioned account that does not guarantee the execution price but guarantees the order execution. Among the asset classes on this account type, there are Forex pair, indices, energies, metals, stocks, and futures. CTrader is less popular though still feature-rich and the platform itself is also stylish and fast as well as its PC-based version and as well allows to get access to a solid number of instruments.
