FxPro Review 2024: Read Before You Trade
Our team of industry experts also assessed the mobile trading Apps offered by FxPro. FxPro brings all the trading tools and features of the desktop version directly to your mobile device. Additionally, this forex broker released its own branded account management tool called FxPro Direct App. This forex broker aggregates the price quotes from multiple liquidity providers (more than +12 LP) and gives forex traders the chance to trade against tier-1 liquidity providers. FxPro was established in the year 2006 and has its head office in the United Kingdom. The company is regulated and registered by the Financial Conduct Authority (FCA) in the UK.
The Trading Platforms of FxPro
Once users are up to speed on a demo, they can easily switch to a live account. One of my favorite indicators, xcritical reviews market sentiment, is available via the platform. Market sentiment indicates the percentage of client accounts that are long (buyers) or short (sellers). The information is collected from all available cTrader servers across multiple brokers. Within the client portal, traders can access FxPro Squawk, which is an excellent resource for news trading.
The depth-of-market shows incoming liquidity from liquidity providers. CTrader offers state-of-the-art algo trading, copy trading, and a performance analysis tool – making it a suitable choice for active, experienced traders. But their spreads are better than average for CFDs on shares and some commodities and indices. Keep in mind that the lowest trading costs can be accessed via the Raw+ and Elite account types. The intuitive FxPro Trading Platform is ideal for newbies and casual traders who want to get started in the markets.
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As an NDD forex broker, FxPro executes clients’ orders anonymously without any intervention in the exchange rates. NDD forex brokers guarantee that there are no requotes of prices and spreads are kept low. Additionally, besides having direct market access to the interbank market, there is no conflict of interest between the forex broker and the FX trader. Just like the web-based and desktop platforms, the FxPro mobile trading platform is third-party developed, and includes features from Spotware Systems and MetaQuotes Software Corporation.
In 2014, FxPro was named the Best Forex Customer Service Brand, Europe, by Global Brands Magazine. 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.
Some of these platforms come with native features, but some areas of the platform are not native. These include the reporting features, execution and pricing models, and other features that cannot be customised or disabled by the broker. Additionally, our FxPro review revealed consistency for mobile application trading markets in the layout and interface on the white-labelled version of the cTrader platform. Just as with the web-based platform, navigation was intuitive and easy.
What Trading Calculators Does FxPro offer?
The brokerage facilitates 24/5 trading across 6 asset classes and over 2100 financial instruments. Financial spread betting is a tax-free product under UK law and a popular alternative to CFD investments. The spread bet markets available with the Edge account include Forex currency pairs, shares, spot indices, spot metals and spot energies. The spread bets offer much tighter spreads than the traditional financial assets.
- FxPro is in the contracts for difference (CFD) and spread betting market in the U.K.
- Copy trading is available via the cTrader platform, with a diverse range of strategy providers.
- The free cTrader system platform download was designed for CFD traders.
- The following table summarizes the different investment products available to FxPro clients.
- But their spreads are better than average for CFDs on shares and some commodities and indices.
When it comes to scalping CFD markets, FxPro provides the optimal tools available. FxPro prides itself on its “five‑star customer service,” specifically its multilingual, 24‑hour Monday‑through‑Friday (24/5) customer service team. Its live phone support operates in several locations, which include the United Kingdom, Cyprus, Monaco, Bahamas, and the United Arab Emirates. Simulated demo‑account trading is available but only after providing personal identification documents. There is also a running news feed with the latest market headlines and a link to Trading Central WebTV.
FxPro spreads to be high when compared side by side with other forex brokers. For example, forex broker Pepperstone spreads start from 0.60 pips EUR/USD for their standard account. Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms.
Filippo Ucchino created InvestinGoal, a comparison site and educational portal for the online trading and investing industry. Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons. If you’re a beginner, the best option xcritical would be opening a demo account and practicing in a free-risk environment with virtual money. Should you want to know more, you can read our best forex demo account.
He is an expert in Compliance and Security Policies for consumer protection in this sector. Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange.
FxPro competes among the top MetaTrader and cTrader brokers, featuring multiple account options and multiple execution methods, and platforms. It provides its own proprietary FxPro Edge app available for web and mobile alongside access to the BnkPro app and Invest Web platform. FxPro provides access to multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader.
FxPro has one of the highest counterparty credit ratings in the industry, scoring 96 on a 100-point scale, where a high score indicates a lower risk of default or bankruptcy. They also participate in the Financial Services Compensation Scheme (FSCS), which allows clients to claim compensation in the event FxPro were to become insolvent. Traders simply need to select the instrument, decide which price to alert (bid or ask), and then choose to alert when the price is higher or lower than a selected level.