FxPro Review in 2024 Spreads & Fees Compared
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. To sign up for a trading account with FX Pro you will need to provide an international passport, and national ID Card or drivers licence. You might also need to provide proof of residence for the last 6 months. We used a standardised process to collect all the information needed to assess FxPro’s performance. And, based on our proprietary scoring system, we concluded that it’s safe to trade with FxPro.
Below, our team of experts will assess what is the best forex trading platform to suit your trading needs. The FXPro trading platform includes the usual custom tools and backtesting, but FXPro also brings several unique add-ons of their own to the table. These include the FXPro Vault, which allows you to keep an amount of your funds separate in a secure virtual vault, to be used for future trading.
How To Open FxPro Demo Account
So go ahead and try out different trading strategies and make sure that you feel comfortable first before risking any of your own money. Now, you may be able to see that there is a demo account shown on our screen above, but on yours, there won’t be just yet. Simply click on the demo accounts tab and then click ‘create new account’ (which you can see in green). Spreads from 10 cents for trading gold and from 0 for forex, this is top conditions for this account. As I know, there are 3 types of chart which are line, candle and also bar. But after read this article, I’ve known about line charts, bar charts, candlestick charts, dot charts, tick charts, renko charts, range charts, HLC charts, and Heikin Ashi charts too!
FxPro offers low fees and efficient No Dealing Desk (NDD) execution, creating a more transparent trading environment. With access to three leading forex platforms, including the popular MT4, FxPro offers flexibility and advanced tools that cater to novice and experienced traders. The FxPro demo account is an intuitive, easy-to-use trading platform. Not only does it provide beginners with a space to practice trading, it also offers a suite of analysis capabilities for more experienced traders. As an added bonus, it is also compatible with a host of popular third party software such as MT4, MT5 and cTrader.
- FxPro MetaTrader 4 (MT4) stands as the gold standard in the trading industry, equipping traders with all the essential tools for charting assets, executing orders, and overseeing positions.
- While the negative balance protection policy is more common to be enforced in Europe due to the ESMA rules, FxPro treats all of its clients the same regardless of their jurisdiction.
- For example, cTrader accounts feature tight spreads from 0.0 pips but include commissions, while MT4/MT5 accounts have zero-commission trading with variable spreads.
- Due to the availability of MetaTrader, cTrader, and its own proprietary FxPro Edge web platform, traders at FxPro have a diverse selection of platform options that support a variety of trading styles.
Account Types Available
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.
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. Clients in the UK should be aware of a few differences between the FxPro product compared to products offered by FxPro in other regions.
This abundance of features can be both exciting and overwhelming for different traders, leaving the choice between the two platforms in their hands. Could you please provide more insights into the standout features that one can expect from Metatrader 5? How do these features enhance the trading experience and cater to the diverse needs of traders? FxPro provides access to multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. Each platform comes with unique features suited to different trading needs and styles. FxPro recommends a minimum deposit of $1,000 for optimal trading, although clients can deposit as little as xcritical cheating $100.
Additional Features
The company is regulated by several top financial regulators including the UK’s FCA to provide tradable instruments like oil, gold, currencies, and more CFDs with 70% lower spreads in the market. If you are simply looking for a trading platform to trade manually, then FxPro Platform is the most suitable option. We cannot create custom indicators, scripts, or auto trading tools with the platform.
FXPro is regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus and the Financial xcritical official site Services Board of South Africa. It has also been licensed to operate in the UAE since October 2017 under the Dubai Financial Services Authority. Under the FCA and CySEC’s rules, companies including FXPro must keep a minimum of €730,000 in funds to prove their solid financial standing. They are also required to keep client funds in segregated accounts, clearly separate from company funds. This means that in the highly unlikely event of FXPro getting into serious financial trouble, any money you have invested with them will be protected. Additionally, the Financial Services Compensation Scheme (FSCS) protects customer deposits up to £50,000 in the UK.
Besides 3 types of platforms above, trading in FxPro also enables access to FxPro Edge. This platform offers clients a new way to trade the markets in the form of spreads betting. The FxPro cTrader platform offers one of the most innovative trading experiences in the industry, featuring advanced technical features and the convenience of cTID (cTrader ID) login functionality. This allows users to access all linked accounts through a single login, with synchronized settings for added ease of use.
Forex Risk Disclaimer
Founded in 2006, FxPro has executed more than 600 million orders since its inception and has serviced 1.8 million clients in over 173 countries. The FxPro brand holds regulatory licenses in the United Kingdom under FxPro UK Limited, Cyprus under FxPro Financial Services Limited, as well as in South Africa, the Bahamas, and Seychelles. FxPro’s education section provides written materials along with a handful of educational videos. FxPro has built a good foundation of educational content, yet the quantity and scope of available materials falls behind what is offered by education leaders such as IG, Saxo, and FXCM. This version provides important security improvements, error fixes, and platform stability enhancements.
cTrader
If you qualify for a professional account, you will also get the following benefits Negative Balance Protection, which is significant because most other brokers don’t offer this with professional accounts. This can be useful given you are trading with High Leverage Forex Brokers. Professional traders will, however, lose access to the Financial Services Compensation Scheme. Both FxPro deposits and withdrawals are conducted via an innovative money management tool called FxPro Wallet. This multi-functional account management tool lets FxPro clients transfer funds between their trading accounts in a secure medium.
FxPro provides daily market updates and analysis on its blog, along with content from third-party providers. For comparison, XM Group and Tickmill produce numerous daily research videos. Signals and Market additional services extend MetaTrader 4 frontiers. The Signals service allows you to copy trades of other traders, while the Market provides you with various Expert Advisors and Technical indicators that you can buy. The Help Center is equipped with a search feature where potential FxPro customers can type to search for the right information. The most interesting section is the Featured Articles, which tries to answer simple questions like how to open a live trading account and the most asked question.
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. 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.
Each trading platform offered by FxPro comes with its own type of trading account and conditions. FxPro also stands out for its strong customer support, which has earned the broker numerous awards. This combination of top-tier support, low costs, and flexible trading options makes FxPro an appealing choice for forex traders. Moreover, traders who rely on market sentiment analysis, news feeds, integrated economic calendars, and the ability to analyze trade statistics will find the cTrader platform highly advantageous. Overall, FxPro cTrader caters to both beginner and experienced traders who value flexibility, customization, and access to comprehensive trading tools and information. Although lots of other platforms with more advanced features come and go, MT4 is still the most recommended trading platform.