FxPro Review – Is FxPro Scam or a Legit Crypto Broker?

FxPro Review

FxPro logo

FxPro is the world’s top global CFD and forex broker. Since its founding in 2006, the company has executed 455 million orders and served 1.8 million customers in over 173 countries. FxPro review shows over 200 employees in their four offices as of 2021 and has over $100 million in Tier 1 capital. FxPro trademarks are registered in the UK, Cyprus as FxPro Financial Services Limited, Bahamas and South Africa.

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FxPro is regulated in two tier-1 and one tier-2 jurisdiction so trading forex and CFDs is safe (low-risk). With FxPro, you can choose from fixed and variable spreads across various account types. Among the platforms offered by FxPro include MetaTrader and cTrader, which can be accessed via desktop, web, or mobile devices.

FxPro website

Account types

FxPro Accounts include a combination of advantages offered by FxPro, as well as Micro Accounts and Swap-free Accounts. Demo accounts are accessible from the Live platform along with Demo accounts for practices.

Trading Platforms

Let’s look deeper into the FxPro offering and learn why traders around the world prefer it so much. This platform offers powerful tools that can be adapted to fit everyone’s needs, including the popular FxPro MetaTrader 4 platform or its newest version, FxPro MetaTrader 5. Or you might decide to use FxPro cTrader or FxPro Edge for Spread Betting, which are super technological platforms.

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FxPro trading platform

Offering of investments

There is a wide array of symbols present at the platform of FxPro, depending on the platform you choose. FxPro is a global company with a suite of platforms that includes MetaTrader. In addition, the BnkPro app, which isn’t yet available globally, offers thousands of shares for trading. FxPro’s clients can choose from various investment products as summarized in the following table.

Commissions and Fees

Compared to competitors which offer the complete cTrader and MetaTrader suites, FxPro’s pricing is above industry average, putting it at a disadvantage.

Execution Method

FxPro offers MT4 traders the option of choosing variable or fixed spreads. Execution-based pricing is available for variable-spread pricing in two forms: instant and market. Requotes are possible with instant execution, but no slippage is possible with market execution.

Commissions

In addition to commission-based pricing, FxPro’s cTrader platform offers competitive spreads. Trading on cTrader with FxPro’s EUR/USD pair results in a spread of roughly 1.27 pips. FxPro’s average spread (as of August 2020) is 0.37 pips, and a commission equivalent to 0.9 pips is also included.

Spreads

Based on FxPro’s data from August 2020, MT4 and MT5 users can trade the variable spread model, with greater EUR/USD spreads (1.51 pips on MT5) and 1.71 for instant execution accounts.

Fixed pricing

A fixed-spread offering is not available on MT5, only market execution.

Active traders

A VIP account offered by FxPro includes the Active Trader program. The discounts offered by FOREX.com, Saxo Bank, and IG are more attractive, but they are not as large.

Executing Large Orders

The best thing about FxPro is that it can execute large orders at prices not too far away from market rates.

Deposits and Withdrawals

In addition to the variety of options available for funding your trading account, you can make money transfers for no fee, though make sure to check the FxPro entity you intend to trade with first.

Customer Support

FxPro has a Live Chat feature for contacting customer support, but they can also be reached by phone, e-mail. There is a multilingual support team available 24×7, however, most traders are unlikely to need their assistance. In addition to the FAQ section, a qualified support staff is available in case of an emergency.

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Final thoughts

With FxPro, professional traders have access to a range of platform options, multiple trade execution methods, and large, clean orders can be executed promptly without any issues. FxPro is more expensive than the competition, and its proprietary FxPro Edge app isn’t currently available for mobile devices.

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