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FxPro review: Is it a legit or scam CFD broker?

fxpro review

FxPro enables clients to trade over six asset categories including Forex, Futures, Indices, Metals, cryptocurrencies, and energies. Other than trading, FxPro offers a wealth of useful market information, educational resources, MetaTrader suit, proprietary trading platform, cTrader, economic calendar, etc. It is important to trade responsibly because CFDs typically come with a high risk of losing money rapidly owing to leverage. As a matter of fact, at least 72% of retail investor accounts lose money when trading complex instruments like CFDs.

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The platform offers customer service in multiple languages and is a highly regulated broker, which makes it a safe option for trading CFDs. They also offer a variety of useful trading tools, third-party market analysis and educational resources for beginners. Despite this, I found the spreads and fees to be comparatively higher than other brokers.

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On the MT4 Raw Spread account, FxPro offers spreads without markup on FX & Metals, with a commission of $3.50 per lot. Starting to trade with FxPro, you will first need to open an account and deposit funds. Once your account has been approved, you can then make a deposit using one of the many methods available.

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At its core, the FxPro Wallet is synonymous with a bank safe deposit box where you can keep your funds safe and secure. FxPro spreads to be high when compared https://traderoom.info/lexatrade-review-pros-cons-and-verdict/ side by side with other forex brokers. For example, forex broker Pepperstone spreads start from 0.60 pips EUR/USD for their standard account.

Desktop trading platform

Funds can be deposited into a FxPro Wallet using bank transfer, credit/debit card, PayPal, Skrill, Neteller and UnionPay. FxPro offers users the ability to trade on more than 260+ financial CFD instruments covering Forex, Futures, Indices, Metals, Energies and Shares from the US, UK, France and Germany. The broker also has an impressive range of exotic Forex pairs. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews.

fxpro review

Negative balance protection is important for traders using leverage on platforms like FxPro. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a FxPro trading position does not go in your favour, this is where negative balance protection comes in handy. As you can probably tell, FxPro offers its clients a wide selection of trading accounts. Each trading platform offered by FxPro comes with its own type of trading account and conditions. Regardless if you are a new trader, an established one or an institutional client, FxPro will cater to your needs in a professional manner.

How do I know I can trust these reviews about FxPro?

The head office is in the UK while the branch offices are in Cyprus, Monaco, Bahamas and the United Arab Emirates. FxPro boasts of having millions of client accounts from over 173 countries. I like how the website is translated into over 25 languages to cater to the international community. You can trade a reasonable selection of financial instruments in a variety of asset classes on industry leading trading platforms which includes; MT4, MT5, cTrader and Edge.

  • In fact, Jessica has worked in a staggering 8 countries including Germany, China and the USA.
  • These platforms are customizable, user-friendly, reliable, fast, secure, and have advanced tools.
  • Traders who don’t have trading solutions based on the MT4 code, are highly recommended to take advantage of the cTrader platform which is offered by FxPro.
  • It offers 2100+ trading instruments with a trust score of 94 out of 100.

These measures help ensure the safety of client funds and personal information. In the event that a client’s account balance becomes negative due to market movements, FXPro will reset the balance to zero, ensuring that the client does not owe the company any money. This means that clients cannot lose more than their account balance, even if their positions move against them. It’s important to note that negative balance protection does not protect against losses resulting from trading itself. Clients are still responsible for the losses incurred by their trading activities. FxPro offers accounts, namely the FxPro MT4 account, FxPro MT5 account, and FxPro cTrader account.

Tools Offered by FxPro

FxPro offers in-house research while it has also partnered with Trading Central in order to offer a third-party solution to its clients. The educational section is very comprehensive and an excellent starting point for new traders. FxPro has done a fantastic in both departments which complement the trading conditions offered; the attention to detail and fresh content is respectable. FxPro is committed to providing its clients with full trade reporting and support.

I was able to select the moving currency against EUR, USD, GBP, etc to see the percentage of the movement. This displays the percentage of FxPro’s clients that are buying and selling an asset, also known as the market sentiment. The ‘Price ticker’ shows the assets prices and their percentage change in real time. My favourite part is that it also shows the volatility charts of selected assets. All of these tools are great for improving market analysis in my opinion.