FXPRO REVIEW: PROS & CONS
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
Last Update:
27.6.24
INDEX
Try this App
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
BASIC INFO
FXPro is a well-established online Forex and CFD broker, offering advanced trading services in a multitude of financial markets. The platform is celebrated for its superior execution, diverse trading platforms, and comprehensive trading tools. FXPro is dedicated to providing a professional and reliable trading environment, supported by extensive market analysis and client education, making it a top choice for serious traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
PROS & CONS
PROS
+20 Years in Business
This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.
Regulated by a Credible Government Agency
This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.
Fast Registration Process
This platform offers a simple and straightforward registration process, allowing users to quickly create an account and start trading without unnecessary complications.
CONS
Poor Customer Support
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Lack of Educational Resources
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
APPS
METATRADER 4
Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.
METATRADER 5
Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.
CTRADER
cTrader is a robust, user-friendly and efficient Forex and CFD trading platform. Renowned for its rapid execution, transparency, and equitable trading setting, cTrader is extensively utilized for ECN trading, technical analysis, day trading, and copy trading.
cTrader is rapidly gaining popularity, particularly among traders transitioning from the MetaTrader platform. One of its standout features is the cTrader Open API, a service enabling the development of custom applications that interface with the cTrader backend. This API is language-agnostic, allowing developers to use any programming language to interact with it.
FXPRO TRADING
Platform by FxPro broker. Offers advanced trading tools and features.
The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.
ACCOUNT OPENING
How to Open a Trading Account with FXPro
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How Do I Make a Deposit on FxPro?
Once you have decided how much to deposit and which method to use, making the deposit is straightforward and quick. Simply follow these steps:
Use this link for a fast deposit, which gives you priority.
Open the trading screen and click on the "Wallet" button.
Upon doing so, select a payment method. FxPro offers many convenient methods that are available to the customer; these are displayed in the personal account.
Next, enter the deposit amount.
Complete the form by entering the requested payment details and make the payment.
The minimum deposit is 10 US dollars (or the equivalent in the currency you have chosen as the base).
Available Payment Methods on FxPro
Visa or MasterCard Credit Cards: The deposit is applied immediately, making it one of the best ways to fund your trading account.
Electronic Wallets: Secondary methods depend on your country of residence; however, you may use Skrill, Perfect Money or Neteller.
Cryptocurrencies: FxPro allows cryptocurrency deposits using Bitcoin, Ethereum, Litecoin, USDC or USDT.
Does FxPro Charge a Commission for Depositing?
No. The company does not charge any fee for deposits or withdrawals. However, it's important to note that payment systems may charge their fee and use their internal conversion rate.
Deposit & Withdrawal Methods
.png)
ASSETS & SERVICES
FxPro is a solid choice for investors interested in FX (Forex) and CFD (Contract for Difference) trading. It offers a wide range of financial assets, including:
Currency Pairs (Forex): Currency pairs are one of the most popular assets in trading. Investors can speculate on the fluctuation of exchange rates between major currencies, such as EUR/USD, GBP/JPY, and USD/JPY.
Stocks: It allows the buying and selling of CFDs of stocks of companies listed on various stock exchanges worldwide. This provides investors with the opportunity to invest in leading companies like Apple, Amazon, Microsoft, and many others.
Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. Investors can trade indices such as the S&P 500, FTSE 100, DAX, and more, allowing them to diversify their portfolios.
Commodities: Commodity assets include crude oil, gold, silver, natural gas, corn, coffee, and other basic commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.
Cryptocurrencies: You can trade CFDs on a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.
REGULATION
United Kingdom
FCA
Financial Conduct Authority
Cyprus
CySEC
Cyprus Securities and Exchange Commission
Bahamas
SCB
Securities Commission of the Bahamas