FX Pro: A Review

It can be difficult to decide which broker to choose for online trading. A review could make your decision-making process easier.

There are some important features to consider when choosing a broker that you can trust with your money. A FxPro review will allow you to make an informed decision based on the features, price, and ease of use when it comes to choosing which broker is suitable to your needs.

Continue reading for a review of FxPro which will assist you in determining if it is the broker for you.

Platform Functioning and Overview

FxPro claims to be the number 1 broker with 15+ years of excellence and innovation. FxPro gives high-standard access to financial markets using their advanced execution model. 

FxPro offers an array of online trading with CFDs on 260+ instruments in 6 asset classes. You can trade CFDs on 70+ FX pairs and benefit from tight spreads and fast order execution. Its average execution speed is < 11.06 ms. About 7,000 orders are done per second, proving the platform has an ultra-low latency data center colocation.

FxPro has a “Trophy Cabinet” on display to showcase their awards for the proprietary products and services that have differentiated their company in the industry of online trading. Some of them are:

  • Best FX Service Provider, 2018 (City Of London Wealth Management Awards)
  • Best FX Broker, 2020 (Online Personal Wealth Awards)
  • Best FX Broker, 2019 (Financial Times and Investors Chronicle)

Rest assured because a recent survey conducted in the UK determined that FxPro is the number one choice of traders. FxPro was favored for its elite trading conditions as well as for the wide range of services, products, and platforms that it offers.

It could also be true because FxPro offers 24/5 multilingual customer support providing assistance in more than 17 languages. You can contact their customer service team to discuss any of its products, your trading needs, and expectations.

FxPro broker is very accessible in terms of trading platforms. FxPro trading allows you to trade on the go via its mobile application available for iOS and Android devices, and benefit from its ultra-low latency trading infrastructure, award-winning order execution, and deep liquidity. FxPro has:

  • Secure FxPro Wallet
  • MT4, MT5 & cTrader accounts
  • Variety of payment methods
  • Latest economic event calendar

You can find the FxPro accounts on:

  • Desktop
  • Web

Mobile App FxPro download

Security of Funds

FxPro is not an STP(Straight-Through-Processing) Broker.  FxPro provides post-execution and post-trade communication between traders having minimal impact on the speed or price of the trade that is offered to you.

FxPro is also not an Electronic Communication Network (ECN) Broker, which refers to the incognito communication between online traders resulting in the unguaranteed fills and pricing for you as the trader. Instead, FxPro fulfills your orders without dealing desk intervention. 

FxPro is adamant about being transparent and ethical across the online trading industry. For this reason, it has developed an award-winning model of fulfillment that meets both your demands as a trader and the ethical standards required by the trading industry.

In 2019, almost 90% of market orders were fulfilled at the requested price, and approximately 10% of FxPro’s client orders were fulfilled with positive slippage, leaving these clients with better prices than what they have bargained for.

More so, in 2019, only 0.68% of all instant orders received a requote with 0.32% of them receiving an even better price to fulfill their order at.
FxPro trading is executed at one of their Equinix Data centers in either London or Amsterdam. FxPro’s trading servers are cross fiber connected with top tier banks that provide liquidity via their proprietary aggregator Quotix.

FxPro Minimum Deposit Requirements

FxPro charges a spread on all of their products. On the cTrader platform, the FX spreads are generally lower, however, it does come with a fixed commission fee.

Rollover and dividend charges may also apply. You can review any differences in fees/trading conditions across each platform on the instrument specifications page on the FxPro website, as these vary seasonally.

FxPro also offers the classic Instant Execution account type in conjunction with the MT4 platform, with a fixed spread option available.

The FxPro MT4 account is spread only (0 commission) as a trading cost. Swaps or rollovers are however applied when a trade is kept open overnight.

 The trading cost for the cTrader account is a reduced spread plus $45 per $1 million traded for FX and Metals (when opening and closing). For Indices and Energies, the trading cost is determined by spread only (0 commission). However, swaps/rollovers are applied when a trade is kept open overnight.

The trading cost for the FxPro (EDGE) account is determined by spread only (0 commission) for all instruments. However, swaps/rollovers are applied when a trade is kept open overnight. 

FxPro Global Markets and Accessibility

FxPro charges a spread on all of their products. On the cTrader platform, the FX spreads are generally lower, however, it does come with a fixed commission fee.

Rollover and dividend charges may also apply. You can review any differences in fees/trading conditions across each platform on the instrument specifications page on the FxPro website, as these vary seasonally.

FxPro also offers the classic Instant Execution account type in conjunction with the MT4 platform, with a fixed spread option available.

The FxPro MT4 account is spread only (0 commission) as a trading cost. Swaps or rollovers are however applied when a trade is kept open overnight.

The trading cost for the cTrader account is a reduced spread plus $45 per $1 million traded for FX and Metals (when opening and closing). For Indices and Energies, the trading cost is determined by spread only (0 commission). However, swaps/rollovers are applied when a trade is kept open overnight.

The trading cost for the FxPro (EDGE) account is determined by spread only (0 commission) for all instruments. However, swaps/rollovers are applied when a trade is kept open overnight.

FxPro Global Markets and Accessibility

Knowing which assets are offered by a broker is vital for deciding about the broker that is right for you, according to the FxPro markets and instruments that you would like to explore.

FxPro has the most popular FX pairs including major global currencies which can be experienced in the highest trading volumes and liquidity.

FxPro uses MT4, MT5, and cTrader platforms which automatically adapt to your trading positions. If your volume per Instrument increases, the maximum leverage offered will automatically decrease. It applies to each of the trading instruments. 

Therefore, if you have positions open across multiple instruments, the leverage will be calculated separately on each forex symbol. For example, if you have 300 lots Buy on USDJPY and then start trading EURUSD, your margin requirement for EURUSD will not be affected by the existing USDJPY positions.

Please note that margin requirements for shares may be increased up to 5 business days prior to an upcoming company earnings report and/or corporate and/or other action.


Trading Accounts and Platforms Offered by FxPro

FxPro offers a variety of platforms and account types. Not only do they provide a range of top trading platforms, such as cTrader, MT4, MT5 & proprietary solutions, but they also offer different trading conditions, ensuring that you have a more personalized experience tailored to your needs. 

With more than 260 CFD assets in 6 different classes and excellent customer services and trading tools and systems, there is absolutely no way that FxPro is unable to meet your trading requirements. 

Before you decide which account you will be trading with, first consider: 

  • the product(s), and trading conditions of the products, that you want to trade
  • the execution type that the platform offers
  • and the features offered by the platform

FxPro has a platform that acts as an all-in-one solution that gives you access to all of the assets, with quality web and mobile accessibility, fulfilling your transactions with ease.

The key difference between MetaTrader4 (MT4) and MetaTrader5 (MT5) lies in the range of the CFD products that are available on each of the platforms. 

The MT4 platform allows you to open positions in all of the six asset classes, whereas the MT5 does not allow you to open positions in Shares, and cTrader does not allow you to open positions in Shares and Futures. 

The MT5 is a ‘netting’ platform by default. That means that trades are aggregated, and hedging is not possible. However, if you prefer a ‘hedging’ version of the platform FxPro is able to provide it once you have made the request for your convenience.

FxPro’s advanced trading technology and liquidity access allow the platform to provide quality execution in the market and maintain the standard of delivering excellent results. FxPro is a broker that allows for advanced trading using mechanical systems, technical indicators, and external analysis.

The MetaTrader range, MT5, and MT4 are the platforms of choice because they are the most user-friendly. However, should you want a larger range in terms of features the cTrader would be the way to go. 

If you are trying to get the full FxPro experience you can open more than one account type to test all the features and trading conditions that FxPro offers.

Below is a comparison with the key differences between each type of account that FxPro offers, along with a comparison of the platform features.

FxPro MT4:

  • CFD Instruments – Forex, Metals, Indices, Energies, Futures, Shares
  • Platforms Available – Metatrader 4 desktop, MT4 Webtrader, MT4 mobile app for iOS / Android
  • Trade Sizes – FX, Metals & Futures: 0.01+ (micro lots); Shares: 10+; Indices and Energies: 1+
  • Min Stop Levels – 1 pip minimum from current/entry price for most majors
  • Execution Type – Market Execution: tiered liquidity, orders are executed at the volume-weighted average price (VWAP)
  • Hedging by Default
  • 24/5 FX trading (halted between 10: 00 PM – 10: 01 PM UK time)
  • Execution Model – No Dealing Desk Intervention*
  • Stop Out – 50% (FxPro CY, FxPro UK); 20% (FxPro GM)

cTrader:

  • CFD Instruments – Forex, Metals, Indices, Energies
  • Platforms Available – cTrader Desktop, cTrader Webtrader, cTrader mobile app for iOS / Android
  • Trade Sizes – FX & Metals: 0.01+ (micro lots); Indices and Energies: 1+
  • Min Stop Levels – No minimum
  • Execution Model – Market Execution: tiered liquidity, orders are executed at the volume-weighted average price (VWAP)
  • Hedging by Default
  • 24/5 FX trading (halted between 10: 00 PM – 10: 05 PM UK time)
  • Execution Model – No Dealing Desk Intervention*
  • Stop Out – 50% (FxPro CY, FxPro UK); 30% (FxPro GM)

FxPro (EDGE):

  • CFD Instruments – Forex, Metals, Indices, Energies, Futures, Shares
  • Platforms Available – FxPro mobile app for iOS/Android FxPro EDGE web; MT4 platform ranges
  • Trade Sizes – FX, Metals & Futures: 0.01+ (micro lots); Shares: 10+; Indices and Energies: 1+
  • Min Stop Levels – 1 pip minimum from current/entry price for most majors
  • Market Execution: tiered liquidity, orders are executed at the volume-weighted average price (VWAP)
  • Hedging by Default
  • 24/5 FX trading (halted between 10: 00 PM – 10: 01 PM UK time)
  • Execution Model – No Dealing Desk Intervention*
  • Stop Out – 50% (FxPro CY, FxPro UK); 20% (FxPro GM)

Conclusion

Consider this FxPro review when making your decision about which broker is best for you. It is important to consider what accounts offered by FxPro best suits your needs as a trader, should it be the broker that you choose. 

Now that you have analyzed FxPro in its entirety, you are equipped to make a decision based on the trading accounts and features provided by FxPro and your own personal trading needs.