Launched way back in 2006, FxPro is a reputable online FX and CFD brokerage, with more than a decade’s worth of experience under its belt. Having been around for so long, the brokerage garnered all sorts of reviews from its traders and various other parties, and indeed, some of these reviews are less than savory.
Overview
Among the “sins” listed by the broker customers’ feedback, there are a few instances which saw the broker try to manipulate its review score at various portals, through the posting of false positive reviews.
Other complaints include execution issues for successful traders, generic scam allegations and spread manipulation. Withdrawal issues have been reported as well as the discretionary closing of pending trades which are about to become winners.
As far as industry prestige is concerned though, FxPro could hardly be a more successful operation. It has scores of awards displayed in its virtual trophy-case at its website, ranging from Best FX Service provider to Best MT5 broker (picked up last year).
The regulatory profile of the brokerage is quite impressive as well. FxPro UK Ltd, the corporate entity behind the UK-based branch of the brokerage, is licensed by the FCA, through license #509956.
FxPro Financial Services Ltd is the company that supports the EEA-based branch of the operation. As such, it is licensed by the Cyprus Securities and Exchange Commission CySEC (license number: 078/07). The Financial Services Board (FSB) has also authorized the operation to provide services. Its FSB registration number is 45052.
In addition to all the above, FxPro Global Markets MENA Ltd. is also authorized by Dubai’s FSA (Financial Services Authority) under reference number: F003333.
The Bahamas’ SCB has also given its blessings for the deals peddled by FxPro. The SCB license number of the operation is SIA-F184.
The broker does not accept traders from the US and Canada.
Why would you make FxPro.co.uk your top FX/CFD trading destination?
The operator prides itself on what it calls its “client-centric approach”.
Through its services, the broker gives its clients access to scores of FX pairs as well as CFDs on no fewer than 6 asset-classes, for a total of more than 280 tradable assets.
Plentiful educational material is also on hand, together with an award-winning support staff, which can be reached 24/5.
Account Types
Several types of Demo Accounts are available to those who need it. These accounts can be had on cTrader, MT4 and MT5, featuring a maximum balance of 500,000, which can be recharged any number of times.
The Trading Accounts section features no fewer than 4 options, depending on the trading platform one uses. Thus, there are MT4, MT5, cTrader and Market accounts available. The spreads are floating on most of these accounts, with the exception of the MT4 one, where fixed spreads are featured as well.
The maximum leverage is 1:500 on every one of these accounts and they all support EAs or other auto-trading solutions, such as cTrader robots.
To register a Premium Account, one has to use a special form available at the site, to contact the FxPro support staff.
Premium accounts offer a free VPS service, no withdrawal/deposit fees, dedicated account managers and daily market analysis. Premium Account holders can participate in exclusive events as well.
To open a Premium Account, a larger-than-normal deposit is required.
Trading Platform/Software
As already said above, FxPro offer no fewer than 4 trading platforms. The selection is indeed quite impressive: MT4, MT5, cTrader and Markets Trader.
MT4 is without a doubt the best and most popular option. It offers a superb charting package, drawing tools and scores of preinstalled technical indicators. The platform can be downloaded directly off the FxPro website, for free.
MT5 is the natural evolution of MT4. As such, it takes some of the already useful features of the trading platform one step further still.
cTrader and Markets bring a slightly different take to the trading game. Mobile platform options are of course also available.
Deposit Options
The brokerage supports a fairly standard selection of deposit/withdrawal options, starting with Bank Wire and credit cards, and wrapping up with eWallets such as Skrill and Neteller. UnionPay is also accepted.
Markets
The markets covered by FxPro include Forex, Indices, Futures, Shares, Spot Energies and Spot Metals.
Customer Support
As mentioned above, the award-winning FxPro customer support is available 24/5. The support staff can be contacted through email, phone and live chat.
Safety
As far as financial transactions are concerned, FxPro is a very safe destination. Client monies are indeed kept in segregated accounts.
Final Thoughts
FxPro looks like a very solid trading destination. Though there are some problems in regards to user feedback, there’s quite a bit of positive feedback available as well. As far as market coverage and regulation is concerned, the broker is right up there with the best of them.
