FxPro is a competitive MetaTrader broker that offers multiple account options and various execution methods, as well as its own proprietary FxPro Edge app. While access to the BnkPro app is not yet available in all regions, it is a useful tool for traders. However, the primary drawback of FxPro is its higher-than-average pricing, which can make it less competitive compared to other low-cost forex brokers. This is an important consideration for traders who are cost-conscious and want to maximize their profits.
Trading Instruments
FxPro offers a range of trading instruments across several asset classes, including:
- Forex: Over 70 currency pairs, including majors, minors, and exotics.
- Shares: Over 150 US, UK, and EU stocks, including popular names such as Apple, Amazon, and Facebook.
- Indices: Over 25 global indices, including the FTSE 100, S&P 500, and Nasdaq 100.
- Futures: A selection of futures contracts, including gold, silver, oil, and natural gas.
- Metals: Precious metals, including gold, silver, platinum, and palladium.
- Energies: Energy commodities, including oil and natural gas.
This wide range of trading instruments provides traders with diverse trading opportunities, allowing them to potentially profit from different market conditions and trading strategies.
Trading Conditions
FxPro provides traders with competitive trading conditions, including tight spreads, high leverage, and multiple execution methods.
The average spread for EUR/USD is 1.3 pips for the MT4 and MT5 accounts, and 0.3 pips for the cTrader accounts. The leverage offered by FxPro varies by the account type, but can go up to 1:500.
Traders have access to multiple execution methods, including market execution, instant execution, and floating spread execution, allowing them to choose the execution method that best suits their trading style.
FxPro also offers negative balance protection, ensuring that traders will never lose more than their account balance. This is an important feature that helps to manage risk and protect traders’ funds.
Overall, FxPro’s trading conditions are competitive and offer a range of options for traders to choose from. The tight spreads, high leverage, and multiple execution methods make it an attractive option for traders looking to maximize their trading opportunities.
FxPro Account Types
FxPro offers several account types to cater to the needs of different traders, including:
- MT4 Account: This account type provides access to trade over 70 forex pairs, metals, and CFDs on indices, energies, and futures. It offers instant execution and a minimum deposit of $100.
- MT5 Account: This account type provides access to trade over 70 forex pairs, metals, and CFDs on indices, energies, and futures. It offers market execution and a minimum deposit of $100.
- cTrader Account: This account type provides access to trade over 70 forex pairs and CFDs on indices and energies. It offers ECN-style execution and spreads starting from 0 pips. The minimum deposit for this account type is $1000.
- FxPro Edge Account: This account type provides access to trade over 500 instruments across multiple asset classes, including forex, shares, and futures. It offers instant execution and spreads starting from 0.0 pips. The minimum deposit for this account type is $100.
- SuperTrader Account: This account type is an investment platform that allows traders to follow and invest in the strategies of successful traders. It requires a minimum investment of $2000.
Each account type has its own unique features, trading conditions, and minimum deposit requirements. Traders can choose the account type that best suits their trading style and preferences.
Regulation and Security
FxPro is a well-regulated broker, which operates under the oversight of several reputable regulatory bodies, including:
- Financial Conduct Authority (FCA) in the UK
- Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- Dubai Financial Services Authority (DFSA) in Dubai
- Financial Sector Conduct Authority (FSCA) in South Africa
These regulatory bodies enforce strict rules and guidelines to ensure that FxPro operates in a fair and transparent manner and meets strict financial standards, including the segregation of client funds.
In terms of security, FxPro employs a range of security measures to ensure that traders’ personal and financial information is secure. The website uses SSL encryption to protect data transmission and the servers are located in secure data centers with backup systems in place. FxPro also uses advanced firewalls and intrusion detection systems to prevent unauthorized access.
Additionally, FxPro provides negative balance protection, which ensures that traders will never lose more than their account balance, helping to manage risk and protect traders’ funds.
Conclusion on FxPro
Overall, FxPro is a well-regulated broker with a solid reputation and a range of trading platforms, including the popular MetaTrader and cTrader platforms. It offers a variety of pricing options across its account types and provides fully-transparent execution methods that vary by account type. However, its pricing is not as competitive as some other industry leaders, and its proprietary platform, FxPro Edge, needs to improve to compete with the best proprietary trading platforms.
Additionally, FxPro offers fewer symbols for forex and CFD traders compared to leading multi-asset brokers. Nevertheless, FxPro can be a good option for traders looking for a well-regulated broker with a range of trading platforms and pricing options.
FxPro has one of the most advanced websites worldwide. You can check the price action and trading conditions on any stock I can there there, see the global stock exchanges session times so you also know where and when you can buy and sell that asset. I mean, you can do all that on any of the platforms FxPro offers as well, but I don’t always have the time to log in.
What I do think is that trading in financial markets nowadays has an exponentially increasing complexity. You can’t just rely on a few assets and one single platform, you need a solid broker who is going to get more possibilities to make money for you. This is why I began to trade at fxpro in the first place, and frankly, they have been providing me with possibilities.