FxPro Trading Platform Review

FxPro provides UK-based clients with comprehensive CFD trading opportunities across a range of asset classes. These include forex, metals, shares, ETFs, and more.

FxPro Contact Information

FxPro is authorised and regulated by the Financial Conduct Authority (FCA) and maintains a strong commitment to regulatory compliance and client security. The broker’s pricing is competitive, with spreads from 1.2 pips on commission-free Standard accounts and from 0.0 pips on Raw+ accounts, where a $3.50 commission applies to forex and gold trades. The availability of spread betting is another perk.

For beginners, FxPro offers a demo account along with an array of educational materials. Beginners and experienced traders alike can contact customer support 24/5 via email, live chat, or phone.

Highlights of FxPro

• Diverse CFD Offerings: FxPro provides trading in over 2,100 CFDs, including currencies, stocks, indices, and ETFs, among others.
• Top-Tier Regulation: The broker operates under strict oversight from prominent regulatory bodies, including the FCA in the UK.
• No Dealing Desk Execution: FxPro offers no-dealing-desk (NDD) execution, facilitating rapid trade execution from 10+ leading liquidity providers.
• Client Fund Security: Client funds are held in segregated bank accounts that are distinct from the broker’s operational capital.
• Multiple Platform Choices: Traders can use MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, or FxPro WebTrader.
• Flexible Pricing Models: Commission-free Standard accounts or Raw+ accounts with tighter spreads plus commission.
• Comprehensive Educational Resources: FxPro supports traders with a wealth of learning materials, including courses, video tutorials, and daily market insights.

Advantages and Disadvantages of FxPro

Available Markets at FxPro

A comprehensive suite of contracts for difference (CFDs) awaits individuals who create an FxPro account. This broad selection includes forex, shares, spot indices, futures, spot metals, cryptocurrencies, exchange-traded funds (ETFs), and spot energies. Spread betting is also available on select markets.

FxPro’s commitment to NDD execution further enhances the trading experience, with order fulfilmenet often under 12 ms, sourced from top-tier liquidity providers.

Forex

FxPro enables clients to trade 70+ currency pairs, encompassing majors, minors, and exotic combinations. The broker utilises five-digit pricing that makes for more precise quotes, allowing users to enjoy low spreads. Furthermore, FxPro emphasises rapid order execution, with most trades completed in less than 11 milliseconds, ensuring minimal slippage in dynamic currency markets.

• 70+ currency pairs: Access to a wide range of major, minor, and exotic pairs.
• Five-digit pricing: Offers enhanced precision in quotes.
• Ultra-fast Execution: Trades are typically filled in under 11 milliseconds.
• No Dealing Desk (NDD): Ensures direct market access and transparent execution.
• Educational resources: Support for new traders to understand forex fundamentals.

Average Forex Spread at FxPro

Shares

With FxPro, users can trade stock CFDs, speculating on price movements of global companies without physically owning the underlying shares.

CFD trading enables profiting from both rising and falling stock prices. The platform offers access to stock CFDs from major companies in the US, UK, and other regions. This extensive selection, combined with ultra-fast order execution, provides a flexible way to participate in the stock market.

• 1,800+ stock CFDs: Users can trade on a vast selection of companies.
• No physical ownership: FxPro enables speculation on price movements without owning the underlying.
• Profit from both directions: Clients may go long or short based on market expectations.
• Ultra-fast execution: Ensures quick order fulfilment for stock CFDs.
• Diversification: Opportunities to diversify across various global equity markets.

Futures

Futures contracts allow you to agree on a price for an asset to be bought or sold at a specified future date, enabling traders to capitalise on anticipated price moves. FxPro provides CFDs on futures contracts. This includes a broad spectrum of instruments such as agricultural commodities (like cocoa and coffee), stock indices, and energies.

• Wide range of assets: Includes commodities, indices, and energies.
• Speculate on future prices: Traders can bet on the value of assets at a set time.
• Exposure to various markets: Helps spread risk across different market segments.
• Flexible positions: At FxPro, individuals can open buy or sell positions based on market forecasts.
• Educational content: The broker offers a range of resources that cover futures trading.

Energies

FxPro offers spot energy trading, providing access to some of the world’s most vital raw material resources. You can also speculate on the price movements of popular energy commodities such as Brent oil, WTI (West Texas Intermediate) crude oil, and natural gas via CFDs.

These markets are highly influenced by global supply and demand dynamics, making them attractive for short-term trading, especially during periods of increased consumption. FxPro’s platforms facilitate seamless trading of energy CFDs, allowing you to react quickly to market shifts.

• Key energy commodities: Trade Brent oil, WTI, and natural gas.
• Spot trading: You can engage with current market prices.
• Multiple Platforms: Energies are available to users who utilise MT4, MT5, cTrader, and the FxPro WebTrader.
• Short-term trading potential thanks to CFDs: CFDs on energies are ideal for capitalising on consumption surges.
• Demo account practice: Test energy trading strategies risk-free before live trading.

Metals

Metals are often considered “safe-haven” assets during economic uncertainty, making them a popular choice for both capital preservation and growth. FxPro enables traders to participate in metals trading through CFDs. The instrument selection includes popular choices like gold, silver, platinum, palladium, copper, lead, and zinc. Leverage caps stand at 1:20 for gold, and 1:10 for other metals. Note that these limits apply to retail UK clients.

• Diverse metal selection: You can trade gold, silver, platinum, palladium, copper, lead, and zinc.
• Safe-haven appeal: Popular for capital preservation during instability.
• Competitive spreads: Spreads start at 12 points (gold).
• Variable leverage: Leverage differs based on metal type and client category, with retail gold traders being able to use leverage of up to 1:20.
• Demo account available: Practice metal trading without financial risk.

Indices

FxPro allows clients to trade CFDs on popular global stock indices, offering exposure to the performance of entire market segments. Traders can speculate on indices like the DAX 30, Dow 30, S&P 500, FTSE 100, FTSE 250, Euro Stoxx 50, and Nikkei 250.

Trading indices are favoured by many FxPro clients due to their transparent terms, accurate quotes from multiple liquidity providers, and comprehensive analytical tools. The platform supports various trading styles, including scalping, hedging, and swing trading, and allows the use of Expert Advisors (EAs).

• Major global indices: Access to popular stock market benchmarks.
• Comprehensive terms: Transparent trading conditions for indices.
• Accurate quotes: Prices sourced from multiple liquidity providers.
• Supports various strategies: The broker accommodates scalping, hedging, and more.
• Expert Advisor (EA) compatibility: Traders can automate their strategies.

Cryptocurrencies

FxPro grants professional traders access to the dynamic cryptocurrency markets through CFDs. Crypto CFDs involve digital coins typically paired with USD, allowing users to trade price moves without owning digital asset. If you plan on trading at FxPro, keep in mind that retail clients are excluded from crypto trading due to UK regulations.

• Crypto CFDs: Speculate on digital asset price movements.
• Professional client access: Available only to professionals.
• USD pairings: Users can trade cryptocurrencies against the US dollar.
• Leverage flexibility: Professional clients have access to high leverage.

ETFs

Exchange-Traded Funds (ETFs) can be traded via CFDs at FxPro, offering a flexible way to gain exposure to diverse asset classes without needing to own the actual fund. This means you can buy or sell ETFs and potentially profit from both rising and falling markets. FxPro’s selection of ETF CFDs spans various categories, including bonds, commodities, currencies, equities, real estate, and volatility.

• ETF CFDs: ETFs are traded without physical ownership.
• Diversification benefits: Exposure to a wide range of assets in one trade.
• Two-way trading: Thanks to contracts for difference, it is possible to profit from both upward and downward market movements.
• Leverage availability: Amplified market exposure with leveraged positions.
• Global market access: Various sectors across international markets can be explored.

Trading Costs at FxPro

Understanding trading costs is a critical component of successful trading. Before executing any trades, individuals should thoroughly investigate a brokerage’s fee structure, which includes both direct trading charges and other administrative costs. At FxPro, potential fees include spreads, commissions, and inactivity costs, to name a few. Below, we offer a comprehensive overview of these surcharges and more, aiming to help traders accurately assess the overall cost implications of their activities with FxPro.

Spreads

The bid-ask spread represents a fundamental trading cost, directly embedded within the quoted price of a financial instrument. A wider differential between the buying and selling price translates to higher immediate expenses for the trader.

FxPro’s Standard account uses a spread-only model. For instance, EUR/USD features spreads from 1.4 pips (avg. 1.43). GBP/USD has a minimum spread of 1.6 pips. Gold spreads start at 25 cents.

Users choosing FxPro’s commission-based accounts Raw+ accounts can see spreads as low as 0.0 pips, plus commission. Other account types, like cTrader and FxPro Vip Premium, also present competitive spread offerings. cTrader users will find that the minimum spread of both EUR/USD and GBP/USD drops to 0.4 pips.

Commissions

FxPro charges $3.50 per side per standard lot on its Raw+ and cTrader accounts. This cost applies only to forex majors and gold, while other instruments’ spreads are marked up and commission-free.

This commission structure means that a standard lot trade (100,000 units) on a commission-based account incurs a total charge of $7.00 for a round turn (opening and closing the position). For smaller trade sizes, such as a mini lot (10,000 units), the round-turn commission reduces to $0.70, and for a micro lot (1,000 units), it is $0.07.

Overnight Fees/Financing Charges

Overnight fees (swap/rollover) apply when leveraged positions are held past the trading day. This charge or credit is influenced by prevailing market conditions and the interest rate differentials between the currencies comprising a specific pair.

FxPro’s institutional partners are responsible for calculating these daily rates, utilising sophisticated risk-management analytics that result in each currency pair having its unique swap charge. Traders can easily ascertain the applicable swap charges for any given position by navigating to the ‘Market Watch’ window within their MetaTrader platform, right-clicking on the desired product, selecting ‘Symbols,’ and then choosing ‘Specifications’ to view the detailed long and short swap rates. Importantly, FxPro does not impose any additional charges on top of these standard swap rates, ensuring transparency in this aspect of trading costs.

Do note that swap rates change on a regular basis. Thus, it is crucial to check out the exact figures each time you believe you may leave a position overnight.

Non-Trading Fees

In line with industry practices, FxPro does not charge for deposits. Similarly, the broker generally waives all withdrawal fees across its available payment methods.

However, banks or wallet providers may apply their own fees, separate from FxPro’s charges. Furthermore, FxPro explicitly states that clients who request withdrawals from e-wallet accounts without having engaged in any trading activity may be subject to additional fees.

Beyond funding and withdrawal, FxPro also implements an inactivity fee. A charge of $10, or its equivalent in the account’s base currency, is applied to accounts that remain dormant for a continuous period of six months.

Trading Platforms Supported by FxPro

FxPro provides its clients with a diverse selection of trading platforms, ensuring that traders can find an environment that suits their individual needs and trading styles. These platforms are designed to facilitate seamless execution of trades across various financial instruments, from foreign exchange to commodities and indices.

FxPro WebTrader

FxPro offers its proprietary platform, FxPro WebTrader. This platform is particularly well-suited for spread betting activities, granting access to currency pairs, precious metals, energy, futures contracts, and indices.

Customers will find it to be user-friendly, with an adaptable interface that traders can personalise to their liking. The WebTrader is broadly compatible, functioning effectively across various browsers on desktop and mobile devices alike.

• Dozens of Technical Analysis Indicators: A comprehensive suite of over 50 technical analysis indicators.
• Pending Orders: Support for four distinct types of pending orders.
• Various Chart Display formats: Six different chart display formats for detailed analysis.
• Chart Timeframes: Fifteen varied chart timeframes to observe market movements.
• Technical Analysis: Real-time market sentiment data for major currency pairs.

MetaTrader 4

MetaTrader 4 (MT4) is a legacy platform launched in 2005 and remains a go-to option for traders worldwide.

Its enduring popularity stems from a combination of an intuitive interface and robust trading functionalities, appealing to both seasoned professionals and those new to the markets. MT4 provides the essential tools required for in-depth market analysis, efficient order placement, and comprehensive position management.

When combined with FxPro’s advanced trading infrastructure and competitive pricing, MT4 delivers significant advantages to forex traders:

• Charting Capabilities: Extensive charting and analysis tools with 30 technical indicators. A selection of 24 analytical charting instruments is also available.
• Automated Trading: Capability for developing and deploying automated trading strategies through expert advisors (EAs).
• Single-Click Trading: Streamlined chart-based and single-click trading options.
• Trading Central: Seamless integration with Trading Central via a dedicated plugin.

MetaTrader 5

FxPro also provides access to MetaTrader 5, an enhanced iteration of its predecessor. MT5 retains all the fundamental capabilities found in MT4 while introducing a host of additional features and expanded functionalities.

The improvements include a significantly larger selection of timeframes and the crucial Depth of Market (DoM) feature, offering greater analytical depth. The platform is designed to feature a more comprehensive trading experience, supporting a broader range of financial instruments and analytical tools for sophisticated market participants.

• Level II Pricing: Advanced Level II/Depth of Market insights.
• Charting Capabilities: Flexible, detachable charts for customised workspace layouts.
• Economic Calendar: An integrated Economic Calendar to track market-moving events.
• Pending Orders: Six different types of pending orders for diverse strategies.
• Social Trading: Access to the vibrant MQL5 community for resources and collaboration.

cTrader

Known for its intuitive design and powerful built-in charting and trading tools, cTrader is another option for UK clients. This platform is engineered for rapid trade execution, ensuring that users can act swiftly on market opportunities.

cTrader facilitates effortless trading across all available financial assets, providing a streamlined and efficient experience. Developed by fintech innovator Spotware Systems Ltd, cTrader emphasises precision and a user-centric approach to trading.

Core features of the cTrader platform encompass:

• Order Types: Sophisticated order types, including trailing stop and break-even stop loss.
• Charting Capabilities: Four distinct chart types for visual market representation. More than 26 chart timeframes for granular analysis.
• Vast Range of Technical Indicators: Over 55 integrated technical indicators to aid decision-making.
• Analysis Tools: Market sentiment, economic calendar, and a news feed.

Mobile Trading at FxPro

FxPro provides a comprehensive mobile trading experience, offering both its own proprietary platform and support for popular third-party solutions like MetaTrader 4 (MT4). These mobile applications are designed to deliver the full functionality of their desktop counterparts, ensuring clients can manage their accounts and execute trades seamlessly from any location with internet access.

The FxPro mobile platform is equipped with a suite of advanced features to empower traders on the go. Users can access charting tools (TradingView-powered), including numerous technical indicators and drawing tools for in-depth analysis.

Beyond trading, the app facilitates efficient fund management, allowing for effortless opening and management of both demo and live accounts, instant fund transfers, and swift withdrawals. Prioritising security, the platforms incorporate high levels of data encryption, two-step authentication, and options for passcode and fingerprint access, adding multiple layers of protection for personal information and funds.

Additionally, an integrated economic calendar with push alerts for increased market volatility is also available. It helps traders stay informed about critical economic events and their potential impact on market movements.

The dedicated FxPro app, available for Android (requiring version 10.0 or newer) and iOS (requiring version 16.0 and up), can be easily downloaded from major app stores. The same applies to the applications of MT4/5 and cTrader.

Account Types Available at FxPro

FxPro provides a diverse range of trading accounts designed to suit various trading styles and experience levels. This section delves into the specifics of each account type, highlighting their unique features, benefits, and target users. From commission-free spread betting to professional-grade trading environments, FxPro aims to cater to a broad spectrum of client needs. Understanding these distinctions is crucial for traders seeking to optimise their strategies and maximise their potential in the financial markets.

Edge Spread Betting

For clients in the UK, the Edge Spread Betting account offers a distinct advantage, providing a way to participate in financial markets without the necessity of paying taxes. This account features flexible spreads with a small markup, ensuring cost-effective trading. It supports commission-free transactions across a wide array of instruments, including currencies, futures, indices, and precious metals.

• Minimal stake beginning at £0.10 per trade.
• No commission on trades.
• Access to various asset classes.
• Exclusive to FxPro Edge WebTrader.
• Supports hedging for position management.

MT4/5 Standard

The Standard MT4/MT5 account is a versatile option for traders seeking a balanced environment with competitive conditions. It offers swift execution and floating spreads, making it suitable for a variety of trading strategies across different asset classes. A modest initial deposit opens the door to trading forex, metals, and energies.

• Minimum deposit of £50.
• Zero commissions on trades with spreads from 1.2 pips (forex majors) and 25 cents (gold).
• Access to MT4 or MT5 platforms.
• Supports both hedging and netting.
• Includes forex, metals, indices, energies, and futures. Stocks and ETFs are available on MT5.

MT4/5 Raw+

The MT4/5 Raw+ account is ideal for traders who prioritise low spreads starting from zero pips. This comes with a clear commission structure, making it attractive for high-volume traders. It provides access to an extensive range of instruments, allowing for diverse trading strategies.

• Spreads can start from 0.0 pips when it comes to forex majors. For gold, the minimum spread is 10 cents.
• A fixed commission of $3.50 per side applies to major FX pairs and gold. Indices and energies are commission-free.
• Supports hedging on MT4.
• Offers a choice of hedging or netting on MT5.
• Includes various CFD instruments with specific commission structures.

cTrader

The cTrader account is tailored for users who prefer the intuitive and powerful cTrader platform. It offers transparent pricing with competitive spreads and a distinct commission model for specific assets. This account is particularly favoured for its advanced order types and analysis tools, and it supports hedging. cTrader accounts support micro lot trading.

• Commission-free trading on energies, indices, and cryptocurrencies.
• Commission of $3.50 per side per standard lot when it comes to forex and metals.
• Lower spreads on FX and metals due to no markup.
• Does not support trading in stocks or ETFs.
• No minimum stop/limit levels.

Professional Trading Account

Experienced traders meeting specific criteria can opt for a Professional Trading Account, which offers enhanced trading conditions. This account provides higher leverage and certain regulatory waivers, catering to those with substantial trading activity and financial knowledge. Despite the waivers, it retains crucial protections like negative balance protection. This is a rarity among forex brokers catering to UK traders.

• Leverage cap of up to 1:500.
• FxPro offers negative balance protection to professionals.
• Ability to revert to retail status.
• NDD execution.
• Eligibility: meet 2 of 3 categories: significant transactions (10+/quarter over the last 4 quarters), portfolio ≥ €500,000, or ≥ 1 year professional experience in finance.

VIP Trading Account

The VIP Trading Account is designed for high-net-worth individuals and high-volume traders, offering premium benefits and preferential trading conditions. This exclusive account provides significant cost savings and additional resources to enhance the trading experience. Eligibility typically requires a substantial deposit.

• Up to 30% reduction on market spreads.
• Complimentary access to a Virtual Private Server (VPS).
• Reduced commission on cTrader accounts (up to 30%).
• Access to premium trading conditions.
• Requires a minimum deposit of $50,000 (or GBP equivalent) to qualify.

Demo Account

FxPro offers a robust demo account, providing a risk-free environment for both new and experienced traders. It allows users to practice strategies and familiarise themselves with the platforms by using virtual funds, mirroring real-time market conditions. This is an invaluable tool for skill development and strategy testing.

• Virtual funds of up to 100,000 units of the user’s base currency.
• Real-time pricing data.
• Accessible across all FxPro platforms.
• Valid for 180 days from activation.
• Offers various educational resources and tools.

Customer Support at FxPro

FxPro places a strong emphasis on providing reliable and accessible customer support, ensuring UK clients can get timely assistance with their trading needs. The broker’s dedicated team is available throughout the workweek to address general inquiries, technical issues, and account-specific questions. This commitment to client service is evident through various convenient contact methods designed for quick responses, minimising potential disruptions to trading activities.

The options include a highly responsive Live Chat service that typically provides assistance in under 30 seconds, in our team’s experience. For those who prefer direct conversation, telephone support is also available, with a callback option for added convenience. Additionally, email inquiries are handled promptly, usually receiving a response within a few hours.

FxPro also maintains a comprehensive FAQ section on its website. There, users will find instant answers to common questions about accounts, deposits, withdrawals, and platform usage.

Regulatory Background and Compliance

FxPro operates under a robust regulatory framework, and in the UK, it is subject to oversight of the Financial Conduct Authority (FCA) under license number 09956. This comprehensive regulation signifies adherence to high industry standards and offers a strong indication that client funds are managed with utmost security.

Apart from the FCA, FxPro is authorised to operate in a range of other jurisdictions. The regulators that supervise FxPro’s operations include the SCB (Bahamas, international operations), CySEC (Cyprus, Europe), FSCA (South Africa), and FSA (Seychelles).

Beyond regulatory adherence, FxPro implements several key measures to safeguard client assets. All client funds are strictly segregated from the company’s operational capital and held in separate accounts with major international banks, ensuring they cannot be used for the firm’s own purposes.

Furthermore, FxPro provides negative balance protection, so clients cannot lose more than their deposits. Depending on the regulating entity, clients may also benefit from investor compensation schemes. In the UK, the figure stands at £85,000.

*Crypto trading is reserved strictly for professionals at FxPro’s UK entity

Client Security at FxPro

FxPro prioritises the security of its clients’ funds and personal information through a robust framework of regulatory compliance and advanced technological safeguards. Operating under the strict oversight of multiple financial authorities, including the FCA in the UK and CySEC in Cyprus, FxPro demonstrates a strong commitment to adhering to stringent industry standards. Crucially, FCA-mandated safeguards include fund segregation and negative balance protection.

Beyond regulatory adherence, FxPro employs sophisticated security measures to protect client data. This includes high-level data encryption on all platforms and applications, ensuring that sensitive personal details are securely stored and inaccessible to unauthorised parties. The company also implements two-step authentication, passcodes, and Touch ID options within its mobile app.

FxPro’s security page also features a guide on steps users can take to avoid compromising their security. The tips encompass instructions on how to determine if a website is suspicious or fraudulent, how to keep one’s passwords strong, and the like.

What UK Traders Say about FxPro?

FxPro has garnered a strong reputation on Trustpilot, evidenced by an impressive aggregate score of 4.3/5, derived from over 1,000 customer submissions. A significant majority, 60%, awarded the broker the highest 5-star rating. In contrast, only 12% gave it a single star.

Customer feedback highlights a diverse range of experiences. Many praise the extensive selection of tradable instruments, while other positive remarks frequently cite consistent service quality, range of educational resources that foster thoughtful trading decisions, and exceptionally fast customer support response times. However, some negative feedback cites withdrawal delays and connection issues. Despite these concerns, FxPro actively engages with both positive and negative feedback, offering further assistance when necessary.