FxPro Forex Broker

FxPro Forex Broker - Complete Information Guide

1. Broker Overview

FxPro, founded in 2006, is a prominent online broker specializing in contracts for difference (CFDs) across various markets, including forex, stocks, indices, commodities, and cryptocurrencies. The company is headquartered in London, United Kingdom, with additional offices located in Cyprus, Monaco, and the Bahamas. FxPro operates as a private company and has established a strong reputation in the trading industry, serving over 2 million clients across 170 countries.

Since its inception, FxPro has achieved significant milestones, including executing over 600 million orders and being recognized as one of the most trusted brokers in the UK. The company has received numerous awards, including accolades for its trading platforms and overall service quality. FxPro is well-known for its commitment to providing a secure trading environment, with a focus on transparency and reliability.

The broker operates under a no dealing desk (NDD) model, which allows for direct market access and ensures that client orders are executed with minimal latency. This business model caters to both retail and institutional clients, offering a variety of trading solutions tailored to different levels of experience and trading strategies.

2. Regulatory and Compliance Information

FxPro is regulated by several reputable authorities, ensuring a high level of safety and compliance for its clients. The main regulatory bodies overseeing FxPro include:

• Financial Conduct Authority (FCA), United Kingdom (Registration No. 509956)
• Cyprus Securities and Exchange Commission (CySEC) (License No. 078/07)
• Financial Sector Conduct Authority (FSCA), South Africa (Authorization No. 45052)
• Securities Commission of the Bahamas (SCB) (License No. SIA-F184)

These regulatory bodies impose strict standards on the operations of FxPro, including requirements for client fund segregation, negative balance protection, and adherence to anti-money laundering (AML) and know your customer (KYC) regulations. Client funds are held in segregated accounts at major international banks, ensuring that they are protected from the broker's operational funds.

FxPro also participates in investor compensation schemes, providing additional security for clients in the event of insolvency. For instance, UK clients are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000, while clients under CySEC regulation are protected up to €20,000.

3. Trading Products and Services

FxPro offers an extensive range of trading products, providing clients with diverse opportunities to engage in the financial markets. The broker provides access to:

• 70+ Forex Pairs: This includes major, minor, and exotic currency pairs, catering to various trading strategies.
• CFDs on Indices: Traders can speculate on major global indices, including the UK 100, US 30, and more.
• CFDs on Commodities: FxPro offers trading on commodities such as gold, silver, oil, and agricultural products.
• CFDs on Shares: Clients can trade over 2,000 stock CFDs from major global exchanges.
• Cryptocurrencies: FxPro provides access to 28 cryptocurrencies, allowing traders to speculate on popular digital assets like Bitcoin and Ethereum.

The broker continuously updates its product offerings, ensuring that traders have access to the latest market trends and instruments. Additionally, FxPro caters to both retail and institutional clients, providing tailored services and solutions based on individual needs.

4. Trading Platforms and Technology

FxPro supports multiple trading platforms, ensuring that traders have access to the tools that best suit their trading styles. The platforms offered include:

• MetaTrader 4 (MT4): A widely-used platform known for its user-friendly interface and extensive features, including automated trading capabilities through Expert Advisors (EAs).
• MetaTrader 5 (MT5): An advanced platform that offers additional features such as more timeframes, order types, and improved analytical tools.
• cTrader: A sophisticated platform designed for algorithmic trading, providing advanced charting tools and a customizable interface.
• FxPro Edge: The proprietary trading platform that combines features from MT4 and MT5, designed for both beginners and experienced traders.

All platforms are available on desktop, web, and mobile devices, ensuring flexibility and accessibility for traders on the go. FxPros trading infrastructure is robust, with servers located in major financial hubs to ensure fast execution speeds, typically under 12 milliseconds.

5. Account Types and Trading Conditions

FxPro offers several account types to meet the diverse needs of its clients, including:

• Standard Account: Requires a minimum deposit of $100, offering competitive floating spreads without additional commissions.
• Raw+ Account: Designed for experienced traders, this account type features raw spreads starting from 0 pips with a commission of $3.50 per lot.
• Elite Account: Aimed at professional traders, this account provides similar features to the Raw+ account but includes exclusive rebates and VIP benefits, requiring a minimum deposit of $30,000.

All accounts support a variety of trading strategies, including scalping and algorithmic trading. FxPro also provides a demo account for beginners to practice trading without financial risk. Leverage options vary by account type and jurisdiction, with maximum leverage reaching up to 1:500 for professional clients.

6. Fund Management

FxPro provides a variety of convenient deposit and withdrawal options, ensuring that clients can manage their funds efficiently. Supported deposit methods include:

• Bank Transfers
• Credit/Debit Cards
• E-Wallets (such as PayPal, Skrill, Neteller)
• Cryptocurrencies

The minimum deposit requirement is $100, which applies to most account types. Deposits are processed quickly, typically within 15 minutes. FxPro does not charge fees for deposits or withdrawals, although third-party payment processors may impose their own fees.

Withdrawals are processed using the same methods as deposits, with most requests completed on the same day. This efficient processing time enhances the overall trading experience, allowing clients to access their funds promptly.

7. Customer Support and Educational Resources

FxPro offers comprehensive customer support, available 24/5 through various channels, including:

• Live Chat
• Email
• Phone Support

The support team is multilingual, catering to clients in over 20 languages, ensuring that traders can receive assistance in their preferred language. FxPro also provides a robust educational section, featuring resources such as:

• Interactive Courses: Covering fundamental and technical analysis, trading psychology, and risk management.
• Webinars: Regularly scheduled to assist traders in enhancing their skills and knowledge.
• Market Analysis: Daily reports and insights from in-house analysts and third-party providers.

These resources are designed to support traders of all experience levels, contributing to their overall success in the financial markets.

8. Regional Coverage and Restrictions

FxPro serves clients from over 170 countries, with a strong presence in Europe, Asia, and the Middle East. The broker has offices located in key financial centers, including London, Cyprus, and the Bahamas. However, FxPro does not accept clients from certain countries, including the United States, Canada, and several others due to regulatory restrictions.

In summary, FxPro is a well-established broker with a strong reputation, offering a wide range of trading instruments, platforms, and educational resources. The broker's commitment to transparency, security, and client support makes it a viable choice for both novice and experienced traders looking to navigate the forex and CFD markets effectively. With its regulatory compliance and robust trading infrastructure, FxPro stands out as a trusted partner in the trading industry.