FxPro is a well-established online trading platform that has garnered attention from traders worldwide. Founded in 2006, the broker has built a reputation for offering a wide range of financial instruments, advanced trading tools, and a user-friendly experience. In this review, we’ll take a closer look at what makes FxPro stand out in the competitive world of online trading, examining its features, pros, cons, and overall suitability for different types of traders.
Overview of FxPro
FxPro is a global broker that provides access to a variety of markets, including forex, stocks, indices, commodities, cryptocurrencies, and futures. The platform is regulated by several reputable financial authorities, including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. This regulatory oversight ensures a high level of security and transparency for traders.
Key Features of FxPro
- Multiple Trading Platforms
FxPro offers a choice of trading platforms to cater to different trading styles and preferences. These include:- FxPro MetaTrader 4 (MT4): A popular platform among forex traders, known for its user-friendly interface and advanced charting tools.
- FxPro MetaTrader 5 (MT5): An upgraded version of MT4, offering additional features such as more timeframes, technical indicators, and asset classes.
- FxPro cTrader: A platform designed for ECN trading, offering tight spreads, fast execution, and a clean interface.
- FxPro Trading Platform: The broker’s proprietary platform, which is web-based and accessible from any device.
This variety ensures that both beginner and experienced traders can find a platform that suits their needs.
- Wide Range of Instruments
FxPro provides access to over 2,100 financial instruments across six asset classes. Whether you’re interested in trading major forex pairs, exploring cryptocurrencies like Bitcoin and Ethereum, or diversifying with stocks and commodities, FxPro has you covered. - Execution and Spreads
FxPro is known for its fast execution speeds, with over 85% of orders executed in less than 13 milliseconds. The broker offers both fixed and variable spreads, depending on the account type and platform. Spreads are competitive, especially on the cTrader platform, which is tailored for ECN trading. - Leverage and Account Types
FxPro offers leverage of up to 1:500, depending on the regulatory jurisdiction and asset class. Traders can choose from several account types, including:- FxPro MT4/MT5 Accounts: Available in both fixed and floating spread options.
- FxPro cTrader Account: Designed for ECN trading with tight spreads and commission-based pricing.
- FxPro Edge Account: A unique account type that combines elements of both MT4 and cTrader.
- Educational Resources and Tools
FxPro provides a wealth of educational materials, including webinars, video tutorials, and articles, making it a great choice for beginners. Additionally, the platform offers advanced tools like economic calendars, trading calculators, and market analysis to help traders make informed decisions. - Mobile Trading
FxPro’s mobile apps for MT4, MT5, and cTrader are highly rated, offering full functionality for trading on the go. The apps are available for both iOS and Android devices.
Pros of FxPro
- Regulation and Security: FxPro is regulated by multiple top-tier authorities, ensuring a safe and transparent trading environment.
- Diverse Asset Selection: With over 2,100 instruments, traders have ample opportunities to diversify their portfolios.
- Advanced Trading Tools: The availability of MT4, MT5, and cTrader caters to a wide range of trading styles.
- Fast Execution: FxPro’s execution speeds are among the best in the industry.
- Educational Resources: Comprehensive learning materials make it beginner-friendly.
Cons of FxPro
- Inactivity Fees: FxPro charges an inactivity fee of $15 per month after six months of no trading activity.
- Limited Cryptocurrency Options: While FxPro offers crypto trading, the selection is smaller compared to dedicated crypto exchanges.
- No Passive Trading Tools: FxPro does not support copy trading or social trading features, which may be a drawback for some traders.
User Experience
FxPro’s platform is designed with user experience in mind. The interface is intuitive, and the availability of multiple platforms ensures that traders of all levels can find a comfortable environment. Customer support is available 24/5 via live chat, email, and phone, with support offered in multiple languages.
Who Is FxPro Best For?
FxPro is an excellent choice for:
- Forex Traders: With tight spreads and fast execution, FxPro is ideal for forex trading.
- Advanced Traders: The availability of MT5 and cTrader caters to experienced traders looking for advanced tools.
- Beginners: The educational resources and demo account make it easy for new traders to get started.
However, traders looking for passive trading options or a wider range of cryptocurrencies may need to explore other platforms.
Conclusion
FxPro is a reliable and versatile trading platform that offers a wide range of features and tools to suit different trading styles. Its strong regulatory framework, fast execution, and diverse asset selection make it a top choice for many traders. While there are some drawbacks, such as inactivity fees and limited crypto options, the overall experience is positive. Whether you’re a beginner or an experienced trader, clicking FxPro is worth considering for your trading needs.
