FxPro Review 2023
For this FxPro review, we have opened a standard account with the broker and deposited over €5,000.
We traded the popular instrument in each market to get the real spreads and placed a total of 15 trades.
We also reached out to customer support to solve the issues we faced.
Finally, we withdrew our funds to see if there are any issues with the withdrawal process.
What is FxPro?
FxPro is a forex broker from the UK and was founded in 2006.
The broker offers contracts for differences (CFDs) across six asset classes: forex, shares, spot indices, futures, spot metals, and spot energies.
FxPro is licensed and regulated in multiple jurisdictions, including the United Kingdom, Cyprus, South Africa, and The Bahamas.
Some of the highlights of FxPro are:
| 🗺️ Authorised & Regulated in | UK, Cyprus, South Africa, The Bahamas |
| 🛡️ Is FxPro safe | Yes |
| 💰 EUR/USD Spread | 1.6 |
| 💳 Minimum deposit | US$100 |
| 💰 Withdrawal fee | US$0 |
| 🖥️ Trading Platform | MT4, MT5, cTrader, FxPro EDGE |
| 📈 Markets offered | Forex, Indices, Stocks, Commodities, Cryptocurrencies, Energies |
| 📉 Number of Products | 234 |
Licenses and Regulations
FxPro holds 4 regulatory licenses, including the reputed license from the UK’s Financial Conduct Authority (FCA). The other three licenses are from the regulators of Cyprus, South Africa, and The Bahamas.
The full list of FxPro licenses is below:
| Legal entity | Registered in | Regulator | License Number | Accepting clients from | Compensation Scheme Amount |
|---|---|---|---|---|---|
| FxPro UK Limited | United Kingdom | Financial Conduct Authority (FCA) | 509956 | United Kingdom | £85,000 |
| FxPro Financial Services Ltd | Cyprus | Cyprus Securities and Exchange Commission (CySEC) | 078/07 | EU | €20,000 |
| FxPro Financial Services Ltd | South Africa | Financial Sector Conduct Authority (FSCA) | 45052 | South Africa | No compensation scheme |
| FxPro Global Markets Ltd | The Bahamas | Securities Commission of The Bahamas (SCB) | SIA-F184 | Globally | No compensation scheme |
Cyprus-based legal entity FxPro Financial Services Ltd holds both the licenses from the Cypriot and South African regulators.
Is FxPro Safe?
Yes, FxPro is a safe broker.
The broker is regulated under the UK’s FCA, which offers compensations schemes of up to £85,000, and the CySEC, which offers a compensation scheme of €20,000.
For our tests, we opened standard MetaTrader4 and MetaTrader5 accounts with FxPro Financial Services Ltd which is regulated by CySEC. We deposited money, placed trades, and withdrew deposits for our tests.
We recommend you register your account under the regulation of the United Kingdom if that’s available in your jurisdiction.
Fx Pro Fees and Commissions
FxPro trading fees are built into spreads, which varies based on the account type.
Spreads for our trades with the standard account were floated around the average industry standard spreads for forex but were lower for stock CFDs.
FxPro Spread Charged in Our Trades
For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.
Our test is based on the FxPro MT4 and FxPro MT5 accounts. Forex spreads were consistent for our tests, but spreads for indices and commodities were fluctuating.
Details of our trades are shown below the table.
| Markets | Instruments | 1st trade | 2nd trade | 3rd trade | Avg. spread |
|---|---|---|---|---|---|
| Forex | EUR/USD | 1.55 | 1.55 | 1.55 | 1.6 |
| Indices | FTSE 100 | 1.65 | 1.4 | 1.95 | 1.7 |
| Stocks | Apple | 0.6 | 0.61 | 0.61 | 0.6 |
| Commodities | Gold | 3.25 | 2.85 | 3.15 | 3.1 |
| Futures | UKOil_K21 | 0.6 | 0.55 | 0.5 | 0.6 |
Our testing finds that forex spreads on MT5 account are around the industry average, while spreads for indices are higher than the average benchmark.
Stock spreads on MT4 account are significantly lower than the industry average.
| Markets | Instruments | Avg. spread charged in our trades | Industry avg. spread |
|---|---|---|---|
| Forex | EUR/USD | 1.6 | 1.16 |
| Indices | FTSE 100 | 1.7 | 1.65 |
| Stocks | Apple | 0.6 | 1.75 |
| Commodities | Gold | 3.1 | 3.53 |
| Futures | UKOil_K21 | 0.6 |
Other Fees
FxPro does not charge any prominent non-trading fees.
There is no fee for any deposits on the broker, and most of the withdrawals are free.
Withdrawal requests on wallets like PayPal, Skrill, and Neteller are chargeable if they are without making any trades. Additionally, refunds are charged if requests are made after 6 months of deposits.
FxPro charges a monthly account inactivity fee of $5 after 6 months of inactivity.
FxPro Account Types
FxPro offers multiple accounts based on the trading platforms and execution type.
Details of all FxPro accounts are:
| FxPro MT4 Instant | FxPro MT4 | FxPro MT5 | cTrader | FxPro (EDGE) | MT4 fixed spread | |
|---|---|---|---|---|---|---|
| Trading Platforms | MetaTrader 4 | MetaTrader 4 | MetaTrader 5 | cTrader | EDGE, MetaTrader 4 | MetaTrader 4 |
| Account Currency | USD / EUR / GBP / CHF / PLN / AUD / JPY / ZAR | USD / EUR / GBP / CHF / PLN / AUD / JPY / ZAR | USD / EUR / GBP / CHF / PLN / AUD / JPY / ZAR | USD / EUR / GBP / CHF / PLN / AUD / JPY / ZAR | USD / EUR / GBP / CHF / PLN / AUD / JPY / ZAR | USD / EUR / GBP / CHF / PLN / AUD / JPY / ZAR |
| Minimum deposit | $/€/£ 100 | $/€/£ 100 | $/€/£ 100 | $/€/£ 100 | $/€/£ 100 | $/€/£ 100 |
| Commission | $90 per $1 million traded | |||||
| Order execution | Instant Execution | Market Execution | Market Execution | Market Execution | Market Execution | Instant Execution |
| Spread | From 1 | From 1 | From 0.1 | From 0 | From 0.1 | Average 1.84 |
Account Opening
Our overall experience of opening a new account with FxPro was quick and smooth.
We opened a FxPro MT4 account and a FxPro MT5 account for our tests under the CySEC-regulated entity.
The process of registration of a new FxPro account:
- Enter the country of residence, first name, last name, email, and password on the registration page.
- Enter personal details: nationality, date of birth, and phone number.
- Enter your residential address.
- Provide employment information: employment status, industry, employment position, and level of education.
- Provide financial information: annual income, estimated net worth, source of wealth, country of origin of funds, and expected yearly deposits on FxPro.
- Answer to questionnaires like the reason for opening an account with FxPro and US resident status.
- A short quiz on trading experience.
- Setup account type, leverage limit, and base currency.
We submitted the following documents to verify our FxPro account:
- Copy of national identification (both front and back)
The registration process took around 7 minutes. Our account was verified on the same working day.
Our account was registered on February 8, 2023, and approved on the same day.
Our overall account opening experience was smooth and without any issues from registration to verification.
Deposit and Withdrawal
Both deposits and withdrawals on FxPro are easy and fast. All our funding and withdrawal requests were completed without any issues.
Minimum Deposit
All accounts of FxPro require a minimum deposit of $/€/£50 for all its account types.
Traders only need to maintain the minimum deposit balance in their accounts.
Deposit
FxPro supports a wide range of deposit methods, including credit and debit cards, bank transfers, and others. Deposits with online wallets like PayPal, Skrill, and Neteller are not available on the UK-registered entity.
We tested the deposit process on FxPro using multiple payment modes.
There was no deposit fee and the fundings were completed instantly or within a few hours.
Details of our fund deposits are shown in the below table.
| Payment Method | Submitted Date | Funded Account Date | Funding Time | Fee |
|---|---|---|---|---|
| Credit card | 2023-02-09 | 2023-02-09 | 3 mins | zero |
| PayPal | 2023-02-09 | 2023-02-09 | Instant | zero |
| Skrill | 2023-02-09 | 2023-02-09 | Instant | zero |
| Neteller | 2023-02-09 | 2023-02-09 | 5 hours | zero |
FxPro verified our phone number when we attempted funding with Neteller. The broker emailed us to check if the provided phone number was correct and then verified with a quick call.
Neteller deposit was delayed due to this verification process.
FxPro Withdrawal Review
FxPro allows withdrawals via credit/debit cards, bank transfers, and a few other methods. Similar to deposits, the online wallet options are not available under the UK entity.
The broker does not charge any fees for withdrawal, but with some expectations. A fee of up to 2.6% is charged for withdrawal requests if the proceeds were not traded with or 6 months after funding.
Overall, our experience with FxPro’s withdrawal process was positive. The requests were smooth and fulfilled within the promised time.
Details of our withdrawal requests are in the table below.
| Payment Method | Submitted Date | Fund Released Date | Fund Arrived Date | Withdrawal Time | Fee |
|---|---|---|---|---|---|
| Credit card | 2023-02-10 | 2023-02-10 | 2023-02-11 | 1 working day | zero |
| Skrill | 2023-02-10 | 2023-02-10 | 2023-02-10 | Instant | zero |
| PayPal | 2023-02-10 | 2023-02-10 | 2023-02-10 | 1 hour | zero |
Markets and Products
FxPro offers CFDs trading services in forex, indices, stocks, commodities, and cryptocurrencies markets.
The broker is known for its forex offerings, but its offerings in indices are also good.
The complete list of FxPro offerings are:
| Markets | Instruments |
|---|---|
| Forex | 70 |
| Indices | 19 |
| Stocks | 134 |
| Commodities | 7 |
| Cryptocurrency | 4 |
Cryptocurrency trading is only available under The Bahamas-regulated FxPro Global Markets Ltd.
Trading Conditions
FxPro offers excellent trading conditions. It allows both hedging and scalping strategies.
| Trading Method | Allowed |
|---|---|
| Hedging | Yes |
| Scalping | Yes |
| Change Leverage | Yes |
Leverage
Leverages offered by FxPro on various asset class are standard, as per the regulatory requirements, and are detailed below:
| Markets | FxPro UK Limited | FxPro Financial Services Ltd (CySEC) | FxPro Global Markets Ltd |
|---|---|---|---|
| Major Currency Pairs | 30:1 | 30:1 | 200:1 |
| Non-Major Currency Pairs | 20:1 | 20:1 | 200:1 |
| Gold | 20:1 | 20:1 | 200:1 |
| Other Commodities (except Gold) | 10:1 | 10:1 | 200:1 |
| Indices | 5:1 | 5:1 | 200:1 |
| Stocks | 5:1 | 5:1 | 25:1 |
| Cryptocurrencies | NA | NA | 20:1 |
FxPro Trading Platform
FxPro offers trading on both industry-leading platforms and its proprietary platform. All trading platforms offered by the broker are:
- MetaTrader4
- MetaTrader5
- cTrader
- FxPro (EDGE) (Proprietary platform)
The account types offered by the broker depend on the platform, execution type, and fees.
Both third-party platforms are available on desktop, web, and mobile, but FxPro (EDGE) does not have a desktop client.
Research and Tools
FxPro offers excellent market research and analysis tools.
Some of the tools offered by the broker are:
- Algorithmic trading support
- VPS for forex trading
- Forex trading calculator
- Economic calendar
- Trading indicators and charting tools
- Market analysis
- Newsfeed
The charting tools offered by the broker are excellent.
On the downside, FxPro does not offer fundamental market data or trading signals.
FxPro Quant
FxPro’s Quant Strategy Builder allows traders to build auto-trading strategies with technical indicators, logical functions, and mathematical operators. The strategies can be saved as both MT4 EAs and cTrader robots.
Education
FxPro offers good quality educational resources to traders. Its educational section is divided for beginner and advanced traders.
Some of the educational materials offered by the brokers are:
- Text-based tutorials
- Video tutorials on trading
- Explainaire videos for tools
- Demo account
Customer Service
FxPro has excellent customer support.
Traders can contact the broker via:
- Live chat
- Phone (only with a callback request)
Our experience with FxPro customer support was good. The representatives were quick to respond on both live chat and email with accurate answers.
| Question | Response Time | Quality of reply | |
|---|---|---|---|
| Live Chat | About cryptocurrency trading support on MT5 | 2 min | Clear and accurate |
| About fund transfer from one account to another | 1 hour | Clear and detailed |
We recommend traders contact FxPro on email for trading or funding-related issues as the responses are very detailed.
FxPro provides customer support in multiple languages.
The broker also has a detailed FAQ section for frequently faced issues.
Conclusion
Our overall experience with FxPro was excellent.
The broker offers forex spreads at the average industry level, but the execution speed was fast.
Deposit and withdrawal processes were also smooth, and the broker verifies the trader’s information on the phone during the deposits, which is good.
The customer support was also excellent with fast, accurate, and detailed responses.
We recommend FxPro to forex traders who run EA as their strategy.
We recommend FxPro for traders who are
- Beginners in trading
- Experienced traders who want to join the Popular Investor program
- Trading Currency pairs and Cryptocurrencies
- Scalping trader
- Hedging trader
- EA trader
FxPro might not be a fit if you are
- Professional traders who lok for large portfolio
- Commission based trading
Author of this review
By George Rossi
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Now I am passionate about reviewing and comparing forex brokers.
Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology
51 replies on “FxPro Review 2023”
I am a new client of this company. Trading with them for only one month. I want to note that I enjoy their customer support. The staff is friendly and patient. They explained to me all the conditions in detail and helped to open an account. Easy deposit process. So far I like their approach to the business.
I was lucky to choose FxPro when I began trading. Reliable service with reasonable conditions. The trading platform is fast and very easy to use. Scalping is allowed. Never had any issues with the withdrawals, execution, or someone else.
Imho, fxpro is quite reliable and safety broker that is well regulated and give access to multiple types of trading platforms and accounts. I consider that necessary to mention three main things that I like in this broker. They offer very tight spreads, great customer service and speedy transactions (deposit/withdrawal).
FxPro is one of the few solid brokers for professional trading with an affordable minimum deposit size. I like their cTrader platform. There is no requotes and spread from 0 pips.
I’m trading with FxPro for a while now and I’m satisfied. They provide a lot of useful tools that other brokers do not offer and very good mobile platform. Transactions via PayPal are fast and smooth.
I have been trading with them for years and although I tried working with different brokers, I have to say that I am never as satisfied as I am here
I have tried so many broker but this one seemed to be very reliable among other regulated companies. I aslo liked the fast order execution. It’s favorable enough in a long run.
This broker became attractive in my eyes recently after they added more cryptos. Earlier they didn’t offer too many cryptos. Now this choice is very good and it was the reason for me to register a real account. I especially appreciate the possibility to trade such coins as Filecoin, Uniswap, Solana, and Tezos.
Lately, I prefer to work with fxpro as they are quite reliable and have a good reputation. Everything is done here to help the trader: lots of useful information on the website, convenient platforms, fast and safe withdrawals, what else can be desired? Now I am satisfied with the services and don’t want to change FxPro for any other forex broker.
Famous and well-regulated forex brokers. I feel safe with them. My funds are insured. And broker doesn’t interfere in the trades. Execution is fast and fair. Also, there is no commission on the withdrawals through the credit card.
I definitely convinced that Fxpro more than good company to trade. I used most of their tools and two platforms, so I can confirm their service is reliable and good for traders. No matter what kind of assets do you use. Of course, there is always the risk of loss when trading CFDs
I agree with you. Risks is the first thing you should care about in trading. No matter how good your broker you should know trading itself
It’s time for me to share opinion with you.
(I have been trading with them for 4 months and a little more).
1. My respect for the choice of assets
2. If you have difficulty with capital control – try their calculator – it allows you to correctly manage the situation with the size of the order and with the margin (free).
3. 4 Platforms are great, but, it didn’t become something important for me – I used to trade on MT and use it only
Hey, man, don’t be so conservative. Try different platforms. You need to try everything in your life. There won’t be such opportunity in the afterlife.
Plus fxpro offers cool array of platforms beside the mt. Check the fxpro platform, it’s very well-designed. And by the way it is complied with metatrader, so that you can use any MT platform within the fxpro terminal. Good stuff!
cTrader is also worth some attention. I’m not a ctrader specialist, to be honest. However, they say ctrader is a beast when it comes to auto trading. Great number of autobots available inside the platform. Anyways, expose yourself to something new everyday.
fx pro is just what i needed. trading crypto and shares at one place and trading platform with nice mobile app – great combination to start
check out the list below, which I have prepare for you in order to trade with this broker.
1) You prefer classical platforms? Choose MT platforms. You adore something more exclusive? Take a look at cTrader platform
2) Leverages vary from assets to asset, choose the most preferable for you and your strategies
3) Education – is the most beneficial thing for traders. Here are the courses for all types of traders.
Briefly. Laconically. Correctly.
You are entirely right my friend.
If a trader wants something exclusive, then he can choose not only cTrader platform, but also FxPro platform, which the broker developed specifically to show its might and to prove that traders can trade not only using MT4/5.
I would like to say that FXPRO is a good broker for algorithmic trading. FXPRO proved that I can trust them and even if I have some difficulties with my account their customer support is trying to fix all the problems promptly.
Good broker. Terms and conditions are clear, with nothing hidden. Fast and user-friendly platform, transparent execution without frauds. All EA’s are allowed. So far, satisfied.
fxpro is definitely is on a top brokerage services provider. i trade here since 2018 and it was a right choice! i trade resistance and support levels on 5m/1h time frames all possible markets and instruments. my trading platform is ctrader which help me to use automate services sometimes
I have a good experience while working with them. Withdrawals are always on time. I use a debit card and skrill to withdraw my profit. Transactions are very fast.
I never had any major problems with my terminal and they provide very good trading soft, especially for algorithmic trading. Highly recommend fxpro.
Many thanks to customer service! They helped me solve my issue very quickly. I got detailed explanation, and I have no more questions! Thank you!
As an experienced, professional trader, FxPro was able to meet my standards and offer a great experience
Nice thing about FxPro, besides its large list of tradable products, is that it allows to use expert advisors on its trading platforms. Big part of my trading is algo, so that means much for me.
Fxpro is the broker that helped me to develop my first working strategy. So I have a deep connection with it. I don’t think I will be able to change fxpro broker for some other forex company. Besides, it is a great environment for traders.
I think I can share unique experience!
I’ve been trading with this broker for relatively little time. If I’m not mistaken, about 9 months.
I knew from FxPro reviews that broker offers different financial instruments for trading and provides customers with several trading platforms to choose from. I decided to find out which platform is more suitable for which asset.
I installed platform on my laptop and tried to trade each asset. Then I installed another platform or opened its web version and tried trading.
It took me about 3 weeks to do this whole experiment. To be honest with you, I earned almost nothing during that time and maybe even made some small losses. I ignored that. I was more interested in usability of platforms.
I finished my experiment and didn’t notice any fundamental difference in trading. That is, platforms do not differ in order of execution quality. I noticed difference only in interface.
Bottom line: all broker’s platforms are equally suitable for trading!
Joined this broker several weeks ago. The first impression is quite good. Very low spread, registration and funding process is easy and fast. Also, I had no problems with the execution until now
Under other equalities, Fx pro has one of the best client support among the forex brokers. at least the ones I have dealt with. Polite, instant to respond and it’s available in lots of languages.
I like fxpro because they provide a lot of trading opportunities for traders. There are several account types here, you can choose what you want and you can test it on the demo for free. The spread is pretty good, with fast withdrawals, well-timed and detailed analytics. I enjoy trading with them.
FxPro is definitely on of the most respective brokers because it cares about clients and always keep its services in progress. cTtrader trading platform is just another level and with expert advisors my trading become much more effective.
Does the broker allow to open a joint account?
They sure do. Just make sure that the users of the joint account have either a first-degree kinship, or they are a married couple. You can submit a request to their back office after registering individual accounts that you want to merge together. After that, the accounts turn into a single joint account.
wow, such a choice of trading platforms. it’s tough to believe that some brokers, like this one, offer such a convenience for traders.
I personally adore comparing platforms and then picking the best from the list.
I dunno whether traders are agree with me, but I never regret time on this process. genuine satisfaction, y’all know what I mean..
Thanks to fact that broker provides choice of ways to deposit and withdraw funds, I can use my e-wallet. It is very convenient because I trust only this way of money transfer. I also like that Fxpro protects personal data and clients’ funds in the most modern and efficient way.
I trust this broker because it has excellent reputation!
Licenses matter for me a lot. Guarantee that FxPro broker doesn’t have any issues with regulation. Everything is transparent and all the information can be found on their website.
I like Fxpro analysis, I trust them. Until now, always been in profit.
Everything about fxpro is great, they have plenty of stocks to trade and forex too, and the working conditions are very good for me. Highly recommend – good and reliable brokerage.
I am a very new trader with no experience. I like their support. They are very attentive and try to explain everything to me in detail. The site is also very informative with lots of useful information. Now I’m learning to trade on the Metatrader 4 demo account. Everything is very convenient and I enjoy that.
I found that TAGZ is a scam
That’s good that the broker offers trading accounts with market execution. It allows to avoid slippage. When choosing between requotes and slippage, I always choose requotes. However, I don’t have frequent requotes here. I know it’s impossible to exclude them completely for any broker, but it’s very easy to avoid them – avoid entering the market during breaking news releases. I also licke their custom platform.
Basically the recommendations say that Fxpro is suitable for all types of traders really. Beginners, scalpers, algo traders etc. and swing traders can trade at every forex broker. They are not very picky.
It’s true, fx pro is a people’s broker that has something for everybody. The most important is that it has a high degree of credibility. In the end that’s all that matters.
One of the best brokers in my 4 years of trading career. I have traded with several brokers and some of them brought me a strong headache. Last year, I started to work with FxPro and was very satisfied with my choice. Completely different levels of services.
One of the best brokers in my 4 years of trading career. I have traded with several brokers and some of them brought me a strong headache. Last year, I started to work with FxPro and was very satisfied with my choice. Completely different levels of services.
I opened an account with them in August last year and I have been trading since now. During this time I found them really reliable and client-oriented. They offer easy execution of trades, low spreads, modern platforms, and easy fast withdrawals. Good place for trading!
Security is paramount in online trading, and Fxpro has never disappointed. Their robust security measures ensure that my funds and data remain protected
The economic calendar provided by FXPro is a fantastic tool for tracking important events that could impact my trades. It’s a great resource for traders.
The economic calendar provided by FXPro is a fantastic tool for tracking important events that could impact my trades. It’s a great resource for traders.
FxPro commitment to continuous improvement is evident in the regular updates and enhancements to their trading platform. The platform evolves with the changing dynamics of the financial markets, ensuring that users have access to cutting-edge features. This dedication to staying at the forefront of technology enhances the overall trading experience with FxPro.
The platform’s customizable alerts keep me updated, but they need more refinement. Tailoring alerts to individual strategies would be useful. Support is responsive.
Having MetaTrader 4/5 and cTrader platforms offers flexibility in choosing trading tools and interfaces, optimizing my trading strategy.