|Min. Deposit100$||Demo AccountYes, Free|
- Free demo account.
- Four different platforms you can choose.
- Provides authoritative data and rich context on over 40 million companes.
Forex is one of the most widely traded markets, allowing you to trade almost any currency pair you want. With that comes the need for reliable platforms and benefits that can help in giving you an edge. FxPro is a Forex trading platform that allows you to utilize many different tools to access well-known Forex pairs, as well as many of the exotic pairs too. Beyond Forex, you can trade CFD’s on many of your favorite assets, allowing you to diversify your positions.
FxPro was founded in 2006 and has continued to expand and become one of the leaders in the Forex space. Voted ‘Best Broker’ by the Financial Times 2015-17, this brings a level of confidence you are working with some of the best in the industry. As stated, the company offers Contracts for Difference on six asset classes, giving you the ability to find what works best for you.
Another added benefit FxPro can offer is they provide four different platforms to trade on. They include FxPro MetaTrader 4, FxPro MetaTrader 5, FxPro cTrader and FxPro Edge. Having the variety to select the platform that best fits your needs is something many others simply cannot offer. With that, FxPro has continued with over ten year of excellence as a trusted broker in over 170 countries. There is a total of over 250 instruments to trade, which cover markets such as Forex, Spot Metals, and Futures. When trading, you want to ensure you have speedy execution and liquidity, and FxPro can execute most orders within 13 milliseconds. Lastly, being the recipient of multiple awards FxPro puts its name among the best in the industry.
Is FxPro Reliable?
One of the many questions traders ask before joining a platform or broker is if the company is reliable. With binary option platforms, this question certainly has to be asked, as there are several different less than optimal platforms out there. FxPro seems to make it a mission to distinguish themselves as a leader in the industry. The website offers many data points and the first is their credit rating. Their overall credit rating is a 95 when the industry average is a 66.
To take that a step further, they have two credit ratings, one with Creditsafe and the other with DueDil. Creditsafe is stated to be the world’s most used provider for business credit reports. DueDil “provides authoritative data and rich context on over 40 million companes…”. FxPro ranks among the highest when compared against other companies such as Forex.com and ETX Capital.
We can spend all day talking about the data points but it certainly appears the reliability is there. However, it’s difficult to judge a book by its cover and is up to you to decide. For what it’s worth, the company is the official sponsor of an English Premier League team and Formula 1 racing team. A fraud company would not likely go to these lengths to get their name seen.
Types of Accounts
When searching for the right platform, it’s important to identify the different types of accounts. Finding the right account ensures your needs are fulfilled without costing extra time and money. From their website, they appear offer three different accounts, which should fit most traders needs.
The first account is labeled a live trading account. With a live trading account, you are given a dedicated account manager. You also have the choice of selecting from the four different platforms that FxPro works with, including MetaTrader 5. Free trading tools and analysis with a minimum deposit of $100.
For those looking to up their game, there is a professional trading account, which is an upgrade from the retail live account. With the professional trading account, you can obtain higher leverage, which allows you to potential profit more. There negative balance protection and no dealing desk intervention. Also, you get prudent segregation of funds and the ability to switch to retail.
Lastly, if you are someone with a high net worth looking to access the Forex markets or other markets, you can open the VVIP trading account. According to the website, this account for not only for high net worth individuals, but also for those who are trading large volumes. With this account, there are no deposit or withdraw fees, free VPS, and a dedicated account manager. Also, you’ll receive daily market analysis by Trading Central and exclusive events.
There seems to be an account to fit most peoples needs. With this level of service, odds are if you need something FxPro will likely assist you.
As mentioned, there are four different platforms you can choose from when deciding what to trade on. This section we’ll go over the different accounts and a few of their features to help you decide which is right for you.
The first platform is FxPro MetaTrader 4, which is arguably among the most popular Forex trading platforms out there. When using this platform, you can trade across the several different markets advertised, such as futures, Forex, and spot metals. From there, you will have access to fixed and floating spreads, dynamic leverage, and EA back-testing facility.
Next is FxPro MetaTrader 5 and FxPro was named Best MT5 Broker twice. Utilizing the MetaTrader 5 platform will give you tick chart trading, added timeframes, indicators and drawing tools. Also, you will have market depth information, integrated development environment for EA’s and negative balance protection. Each platform offers different tools and benefits and it’s up to you to decide what fits best for you. MetaTrader is a name that has been around for quite some time and many traders tend to gravitate towards.
Third in their accepted platforms include the FxPro cTrader, which give you access to the full depth of markets. Some of the features of this includes spreads from 0 pips on major pairs, full market depth, no requites, and algorithmic trading through cAlgo. Algorithmic trading can be a wonderful asset, but it’s important that you understand how the algorithm works before implementing.
Lastly there is the FxPro Edge platform, which is called their revolutionary Spread Betting platform. With this account, you can trade Forex, shares, spot indices, spot metals and spot energies. Also, you have access to limited risk accounts at no additional cost, no commission and tight spreads.
With these several options to choose from, the variety of platforms are vast and one should fit most of your trading needs. Not many brokers offer this array of platform selection so ensure you take the time to find the one that fits best for you.
Trade the Worlds Financial Markets
With FxPro, there are several products you can trade with the first and most obvious being the Forex market. FxPro allows you to trade CFD’s on the Foreign Exchange Market. The ability to trade 70 currency pairs, flexible leverage, and fixed and floating spreads, trading Forex with FxPro goes toe to toe with the competition.
From there, you can utilize access to the CFD’s on the futures market that includes indices, agricultural commodities and energy. With 20 instruments to trade, no commissions and dynamic leveraging, access to the futures market is made easy.
A common thread you’ll note is these markets are traded using CFD’s. This is a derivative that allows you gain access to rising and falling markets. Keep in mind that trading derivatives can be risky and is not for everyone. However, it can be an effective way to gain exposure to markets if used correctly.
How to Open an Account and Start Trading
Starting the setup process is simple as there is a registration button in the upper right hand corner of the homepage. From there, they will ask the usual information to begin the process. Step one is to register you live trading account and get ready for trading. From there, you will upload the appropriate documents to verify your account. Next, you can login to your account and begin funding and making deposits into your account. Lastly, you can begin trading, withdrawing and everything you need to begin building a profitable account.
One important aspect of trading is to begin with opening a demo account. Not only does this allow you to test drive the platform before committing, but it also lets you test strategies without risking your hard earned capital. To open a demo account, you simply choose the demo account option and fill out the appropriate information. From there, you can detail your settings and tune the platform to fit your needs. Once you’ve test drove the platform, you can begin finding the right one for you and open a live account.
Funding and Withdraw
To view a complete list of the deposit and withdraw information you can visit their webpage. However, general times and turn around appear to be in line with market standards. For those under CySec regulation, you can use payment methods that include bank to broker transfers, Visa, PayPal, and Skrill among others. Withdraws are nearly one business day across the board, which is important for those of you needing to live off of your trading revenue.
Overall FxPro appears to be one of the more robust brokers out there and offers a variety of platforms to choose from. With their market experience and proven data, it seems there isn’t much to hide. They are also a main sponsor for an English Premier Team and seem to be a leader in the industry. The only draw back is everything appears to be traded as a CFD, which can be risky. Take the time to learn the platforms and brokers by opening a demo account. After, there are a few accounts to choose from and one is bound to fit your needs.