The well-known broker FxPro has been offering its services since 2006. It has received several licenses and claims to be one of the industry leaders. However, there are different reviews about it. Let’s do a scam check and find out if it’s that good.
Table of Contents
Highlights
| 🏛️ Country | UK, Cyprus, South Africa, Bahamas |
| ⚠️ Regulation | FCA, FSCA, CySec, SCB |
| 🖥️ Website | https://www.fxpro.com/ |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 2006 |
| 💲 Minimum Deposit | $100 |
| ⚖️ Minimum and Maximum Leverage | 1:1, 1:200 |
| ⚙️ Trading Platform | FxPro Trade, MT4, MT5 |
| info@fxpro.ru.com | |
| 📞 Phone | +44 (0) 203 151 5550, 08000 463 050 |
First Impression of Fxpro.com
While the broker is quite popular, its website looks pretty simple. However, the content is quite useful here. The broker describes its trading conditions in detail. Of course, there is a lot of self-promotion. FxPro has indeed earned several awards and is happy to announce it. In general, despite its simplicity, the site makes a good impression.
Partnership and Bonuses
FxPro does not provide bonuses, but it does have an affiliate program. You can choose an introducing broker. In this case, you will receive a reward from your referral’s trading volume:
- $45 for every $1 million of turnover on exotic currency pairs
- Up to $35 for every $1 million of turnover on simple currency pairs.
You can also choose a simple affiliate program. Then you can get up to $1,100 for each referral.
Account Opening on Fxpro.com
Account opening here is standard. You will need to fill out a form with the following fields:
- First and last name
- Country of residence
- Email and password.
When you get to your Client Portal, you will need to provide more detailed information about yourself. FxPro asks for your:
- Residential address
- Phone number
- Date of birth
- Source and amount of income
- Trading experience, etc.
Verification
Verification on the site is necessary. It is also a standard process. You will need to send photos or scans of your identity documents and place of residence.
- It is convenient to upload documents to the form.
- Additional documents may be required.
- It is unknown how long it will take to check the documents.
Trading Software
FxPro offers its own platform and MT4/MT5 terminals to choose from. At the same time, the broker’s own platform has slightly better trading conditions and a larger set of tools. However, MT4 and MT5 are still more popular. They are more convenient for trading and work great.
| Features | FxPro | IC Markets | Axi |
|---|---|---|---|
| Demo Account | ✔️ | ✔️ | ✔️ |
| Mobile App | ✔️ | ✔️ | ✔️ |
| Own Development | ✔️ | ✔️ | ❌ |
How Can I Trade With FxPro?
First, you should understand that the conditions of your service will differ depending on the country of your residence. If you live in the UK, an English entity will serve you. However, most traders will be sent to an offshore branch.
All Info About Accounts
Accounts in FxPro differ not in the size of the deposit, but in the trading platform. Depending on what you choose, trading conditions will be various. Additionally, they also depend on the entity. Thus, clients from Europe will receive a maximum of 1:30 leverage. Those who are served offshore can count on leverage of 1:200. The minimum deposit is the same in all cases. However, if you have a large amount of more than 100 thousand dollars on your account, you can get a daily analysis and a personal manager.
- Islamic account
- Several types of platforms.
- You can’t choose legal entities
- High minimum deposit
- No additional services.
Market Analysis and Education With Fxpro.com
A client will receive a good market analysis only with a large amount in account. There is also training on the site, but it cannot be called particularly outstanding. FxPro gives a lot of basics and theory. There is also news and an economic calendar.
Deposit, Withdrawal, and Fees
FxPro offers many ways to deposit and withdraw. Among them are credit cards, bank transfers, electronic payment systems, for example; Neteller and Skrill. There are no withdrawal fees.
| Features | FxPro | Oanda | Vantage |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ✔️ | ❌ |
| Crypto Transfers | ❌ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ✔️ | ✔️ |
How Can I Contact It?
There are many ways to contact a broker. Among them are email, phone, and chat.
- Several ways to contact.
- Support works in 20+ languages.
- Sometimes you have to wait a long time for an answer.
- Support works only five days a week.
Is FxPro Dangerous?
Since the broker gets several licenses, it doesn’t seem to us a full scam. However, not everything is so great here.
How Long Does The Broker Work?
The company has been working since 2006. The domain works even longer. It was registered on March 26, 2002. Of course, the content on it appeared a little later. It should also be noted that FxPro has several other domains for different countries. In any case, the period of work of the company is great.
How Is FxPro Regulated?
FxPro has several licenses. Among them there is even a document from an authoritative FCA. Clients who open accounts there can be sure of strict supervision by the FCA. However, the rest were less fortunate. Most of the broker’s branches are registered offshore. Offshore entities offer other conditions; in particular higher leverage.
Also, we should note another very interesting fact. The number of traders who lose their deposit in the English branch is about 77%. Meanwhile, the number of traders who trade with offshore branches and lose deposits is 83%.
| Features | FxPro | Vantage | Axi |
|---|---|---|---|
| European Zone | ✔️ | ✔️ | ✔️ |
| Asian Zone | ❌ | ❌ | ✔️ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ✔️ | ❌ | ❌ |
| Offshore | ✔️ | ✔️ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With FxPro?
Is FxPro Legit?
How Risky Is It?
Kevin Berry Well, it’s a good CFD broker that doesn’t use a dealing desk. It has long been working around the world and has earned a certain reputation. At the same time, you should remember that the risk of losing the entire deposit for retail clients is 83% here. Very much. Moreover, before registering, you need to look at which branch of FxPro you will be served. A lot depends on this.
FxPro rating
13 reviews about FxPro
I don’t understand this modern fashion of opening thousands of branches offshore. What is the problem with getting a license from a good regulator and working under the same conditions for everyone? Well, it is clear that something is wrong in the offshore branch. Otherwise, there would not be such a difference in the number of traders losing their deposit.
Yes, I also do not support this idea with a bunch of offshore companies. The main thing is, I don’t understand why I can’t open an account wherever I want. For example, I want my trading to be supervised by the FCA. But I’m still being sent offshore without any right to choose. It’s not nice to the customers.
I don’t know what to say. It was a good broker, but it started working poorly. Sometimes I can’t get through to support for hours, and there are more and more questions. Sometimes terminals don’t work well. I keep several accounts, and it happens that the quotes there differ enormously. Something strange is happening.
A typical CFD-broker. I can’t say anything bad, but also good. In my opinion, FxPro is overrated. The most usual trading conditions are here on its platform. Trading on it is much worse than on a MetaTrader. Spreads are the same everywhere else, and during the news can be huge. Money can be withdrawn for a long time. So, DYOR.
Awesome and transparent broker. Traded with them for over 3 years, and never had problems. They offer good spreads, convenient and fast platforms, smooth transactions, and good analytics. Client support is also at the highest level. No problems at all.
Imho, quite trustworthy brokerage company. FxPro offering quality support for beginners and wide spectrum leverage options for all kind of traders. There are a lot of account types on different platforms. And they accept numerous payment options. You can deposit and withdraw via wire transfer, credit cards and various electronic payment systems. The withdrawal requests are handled fast and efficient. It’s a big plus.
Fxpro is my current broker and I am pleased with their services. The MetaTrader 4 platform works fast and I never had delays or strong slippages. They do not manipulate the prices as I notice with other brokers. All the money transfers I make by skrill. Money comes into account in one working day. I recommend! Normally checked broker.
FxPro offers a comprehensive range of educational resources, including video tutorials and eBooks, making it suitable for both novice and experienced traders.
The robust trading platform and competitive spreads at FxPro have made my trading experience quite enjoyable. Their responsive customer support is an added bonus
FxPro offers transparent trading conditions and the availability of analytical materials that help me make well-founded decisions. I can always support my trading choices based on up-to-date data.
The execution speed is phenomenal. I’ve never missed an opportunity due to lag or delays in the FxPro platform.
I feel assured with the excellent support service from FxPro, which is always ready to help resolve any questions or issues related to my trading.
With FxPro, I feel in control of my trades. Their user-friendly interface and detailed analytics make for informed trading