You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
- For this reason, you will find spreads are wider than brokers that have ECN pricing and added commission costs.
- Again, FxPro performs better than average by not charging a withdrawal fee and having better-than-average processing times.
- Financial spread betting is a tax-free product under UK law and a popular alternative to CFD investments.
- The minimum deposit at FxPro is just $100 (or equivalent base currency).
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- Filippo Ucchino is the founder and CEO of the brand InvestinGoal and the owning company 2FC Financial Srl.
As mentioned above, if you are a large volume trader you will want to try the FxPro VIP account. This typically comes with a high deposit amount of $50,000 or more but can allow access to discounts of as much as 30% on market spreads and cTrader commissions. Overall, you will find that FxPro provides a great environment for many types of trading and at the fastest speeds possible. This means the trading infrastructure itself is very efficient and ultra-low latency, as well as their ability to offer several execution methods. You will find both instant and market execution offered at FxPro. FxPro has one of the highest numbers of retail clients with over 1,866,000 million trading accounts.
Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. Charting via the desktop platform is impressive, with 26 available time frames, 4 chart types, 76 indicators, and more than 10 drawing tools. A news feed and integrated economic calendar are built into the platform.
FxPro’s trading platforms and tools are comprehensive and highly recommended for traders seeking versatility and advanced technology. The offering includes MetaTrader 4, MetaTrader 5, cTrader, and a proprietary platform, all of which provide a robust trading experience. The FxPro spread betting service is provided to UK and Ireland based traders through their own FxPro edge platform. This comes with alow minimum deposit of £100to match the rest of the offering, and you can still trade here with very tight spreads using MT5 market execution, and no commissions.
FxPro vs Other Brokers
Some features and services may vary depending on where you reside. FxPro is accessible to many countries around the world and has superb customer support. A good platform is the best tool to enhance traders’ performance. Besides excellent knowledge, having the right trading station is critical to developing all that you have learned. This means that where it comes down to execution, it acts as a counterpart between the broker and the interbank market.
FxPro’s primary source of revenue comes from its large customer base. With such a large number of retail clients opting for a FxPro trading account, it’s important to examine if FxPro is a trusted broker. The below table compares the spreads of different brokers that offer a standard account. These spreads are published on each broker’s website and checked on xcritical reviews the 1st of each month. The FxPro’s variable spread accounts market execution which means if the spread you order at is not available, FxPro will trade at the next best price available.
We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. The range of symbols available at FxPro will largely depend on your chosen trading platform. There are also thousands of shares available to trade in FxPro’s BnkPro app, though it isn’t yet fully available globally. The following table summarizes the different investment products available to FxPro clients. Lastly, there is the Spread Betting platform, again with a £100 minimum deposit, which is called FxPro Edge. With this account, you can trade Forex, shares, spot indices, spot metals, and spot energies while enjoying a fast order execution.
Metatrader is highly customizable and can be used for creating trading robots (EAs) coded in MQL. Metatrader platforms are very light, and they run basically on every device. While these may not be brighter graphically talking, they are still very user friendly. FxPro offers over 70 forex pairs with low latency and fast order execution and spreads starting as low as 0 pips.
FxPro supports multiple funding options including bank wires, Neteller, PayPal, credit cards, and Skrill, accommodating a wide range of payment preferences for its clients. Whether you are a beginner to the markets or an advanced trader, FxPro could be a good fit for you, thanks to its strong performance across all categories of our review. The CFD industry giant still has room for improvement by providing tighter spreads in the Standard Account and private insurance for clients of the offshore entity.
Does FxPro provide VPS?
It has expanded to offer direct trading to customers in over 170 countries. Along the way, the company has picked up over 85 prestigious international awards. FxPro has one of the highest counterparty credit ratings in the industry, scoring 96 on a 100-point scale, where a high score indicates a lower risk of default or bankruptcy. They also participate in the Financial Services Compensation Scheme (FSCS), which allows clients to claim compensation in the event FxPro were to become insolvent. One negative for FxPro is the absence of guaranteed stop‑loss orders.
Compare Trading Instruments
One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. FxPro’s support is available 24/5 via live chat, phone, and email. Across all mediums, I experienced short wait times, and agents were helpful and knowledgeable. Overall, I had a positive experience over my two-week testing period. To change the language of the MT4 app, you must change the language for your entire phone.
Popular features like one-click trading and trading from the chart are available. The app also has an economic calendar, allowing users to stay on top of key fundamental data. When checking account security, I verified that 2-factor authentication is available. Filippo Ucchino created InvestinGoal, a comparison site and educational portal for the online trading and investing industry. Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons. The platforms are available for both Windows and Mac and Android and iOS on mobile.
In our comprehensive review of FxPro, we’ve concluded that it is a highly recommended broker for forex and CFD traders. Our extensive research and firsthand testing underscore its robust offering and exceptional service, making it a great choice in the industry. Its offering goes above and beyond the average CFD broker, with shares from the US and 7 European countries. It also provides spot and futures commodities and indices, as well as 28 cryptocurrencies.
MetaTrader 4 Mobile App
It is designed to replicate an institutional trading environment, with features such as Level 2 DoM (Depth of Market). The depth-of-market shows incoming liquidity from liquidity providers. CTrader offers state-of-the-art algo trading, copy trading, and a performance analysis tool – making it a xcritical suitable choice for active, experienced traders.
Furthermore, both platforms support automated trading through Expert Advisors (EAs) and investors can also download Autochartist as a plugin to access advanced trading tools. Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets.