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FXPro Review
FXPro is a currency broker that also offers spread betting. They provide traders with access to key markets such as currencies, indexes, commodities, and stocks. FXPro is one of the few brokers that offers cryptocurrency CFDs to traders interested in cryptocurrencies such as Bitcoin.
Pros
- Established in 2006
- Regulated by Financial Conduct Authority, CySEC, DFSA and SCB
- Min. deposit from $100
Cons
- Not ASIC Regulated (See alternatives)
A minimum deposit of $100 is required to establish a live account. Alternatively, FXPro provides a demo account that you may use to practise and become acquainted with their platform.
Regulated by yhe Financial Conduct Authority in the United Kingdom (FRN: 509956) and CySEC (Licence: 078/07), FXPro keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. FXPro has been in business since 2006, with its headquarters in the United Kingdom.
Before we get into the specifics of FXPro’s spreads, fees, platforms, and trading tools, you might want to open their website in a new tab by clicking the button below in order to see the latest information directly from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are FXPro’s spreads & fees?
FXPro, like most brokers, charges a commission on the spread, which is the difference between the buy and sell price of an asset.
The commissions and spreads shown here are based on the FXPro website’s minimum spreads.
| Forex | FXPro | City Index | XTB |
| EUR/USD(Average: 0.7 pips) | 1.4 pips | 0.7 pips | 0.1 pips |
| GBP/USD(Average: 1.1 pips) | 0.9 pips | 1.7 pips | 0.1 pips |
| USD/JPY(Average: 1.1 pips) | 0.6 pips | 0.6 pips | 0.1 pips |
| AUD/USD(Average: 0.8 pips) | 1.0 pips | 0.6 pips | 0.2 pips |
| USD/CHF(Average: 2.3 pips) | 1.6 pips | 2.3 pips | 0.2 pips |
| USD/CAD(Average: 2.9 pips) | 1.0 pips | 0.5 pips | 0.3 pips |
| NZD/USD(Average: 3.6 pips) | 1.3 pips | 2.8 pips | 0.3 pips |
| EUR/GBP(Average: 2.4 pips) | 0.7 pips | 0.5 pips | 0.1 pips |
Spreads are dynamic and are for informational purposes only.
As you can see, FXPro’s minimum spread for trading EUR/USD is 1.4 pips – which is relatively high compared to the average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with FXPro vs. similar brokers.
How much does FXPro charge to trade 1 lot of EUR/USD?
If you bought one standard lot of EUR/USD (100,000 units) with FXPro at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $8.13. Here is a general breakdown of the fees and how they compare to IG and XTB.
| FXPro | IG | XTB | |
| Spread from: | $ 14.00 | $ 6.00 | $ 2.00 |
| Commission: | $0.00 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 14.00 | $ 6.00 | $ 2.00 |
| $8 less | $12 less | ||
| VISIT FXPRO | VISIT IG | VISIT XTB |
All fees/prices are for informational purposes and are subject to change.
What can you trade with FXPro?
FXPro provides over 285 different trading instruments, including over 75 currency pairings. We’ve summarised all of the different types of instruments supplied by FXPro below, along with comparative instruments from IG and XTB.
| FX / Currencies | FxPro | IG | XTB |
| # of forex pairs offered | 75 | 90 | 48 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies* | Yes | Yes | Yes |
| Commodity CFDs | FXPro | IG | XTB |
| # of commodities offered | 17 | 34 | 21 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Index & Stock CFDs | FXPro | IG | XTB |
| # of stocks offered | 156 | 8000 | 1606 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | No | Yes | Yes |
| SEE FXPRO’S INSTRUMENTS | SEE IG’S INSTRUMENTS | SEE XTB’S INSTRUMENTS |
What’s the FXPro trading experience like?
1) Platforms and apps
FXPro is one of the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. They are one of just a few brokers that offers the Trader platform, which was designed for traders searching for a STP/ECN solution. Check out our Trader broker comparison for a list of forex brokers who provide the cTrader platform. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
They now provide mobile apps for Android and iOS, making it easy to monitor and execute transactions while on the go.
Still not sure?
Open a practice account & learn to trade
2) Executing Trades
The minimum and maximum trading requirements for FXPro vary based on the trader and the instrument.
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
FXPro also includes a variety of risk management tools, such as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You may view all of FXPro’s account features here.
Finally, we’ve listed some of the popular funding methods that FXPro offers its traders below.
Trading Features:
- Allows scalping
- Allows hedging
- Low min deposit
- Offers Negative Balance Protection
Accounts offered:
- Micro account
- Mini account
- Standard account
- Islamic account
Funding methods:
- Credit cards
- Bank Transfer
- PayPal
- Skrill
- Payoneer
- Neteller
- American Express
3) Client support
Arabic, Chinese, English, French, German, Hungarian, Romanian, Turkish, Czech, Slovak, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese are among the languages supported by FXPro.
4) What you’ll need to open an account with FXPro
As FXPro is regulated by the Financial Conduct Authority, CySEC, the DFSA, and the SCB, each new customer must pass a few simple compliance tests to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their site immediately, it is crucial to note that you will not be able to execute any trades until you pass compliance, which might take several days depending on your circumstances.
To start the process of opening an account with FXPro you can visit their website here.
79% of retail investor accounts lose money when trading CFDs with this provider.
