Over the past decade, FxPro has grown to become a leading retail FX market participant. Originally founded in 2006, the company has executed more than 150 million orders, offering Contract for Difference (CFD) trading across spot Forex, shares, indices, metals, energy contracts, and futures markets.
Trading at FxPro is offered across several third-party trading platforms, including the MetaTrader4 (MT4) and MetaTrader5 (MT5) platforms developed by MetaQuotes Software Corporation, FxPro Markets, a branded-version of the cTrader platform developed by Spotware Systems, and the SuperTrader platform for managed account investors.
With retail and institutional clients in over 150 countries, the FxPro brand is primarily European and holds regulatory licenses in the United Kingdom (UK) under FxPro UK Limited, regulated by the FCA and its Cyprus entity, FxPro Financial Services Limited, which is regulated by CySEC, and it has an entity regulated by the Financial Services Board (FSB) in South Africa as well as by the SCB in the Bahamas. In 2017, FxPro further expanded its regulatory footprint with a license from the Dubai Financial Services Authority (DFSA) of the United Arab Emirates (UAE).
Trust Score
Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.
Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of FxPro.
| FxPro | |
|---|---|
| Trust Score | 83 |
| Year Founded | 2006 |
| Publicly-Traded Company (Listed) | No |
| Regulated in Major Hub | Yes |
| Regulated in Emerging Hub | Yes |
| Authorised in the European Union | Yes |
| CFTC Registered (USA) | No |
| FCA Regulated (UK) | Yes |
| IIROC Authorised (Canada) | No |
| FINMA Authorised (Switzerland) | No |
| ASIC Authorised (Australia) | No |
| SFC Authorised (Hong Kong) | No |
| MAS Authorised (Singapore) | No |
| FSA Authorised (Japan) | No |
| FMA Authorised (New Zealand) | No |
| CySEC Authorised (Cyprus) | Yes |
Offering of Investments
The following table summarizes the different investment products available to FxPro clients.
| FxPro | |
|---|---|
| Minimum Initial Deposit | $0.00 |
| Currency Pairs (Total Forex pairs) | 70 |
| CFDs - Total Offered | 215 |
| Exchange Traded Securities: US | No |
| Exchange Traded Securities: International | No |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | Yes |
Commissions & Fees
FxPro offers its most competitive spreads on its cTrader platform, where a commission of $4.5 per standard lot is added on each trade you make (total $9 per round turn trade), with average spreads of 0.45 on the EUR/USD, according to December 2017 data from FxPro.
FxPro’s floating rate model (variable spread) is available on MT4 and MT5, with EUR/USD spreads of 1.39 for accounts on market execution and 1.55 for accounts with instant execution, as per December 2017 data from FxPro.
When comparing commission-based pricing, FxPro’s all-in spreads (total cost of a trade) are roughly 1.25 pips (0.45 spread + 0.9 commission) using the EUR/USD example above on cTrader.
This pricing is comparable to competitors such as OANDA, forex.com, FXCM, IG, and Saxo Bank in their standard account offerings, but traders who do higher volumes or have larger deposits can receive more competitive pricing on Active Trader programs available at FXCM, IG, FOREX.com, and Saxo Bank.
Meanwhile, the spreads on MT4 and MT5 are more comparable to pricing from OANDA, CMC Markets, and Plus500, even though the account type and execution model may vary.
Overall, with the market and instant execution accounts available, traders have multiple options at FxPro when it comes to commissions and fees, which helps the broker cater to the entire spectrum of forex traders.
| FxPro | |
|---|---|
| Average Spread EUR/USD - Standard | 1.20 |
| All-in Cost EUR/USD - Active | 1.20 |
| Active Trader or Premium/VIP | Yes |
Customer Service
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.
Results:
- Average Connection Time: <1 minute
- Average Net Promoter Score: 7.33 / 10
- Average Professionalism Score: 6.2 / 10
- Overall Score: 7.3 / 10
- Ranking: 12th (43 brokers)
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