IS FXPRO A GOOD BROKER? FXPRO REVIEWS
Being one of the online leading trading house votes for “Best forex broker” in both 2016 and 2017. FxPro is the official primary sponsor of the premier leagues’ Watford Football Club. FxPro made it evolve from a pure online Broker to a fully integrated platform with many features with offices in the United Kingdom and Cyprus over the past twelve years.
FxPro specializes in currency trading, to diversifying its CFD offering, with the addition of new asset classes, which are UK equity shares, spot indices, futures, spot metal, spot energies commodities and global stocks.
FxPro primary objective is to provide to its clients professional trading conditions, advocating the adoption of fair and transparent trading practices across the Fx industry.
With their platforms currently being able to process more than 5,000 trades per second, and executing all of the orders within 50 milliseconds; FxPro has gained its reputation over the last twelve years covering every corner they can and being since its foundation a leader in the FOREX industry.
FxPro spreads and commissions
When referring to trading cost, there is a mix of commission charges and spreads that have to be paid by traders.
FxPro provides tight spreads on FOREX CFDs for all major currency pairs and a vast variety of exotic currency pairs. If you are using the cTrader trading platform, you’ll receive spreads from 0 pips on selected pairs and will have to pay a fixed commission fee of $45 per $1 million traded.
Spreads often change as FxPro attempts to provide competitive spreads during all trading hours. FxPro spreads may vary and are susceptible to underlying market conditions. FxPro recommends its traders to check news announcements on their Economic Calendar, where they could see the widening of spreads, amongst other instances.
At FxPro, you’ll use a dynamic FOREX leverage model on the MT4, MT5, cTrader and FxPro Markets platforms; these platforms automatically adapts to clients trading positions. The maximum FxPro leverage offered decreases as the volume per instrument of a client increases.
If a client has positions open across multiple instruments, the leverage will be calculated separately on each FOREX symbol, so the leverage decreases per trading instrument.
The way the sum of positions could be explained merely through the next example; if a trader has 400 lots buy and 300 lots sell. It would be necessary to take the side with the most significant volume to calculate the required margin. In this case, the side with the largest exposure is the 400 buy, and as such, 400 would be the value used to calculate the required margin. Furthermore, a trader with six positions of 50 lots buy (or sell), and a trader of a single position of 400 lots buy (or sell) would require the same margin; given their accounts have identical leverage settings.
The maximum leverage with FxPro, as said before, will depend on its open lots A maximum leverage of 1:500 for 0 - 100 open lots, 1:200 leverage for 100 - 200 open lots, a maximum leverage of 1:100 for 200 - 300 open lots, a 1:50 for 300 - 500 open lots and a leverage of 1:33 for 500 or more open lots.
FxPro account types
Opening Fxpro trading accounts will give you access to online FOREX trading with an FX Broker who offers some of the best trading conditions in the industry. With instant market execution available, with eight base currencies at your disposition, anonymous low latency trading with no interference from a dealing desk, FxPro will give you a great experience with these and many more function.
FxPro has as its disposition different types of accounts, the main ones being Demo Accountss, standard accounts, and Premium Accounts.
Demo Accounts, are common in FOREX trading, they are used to test a broker, and to learn and adapt to the FOREX market without taking real risks. FxPro provides to its trader a free of charge account for those potential traders who wish to try out the FxPro platforms without compromising real money. Opening a Demo Accounts will instantly give you a virtual cash balance of $500,000
After opening a Demo Accounts, you will gain access to the various platforms such as MT4 platform, the MT5 platform, and cTrader
Standard Accounts, they are divided into four different types, MetaTrader classic FxPro MT4 and FxPro MT5 platforms, FxPro cTrader, and FxPro Markets, each one requiring a separate minimum deposit to be opened and providing different functions.
Premium Accounts will require an investor to have a minimum of $50,000 to invest if they successfully have this amount will qualify for a premium account. Those who hold a premium account will gain access to extra benefits from the standard account holders. But what really attracts traders to this account type, it is the lower spreads that the account holder will get to enjoy when trading in large volumes.
FxPro Trading platforms
FxPro gains part of its reputation thanks to how it made its way to combine innovation and ease of use in every platform available for their traders. They’ve put so much effort into their trading platforms that received the “Best Trading Platform” at the 2015 Forex Awards.
Currently, FxPro offers five different platforms; FxPro MT4, FxPro MT5, FxPro cTrader, FxPro Markets and FxPro Mobile Platforms FxPro MT4 Platform: MetaTrader 4 is known as the standard platform in the FOREX trading history. It combines an intuitive user interface with a customizable environment. The MetaTrader 4 platform provides everything a trader could need and use during his trading session to chart assets, place orders and manage positions.
In addition to all the MT4 features, FxPro adds their advanced trading infrastructure, competitive pricing and superior order execution with no interventions
With MT4 you’ll have access to three different chart types, nine-time frames, a fully customizable interface and many other features, MetaTrader 4 gives its users the ability to monitor the market with precision and correctly timing your entry and exit each time.
FxPro MT5 Platform: It is a newer version of the MetaTrader platform, is a robust platform, providing its traders with everything they need to trade the financial markets. FxPro MT5 trading platform is a powerful tool, and at the same time, pretty easy to use, it allows you to customize its layout to suit your trading style and also enables you to analyze the markets with a large selection of features to give a better experience at FOREX trading with FxPro.
Allowing its users to chart assets at 21 different time frames, with low spreads from 0.6 pips, Depth market information and giving the ability to have up to 100 charts open at any time provided, the MT5 trading platform seems like an excellent opportunity to take.
FxPro cTrader Trading Platform; new to the world of charting platforms, but already many traders are looking up to cTrader’s development since it aims to add another level of market resolution. FxPro cTrader was explicitly designed for CFDs trading, cTrader allows traders to place orders while having access to full market depth.
FxPro cTrader displays the full market depth, letting its users determine the available prices per trade size entirely. Providing you with transparency regarding extent of available liquidity.
FxPro Markets is a platform which combines FxPro’s professional trading conditions and multi-asset offering with superior market execution and competitive pricing. The web platform provides traders the access to the market wherever they are, by using browser explorers, there will not be a need to install an application.
FxPro Markets is the newest addition in their trading platforms’ pack; it provides traders with an intuitive and comprehensive web-based platform with single tap order execution, full market depth, tight spreads and many other features to create and manage trading accounts effortlessly.
FxPro MT4 Mobile Platform is the MetaTrader 4 adaptation to Android and iOS systems. The use of mobile platforms changed the way trading works. People would no longer have to be glued to somewhere when they can monitor the markets through a smartphone or tablet and trade no matter the place you currently are in the world.
Two revolutionary things such as Smartphones with their operating system and the MetaTrader 4 trading platform have both changed the world of online trading. Now, these two come together with MT4 Mobile for Android and iOs, allowing traders to access their MT4 accounts from any web-enabled operating system.
FxPro deposits and withdrawals options
FxPro supports six different payment methods. Deposit and withdrawal are available through PayPal, bank wire transfer, Skrill, Neteller, Credit Cards, UnionPay.
There are no costs when making a withdrawal, they are entirely free, and take one business day to process. However, you should know that the entire withdrawal process can take as long as five business days to complete.
FxPro Trading Tools
FxPro wants their users to have the most excellent experience in FOREX trading while using FxPro, so, to give a fresh feeling, and helping in different ways, FxPro gives their traders a vast variety of Trading Tools to help them with the FOREX market, between all the tools available, some of the most important ones are:
FxPro Economic FOREX Calendar offers so much for those who seek to know about all the essential upcoming economic events. The Economic FOREX Calendar gets automatically updated during live announcements. This gets done every time the event data gets released, providing you and other traders with vital information that could affect your trading.
FxPro FOREX Calculators online provided CFD calculators, makes you able to complete a number of essential trading calculations. Every FX Calculator uses the latest rates and uses numerous currency pairs to make its calculations. Values can also be changed into one of the account currencies that your trading account is denominated in.
The Trader’s Dashboard could probably be, FxPro fastest, most natural and most intuitive way to get a quick feel for what’s happening on the world’s currency market. In the Trader’s Dashboard, FxPro free live FOREX charts lets you find out which currencies are moving, exciting positions, volume and trade information, volatility and trades per time on major currency pairs and more information available in FoxPro Trader’s Dashboard
FxPro Virtual Private Server, or just FxPro VPS, it enables you to upload and run your MetaTrader 4 expert advisors and cAlgo Robots 24 hours a day, without keeping your trading terminal on and running. This will make your trading completely automated, reducing your latency and downtime in a significant way. FxPro VPS is provided by BeeksFX, a known global leader in Virtual Private Server infrastructure.
FxPro Customer Support
FxPro has a comprehensive customer support service available to every user on a 24/5 basis through email, live chat or telephone calls. To increase diversity in their clientele base FxPro has the support service available as multilingual and localized; supporting over 30 different countries on a localized level.
Create in 2006, by a well known veteran team of financial experts, never took a wrong turn or looked back. FxPro posses multiple awards for its expertise and fantastic leadership in the FOREX industry since its foundation. Their Goal is to provide superior trading services to every client; to educate people about the FOREX market, and empower them to take control of their finances by making FOREX trading accessible to all.
FxPro has achieved a high-rank status in the FOREX market, providing trading practices, promoting transparency, and leading the way in the FOREX trading industry.