Is FxPro an honest reliable broker? Do they pay withdrawals on time? Can you trust your money with FxPro? – FinTech Events Center FxPro review intends to deliver an honest and unbiased 360 degree outlook on one of the fastest growing Forex brokers in Asia.
We have based our FxPro review on the following categories:
Regulation: FxPro regulation
Platform: FxPro trading platforms
Customer care: FxPro customer care review
Trading account, spread, deposit and withdrawal methods
FxPro Group Limited is the holding company of FxPro Financial Services Ltd and FxPro UK Ltd, operating since 2006. In the UK, FxPro UK Limited was granted authorization by the FCA UK in 2010. FxPro Financial Services Limited, meanwhile, received its CySEC license in 2007 and its FSB authorization in 2015. The company has won more than 40 awards including recent awards of Best MT5 Broker 2017, Best FX Provider 2017, Best FX Execution Global 2017 and Best Execution Broker Global 2017.
The company provides trading services globally except United States of America, The Islamic Republic of Iran and Canada. From global recognition perspective, FxPro has been labelled as Most Trusted Brand, UK by Global Brands Magazine. The company has been promoting itself as a trusted broker, ensuring the safety of client funds and non-dealing desk execution.
FxPro Trading Platform Review
From FxPro trading platforms’ review perspective, the company offers traders a wide range of trading platforms including
FxPro trading platforms provide clients with accessibility of the financial market from any place of the world. Indeed, the company has won some awards regarding their platforms; – Best Forex Trading Platform, Best Forex Trading tools, Best Automated Trading Platform and Best Trading platform awards. FxPro trading platform is accessible from PC, Mac, Tablets and Smartphones.
FxPro Account Types
Let’s look into FxPro account types as well. The company offers 4 different trading accounts for their clients. These accounts are also linked to their 4 types of trading platforms.
FxPro MT4: This account type requires minimum $500 initial deposit with fixed and variable spreads average of 1.2-1.4 with both instant and market execution facility. This account has dynamic leverage up to 1:500 and provides no dealing desk intervention based trading facility. Clients using this account type will be able to trade only in Meta Trader 4 platform only.
FxPro MT5:This account type requires minimum $500 initial deposit with variable spreads average of 1.4 with market execution facility. This account has dynamic leverage up to 1:500 and provides no dealing desk intervention based trading facility. Clients using this account type will be able to trade only in Meta Trader 5 platform only.
FxPro Ctrader: This account type requires minimum $500 initial deposit with variable spreads average of 0.3 with market execution facility. This account has dynamic leverage up to 1:500 and provides no dealing desk based trading facility. Clients using this account type will be able to trade only in Ctrader platform only.
FxPro Markets:FxPro Markets is only available to clients of FxPro Financial Services Limited. This account type requires minimum $500 initial deposit with variable spreads average of 1.2 with market execution facility. This account has dynamic leverage up to 1:500 and provides no dealing desk based trading facility. Clients using this account type will be able to trade only in FxPro Markets platform only.
Let us summarize the FxPro advantages below:
No Dealing Desk Forex Broker
FxPro provides with deep liquidity, anonymous and ultra-fast execution of the trades in the volatile market situation without any delays.
Broker based on Transparency and Strong Regulation
The team of expertsat FxPro are keen on keeping trusted broker image. Thus, the FxPro regulations from FCA UK, CySEC and FSB. As a result, the company has strong proponent of transparency ensuring safety of funds.
Offering Variety of Trading Platforms
FxPro offers number of trading platforms like Meta Trader 4, Meta Trader 5, Ctrader and FXPro Markets.
Innovative Trading Tools provider
FxPro offers a variety of trading tools to support the trading process of the clients. Thus, traders can access to VPS hosting, Exclusive Mobile Tool app and Trading Central Technical analysis tools.
Comprehensive Trade Education Facility
FxPro provides traders strong educational Forex Webinars and Seminars. They are also often present leading Forex Expos to meet traders face to face globally.
Dedicated Customer Support
FxPro customer support is rather strong. They provide Multi-Lingual customer support service with 24/5 access without any latency.
As per FinTech Events Center FxPro broker review, the company has some disadvantages for a select list of traders.
No US, Canada and Iran Clients
As FxPro has no license to facilitate the traders from the regions ,they could not provide trading services. Additionally, FxPro does not logically provide any bonus or other campaigns, as an STP broker.
To Conclude, FxPro has a lot to offer the clients with vast number of trading instrument along with variety of trading platform. FxPro ensures Safety of Funds, Quick Execution of trades, Dedicated Customer support and Educational program for traders. After reviewing thoroughly and on the basis of the feedback of clients, FinTech Events Center found FxPro to be Reliable and Trustworthy broker to trade with.
As per 13.11.2017, FxPro does not have any forbidden trading style.
FXPro has regulation and license from the most reputed regulators of the world which ensures better reliability and trust for the clients. The regulations are:
Financial Conduct Authority (FCA)
FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number 509956). The FCA is a leading, independent, non-governmental body, given statutory powers by the UK’s Financial Services and Markets Act 2000. The FCA’s key objectives include: protecting consumers, improving levels of integrity within the financial system and promoting competition with the interests of consumers in mind.
As a fully authorised company, FxPro UK Limited ensures compliance with all FCA requirements.
Cyprus Securities and Exchange Commission (CySEC)
FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number 078/07), the supervisory and regulatory authority for investment services firms in Cyprus. CySEC is a member of the European Securities and Markets Authority (ESMA).
FxPro holds a cross-border CySEC licence, authorising the provision of investment and ancillary services. This ensures that they comply with EU and local regulations such as the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 Law 144 (I)/2007.
Financial Services Board (FSB)
FxPro Financial Services Limited is authorised and regulated by the South Africa Financial Services Board (authorisation number 45052). The FSB is the independent supervisory and regulatory authority for the non-banking services industry in South Africa.
Financial Services Compensation Scheme
FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS). This is the UK's statutory fund of last resort for customers of authorised financial services firms. The FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims made against it. Further information regarding the purpose and role of the FSCS can be found on their website //www.fscs.org.uk .
Investor Compensation Fund
FxPro Financial Services Limited is a member of the Investor Compensation Fund, the objective of which is to secure any claims of covered clients against members of the Fund and to compensate covered clients for any claims arising from malfunction by a member of the Fund in fulfilling its obligations whether that obligation arises from legislation, the client agreement or from wrongdoing on the part of the member of the Fund.