FxPro is one of the more popular Europe-based Forex brokers. They are based out of the United Kingdom, and have offices in Cyprus. They are regulated by a couple different regulatory bodies thanks to their widespread reach across the continent. If you’re looking for a new Forex broker, this might be one of the first ones that you will be considering. They are a strong service, but that doesn’t necessarily mean that they are right for you. Before you open up an account with FxPro, be sure to read over our review to get a better idea of who they are and whether they match up with your needs as a trader.
What Do They Offer?
Let’s start with the basics. FxPro has a wide range of currency pairs to choose from. They offer all of the major pairs, along with most of the secondary currencies. They also offer metals trades, stock CFDs, and index CFDs. You can also find futures trades on certain assets. The list of what’s available is always changing as new items are added, so checking out their site for more details on what is currently being offered.
What Trading Detail Do I Need to Know?
Like all Forex brokers, FxPro does have spreads on their trades. The easiest pair to look at is the EUR/USD just because it is the most widely traded asset. The average spread on this is 0.6 pips per trade, but you’ll see variation once in a while, depending on the platform you use, the time of day, and a few other factors. Also, be sure to know that this is just the info for the EUR/USD. Other pairs and CFD assets will see different spreads. These are determined by a number of different factors. If there’s a specific asset that you are wondering about, you can either check out the site for more info, or get in touch with one of their customer service reps.
Leverage will also vary a bit from platform to platform. If you use the MetaTrader 4 platform—which we recommend—you will be given a maximum leverage number of 500:1. Other platforms will vary a bit, but we’ve found MT to be the most reliable just because it is so prevalent in the industry and has so many beneficial features that come with it for free.
Do They Accept U.S. Traders?
No. FxPro does not allow people from the United States to use their services. Different regulations that FxPro is bound to prevent this. If you are looking for a U.S. trader friendly broker, there are many to choose from, so be sure to check out our list for more information.
What Makes this Broker Stand Out?
FxPro has a number of cool features that help it to stand out from the crowd. They are compatible with a number of different trading platforms, including MetaTrader 4 and 5, cTrader, and SuperTrader. The features that come along with each of these different platforms will vary a bit, so be sure to look at what works best with your needs, and then go with the one that will work best for you.
FxPro does offer cash back and rebates on trades. The easiest way to get this feature is to sign up for a new account and then follow the steps as they are listed on the brokerage site. However, you can still get this benefit if you already have an account with FxPro, just be sure to email or call a customer service representative to get this set up for you. The rebate rate can be a bit confusing, but basically, you earn about $2 per lot traded. A lot is equal to 100,000 units of the pair that you’re trading. Obviously, the more you trade, the more you will earn back. To get the most out of the rebate system, you will need to have solid trading practices in place. Trading is risky, and rebates will not do a lot to alleviate that risk. Strong money management is important to your success.
If you want to open up an account with FxPro, you will need to go to their site and set one up. The process is laid out in a step by step fashion, and it isn’t too difficult to go through. You can fund an account with a major credit card, wire transfer, or a handful of e-wallets. These include PayPal, Neteller, Skrill, and a few others. You will need your name, place of residence, and an email address to set up an account. Be sure to pick a secure password. To withdraw funds, you will be asked to prove your identity. The sooner you fulfill this requirement, the easier the withdrawal process will be.
As always, be sure to get in touch with an employee of the site through their contact page if you have any further questions. The process for creating an account is very simple, but that doesn’t mean that it’s perfect. Their team is responsive and helpful, so if you do have questions, get in touch with them by phone, email, or online chat.
Accounts can be funded with USD, AUD, EUR, CHF, GBP, JPY, or PLN. Pick the currency that meets your needs best. Once you choose a currency, you cannot change it later on. This is how all financial transactions will be conducted.