Want to see if FxPro is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?
We provide answers to all the questions in this FxPro Review.
We checked all FxPro licenses and regulations to see if FxPro scam or safe. We compared FxPro fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.
What is FxPro
FxPro is a UK Forex broker, established in 2006 also with additional entities in various global financial centers.
The company operates under the license of top-tier FCA in the UK and further received licenses from CySEC in Cyprus and South African FSCA, DFSA in Dubai and more.
FxPro highlights
| 🗺️ Regulated in | UK, Cyprus, South Africa, Dubai, Bahamas |
| 🛡️ Is FxPro safe to trade | Yes |
| 💵 EUR/USD spread | 1.8 pips |
| 🏦 Deposit | Bank Wire, Cards, Skrill, Neteller, PayPal |
| 💰 Minimum deposit | US$100 |
| 🏦 Withdrawal | Bank Wire, Cards, Skrill, Neteller, PayPal |
| 💻 Trading platform | MT4, MT5, FxPro Edge, cTrader |
| 💳 Trading markets | Forex, CFDs on Futures, Indices, Shares, Metals, Energies |
| 📈 Number of product | 260+ |
| 📉 Live chat response | Instant and relevant answers |
Regulation
License and regulation are the crucial to traders’ fund security. There are two facts checked, the broker’s license and its background, second how are you protected if something goes wrong.
Is FxPro legit
FxPro is regulated by several financial authorities, it is based in the UK and falls under top tier regulation by FCA.
The broker expanded globally with South Africa entity and obtain license from the South African Financial Sector Conduct Authority (FSCA). Cyprus license and Europe crossbreeds are issued by Cyprus Securities and Exchange Commission (CySEC), MENA zone is operated via DFSA license in Dubai and international proposal covered with global Bahamas entity.
FxPro licenses and status
| Entity | Registered in | Regulator | License no. | Status |
| FxPro UK Limited | UK | Financial Conduct Authority (FCA) | 509956 | Currently Regulated |
| FxPro Financial Services Limited | Cyprus | Cyprus Securities and Exchange Commission (CySEC) | 078/07 | Currently Regulated |
| FxPro Financial Services Ltd | South Africa | Financial Sector Conduct Authority (FSCA) | FSP 45052 | Currently Regulated |
| FxPro Global Markets MENA Limited | Dubai | Seychelles Financial Services Authority (FSA) | F003 | Currently Regulated |
| FxPro Global Markets Ltd | Bahamas | Securities Commission of the Bahamas (SCB) | SIA-F184 | Registered |
Is FxPro safe
Yes, FxPro is considered safe because it is regulated by the top-tier regulator and hold additional licenses.
FxPro operates 5 entities and is fully authorized in each jurisdiction. FxPro’s headquarter and European, South African, Dubai entities are regulated according to local regulators considered safe. However, international and global proposal is operated by entity in offshore zone Bahamas.
FxPro compensation scheme
| Entity | Compensation Amount | Negative Balance Protection |
| FxPro UK Limited | £85,000 | Yes |
| FxPro Financial Services Limited | €20,000 | Yes |
| FxPro Financial Services Ltd | No compensation | Yes |
| FxPro Global Markets MENA Limited | No compensation | Yes |
| FxPro Global Markets Ltd | No compensation | Yes |
We recommend to register account with the UK entity if it is available for you since we consider its regulations the best
FxPro provides negative balance protection for the traders, where balance converts to 0 in case trades go negative.
Markets and Products
At FxPro you can tradeForex, CFDs on Stocks, Indices, Futures, Oil, Metals and Cryptocurrencies.
| Markets | Instruments |
| Forex | 70 |
| Indices | 14 |
| Commodities | 6 |
| Cryptocurrencies | 5 |
| Shares | 140 |
Account types
FxPro has a single account.
Micro Accounts and Swap-free accounts or Islamic Accounts are available upon request. VIP Account is also entitled for trader of larger volumes offering discount on commission and spreads.
Login
Login Account is on FxPro website, where you register account step by step and login to FxPro account management area.
Direct
FxPro Direct is online account area based on web, where you get full control and connectivity over your FxPro account after login or registration.
Fees and commissions
We ranked FxPro fee levels low and average based on Live Account Spreads and compared to 150 brokers in our database.
The spread we collected for popular instruments from 6 markets and over 150 brokers
| Markets | Instruments | Low | Average | High |
| Forex | EUR/USD | 0.1-0.9 | 1-1.5 | 1.6 or higher |
| Indices | US 500 | 0.1-0.4 | 0.5-1.4 | 1.5 or higher |
| Commodities | Gold | 0.1-0.4 | 0.5-2 | 2.1 or higher |
| Stocks | Tesla | 0.1-0.5 | 0.6-1 | 1.1 or higher |
| ETFs | US Russell 2000 | 0.1-0.4 | 0.5-1.4 | 1.5 or higher |
| Cryptocurrencies | Bitcoin | 0.1-0.5% | 0.6-0.9% | 1% or higher |
Spreads
FxPro fees are built into a variable spread for MetaTrader and FxPro platforms, cTrader users will be charged 45$ per million traded.
As broker advertises its spreads are tight with no commission charges. On our test trades via MT5 the average spreads are high for Stocks and Indices compared to industry benchmarks.
| Markets | Instruments | Standard account | Other brokers’ avg spread |
| Forex | EUR/USD | 1.8 | 1-1.5 |
| Indices | US 500 | 2.8 | 0.5-1.4 |
| Commodities | Gold | 0.27 | 0.5-2 |
| Stocks | Tesla | 2.21 | 0.6-1 |
| ETFs | US Russell 2000 | – | 0.5-1.4 |
| Cryptocurrencies | Bitcoin | 47.5 | 0.6-0.9% |
Other Fees
FxPro has low non-trading fees. There is no fee for deposit, or withdrawals, or inactivity fee.
Trading Conditions
The trading conditions at FxPro are good. Almost all trading strategies are allowed including scalping and hedging.
| Trading Conditions | Yes/No |
| Hedging Allowed | Yes |
| Scalping Allowed | Yes |
| Change Leverage Allowed | Yes |
For hedging, there is no time limitation.
Scalping is allowed too, FxPro cooperating with BeeksFX for VPS service for MT4 and supporting Expert Advisors (EAs) with no restrictions.
Trading with leverage is offered, but the change of leverage and its maximum levels depending on the entity regulations and goes up to 1:500.
Deposit
FxPro charges no deposit fees. You can use bank transfer, credit cards, PayPal, and e-payments. The full range is different for each jurisdiction.
A bank transfer can take several business days, and payments with credit/debit cards and e-wallets are instant.
| Deposit Method | Funding Time | Fee |
| Bank Wire Transfer | Within 1 Working Day | 0$ |
| Credit / Debit Card | Usually within 10 min | 0$ |
| Skrill, Neteller | Usually within 10 min | 0$ |
| PayPal, Union Pay | Usually within 10 min | 0$ |
Minimum Deposit
The minimum deposit requirement for FxPro accounts is recommended 1000$.
Withdrawal
Similar to deposits FxPro covers fees for withdrawals.
Withdrawals are processed 1-2 business days, plus additional days for money to appear on your account due to payment providers.
| Withdrawal Method | Withdrawal Time | Fee |
| Bank Wire Transfer | 1 Working Day | Free |
| Credit / Debit Card | 1 Working Day | Free |
| Skrill, Neteller | 1 Working Day | Free |
| PayPal, UnionPay | 1 Working Day | Free |
Bonus
No, FxPro does not offer bonuses due to regulations.
Trading Platform
FxPro offers great variety of platforms including popular MetaTrader4 and MetaTrader5, the proprietary FxPro Edge and cTrader.
MT4
FxPro MetaTrader4 is also packed with additional tools like MT4 Autochartics and supporting multiple languages, available across all devices on Windows, Mac, and Mobile Apps for Android and IOs.
MT5
cTrader
A popular choice of professionals and active traders is available, we also found FxPro cTrader enhanced with advanced infrastructure, custom cBots and indicators.
Research and Tools
FxPro has good research tools.
Fundamental data is provided and technical tool inbuilt into platforms are widely offered, ‘Tools’ tab in FxPro Direct gives access to various services including FxPro Squawk, FxPro Dashboard, Trading Central, Economic Calendar, and Market News.
FxPro research tools are available in different places:
- Offered trading platforms
- Tools section on the website
- FxPro Direct
Education
FxPro education content is wide and good. You can learn through trading videos, Webinars, localy held Seminars, infographics, trading tools and daily outlooks.
Demo Account
Demo account is offered on free basis and available for all platforms.
FxPro education is overall good experience and you can learn in the:
- Demo account
- Trading videos and ebooks
- Webinars, Seminars
- Educational articles
- ‘Tools’ on Website and FxPro Direct
Customer Service
FxPro customer service is good, FAQ section has answered common issues and Live agents are helpful supporting various languages, we also got fast answer via the Live Chat.
From the downside Customer Support availably 24/5 and available by:
- Live chat
- Telephone
FxPro live chat is an average speed we connected with a little delay, Chat is also available on the platform
| Question Asked | We asked about trading bonus. |
| Time of Reply | We were connected to customer support Live Chat after not very long but waiting |
| Quality of Reply | The answer was informative, refereeing to relevant entity proposal |
Conclusion
FxPro is a safe broker to trade.
The company is well-regulated by various authorities including top-tier FCA and has good reputation. FxPro offers flexibility between selection of the platform making it suitable for beginners or professionals, also supporting with good education.
From the downsides, costs and spreads for some instruments like Stocks are high compared to industry.
We recommend FxPro for beginning traders and advanced traders who prefer flexibility between trading platforms, or run of various strategies including auto trading.
Author of this review
By Jimmy O'Brien
Author of this review
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.
Spread is pretty good. Funding and withdrawing process is easy. FxPro provides a lot of payment methods. Customer support answers quickly on all my requests. So far, everything ok. Highly recommend trying it.
Very comfortable conditions for trade. FxPro has a lot of benefits for me: regulation by the FCA, instant withdrawals, tight spreads, fast order execution, convenient platform, adequate initial deposit, helpful support, deep analytics, negative deposit protection. At the moment I really like to work with this broker and I don’t see an alternative to them.
I like this broker. FxPro is quite an old, big and reliable broker with British and Cyprus regulation. And I enjoy that they always try to improve the services and to offer flexible terms. What I can say for sure from my own experience, this broker doesn’t have problems with the support and with the withdrawal of funds.
I’ve been trading with fxpro for about 3 years, and I’m very happy with them. They’ve always been very responsive in regard to customer service, and their execution speed is top notch. And I always get good connectivity with their servers. Fxpro provide tighter spreads than many other brokers They aren’t the only broker I like, but definitely they at the top of my list of brokers.