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FxPro started its brokerage service operation in 2006. Today, the broker has successfully expanded to serve over 7 million retail and institutional clients across over 170 global countries. In the UK, FxPro is licensed and regulated by the Financial Conduct Authority (FCA). It also has other licences from top-tier global authorities like SCB, CySEC, and FSCA.
Overall, FxPro has earned over 110 awards for its exceptional services. It also has thousands of positive reviews from users on Google Play, the App Store, and Trustpilot. To confirm FxPro’s credibility and services, we decided to thoroughly test it. Find below our ultimate FxPro review based on our experience.
In This Guide
Our Opinion about FxPro
We tested FxPro’s performance and offerings and identified many great things. However, we also noted a few pitfalls, which we will discuss below. For instance, we like the broker’s user-friendly interface and ability to operate on desktop and mobile devices. However, we wish it could support the buying and taking ownership of some assets in the future.
In summary, here are the pros and cons we noted at FxPro:
FxPro
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
Pros & Cons
Pros
- The broker has multiple licences from tier-one authorities, including the FCA
- Free transactions across the supported payment methods
- Low minimum deposit requirement of £100 for UK clients
- A user-friendly and intuitive design platform
- Compatible with desktop and mobile devices
- Hosts multiple trading platforms, including WebTrader, cTrader, MT4, and MT5
Cons
- Limited asset offerings compared to its peers
- Features only CFD instruments
- The broker offers limited educational materials and resources
Security & Regulations
FxPro UK prides itself on being one of the most highly secured brokers in the UK. We explored its security measures to verify this claim and can confirm that the broker has traders’ interests at heart. For instance, the broker’s platform is SSL encrypted, ensuring no unauthorised access to your trading account.
Moreover, FxPro uses Cloudflare to stave off distributed denial-of-service attacks (DDoS). All these are managed by its team of professional technicians, who conduct frequent checkups and tracking to identify any suspicious activities.
FxPro offers UK clients negative balance protection, thus ensuring they do not lose more than they had initially deposited. And to maximise safety, it encourages its users to secure their trading accounts with two-factor authentication and strong passcodes.
We like that this broker is licensed and regulated by top-tier authorities. In the UK, its activities are overseen by the Financial Conduct Authority (FCA). Having this licence is a way of guaranteeing traders that they are safe with FxPro and that their funds are secured. Plus, you can enjoy investor protection privileges since this broker is a member of the UK’s Financial Services Compensation Scheme (FSCS).
That being said, here are other authorities regulating FxPro’s services to global clients.
- The Cyprus Securities and Exchange Commission (CySEC), licence number 078/07
- The Financial Sector Conduct Authority (FSCA), authorisation number 45052
- The Securities Commission of The Bahamas (SCB), licence no. SIA-F184
Platforms
Our experience trading at the FxPro platform was exceptional. We like that it has a variety of platforms, all of which are user-friendly. The best part is that each platform offers unique trading conditions, thus allowing for a more personalised experience.
See below the available platform you will find on this broker’s website:
- The FxPro WebTrader: This is FxPro’s proprietary platform, which we checked out. We like the fact that it is user-friendly with fast trade execution speed. Any trader will find it exciting, except for the more advanced traders looking for advanced features.
- MetaTrader 4: MT4 is a third-party platform most sought after by forex traders due to its advanced resources for forex trading. You will enjoy quality charting tools, powerful technical indicators, and more. The platform operates seamlessly on Mac and Windows devices. You can also access it using FxPro’s iOS and Android trading apps.
- FxPro Edge: For UK traders interested in spread betting, FxPro Edge is the right platform for you. You can trade multiple asset classes, which we will share in the sections below. You can also rely on this platform for top-notch features, including custom quick trade setups, 50+ technical indicators, and more.
- MetaTrader 5: This is MT4’s predecessor, which offers impressive features for all types of traders. Unlike MT4, which is primarily tailored for forex trading, MT5 has additional quality features for other assets like shares, forex, indices, and more. Moreover, it is fully customisable and features automated trading, 38 preinstalled technical indicators, and 44 analytical charting tools, among other features.
- cTrader: What makes cTrader unique is its ultra-low commissions on all traders. Other features to expect include automated trading, over 55 pre-installed technical indicators, 28 timeframes, 6 chart types, and more.
- FxPro Mobile App: While the above platforms are compatible with desktop and mobile devices, FxPro has its own proprietary app compatible with Android and iOS mobile devices. It has multiple features and functionalities, from the incorporated advanced TradingView charting to economic events and fund management tools. You can install the trading app on your device from the App Store or Google Play. We also like its safety measures like two-factor authentication, passcodes, and fingerprint settings.
Fees & Commissions for UK Traders
From our broker analysis and comparisons, we find FxPro to be one of the most affordable brokers for Ul clients. For starters, this broker has a free account opening procedure that takes minutes to complete. Moreover, it has a £1000 minimum deposit requirement, though you can deposit as little as £100. And when it comes to transaction costs, FxPro doesn’t impose any. We believe this makes it suitable for newbies who are sceptical about spending a lot of money and low-budget traders.
When it comes to trading charges, FxPro imposes low fees compared to other brokerage firms. For instance, forex trading attracts low fees, starting from 0.0 pips on major currency pairs. However, expect to incur additional costs for positions left overnight. There is also an inactivity fee of £10 monthly should your account remain dormant for over six months.
Product Offerings
FxPro UK lists over 2,100 CFD instruments to trade. These include shares, forex, metals, indices, energy, and futures. While we like trading these assets, its offering is limited compared to most of its peers. Let’s break down these offerings so you can fully understand what to expect.
- Forex: Forex trading at FxPro gives you access to 70+ currency pairs, including major, minor, and exotic. You will enjoy fast trade execution with low spreads starting from 0.0 pips.
- Shares: We also discovered thousands of shares to trade on this broker’s platform. These include popular options like Google, Meta, Apple, Barclays, Starbucks, and more.
- Indices: Popular indices across Europe, America, and Asia are available to trade as CFDs. You can trade this asset on multiple platforms, including MT4, MT5, FxPro Edge, and cTrader.
- Futures: For those who prefer trading futures, FxPro offers endless opportunities. Futures are a popular investment method that allows traders to speculate on the value of a range of commodities, indices, and energy.
- Energy: You can also trade popular spot energy commodities like Natural Gas and Brent Oil. These are ideal instruments for short-term trading and portfolio diversification.
- Metals: If you are passionate about metals like gold, palladium, platinum, silver, copper, and lead, FxPro is your one-stop platform. The best part is that you can explore them on a platform of your choice while incurring low charges.
FxPro Support Service
We contacted the FxPro support service to gauge its performance and response rate. Its team operates via phone, email, and live chat five days a week. We liked how prompt they responded, and we got relevant solutions that elevated our experience. You can trust the team with any concern or challenge for quality assistance during their operating hours.
In addition to human assistance, the FxPro broker has a comprehensive FAQ section with answers to commonly asked questions by traders. This page eliminates the need to contact the team since it answers most questions suitable for beginner traders.
How to Sign up For an Account at FxPro
Signing up for a trading account at FxPro is a straightforward procedure that takes minutes to complete. From our experience, you do not need any guidance to set up a trading account. Simply follow the guidelines we share below to get started.
Step 1: Visit FxPro’s official site
Step 2: Create a trading account
Step 3: Verify your account
Step 4: Make a deposit
Step 5: Start trading
First, you must visit FxPro’s official website to create a trading account. On this page, we share links that will redirect you to its site, whereby you should start by understanding its terms of service. For traders always on the move, ensure you install the broker’s app on your Android or iOS mobile device for efficient activity management. Most importantly, ensure you are 18 years and above since this is a major requirement for trading at any FCA regulated broker in the UK.
Click the “Register” button on FxPro’s page to start the account registration procedure. You will start by specifying your jurisdiction area and share your email and password. Then, tick the box below accepting the broker’s terms and conditions before proceeding to the next step.
You will then be required to select your preferred trading account, whether Standard, Raw+, or Elite. Choose what suits your skill level and share your other personal details as required. This information include your name, date of birth, email, source of income and phone number. And do not forget to create a unique username and string password for an added layer of safety to your account.
Since the FCA regulates FxPro, you will be required to verify your personal details before having your trading account fully activated. In this case, the FxPro broker will request that you share copies of some personal documents. For identity verification, you will share a copy of your original ID card. Plus, you must share another copy of your utility bill (not exceeding three months old) to verify your location. Document processing may take up to 2 business days. FxPro will then send an email notification once everything is set.
Once you receive a confirmation email of account activation, deposit funds to start trading. Note that the FxPro minimum deposit requirement is £100 with no translation charges. The best part is that it supports transactions using multiple payment methods, including credit/debit cards, e-wallets, and bank transfers.
Once your account is funded, choose an instrument and place your order. To avoid enormous losses, size your positions wisely, monitor all trades, and use risk management tools like stop-loss and take-profit orders. For beginners, start with a small capital since the financial market is unpredictable and losses can occur. Most importantly, consider starting your ventures using a demo account and transition to live trading once you are ready to risk real funds.
Conclusion
From our analysis, FxPro is a reliable and secure broker serving millions of global clients. If you are new to the financial space, feel free to thoroughly analyse this broker to ensure it fits your needs. We can confidently say that it has enough learning materials and professional support to help you get started on a good note. Expert traders will also enjoy their experiences with this broker, especially on its advanced platforms like MT4, MT5, and cTrader. We wish it would add more asset classes, such as options, in the future so that every trader can explore this amazing broker. Overall, we hope this FxPro broker review has been helpful. So, feel free to test the broker via its demo account, and hopefully, you will enjoy its offerings just as we did.
InvestingGuide Rating:
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
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Risk Warning
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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