FX Pro is an exchange that facilitates spread betting. Spread betting is the betting on the price of assets without actually owning those assets. Not all exchanges allow for spread betting, but FX Pro does. So, if you prefer not to own the assets that you bet on or invest in, then FX Pro could be a good option for you. FX Pro offers many different assets to trade, and it has reasonable fees. Here is a closer look at the FX Pro exchange.
- Wide range of markets
- Reasonable fees
- Good leverage
- Helpful trading tools
- 1. Spread Betting Trading Offer:FX Pro has spread betting available for many different assets
- 2. Spread Betting Trading Costs: Costs are reasonable on the site
- 3. Accounts: There is no shortage of account options on the site
- 4. Spread Betting Trading Platforms: There are many different trading platforms to choose from on the FX Pro broker
- 5. Usability of the Website: It is very user-friendly
- 6. Customer Support: Contact options: Many contact options available
- 7. Methods of Payment: There are a good number of options available
- 8. Additional Offers: FX Pro has great trading tools and demo accounts
- 10. Awards: Awards: The exchange has won an uncanny amount of industry awards
- 11. Conclusion: An exceptional broker for spread betting
Trader Rating Total
depends on type of account
up to 1:30
MT4, MT5, Broker-owned Software
Yes, available for 30 days
1.) Spread Betting Trading Offer:FX Pro has spread betting available for many different assets
With FX Pro, you can conduct spread betting on five different asset classes: Forex, Spot Indices, Shares, Spot Metals, and Spot Energies. Spreads are as low as .45. So, there is a lot of flexibility for spread betting, and you can bet on many different types of assets on FX Pro. There is no shortage of options to choose from, and the spreads are relatively tight. There are several different account types available on the site. The account that is best for you depends on your trading needs.
The average spread on the site is 1.39 EURUSD. Commissions are not charged for most trades on the site. This is a major benefit, because many other exchanges charge commissions, and they can be very expensive and inconvenient to pay. The site instead makes money by charging by the spread for the bulk of its trades. Many people view this as preferable to having to pay a set commission for every trade.
- FX Pro has spread betting with spreads which are reasonable
- Spreading betting is available for five asset classes
- No commissions are charged for most trades
2.) Spread Betting Trading Costs: Costs are reasonable on the site
Many people ask “is FX Pro legit,” or “is FX Pro a good broker.” Well, as mentioned above, the fees for spread betting on the FX Pro broker start at .45, with the average spread being 1.39 EURUSD. These fees compare very well to other brokers. Also, again, there are no commissions for the majority of trades made on the website. However, for FX cTrader accounts, there is a $45 fee charged for every million dollars traded on the site.
This fee is only relevant for people who will be trading an extremely large amount of money on the site, however. If FX Pro does charge fees for account inactivity, it is not abundantly clear their website. The maximum leverage that can be used on the site is 1:30. However, if you plan on using leverage to take a position, then you should do so with extreme caution. If you don’t, then you could quickly find yourself in a bad situation if your trade doesn’t go your way.
- FX Pro does not charge ridiculous fees for spread betting
- Most trades made on the site do not have commissions
- Trades over $1 millions for certain accounts can have commissions of $45
3.) Accounts: There is no shortage of account options on the site
There are many different accounts available on FX Pro. In fact, traders can choose from five different trading accounts on the site. These accounts are the demo account, the MT4 Account, the MT5 Account, the c Account, and the FX Pro Markets Account. If you are just a beginner, then you should strongly consider using the demo account to practice with. The demo account uses fake virtual money, so there is no financial risk – it is just for practice.
The MT4 Account and the MT5 account are good for traders with mid-level level experience. The c Account and FX Pro Markets Accounts are for master traders, and for traders who will be trading large amounts of money. All of the real money accounts have a maximum leverage of 30:1. So, this gives you access to a lot of capital, if you feel that you need it. But again, if you plan on using a lot of leverage, you need to be really careful.
- Five account options with accounts for different levels of skill
- Demo account available for beginners
- Maximum leverage of 30:1 for all real money accounts
4.) Spread Betting Trading Platforms: There are many different trading platforms to choose from on the FX Pro broker
FX Pro has four trading platforms available. These platforms are high quality and help to answer the questions, “is FX Pro legit” and “is FX Pro a good broker.” These platforms are the FX Pro MT4, the FX Pro MT5, the FX Pro c Trader, and the FX Pro Markets. All of these platforms have high leverage limits, low fees, charting tools, and other useful features. If you would like to trade on your mobile device, however, then the FX Pro Markets platform is probably the best for you. This is because it is available both for mobile, and for the web.
All of these platforms have rapid execution. The MT4 and MT5 platforms are better for beginners and traders with medium levels of experience. The other two platforms are better for highly advanced traders. However, all of these platforms are high quality and are used by many traders. Rapid execution is also available for all of these trading platforms. This means that you will not have to wait for long periods of time to get your trades executed. This is desirable for most traders because the faster trades can be executed, the faster market conditions can be reacted to.
- 4 platforms to choose from
- Mobile platforms available
- Spreads 500:1
5.) Usability of the Website: It is very user-friendly
A good spread betting broker comparison will tell you that FX Pro is extremely easy to use. If you have never been to the website, then you will probably be impressed by its simplicity and user-friendliness the first time that you actually log on to the website. The color scheme of the website is primarily white black backgrounds with red or white text. Everything is very easy to find on the website, including the legal information and the terms of business. The top products are very well advertise and anyone who is using the site should be able to easily find them. The user-friendliness of the site is a major advantage of a FX Pro. Not all sites are user friendly. So, the fact that this one is puts it ahead of some of its competitors. Overall, the site is very sensibly structured, and it has a tab menu that makes navigation very easy. The information about fees, platforms, and accounts is also easy to locate. This is relieving because this information can actually be difficult to find on some other exchanges.
- The site is very user-friendly
- Top products are easy to find
- Legal information and terms of business are also easy enough to find
6.) Customer Support: Contact options: Many contact options available
There are four contact options available for FX Pro. This fact helps the answers to the questions, “is FXPro legit?” and “is FX Pro a good broker?” be yes. These contact options are email, phone, fax, and snail mail. If you would like to send snail mail to FX Pro, you can do so using the following mail address: 13/14 Basinghall Street, City of London, EC2V 5BQ. However, this is the slowest way to reach the company, and therefore, it is not recommended.
The fax number for FX Pro is +44 (0) 207 600 7063. This option is also not the fastest way to reach the company. However, it is typically faster than snail mail. The email for the company is [email protected] Finally, the phone number for FX Pro customer support is +44 (0) 203 151 5550. Phone is by far the fastest way to reach customer support for FX Pro. So, if you have a need to contact customer service during the week, then you should definitely call the phone line to get the speediest service. Customer support for the company has a very good reputation. So, you should have no trouble getting your issue resolved.
- 4 options available for customer support
- Phone is the best option
- No live chat available, fax is available though, if you prefer to use fax machines
7.) Methods of Payment: There are a good number of options available
Making a deposit or a withdrawal on the FX Pro broker is easy. That’s because there are so many deposit and withdrawal options available. For example, you can use bank transfers, credit cards, debit cards, and online wallets with FX Pro. Credit cards and debit cards that the site accepts include Visa and MasterCard. Online wallets that the website accepts include PayPal, Skrill, Neteller, and UnionPay. So, whether you prefer to use standard bank transfers, e-wallets, credit cards, or debit cards, there will most likely be a great option for you.
Processing time for transactions is typically just one working day. So, you can get your money in and out very quickly. Withdrawals and deposits for most options are free. However, there is a small fee for PayPal, Visa, and MasterCard deposits. So, if you can use an online wallet other than PayPal, or if you can do direct bank transfers, then you will save money. If you will be depositing a large quantity of money, or making frequent deposits, then these amounts can really add up over time.
- Several different payment methods available
- Deposit fees for PayPal, Visa, and Mastercard
- Bank transfers, Skrill, UnionPay, and Neteller are the cheapest
8.) Additional Offers: FX Pro has great trading tools and demo accounts
There are many different additional offers available on FX Pro, and that is part of the reason why this exchange is such a good option. For example, there is a great demo account that users can open to practice investing. There are also many trading tools that are extremely useful for helping you to make intelligent trading decisions. For example, there is an economic calendar, an earnings calendar, live spreads comparisons, and many more. In fact, FX Pro has one of the largest trading tools offerings of any exchange on the web.
This is very good for traders who prefer to use a lot of trading tools to help them generate trading insights and to capitalize on market trends. If you fall into this category, then this exchange may be the perfect place for you to do your spread betting. However, there are a lack of educational materials such as courses, ebooks, webinars, seminars, etc. Available on the site.
- FX Pro has a wide variety of trading tools available for traders to use
- There is no education section, however
- Demo accounts are very good quality and gives real access to practice in the markets
9.) Regulation & Deposit Protection: FX Pro is licensed and regulated by government authorities in multiple countries.
FX Pro is licensed and regulated by the Financial Conduct Authority in the UK. The registration number for this exchange is 509956. This exchange is also licensed and registered in several other countries such as Dubai and Cyprus. However, even though it is licensed and registered in many different places, that does not mean that people in every country can use the site. In fact, only people in supported nations such as the UK, Dubai, and Cyprus can use the exchange. The site uses SSL encryption to protect data.
It also has deposit protection. FX Pro has protection for minors, meaning, they are not legally allowed to use the site. This is because they are deemed unfit intellectually and in terms of maturity to make sound trading decisions. So, they are barred from the site. This is common practice for most major exchanges in most countries around the world in order to prevent minors from making major mistakes.
- FX Pro is licensed and regulated by authorities in several different countries
- These countries include the UK, Dubai, and Cyprus
- Minors are not allowed to trade securities on the site
10.) Awards: Awards: The exchange has won an uncanny amount of industry awards
FX Pro has won a very large amount of industry awards. In fact, it has won so many awards that it makes competitor exchanges look very inadequate. The exchange has won over 50 major awards. These awards include Best MT5 Broker, 2017 (UK Forex Awards), Best Execution Broker, Global, 2017 (Global Brands Magazine), Best Global Trading Platform 2010 (World Finance Magazine), and many, many more. The fact that FX Pro has won so many words speaks loudly to its quality. It means that the exchange is respected by both users and industry experts. It is not easy to win these awards. Many exchanges never win any industry awards. So, this is another mark of quality for the exchange. However, despite the fact that FX Pro has won many awards, this doesn’t mean that the exchange is perfect, or that there is not room for improvement: there is. In fact, the exchange could really improve by providing more educational resources.
- FX Pro has won over 50 important industry awards
- The fact that it has won so many awards is very impressive
- Many exchanges never win a single award.
Conclusion: An exceptional broker for spread betting
FX Pro is a great exchange. There is no getting around it. If you use this exchange for your spread betting, then you are probably going to be very satisfied. The only way that you may not be satisfied is if you are looking for completely free deposits or withdrawals, and if you use PayPal, Visa, or MasterCard. This is because you will be charged a small fee for these transactions.
Also, if you are looking for educational materials, then you may be dissatisfied with the exchange too. However, if you are just looking for an excellent exchange with great platforms, and a lot of trading tools, then you will probably be very happy with the exchange. You can get 30:1 leverage, instant trade execution, and many other great benefits by using this exchange.
So, if you have been looking for a high quality exchange to conduct your spread betting on, then you should strongly consider using FX Pro. After all, it is pretty rare for an exchange to have won over 50 major industry awards. That says an awful lot about the quality of the exchange. You would be hard-pressed to find many other exchanges with this many awards. FX Pro might not be the best spread betting broker, but if it isn’t, then it is probably very close. A good broker comparison will show you this.
- won a lot of awards
- many trading platforms
- Tigh spreads
- Many tradeable assets
- No educational materials
- Some deposit fees