FxPro

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13 minutes read/21 Sep 2021

FXPro is a well-established broker in the forex and CFD trading industry with a main operating base in Cyprus where they are regulated by the widely respected CySEC regulatory body.

Our FXPro review also notes that the company offer services within multiple other jurisdictions on a well-regulated basis such as Dubai, and South Africa.

The company trades as a (UK) Limited in the United Kingdom where they offer a full range of broker services to a growing trader base which has been built in over a decade in the industry since they first entered in 2008.

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FXTM (trading under ForexTime Limited) is a multi-award-winning, leading Forex and CFD broker. Regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK, FXTM not only provides a safe and secure place to trade but an industry-leading experience for traders of all levels. You can get started with just £100 or practice for free in a demo account

Broker Overview

FxPro Lower trading fees

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😁 We really liked…
  • Widely respected regulation by some of the top bodies in world finance
  • A huge catalogue of tradable assets to choose from
  • Long experience in the sector and partnership with some of the top trading platforms
😕 Could improve...
  • The broker website is not always easy and clear to navigate
  • The deposit to open VIP account is very expensive
General Information
Website FxPro
Founded 2006
Minimum deposit £100
You can trade Forex , CFDs , Stocks , Futures , Spread Betting

FxPro Review Navigation

What can you trade?

#1 Forex

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Min Deposit App Support Max Leverage Trading Fees
£100 Mid 1:30 Mid

When it comes to trading we can safely say that our FXPro review team were left impressed by the number of assets the broker makes available for you. This availability starts with more than 70 currency pairs from all around the world. These include major pairs like the USD/EUR and more like you would expect, to a large number of minor pairs and a selection of exotic pairs too. You can find much of what you need as a forex trader here.

Though the choices here are varied and this created happiness within our review team, they were not so pleased to note the higher than average spreads across each account type even when some of the commission-free trading was taken into account.

The average spread on major forex markets with brand starts from a rather heft 1.4 pips at best on most account types and only goes up from there. There is also a confusing, time-bound system in place which can serve to elevate this number further.

With that said, broker does provide a huge brand-name recognition in terms of trading forex and our UK review team, in particular, think that this can act as a good counterbalance to the marginally higher spreads.

#2 CFDs

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Min Deposit App Support Max Leverage Trading Fees
£100 Good 1:30 Mid

An FXPro CFD review from our team also informs us that the broker offers in excess of 250 tradable CFD assets. That is in the mid to high range when we compare it with other top brokers in the industry and is something which should be expected of the broker has been in the sector for more than 10 years.

The CFD review showed us that these CFD assets span across multiple markets and include assets in shares, commodities, indices, and futures. This is something that could be considered somewhat rare for a major broker.

#3 Stocks

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Min Deposit App Support Max Leverage Trading Fees
£100 Good 1:5 Mid

Our review on CFDs uncovered a particularly packed category when it comes to stocks. This enables you as a trader to get involved in shares CFDs from companies around the world. The likes of Amazon, Tesla, and more, are all available for investment. The only slight hiccup that our FXPro CFD review team do see here is the relatively high spreads and fees on the assets. These can sometimes amount to more than 2.7% although the average here does vary and represents better value on some trades than others.

With that in mind then, the UK review team would recommend carefully selecting which trades you want to make prior to doing so with the broker. This should mean that you are knowledgable and ensure to get the best deal possible for your money from the more than 150 markets available in this category.

#4 Futures

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Min Deposit App Support Max Leverage Trading Fees
£100 Mid 1:10 Mid

FXPro futures trading is offered in a few key markets across commodities, energies, and metals.

Again the spreads remain quite high here and subject to change and increase outside certain hours. If you are interested in trading futures though, our CFD review team does note that this is one of only a few top forex brokers where you can do so.

#5 Spread Betting

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Min Deposit App Support Max Leverage Trading Fees
£100 Good 1:30 Low

This is an innovative new platform called FXPro Edge that our UK review team was captivated by. This is also the only area in which the spread betting side as a broker can be accessed.

While it is fun, new, and exciting, the platform is still in the early stages of development and so the functionality is somewhat limited. Spreadbetting itself can also be a very risky endeavor, particularly for newer traders.

What did our traders think after reviewing the key criteria?

Fees

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As you will no doubt have gathered from reading our FXPro review in every category above, including the CFD review as well as from a forex perspective, the broker can be a little expensive.

The fees are proportionately higher when it comes to spreads and these are also more difficult to interpret and variable than you may find when dealing with other brokers. They do provide you with a strong choice in markets to trade and platforms nonetheless.

Account Types

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The account type offering from FXPro left our review team feeling that the standards had only just been met. There are three account types to choose from, these are your MetaTrader account which provides access to that trading platform, the cTrader account for those of you who wish to trade with that, and the FXPro Edge account for anyone interested in spread betting.

This is particularly important if you are reading from the angle of an UK review because the spread-betting option is only available there.
The last account choice that our UK review team looked at was the VIP account although this is not feasibly accessible to many regular traders due to the minimum deposit requirement of $50,000.

Platforms

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This is something that our FXPro review team did feel the broker excelled in. They manage to offer not one, but two of the most instantly recognizable and well-trusted platforms in the industry for trading.

fxpro platform

Metatrader platforms MT4 and MT5 which are both offered, are often considered to be the gold standard when it comes to forex trading and CFD trading alike. This is true, however they are closely followed by cTrader which is used by many in the industry as another really professional and well-equipped platform.

The fact that the broker manages to offer all of these options in tandem with their own spread-betting platform is a fact that our UK review team, in particular, were impressed by.

Usability

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An important element of any top broker is usability. This includes the convenience of navigating the website, alongside the ease of use associated with its trading platforms. The second of these was no problem for our experienced FXPro review team.

They did find that certain elements within the site were rather cumbersome though. It was somewhat slow to load in the first instance and the process of finding and downloading your chosen trading platform and signing up for a simple demo account seemed to be unnecessarily complex.

One could make an argument that the site and broker simply have too much going on, and would provide a much cleaner and easier to use experience by simply going back to basics which include a simplified process in accessing your selected trading platform without having to delve through a range of emails.

Customer Support

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