FxPro Broker Review

Author By Jeffrey Cammack
Updated: April 9, 2021
Overall Rating
4.24 4.24 / 5
Rated #15 of 50 Recommended Brokers
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 14
Website Language
English, Polish, Arabic, Chinese, Portuguese, Japanese, Hungarian
Support Language
English, Polish, Arabic, Chinese, Portuguese, Japanese
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

Forex Malaysia follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

Summary

One of the most respected Forex brokers in the industry, FxPro is well regulated and has over 870,000 client accounts in 173 countries. FxPro offers a no dealing desk execution model and trading on six asset classes, including Forex, shares, indices, futures, metals, and energies.

With full support for the MT4, MT5, c-Trader, and FxPro proprietary platforms, and a minimum deposit of 100 USD, FxPro boasts excellent trading conditions. It also offers various commission-free deposit and withdrawal methods.  One drawback for beginner traders considering FxPro is its limited selection of educational and market analysis materials. However, its responsive customer service is available 24/5 in 18 languages, including Malay.  Malaysians will also be pleased to note that FxPro offers Islamic swap-free accounts. 

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
111115/ 5
Deposit & Withdrawal
111115/ 5
Education & Research
1110.503.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Excellent
Bonuses
None

Account Information

Base Currencies
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
Number of FX Pairs
70+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.60 pips
Commission
9 USD / lot
EUR/USD
1.9 pips
GBP/USD
2.4 pips
USD/JPY
1.6 pips
Max. Leverage
200:1

Company Details

Company Name
FxPro UK Limited
Founded
2006
Office Locations
United Kingdom, Cyprus, Bahamas

Pros

  • Well regulated
  • Great platform choice
  • Tight spreads

Cons

  • Limited education

Is FxPro Safe?

Founded in 2006 and headquartered in London, FxPro is regulated by many top-tier authorities, including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) of South Africa, and the Securities Commission of the Bahamas (SCB). Malaysian traders should be aware that the Securities Commission of Malaysia (SCM) does not currently licence trading with FxPro. See below for a list of FxPro registered companies:

  • FxPro UK Limited is authorised and regulated by the FCA (license 509956).
  • FxPro Financial Services Ltd is authorised and regulated by CySEC (license 078/07).
  • FxPro Financial Services Ltd is authorized and regulated by the FSCA (FSP 45052).
  • FxPro Global Markets Ltd is authorised and regulated by the SCB, license no. SIA-F184.

Founded in 2006, FxPro has collected over 60 awards from its industry peers. Recent awards include Best Broker 2014-2020 (Financial Times and Investors Chronicles Awards 2018), Best Forex Trading Experience 2018 (UK Forex Awards), Best Forex Provider 2014-2018 (Investors Chronicle & Financial Times Investment and Wealth Management Awards), Most Reliable Broker of the Year (Global Markets) 2018 (International Investor), and Most Trusted Forex Brand, UK, 2017 (Global Brands Magazine).

As required by regulation, client funds are deposited in accounts at top-tier banks in the region of their account regulation.  FxPro also offers Negative Balance Protection to all clients as part of the Client Agreement. Malaysian traders fall under the jurisdiction of FxPro Global Markets Ltd, which is regulated by the SCB.

Taken together, the strict banking standards, the first-class international regulation, and the industry praise, we deem FxPro a trustworthy and safe broker.

Trading Conditions

FxPro has a single account type, but trading conditions vary depending on the platform used. All client trades are executed with No Dealing Desk intervention. Most trades are filled in under 10 milliseconds, and trades are executed at one of FxPro’s Equinix Data centers in either London or Amsterdam. FxPro’s trading servers are co-located and cross fiber connected with Tier 1 banks that provide liquidity via its proprietary aggregator Quotix.

Account Types

FxPro offers trading on six different instruments, including Forex, futures, indices, shares, metals, and energies.  Traders can choose between five different platforms – MT4, MT4 Instant, MT5, cTrader, and FxPro platform, and there is an account type associated with each platform. All FxPro accounts have both demo and mobile options, regardless of the platform. VIP services are available on all platforms and are triggered by larger trading volumes and deposit amounts. The minimum deposit is 100 USD on all accounts, with a recommended starting balance of 500 USD.  Stop Out levels are at 50% for all account options, minimum transactions on Forex trades start at 0.01 lots, and leverage is up to 200:1.

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
FxPro cTrader
USD 100
500:1
0.45
$4.50
Account Details
FxPro MT4
USD 100
500:1
1.20
None
Account Details
FxPro MT5
USD 100
500:1
1.52
None
Account Details
Islamic
USD 100
500:1
1.20
Variable
Account Details

MT4 Account

The MT4 account is a market execution account that allows trading on forex, metals shares, indices, energies, and futures.  Spreads start at 0.6 pips and average at 1.40 pips.  Leverage is up to 200:1, depending on the instrument, and no commissions are charged. 

MT4 Instant Account

The MT4 Instant Account is similar to the MT4 Account, except that it employs instant execution.  Traders can accept the price they are offered or receive a requote. 

MT5 Account

The MetaTrader 5 account is for those who want to use the popular trading platform’s latest generation. This account offers market execution, variable spreads, no requotes, and partial fills for orders that lack liquidity. The spreads on this account are in line with the MT4 account.

CTrader Account

A commission of 9 USD / lot is charged, and has significantly tighter variable spreads than on the MT4 and MT5 accounts. This combination of tight spreads and commission fees is common for professional accounts. Trading is offered on Forex, metals, indices, and energies.

As with the MT5 account, the cTrader account includes market execution of trades, no requotes, and variable spreads. Furthermore, this account does not limit the stop/limit levels.

FxPro (EDGE)

The FXPro is a market execution account that allows for trading on all instruments (Forex, metals, indices, energies, equities, and shares).  Spreads are the same as for the MT4/MT5 accounts, and no commissions are charged. 

Demo Accounts

Prospective traders can open an FxPro demo account.  Loaded with 500,000 in virtual funds, demo accounts are available for all platforms.  Demo accounts are a great way to familiarise oneself with markets and practice trading strategies. 

Spreads and Commissions

Spreads and Commissions

The MT4, MT4-Instant, MT5, and FxPro are commission-free accounts, with fees included in the spreads.  Spreads start at 0.6 pips, but average EURUSD spreads are around 1.40 pips. Spreads on the c-Trader account are much lower, with the EUR/USD averaging at about 0.3 pips, but with an additional commission of 0.0 USD round turn per lot traded.  Note that on the c-Trader account, commissions are only charged on Forex and Metals trading. Indices and cryptocurrencies are commission-free.

 

FxPro uses a dynamic forex leverage model on the MT4, MT5, and cTrader platforms which automatically adapts to clients’ trading positions. As the volume per instrument increases, the maximum leverage offered decreases accordingly; as per the following table:

Fx pro leverage

Deposit & Withdrawal Fees

A well-regulated broker, FxPro ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all withdrawals are returned to the deposit source.  There are no deposit or withdrawal fees for Bank transfers and Credit cards; however, be aware that the sender’s bank may charge according to its own fee structure.  Deposits for all payment methods take around 10 minutes, and withdrawals are processed within one working day. E-wallets such as Skrill and Neteller generally do not charge a fee with withdrawals, but there are conditions:

  • Skrill: a fee of up to 2.6% will be charged if a withdrawal is requested without having traded.
  • Neteller: a fee of up to 2% will be charged if withdrawal is requested without having traded.

FxPro for Beginners

FxPro is one of the largest and most respected brokers in the industry and, as such, is an excellent choice for new traders.  However, FxPro provides a limited selection of educational and market analysis materials compared to other brokers.  Materials are presented in written and video formats.  However, Malaysians should note that some of the educational materials are not available when searching in Bahasa Melayu. 

FxPro’s platform offering also includes c-Trader, which is more beginner-friendly than MT4 and MT5. The setup is minimal by comparison, and the user interface is newer and easier to navigate. c-Trader will give beginners at FxPro a head start over those using the Metatrader suite.

Educational Material

FxPro offers a publicly available education library – topics covered include Forex education, technical analysis, fundamental analysis, and trading psychology. While there is little structure or depth to the material, the information is accurate.  Again, educational materials are not available in Bahasa Melayu.

Analysis Material

The FxPro news blog supports readers with commentary, analysis, and daily stories related to future market movements and trading opportunities. Live webinars are broadcast frequently on various subjects in multiple languages, and videos are uploaded to YouTube for later viewing. FXPro also offers a standard economic calendar for planning.

Customer Support

Global support is available 24/5, from a multilingual team at FxPro offices worldwide. Support is available in 18 languages, including Malay. Should you wish to visit a local office, this can be arranged in advance.  Support teams at FxPro are available to help with technical and account-related questions but, as with all regulated brokers, cannot offer investment advice.  Note that to make use of the live chat service, one has to register an account.

FxPro Trading Platforms

FxPro has a single Forex trading account offered on four different platforms – MT4, MT5, c-Trader, and the FxPro platforms. While MT5 is a newer and upgraded version of the MT4 platform, the MT4 platform remains the industry standard.  For beginners, MT4 and MT5 can be tricky to set up, but there are numerous guides in both text and video format to guide you through this process. The c-Trader is more beginner-friendly and needs fewer tweaks to optimise it for Forex trading, but there is less guidance freely available on the internet.  The FxPro proprietary platform integrates seamlessly and provides an interactive economic calendar.  See below for more details on each platform:

MetaTrader 4

MT4 has established itself as the industry standard, containing everything a trader needs to chart assets, place orders, and manage positions.  Features include 50+ preinstalled technical indicators, 24 analytical charting tools, 3 chart types, 9 timeframes, and 1-click trading.  Traders can also add custom EAs and indicators.

MetaTrader5

Continuing its predecessor’s reputation, the MT5 platform provides traders with everything they need to trade the financial markets.  It incorporates all of the key features of MT4 and an optimised environment for EA trading. Features include 38+ preinstalled technical indicators, 44 analytical charting tools, 3 chart types, 21 timeframes, additional pending order types, detachable charts, trailing stop, Depth of Market, and an integrated Economic Calendar.

CTrader

Developed by Spotware, cTrader is fast becoming one of the most popular platforms used by traders.  It provides an added level of market analysis and access to full market depth on a fully customisable user interface.  Alongside superior order execution with no dealing desk intervention, it provides one of the industry’s most innovative trading experiences.  Features include 55+ preinstalled technical indicators, 6 chart types and 28 timeframes, level 2 Depth of Market, no restrictions on stop/limit levels, detachable charts and linked charts, advanced order protection, market sentiment, integrated Economic Calendar, and the ability to add custom cBots and indicators. 

FxPro

The FxPro Platform is a great option for those who wish to conveniently manage their funds and trade the full range of CFD asset classes directly from the FxPro App, without having to install any other applications.  /it offers 50+ technical indicators and charting tools, detachable chart windows, useful trading widgets, a customisable layout, and  6 chart types with 15 timeframes.

Mobile Apps

All versions of these applications have downloadable versions for PC and macOS and web and mobile interfaces.

FxPro Mobile Trading Apps

FxPro supports mobile versions of all MT4, MT5 and cTrader, and customer service is available 24/5 to answer questions about the software and help with setting it up.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FxPro offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Risk Disclosure

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FxPro would like you to know that: Trading CFDs carries a high level of risk and may not be suitable for all investors. Please ensure that you understand the risks involved as you may lose all your invested capital. 77% of retail investor accounts lose money when trading CFDs with this provider. Past performance of CFDs is not a reliable indicator of future performance. Most CFDs have no set maturity date, and a CFD position matures on the date an open position is closed.

Overview

FxPro is at the forefront of leading traditional Forex brokers and heavily promotes the accolades they have received over the years. It has strong international regulation and offers one account type on a wide selection of trading platforms.

Trading conditions across the accounts are excellent, and as an NDD Intervention broker, there is no potential for conflict of interest.

An open approach to education is a part of FXPro’s marketing strategy, but account-holders should not expect in-depth or well-structured materials. Furthermore, educational and market analysis materials are not translated into Malay.  That said, customer support is accessible and responsive, a real benefit for beginners with many questions.   

Overall, FxPro is a dependable choice for beginners looking for a strong, traditional and safe broker.

AlertAccepts Malaysian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA
  • Andrew says:

    A very good broker and very reliable. I have been trading with them for a few months now and I have no problems to date. Deposit and withdrawal is a quite simple process, as the account verification process. I can not say anything bad about fxpro to date. Quite professional services.

  • Qam says:

    New company for me. I’m trading here only for the last several months but I’m satisfied at the moment. Registration and funding are easy and fast, range of instruments is wide enough. Metatrader is stable. In addition, there is a good mobile version. Convenient to trade on the go.

  • Naman says:

    FxPro is a very old and reliable broker, with many licenses. I have an account with them for the last 6 month. No problems so far. I withdraw all my profits very fast and no one interrupts me. Support is helpful, available 24/5. Modern and technological platform.

  • Abdullah Saratim says:

    Adakah Fxpro mempunyai staff atau advisor bernama Misliah binti Ahmah.? Adakah Fxpro ada menawarkan pakej rm350 dlm masa 4 jam dapat profit Rm8000+++ dan client perlu bayar SST 10% sebelum profit di bayar kepada client?

  • Abdullah Saratim says:

    sya dah melabur pada awal september dlm pakej Rm350 yg menjanjikan pulangan Rm8000++++ dalam masa 4 jam. tapi sampai sekarang tidak dibayar dgn alasan sya mesti bayar 10% SST terlebih dahulu. pada awalnya advisor mengatakan tiada sebarang bayaran untuk dpt profit tu.

    • Chris Cammack says:

      Hi Abdullah. FXPro would never offer this kind of investment as it is illegal for brokers to invest on behalf of a client. I am afraid that it sounds like you have been scammed by a conman. It is also important to note that Forex trading cannot guarantee this kind of profit that you have been offered.

  • Haftor says:

    So far I never get in trouble with this company. The broker is old and reliable with a good range of platforms.

  • Chung says:

    Maybe one of the most reliable brokers nowadays.
    Extremely fast deposit/withdrawals via PayPal, instant execution, real negative balance protection, and many instruments are offered.
    The only issue: sometimes in very volatile moments, they could have better server response, but this is happening with many brokers.
    I have mostly good experience with Fxpro!

  • Scroll for more detailsPreviousNext
    Overall Rating
    Min. Deposit
    Regulation
    Trading Desk Type
    Trading Instruments
    Forex Pairs
    Crypto Pairs
    Pros
    Cons
    Regulation
    Trading Conditions
    Trading Platforms
    Deposit & Withdrawal
    Education & Research
    Assets Available
    Customer Service
    % Lose with this broker
    Leverage
    Spread
    Hedging
    Scalping
    Account Types
    Islamic Account
    Trading Platforms
    Funding Methods
    Trading Commission
    11110.54.24/ 5
    USD 100
    Market Maker NDD
    Forex
    Indicies
    Metals
    Equities
    Energies
    Futures
    70+
    5
    • Well regulated
    • Great platform choice
    • Tight spreads
    • Limited education
    111104/ 5
    11110.54.5/ 5
    111115/ 5
    111115/ 5
    1110.503.5/ 5
    1110.503.5/ 5
    111104/ 5
    77% of retail investor accounts lose money when trading CFDs with this provider
    200:1
    0.60 pips
    FxPro cTrader
    FxPro MT4
    FxPro MT5
    Islamic
    FxProEdge
    Bank Transfer
    Visa
    Mastercard
    Maestro
    Skrill
    Neteller
    Unionpay
    9 USD / lot
    11110.54.00/ 5
    USD 5
    Market Maker NDD
    ECN/DMA
    60+
    9
    • Great platform choice
    • Low minimum deposit
    • Limited education
    111104/ 5
    111115/ 5
    111115/ 5
    100001/ 5
    1110.503.5/ 5
    111104/ 5
    111104/ 5
    58% of retail investor accounts lose money when trading CFDs with this provider
    1000:1
    0.20 pips
    cTrader NDD
    MT4 Cent
    MT4 Fixed
    MT4 NDD
    MT4 NDD No Commission
    MT5 NDD
    Bank Transfer
    Visa
    Mastercard
    Skrill
    Neteller
    WebMoney
    Fasapay
    PerfectMoney
    6 USD / lot
    11110.54.07/ 5
    USD 100
    Market Maker NDD
    Forex
    Equities
    Cryptocurrencies
    Commodities
    40
    4
    • Great platform choice
    • Excellent education
    • Limited demo account
    • No swap-free account option
    • Extreme leverage
    111104/ 5
    11110.54.5/ 5
    11110.54.5/ 5
    11110.54.5/ 5
    110.5002.5/ 5
    111104/ 5
    111104/ 5
    0 of retail investor accounts lose money when trading CFDs with this provider
    500:1
    0 pips
    Raw
    Standard
    Visa
    POLi
    Bank Transfer
    BPay
    Skrill
    Neteller
    Unionpay
    7 USD / lot

    Visit Broker
    AlertMost retail CFD accounts lose money. Your capital is at risk.

    Share your knowledge

    Stay updated

    This form has double opt in enabled. You will need to confirm your email address before being added to the list.

    Featured Brokers

    Close
    >