FxPro Pros & Cons | Get Information at a Glance

Introduction

FxPro is one of the most famous Cyprus and worldwide brokers that has a long tracking record since 2006. FxPro is now trusted by over 1.5 million clients from over 170 countries around the world. It’s also regulated by top-tier financial authorities including the FCA, The Financial Conduct Authority. FxPro has a variety of trading products including Forex, CFDs, stocks, metals, and cryptos. The good part is that FxPro has low trading and non-trading fees. FxPro offers a variety of educational materials including video tutorials, articles, and a demo account option.

In this article we’re addressing the main pros and cons of FxPro in each broker aspect.

FxPro

Pros

Cons

Safety

  • Over 1,866,000 clients
  • Over 15 years of trading experience
  • Regulated by top-tier FCA
  • Client protection amounts
  • Negative balance protection
  • Not listed on the stock exchange market

Offering of Investments

  • Variety of trading products
  • Forex and CFD trading
  • Shares, metals, and energies trading
  • Crypto trading
  • No mutual funds, or options trading

Account Opening

  • Various account types
  • Available in more than 170 countries
  • Fast account opening process
  • Low minimum deposit
  • Swap-free account
  • Demo account option
  • None

Fees and Commissions

  • Low trading fees
  • Low commissions
  • No deposit or withdrawal fees
  • Inactivity fee

Deposit & Withdrawal

  • Various base currency options
  • Various deposit and withdrawal options
  • Free deposits and withdrawals
  • None

Platforms and Languages

  • Available on cTrader, MT4 and MT5
  • Has a customized trading platform
  • Available on web, desktop, and mobile platforms
  • Customizable UI
  • User-friendly
  • Good searching function
  • Two-factor authentication
  • Various order types
  • Alerts option
  • Clear fee and portfolio reports
  • None

Research Tools

  • Various research tools
  • Good charting tool
  • Third-party tools
  • Trading ideas tool
  • Visual Newsfeed
  • No fundamental data available

Customer Service

  • Live chat
  • Phone calls
  • Email support
  • Only 24/5 support

Education

  • Demo account
  • Video tutorials
  • Educational articles
  • None

FAQs

  1. How long does it take to verify my account?
  • It takes about 1 to 2 business days to verify your FxPro account.
  1. Can I open more than one trading account?
  • Yes, FxPro allows you to open up to 5 different trading accounts.
  1. Does FxPro offer a joint account?
  • Yes. And you can apply for it by making sure that each person must first open an individual FxPro account and then fill a Joint Account Request and send it to backoffice@fxpro.com.
  1. Does FxPro offer a VIP account?
  • Yes, VIP Premium Accounts are offered to selected individuals with high deposits (typically $50k or equivalent) and those actively trading large volumes. The VIP clients take benefit from free VPS service and the possibility of decreased spreads/commissions.
  1. Does FxPro allow bot trading?
  • Yes, it does.
  1. Does FxPro give a bonus?
  • Unfortunately, No.
  1. Does FxPro allow scalping and hedging?
  • Yes, it does allow both of them for some account types.
  1. Where is my money held?
  • Client funds are fully segregated from the company’s funds and kept in separate bank accounts in major European banks.
  1. Which Credit/ Debit cards does FxPro accept?
  • Visa, Visa Electron, Visa Delta, American Express, MasterCard, Maestro International, and Maestro UK.
  1. How to enable the swap-free option in my account?
  1. How do I log in using the MT4 mobile platform?
  • Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

  1. When will my demo account expire?
  • After 180 days.
  1. When trading forex, will you lose more than your initial deposit?
  • No, as both the MetaTrader 4 and FxPro platforms are set to automatically close your positions when your margin requirement reaches some point % (stop out level). Also, FxPro has negative balance protection to protect your balance from going negative.
  • Please note that this process is automated and does not guarantee that your account will not enter into a negative equity situation. You should keep a balanced amount in your account above your required margin.
  1. Can I log in to more than one account from the same computer?
  • Yes, you can do such a thing by using the MT4 Multi Terminal.
  1. Can I log in to the same account through different devices?
  • Yes, you can log in to the MetaTrader 4 platform using the same password and username through different devices.
  1. Does FxPro accept payments from third parties?
  • No, payments should be from a bank account that holds the same name as yours.

If you want more information, please check out FxPro Full Review.



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