Is FxPro Scam? | FxPro Safety and Reliability

Pros

Cons

  • 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

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.

Is FxPro Regulated?

The FxPro broker is regulated by many financial authorities like:

  • FCA: the Financial Conduct Authority in the UK
  • CySEC: the Cyprus Securities and Exchange Commissions
  • FSCA: the Financial Sector Conduct Authority
  • SCB: the Securities Commission of the Bahamas

Is FxPro a Scam?

FxPro has a long tracking record since 2006 and over 1.8 million clients from different countries around the world. It’s also regulated by top-tier regulators and passed through different financial disasters up till now. On the other hand, FxPro is not listed on the stock exchange market.

FxPro was also awarded with several awards along its history that make FxPro reliable.

Client Protection

FxPro has different client protection amounts under its regulators to protect its client funds and assets if anything wrong happens.

FxPro Legal Entities Table

Country

Protection amount

Regulator

Broker’s Legal Entity

Uk

£85,000

FCA

FxPro UK Limited

EEA

€20,000

CySEC

FxPro Financial Services Ltd

South Africa

No Protection

FSCA

FxPro Financial Services Ltd

Other Countries

No Protection

SCB

FxPro Global Markets Ltd

Negative Balance Protection

Luckily, FxPro has negative balance protection on Forex and CFDs to prevent your trading account from going negative.

Two-step Verification

Fortunately, FxPro has the two-step verification method while logging in.

FxPro Awards

Since its foundation in 2006, FxPro was awards like:

  • 2021:
  • BEST BROKER (UK) in the Ultimate Fintech Awards
  • BEST FX PROVIDER in the Online Personal Wealth Awards
  • Best FX Provider in the Online Personal Wealth Awards
  • Best CFD FX Provider in the Online Personal Wealth Awards
  • Best Broker in UK in the Ultimate Fintech Awards
  • Most Transparent Broker (Global) in the Ultimate Fintech Awards
  • Most Trusted Broker in the Ultimate Fintech Awards
  • Best Brand Broker by Huiyou.Com
  • 2020:
  • BEST TRADING PLATFORM by Investors Chronicle & Financial Times
  • Best Broker In Investor Education in FX168 2020 BROKERS BILLBOARD (ASIA)
  • Best Brand Broker by Huiyou.Com
  • Most Innovative FX Broker by the International Business Magazine
  • Best Mobile Trading App UK by the International Business Magazine
  • Best Mobile Application in the Online Personal Wealth Awards
  • 2019:
  • Best Forex Provider in the Investors Chronicle & Financial Times Investment And Wealth Management Awards
  • Best European Value Broker in the Global Forex Awards
  • Most reliable broker of the year by “International Investor” Magazine
  • Best Global Forex Introducing Broker Programme in the Global Forex Awards
  • Best Mobile Application in the Online Personal Wealth Awards
  • 2018:
  • Best FX Service Provider in the City Of London Wealth Management Awards
  • Best Spread Betting Provider, UK by Global Brands Magazine
  • Best Execution Provider, Global by Global Brands Magazine
  • Best Forex Trading Experience in the UK Forex Awards
  • Best FX Broker in the Shares Awards
  • Best Forex Technical Excellence in the UK Forex Awards
  • 2017:
  • Best FX Broker in the Shares Awards
  • Most Trusted Forex Brand, UK by the Global Brands Magazine
  • Best Execution Broker, Global of the Year by the Global Brands Magazine
  • Best MT5 Broker in the UK Forex Awards
  • Best FX Execution, Global in the CFI.Co Awards
  • 2016:
  • Best FX Provider in the Online Personal Wealth Awards
  • Best FX Service Provider in the City Of London Wealth Management Awards
  • Best FX Broker in the Shares Awards
  • Best MT5 Broker in the UK Forex Awards
  • Best Execution Broker in the Online Personal Wealth Awards
  • Best Forex Broker in the Online Personal Wealth Awards
  • Best FX Execution, Global in the CFI.Co Awards
  • 2015:
  • Forex Provider of the Year in the UK Forex Awards
  • Best FX Broker in the Shares Awards
  • Best MT5 Broker in the UK Forex Awards
  • Best Forex Broker in the Online Personal Wealth Awards
  • 2014:
  • Best FX Provider in the Online Personal Wealth Awards
  • Best FX Service Provider in the City Of London Wealth Management Awards
  • Best Forex Provider in the Investors Chronicle & Financial Times Investment And Wealth Management Awards
  • Best FX Broker in the Shares Awards
  • Most Trusted Forex Brand, UK by the Global Brands Magazine
  • Best Execution Broker in the Online Personal Wealth Awards
  • Best Forex Broker in the Online Personal Wealth Awards
  • Best FX Execution, Global in the CFI.Co Awards
  • Best Forex Customer Service Brand, Europe of the Year by the Global Brands Magazine
  • Best Forex Product of the Year – FxPro SuperTrader in the UK Forex Awards
  • 2013:
  • Best FX Broker in the Shares Awards
  • Most Trusted Forex Brand, UK by the Global Brands Magazine
  • Most Innovative Broker of the Year in MENA Forex Show Awards
  • Best Broker Europe of the Year in the International Finance Magazine Award
  • Best Forex Execution Broker of the Year by QFX
  • Best Product of the Year – FxPro Quant in the UK Forex Awards
  • Excellence in FX Services of the Year in the IAIR Award
  • Best Use of Social Media of the Year in the Shares Awards
  • Best Forex Trading Tools of the Year by QFX
  • 2012:
  • Best Broker of the Year in the World Finance Foreign Exchange Awards
  • 2011:
  • Best Institutional Broker in the Forex Expo Awards
  • 2010:
  • Forex Provider of the Year in the Financial Times/Investors Chronicle Investment Awards
  • Best Institutional Broker in the Forex Expo Awards
  • Fastest Growing Global Forex of the Year by the World Finance Magazine
  • 2009:
  • Best Forex Broker of the Year by the World Finance Magazine
  • 2008:
  • Best Forex Broker of the Year by the CEO Magazine

FAQs

  1. Does FxPro allow bot trading?
  • Yes, it does.
  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. 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.


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