FXLORDS Increase Your Profits
Who are they?
FXPro say they are the brokers of choice for serious Forex traders and everything about their website supports their claim. Originally a standard market-making Forex broker, they changed direction slightly in 2012 in order to place more emphasis on the needs of the client. The result is the FXPro of today which uses what they call a ‘Client-centric Agency Model’. Put into layman terms, this means they moved away from market-making to a agency role, placing orders with liquidity providers.
They allow you to trade a comprehensive set of currency pairs – over 70, as well as selected stocks, indices and precious metals from their headquarters in London and their associate office in Cyprus. They are regulated by CySEC in Cyprus but also by the FCA in London, which are stringent enough for the average trader.
They allow you to trade a comprehensive set of currency pairs – over 70, as well as selected stocks, indices and precious metals from their headquarters in London and their associate office in Cyprus. They are regulated by CySEC in Cyprus but also by the FCA in London, which are stringent enough for the average trader.
Review Overview
Compliance to Different Authoroties
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Customer Support and Offers
Acceptable
One of the oldest most respected broker in the FX industry
How do they help me learn?
FXPro sets itself out to be a professional Forex broker and their ‘Academy’ follows that line with comprehensive, if a little dull, broker education.
Training Videos – Training videos available on the website educate by looking at weekly briefings and inform the trader of what’s happened and why and what’s likely to happen. There are no videos that are specific to training on Forex or the platforms – that’s undertaken by the written word.
Training Videos – Training videos available on the website educate by looking at weekly briefings and inform the trader of what’s happened and why and what’s likely to happen. There are no videos that are specific to training on Forex or the platforms – that’s undertaken by the written word.
- Demo Account – As with all brokers, FXPro offers a demo account and an account manager who’s on hand to answer questions or to give you advice.
- Forex Articles – There are a limited number of articles on trading Forex, on the technical and fundamental indicators and the workings of the Forex market. Whilst they are comprehensive in content, they’re a little light on educating.
- How To… This is the main thread of their education facility and mainly covers the use of their series of trading platforms as well as how to use Expert Advisers. The articles are very detailed but a little heavy to wade through despite having illustrations.
- Glossary – FXPro offer a comprehensive glossary of terms which means the trader can refer quickly to the definitions of terms they are unfamiliar with.
- Trading Academy – This is a short series of articles that FXPro hopes will get the novice trader up to speed on how Forex trading works, again a bit heavy, but it covers all the basics a new trader needs.
- Account Managers – You can have access to your own account manager and they will help you with any difficulties that arise. They cannot give trading advice specific to dealing but are very helpful and professional.
- AutoChartist – Invaluable to all traders, FXPro offer the industry leading intra-day charting tool free of charge to all funded account holders.
How is the clients support service in general?
FXPro have a full range of ways for a client to get in touch. You can choose from a wide range of languages – twenty at present, to communicate in and can do so via Live Chat, phone, email and call back. Response times are good with emails replied to within 1 – 2 hours, live chat up and running in less than a minute whilst phone call queries are answered satisfactorily.
What does the industry say?
FXPro have won a host of awards since their metamorphosis in 2012 including some from the big names in the industry. Investor’s Chronicle awarded them ‘Best Forex Trading Platform’ last year whilst the City of London Wealth Management awarded them Best FX Service Provider.
Feedback from traders is positive but the company’s reputation could be damaged because there are many reviews for similarly named companies which are separate entities.
Feedback from traders is positive but the company’s reputation could be damaged because there are many reviews for similarly named companies which are separate entities.
How safe is my money?
FXPro is registered with and regulated by CySEC as well as the FCA in London. Membership of these regulatory bodies ensures that they are also regulated for trade in Europe. The brokers use separate accounts for clients’ funds and company funds meaning that your funds are not going to be used to finance the company’s activities.
What platforms does FXPro offers?
FXPro offers a wide range of platforms based on MT4 and also their own platform called cTrader. MT4 is renowned for ease of use and reliability whilst cTrader, unique to FXPro, has won awards for similar attributes. Both are available in web browser or download.
As with most brokers, FXPro offers mobile options for both platforms which work on most operating systems.
As with most brokers, FXPro offers mobile options for both platforms which work on most operating systems.
What about their trading conditions?
Leverage varies depending on the type of account and can vary from 1:1 to 1:500. The MT4 platform offers dynamic leverage based on the volume traded.
When margins drop below 10% for MT4 accounts and 40% for cTrader, FXPro reserve the right to close positions starting with the least profitable. This is a departure from the norm in favour of the client.
Islamic Sharia compliant accounts are offered by FXPro and swaps are covered by a pip mark up or a commission fee, avoiding the charging of overnight interest.
The availability of AutoChartist for all live, funded accounts is a big bonus. The system has won a host of awards for how it helps the trader to track intra-day movements, flagging up opportunities to trade.
Spreads are variable on FXPro’s platforms. The company cannot guarantee that slippage won’t occur but their system of agents rather than market makers makes re-quotes less likely. Expert Advisers are compatible with both their trading platforms.
When margins drop below 10% for MT4 accounts and 40% for cTrader, FXPro reserve the right to close positions starting with the least profitable. This is a departure from the norm in favour of the client.
Islamic Sharia compliant accounts are offered by FXPro and swaps are covered by a pip mark up or a commission fee, avoiding the charging of overnight interest.
The availability of AutoChartist for all live, funded accounts is a big bonus. The system has won a host of awards for how it helps the trader to track intra-day movements, flagging up opportunities to trade.
Spreads are variable on FXPro’s platforms. The company cannot guarantee that slippage won’t occur but their system of agents rather than market makers makes re-quotes less likely. Expert Advisers are compatible with both their trading platforms.
How much will it cost me?
Minimum spreads start at 1.2 for EUR/USD whilst on cTrader spreads can be as low as zero.
Funds can be accepted from a variety of sources including bank wires, credit cards and wired cash and are usually credited the same business day. Withdrawals are sent to similar destinations but whilst usually processed that business day they can take longer to reach you. There is no fee applicable on deposits nor withdrawals of funds. The fund transfers in and out are managed through a desktop called the FXPro Vault.
Funds can be accepted from a variety of sources including bank wires, credit cards and wired cash and are usually credited the same business day. Withdrawals are sent to similar destinations but whilst usually processed that business day they can take longer to reach you. There is no fee applicable on deposits nor withdrawals of funds. The fund transfers in and out are managed through a desktop called the FXPro Vault.
Any special deals?
FXPro don’t offer any special deals or competitions as they feel their product is sufficiently good not to need to undertake marketing giveaways.
The bottom line
Whilst not the best for novice brokers, FXPro’s package seems excellent for the more confident trader. The platforms offered are award winning and the combination of ECN trading with the size and reputation of the company means that good traders can maximize their profits.
If you’re after a very professional, well-regulated broker who does their best to work for the trader instead of simply themselves then we believe FXPro are worth a shot.
If you’re after a very professional, well-regulated broker who does their best to work for the trader instead of simply themselves then we believe FXPro are worth a shot.
Do you like this broker?
Send us a request by filing the form below and we will pay you the rebate you generate on your live account in full!
