🔥 FxPro Test 2021: Broker Experience & Rating

Anyone who deals with the current forecasts will probably come to the conclusion relatively quickly that the zero interest rate policy of the European Central Bank, the ECB, will not come to an end in the foreseeable future. This means that well-known financial and savings products, i.e. savings books such as overnight and fixed-term deposits, will remain unattractive in the future. If you want to build up a fortune with your savings, you need alternatives.

The stock and currency markets are particularly interesting. In order to be able to invest money here, it is necessary to open an account with an online broker. If you look for a corresponding provider on the Internet, you will notice that there are some online brokers. But which provider should you use the services?

The online broker FxPro has been on the market for more than a decade. But does this speak for the broker for a long time or is it important to take a look behind the scenes anyway, in order to be able to be certain that the provider is really a reputable provider?

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FxPro Brief Overview - The most important facts about FxPro

• Is regulated by the FCA and CySEC
• Many deposit methods
• Many trading platforms and account models
• Free demo area
• Low minimum deposit

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Registration with the broker FxPro: Our step by step guide

If you want to open an account with FxPro, you won't have to overcome any major obstacles here. The online broker has made sure that the registration process is as easy as possible.

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1. Registration with FxPro 

At the beginning the authority has to be chosen: That means, the trader has to decide for the Financial Conduct Authority (short: FCA - Regulatory Authority of Great Britain) or the Cyprus Exchange and Commission Securities (short: CySEC - Regulatory Authority of Cyprus). Those who choose CySEC can look forward to more payment methods - there are no disadvantages compared to the FCA in terms of regulatory requirements. It should be noted that Great Britain is no longer part of the EU; Even if the regulatory authority still adheres to the requirements set by the EU, it cannot be foreseen at the current time whether there will not even be changes here.

Once you have decided on the regulatory authority, the task is to complete the profile: FxPro wants the following information about the trader:

• First Name
• Last Name
• Email address
• residence
• citizenship
• Date of Birth
• Phone number
• Password

Once you have transmitted your personal data, FxPro will then ask what the financial situation is like and whether experience has already been gained in the course of CFD trading. However, the details do not really play a role in the further account opening - the trading account will be released.

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2. Verification

An EU citizen is obliged to provide a complete and valid copy of a photo ID. This can be the driver's license, passport or identity card. The place of residence can also be confirmed with a consumer invoice. It is important to ensure that the name and address on the invoice are clearly legible and that the invoice must not be older than six months.

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3. deposit

FxPro offers traders the following deposit methods:

• Online bank transfer
• Offline bank transfer
• Credit card (VISA and MasterCard)
• Skrill
• Neteller
• instant transfer Sofort
• Giropay
• iDeal
• EPS

The minimum deposit is 100 euros. There are no deposit fees. The account can be kept in either euros or US dollars.

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4. Trading on the platform 

If the minimum deposit has been made, whereby it should be noted that depending on the selected deposit method, it can take one to four working days until the money is available, trading can then begin.

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What is FxPro Broker? The history of the broker

FxPro is an online broker that was founded more than ten years ago. In 2006 the broker was founded, which initially had its headquarters in Cyprus - that is also the reason why the broker is regulated by CySEC. A branch in Great Britain followed in 2010 - then the online broker was regulated by the FCA. Subsequently, the head office moved from Cyprus to London.

FxPro has already entered into partnerships with a few English football clubs - the online broker was or is the sponsor of FC Fulham and FC Watford.

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Our FxPro experiences: The FxPro conditions in the test

As a trader, you naturally want to know which trading instruments are made available. Because in the end every trader has his personal favorites, with which money should be made in the future.

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Trading at FxPro: The offer of the individual trading instruments in the test

Of course, stocks such as currency pairs, commodities, metals and energies are available.

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Trading stocks & ETFs

FxPro serves more than 150 global companies. There are stock corporations from the USA, France, Great Britain and also from Germany. The best-known stock corporations certainly include Easyjet and Barclays (Great Britain), Carrefour (France), Allianz, BMW and Daimler (all Germany) or Adobe and Alibaba (USA).

You can also speculate with indices. The indices Euro50, Germany30 and UK100 are available.

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Trading Forex

Forex traders will be thrilled here, as FxPro not only offers trading with majors, but also provides secondary currencies such as exotic ones. There are among others the currency pairs EUR / CHF, EUR / USD as well as USD / CAD or CAD / CHF.

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Trading in raw materials

In addition to gold, silver and platinum, there is also gas. Ideal for all those who like to speculate with precious metals and energies.

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The functions of the FxPro trading platform

Here FxPro scores with five trading platforms. There are probably very few online brokers who offer such a large selection.

FxPro not only offers excellent trading platforms such as Meta Trader 4 or Meta Trader 5, but also scores with proprietary solutions and different trading conditions, so that the individuality of the individual trader can be taken into account.

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FxPro MT4 Instant

• CFD instruments: indices, forex, metals, stocks, futures, energies
• Platforms: Meta Trader 4 Desktop, Meta Trader 4 App, Meta Trader Webtrader
• Trade sizes: Metals, Forex and Futures: 0,01 (Micro Lofts); Stocks: 10, energies and indices: 1
• Trading costs: Spread only
• Execution type: Immediately - the price that can be seen on the screen is used
• Standard netting / hedging: Hedging
• Stop Out: 50% (FxPro CY, FxPro UK)

FxPro MT4

• CFD instruments: indices, forex, metals, stocks, futures, energies
• Platforms: Meta Trader 4 Desktop, Meta Trader 4 App, Meta Trader Webtrader
• Trade sizes: Metals, Forex and Futures: 0,01 (Micro Lofts); Stocks: 10, energies and indices: 1
• Trading costs: Spread only
• Execution type: Graduated liquidity - the orders are always executed based on the volume-weighted average price
• Standard netting / hedging: Hedging
• Stop Out: 50% (FxPro CY, FxPro UK)
  

FxPro MT5

• CFD instruments: indices, forex, metals, futures, energies
• Platforms: Meta Trader 5 Desktop, Meta Trader 5 App, Meta Trader Webtrader
• Trade sizes: Metals, Forex and Futures: 0,01 (Micro Lofts); Energies and indices: 1
• Trading costs: Spread only
• Execution type: Graduated liquidity - the orders are always executed based on the volume-weighted average price
• By default netting / hedging: netting
• Stop Out: 50% (FxPro CY, FxPro UK)
  

FxPro cTrader

• CFD instruments: indices, forex, metals, energies
• Platforms: cTrader Desktop, cTrader App, cTrader Webtrader
• Trade sizes: Metals and Forex: 0,01 (Micro Lofts); Energies and indices: 1
• Trading costs: Reduced spread on Forex and Metals + 45 US dollars per 1 million US dollars; for indices such as energies: only spread
• Execution type: Graduated liquidity - the orders are always executed based on the volume-weighted average price
• Standard netting / hedging: Hedging
• Stop Out: 50% (FxPro CY, FxPro UK)

FxPro Edge

• CFD instruments: indices, forex, metals, energies, stocks, futures
• Platforms: FxPro App, FxPro EDGE Web, MT 4 platform areas
• Trade sizes: Metals, Futures and Forex: 0,01 (Micro Lofts); Energies and indices: 1, stocks: 10
• Trading costs: Reduced spread on Forex and Metals + 45 US dollars per 1 million US dollars; for indices such as energies: only spread
• Execution type: Graduated liquidity - the orders are always executed based on the volume-weighted average price
• Standard netting / hedging: Hedging
• Stop Out: 50% (FxPro CY, FxPro UK)
  

The properties at a glance:

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FxPro account types

FxPro also scores with three different account types. The following overview is intended to provide an overview of the differences:

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If you want to try out the various services safely at the beginning, you can opt for the demo account. The FxPro demo area is available indefinitely. That is, ideal for all beginners who first want to deal with the various options offered by the broker and, if necessary, want to try one or the other strategy.

But professional traders can also use the demo area to test new strategies for their success and, if necessary, work on existing strategies in order to be able to make even more profits.

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The FxPro App

FxPro offers an app for iOS and Android. This means that if you want to access your account regardless of location and, if necessary, open positions, you can do so here. It should be noted that there are no disadvantages compared to the desktop version - trading and access to the platform are easily possible from any mobile device.

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The deposit methods at FxPro

If you want to top up your account, there are various deposit methods available. On the one hand, FxPro relies on online bank transfer, but also offers what is known as offline bank transfer (i.e. not via online banking, but as part of the payment in a bank branch). The account can also be topped up with a credit card (MasterCard and VISA are accepted). FxPro also accepts e-wallets - you can also top up your account with the instant transfer.

Depending on the selected deposit method, the money is available immediately or after one to three working days. FxPro waives a deposit fee.

The following payment methods are accepted by the online broker:

• Online bank transfer
• Offline bank transfer
• Credit card (VISA and MasterCard)
• Skrill
• Neteller
• instant transfer Sofort
• Giropay
• iDeal
• EPS

The payment is made by bank transfer.

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Security at FxPro

Of course, there are not only reputable providers - there may very well be one or the other black sheep who are primarily only interested in the trader's money and not in his success. Can FxPro convince here too or are there any indications that the provider is dubious?

Regulation of FxPro

The broker is regulated by two European financial supervisory authorities - on the one hand, the Cyprus-based Cryprus Exchange and Commission Securities (CySEC) and the British Financial Conduct Authority (FCA). CySEC regulates FxPro Financial Services Limited and FCA regulates FxPro UK Limited.

Due to the fact that various criteria have to be met here, you can be sure that no fraudulent intentions are being pursued. FxPro is a serious provider - as evidenced by two licenses from two supervisory authorities, which ultimately have a reputation for being particularly strict.

Deposit insurance from FxPro

Client funds must be kept separate from the company's assets. The idea behind this is that in the event of bankruptcy, the money remains the property of the trader. There is also a deposit protection of 20.000 euros / trader.

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FxPro's customer service

The employees of the online broker are available Monday to Friday - around the clock. Customer service is offered in more than 20 languages ​​- that is, you are sure to find competent employees here who are also available in the preferred language. In addition to telephone support, there is also the option of contacting us by email. FxPro makes sure to answer the email inquiries within one day. There is also a callback service.

Another point that clearly speaks in favor of customer service is the live chat. No matter what question you have or what problem has arisen - here you get an answer or a solution to the problem within a few moments.

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FxPro conditions: Fees & costs

Of course, the fee model also plays an important role. Because if you are interested in an online broker, you want to know how high the fees are - because ultimately they gnaw at the profit.

spreads

This is the difference between the sales and purchase price. In many cases, spreads are the broker's only source of income. FxPro is in the middle of the field - that is, spreads customary in the industry are followed.

fees

The same applies if you deal with the other fees. FxPro waives a custody account fee; there are also no deposit or withdrawal fees.

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Experiences and user opinions about FxPro on the Internet

Of course, the experience reports that can be found on the Internet should not be disregarded - especially not if the reports are predominantly negative. But FxPro can also convince here. Of course there may be one or the other criticism, but the positive reports outweigh this online broker. And that is another sign that it is a reputable and recommendable broker.

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Is FxPro Scam or Reputable? Our FxPro rating

In order to find out whether you are dealing with a reputable online broker or one that needs to be questioned, it is important to make sure that the provider is regulated. This is the case with FxPro - the broker is regulated on the one hand by the CySEC and on the other hand by the FCA. There is therefore no evidence that this is fraud.

Furthermore, FxPro has been available on the market for more than ten years. That also speaks for the online broker.

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Cons of FxPro: What didn't we like?

The fee model may be fair, but there is no overview - there is still room for improvement here.

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Advantages of FxPro: What we liked

FxPro scores with two licenses (CySEC and FCA) and the fact that there are different trading accounts. There is certainly the right model for every trader. Furthermore, FxPro convinces with a variety of deposit methods and a free demo account.

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FxPro Review: Frequently Asked Questions about the Broker

What is FxPro?

FxPro is an online broker that can be recommended not only to beginners but also to professional traders.

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Is FxPro a Recommended Broker?

Yes. Especially because FxPro is regulated by the CySEC and the FCA.

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Will I be able to trade successfully with FxPro?

There is no evidence that the online broker is putting obstacles in the way.

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How is the test and the experience of Bitcoin-news.one about FxPro?

Positive. FxPro is definitely an online broker that can be recommended, which scores on many levels. The advantages outweigh this!