FxPro UK Review
Latest Trading conditions UK Traders
!! Regulator Warning !!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
I like that FxPro offers Promo Accounts with almost zero minimum deposit, I tried their services using the promo account and now I think I am ready to open a main account
fxPro now allows access to unlimited leverage which is quite an upgrade so I'm loving this. I also enjoy using the FxPro Wallet to keep monies I am not using for trading.
If you want to trade crypto FxPro is the best. Their spreads are tight and there's a lot of digital currencies on offer. I also enjoy their mobile app with the newly upgraded 24/7 support from within the app
I love FxPro because of their newly introduced naira account, the fact that they are very organized, and the fact that I can speculate on the Naira with USD/NGN currency pair. Keep it up fxPro
FxPro has some of the best education and the best trading software out there. They are also quite honest with their spreads.
FxPro closed my account for no reason and they never bothered to inform me. While trading with them their spreads were always too high on the standard account.
FxPro is a good forex broker but they should improve on their customer support and lower their spread. For me I like that they have a lot of tradable instruments and support cTrader
I'm about to start my FxPro trading journey & so far, I'm loving their trading platforms especially the Web Trader- it looks so cool!! I opened a Naira trading account so it displays everything in Naira which is nice. I am also loving the support I'm getting from their customer service, although they are stationed abroad they are so nice and patient and they call me whenever I request a call back. Thanks for the review it really opened my eyes to FxPro and made me want to trade with them.!!
FxPro is the perfect gentleman broker. Their platforms are almost ''alien like'' in terms of technology, especially their FxPro Edge Web Trader & their MT5. Their execution speed is great and although their spreads are wide (1.4 pips EUR/USD) they don't play tricks of increasing the spread during a trade.' Their leverage is also pegged to 1:500 which is good because it makes you a responsible trader. They dont throw high leverage at you and then widen their spreads so you blow your account
FxPro is a native UK forex broker regulated by the FCA & offering advanced trading platforms with a wide range of markets
| 👨 Broker | FxPro UK LTD |
| 📅 Year Founded | 2006 |
| ⚖ Regulators | FCA UK |
| ⚖ Firm Ref. No. | 509956 |
| ⚖ Investor Protection | FSCS |
| ⚖ Dispute Resolution | Financial Ombudsman Service (FOS) |
| 📈 CFDs | Yes |
| 📈 Spread Bet | Yes |
| 🚀Max. Leverage | 1:30 |
| 🔎Auditors | PricewaterhouseCoopers |
| 💻 Platforms | MT4, MT5, TradingView, cTrader, FxPro Edge |
| 📋Account Types | Standard, Raw, Elite, cTrader |
| 💰 Minimum Deposit | $100 |
| 💰 Minimum Withdrawal | $1 |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | $20 after 6 months of inactivity |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
Regulation - 5/5
FxPro is regulated by the Financial Conduct Authority (FCA) in the United Kingdom & they have Firm reference Number (FRN) 509956, making them legal in the UK.
FxPro UK LTD is a member of the Financial Services Compensation Scheme (FSCS).
The FSCS offers up to 85,000 Pounds in investor protection to FxPro traders in the event that FxPro goes out of business.
Range of Markets - 4.3/5
1. Forex CFDs
FxPro traders in the UK can trade CFDs on all major forex pairs such as EUR/USD. USD/JPY, etc. Minor & Exotics are also available.
EUR/ZAR, GBP/ZAR & USD/ZAR forex pairs are also available at FxPro Nigeria, thus enabling you to speculate on the South African Rand.
2. Spot Indices CFDs
FxPro traders in UK can trade CFDs on Nasdaq & other popular indices. In total FxPro offers about 18 popular indices including UK 100.
3. Spot Metal CFDs
You can trade CFDs on Gold & other precious metals at FxPro UK. These metals are paired against the USD & Euro.
3. Share CFDs
At FxPro UK you can trade CFDs on shares of all major companies in the world.
4. Spot Energy CFDs
Brent Uk Oil, WTI Oil & NAT GAS are the only Energy CFDs you can trade at FxPro UK.
5. Futures CFDs
At FxPro UK, you can trade CFDs on Futures contracts with Agricultural commodities, Energies & Equity indices as some of the underlying assets.
6. Crypto CFDs
Only professional traders are allowed to trade crypto CFDs at FxPro UK. Retail traders cannot trade crypto CFDs.
AAVE, BAT, Binance Coin, Bit Coin, Cardano, Chain Link, Dash, Doge, EOS, Ethereum, File Coin, IOTA, Lite Coin, Monero, NEO, Polka Dot, Solana, Stellar, are all available as CFDS.
| 🛒CFD | #️⃣Number | 🚀Leverage | 🌙Swap Free Trading | 📅Trading Hours |
| Forex | 70+ | 1:2000 | No | Sunday 23:00 to Friday 23:00 GMT+1 |
| Indices | 18 | 1:500 | No | Between Monday 00:00 and Friday 22:59 GMT+1 |
| Metals | 12 | 1:500 | No | Between Monday 00:00 and Friday 22:59 GMT+1 |
| Energy | 3 | 1:500 | No | Between Monday 00:00 and Friday 22:59 GMT+1 |
| Shares | 1,900 | 1:10 | No | Between Monday 09:01 and Friday 17:30 GMT+1 |
| Futures | 30+ | 1:10 | No | Between Monday 10:45 and Friday 19:29 GMT+1 |
| Crypto | 15+ | 1:100 | No | Sunday 23:00 to Saturday 23:00 GMT+1 |
Does FxPro offer Spread Betting in the UK?
Yes, FxPro offers tax-free spread bets to UK traders via its FxPro Edge platform.
FxPro traders in the UK can spread bet on Forex, Commodities, & Equity.
Account Types - 3/5
1. Demo Account
The Demo account helps you practice your trading strategies and skills, using the platform’s features and virtual funds to have a real market experience.
2. Standard Account
The FxPro Standard Account's spread-only fee structure is simple & easy to work with for beginners.
3. Raw+ Account
The Raw+ Account pricing structure is more advanced with spreads kept low but you pay a flat commission per trade.
4. Elite Account
This account is a great option if you're planning to deposit $30k or more. It gives you all the benefits of the Raw+ Account, but with an extra bonus, you can earn rebates of up to $1.5 per lot.
5. cTrader Account
To trade on the FxPro cTrader Platform (mobile and web), you must open a cTrader Account with a $100 starting deposit.
The FxPro cTrader account can also be connected to the TradingView platform.
6. PAMM Accounts
PAMM Accounts at FxPro are for you to pool resources from other traders then trade on their behalf and share profits with them according to an agreed percentage allocation formula.
However, note that depending on your jurisdiction you may need government approval to make investment decisions for others.
Account Management - 5/5
Base Currencies
FxPro offers GBP as an account currency to UK traders. There's also USD, & EUR account currency available
Number of FxPro Accounts You Can Open
FxPro allows you to open a maximum of 5 trading accounts on one user profile.
FxPro Wallet
Your FxPro Wallet is an online savings account where all your deposits are held. When you want to trade, you must perform an internal transfer from your FxPro Wallet to your Trading Account.
Any money held in your FxPro Wallet is not allocated for trading and so cannot be affected my margin calls or any trading related activity.
FxPro Dynamic Leverage
FxPro Leverage is 1:30 on the Raw Spread Account & on the Standard Account.
FxPro leverage is dynamic, meaning that the bigger your trade size is, the lower the leverage you will be able to access.
The leverage on the Standard Account cannot be changed but the leverage on the Raw Account can be reduced, by going to your personal area, clicking on account & editing the leverage.
Negative Balance Protection
FxPro UK offers Negative Balance Protection so that you don't lose more than you deposited.
Even if your FxPro account balance goes into negative due to stop loss not being triggered etc., FxPro will refund the negative balance and make your account balance zero again.
Margin Call & Stop Out
FxPro Margin Call will come when your Margin Level falls to 100% and you will be Stopped Out of all your trades when your Margin Level falls to 0%.
How Do I Open a FxPro Account?
First step is to register & create a profile.
After registration, FxPro creates an online wallet for you where your deposits wil be stored.
Second step is to login to the FxPro website(Personal Area) or mobile app to create an actual trading account which will be linked to your online wallet.
Third step is to document your newly created trading account by uploading your UK government ID.
After this your account is activated & you can make your first deposit.
What is the FxPro Minimum Deposit?
The FxPro minimum deposit is $100 on the Standard Account, $500 on the Raw+ Account and $30k on the Elite Account.
FxPro Deposit Methods
a) Local Bank TransferThis is the easiest way to deposit into your FxPro wallet. Bank transfers at FxPro are instant & free of charge.
b) Broker to Broker TransferFxPro supports broker to broker transfers. So, if you close your account with one broker, you can simply ask the broker to transfer your funds to FxPro & vice versa.
c) Cards (Visa, MasterCard, & Maestro)FxPro accepts card deposits at no cost and the processing time is instant.
d) Skrill & NetellerFxPro accepts deposits from Skrill & Neteller at no cost. Processing time can take up to 10 minutes.
e) Mobile MoneyFxPro accepts deposits via mobile money providers such as MPESA, Airtel Money, etc. at no cost. The processing time is instant.
How much is FxPro Minimum Withdrawal?
The FxPro minimum withdrawal is $1.
FxPro Fees - 3/5
1. Spread
The Standard Account has variable spread starting from 1.2 pips. The Raw+ Account has a variable spread starting from 0 pips and the Elite Account has a spread starting from 0 pips.
What average spread should you expect?
MetaTrader Standard Account users can expect EUR/USD, GBP/USD, & USD.JPY spreads to average at 1.5 pips.
cTrader Account users should expect an average EUR/USD spread of 0.44 pips. Also expect GBP/USD at 0.58 pips on average, and USD/JPY at 0.36 pips average.FxPro also gives you the option of choosing fixed spreads which don’t change, but the fixed spreads are higher.
For example, EUR/USD fixed spread is 1.72 pips for MetaTrader Standard Accounts which is higher than the variable spread option of 1.5 pips.
2. Commission
FxPro commission is $3.5 per side per 100,000 units of any Forex & Gold pairs traded using the MetaTrader Raw+ or Elite Accounts.
For cTrader Account users, commission is compulsory at $3.5 per side per 100,000 units traded.
Some FxPro instruments such as Bitcoin are traded commission-free irrespective of the account type you’re using.
3. Swaps
All FxPro instruments attract overnight swap fees when you leave trades open till the next day.
However, swap-free trading can be activated upon request if you are of Islamic faith.
4. Inactivity feeInactive accounts (6 months and above) at FxPro are charged a $10 penalty for inactivity.
FxPro Platforms -4/5
1. MT4/MT5
MT4 and MT5 give you access to trading central tools, technical indicators, analytical charting tools, and customized chart layouts.
You can have access to MT4 multiterminal to manage multiple accounts.
You can download the MT4/MT5 on the FxPro website, available on iOS, android, windows, Mac OS, and web platforms.
2. FxPro Proprietary Platforms
FxPro has its own home-developed platforms unique to it, & that can be used by only FxPro members.
These proprietary platforms are the FxPro mobile app & the FxPro Edge Web Trader.
The mobile app works with android & apple devices, while the FxPro Web Trader can be launched through FxPro’s website from any popular browser.
3. cTrader
The cTrader offers another level of depth of market analysis.
The cTrader gives you access to detachable charts, order protection, customized charts and interface, etc.
4. TradingView
FxPro has TradingView as one of its platforms but to use it you must open a cTrader account.
FxPro Trading Tools - 2.6/5
1. Calculator
FxPro provides a trading calculator which helps you calculate the commission, margin, pip value & swaps on a transaction.
2. Virtual Private Server (VPS)
FxPro also provides a VPS server so you can run your trading robot on it, and get uninterrupted data connection & faster execution speed.
The cost of the FxPro VPS is $30 per month but Premium Account holders can use it for free.
3. Economic Calendar
FxPro has provided an economic calendar so you can track the exact dates when important economic data such as Non Farm Payroll, PCE, CPI etc. will be released.
Customer Support -5/5
1. Telephone Support
FxPro clients in Nigeria dont have to spend their airtime calling FxPro, they simply have to logon to their personal area and Request A Call-Back. This feature will prompt FxPro customer support teams in the UK to call you at the time you specified.
2. Live Chat Support
From your personal area, you can initiate a real-time chat with FxPro agents & they respond to you almost immediately. Live chat is open 24/7 but during weekends a bot does the responding.
3. Email Support
FxPro clients in Nigeria can also reach out to them via email & get a response within 24 hours.
4. Educational Support
FxPro offers educational resources such as webinars, articles, traders glossary, and YouTube.
These educational resources cover FxPro CME Group Education course, basics of trading, fundamental analysis, and trader psychology.
There's also the FxPro unlimited Demo Account (which does not expire) for experimenting with the markets using virtual funds.
| 🎧 Live Chat Support | Yes |
| 📧 Email Support | Yes |
| 📞 Telephone Support | Yes |
| 📖 Help Center | Yes |
| 👨 Personal Account Manager | Yes |
| 👩🏫 Academy | Yes |
Final Verdict - 8/10
FxPro UK is the best forex broker for beginners because they offer GBP Accounts, Demo Account & Sufficient Education.
FxPro has a final score of 8/10 because their trading tools are not as advanced as what competition offers, they don't offer Spread Bets & the spread on their Standard Account is higher than industry averages.