FxPro South Africa Review
Everything you didn't know about FxPro in South Africa
Great mobile app you got there FxPro!!! They offer really nice services and they keep evolving to stay ahead of the curve
Their FxPro Edge Web Platform is excellent; it lets me analyze charts on the 10-Minute time frame and I wasn't able to do this on TradingView without being asked to pay for it.
They have everything going for them, but they ruined it with their high spread. They should introduce more account types with lower spread or they should introduce a cent account. During the Asian session they increase their spread up to 100% which is bad.
Their spreads are horrible, very high spreads which are not even stable
FxPro is a financially strong and reliable broker that provides various trade execution options, giving traders assurance about the security of their funds.
No, thanks ! the spread is too high. FxPro is charging spread from 1.4 pips but my new broker TD365 charges 0.3 pip spread
FxPro is not good for scalpers cos spreads are high but if you are a swing trader then its an excellent broker with unlimited leverage
Unreliable when it comes to withdrawal speed. Overall they are a good broker with honest trading conditions and low entry/starting deposit for those with little capital
Everything about Fxpro is good but the spreads are high, the solution? if you do not have a trading strategy that yields consistent profit, dont trade with FxPro but if you have an edge that works profitably then fxpro is the best since the spreads wont matter
I opened an account with fxpro after reading the reviews i saw here, and i have not been disappointed. First thing i noticed was the trading platforms which are so user friendly then the customer support is also good especially on whatsapp. They contact you before you contact them once they notice you had an issue
I like fxpro for one thing- they are so organized. Their client area is so easy to navigate and everything is displayed and arranged properly. The best feature for me is the fxpro wallet which helps me manage my cash and save money which i am not using for trading so i dont get confused. I dont care if the spreads are a bit higher the user experience is more important to me.
excellent mobile app with an economic calendar powered by artificial intelligence. FxPro is not your average broker, they take it to the next level!!!
I like the withdrawal process at fxpro, all pending withdrawals are displayed on your screen and they do not disappear until the money is in your bank account. That way, you can keep track of your pending withdrawals without hassle
FxPro is a great forex broker if you are in Nigeria, their N5,000 minimum deposit and N100 minimum withdrawal is rare in the forex industry.
Smoothest broker I have ever used!!! Everything is so organized, personal area is detailed and easy to make deposit and withdrawals mobile app is stable, charts dont freeze, beginner education is comprehensive, I can go on and on. I love FxPro
The spreads are too high!!! My gosh some times you see as high as 2 pips on the EUR/USD its too much. They need to cut these ridiculous spreads asap
such a versatile broker and I have no regrets using Fxpro yes there have been ups and downs but the good outweighs the bad. The customer service is royal and there is no minimum withdrawal limitation so my withdrawals come anytime i demand
FxPro makes me happy, okay I agree their spreads are on the high side because I have seen lower spreads with other brokers but the overall trading experience is premium and not something you get from every broker. Their range of markets is extensive, platforms are stable & support is top notch
I just opened an account with FxPro because I heard they now offer unlimited leverage. I must confess fxPro is an amazing broker with state of the art systems and platforms. I was particularly pleased with the fxpro wallet and the low $5 minimum deposit
In Nigeria they are not very popular but ever since they introduced naira account and N5,000 promo account friend asked me to try them and I have been impressed. They do not manipulate spreads and I like that about them.
FxPro is an FSCA authorized forex broker with ZAR Accounts
| 👨 Broker | FxPro South Africa |
| 👨 Accepts South Africans | Yes |
| 📅 Year Founded | 2006 |
| ⚖ Regulators | FSCA South Africa |
| ⚖ Authorized ODP | No |
| 📈 CFD Markets | Forex, Shares, Energies, Indices, Futures, Metals, Crypto |
| 🚀Leverage | 1:unlimited |
| 🔎Auditors | PricewaterhouseCoopers |
| 💻 Platforms | TradingView, MT4, MT5, cTrader, FxPro Edge |
| 📋Account Types | Standard, Raw, Elite, cTrader |
| 💰 Minimum Deposit | $100 |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | $20 after 6 months of inactivity |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
Regulation - 5/5
Is FxPro Legit?
Yes, FxPro is regulated by the Financial Sector Conduct Authority (FSCA) here in South Africa. However they are not an authorized Over the Counter Derivative Provider (ODP)
FxPro is also 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 is also regulated by the Cyprus Securities & Exchange Commission (CySEC).
FxPro also has regulation from the Securities Commission of the Bahamas (SCB).
Invemonde LTD Trading as FxPro is also regulated by the Financial Services Authority (FSA) in Seychelles.
FxPro South Africa Regulation Summary
| 📍Country | ⚖️Regulator | #️⃣License No. | 📅Date License Issued | 🔒Trust |
| South Africa | FSCA | 45052 | 2015 | High |
| United Kingdom | FCA | 509956 | 2010 | High |
| Cyprus | CySEC | 078/07 | 2007 | Medium |
| Bahamas | SCB | SIA- F184 | Low | |
| Seychelles | FSA | SD 120 | Low |
FxPro Withdrawals & Deposits -5/5
What is FxPro Minimum Deposit?
The FxPro minimum deposit is $100 (around 1,850 ZAR) for both the Standard, Raw & cTrader Account types.
Deposit Methods at FxPro South Africa
1. Local Bank Transfer
FxPro allows deposits from several South African banks such as Absa, Stanbic, Ned Bank, African Bank, Investec etc. and the processing time is instant.
2. Broker to Broker Transfer
FxPro South Africa 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.
3. Cards (Visa, MasterCard, & Maestro)
FxPro accepts card deposits at no cost and the processing time is instant.
4. Skrill & Neteller
FxPro accepts deposits from Skrill & Neteller at no cost. Processing time can take up to 10 minutes.
5. Crypto
FxPro South Africa allows you deposit/withdraw via cryptocurrency such as USDT, Ethereum, Bitcoin, TON, ADA, LTC, SOL, USDC ERC20, XLM & XRP.
How Much is FxPro Minimum Withdrawal?
The FxPro minimum withdrawal is $25 (around 85 ZAR) & this is the smallest amount you can withdraw.
Withdrawal requests must be sent to FxPro early in the morning so that you can get the money on the same day.
Account Types - 3.5/5
Standard Account ($100)
The FxPro Standard Account's spread-only fee structure is simple & easy to work with for beginners.
Raw+ Account ($100)
The Raw+ Account pricing structure is more advanced with spreads kept low but you pay a flat commission per trade.
Elite Account ($1,000)
This account is a great option if you're planning to deposit $1,000 or more. It gives you all the benefits of the Raw+ Account, but with an extra bonus, you can earn rebates of up to 21% on your trades.
cTrader TradingView Account ($100)
To trade on the FxPro cTrader Platform (mobile and web), you must open a cTrader Account with a $100 starting deposit. This account also grants you access to use the TradingView platform.
The cTrader Account pricing requires you to pay a commission per trade plus low spreads.
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.
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.
Account Management -5/5
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.
Margin Call & Stop Out
FxPro Margin Call will come when your Margin Level falls to 25% and you will be Stopped Out of all your trades when your Margin Level falls to 0%.
FxPro Leverage
FxPro Leverage is 1:unlimited for all their account types except when you are using their promo account then the leverage is cut down to 1:500
Base Currency
FxPro South Africa lets you open your trading accounts in ZAR account currency. USD base currency is also available to South African traders at FxPro.
Negative Balance Protection
FxPro South Africa 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.
How Do I Open an FxPro Account?
First step is to register & create a profile. To register you will need to supply your email address, phone number, country of residence; then create a password.
After registration, FxPro will create an online wallet for you where your deposits will 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 government ID.
After this your account is activated & you can make your first deposit.
Range of Markets - 3.5/5
1. Forex CFDs
FxPro traders in South Africa 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 South Africa, thus enabling you to speculate on the South African Rand.
2. Spot Indices CFDs
FxPro traders in South Africa can trade CFDs on Nasdaq & other popular indices. In total FxPro offers about 18 popular indices but there's no South African indices available.
3. Spot Metal CFDs
You can trade CFDs on Gold & other precious metals at FxPro South Africa. These metals are paired against the USD & Euro; none of them is paired against the South African Rand
3. Share CFDs
At FxPro South Africa you can trade CFDs on shares of companies like Airtel Africa, Safran South Africa, other international companies.
4. Spot Energy CFDs
Brent Uk Oil, WTI Oil & NAT GAS are the only Energy CFDs you can trade at FxPro South Africa.
5. Futures CFDs
At FxPro South Africa, you can trade CFDs on Futures contracts with Agricultural commodities, Energies & Equity indices as some of the underlying assets.
6. Crypto CFDs
FxPro users in South Africa can speculate on the crypto market using 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 |
| Bonds | Unavailable | Unavailable | Unavailable | Unavailable |
| ETFs | Unavailable | Unavailable | Unavailable | Unavailable |
FxPro Fees - 4/5
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.
Is FxPro A Market Maker?
Yes, FxPro is a Market Maker; their client agreement/order execution policy implies that FxPro will act as Principal at all times & be a counterparty to all your trades.
Trading Platforms -4.5/5
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 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. TradingView
FxPro now has TradingView as one of its platforms but you need to open a cTrader raw account type to connect to TradingView.
4. cTrader
FxPro has the cTrader platform too, so you can use it to execute your trades.
FxPro Trading Tools -4/5
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.
4. Earnings Calendar
This calendar shows you dates when companies will release their earnings reports so you can trade accordingly.
5. Live Price Ticker
This tool shows you how much the price of a particular instrument has risen or fallen as at the current time. This information will act as a guide as to whether you should buy, sell or close your existing trade on that instrument.
6. Global Stock Exchange Session Time
This tool shows you when different stock exchanges around the world are open or close for business. it is a useful tool if you are trading stock indices.
Customer Support -3.4/5
1. Telephone Support
FxPro clients in South Africa 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
FxPro has live chat but it is not available on weekends and when we tested it on a Saturday, there was no automated bot response too.
3. Email Support
FxPro clients in SA can also reach out to them via email & get a response within 24 hours.
Learning 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 | No |
| 👩🏫 Academy | Yes |
Final Verdict - 7/10
FxPro South Africa is one of the best forex broker for beginners because they offer ZAR 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, the spread on their Standard Account is higher than industry averages & there is an absence of copy trading.