FxPro South Africa Review

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

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.