FxPro is a considered to be one of the leading online forex brokers which was established by a group of long-term financial experts headed by Denis Sukhotin, founded in 2006. The broker is regulated by the Cyprus Securities Exchange Commission (CYSEC) under license no: 078/07 and the Financial Conduct Authority (FCA) under the registration no. 509956. Established with the target to offer retail traders the best and the most reliable and safe avenue to trade the financial markets, In addition to spot forex, FxPro also offers their traders the opportunity to trade CFDs on Commodities, Futures and indices.
FxPro Reliability – Is FxPro a scam?
With an experience of nearly 10 years, FxPro is considered one of the leading online forex trading platforms in the market. As a result,there is absolutely no doubt about the reliability of their services. To make it easier on clients who are unfamiliar with this broker, FxPro is a Financial Conduct Authority (FCA) and Cyprus Security Exchange Commission (CYSEC) regulated broker. The company was established in 2006 by a group which is led by Denis Sukhotin with a wide background in the financial industry. Prior to FxPro, Denis Sukhotin was the head of the Russian equity desk at Severis, and Athienitis Financial Services Ltd, one of the biggest investment houses in Cyprus.
Apart from having an efficient management team that is leading the company, FxPro is regulated by the U.K’s Financial Conduct Authority (FCA) and the Cyprus Securities Exchange Commission (CYSEC). As an authorized broker, all of FxPro’s traders’ funds are guaranteed that their traders are entitled to compensation in the event FxPro become insolvent under the UK’s Financial Compensation Scheme (FSCS) and Cyprus’s Investors Compensation Fund (ICF). furthermore, all of FxPro’s clients have the advantage of ensuring their balance from falling below with FxPro’s negative balance protection.
FxPro provides services to both retail and institutional clients meaning FxPro will lose a large amount of business if their services fall below par. Because of this, FxPro has a target and aims to provide quality services in terms of trading conditions and execution of trades. In fact,it is often times said that the trading conditions at FxPro are one of the best that retail traders can get in the industry. Institutional traders with more bargaining power mostly will demand deep liquidity as well as aggregation services. In order to be able to provide to their institutional clients’ demands, FxPro achieved the technology and as well as the technical competence to to make sure that all of its traders are satisfied.
Finally,to back up and prove the capability and reliability,is the recognition from several internationally acclaimed reviewers of the financial services sector. For example, FxPro has been named the “Best FX Broker 2014” by the UK investing magazine “Shares Magazine”. They were also named as the “Best Forex Trading Platform” for year 2013 by the Investors Chronicle and Financial Times. To put it in simple words,traders at FxPro can sleep well at night knowing with confidence that their broker is one of the best forex online trading platform in this business. Except from enjoying legal protection,many of their clients know that their broker is managed by a strong,efficient and reliable management team.
As for the trading platforms FxPro is offering, this broker does his best to guarantee that all the necessary tools for an easy and efficient execution of trades are available at the tip of their traders’ fingertips. For instance there are several different types of trading platforms to fulfill everyone’s’ trading needs regardless of their experience. For the serious forex trader, the
platforms that are being offered include:
- FxPro MetaTrader 4
- Industry Proven Platform which allows traders to trade with both fixed and floating spreads with immediate execution.
- FxPro MetaTrader 5
- Upgraded version of the popular MetaTrader with all the efficiency of its predecessor.
- FxPro cTrader
- Designed for trading CFDs, the FxPro cTrader with all traders to trade with full market depth and raw spreads.
- FxPro – Trading Platforms
- Algorithmic Trading
For traders who consider algorithmic trading as their cup of tea, FxPro has also put alot of effort to provide them with all the necessary resources. These include giving traders access to:
- cAlgo Algorithmic Trading
- FxPro Library
- FxPro Quant Strategy Builder
- FxPro VPS
- Account Types
- To help their traders maximaize the value of their invested capital, FxPro offers the following for their clients to choose from:
- FxPro MetaTrader 4 Account
- Access to both floating and Fixed spreads
- FxPro MetaTrader 5 Account
- Trade with floating spreads at Market execution
- FxPro cTrader Account
- Trade CFDs with floating spreads at Market Execution
Apart from the above accounts, FxPro also provide specialized services for VIP clients and institutional clients.
Commission & Spreads
There is absolutely no commission for opening and closing positions on the MT4 and MT5 platforms, with FxPro applying a minor mark-up to the spread. MT4 spreads start from 0.6 pips.
cTrader clients are charged a commission fee of 45USD for every 1 million USD traded upon opening a position, and 45USD upon closing the position, when trading forex and spot metals. Spreads on cTrader start from 0 pips.
Support at FxPro is available 24/5. To make sure that their traders get an impeccable level of attention from the support team, multi-lingual support is available. To access the support services, traders can contact customer support through email, live chat or the telephone. A Call back service is also available in case a trader feels that it is more convenient for him to have the support team call him back.
When it come to reliability, FxPro has proven and keeps on proving themselves many times over by having won numerous awards such as:
- Best Forex Trading Platform 2013
- Best FX Broker 2014
- Best FX Service Provider 2014
- Best Forex Broker 2015
- Best Forex Broker 2016
These awards are handed by internationally recognized reviewers such as Investors Chronicle, Financial Times, Share Magazine and Goodacre UK consultancy.
- Access to FxPro EA Library
- Autotrading platform provided
- Client Funds are Insured
- Clients are kept in Segregated Accounts
- Comprehensive range of FX Tools at the trader’s disposal
- Dedicated 24/5 customer support
- FCA & CYSEC Regulated
- Multiple choices of trading platforms
- Negative Balance Protection on all platforms
- CFDs trading are not available to traders from the U.S and the Islamic Republic of Iran.
For the guys at FxPro,improvement is key. They admit that they are always seeking to incorporate new technologies into their services making sure that their traders are always given the best services out there. The attention does not stop only on their trading platforms but also extended to their expert analysis, educational resources and trading tools.