FxPro.com Broker Review 2012 - Ratings, Likes, Dislikes, Comparison, Demo, Open Account

Review and ratings of FxPro.com - FxPro Financial Services Ltd is available on this page. Compare it with other FX brokers or share your experience.

4 1
FxPro Ratings
Commissions & Fees:
Trading Technology:
Research & Analysis:
Investments Offered:
Education:
Customer Service:
 
Overall Rating:
 

Last review date: 2/7/2012

Recommended For...
Retail Clients:
Active Private Traders:
Institutional Clients:

Recommendation is based purely on our own opinion, but we try to be objective as possible!

Basic Features
Commission Type:
Spr./Comm.
Forex Trades Fee:
7.20 USD

Displayed 'Forex Trade Fee' is spread based. Commission for Forex trades is an estimation of fees charged per round turn of $100,000 major pair units. The cost of no-commission brokers is calculated as average spread markup on majors.

Execution Type:
DD/ECN

DD - Dealing Desk, STP(MM) - Straight Through Processing/Instant Execution, STP(DMA) - Straight Through Processing/Direct Market Access, ECN - Electronic Clearing Network

Minimum Deposit:
500 USD
Minimal Contract Size:
10,000
Maximal Leverage:
1:500
Account Base Currencies:

USD, EUR, GBP, CHF, JPY

Calculated fee is for MT4 accounts. ECN account commission is $30 per $1million traded. The minimum size of an order is one tenth of a lot.

Typical Spreads (Majors)
Spread Type:
Variable
EUR/USD:
1.6
GBP/USD:
1.7
USD/JPY:
1.4
USD/CHF:
2.2
AUD/USD:
1.7
USD/CAD:
2.3

These are typical spreads on MT4 platform as recorded by mt4i.com. Official min./max. spreads can be found here.

Account Features
Islamic (Swap-Free) Acc.:
Managed Accounts:
Segragated Accounts:
Virtual Trading:
Demo Account Duration:

Unlimited

 
Account Opening:
U.S. Citizens Allowed:
Account Opening Type:
Online
Time To Open Account:
5 minutes
Paper-Work Required:
Notarization Required:
Documents Delivery:

Upload

Deposits/Withdrawals
Deposit Currencies:

USD, EUR, GBP, CHF, JPY

Withdrawal Fee:
0.00 USD
 
Deposit/Withdrawal Methods:
Wire Transfer:
Credit/Debit Cards:
PayPal:
Moneybookers:
Neteller:
Check:
ACH:

Debit/Credit card deposits are charged 1.6%.

Bonuses
Prize Contest:
1st Deposit Bonus:
Refer a Friend Bonus:
Trading Technology
WEB App:
Desktop App:
Mobile App:
Automated Trading App:
API Programming:
 
Software/Platforms:
MetaTrader4 (MT4):
VikingTrader (Currenex):
PowerTrader (Currenex):
MirrorTrader (Tradency):
ZuluTrader:

There are two basic types of trading platforms available: cTrader for ECN and MT4 for DD execution.

Tradable Instruments/Underlyings
Forex:
Stocks:
Options:
Futures:
CFDs:
Spread Betting:
 
Underlyings:
Currencies:
Oil & Gas:
Precious Metals:
Commodities:
Indices:
Stocks:
Bonds:
 
No. of Currency Pairs:
71
Order Types
Market:
Limit:
Stop:
Market If Touched (MIT):
Trailing (Server Side):
Trailing (Client Side):
One-Cancels-Other (OCO):
If-Then (Conditional):
Bid/Offer (Inside Spread):

Bid/Offer orders are available in cTrader (ECN) platform.

Trading Features
Hedging Capability:
Scalping Allowed:
One-Click Orders:
Chart Trading:
Guaranteed Stop-Losses:
Fractional Pips:
Tools & Research
Charting Package:
Free Data Feed:
News Feed:
Market Alerts:
Calendars:
Analysis:
Trading Strategies:
AutoChartist:
Online Community:
Investment Education:

FxPro Squawk provides real-time audio news & commentary for the FX markets and real-time scrolling forex news.

Customer Service & Support
Phone Support:
Email Support:
Live Chat Support:
Skype Support:
Call-Back Support:
Phone Dealing:
24/7 Support:

Multilingual Customer Support available 24 hours a day, 5 days per week.

Contact Info
FxPro Financial Services Ltd, Karyatidon 1, Ypsonas 4180, Cyprus
 
 
Tool-Free Phone: +44.800.046.3050
International Phone: +357.25.969.222
Dealing Phone: +357.25.969.239
 

Stocks-For-Beginners.com is FxPro's affiliate and is being compensated for every new opened client's account.

FxPro Broker Review

FxPro.com is a global Forex and CFD broker suitable for private and institutional clients, who received many awards in the industry in the last couple of years.

Very Positive - Clients can choose between dealing desk and ECN execution, both with very competitive trading conditions.

Could do Better - More could be done about education of clients and building an investment community for them.

Introduction

FxPro Group is providing Forex trading though its regulated companies: FxPro Financial Services Ltd located in Cyprus holds a cross border licence, authorising the company to provide investment services internationally and is regulated by CySEC and complying with MiFID (offices in Madrid, Nice, Vienna, and Moscow), FxPro UK Limited authorised and regulated by FSA, and FxPro Australia Pty Ltd located in Sydney and regulated by Australia Securities and Investments Commission. FxPro mostly serves retail clients in over 150 countries worldwide (excluding U.S. and Canada), but is gaining market share in servicing institutional clients as well. Their primary trading instrument offered to clients are CFDs on currencies, however they also provide trading with major indices, commodities, and selected individual stocks.

FXPRO Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission under the license number 078/07. Stocks-For-Beginners.com is an Introducer of FxPro.

Trading Accounts

FxPro is offering you to open account in any of five base currencies: USD, EUR, GBP, CHF and JPY. Account opening procedure only takes a couple of minutes and is fully online. You have to provide some basic information about yourself, contact data, trading experience and knowledge, a scanned copy of passport and proof of address if you are not an EU citizen. Once you profile is approved, you are provided all necessary account details and information. Depositing funds with FxPro is easy through Credit/Debit Cards, PayPal, Neteller, Moneybookers and Bank Wire Transfer and secure thanks to advanced SSL encryption technology.

There is also a demo account available, so that you can test drive you trading ideas and strategies in front before investing any real money. One nice feature is that you can move forth and back between different trading accounts, also real and demo, from a single page. Accesses to account balances are quickly accessible this way. Also the account management system is well designed and easy to use, so you will have no problems with managing passwords, applying for new accounts, print statements or editing your profile information.

It is important to notice that all clients' funds are segregated from company's assets and kept in separate bank accounts of investment grade banks (HSBC, Barclays, Credit Suisse), so there is no chance to use them for any other purpose. Besides, FxPro is a member of ICF - Investors Compensation Fund, providing clients' additional protection. Clients also don't have to worry about losing more money than initially deposited because of automated transaction monitoring and risk-management system.

Trading Platforms

A very positive thing with FxPro is that you will be able to use any of available trading platforms to trade with from a single profile: Web Trader, ECN cTrader, MT4, or mobile solutions for iPhone/iPad, Android and other Smart-phones.

cTrader is a very powerful and easy to use platform, offering clients to trade Forex only, but giving them access to multiple global banks in ECN network. This way the highest possible liquidity and tightest possible spreads are insured. Minimum initial deposit for cTrader account is $1,000.

FxPro cAlgo is the new automated trading software for trading with the FxPro cTrader ECN platform. Combining Fxpro cAlgo with FxPro cTrader gives traders access to a wealth of essential functionality required for successful technical analysis and automated trading.

MetaTrader 4 (MT4) is a standard among Forex and CFD trading platforms, offering first class automation and back-testing capabilities, plus advanced charting and order execution options. This platform is most recommended for advanced traders, looking for competitive edge. So called MT4 MultiTerminal version is for money managers, offering them simultaneously trading on more than one accounts.

Purpose of WebTrader is to provide access and trading capabilities to clients from anywhere internet is accessible. This application is user-friendly and provides sufficient functionality for most of routine tasks. Some advantages of WebTrader are: advanced RT charts, several technical analysis indicators, access anywhere anytime from the browser, one-click execution, customizable tools and charts, drag-and-drop modules environment, several instruments (Forex, commodities, CFDs, futures and shares), secure connection.

Technicians at FxPro are very well aware of the fact that more and more users surf the web and also trade via their mobile devices. So it is no surprise that they cover most of modern mobile phones and related devices like iPhone/iPad, BlackBerry (bTrader), Android, Smartphone and Mobile OS. All mobile apps are based on MT4 platform.

Investments Offered

You can trade several underlyings with FxPro, such as spot Forex (MT4 and ECN platforms), while other instruments are traded as Contract for Differences (CFDs): precious metals (gold, silver), commodities (light/sweet crude oil, natural gas, wheat, soybean and corn), most popular US and European stocks, and futures on popular stock indices.

FX Pairs: USD/ZAR, USD/TRY, USD/SGD, USD/SEK, USD/RUB, USD/PLN, USD/NOK, USD/MXN, USD/LTL, USD/LVL, USD/JPY, USD/HUF, USD/HRK, USD/HKD, USD/DKK, USD/CCK, USD/CHF, USD/CAD, SGD/JPY, PLN/JPY, NZD/USD, NZD/SGD, NZD/JPY, NZD/CHF, NZD/CAD, NOK/SEK, GBP/ZAR, GBP/USD, GBP/SGD, GBP/SEK, GBP/PLN, GBP/NZD, GBP/NOK, GBP/JPY, GBP/DKK, GBP/CHF, GBP/CAD, GBP/AUD, EUR/ZAR, EUR/USD, EUR/TRY, EUR/SGD, EUR/SEK, EUR/RUB, EUR/PLN, EUR/NZD, EUR/NOK, EUR/MXN, EUR/LVL, EUR/JPY, EUR/HUF, EUR/HKD, EUR/GBP, EUR/DKK, EUR/CCK, EUR/CHF, EUR/CAD, EUR/AUD, CHF/SGD, CHF/PLN, CHF/JPY, CAD/JPY, CAD/CHF, AUD/USD, AUD/SGD, AUD/PLN, AUD/NZD, AUD/DKK, AUD/JPY, AUD/CHF, AUD/CAD.

Shares: Alcoa, American Express, Boeing, Citigroup, Caterpillar Inc, Dupont (EI) Company, Walt Disney, American International Group, General Electric, Home Depot, Honeywell International, Hewlett-Packard, IBM, Verizon Communications, Intel, Johnson and Johnson, JP Morgan Chase, Coca-Cola, Mcdonalds, 3M Company, Altria Group, Merk, Microsoft, Procter & Gamble, AT&T, Pfizer, United Technologies Corporation, Wal-Mart Stores, Exxon Mobil.

Commodities: Gold, Gold/EUR, Silver, Silver/EUR, Light/Sweet Crude Oil, Natural Gas, Wheat, Corn, Soybean.

Stock Indices: Euro Stoxx 50 Index, E-Mini S&P 500, E-Mini NASDAQ 100, Mini-Sized DOW, Cac 40 Index, DAX Index, FTSE 100 Index, Nikkei 225 Index, SMI Index.

Awards

FxPro is continuously looking to provide its clients the best possible service, trading technology, and customer support in the industry. Therefore it is not a surprise that they are known as one of the best Forex brokers in the world, which is demonstrated by several independent and respected awards. In 2011 they got a 'Best Institutional Broker' award from Forex Expo for the second year in a row, reflecting their expertise in serviced provided to institutional clients. In 2010 they got a 'Forex Provider of the Year' award from Financial Times/Investors Chronicle. Among others they were also awarded for innovation, fastest growing global FX broker, best global trading platform, best Forex broker by World Finance magazine and by the CEO Magazine.

Customer Services

FxPro customer service is available 24/5 via different channels: phone, email, live chat and even call-back. They have a very nice and well organized contact details page within their website, where direct contacts of different branches and departments are provided.

 

 

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