FxPro Broker Review – Forex Trading Platform | TradeForex

FXPro Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	CySEC, FCA, FSCA
💰 Minimum Deposit	$100 (40,000 Naira)
💳 Deposit Options	VISA, MasterCard, Bank Wire, AdvCash, Neteller, Skrill, GenialBanco, & more.
💳 Withdrawal Options	VISA, MasterCard, Bank Wire, AdvCash, Neteller, Skrill, GenialBanco, & more.
📌Open an account	Start Trading With FXPro

Disclaimer: Trading Contracts for Difference (CFDs) with FXPro carries a substantial level of risk and may not be suitable for all investors. Approximately 72.99% of retail investor accounts lose money when trading CFDs with this provider. It is crucial to fully understand the mechanics of CFDs, including the associated risks and potential rewards, before engaging in trading activities.

Our Opinion About FXPro

FXPro is an established, regulated forex broker. They are well-known for providing an excellent online trading experience and a high level of forex trading support. They are also very popular within the forex industry and they have won over 50+forex awards in recognition of their excellent forex trading services.

FXPro offers great trading conditions.  They give traders in Nigeria the opportunity to trade all the best asset classes – including forex and cryptocurrencies.  FXPro also offers traders the chance to trade with low minimum deposits, low spreads, and zero commissions. 

When it comes to their trading technology, FXPro has a lot to offer. They give you access to all the top online trading platforms – including the MT4 and MT5 trading platforms. They also provide helpful trading tools and calculators to help you plan your trades. As such, if you trade with FXPro, then you will have everything you need to start trading forex and become a successful forex trader.

Key Benefits

Regulation And Safety

FxPro operates under strict regulatory oversight from multiple authorities. These include:

• Financial Conduct Authority: FCA
• Cyprus Securities and Exchange Commission: CySEC
• Securities Commission of The Bahamas: SCB
• Financial Services Commission of Mauritius: FSCM
• Saint Kits and Nevis: KNN

Regulation in Nigeria

Nigerian traders using FxPro operate under the Saint Kitts and Nevis (KNN) entity. It’s a different setup from FCA or CySEC oversight. Nigerian clients should understand what KNN regulation entails for their trading.

Fund Safety

FxPro takes client fund safety very seriously. They separate client funds from their own company funds and keep them in separate bank accounts in major European banks. This ensures that FxPro can’t use client funds for company purposes. In addition, FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS) and FxPro Financial Services Limited is a member of the Investor Compensation Fund (ICF).

FXPro Forex Awards

FxPro has an excellent reputation in the forex industry. They won many industry awards including 26 awards for best forex provider, 39 awards for best forex broker, 16 awards for the best forex trading tools, and 14 awards for the best forex platforms. Its most recent awards include BEST BROKER 2021 UK (Ultimate Fintech Awards), BEST FX PROVIDER 2021 (Online Personal Wealth Awards), and BEST TRADING PLATFORM 2020 (Investors Chronicle & Financial Times).

FXPro: Legit Or Scam?

FXPro is a legit forex broker. They have been offering online trading services for many years and have a large client base. They are regulated by some of the strictest financial authorities in the world and operate in line with all the required regulations. In addition, they have good trading accounts, excellent trading conditions, and low trading costs. They also have a good choice of payment methods and a high level of client fund protection. In our opinion, they are a legit and trustworthy forex broker.

FXPro Trading Assets

FxPro offers a fantastic choice of over 1000+ trading instruments. You can choose from 7 major asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals, Spot Energies, and Cryptocurrencies.

FXPro Trading Instruments

• Forex: They have over 70+ forex trading instruments including major, minor, and exotic currency pairs.
• Shares: They have over 1000+ CFD shares including major brands such as Meta, Twitter, Google, Tesla, and Apple.
• Futures: They offer trading on a wide range of Future CFDs including commodities, indices and energies.
• Indices: They offer spot trading on many popular indices including the S&P500, the Nasdaq100 and the Dow Jones 30.
• Spot Metals: FxPro offers spot trading on 7 metals, including gold, silver, and platinum.
• Spot Energies: FxPro allows spot trading on some of the most popular spot energies such as Brent and WTI.

FXPro Account Types

As you can see, FxPro offers some great trading accounts. What’s great is that all of the trading accounts have excellent trading conditions including deep liquidity, and fast trade execution. They also offer low-cost trading with competitive spreads.

Standard Account

The Standard Account is perfect for beginners. It features fixed spreads and no commission. This setup makes it easier to calculate costs. Traders can focus on learning without worrying about fluctuating spreads.

Pro Account

Pro Accounts suit more experienced traders. They offer variable spreads that can get tighter during high liquidity. There’s no commission, but spreads might widen in volatile markets. It’s a good middle ground between Standard and Raw+ accounts.

Raw + Account

Raw+ Accounts are for serious traders who want the lowest possible spreads. These accounts charge a commission but offer raw interbank spreads. It’s ideal for high-volume traders who can benefit from minimal price differences.

Elite Account

Elite Accounts are FxPro’s top-tier offering. They provide the best trading conditions, including ultra-low spreads and commissions. These accounts often come with additional perks like dedicated support. They’re designed for professional and institutional traders.

FXPro Leverage

The maximum leverage available is 1:200. However, FxPro uses a dynamic forex leverage model. This means the exact leverage available for each trade depends on the trade volume. For example, as the volume per instrument increases, the maximum leverage offered decreases accordingly. This also means the exact leverage available for each trade varies to help you better manage your risk and financial exposure.

FXPro Bonuses

FXPro isn’t offering any welcome bonuses at the moment. However, their promotions change regularly and they sometimes introduce new welcome offers. As such, it is worth checking their website from time to time.

FXPro Deposits

As part of our FXPro broker review, we checked what deposit options are available. There are many payment methods for FXPro. They have zero deposit fees, which makes adding funds more cost effective, and they handle transactions quite quickly, which makes things much easier when you’re opening an account.

Deposit Methods

There are many different ways of funding an FXPro account. They offer several convenient deposit methods including debit card, credit card, and bank wire transfer. It also offers other deposit options including PayPal, Neteller, Skrill, depending on your country of residence.

FXPro Minimum Deposit

FXPro is a reliable forex broker offering affordable trading accounts. The FXPro minimum deposit is $100 – or the equivalent in other currencies (e.g. NGN, ZAR) . The minimum deposit is the same across all accounts. This means you can choose whichever account type you prefer – based on the relevant trading platforms, spreads, and commissions.

Deposit Times – How Long Does It Take

The average deposit time for debit card and credit card is approximately 10 minutes. The average deposit time for PayPal, Neteller and Skrill is also 10 minutes. However, the deposit time for bank wire transfers may be longer, depending on the banks involved.

FXPro Withdrawals

As part of our FXPro withdrawal review, we checked what payment methods are available. FXPro has good withdrawal methods, no withdrawal fees, and fast processing times.

Withdrawal Methods

FxPro offers several convenient withdrawal methods including debit card, credit card, and bank wire transfer. It also offers other withdrawal options including PayPal, Neteller, Skrill, depending on your country of residence.

Withdrawal Times

The average withdrawal time for debit card and credit card is approximately 10 minutes. The average withdrawal time for PayPal, Neteller and Skrill is also 10 minutes. However, the withdrawal time for bank wire transfers may be longer, depending on the banks involved.

Withdrawal Fees

FXPro does not usually charge withdrawal fees. However, there are some instances where you might incur extra charges. For example, there is often a charge for withdrawals if you withdraw your money without trading. Another example, there is sometimes a bank charge for withdrawals made via bank wire transfer.

Maximum Withdrawal

The maximum withdrawal amount is $10,000.

Withdrawal Problems

FXPro is a regulated broker and takes client fund safety very seriously. In order to comply with their regulatory requirements, and to ensure funds are safely returned, FXPro insists that all withdrawal requests go to a bank account or a source in the trader’s name. In order to comply with their regulatory requirements, FXPro may also request additional documentation. However, if you follow all of their guidelines, then you are unlikely to have any withdrawal problems.

FXPro Trading Platforms

FxPro offers a variety of trading platforms to suit different traders’ needs. They’ve covered all bases with desktop, web, and mobile options. Here’s a quick rundown:

• MT4 Desktop (Windows & MAC), FxPro MT4 WebTrader, FxPro MT4 Multi Terminal, FxPro MT4 Mobile (iOS & Android).
• MT5 Desktop (Windows & MAC), FxPro MT5 Mobile (iOS & Android).
• cTrader Desktop, FxPro cTrader Web, FxPro cTrader Mobile (iOS & Android).
• FxPro mobile app for iOS/Android.

Trading Tools

FxPro offers a wide selection of free trading tools. On their trading dashboard, you can get free access to a currency movers chart, a price ticker chart, and a client position chart. These will help you understand current price movements and how other traders are approaching the market. You can also access a positions volume chart, a price volatility chart, and an economic calendar. They help you to keep up with economic data releases and see their impact on the financial markets

On their trading calculator pages, you can find a free ‘all-in-one’ calculator. This helps you plan your trades based on your suggested trading instrument, leverage, and position size.

Trading Central

As part of their efforts to offer world-class forex trading support, FXPro has teamed up with Trading Central to offer their forex traders even more trading tools. Trading Central is an established consulting firm that specialise in market analysis for the forex industry. They offer a fantastic suite of online trading tools including MT4 Indicators, daily market news, and in-depth technical analysis on over 8000+ trading instruments.

As one of the top industry providers, Trading Central is a reliable source of market analysis. They use a combination of advanced automated technology and expert analysis to provide you with detailed market research. They also present their analysis in a way that is easy for you to understand to use in your own trading strategies. Thanks to their partnership with FxPro, you can get all of their trading data completely free of charge when you open an FxPro trading account.

VPS Services

In addition to their many trading tools, FxPro also offers a VPS service. The FxPro Virtual Private Server (Forex VPS) lets you upload and run your MT4 Expert Advisors and cAlgo Robots 24 hours a day, without needing to keep your trading terminal running. This means you get more uptime and better overall connectivity, as well as a smoother and faster online trading experience.

The service is provided in partnership with BeeksFX, a global leader in VPS infrastructure with an established record of providing low latency solutions. It is free for Premium Account holders and it costs $30 per month for non-Premium Account holders.

Education And Research

As part of our FXPro review, we checked what educational resources are available. FxPro offers a number of free online courses that are open to all. The courses consist of small, easy-to-learn topics and they are great for new traders looking to improve their online trading skills.

Their beginner course covers all the basics of forex trading including chart types, pips, margin, and leverage. It also teaches you how to make your first forex trade. Their course on fundamental analysis covers all the major economic indicators that you need to know. It also teaches you about leading and lagging economic indicators. And finally, their course on technical analysis covers trend lines, support and resistance levels, and major patterns.

In addition to their free educational courses, FXPro also offers many helpful video tutorials that show you how to register for an account, how to verify your profile, and how to deposit funds. It also has video tutorials that teach you how to download and use their trading platforms.

FXPro Trading Hours

FXPro operates during standard trading hours. You can open trades whenever the forex market is open. Trading hours may vary on public holidays.

FXPro Customer Support

FxPro is well-known for offering excellent customer service. They have a friendly support team that will help you with any queries you may have. They speak multiple languages and are available 24/5, Monday to Friday. You can contact them during their working hours via email, phone and live chat.

Our Verdict

FxPro is an established forex broker with a great reputation. They offer a wide range of trading accounts, all of which come with fast trade execution and low trading costs. They give traders access to a great selection of trading instruments, as well as some of the industry’s best trading platforms. As such, they offer some of the best trading conditions in the forex industry.

As a regulated company, they also offer a safe online trading environment with a high level of client fund protection. They also place a high value on forex education and trading support. They provide a wealth of online learning resources and trading tools to ensure that their traders know how and when to trade. As such, they are a great option for new forex traders in Nigeria.

FXPro Forex Broker Review FAQs

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FXPro Forex Broker Review – Similar Brokers

FXPro is a great forex broker. However, if you want to look at all your options, there are also many other good brokers in Nigeria you could consider. Here are some brokers similar to FXPro.

Looking for more information? Check out some of our other forex broker reviews.