Contents
- 1 FXPro Basics
- 2 Our Opinion About FXPro
- 3 Key Benefits
- 4 Regulation And Safety
- 5 Regulation in Nigeria
- 6 Fund Safety
- 7 FXPro Forex Awards
- 8 FXPro: Legit Or Scam?
- 9 FXPro Trading Assets
- 10 FXPro Trading Instruments
- 11 FXPro Account Types
- 12 MT4 Account
- 13 MT4 Instant Account
- 14 MT5 Account
- 15 cTrader Account
- 16 FXPro EDGE Account
- 17 FXPro Demo Accounts
- 18 FXPro Islamic Account
- 19 FXPro PAMM Account
- 20 Base Currencies
- 21 FXPro Leverage
- 22 FXPro Spreads
- 23 FXPro Commission
- 24 FXPro Bonuses
- 25 FXPro Deposits
- 26 Deposit Methods
- 27 FXPro Minimum Deposit
- 28 Deposit Times – How Long Does It Take
- 29 Deposit Fees – Rates
- 30 FXPro Withdrawals
- 31 Withdrawal Methods
- 32 Withdrawal Times
- 33 Withdrawal Fees
- 34 Maximum Withdrawal
- 35 Withdrawal Problems
- 36 FXPro Trading Platforms
- 37 Trading Tools
- 38 Trading Central
- 39 VPS Services
- 40 Education And Research
- 41 FXPro Trading Hours
- 42 FXPro Customer Support
- 43 Our Verdict
- 44 FXPro Forex Broker Review FAQs
- 45 FXPro Forex Broker Review – Similar Brokers
FXPro Basics
🏛️ Based in | Limassol, Cyprus |
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⚖️ 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 |
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
They are a regulated forex broker that holds multiple licences from various reputable regulatory authorities. FxPro UK Limited is authorised and regulated by the FCA in the UK since 2010. The FxPro Financial Services Limited company is authorised and regulated by the CySEC in Cyprus since 2007, and by the FSCA in South Africa since 2015. FxPro Global Markets Limited is regulated and authorised by the SCB, and by the FSC in Mauritius since 2023.
Regulation in Nigeria
Nigerian traders can register under the FxPro Global Markets Ltd subsidiary, which is regulated by the SCB. As such, Nigerian traders can benefit from many important protections. For example, FXPRO is required to ensure that a retail client account’s net equity never falls below 50 percent. They are also required to ensure that a retail client’s account has negative balance protection.
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. The leverage on forex pairs is up to 200:1.
- Shares: They have over 1000+ CFD shares including major brands such as Meta, Twitter, Google, Tesla, and Apple. The maximum leverage on CFD shares is up to 25:1.
- Futures: They offer trading on a wide range of Future CFDs including commodities, indices and energies. The maximum leverage on futures is up to 50:1.
- Indices: They offer spot trading on many popular indices including the S&P500, the Nasdaq100 and the Dow Jones 30. The maximum leverage on indices is up to 200:1.
- Spot Metals: FxPro offers spot trading on 7 metals, including gold, silver, and platinum. The maximum leverage is up to 1:200 on gold and silver, but 1:50 on platinum.
- Spot Energies: FxPro allows spot trading on some of the most popular spot energies such as Brent and WTI. The maximum leverage is up to 100:1.
- Cryptocurrencies: FxPro offers trading on 5 cryptocurrencies including Bitcoin, BitcoinCash, and BitcoinGold. The maximum leverage is up to 20:1.
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, fast trade execution, and no dealing desk intervention. They also have low cost trading with competitive spreads.
Type | Spreads | Min. Deposit | Max. Leverage | Commission |
---|---|---|---|---|
MT4 | From 1.7 pips | $100 | 1:200 | $0 |
MT4 Instant | From 1.8 pips | $100 | 1:200 | $0 |
MT5 | From 1.6 pips | $100 | 1:200 | $0 |
cTrader | From 0.3 pips | $200 | 1:200 | $9 per lot |
FXPro Edge | From 1.7 pips | $100 | 1:200 | $0 |
MT4 Account
The MT4 Account comes with an average spread of 1.71 pips on EUR/USD and there are no commissions. It also comes with high leverage of up to 1:200, depending on which instrument you choose. The FXPro minimum deposit for this account is $100 and the base currency is USD. As the name suggests, the account is only available on MT4.
MT4 Instant Account
The MT4 Instant Account comes with an average spread of 1.84 pips on EUR/USD and there are no commissions. It also comes with high leverage of up to 1:200, depending on which instrument you choose. It has instant trade execution, and can be used to trade micro lots. The FXPro minimum deposit for this account is $100 and the base currency is USD. As the name suggests, the account is only available on MT4.
MT5 Account
The MT5 Account comes with an average spread of 1.65 pips on EUR/USD and there are no commissions. It also comes with high leverage of up to 1:200, depending on which instrument you choose. The FXPro minimum deposit for this account is $100 and the base currency is USD. As the name suggests, the account is only available on MT5.
cTrader Account
The cTrader Account comes with an average spread of 0.31 pips on EUR/USD and a $9 per lot commission fee. You can use it to trade forex, metals, indices, and energies. It also comes with high leverage of up to 1:200, depending on which instrument you choose. The FXPro minimum deposit for this account is $100 and the base currency is USD. The account is only available on cTrader.
FXPro EDGE Account
The FXPro Edge Account comes with an average spread of 1.71 pips on EUR/USD and there are no commission fees. You can use it to trade forex, metals, indices, and energies. It also comes with high leverage of up to 1:200, depending on which instrument you choose. The FXPro minimum deposit for this account is $100 and the base currency is USD. As the name suggests, the account is only available on FXPro’s proprietary Edge trading platform.
FXPro Demo Accounts
As a reliable broker, FXPro also offers a demo trading account. This is great for so many reasons. With a demo account you can improve your trading skills and familiarise yourself with different trading strategies. You can also get a feel for the financial markets and what forex trading is all about. This is very helpful for new Nigerian traders, especially if it’s your first time trading.
FXPro Islamic Account
All of the FXPro accounts are available as Islamic Accounts, and you can choose this option when opening your online trading account. Additional commission fees may apply.
FXPro PAMM Account
FXPro doesn’t offer PAMM accounts at the moment. This means that Nigerian traders are unable to access managed account services. However, they do offer a copy trading service. This means that Nigerian traders can learn from more experienced traders and copy trades in exchange for a small fee.
Base Currencies
FxPro offers these base currencies: USD, EUR, GBP, CHF, PLN, AUD, JPY, and ZAR. Unfortunately, they do not offer NGN as a base currency.
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 Spreads
The MT4, MT5, and FxPro Edge accounts have trading costs included in the spread. The minimum spread is therefore 1.4 for the MT4 account, 1.52 for the MT5 account, 1.41 for the Edge account. However, the cTrader Account offers lower spreads in exchange for a commission. The minimum spread is therefore 0.31 for the cTrader account.
FXPro Commission
The MT4, MT5, and FxPro Edge accounts have trading costs included in the spread. The commission is therefore $0 for the MT4 account, the MT5 account, and the Edge account. However, the cTrader account offers lower spreads in exchange for a commission. The commission is therefore $9 per lot for the cTrader account.
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.
Deposit Fees – Rates
There are no deposit fees.
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 MetaTrader4, MetaTrader5, cTrader and their own FXPro trading platform.
- MetaTrader4 – MetaTrader4 (MT4) is a great choice for new forex traders. It has a very user-friendly design and comes with many easy-to-use trading tools. You can use it to trade all of the top CFD trading instruments including forex, crypto and stocks. It also has advanced charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. You can use these to implement your trading plans and learn more about technical analysis.
- MetaTrader5 – MetaTrader5 (MT5) is also a great option for forex traders in Nigeria. It has a convenient setup with many built-in trading tools. As with MetaTrader4, you can use it to access all of your favourite markets. It has a simple, but modern interface. It also has a wide selection of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has more functionality than MetaTrader4. That said, it is still very for new forex traders to use.
- cTrader – cTrader is a less well-known but equally powerful trading platform. It comes with a clean, customisable interface that is easy to navigate. As with MT4 and MT5, you get access to a wide range of CFD trading instruments including forex, metals, and stocks. cTrader comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. As such, it is a great trading platform that you can easily use to analyse the markets and implement your trades.
- FxPro Trading Platform – FXPro also offers their own proprietary trading platform. It has a customisable layout and the choice of two design themes. It also has detachable chart windows and many helpful trading widgets. As with the other platforms, you can use it to trade any of the available FxPro trading instruments. You can also use it to get access to 6 order types, 50+ technical indicators, and many helpful charting tools. As it is their proprietary trading platform, FxPro also ensures easy access across all devices.
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
FXPro is an online trading company. They were first established in 2006 and have been offering online trading services for many years. They have a large, international client base. FXPro well-known for providing an excellent online trading experience and is widely considered to be one of the best online forex brokers in the industry. They are very popular amongst clients, have an excellent online reputation, and have won over 50+ forex awards..
Yes, FXPro in Nigeria is a good broker. They have a nice selection of account types, all of which have very low minimum deposits. FXPro has many trading instruments including forex, stocks, indices, and commodities. They also offer very good trading accounts and excellent online trading conditions.
Yes, FXPro in Nigeria is a legit forex broker. They are an international forex company with offices in key locations around the world. With regards to their services, they provide great trading accounts, fair trading conditions, and helpful trading tools . Furthermore, they provide a good selection of payment methods and offer a fast, smooth withdrawal process. In our opinion, they are a legit forex broker.
No, they are not. However, they do offer ZAR as a base currency.
Yes, FXPro is a licensed forex broker. They hold multiple licences from various reputable regulatory authorities. FxPro UK Limited is authorised and regulated by the FCA since 2010. The FxPro Financial Services Limited company is authorised and regulated by the CySEC since 2007 and by the FSCA since 2015. FxPro Global Markets Limited is authorised and regulated by the SCB.
FxPro is a No Dealing Desk Execution broker.
Yes, FXPro is a safe forex broker. When it comes to fund safety, they choose to go beyond their basic regulatory requirements, and offer a higher level of fund protection. FXPro keeps all client funds in segregated accounts, separate from its operating capital. This means that they can never use client funds for their own operational purposes. In our opinion, FXPro is a safe company to trade with.
The minimum deposit is $100 on all accounts.
The maximum leverage available is 1:200. However, FX Pro 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.
The MT4, MT5, and FxPro Edge accounts have trading costs included in the spread. The minimum spread is therefore 1.4 for the MT4 account, 1.52 for the MT5 account, 1.41 for the Edge account. However, the cTrader Account offers lower spreads in exchange for a commission. The minimum spread is therefore 0.31 for the cTrader account.
Yes, they have cryptocurrency trading. You can choose from many popular cryptocurrencies including Bitcoin, Cardano, and Ripple. FXPro crypto trading and FXPro Bitcoin trading are available on all accounts.
FXPro offers 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 has a fairly simple account model. There are five main trading accounts. All of the trading accounts have excellent trading conditions including deep liquidity, fast trade execution, and no dealing desk intervention. They also have high leverage, low trading costs, and a good choice of instruments. To open an FX Pro trading account, you simply complete the online registration process, provide the requested documents, and make the $100 minimum deposit.
Yes, FXPro is good for beginners. They have several affordable account options, all of which come with low trading costs and low minimum deposits. They also have a large selection of trading tools and educational resources.
FXPro is one of the best forex brokers in the industry. They have great trading accounts with low minimum deposits and low trading costs. They also have a wide range of trading instruments, trading platforms, and trading tools. However, if you want to look at alternative options, there are many other great forex brokers as well. We recommend looking at HotForex, FXTM, FXPrimus, and Instaforex.
Ready to start trading? Open an FxPro trading account.
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.
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CopyTrading | |||||
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