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FxPro Broker Review For Nigeria In 2023

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+ in recognition of their excellent forex trading services.

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

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 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.

Trading Instruments

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. 

  • 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 Accounts

As you can see, FxPro offers some great trading accounts. What’s great is that of all of the trading accounts also come with excellent trading conditions including:

  • No dealing desk intervention
  • Сompetitive spreads with no commission
  • Ultra-fast execution with most orders filled <14ms
  • Ultra-low latency Equinix datacentre co-location
  • Deep Liquidity providing the best possible Bid and Ask prices

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. Your next best option is most likely USD.

FXPro Currency Banner

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 it 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 a great trading platform that you can easily use to analyse the markets and implement your trades.

FxPro Trading Platform

FXPro also offer 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 platofrms, 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.

Fund Safety

FxPro takes client fund safety very seriously. They separate client funds are 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).

Deposits & Withdrawals

FxPro accepts Bank Wire transfers, Credit/Debit cards, PayPal, Neteller, Skrill, and other additional methods as per your country of residence.

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, 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.

FXPro Chart Banner

Forex Education

FxPro offers a number of free online course 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 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 videos tutorials that teach you how to download and use their trading platforms.

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.

FxPro VPS Services

In addition to their many trading tool, 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.

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. It’s 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).

Documents

To sign up for a live account you’ll need to provide a proof of ID and a proof of address. This is so that FxPro can verify your identity. You can send them copies of your National ID card, Passport or Driving License . You can also send them copies of a utility bill or a bank statement registered in your name.

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.

Conclusion

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 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.

Ready to start trading? Open an FxPro trading account. Looking for more information? Check out some of our other forex broker reviews.

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