Overview/ background
FX Pro Group Ltd serves as the holding enterprise for FX Pro Financial Services Ltd, FX Pro Global Markets Limited, FX Pro Global Markets MENA Ltd, and FX Pro UK Ltd among others. This company is truly global in every sense the word. It is fully licensed and regulated by the FCA (Financial Conduct Authority) of the United Kingdom, The Dubai Financial Services Authority, the Financial Services Board (FSB), the Cyprus Securities and Exchange Commission (CYSEC), and the SCB. This licensing and regulation ensures that forex traders are in safe hands at all times. Several of the individual companies under the FX Pro umbrella do not offer CFDs to clients in specific countries and jurisdictions. These are mainly restricted to Canada, the US, and the Islamic Republic of Iran.
FX Pro was founded 12 years ago, in 2006 as a premium-grade forex broker. This FX broker has adopted a customer-centric approach to trading, and it places client needs above those of the company. All in all, FX Pro provides 280+ financial instruments to traders, with contracts for difference spread across 6 asset categories. The most notable elements of this forex broker’s services are its trading platforms, tools and resources. FX Pro is committed to transparent trading practices, fairness, and integrity.
The company takes great pride in delivering superior customer support whenever needed, across multiple channels. Indeed, the quality of this broker shines through with a plethora of UK and international trading awards numbering some four dozen +. Among others, FX Pro received the best Forex provider award at the Investors Chronicle & Financial Times Investment & Wealth Management Awards. But it’s the trading platform, trade executions, and superior customer support that truly resonate with forex traders.
Account Types
In terms of trading account variety, FX Pro is a cut above the rest. Various account types are available to forex traders, including demo accounts on the cTrader, Metatrader4 and Metatrader5 platforms. These platforms also provide forex traders with real money trading. The FXPro Markets is a proprietary trading platform available to clients at this broker. The trading accounts allow for zero interference (this is no dealing desk), low latency and anonymous trading. Clients can enjoy multiple base currencies such as EUR, USD, CHF, EUR, AUD, GBP, and PLN. Instant trade executions and market executions are available, and all client funds are maintained in segregated accounts.
Another terrific feature of the accounts is there is negative balance protection on all real money trading activity. There are many benefits to the demo accounts as well, including full access to MetaTrader4, MetaTrader5, as well as cTrader. The demo trading account offers substantial leverage of 1:500, and a faux trading balance of £500,000/€500,000. These account types require a full registration, but the tools, features and trading activity mimics real-life market conditions.
Premium services are also available, courtesy of the FXPro VIP accounts. Premium accounts require clients to deposit $50,000 +, and they feature zero fees on deposits and withdrawals, and fully dedicated account managers. Other features of these accounts include free VPS (Virtual Private Servers), complete daily market analysis, and a wide range of exclusive events. Registration for an FX Pro Premium Account is required.
Trading Platform/ software
The CFD Forex trading platforms at FX Pro allow for Windows, Mac, iOS and Android functionality. Such is the quality of the trading platforms at FX Pro that the company won the Best Trading Platform prize at the 2015 Forex Awards. The premier trading platforms include FX Pro MetaTrader 4 and FX Pro MetaTrader 5. There are unique features in each of these trading platforms, but the MT4 is ideally suited to forex trades. It provides fixed and floating spreads, a wide range of currency pairs (majors, minors and exotic currencies), EAs, negative balance protection, instant trade execution, and market executions.
For traders who prefer to dabble in financial instruments with MetaTrader5, the benefits include tick chart trading, negative balance protection, buy stop limits and sell stop limits, market depth information, drawing tools, indicators, and timeframes. Other trading platforms and associated software includes FX Pro cTrader, and FX Pro Edge. These provide tremendous trading depth to clients in the market, with spreads starting at 0 pips on most major pairs, no requotes, full depth, and leverage ranging from 1:1 up to 1:500. FX Pro Edge offers tax-free trading in certain jurisdictions, no commissions, tight spreads, limited risk, and a wide range of metals trading, energies, shares, indices and forex trades.
Deposit options
Multiple deposit options are currently available to clients at FXPro. These include bank transfer, credit cards and debit cards such as Maestro UK, Maestro International, Visa Delta, MasterCard, Visa Electron, and Visa. Other options include PayPal, China Union Pay, NETELLER, WebMoney, Boleto, Netbanx, Skrill and others. The minimum recommended deposit for clients in SCB, FCA and CYSEC jurisdictions is $500 for MetaTrader4, MetaTrader5 and cTrader accounts. However, it is possible to make a deposit as little as $100. Clients in the DFSA jurisdiction are required to make a minimum initial deposit of $500.
Markets
The range of markets includes Forex, Futures, Shares, Spot Indices, Spot Metals, and Spot Energies. There are some 70 currency pairs available, including majors, minors and exotic currencies. Clients can enjoy leverage of 1:500 with a combination of fixed and floating spreads. Tight spreads and rapid trade executions are the order of the day. Futures trading on contracts for difference is also available. These include energy commodities, and agricultural commodities. In total, there are some 20 financial instruments, with zero commissions and dynamic leverage.
Spot indices trading is also available with 29 indices, low margin, tight spreads and no commissions.
Clients can also trade shares such as Twitter, Apple, Google and some 150+ other equities. These are available from multiple countries and jurisdictions including Germany, France, the United Kingdom, the United States, Canada and beyond. No commissions are charged on shares trading. Spot energies and spot metals round out the selection of financial markets and trading instruments available to FX Pro clients. Examples of these assets include WTI crude oil, Brent crude oil, natural gas, gold, silver etcetera.
Bonuses
We contacted customer support to find out about bonuses and promotional offers. According to the customer service professionals, ‘Bonuses are usually used as a way to lock-in customer deposits, and often come with unrealistic conditions. This is not something that we do at FxPro, and it is now also banned by regulators.’
Customer Support
The contact us button takes you directly to the customer support nerve centre. The UK headquarters are in the City of London, and clients can reach support representatives via toll-free local calls at 08000-463-050. The reception telephone number is open from 7:30 AM through 4:30 PM GMT, and the number to call is +44 (0) 20 – 7776 – 9720. The email address is: info@FXpro.co.uk, or support@FXpro.com. Customer support operations are also available in Cyprus, Monaco, the United Arab Emirates, and The Bahamas. According to The Customers’ Voice review site, FX Pro has a 4.49/5 rating from 180 reviewers.
Safety
Safety and security is under control at all times. Traders have full licensing and regulation from multiple authorities and jurisdictions, including the FCA, CySEC, FSB, FSA, and the SCB. Client funds are maintained in segregated accounts with reputable banks, and thanks to CySEC there are protections afforded via the Investors Compensation Fund (ICF). The security of trader information is safeguarded at all times.
Ease of Use
It’s relatively easy to register an account and start trading Forex online. Provided you submit the correct legal documentation, verify your account and make the requisite deposit, you can trade major pairs, minor pairs and exotic currency pairs on your choice of platforms. Everything is available from the menu bar where you will find categories like online CFD Trading, Spread Betting, Range of Markets, Trading Tools, and info about the FX Pro Group. Simply click the drop-down menus and navigate to your preferred section.
Final Thoughts
FX Pro offers a customer-centric approach to Forex trading. This highly decorated brokerage has been awarded dozens of times, and it is evident through the high-quality trading platforms, and account types that are currently available. The inclusion of demo trading accounts for most platforms is a welcome touch.
