FxPro is a long-established company among FX companies established in 2006.
With a capital of $ 100 million, more than 200 employees, the world's largest accounting firm "PwC" with external audits in Japan, and more than 610,000 accounts in 173 countries around the world, both business scale and management base are perfect.
However, spreads are wide and they are notorious for price adjustment.
As you can see, there are other vendors that do not have to choose FxPro.
- FxPro Safety
- FxPro Reviews
- Features, Pros and Cons of FxPro
- From opening FxPro account to deposit and withdrawal
- FxPro Terms and Conditions
- FxPro Trading Tools/ Apps
- FxPro Customer Support
- FxPro Information Service
- FxPro Campaign Bonus
Financial license acquired in 4 countries
|Financial license||Cyprus Stock Exchange Commission
|Bahamas Securities Commission
|UK Monetary Behavior Watcher
|Dubai Financial Services Organization
|Japanese account opened||◯||◯||×||×|
|Leverage||Up to 30 times||Up to 500 times||Up to 30 times||Up to 50 times|
The FxPro Group acquires and provides financial licenses in four countries: Cyprus, Bahamas, United Kingdom and Dubai.
As Cyprus is a member of the EU, CySEC, as a member of the European Securities and Regulatory Commission (CESR), is responsible for the regulatory and supervisory role of MiFID.
As a result, Cyprus account leverage is up to 30 times at the maximum due to the impact of tighter regulations on European forex brokers.
On the other hand, Bahamas accounts can be traded with high leverage up to 500 times.
In this article, we will basically discuss the Bahamas account in order to compare it with other high-leverage trading partners.
|Operating company||FxPro Global Markets Ltd.|
|Financial license||Bahamas Securities Commission (SCB)|
The Bahamas has recently attracted attention as a new home from FX companies, and is a country with many US and European financial services companies.
In GDP, the financial sector is the second largest after tourism and it is a major source of income for the Bahamas.
Parliamentary democracy is enacted under the laws of the United Kingdom, money laundering regulations follow the rules of the Organization for Economic Co-operation and Development (OECD), and in the international business world, Bahamas-based companies are credible and seen favorable.
In addition, since the UK account holds an FCA license that is difficult to obtain because of high registration criteria, it can be said that the reliability of the group as a whole is extremely high.
Complete separation management and complete trust maintenance
FxPro fully manages commerce and client assets at major banks such as Barclays Bank PLC, Bank of America and Royal Bank of Scotland .
In the Bahamas account, foreign forex trading partners called IFCs are members of a fund where funds are exchanged among foreign forex trading partners, and in the event that the trading goes bankrupt, there is a mechanism to compensate for losses up to 20,000 Euros.
Next, let's look at some of the word of mouth and reputation.
Complaints about high price stands out
The reputation of the largest FX bulletin board "FPA (Forex Peace Army)" as "" isn't that great.
In addition, it seems that there have been occasional false reviews with compensation in the past, and FPA has issued many warnings to FxPro.
Since FPA is a neutral bulletin board, and evaluation is left to reviews from general users, it is unusual for FPA to respond to vendors in this way.
Therefore, we considered that the credibility of a well-rated review is low, and when we focused on bad ratings, "the rate may be largely different from other companies", "price operation", "intentional server Reviews on trader losses, such as slippage due to delays" were noticeable.
Features, Pros and Cons of FxPro
|Transaction cost||Account Creation
（Per 100,000 currency）
|Free||$4.50 one way|
|Spread||Fluctuates||9 Stocks only
|Trade condition||Transaction form||NDD STP
|Currency pair||69 stocks|
|Minimum transaction unit||1,000 currency (0.01 Lot)|
|Maximum transaction volume||10,000 Lot||No limit|
|Order process||One click, market, limit, stop, IFD, OCO, IFO|
|Deposits and withdrawals||Initial deposit amount||$500|
|Deposit fee||Varies on deposit method|
|Asset protection||Separated management||◯|
There are many good points but the overall strength is low
The basic specs are: "Leverage up to 500 times", "69 kinds of currency pairs", "Zero cut adopted, no additional certification" and so on.
With regard to deposits and withdrawals, credit cards, bank remittances and online wallets are available, and fees are generated by the deposit and withdrawal method used, which is a very common service for forex companies.
The platform can be selected from three types: MT4, MT5 and cTrader, and highly transparent transactions by the NDD method are possible.
However, please be aware that there are 5 types of accounts, spread, transaction fee, and settlement methods all vary from each other, not just the platform.
|Fixed/ Fluctuates||Markup||Spread Width|
|MT4 market||Fluctuates||Yes||Normal||Free||Market payment|
|MT4 instant||Fluctuates||Yes||Wide||Free||Immediate settlement|
|MT4 Fixed Spreads||Fixed||Yes||Wide||Free||Immediate settlement|
|cTrader||Fluctuates||No||Narrow||$4.50 each way||Market payment|
In conclusion, the most recommended is the cTrader account.
The cTrader account is, as the name suggests, adopted cTrader as the platform.
cTrader is a platform that combines MT4 and MT5 and is said to have superior operability and functions, so it should be worthwhile to use FxPro alone.
However, FxPro has the following disadvantages and cautions, so it is not a high-level all-rounder type vendor.
Transaction costs are slightly higher than other companies
FxPro is slightly more expensive than other companies in transaction costs.
The comparison of the specific amount will be explained in detail later in "The best deal with transaction costs is cTrader account".
However, if you compare the same FxPro account, the cTrader account will generate a transaction fee of $ 4.50 (per 100,000 currency), but the spread will be the narrowest and the total transaction cost will be cheaper than other accounts. .
For MT4 Fixed Spreads account, only 9 spreads are fixed in principle, and other stocks and accounts are changeable, but there is not much difference in spread except cTrader account.
With the exception of cTrader accounts, spreads are set slightly wider instead of free transaction fees.
ECN trading can not be done
All FxPro accounts are in the form of NDD STP.
Therefore, the inability to support one of the mechanisms of the NDD method, "ECN Trading", is a major disadvantage of FxPro.
To briefly explain these two NDD methods, STP is a transaction with a financial institution called LP (Liquidity Provider), and ECN is an auction-type transaction with other users.
Generally, neither deal with the dealer's dealing desk and both order flow directly to the market, but the definition may differ depending on the vendor.
Please note that FxPro also has the following differences depending on whether the account settlement method is "market settlement" or "immediate settlement".
In market settlement, customer's orders flow directly to LP (liquidity provider) using STP technology.
However, there is a concern that slippage and re-quotes may occur due to a gap between the order price displayed on the trading screen and the execution price at which the order actually settles.
However, because there is no vendor intervention, the system is very transparent.
There are three types of accounts for market settlement: MT4 market account, MT5 account and cTrader account.
Immediate settlement, FxPro will first cover the customer's order.
Although there is no human intervention by the dealer's dealing desk, the trading partner is FxPro because it is actually OTC (counter-trade) using STP technology.
The immediate settlement account has the advantage that FxPro covers the customer's order, making it possible to fix the spread and reduce slippage and requests as much as possible.
There are two types of accounts for immediate settlement: MT4 instant account and MT4 Fixed Spreads account.
Those who value transactional transparency think that market settlement accounts such as cTrader accounts, and those who seek stable execution power on the contrary think that immediate settlement accounts are good.
However, there are advantages and disadvantages to this payment method, so it can not be generally said which one is better.
In the extreme, if you can make a profit, it will be fine with either payment method.
From opening FxPro account to deposit and withdrawal
Opening an account is easy but approval takes time
The following two points are necessary to open an account.
- Image data of identity verification documents
- Image data of address confirmation documents
Please refer to the following for the procedure method.
The required time is around 5 minutes, but it takes time to finish the approval of required documents than other companies, so please make sure that you have enough time.
Account opening procedure
NETELLER・Skrill required for deposit and withdrawal
|Method of deposit and withdrawal||Supported currency||Time frame||Fee|
|Deposit||Credit / debit card||JPY、USD、EUR
|Usually within 10 minutes||Free|
|Within 1 business day||Varies by
|Usually within 10 minutes||Free|
|Withdrawal||Credit / debit card||JPY、USD、EUR
|Within 1 business day||Free|
There are three types of deposit and withdrawal methods available: credit card, bank remittance, and web money.
In FxPro, "NETELLER" and "Skrill" can both be used without any problems.
“NETELLER” and “Skrill” are fee to use WEB money and account reflection time is almost instant.
These two are becoming unavailable to many FX vendors due to the impact of global regulations.
The procedure is relatively easy as you just select the desired service from My Page and follow the instructions on the screen.
FxPro Terms and Conditions
69 Currency pairs
Currency pairs are very abundant with total of 69 types of accounts.
In addition to currency, FxPro also handles a wide range of CFD products such as futures, indexes, precious metals, energy, etc.
Transaction costs are best for cTrader accounts
Floating spread accounts
Fixed spread accounts
|MT4 Fixed Spreads（pips）|
The spreads are the narrowest for cTrader accounts, and the other accounts are not much different.
If anything, fixed spreads (only 9 pairs) of MT4 Fixed Spreads account can only be used for risk aversion during sudden market changes.
Therefore, for accounts other than cTrader account, it is better to select based on fixed / varying, platform, and settlement method.
However, as mentioned above, overall cost is slightly higher compared to other companies' accounts.
Sell swap is high
There are many negative swaps overall, but the amount of sell swaps is relatively high.
Depending on the currency pair trading and the market conditions, medium- and long-term trading will be "acceptable".
Zero cut adopted, no additional certification
In FxPro, the margin maintenance rate at which the margin call/ loss cut fires differs depending on the platform.
For MT4, it is “margin call 25%, loss cut 20%”, and for MT5 and cTrader, “margin call 40%, loss cut 30%”.
In addition, there is no additional certificate because it uses a zero cut system for all accounts.
FxPro Trading Tools/ Apps
There are three types of trading tools in FxPro: MT4 (metatrader 4), MT5 (metatrader 5) and cTrader (C trader).
All have smartphone apps, so there is no problem trading on the go.
Both MT4 and MT5 available
cTrader has some functional limitations
cTrader is a platform that has also been evaluated to exceed MT4 and MT5, and only a limited number of vendors are available.
Originally developed specifically for ECN trading, you can view board information as a standard, but with FxPro, the functionality is limited because ECN trading can not be performed.
However, the other functions, operability, and design are the same, and automatic trading is also possible (not compatible with MT4 and MT5).
FxPro Customer Support
There are 3 types of support: phone, email and chat
|Call center||24 hours on weekdays|
There are 3 types of customer support: telephone, email and chat, and are available 24 hours on weekdays.
FxPro Information Service
Video seminars and manuals are abundant
All trading tool manuals and seminars available to view on video.
News and blogs provide expert market analysis and insights, prospects, alerts and market snapshots.
Dealing support tool is complete
FxPro offers many useful support tools as well as trading tools and smartphone apps.
Even if you do not have the trading tool running, you can use the extension of Google Chrome that you can browse volatility, economic calendar, and market information.
In addition, as we have partnered with Trading Central, a leading provider of technical financial analysis, you can also access free trading Central's proprietary financial research and technical analysis by installing a dedicated plug-in on MT4.
Of course, an economic calendar is also available that allows you to check the predictions and results of key indicators.
Calculation tools such as loss cut, profit and fee are also convenient.
FxPro Campaign Bonus
There is no campaign bonus cash back
Currently, FxPro has not implemented any campaign, deposit bonus or campaign.