FxPro Review 2024: Comprehensive Look at a Leading Forex Broker

FxPro continues to be one of the top choices for forex and CFD traders in 2024. With over 15 years of experience in the market, FxPro has built a solid reputation for reliability, innovation, and a customer-first approach. In this review, we’ll take a closer look at the features, platforms, pricing, regulation, and customer support FxPro offers in 2024, helping you determine if it’s the right broker for your trading needs.

Overview of FxPro

FxPro is a globally recognized online forex broker, providing a wide range of trading services for retail and institutional traders. The broker is known for offering access to over 70 currency pairs, along with CFDs on futures, indices, shares, metals, energies, and cryptocurrencies. With a focus on transparency and security, FxPro operates under strict regulatory standards, making it a trusted platform for both beginner and advanced traders.

Key Features

• Established Broker: FxPro has been in operation since 2006 and has garnered over 100 industry awards.
• Regulation: FxPro is regulated by multiple top-tier authorities including the FCA (UK), CySEC (Cyprus), FSCA (South Africa), and SCB (Bahamas), ensuring high levels of safety for traders.
• Multiple Platforms: Traders have access to MetaTrader 4, MetaTrader 5, cTrader, and FxPro’s proprietary trading platform.
• Diverse Asset Classes: Offers trading in forex, stocks, indices, metals, energies, and cryptocurrencies.
• Competitive Spreads: FxPro provides variable spreads with no dealing desk intervention.
• Execution Speed: Ultra-fast execution speeds with an average of less than 14 milliseconds.
• Leverage: Offers flexible leverage, ranging from 1:1 to 1:200 (depending on asset and regulation).

Trading Platforms

1. MetaTrader 4 (MT4)

MetaTrader 4 remains a popular platform for traders in 2024, offering robust charting tools, automated trading (Expert Advisors), and a wide range of indicators. FxPro provides seamless access to MT4 with competitive spreads and fast execution, making it ideal for forex traders.

2. MetaTrader 5 (MT5)

For those looking for more advanced features, MT5 offers additional timeframes, more order types, and in-depth market analysis tools. It is well-suited for both forex and CFD trading.

3. cTrader

cTrader is known for its user-friendly interface, especially for those focused on manual trading. The platform provides a detailed level of market depth and innovative charting features. Traders who prefer direct market access (DMA) often favor this platform.

4. FxPro Edge

FxPro’s proprietary platform, Edge, is a web-based solution designed for simplicity. It allows traders to place trades quickly without needing to download any software. This platform is particularly useful for new traders or those who need a lightweight, accessible solution.

Account Types

FxPro offers a variety of account types to suit different trading styles and requirements:

1. Standard Account

• Spreads: From 1.4 pips
• Minimum Deposit: $100
• Commission: No commission on forex trades
• Leverage: Up to 1:200

2. MT4/MT5 Account

• Spreads: From 1.4 pips
• Commission: No commission on forex and CFDs
• Minimum Deposit: $100
• Leverage: Up to 1:200

3. cTrader Account

• Spreads: From 0 pips
• Commission: $45 per $1M traded
• Minimum Deposit: $100
• Leverage: Up to 1:200

4. VIP Account

• Tailored for high-volume traders
• Lower spreads and commissions
• Dedicated account manager

Spreads and Fees

FxPro offers competitive pricing, especially for forex pairs. The broker provides variable spreads that change according to market conditions. On average:

• Major Forex Pairs: Spreads start from 1.4 pips on MT4/MT5 accounts and as low as 0 pips on cTrader accounts (plus commission).
• Commodities & Indices: Spreads are competitive but vary based on the instrument.

Deposit & Withdrawal Fees

FxPro does not charge fees on deposits or withdrawals, although your payment provider may. Supported payment methods include credit/debit cards, bank transfers, and popular e-wallets like PayPal, Skrill, and Neteller.

Regulation & Safety

FxPro is one of the most well-regulated brokers, operating under licenses from:

• FCA (UK): Ensuring high levels of transparency and security for UK-based clients.
• CySEC (Cyprus): Protecting European clients with investor compensation schemes.
• FSCA (South Africa): Compliance with South African financial laws.
• SCB (Bahamas): Broad international regulatory coverage.

All client funds are segregated in top-tier banks, ensuring security in the event of insolvency. Additionally, FxPro participates in investor compensation schemes, offering further protection.

Customer Support

FxPro provides multilingual support 24/5 via live chat, email, and phone. The broker has earned high praise for its responsive and knowledgeable support team. Traders also have access to an extensive knowledge base with educational articles, webinars, and tutorials.

Educational Resources

FxPro offers comprehensive educational materials that cater to both beginners and experienced traders. In 2024, the broker has expanded its educational offerings with:

• Webinars and Video Tutorials: Covering everything from forex basics to advanced trading strategies.
• Economic Calendar: Helping traders stay updated on global events that can impact the markets.
• Market Analysis: Regular reports from FxPro’s in-house analysts, providing insights into major forex pairs, indices, and commodities.

Pros & Cons of FxPro 2024

Pros:

• Highly regulated across multiple jurisdictions.
• Multiple platforms to suit different trading styles.
• Wide range of assets including forex, commodities, indices, and cryptocurrencies.
• Competitive spreads with fast execution times.
• Excellent customer support and educational resources.

Cons:

• Limited leverage for European clients due to regulatory restrictions.
• No cent account, which may be preferred by some beginners.
• cTrader accounts have a commission, though the spreads are tighter.

Is FxPro Worth It in 2024?

FxPro remains a strong contender for traders of all levels in 2024. Its well-rounded offering of multiple platforms, a wide variety of tradable instruments, and excellent customer support make it ideal for anyone looking for a reliable and secure trading environment. Whether you’re a beginner or a seasoned professional, FxPro provides the tools and resources necessary to trade effectively in today’s markets.