FxPro forex broker review
FxPro is a company that provides complete service with a management team of only six members. Larger does not necessarily means success when forex-trading agencies are involved. FxPro Company won awards from the magazine of World Finance. This petite company provides the same broker services as bigger trading agencies. It offers outstanding customer service, which makes it very popular among all the traders.
Fx Pro General Details
FxPro broker is a forex trading company that provides complete services and a number of instruments concerning finances, such as foreign exchange, metals, futures, index on stocks. The company was established as EuroOrient Securities & Financial Services Ltd in 2006. A special group of experienced and devoted financial specialist came up with the idea for its foundation. The company then became FxPro – Financial Services Ltd, and today it provides services to clients in over 120 countries across the world. FxPro has locations in Russia, Austria, Greece, France, and United Kingdom, and the workers usually volunteer in their particular area. The company is very proud of its culture of shared interactive responsibility.
FXPro is a broker of Forex, which supplies both novice and professional traders. An advantage that makes this brokerage different is that the leverage the brokers can place is from1:1 to 1:500, to minimize the risks of the market or to capitalize on them. This really depends on the traders preferences. In addition, you can try out the demo account that presents real conditions of trading and then choose whether to invest with FX Pro. Rea all the details of FX Pro and decide if it is the right thing for you.
Established in: 2007
Centre of operations: Limassol, Cyprus
Lowest leverage: 1:500
Lowest deposit: $500
Lowest deal size: 10,000
Languages available: German, English, Arabic, Spanish, Chinese, Italian, French, Vietnamese, Magyar, Japanese
Regulation: FSA, MiFid, ASIC, CySec
Denis Sukhotin is a partner and a director of management team of FxPro company. World Finance magazine declared his company as the Best Forex Broker in Europe, in 2009.
The Cyprus Securities body and Exchange Commission or the CySEC is a directing and managerial authority for the financial services trade in in Cyprus. This authority regulates the company of FxPro.
FxPro acts under MiFID (Markets in Financial Instruments Directive) Regulated Markets Law of 2007, Cypriot Investment Services and Activities. MiFID was adopted Cypress in 2007. It offers management of investment companies, which are functioning under the European Economic Area.
At https://www.fxpro.com/licenses.html, you can find links to policies, licenses, and procedures adopted under MiFID outlines. The company is entitled to function internationally because it owns a cross-border license. It is a member of many various organizations like:
o Cyprus International Financial Services Association (CIFSA),
o Cyprus Chamber of Commerce and Industry (CCCI), and
o Cyprus Financial Services Firms Association (CFSFA)
As we can see in FxPro review, Fx Pro provides spreads from 0.5 pips GBP /EUR, 0.8 pips USD/EUR, and 0.8 pips USD/GBP, under the standing conditions of trading. Spread expansion is not possible during the process of news releases. It also supports trading capacity from 10k (0.1 lot) and a fifth digit is included in currency quotes in order to accurately display even minor marketplace shifts.
Leverage-margin necessities are as follows:
• 1:1 up to 1:500 for Forex
• fixed for CFD futures
• 10 % for CFD shares
• 2 % for Spot precious metals
FxPro completely supports both trailing stops and MT4 specialist advisors. It is easy to influence the initiating stops using a toolbar, which you can access through your account page.
FxPro Trading Information
FxPro is a company that provides an abundance of favourable conditions and options for both practiced and trainee traders. It offers few effective and approved trading platforms like the iPhone, MT4 Standard, Mobile PDA SmartPhone, MT4 MultiTerminal, and WebTrader.
About the Account Deposit
The initial deposit amount demanded to open an account with FxPro is $500. Deposits and drawing out the funds can be made through many options like bank wire transfers:
-Visa, Visa Delta and Visa Electron;
-Maestro UK and Maestro International;
-Neteller, PayPal, and Skrill (former moneybookers payment service)
All of the options can be used with no incurring fees from FxPro.
Opening an account is a plain action that can be finished in few minutes. There are several steps that you need to follow:
You need to fill an application form and provide your email address you want to have related to the account.
The account activation is the second step. By clicking on the fxpro website link you will find at the email address you have provided, you automatically activate the account
Next, you will set up your password and check the email for trading acceptance
Log in to your account
Upload necessary files like personal ID and address proof
Deposit the money
Apart from full-service accounts, FxPro provides a demo account in order to provide the client with a chance to make a thorough research of available options through FxPro. Beginner traders are inspired to the currency trading world with a $100,000 unlimited forex demo account. They have the opportunity to learn new abilities and improve their current knowledge. Free demo provides potential clients to test their tactics through real-time quotes and current market conditions. Analytic charts and other tools are available to use so you can feel fine in the currency sphere of trading.
With a demo account of FxPro, you can follow the progress of both short-term and long-term methods with no obligation. All active accountholders use the same charts and other analytic tools of the demo account, which means that novice traders have a chance to understand how a real marketplace would in fact function.
FxPro keeps going a counter that quotes and tracks prices (ensuring the prices are competitive), watches spreads, provides the latest forex news and trading analysis, maintains system activities, and offers customer service.
FX Pro traders can relax knowing that the assistance from the broker is available only phone call away, with their bases for customer support in 22 countries. FX Pro provides customer support 5 days a week, from 11 pm on Sunday to the Friday at midnight.
Contact Us page of FX Pro is something special, with various boxes where you can find email and the phone number of each department, so you can relax assured your question will get to the right place.
We tested how long it would take to get a reply to an email, and we received a response within 20 minutes. It is the quickest response we have received from any broker of Forex. In addition, the chat services are reliable as well.
FxPro offers numerous trading platforms and thriving features, joint with demo account providing a great experience. FxPro is a great possibility for both inexperienced and skilful investors.
Customer service of FX Pro is one of the best of all Forex brokers, but we experienced certain issues using their services. It is important to mark that the customer service team of FX Pro was capable to provide assistance concerning most issues. This action enhanced our general experience.
Signing up for both real and demo FX Pro accounts is not complicated at all. One can notice that if any information was imprecise during the registration, the form automatically passes to the correct part. Therefore, you will save time not looking for the incorrect information. However, you need to complete several steps to confirm both real and demo accounts and we think it is a bit frustrating. At the beginning, we got an email that contains a confirmation link. After the account confirmation, another email came with new login details. We were not able to comprehend why we had to provide a password, which was discredited later, or why we received unfamiliar login details.
Another thing that was annoying is that the confirmation email included a Profile ID and an Account Number. We were required to provide the Login when we attempted to login. So, we were unable to decide which of the codes we received we had to provide.
The positive thing is that when setting up a demo account, you could select the currency, the leverage, and the amount, in order to demonstrate real trading conditions. You can deposit the funds through wire transfer, credit card, PayPal, Neteller and Moneybookers. You can begin and choose the right way for you.
FX Pro Company opened an Australian brokerage branch in November 2001 and the total trading for the first six months of 2001 is around $589 billion. This is the proof of progressive growth of the company. ASIC, Investment Commission, and the Australian Securities regulate the Australian branch.