Admin If you’re interested to learn more about FxPro, check out our full review. It also gives you an opportunity to try out a variety of trading strategies. A key component of trading is testing out trading plans, and the demo account allows you to do exactly that.
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They are also required to keep client funds in segregated accounts, clearly separate from company funds. This means that in the highly unlikely event of FXPro getting into serious financial trouble, any money you have invested with them will be protected. Additionally, the Financial Services Compensation Scheme (FSCS) protects customer deposits up to £50,000 in the UK. CySEC similarly protects investors for up to €20,000 under Cyprus’s Investor Compensation Fund.
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It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
- These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved.
- If you’re interested to learn more about FxPro, check out our full review.
- You can use the FxPro cTrader platform by either downloading the software or logging in via a web browser.
- FxPro has built a good foundation of educational content, yet the quantity and scope of available materials falls behind what is offered by education leaders such as IG, Saxo, and FXCM.
- This is because its MT4 download requires Python 2.7, which is no longer included in the latest macOS releases.
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The contact page on the FXPro website lists details of each department, email and phone number, so that you can be sure of getting through to the right person. The FXPro website can be accessed in 20 languages, a testament to this company’s truly international presence. When depositing funds, payment can be made by using bank transfer or credit and debit cards, including Visa, Visa Electron, Visa Delta, MasterCard, Maestro International and Maestro UK. Withdrawals need to be made using FXPro Direct and typically take one working day.
Download MetaTrader 4 to enjoy the broadest Forex trading opportunities
The MT4 multiterminal allows you to manage positions and execute orders on more than one MT4 account at the same time. There is no risk to your own funds and it will give you a chance to learn and understand how the platform functions and how FxPro as a broker compares against their competitors. Steven Hatzakis is the Global Director of Research for ForexBrokers.com.
Using FXPro MT4: A Traders Guide
For traders that choose to use MetaTrader’s suite of platforms, FxPro offers over 400 CFDs, including forex, shares, indices, metals, and cryptocurrencies, compared to roughly 100 for its cTrader offering. There are also thousands of shares available to trade in FxPro’s BnkPro app, though it isn’t yet fully available globally. The following table summarizes the different investment products available to FxPro clients. FXPro is a pure NDD (no-dealing desk) broker, so you can trade faster and anonymously in forex, commodities, shares, indices and cryptocurrencies using this broker, a feature which will appeal to experienced traders.
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Webinars take place several times a week and need to be registered for in advance. The FXPro dashboard allows you to follow other traders’ moves, among other features, while FXPro Quant is a brilliant proprietary visual strategy builder that allows you to easily create your own expert advisors. This trading tool lets you turn your strategies into trading algorithms that will run on the MT4 platform, with no coding knowledge required. Upload the algorithms to FXPro’s low latency virtual private server and begin automatically trading according to your preferred strategy, 24 hours a day, even when your computer is switched off. Classic calculators include a pip calculator, a margin calculator and a currency converter.
We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Used by millions of traders worldwide since 2005, MT4 is the most popular retail trading platform, chosen by experienced and novice traders alike for its intuitive user interface and powerful trading capabilities. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs.
FXPro is regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus and the Financial Services Board of South Africa. It has also been licensed to operate in the UAE since October 2017 under the Dubai Financial Services Authority. Under the FCA and CySEC’s rules, companies including FXPro must keep a minimum of €730,000 in funds to prove their solid financial standing.
On the down side, there are no bonuses or promotional offers with FXPro, in accordance with its licensing regulations. There are also no guaranteed stops and no vanilla or binary options, meaning that as with all trading platforms you buy and sell with FXPro at your own risk. Not only does it provide beginners with a space to practice trading, it also offers a suite of analysis capabilities for more experienced traders. As an added bonus, it is also compatible with a host of popular third party software such as MT4, MT5 and cTrader. The range of symbols available at FxPro will largely depend on your chosen trading platform.
FXPro has a commitment to full transparency and trade execution statistics, in the form of slippage and requotes data, are published by the company regularly. Client accounts are fully segregated and protected by the rules of its regulators and are held with major banks including Barclays and the Royal Bank of Scotland. FXPro operates a policy of negative balance protection, which should stop xcritical cheating you from going into the red on your forex account. Although it is always possible that you could lose the money you have invested, appropriate margin calls will stop you from losing any more than your initial investment. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process).
As such we may earn a commision when you make a purchase after following a link from our website. All that’s needed now is for you to click create, and you can proceed in downloading your chosen platform. You will go through a few different pages where you will need to provide your name, date of birth, address, employment status and other details concerning your previous trading experience. Use the MetaTrader 5 web platform without downloading or installing any application.
When signing up with FXPro however, be aware that it may take several days before you can start trading. You’ll need to provide a colour scan of your passport, national ID or driving license, and then be able to answer a series of compliance questions to establish your level of trading experience. This can take up to 15 minutes, and then you may have to wait a few days to be approved, although equally you may be approved straight away. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
This web-based version of MT4 is optimised for online use, with improvements including a redesigned layout and real-time risk statistics. MT4 for Mobile comes in Android, iOS and web-based versions and includes rapid trade execution and a user-friendly interface optimised for mobile devices. FXPro clients using MT4 can choose from a fixed spread account with instant execution, a floating spread account with instant execution, and a floating spread account with market execution. As previously mentioned, it is also possible to open a demo account and “try before you buy” with a virtual balance of $500,000. FXPro also offers a VIP premium account for high net worth clients and/or those who are actively trading in large volumes.
Due to the availability of MetaTrader, cTrader, and its own proprietary FxPro Edge web platform, traders at FxPro have a diverse selection of platform options that support a variety of trading styles. While FxPro Edge clearly trails platform leaders such as Saxo, CMC Markets, and IG, it’s a good foundation for future improvements, and helps FxPro stand out from the crowded field of MetaTrader-only brokers. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. As a world leader in the foreign exchange, or forex, sector since 2006, FXPro has an excellent reputation and solid foundations. Regulated by the FCA and the Cyprus Securities and Exchange Commission (CYSEC), FXPro has won over 35 awards in the past decade and has clients in over 150 countries.
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises xcritical companies at the board level and holds a Series III license in the U.S. as https://xcritical.online/ a Commodity Trading Advisor (CTA). FxPro’s pricing is higher than the industry average, putting it at a disadvantage compared to industry peers like Pepperstone or IC Markets, who both also offer the full MetaTrader and cTrader suites. Asktraders is a free website that is supported by our advertising partners.