Max. Leverage
1:2,000
for Forex

Minimum Deposit
MYR 200
EUR/USD Spread
1.7 pips
Benchmark

FxPro is an online broker that provides trading services for CFDs on forex pairs, indices, metals, stocks, energies, and futures via the MT4, MT5, and cTrader trading applications.

FxPro was established in 2006 and is regulated in the UK by the FCA (Financial Conduct Authority) and other top-tier financial regulators like CySEC (Cyprus Securities & Exchange Commission) and FSCA (Financial Services Conduct Authority) in South Africa.

In our review of FxPro, we examine the fees, deposits/withdrawal options, trading conditions, account types, account opening process, tradeable instruments, and customer support of the broker.

FxPro Review Summary
🏢 Broker Name Prime Ash Capital Limited
📅 Establishment Date 2006
🌐 Website www.fxpro.com
🏢 Address FxPro Global Markets Ltd, Albany Financial Center, South Ocean Boulevard, New Providence, The Bahamas
🏦 Minimum Deposit MYR 200 or $100
⚙️ Maximum Leverage 1:2,000
📋 Regulation FSCM, FCA, CySEC,FSCA, SCB
💻 Trading Platforms MT4, MT5, cTrader, and FxPro Edge available on PC, Mac, Web, Android, & iOS
Visit FxPro

FxPro Pros

  • Licensed by tier-1 Regulators
  • Offers commission-free trading accounts
  • Supports multiple trading platforms
  • Free deposits and withdrawals
  • Has MYR account currency
  • Has negative balance protection

FxPro Cons

  • Charges dormant account fees
  • Has relatively fewer instruments to trade
  • Do not ffer 24/7 customer support

Is FxPro a good forex broker?

FxPro is considered a good broker because they are regulated in multiple jurisdictions by Tier 1 and Tier 2 financial regulators. This means that clients’ funds are safer and the risk of fraud is lower because they have to comply with the regulations.

Find various regulations of FxPro in different countries below:

1) Securities Commission of The Bahamas (SCB): FxPro is authorized and licensed in The Bahamas by the SCB. They are registered as FxPro Global Markets Ltd under the Securities Investment Act, making the broker an SIA registrant. Their SIA license number is SIA-F184.

Traders from Malaysia are registered under this license.

Note that because the broker is not regulated in Malaysia, the consumer protection rules of the offshore regulation may not cover traders in Malaysia. Therefore, trading with this broker is at your own risk.

2) Financial Conduct Authority (FCA): FxPro is regulated by the FCA as ‘FxPro UK Limited’ and authorized to offer financial services in the UK, with reference number 509956, issued in 2010.

FxPro FCA License

3) Cyprus Securities and Exchange Commission (CySEC): FxPro is regulated by CySEC as ‘FXPRO Financial Services Ltd’ and licensed to offer investment services in Cyprus and other European Union countries, with license number 078/07, issued in 2007. FxPro serves clients in EEA (European Economic Area) with this license.

FxPro Europe License

4) Financial Sector Conduct Authority (FSCA), South Africa: FxPro is authorized in South Africa by the FSCA as ‘FxPro Financial Services Ltd’ and licensed as a financial services provider (FSP), with FSP number 45052, issued in 2015.

FxPro Authorisation by FSCA

5) Financial Services Commission (FSC) Mauritius: FxPro is registered and regulated in Mauritius by the FSC in the Republic of Mauritius under the name Prime Ash Capital Limited as an investment dealer.

FxPro License Malaysia

FxPro Investor Protection

Client Country Protection Regulator Legal name
UK £85,000 Financial Conduct Authority (FCA) FxPro UK Limited
EEA Countries €20,000 Cyprus Securities and Exchange Commission (CySEC) FxPro Financial Services Ltd
South Africa No Protection Financial Sector Conduct Authority (FSCA) FxPro Financial Services Ltd
The Bahamas No Protection Securities Commission of The Bahamas (SCB) FxPro Global Markets Ltd

With FxPro, you cannot lose more than your initial deposit. Negative balance protection is provided for all UK clients. In addition, UK clients can have their money protected up to £85,000 via the Financial Services Compensation Scheme (FSCS). This means your money is protected should FxPro go bankrupt.

Traders in Malaysia are registered under FxPro’s regulation in the Bahamas. There is no compensation fund arrangement with the SCB. However, negative balance protection is provided in accordance to the SCB rule book for CFDs. It says “the liability of a retail client for all CFDs connected to the retail client’s account is limited to the funds in that account.” Simply put, you cannot lose more than the money you have in your account.

FxPro Leverage

FxPro operates a variable leverage system, and the leverage on FxPro depends on the instrument you are trading and the size of your trade.

Clients on FxPro have a maximum leverage of 1:2,000 which applies to some pairs. With a leverage of 1:2,000, you can open a trade position worth 2,000 times your deposit. With a deposit of $100, you can open a trade position worth $200,000.

Note that your maximum leverage on FxPro of 1:2,000 applies to major forex pairs, and leverage generally becomes less as you open more lots. See a breakdown of the leverage limits applicable to clients in Malaysia below.

Leverage on FxPro Malaysia

It is important for you not to use all the leverage available because it will increase the risk of losing your money. It is best to avoid trading CFDs and leveraged products unless you understand it and have experience.

FxPro Account Types

FxPro offers 4 account types to retail clients, each based on the trading platform that you access the account through, fees, and the order execution type. You can open an individual account on FxPro or as a corporate body.

Swap-free Islamic Accounts are available for Muslim traders, and beginners can open demo accounts to practice trading before putting real money on the line.

Find an overview of the various account types on FxPro below:

Account Types on FxPro Malaysia

1) Standard Account: The FxPro Standard Account is designed for all traders and can be accessed on the MT4 & MT5 trading application. You can trade forex pairs, indices, futures, metals, energies, and shares.

This account is spread only and you do not pay any commissions when you open or close trade positions. Spreads start from 1.2 pips for major forex pairs and you pay swap fees whenever you keep a trade position open past the closing time of the market.

This account requires a minimum deposit of $50 (MYR 165), the minimum trade size is 0.01 micro-lots with maximum leverage 1:500.

You have negative balance protection with this account, which means you cannot lose more than the amount of money in your trading account if a trade position is unsuccessful.

2) Pro Instant Account: The FxPro Pro Account is also a retail trading account type based on the MT4 trading application. It allows you to trade currency pairs, indices, futures, metals, energies, futures, cryptocurrencies and shares.

This account doesn’t charge commissions when you open or close trade positions. The spread on this account starts at 0.6 pips for major forex pairs, and you’ll pay a swap fee whenever you keep a trade position open past the closing time of the market.

This account requires a minimum deposit of $500 (MYR 1,650), the minimum trade size is 0.01 micro-lots with maximum leverage 1:888.

You have negative balance protection with this account, which means you cannot lose more than the amount of money in your trading account if a trade position is unsuccessful.

3) Raw+ Account: The FxPro Raw+ Account is also designed for traders who want to pay lower spreads on trades. This account can be accessed on the MT4 trading application. It allows you to trade currency pairs, indices, futures, metals, energies, futures, cryptocurrencies and shares.

You pay commission fees when you open or close trade positions with this account starting from $3.50 for every $1 million traded of forex and metals while other instruments are commission-free. Spreads start from 0.0 pips for major forex pairs, and you pay swap fees when you keep a trade position open past the closing time of the market.

This account requires a minimum deposit of $1,000 (MYR 4,450), and the minimum trade size is 0.10 micro-lots with maximum leverage of 1:2,000.

You have negative balance protection with this account, which means you cannot lose more than the amount of money in your trading account if a trade position is unsuccessful.

4) Elite Account: The FxPro Elite Account is also designed for experienced traders who trade large volumes. This account can be accessed on the MT4 trading platform. With this account, you can trade currency pairs, indices, futures, metals, energies, futures, cryptocurrencies and shares.

With the Elite Account, you pay commission fees of $3.50 per side lot for trading forex and metals, while other instruments are commission-free. You pay lower spreads with this account starting from 0.0 pips. You also pay swap fees when you keep a trade position open past the closing time of the market.

This trading account requires a minimum balance of $30,000 (MYR 98,800) to start trading. The minimum trade size is 0.10 micro-lots, with maximum leverage of 1:2,000.

The Elite Account on FxPro also offers cash rebates of $1.5 per lot traded.

This account type also has negative balance protection, which means you cannot lose more than the amount of money in your trading account.

5) Islamic Account: FxPro offers Islamic Accounts to Muslim traders that are in compliance with sharia law. These accounts are swap-free (interest-free), which means they do not pay any rollover fees for keeping a trade position open during the closing time of the market within a grace period.

Although the FxPro Islamic Account is swap-free, you start to pay fixed swap fees per lot each night after keeping a trade position open consecutively past the market closing time beyond the grace period days.

The grace period days vary based on the instrument being traded and start from 1 day for energies spot, 3 days for metals, crypto assets, and minor forex pairs, and can be up to 8 days for major forex pairs.

The fixed swap fees start from $7.50 (MYR 33.5)and can be up to $80 (MYR 357.4) per lot each night. Spot indices, futures, and shares have an indefinite grace period.

You can get a swap-free Islamic Account on FxPro by sending an application to customer support via email. You will be required to submit some documents before your application is approved.

Note that a swap-free Islamic Account is not supported with the MT5 Account type.

FxPro Swap-Free Islamic Account

FxPro Base Account Currency

You can choose from 7 currencies when signing up to serve as your account base currency on FxPro. Your trades, deposits, profits, and withdrawals will be measured in your base account currency.

The available currencies are Australian Dollars – AUD, Swiss Franc – CHF, Euros – EUR, British Pound sterling – GBP, Japanese Yen – JPY, Polish Zloty – PLN, and the United States Dollar – USD.

FxPro does not offer MYR (Malaysian Ringgit) as currency, but you can deposit funds in MYR using the local bank transfer option, and your funds will be converted to your chosen account currency.

FxPro Overall Fees

FxPro charges different fees depending on the instrument you trade size and whether you are a retail or professional client or have VIP account status. Here’s an overview of the broker’s trading and non-trading fees.

Trading fees

1) Spreads: FxPro charges spread fees whenever you trade a financial instrument on the platform. Spreads are the difference between the ask and bid prices of the tradeable instruments and serve as revenue for the broker. Spreads on FxPro depend on the instrument you are trading, the trading platform you are using and your account type.

The following table shows the average spreads that FxPro charges for major instrument pairs as of April 2023.

Instrument/Pair MT4 MT4 Raw+ MT5 cTrader
EUR/USD 1.70 pips 0.46 pips 1.99 pips 0.57 pips
GBP/USD 2.18 pip 0.77 pips 2.92 pips 0.83 pips
EUR/GBP 1.54 pips 0.55 pips 2.33 pips 0.84 pips
Gold 40.74 pips 31.82 pips 33.22 pips 35.41 pips

*Note that the spread fees on the platform changes during trades and are updated automatically. The figures above are for reference purposes only.

2) Commission fees: FxPro offers commission-free trading for all instruments on the FxPro Standard & Pro Accounts. You do not have to pay any commission fees when you enter or exit a trade position.

FxPro charges commissions on the Pro and Elite accounts when trading FX & Metals. The commission fee is $3.50 (MYR 12) per per lot (100,000 units) traded upon opening a position and $3.50 (MYR 12) upon closing the position, making it $7 (MYR 24) for a round turn.

When trading a volume less than 1 lot (100,000 units), the fee is prorated and you pay a fraction of the $3.5 (MYR 12).

3) Swap fees: The market closing time on FxPro is 9:59 PM UK time. If you keep a trade position open past this time, you will incur rollover fees also called swap fees or overnight funding costs. This fee will be added to your profit or loss when you close the position.

Swap fees on FxPro are calculated based on the size of your trade, the spread cost of the trade, the prevailing swap rate, the number of days you keep it open, and whether your position is a buy (long) or sell (short). No swap fees are charged on futures contracts.

You can calculate the cost of a swap by using the Cost Calculation Tool on the ‘Tools’ page of the FxPro website.

Non-trading fees

1) Deposit and Withdrawal fees: FxPro offers free deposits and withdrawals. You do not pay any fees when you deposit funds to your account or withdraw from it. This applies to all account types and payment methods.

2) Account Inactivity charges: If you do not perform any trade on your account for 6 months, your account will be categorized as inactive and any balance in your account will be charged a one-time fee of $15 (MYR 67), then $5 (MYR 22.3) monthly subsequently. If you do not have any funds in your account, no negative will accumulate on the account.

If your account remains inactive for 6 years and the broker is unable to reach you, any funds in the account will no longer be considered clients’ funds and will be given to charity or used for any such thing as the broker deems fit.

Fee Amount
Inactivity fee $15 (one-time), $5 (monthly)
Deposit fee None
Withdrawal fee None

How to Open FxPro Account in Malaysia?

Follow these steps to open a trading account on FxPro.

Step 1) Visit the website of Fxpro at www.fxpro.com and click on the ‘Open Trading Account’ or ‘Register’ button.

FxPro Malaysia Website Homepage

Step 2) Fill out your name and email, create a password then click on ‘Register’.

Create Account on FxPro

Step 3) Provide your date of birth, phone number, and address then click ‘Save and Continue’.

FxPro New Account

Step 4) Answer some questions about your employment status, education level, financial information, and trading experience.

Financial Status on FxPro

FxPro Account Opening

Step 5) Choose your preferred trading platform, set maximum leverage, and select your base account currency, then check the privacy policy and client agreement and ‘Save and Continue’ to proceed with your account registration.

FxPro Leverage

Step 6) Upload verification documents like ID Card for identity and utility bill or bank statements for address. This will enable the broker to verify your account.

Upload Documents to FxPro

FxPro Deposits & Withdrawals

Payment methods accepted on FxPro for deposits and withdrawals are bank transfers, e-wallets like Skrill & PayPal and Credit/Debit cards. Find an overview of deposits and withdrawals on FxPro below:

FxPro Deposit Methods

Here is a summary of payment methods accepted by FxPro for deposits.

Deposit Methods Availability Charges Processing time
Internet Banking/Bank Wire Transfer Yes Free 1-3 business days
Cards Yes Free Within 10 minutes to 1 hour
E-wallets Yes Free Within 10 minutes to 1 hour

FxPro Withdrawal Methods

Here is a summary of payment methods for withdrawals accepted on FxPro.

Withdrawal Methods Availability Charges Processing time
Internet Banking/Bank Wire Transfer Yes Depends on the amount of withdrawal, fee can be seen on withdrawal page. 1-2 business days
Cards Yes Free 5-7 business days
E-wallets Yes Free 1-7 business days

What is the minimum deposit for FxPro?

The minimum deposit on FxPro is MYR 200 via local bank trasnsfer. Although the broker recommends a minimum deposit of $1,000 (MYR 4,450) because it will enable you to open larger trade sizes, you can actually deposit US$100 (MYR 445) via cards. Local banks supported by FxPro for deposits in Malaysia are Maybank, CIMB Bank, Hong Leong Bank and Public Bank.

Note that you can only deposit a maximum of $20,000 (MYR 89,350) per transaction via card. Bank transfers have no maximum deposit amount.

How do I deposit money into FxPro?

Follow these simple steps to deposit funds into FxPro Account:

Step 1) Log in to your FxPro dashboard via direct.fxpro.group/en/login.

Login to FxPro

Step 2) Click on the ‘Wallet’ tab on the left side menu, then select ‘FUND’.

FxPro Client Portal

Step 3) Choose a payment method.

FxPro Deposit Methods

Step 4) Select the currency you want to deposit and enter the amount, then click ‘Fund’ and follow the on-screen instructions to complete your deposit.

Deposit Funds to FxPro with MYR

What is the minimum withdrawal on FxPro?

There is no mandatory minimum withdrawal amount on FxPro. Although if you are withdrawing funds via card, you can only withdraw as much as you have deposited via the card, while withdrawals by bank transfers have no maximum amount.

How to Withdraw Funds from FxPro

Follow these simple steps to withdraw money from your FxPro Account:

Step 1) Log in to your FxPro dashboard.

Step 2) Click on the ‘Wallet’ tab on the left side menu, then select ‘WITHDRAWAL’.

Step 3) Choose a withdrawal method and follow the on-screen instructions to complete your withdrawal.

FxPro Trading Instruments

You can trade over 2,000 financial instruments on FxPro, find a breakdown of the instruments below:

Instrument Availability Number
Forex CFDs Yes 70 currency pairs on FxPro (15 majors and 55 minors))
Energies CFDs Yes 3 spot energies on FxPro (Brent, WTI, and NatGas)
Precious Metals CFDs Yes 14 pairs of Metals on FxPro (including Gold, Palladium and Silver)
Indices CFDs Yes 19 spot indices on FxPro (AUS200, UK100, Germany40, and others)
Shares CFDs Yes 2,126 shares on FxPro (US, UK, French shares and others)
Futures CFDs Yes 21 Futures on FxPro (including some indices, agric commodities, and oil)
Cryptocurrencies CFDs Yes 28 cryptocurrencies on FxPro (including BTC, LTC and others paired to USD)

FxPro Trading Platforms

Trading platforms supported by FxPro are:

Trading Platforms for FxPro Malaysia

1) MetaTrader 4 and MetaTrader 5: FxPro supports the MT4 and MT5 trading applications for trading financial markets. This is available on the web, desktop, and mobile devices (Android & iOS).

2) cTrader: You can also trade financial markets on FxPro with the cTrader platform, which has the web trader, desktop trader, and mobile app versions on Apple App Store and Google Play Store.

3) FxPro Edge: This is the proprietary FxPro trading platform, developed by Fxpro for trading financial markets. The FxPro Edge has web trader and mobile app versions for Android and iOS.

FxPro Malaysia Customer Service

FxPro offers 24/5 online customer support to traders via the following channels:

1) Live chat support: The FxPro live chat can be accessed on the ‘Contact Us’ page of the FxPro website and is available 24/5. When our team tested the online live chat support, we got a response as soon as we started the chat and there was no wait time.

When you start the chat you will be required to provide your email address and name. FxPro uses no chatbot, the live agents respond quickly and the answers to our questions are relevant.

FxPro Online Support

2) Email support: FxPro offers email support to traders. When we tested the FxPro email support, we got an autogenerated reply acknowledging our inquiry and then received a reply from a customer support representative 20 minutes later.

The FxPro email address for inquiries is [email protected].

3) Phone support: FxPro offers phone support to traders, and you can request a call back from the global office. This channel is also available 24/5.

FxPro Phone Support

Do we Recommend FxPro Malaysia?

FxPro is considered safe in terms of clients’ funds because although they are not licensed in Malaysia, they are regulated by top-tier regulators in the UK, Cyprus, and South Africa.

The fees on FxPro are also moderate as you can trade commission-free on all instruments with some account types. If you trade large volumes, you can become a VIP client and have discounts on the fees. You can also apply for a professional account to access more leverage and trade crypto assets.

FxPro’s customer service is responsive on all channels and available 24/5. The account opening process is fast and simple, and the broker’s website is easy to navigate and contains up-to-date information about the company and its trading platforms/conditions.

The broker is also good for beginners as you have negative balance protection, although the minimum deposit of $100 (MYR 445) is relatively high compared to some brokers.

We recommend that you FxPro website to read up more about them and chat with a customer support agent to help you make up your mind.

FxPro Malaysia FAQs

How long does it take to withdraw from FxPro?

Withdrawal requests on FxPro are processed within 1 working day and may take 3 to 7 days to receive funds for card withdrawal and about 2 working days for withdrawals to local bank accounts.

Is FxPro regulated?

FxPro is not regulated in Malaysia. But FxPro is regulated in South Africa by the FSCA (Financial Services Conduct Authority), FCA in UK, and with CySEC. So we consider them a moderate risk brokers for Malaysian Traders. Traders in Malaysia are registered under their regulation in Mauritius by the FSC.

What are FxPro trading fees?

Trading fees charged by FxPro are spreads, which start from 0.1 pips to an an average of 1.5 pips. Spreads apply to all accounts. FxPro charges commissions of $3.5 pers side lot on the Elite and Raw+ Accounts.

Is FxPro a legit company?

FxPro can be trusted because the FxPro Group is regulated by top-tier financial regulators in multiple jurisdictions, including the Financial Conduct Authority (FCA) in the United Kingdom which is a Tier-1 regulator and the Cyprus Securities and Exchange Commission (CySEC) in Europe, which is a Tier-2 regulator. The various regulations mean that the broker is obligated to protect clients funds and interest.

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