Max. Leverage
1:30
for Forex

Minimum Deposit
£100
EUR/USD Spread
1.5 pips
Benchmark

FxPro is an online broker that provides trading services for spread betting and CFD trading 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 UK, 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 FxPro United Kingdom
Establishment Date 2006
Website www.fxpro.com
Address FxPro UK Limited, 13-14 Basinghall str., City of London, EC2V 5BQ, United Kingdom
Minimum Deposit £100
Maximum Leverage 1:30
Regulation FCA, CySEC,FSCA
Trading Platforms MT4, MT5, cTrader, and FxPro Edge available on PC, Mac, Web, Android, & iOS
Visit FxPro

FxPro Pros

  • FxPro is regulated in UK
  • Offers 24/7 customer support
  • Supports multiple trading platforms
  • Offers commission-free trading accounts
  • Fast and simple account opening process
  • Free deposits and withdrawals
  • Fast deposits processing
  • Complex trading fees model

FxPro Cons

  • Charges dormant account fees
  • Currently supports on 2 payment methods
  • Has relatively fewer instruments to trade

Is FxPro a good broker?

FxPro is 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 the various regulations of FxPro in different countries below:

1) 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 is also registered with the Financial Services Compensation Scheme (FSCS) which protects clients’ funds of up to £85,000 in the event that the broker is unable to pay up clients.

FxPro UK FCA Regulation

2) 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 CySEC License

3) 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

FxPro Leverage

FxPro operates a variable leverage system, and the leverage on FxPro depends on the instrument you are trading and whether you are a retail or professional client.

Retail clients on FxPro have a maximum leverage of 1:30 for major forex pairs, 1:20 for minor forex pairs, gold, and major indices, 1:10 for minor indices, energies, and metals, and 1:5 for shares.

The maximum leverage on FxPro for Professional clients is 1:500, which is for major forex pairs, other instruments have lower leverages.

FxPro Account Types

FxPro offers five main account types to retail clients, each based on the trading platform that you access the account through, fees, and the order execution type. FxPro Edge CFD, CTrader, MT4, MT4 Instant, and MT5. You can open an individual account on FxPro or as a corporate body.

FxPro also offers Professional Account and VIP Account status to some clients. 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 UK

1) MT4 Account: The FxPro MT4 Account is designed for retail traders and is based on the MT4 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 pip 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 £1,000, the minimum trade size is 0.01 micro-lots, and uses market order execution type for trades.

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) MT4 Instant Account: The FxPro MT4 Instant 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, and shares.

This account doesn’t charge commissions when you open or close trade positions. The spread on this account starts at 1 pip 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 £1,000, the minimum trade size is 0.01 micro-lots, and uses an instant execution type for trades.

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) MT5 Account: The FxPro MT5 Account is also designed for retail traders and is based on the MT5 trading application. It allows you to trade currency pairs, indices, futures, metals, energies, and shares.

You pay no commission fees when you open or close trade positions with this account. Spreads start from 1 pip 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, the minimum trade size is 0.01 micro-lots with market order execution.

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) cTrader Account: The FxPro cTrader Account is also designed for retail traders and is based on the cTrader trading platform. With this account, you can trade currency pairs, indices, futures, metals, energies, and shares.

With the cTrader Account, you pay commission fees for trading forex and metals, while other instruments are commission-free. You pay lower spreads with this account with no minimum spreads. 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 deposit of £1,000 to start trading. The minimum trade size is 0.01 micro-lots, and a market order execution model is used for trades.

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

5) FxPro Edge Account: FxPro’s Edge Account is designed for retail traders and accessed on the FxPro trading platform. You can trade currency pairs, indices, futures, metals, energies and shares with this account.

There are no commission fees when you open or close trade positions with this account. Spreads start at 1 pip for major forex pairs with this account, and swap fees apply when you keep a trade position open past the closing time of the market.

This account requires a minimum deposit of £1,000, and the minimum trade size is 0.01 micro-lots with market order execution. You have negative balance protection with this account, which means you cannot lose more than the amount of money in your trading account.

6) Professional Account: FxPro offers experienced traders Professional Account status, which enables you to trade financial markets with higher leverage of up to 1:500. You can trade forex, indices, energies, metals, futures, crypto currencies, and shares.

This account type can be based on any of the trading platforms, depending on your preference, and the regular spread fees and commissions on such platforms will apply.

Professional Accounts on FxPro require a minimum deposit of £1,000 and a minimum trade lot of 0.01. Professional traders do not have guaranteed negative balance protection, which means you can lose more than the money in your account. You will also not be eligible for any financial compensation in the event that the broker cannot pay up their obligations.

To get a professional account, you have to apply in writing to customer support. To qualify for a professional account, you need to meet at least 2 of the 3 criteria below:

  1. You must have worked in the financial sector for at least 1 year
  2. You must have carried out a minimum of 10 significant transactions each quarter for the past year
  3. You must have a financial instruments portfolio exceeding €500,000

Professional Account on FxPro UK

Note that as a professional trader you can also apply to be recategorized as a retail client, by writing to customer support to downgrade your account.

7) 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 and can be up to $80 per lot each night. Spot indices, futures, and shares have an indefinite grace period.

You can have a swap-free Islamic Account on FxPro as a retail or professional client 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 UK Swap-Free Islamic Account

8) VIP Account: FxPro offers VIP Account status to traders who deposit more than $50,000 or its equivalent in GBP and actively trade large volumes. This applies to all account types and whether you are a retail or professional client.

With the FxPro VIP Account, you get up to 30% discounts on spreads and commissions. You can also use EAs (Expert Advisors) like cBots to trade.

FxPro UK Premium 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 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 and your account type.

The following table shows the average spreads that FxPro charges for major instrument pairs.

Instrument/Pair MT4 MT5 cTrader
EUR/USD 1.51 pips 1.52 pips 0.27 pips
GBP/USD 1.67 pip 1.84 pips 0.38 pips
EUR/GBP 1.69 pips 1.84 pips 0.59 pips
Gold 26.48 pips 27.19 pips 16.88 pips

2) Commission fees: FxPro offers commission-free trading for all instruments on all account types except the FxPro cTrader Account. You do not have to pay any commission fees when you enter or exit a trade position.

FxPro charges commissions on the cTrader account when trading FX & Metals. The commission fee is $45 for every $1 million traded upon opening a position and $45 upon closing the position, making it $90 for a round turn.

When trading a volume less than $1 million, the fee is prorated and you pay a fraction of the $45.

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.

Swap Fees Calculator on FxPro

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, then $5 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.

How to Open FxPro Account in UK?

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 UK Website Homepage

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

Create Account on FxPro UK

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

FxPro UK Profile Information

FxPro Account Address

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

FxPro UK Employment Status

FxPro Trader Financial Status

Trader Experience on FxPro

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 UK Trading Account Setting

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 UK

FxPro Deposits & Withdrawals

Payment methods accepted on FxPro for deposits and withdrawals are bank transfers and Credit/Debit cards. Find an overview of deposits and withdrawals on FxPro UK below:

What is the minimum deposit for FxPro?

The minimum deposit on FxPro is £100. Although the broker recommends i minimum deposit of £1,000 for all account types and both retail and professional clients because it will enable you to open larger trade sizes, you can actually deposit £100 via cards or bank transfers.

While card deposits are credited to your account within 10 minutes while it can take up to 3 business days for bank transfer deposits to be credited to your account.

Note that you can only deposit a maximum of £12,000 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 www.direct.fxpro.uk.

Log in to FxPro

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

FxPro Trading Account Dashboard

Step 3) Choose a payment method.

Deposit Methods on FxPro UK

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 to FxPro

What is the FxPro Minimum withdrawal?

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.

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

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 via www.direct.fxpro.uk.

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 Yes 70 currency pairs on FxPro (15 majors and 55 minors))
Energies Yes 3 spot energies on FxPro (Brent, WTI, and NatGas)
Precious Metals Yes 8 pairs of Metals on FxPro (including Gold, Palladium and Silver)
Indices Yes 19 spot indices on FxPro (AUS200, UK100, Germany40, and others)
Shares Yes 2,126 shares on FxPro (US, UK, French shares and others)
Futures Yes 21 Futures on FxPro (including some indices, agric commodities, and oil)
Cryptocurrencies Yes 29 cryptocurrencies on FxPro*

*FxPro offers cryptocurrency trading to only Professional clients.

FxPro Trading Platforms

Trading platforms supported by FxPro are:

Trading Platforms for FxPro UK

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’s Execution Policy

FxPro states clearly on their website that they are a not an ECN or STP broker. Based on their execution, they are a non-dealing desk (NDD) broker. Ideally, they are either ECN or STP since they are not a market maker. However, their official statement identifies the as neither.

Like any broker, FxPro’s next execution is based on price, costs, speed, and likelihood of execution. FxPro receives a stream of prices from the world’s leading liquidity and data providers. A price aggregation engine detects and quotes the best bid-ask prices. This ensures that you get competitive prices always. In addition, Fxpro does not enforce price requotes. If you do not consent to a price requote, your order will not be executed.

Costs are minimized because FXPro does not execute trades via multiple execution venues. Because of this, no extra clearing or settlement fees are incurred when they execute your orders. Furthermore, FXPro also minimizes trading costs by placing limits on spreads so you do not receive maximum spreads from the wholesale market.

Speed of execution is also a key part of FXPro’s policy. Execution is fully automated except for minimal manual execution. FxPro has multiple servers hosted globally that help them maintain high-speed connections.

FxPro UK Customer Service

FxPro UK offers 24/7 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 24/7. 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 UK Online Support

FxPro Live Chat

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 UK email address for inquiries is [email protected]

3) Phone support: FxPro offers phone support to traders in the UK and you can speak with them toll-free from England. The FxPro phone number is 08000 463 050. You can call the FxPro desk 24/7 to ask any questions you may have.

FxPro Phone Support in UK

Do we Recommend FxPro UK?

FxPro is considered safe in terms of clients’ funds because they are regulated in the UK and registered with the Financial Services Compensation Scheme (FSCS).

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 24/7. 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 is relatively high compared to some brokers.

We recommend that you try FxPro if you want to start trading financial assets. You can visit their website to read up more about them and chat with a customer support agent to help you make up your mind.

FxPro UK FAQs

How long is FxPro withdrawal?

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 in South Africa?

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

How do I trade on FxPro?

To trade on FxPro, you need to open a live trading account. Visit the website of Fxpro at www.fxpro.com and click on the ‘Open Trading Account’ or ‘Register’ button.

Scroll up to follow our simple step-by-step to opening a FxPro trading account.

Can I trade stocks on FxPro?

You can trade over 2,126 stocks on FxPro including US, UK, France, Germany, Portugal, Switzerland, Netherlands, and Belgium stocks.

Visit

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