FX Pro

September 18, 2023

Trust Score:

4.2

About FX Pro

Overall, FxPro is a well-regulated broker with strong security, advanced trading technology, and a variety of trading platforms to suit different strategies. It is particularly attractive for traders who value bot and API compatibility, as well as those who require multiple platform choices and institutional-grade execution. However, the KYC process can be more detailed than some competitors, and certain trading accounts may have slightly higher spreads compared to ultra-low-cost brokers. While not the absolute cheapest option, FxPro remains a trusted and feature-rich broker that caters well to experienced traders and professionals.

Regulation & Security

FxPro is a well-established broker with a strong reputation in the industry, offering a wide range of trading instruments and platforms. It is regulated by multiple top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Securities Commission of The Bahamas (SCB). These regulatory licenses ensure a high level of fund security, client protection, and adherence to strict financial standards. However, traders under the SCB regulation may experience fewer investor protections compared to those operating under FCA or CySEC jurisdictions. Overall, FxPro provides a safe and well-regulated trading environment, earning high marks for security and trustworthiness.

Account and Setup

The account setup process with FxPro is relatively straightforward but involves a detailed KYC verification process, requiring traders to provide identity and financial suitability documents. While this is standard for regulated brokers, some users may find it more time-consuming compared to brokers with a faster approval process. Onboarding times may vary depending on the trader’s location and the regulatory framework they fall under, but customer support is generally responsive in assisting with account verification. The broker does not have a fixed minimum deposit, but recommended starting amounts depend on the chosen trading account type.

Funding Options

Funding options with FxPro are comprehensive, supporting bank transfers, credit/debit cards, and e-wallets like Skrill, Neteller, and PayPal. Deposits are processed instantly for most methods, while withdrawals typically take one to three business days. The broker does not charge fees on deposits, but some withdrawal methods may incur transaction fees, depending on the trader’s payment provider. While the funding process is smooth, some traders may find the fee structure less favorable compared to competitors that offer completely fee-free transactions.

Bot & API Compatibility

FxPro is highly compatible with bot trading and algorithmic strategies, offering MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and a proprietary FxPro trading platform. These platforms support Expert Advisors (EAs), custom scripts, and advanced trading tools. Additionally, FxPro provides FIX API trading, making it a great choice for high-frequency traders and institutional clients looking for direct market access with low latency. The availability of multiple trading platforms and advanced trading infrastructure makes FxPro one of the most flexible brokers for automated and algorithmic traders.

Trading Conditions& Restrictions

When it comes to trading conditions, FxPro offers competitive spreads and fast execution speeds, with a No Dealing Desk (NDD) execution model that helps reduce slippage and ensure fair pricing. The broker provides access to a broad range of markets, including forex, commodities, indices, cryptocurrencies, and stock CFDs. However, trading fees can vary depending on the chosen platform, with commission-based pricing on cTrader and variable spreads on MT4 and MT5. While the trading experience is professional-grade, some traders may find the spread structure slightly higher compared to low-cost competitors. Additionally, leverage availability depends on regulatory jurisdiction, with higher leverage (up to 1:500) available for non-EU clients but lower limits for traders under FCA and CySEC regulations.

FX Pro Reviews

Level 39, Marina Bay Financial Centre Tower 2,
10 Marina Boulevard, 018983 Singapore.

Risk Disclosures:

Trading or investing, whether on margin or otherwise, carries a high level of risk and may not be suitable for all individuals. Leverage can work against you as well as for you. Before deciding to trade or invest, you should carefully consider your investment objectives, level of experience, and ability to tolerate risk. There is a possibility that you could sustain a loss of some or all of your initial investment; therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and investing and seek advice from an independent financial advisor if you have any doubts. Past performance does not necessarily indicate future results. Tradomatix shall not be held responsible should any losses be incurred. All risk is borne by the software user.

Legal Disclosures:

Having custody of (access to) investor funds is a highly regulated activity. It requires a Capital Markets Services (CMS) License issued by the financial regulatory authorities. Tradomatix does not engage in any activity that involves holding custody of investor funds. Clients have full custody of funds with authorised and regulated liquidity providers. Making investment decisions or placing discretionary trades on clients’ behalf is a highly regulated activity. It requires a Capital Markets Services (CMS) License issued by financial regulatory authorities. Tradomatix does not engage in any activity that involves discretionary trading. All trading decisions are made by client-controlled licensed software, at the discretion and full control of each user. Know-your-customer (KYC) activity is a stringent requirement by financial regulators to ensure all financial activities comply with Anti-Money Laundering Authority (AMLA) regulations. Tradomatix services do not involve conducting KYC checks. This process is performed by authorised and regulated liquidity providers. Tradomatix is an Artificial Intelligent software firm specialising in developing trading software for retail and corporate users, not a financial advisory or fund management firm. Tradomatix does not hold any custody of investor funds or execute discretionary trades on behalf of clients. Tradomatix technology integrates with liquidity providers and fund custodians that are regulated by the Monetary Authority of Singapore (MAS) for corporate users and the Australian Securities and Investments Commission (ASIC) for retail users.

(Shariah-compliant accounts available for our Muslim users)