FxPro is an online CFD and forex broker that has been operating since 2006. The company, with its headquarters in Cyprus, also has offices in the UK, Greece, Russia, Austria and France. The broker is regulated by various financial authorities.
You can trade currencies, commodities, cryptos, futures, stocks and indices via FxPro. In this sense, it can be said that although the product portfolio offered by the company is not very wide, it is sufficient for most investors. In contrast, it has average educational and research tools. You can use a demo account when you are a FxPro customer. But this demo account is not anonymous.
Is FxPro A Safe Broker?
FxPro Group has different subsidiaries. All are regulated by the different financial authority. Among them are top-tier authorities:
- Financial Conduct Authority (FCA)
- Cyprus Securities and Exchange Commission (CySEC)
- South African Financial Sector Conduct Authority (FSCA)
- Dubai Financial Services Authority
- Securities Commission of The Bahamas
According to these authorities, FxPro can be said to be a global broker that gives trust. In addition, the broker provides its customers with negative balance protection. This is a procedure that prevents customers from losing more than they do in their accounts. In contrast, the company is not listed on any stock exchange, it does not have a bank license. And it does not disclose its financial information to the public. These bring negative points for the trust level.
FxPro offers advantageous spreads for customers. And in some trading types, there is no commission. There is also no withdrawal and deposit fees. But if you want to withdraw money without trading, you should pay a maximum of 2.6%. In addition, trading fees are higher than other alternatives. FxPro charges inactivity fees, accordingly, if you do not trade for a year, you will start to pay $ 5 per month. You will also pay a dormant account fee of $ 15.
The minimum initial deposit limit is $ 100. Apart from traditional methods such as bank transfer and credit card for deposit, PayPal, UnionPay, Neteller, Skrill and electronic wallet options are also available. But these options may vary depending on the location of the customers.