In this Broker Review, ForexInfoBook team presents factual information about FXPro broker regulations, trading conditions and advantages of trading with them.
- FxPro UK Limited is regulated by the Financial Conduct Authority : Registration number 509956.
- FxPro ia also regulated by financial agencies in Dubai, South Africa and Cyprus.
FxPro UK client funds are held in accordance with client money rules, in client segregated accounts with a top tier bank. Funds held with FxPro UK by retail clients will be covered by the Financial Services Compensation Scheme. More information on the FSCS is available here.
In case of other FxPro offices (nor regulated by FCA UK), all client funds are segregated from operating capital in Tier-1 accounts with major global banks. There is no compensation for client deposits in case of company bankruptcy. However, traders have little to worry since FxPro is a very reputed company and is regulated by reasonable good financial agencies. The main advantage you get by choosing non-FCA regulated accounts is higher leverage.
Negative Balance Protection
FxPro offers protection against negative balances and guaranteed stops.
With FxPro, retail traders cannot to lose more than the funds they have in their account. In the rare scenario where a market move puts the client in a negative balance position, FxPro will refund the difference in a “Negative Balance Adjustment” and set the balance to zero.
FxPro UK retail clients get the greatest protection with rules and regulations imposed by the Financial Conduct Authority (FCA) and the European Securities and Markets Authority (ESMA). Retail Client has Negative Balance Protection (NBP) meaning they cannot lose more than they have deposited with a broker.
True Non Dealing Desk Execution Model
FxPro uses STP (Straight-Through-Processing) technologies for trade execution. However, they classify their trade execution as TRUE Non Deal Desk (NDD) based on their method of execution.
FxPro assures traders of guaranteed fills with 88% of trades filled at requested price or better. As per 2018 reports on execution, less than 1.4% of trades had re-quotes. Trades are executed at FxPro Equinix Data centers in either LD5 London or Amsterdam.
Account with FxPro Global Markets can get a maximum leverage of 1:500 on Forex pairs.
Leverage on FxPro UK accounts will be restricted to a max of 1:30 as per ESMA regulations and at 1:50 for accounts regulated by MENA.
Low Spreads and Commissions
FxPro provides competitive spreads with out charging a commission on the trades. This means higher spreads will be seen as compared to other ECN or STP brokers who offer ultra low spreads, but will be charging a commission on each trade.
The typical spreads on major pairs provided FxPro is about 2.0 pips – No commission charged on trades. Click here to check spreads on all Forex pairs and other instruments.
Ease of Operations
- Non-Expiring demo accounts
- Simple account opening process
- Minimum deposits as low as $ 1
- Offers Islamic Account (Swap free)
FxPro has been operational since 2005 and is a highly reputed company. They provide excellent educational resources for enabling traders improve their skills.
FxPro can be recommended for its excellent trade execution which provides traders with minimal slippage. The spreads are higher than other ECN or STP brokers – however there is no commission being charged.
They have MENA regulation which is seen to be a major plus for traders form Middle East and North Africa.
Support is available in a wide range of languages which reflects FxPro’s truly global presence.