TRADING ACCOUNT
Since FxPro prioritizes online trading services to traders, opening a trading account at FxPro is easy as it is a fully digital process, and can be done via the companies website. FxPro offers several trading account types which can be determined based on the choice of platform and whether fixed or variable spreads is preferred,
FxPro MetaTrader 4 Instant and MetaTrader 4 Fixed
MetaTrader 4 account offers all instruments with marked-up floating spread and zero commission. The trading instruments available include forex, metals, indices, energy, futures, and shares.
FxPro MetaTrader 4
FxPro MT4 platform facilitates trading across 70 currency pairs and 3 metals. In addition, it allows trades on stocks, indices, and commodities.
FxPro MetaTrader 5
In FxPro MT5 platform trading can be made on forex, metals, energy, shares, indices, futures, and cryptocurrencies which can be found in the MetaTrader 5 terminal.
FxPro cTrader
The available trading terminals are cTrader Desktop, cTrader Webtrader, and the cTrader mobile app for both iOS and Android devices. The trading options here include forex, metals, energy, indices, futures, and cryptocurrencies.
FxPro Platform
There are CFDs trading instruments available on the FxPro platform, they include forex, metals, indices, futures, shares, and cryptocurrencies. Terminals for trading include the FxPro mobile app, MetaTrader 4 desktop, MT4 Webtrader, MT4 mobile app, and FxPro mobile app.
FxPro offers Demo and Professional accounts, a VIP trading account, and Islamic accounts.
Demo accounts are basically for beginners traders as it allows them to practice their trading strategies and get familiarized with the trading platform without running the risk associated with using real money.the demo account provides live quotes and stimulates real market conditions for assets like forex and CFDs on commodities, indices, and stocks. Transition from a demo account to a live version can easily be done. Demo accounts are available for free in FxPro Edge, MetaTrader 4, MetaTrader 5, and cTrader.
Professional accounts are suitable for traders with a decent trading experience. Clients using professional accounts have access to leverage of up to 1:500. To qualify as a professional, traders must satisfy two out of the three criteria outlined
- Have executed transactions of significant size on the relevant market with an average frequency of 10 per quarter over the past 4 quarters.
- Be employed or have prior employment in the financial sector for at least one year, in professional capacity requiring knowledge of the transactions or services involved.
- Possess a financial instrument of significant size exceeding 500,000 Euro, inclusive of cash deposit and financial instruments.
VIP Trading Accounts
The FxPro VIP account caters to high-volume traders with a significant account balance, requiring a deposit of $50,000 or more. VIP account holders enjoy benefits such as discounts of up to 30% on market spreads, access to Virtual Private Server (VPS), and up to 30% reduced commissions on cTrader accounts.
Islamic Account types
FxPro provides a swap free Islamic account that aligns with the principles of Sharia law, allowing Muslim traders to participate in the financial market without incurring interest charges.
FxPro UK limited entity standard account has a maximum leverage of 1:30. Traders classified as professionals can access leverage of up to 1:500.
TRADABLE INSTRUMENTS
FxPro offers a range of tradable instruments that are better than average, major ones include
- Currency Pairs. A currency pair represents the value of one currency relative to another, with the value of one currency quoted against the other. For instance, EUR/USD reflects the value of the Euro measured against the US dollar.
- Index CFDs. An index refers to a collection of trading instruments used to assess the performance of a market sector, stocks within an exchange, or the overall economy of a country.
- Cryptocurrency CFDs. Cryptocurrencies are digital currencies secured by cryptographic techniques.
- Stocks CFDs. A stock is a type of security representing partial ownership in a corporation. However, when trading stock CFDs, you speculate on the price movement of the stocks without actually owning the underlying company.
- Commodity CFDs. Commodities refers to raw materials such as gold, oil, metals.
FxPro also offers additional trading tools such as
- An Integrated Economic Calendar. This tool offers insight into the most significant upcoming news, making it valuable for fundamental trading strategies.
- Trading Central analytics. Trading Central offers signals, forecast and technical tools tailored for trading across all asset classes.
- Calculator. This tool facilitates one-click calculation of expenses associated with spreads and swaps.
- FxPro Squawk. This offers a live update on assets.
INVESTMENT OPTIONS
FxPro investors have access to the copy trading service available from MetaQuotes. Here’s how it works:
- Register on the MQLS website.
- Open an account using the MT4 or MT5 platform downloaded from the broker’s website.
- Select the “Signals” option found on the “Platform” menu for MT4 or the “Tools” menu for MT5.
Linking your trading platform to your MQL5 account allows you to effortlessly copy trades. Note, subscription fees are fixed and deducted from your MQL5 account, and you can unsubscribe from signals at any time.
FxPro Affiliate Program
Through this program, Introducing Partners can earn rewards of up to 55% of the income generated through referrals, regardless of turnover. Additionally, the broker offers comprehensive marketing and technical support to assist you in maximizing your earnings.
TRADING PLATFORM
FxPro provides four platforms that cater to various trading styles and experience levels. For casual and novice traders, the user-friendly and intuitive FxPro edge platform is a suitable choice. Meanwhile, advanced and algorithmic traders may prefer the functionalities that MetaTrader 4, MetaTrader 5 and cTrader offers.
FxPro Edge
FxPro Edge offers an excellent interface and a seamless trading experience. Being web-based, it allows direct market access from your browser. The Edge platform appeals to traders due to its high level of customization and popular features like one-click trading and trading directly from the charts. It is worth noting that currently, English is the only language available for the platform.
Through the FxPro Edge platform, traders have access to market, limit, and stop loss order, providing flexibility in trading strategies. Trailing loss orders are not available on the Edge platform, however they are available on MetaTrader and cTrader. The Edge platform offers a range of chart types, time frame, indicators, and drawing tools, along with extensive customization options, allowing you to tailor it to your preference.
FxPro Direct Mobile
The FxPro Direct app, accessible on both iOS and Android devices, offers a comprehensive list of features for managing accounts and trading. Its minimalist and user-friendly interface is a contrast to some other trading platforms. Notably, the app incorporates TradingView charts, which offers a wide array of indicators and analysis tools, enhancing the trading experience.
Key functionalities such ad one-click trading and direct trading from charts are available. Additionally, the app includes an economic calendar, enabling users to stay informed about crucial data that may impact the market. In terms of security, the app is protected by a 2-factor authentication process. Moreover the app’s availability in 19 languages ensures accessibility for a diverse range of users.
FxPro MetaTrader 4 Desktop
MetaTrader 4 supports advanced functions such as copy trading and automated trading. Available in 39 languages, from Arabic to Vietnamese, it ensures accessibility for a diverse user base. Some key features of this platform include
- Watchlists. Users can curate a list of their preferred instruments and monitor live quotes in a dedicated market watch panel, facilitating efficient tracking of market movements.
- Trading from the Charts. MetaTrader 4 enables users to place trades directly from the chart interface, offering convenience and efficiency in executing trading strategies.
- Alerts. Traders can set up alerts to be notified when an instrument reaches a specific price level, enabling timely decision-making.
- One-Click Trading. This feature allows traders to execute orders instantly with a single click and no secondary confirmation, enhancing speed in trading activities, particularly beneficial for short-term traders.
MetaTrader 4 web based platform
MetaTrader web based platform is a more simplified version of the desktop platform. It enables trading without the need for extra software, requiring only an internet connection. Users can engage in trading directly from any browser or operating system,
Clients using this web trader platform have access to certain features which include:
- One-click trading
- Access to trade history
- Advanced charting
- Watchlist
- Direct trading from chart
- Copy trading and algorithmic trading options exclusive to MT4 desktop platform
FxPro Mobile App
FxPro mobile trading app is available on both iOS and Android. The mobile app offers various order types, such as stop orders, and pending orders, but trailing stop loss orders are exclusive to the desktop version. Although the MetaTrader 4 mobile app version is not as user friendly as the desktop and web version, it still provides an extensive array of features.
cTrader
cTrader has an intuitive interface suitable for both novice and advanced traders. This web platform can stimulate an institutional trading environment, offering features Level 2 Depth of Market (DoM).
Popular features of cTrader include, One-click trading, trading from the charts, alerts, and market sentiment which is an indicator used to determine the percentage of client accounts that are either long (buyers) or short (sellers).
cTrader offers a diverse range of order types, including market, limit, stop loss, stop limit, and trailing stop orders. Traders can also set time-in-force conditions like Good Till Canceled (GTC) for pending orders. cTrader supports automated trading and strategy backtesting, enabling traders to utilize cBots, which are automated trading robots designed to execute trading strategies within the cTrader platform.
Another notable feature is cTrader Analyze, which allows traders to track and assess their trading activities. It provides valuable insights into account profitability and performance statistics.
DEPOSIT AND WITHDRAWAL
The available withdrawal and deposit methods vary depending on jurisdiction. For example:
- FxPro UK Ltd provides Bank Transfer, Broker to Broker, and Visa/Mastercard options.
- FxPro Financial Services Ltd offers Bank Transfer, Broker to Broker, Visa/Mastercard, Paypal, Skrill,and Neteller.
- FxPro Global Markets Ltd supports Bank transfers, Broker to Broker, Visa/Mastercard, and Skrill transactions.
Withdrawal via bank wire requires a processing time of 2-5 working days before funds can be reflected into the client’s account. On the other hand, credit/debit card withdrawals typically take 3-7 working days for the funds to be returned to the cards. The broker does not charge withdrawal fees, there is only a fee charged of 2-2.6% on inactive accounts.
EDUCATION
The materials presented on the FxPro platform are user friendly and comprehensive. The educational materials are provided in both video and text format, covering important topics like technical analysis, creating a trading plan, and risk management. For novice traders, the platform offers basic courses on fundamental and technical analyses, reviews of indicators, and articles on the psychology of trading. Meanwhile, for experienced traders, the platform offers news, market dynamics, and daily analysis on individual assets.
Information can usually be accessed in the educational section of the brokers website, such information includes, Trading Education, Economic calendar, Market news, Calculators, Forex terminologies, and many more.
Additional educational materials can be found on FxPro YouTube Channel this includes platform tutorials and recorded webinars in various languages.
CUSTOMER SUPPORT
FxPro customer services can be reached via the broker’s email address, a live chart, phone number, and an online form available on the website.
Their customer service is available 24/7, 5 days a week, excluding Saturdays and Sundays. However, cryptocurrency trading support is always available.
CONCLUSION
FxPro is a trustworthy and reliable broker that offers traders a range of tradable instruments and flexibility in trading via the FxPro Edge platform or the more advanced cTrader and MetaTrader platform. The forex broker offers CFDs on forex pairs, stocks, indices, futures, metals, and energy. Keep in mind that it also operates via Prime Ash Capital Limited and retail investor accounts are protected by financial authorities.
Opening any account types at FxPro is determined by your choice of platform, and whether you prefer fixed or variable spreads. The account types provided are Demo accounts, Professional accounts, VIP accounts, and Islamic accounts. Professional accounts have a leverage of 1:500, whereas, VIP account holders are eligible for a discount of up to 30% on market spreads. Note, the maximum leverage for a standard account under the FxPro UK Limited is 1:30. FxPro offers competitive spreads across a range of instruments.
FxPro clients portal features a live squawk, newsfeed, and standards tools such as an economic calendar and FX calculator. The forex broker also offers content from the third party provider Trading central, which features functions such as futures Analyst views, Featured ideas, and Technical insight.
FxPro provides its clients with prime liquidity, ensuring enhanced execution without dealing with intervention. This means traders can experience improved order execution and efficient trading without interference.
FxPro user-friendly interface and simple to use platforms, coupled with the vast amount of educational materials available on the platform has made it one of the most reliable brokers.
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