Inside Forex Brokers (IFB)
Review of the company
FxPro is a brokerage brand that is part of the FxPro Group Limited holding. An Internet portal through which services are provided in the financial markets has existed since 2006. The company offers beginners and professional traders to earn money using various tools: currency pairs, price difference contracts, futures and spot transactions for precious metals. The page with contact information on its website contains the addresses of three representative offices: in Cyprus, in Russian Federation and United Kingdom. At the same time, FxPro’s geography covers 170 countries, including in Europe, CIS and Asia-Pacific region.
License and regulation
Officially, the broker is represented by two related companies: FxPro UK Limited and FxPro Financial Services, which are registered in different jurisdictions. The first is regulated by the British Commission Financial Conduct Authority (FCA), formerly known as FSA. In turn, the second received an offshore license in Cyprus and, therefore, is controlled by the Securities and Exchange Commission (CySEC) operating in this state. In addition, the broker is developing in the manner defined by the MiFID directive adopted by the European Parliament in 2004. He also works with CIFSA, CCCI and CFSFA and is certified by the Investors in People standard, developed by the UK Commission for Employment and Skills (UKCES).
Advantages to clients
Like many competing organizations, the company positions itself as an NDD broker. According to information on its official web portal, it does not intervene in the transaction process, but acts as an intermediary between traders and liquidity providers – the world’s largest banks, such as Deutsche Bank, JPMorgan and others.
A positive point is also the interaction with the FSCS (Financial Services Compensation Scheme) and ICF (Investor Compensation Fund) – the fact of such cooperation indicates a possible insurance of assets. Another popular trend, which the broker claims to participate in, is the storage of customer deposits in independent bank accounts.
Investment platform
The platform created to generate income on investments was named FxPro SuperTrader. It unites investors and “providers of algorithmic strategies” – this is how broker defines traders whose trading operations are copied to client accounts. An investor can choose strategies from the rating and diversify his portfolio by managing risks. Reviews about FxPro SuperTrader make a generally positive impression: leaving a significant part of the work for clients, the broker gives them more freedom of action and control over their own savings.
Trading conditions
Profit on speculative trading in this company is carried out according to one of two basic calculation models, depending on the selected terminal. To work with currency rates quotes on Forex, FxPro offers two platforms: traditional for this segment MetaTrader 4 and cTrader. At the same time, payment for company services for intermediation in the financial markets is carried out in different ways:
- FxPro MetaTrader 4 (MT4): in the form of a premium to each spread;
- FxPro cTrader: as a fixed commission for each transaction.
The amount of leverage varies depending on the number of lots: from 1:33 (above 500 lots) and up to 1:500 (from 0 to 100). As for the spreads, they range from 1.2 pips on the euro/dollar pair (the average is 1.8). Reviews about FxPro allow us to name the strength of this broker support for scalping and algorithmic trading.
Automation supporters are offered a special training service – FxPro Quant, within the framework of which video tutorials and instructions for using and creating advisers are available. Traders will also be interested in information about the FxPro System trading system, reviews of which can be obtained on third-party resources.
