Advantages and disadvantages of working with FxPro broker
The First Art Newspaper on the Net    Established in 1996 Sunday, July 21, 2024

Advantages and disadvantages of working with FxPro broker

FxPro is a well-known global forex broker that has 4 licenses for its activities at once. The company's name has been known for more than 15 years, it is a worthy competitor to such gurus as EXNESS, InstaForex, Weltrade. Over the years of its activity, FxPro has been absolutely deservedly awarded more than 75 awards and certificates of honor. At the moment, the broker's specialists serve clients from 173 countries, and the total number of traders exceeds 1,300,000. On the Tradersunion you can find out the proven information about the broker.

Trading instruments and account options
In total, the broker has six asset classes to choose from for trading: precious metals, energy resources, indices, stocks, currency, and futures. The total number of available tools exceeds 260. Two thousand orders are executed every second for no longer than 11.6 ms. All trading accounts are adapted to the asset markets. There are six of them in total, five of them have a minimum entry threshold for opening an account — $ 100. The latest trading account, which is designed for large VIP clients, has a minimum deposit of $ 50,000.

Main trading accounts:

● For the MT4 platform with Instant order execution with a fixed spread of 1.6;
● For the MT4 platform with Instant execution with floating spreads from 1.71;
● For MT4 with the execution of Market orders, the spreads are 1.58;
● For the MT5 platform with spreads of 1.51;
● cTrader with spreads of 0.37.

In the first two accounts, requotes are periodically observed during a period of high volatility. There is a demo version for each of the accounts, anyone can try to study the trading platform, understand the principles of working on the financial exchange, evaluate analytics and analysis services without mandatory replenishment of the account.

Trading terminals for making transactions
The broker has developed its own trading terminals for trading, their services include cTrader and FxPro Trading Platform. Such platforms can be used by both beginners and experienced traders who have been cooperating with the broker for several days. If you have come from other companies, there are standard and the most popular terminals: MT4 and MT5. All services are presented both in versions for a computer or browser and for mobile phones.

Real reviews from FxPro customers
Studying users’ FxPro review, the opinion about the FxPro broker was twofold. A chic official website, beautifully presented information in the simplest possible language, several platforms for work, a huge number of assets, and trading accounts adapted to different financial instruments — these are just a small list of really good offers that the broker has worked on. However, no one is perfect, satisfied customers also express their complaints about the disadvantages of working with FxPro:

● high spreads;
● not all assets are available under FCA regulation;
● complex registration and verification system;
● there are delays in the withdrawal of funds, transactions in parts;
● bureaucracy and certain difficulties of working with managers, too much unnecessary red tape with documents;
● technical support does not work at weekends;
● a large minimum deposit, such terms of cooperation may repel newcomers;
● there are no bonuses or reward system.

All the claims are objective, but it is difficult to distinguish them as shortcomings. For example, verification and registration, a long withdrawal of funds is a forced measure, since the broker works with large amounts, interbank and offshore accounts, customer deposits, which can amount to tens of thousands of dollars.

The question of the minimum deposit also worries traders. Why doesn’t the broker give newcomers accounts with a smaller deposit amount than $ 100. Other brokers have such conditions, and the amount of additional bonuses depends on the deposit. FxPro went the other way.

If you want to protect yourself from “empty” accounts, you can open an account only if you are ready to invest at least $ 100. Then traders will take a responsible attitude to work, have a desire to learn and earn money. If you have an open account of a few bucks, it will not be possible to earn a lot, especially to understand how the trading scheme on the financial exchange works.

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