Ready to start trading Forex? You may have heard of FxPro. Of course, there are so many Forex trading platforms available to investors you may be concerned about whether this platform is a safe bet.
We’ve gotten a few questions about FxPro. Our readers have asked us about the company, whether the platform is legit and if it’s a good place to trade. Here are the answers to those questions as well as what users and experts have to say about the service.
What is FxPro?
FxPro is a Forex trading platform which is regulated by the Cyprus Securities and Exchange Commission. It is a legitimate company and it is safe to trade on the FxPro platform. Of course, always remember never to invest more than you’re willing to lose.
FxPro is available to traders in over 150 countries and offers a wide range of investment options. With FxPro you’ll have the opportunity to deal with currency pairs, spot indices, spot metals, spot energies, futures and shares. That said, no matter what you’d like your portfolio to look like, you can most likely find what you’re looking for on FxPro.
If you’re a trader in the United States or Canada, you’ll have to use a different platform. FxPro primarily handles European investors. It’s also unavailable in Iran. However, no matter which country you live in, the FxPro website and customer service likely support your language. Check out the home page of the website for more information.
FxPro Reviews: What Customers are Saying
Traders on FxPro aren’t only impressed with the range of products offered. They’ve also been thrilled with the options they have to execute their trades.
First, the FxPro serviceis available on iPhone, iPad and Android devices. You can literally trade on your morning commute or while you’re sitting in an office meeting.
Many popular brokers use the MetaTrader 4 platform. MetaTrader 4, or MT4 is a robust application which is fully customizable. Traders can set alerts or automatically execute trades. Even the interface itself if is customizable.
FxPro users love that the platform and MetaTrader 4 integrate beautifully. But FxPro has gone even beyond that, incorporating MT4’s successor, MT5 into the list of options available. If you choose, you can also use FxPro cTrader.
With as many options as are available to investors, we recommend you open a demo account. Take some time to play with the options until you find the one that’s going to work best for you.
So what do people like the most about FxPro? A few things! Customers who used FxPro love the fact that it’s so easy to set up an account. Most began with a demo account and were able to quickly establish a live trading account using their existing credentials.
The low commissions were also a hit. FxPro charges $4.50 per standard lot which equates to $9 per round turn trade. Compared to most other platforms, this is a great price. Customers loved that there were no high per-trade commissions.
Also popular was the fact that only $100 is needed to begin an account, although $500 is recommended. Those who weren’t sure about the platform were able to invest just a hundred before they made the switch to FxPro.
FxPro Reviews: A Few Issues
Issues with the platform were rare but they did arise. There were just a few things that users cited as inconvenient.
To begin, the information available on the website is sparse. Many platforms choose to include educational tools, news reports and streaming tickers on their websites. FxPro does not.
For most that isn’t a problem. In fact, many people liked the uncluttered design of the platform. They’re there to trade, after all. Executing transactions was easy and uninterrupted.
But some investors like “one stop shopping.” They want their tickers, their education and their stock news on one site. FxPro does not offer that.
Another complaint from FxPro reviews was that the spreads on the live accounts are higher than those on the demo accounts. To that, we’d simply remind you that the demo account is just that. It’s a demonstration of the service and of the platform and shouldn’t be used as an indication of how much money you’d make on the live markets.
Positive FxPro Reviews
Despite these minor issues, the overall attitude of FxPro reviews was very positive. Customer service was cited as helpful and prompt. Trades were efficient and quick. And the diversity of the portfolio you can create is impressive.
FxPro has what is called a VIP premium account. These accounts are available to investors who have a large trade volume and a large portfolio worth ($50,000 or higher). Members who were selected for this program loved the perks it offered.
First, there are no deposit or withdrawal fees in the FxPro VIP program. This is true no matter the payment method. Secondly, all VIP clients will have a dedicated account manager. If you need anything, you can just give them a call.
FxPro reviews from VIP members also noticed a difference in the speed of their transactions. VIP clients have access to a virtual private server which is not available to traditional members. The result? Less lag and faster transaction times.
While it’s not necessary that you hold over $50,000 in assets on the FxPro platform, the VIP benefits are worth it according to investors.
Should I Use FxPro?
If you just want to buy a few shares of, say, Apple, FxPro probably isn’t for you. But if you’re looking for a diverse portfolio including CFDs, currencies, metals and more, FxPro might be your best bet.
FxPro reviews are good enough across the board that we can recommend the platform to our readers. As always, use your best judgment. Consider what you’d like your portfolio to do for you, experiment with the FxPro demo account, and if it suits your investment needs, register your live account.