Introduction

FxPro has 15+ years of experience as a brokerage receiving 70+ global awards. That means they have got one award per quarter ever since the establishment! The brokerage has executed more than 400 million orders while serving 1.5 million clients over 173 counties. The broker lists in Tier 1 Capital and has more than 200 employees across its four offices—regulatory licenses in the UK, Cyprus, South Africa, and the Bahamas.

There are 260+ instruments in 6 asset classes for traders to trade! The spread is low for the forex traders, and the execution speed is as fast as 11.06 milliseconds. Throughout operating the platform, their technology can execute 7000 orders per second. Due to their location of the data centre, the latency is super low as well. They have provided reliable conditions for traders to trade with confidence.

Pros and Cons

Spread & Commission

FxPro offers competitive floating spreads to all the instruments. The commission varies on the type of account you open. Let’s see the difference in fees charged among the accounts.

On MT4 and MT5 account, FxPro charges the spread on any instruments you trade. There is no commission to be paid. FxPro levied a small mark-up upon the spreads.

On the cTrader account, the spreads are much lower, starting from 0. Yet, it charges a $45 fee per 1 million USD traded upon opening and closing positions, which is reasonable.

On MT4 fixed spread, the net offers fixed spreads on the seven significant forex pairs.

Leverage

FxPro offers a dynamic forex leverage model that adapts automatically based on clients trading positions via trading platforms like MT4, MT5, and cTrader. If you open a position on EURUSD with 100 lots and USDJPY later on, the margin requirement will not be affected by the previous position.

Deposits and withdrawals

The minimum required deposit is 100 USD, which is adequate for getting started. Eight base currencies are available for you to choose from. The currencies are USD, EUR, GBP, CHF, PLN, AUD, JPY, and ZAR. FxPro charges no deposit fees, and you can use several ways to deposit your fund. Plus, it charges no withdrawal fees except for a fee to refund your PayPal account more than six months after the initial funding. 

Account Types

FxPro MT Instant

• MetaTrader 4 Desktop, Web trader, iOS, and Android mobile apps supported.
• Forex, Futures, Stocks, Indices, Energies, and Metals are available.
• MT4 fixed spreads’ applies only to 7 significant pairs.
• The trading fee levied on the spread only (0 Commission).
• Instant Execution based on the price on the screen.

FxPro MT4

• MetaTrader 4 Desktop, Web trader, iOS, and Android mobile apps supported.
• Forex, Futures, Stocks, Indices, Energies, and Metals are available.
• The trading fee levied on the spread only (0 Commission).
• Market Execution based on VWAP (volume-weighted average price)

FxPro MT5

• MetaTrader 5 Desktop, Web trader, iOS, and Android mobile apps supported.
• Forex, Futures, Indices, Energies, and Metals are available (No Stocks).
• The trading fee levied on the spread only (0 Commission).
• Market Execution based on VWAP (volume-weighted average price)

FxPro cTrader

• cTrader Desktop, Web trader, iOS, and Android mobile apps supported.
• Forex, Metal, Indices, and Energies are available (No Stocks and Futures).
• Forex and Metal: $45 per 1 million USD traded.
• Indices and Energies: levied on the spread only (0 Commission).
• Market Execution based on VWAP (volume-weighted average price)

FxPro Edge

• FxPro Edge web, FxPro iOS, and Android mobile apps, and MT4 platform range supported.
• Forex, Futures, Stocks, Indices, Energies, and Metals are available.
• The trading fee levied on the spread only (0 Commission).
• Market Execution based on VWAP (volume-weighted average price)

Trading Platforms

FxPro Edge

FxPro Edge is a newly launched trading platform specialized for FxPro brokerage. It offers convenient and easy-to-use functions in terms of charting and technical indicators. The user interface is impressive and was super fast and easy to sign up. Interactive economic calendar and volatility push notifications are also integrated for traders’ convenience. It is an all-in-solution allowing traders to manage accounts, funds, and positions. Yet, it only supports one language (English), no trailing stop function, and does not support EA.

Keynotes:

• Mac, Windows, iOS, and Android supported.
• 6 types of charts are available.
• 15 time-frames to monitor the market.
• 50+ technical indicators to analyze.
• Fully customizable interface.
• Does not have an EA (Expert Advisor) function.

MetaTrader4

MetaTrader 4 is an industry-standard trading platform that most traders use to trade. You can customize various analytics market news, economic calendar and share trading ideas among traders. FxPro offers instant and market execution for MT4 accounts. Here, all the orders are executed with No Dealing Desk Intervention, which means the system completes trades within milliseconds. MetaEditor is a tool implemented in MT4, which allows you to build, back-test, and set up a fully automated trading bot via Expert Advisors (EA) based on a combination of technical indicators of your preferences.

Keynotes:

• Mac, Windows, iOS, and Android supported.
• 3 types of charts are available (Candle, Bar, and Line Chart).
• 9 time-frames to monitor the market.
• 50+ technical indicators to analyze.
• Fully customizable interface.
• MetaEditor for EA is ready for you.

MetaTrader5

cTrader 

cTrader is a brand-new trading platform that was established in 2010 by Spotware. It offers complete solutions for traders packed up with various features to enhance every aspect of your investment. It provides excellent indicators, advanced order types, fast entry, and execution. The User Interface is stunningly impressive and easy to understand the components.

cTrader also offers copy training, algorithmic trading solution, Open API, and FIX API. Together it is tuned for those people who are interested in system trading. If you don’t know how to make one, choose one to copy with a  simple click!

• Mac, Windows, iOS, and Android supported.
• 9 charts are implemented ( Candle, Bar, OHLC, Line, Heikin, Dots, Renko, Range, and Tick chart).
• Over 70+ indicators are pre-installed for you! 
• Custom indicators built-in cTrader Automate from thousands of developers.
• 8 different formats to set-up chart view based on your trading style.
• Easy to create up to 50 templates with a variety of strategies and time-frames.

Education

FxPro has educational materials for beginners as well as for advanced traders. There are lots of videos that you can go through to learn the basics of CFD trading from A-Z. Their education materials are in a format of cards consisting of Information and contents that are well-organized and easy to read with an awesome User Interface.

Contents are consist of : 

• Basics – Good start for newbies
• Fundamental analysis – Tips for Beginners
• Technical analysis – Advanced Knowledge
• Psychology – Section to level up your trading
• Fundamental analysis 2.0 – Advanced Knowledge 2
• Trading tests – self-check online
• Video Tutorials – For Beginners and Advanced

Their education materials cover several different aspects, yet it tends to lack more insights, and the depth of knowledge might not be the level that you might have expected. Other than the materials on their website, we were impressed by the number of videos posted on YouTube. The number of subscribers is around 25,000+, with 235 videos are available for you to go through.

News and Analysis

There are news and analysis sections within the FxPro website, which may help you to provide up-to-date information occurring in the market worldwide.

These analytics are as following : 

• Economic Calendar – World major data publications.
• Earnings Calendar – Information for the stockholders.
• Market Holidays – Days-off on world exchanges.
• FxPro Market News – Sharp analytics for active traders.
• Technical Analysis by Trading Central – Trading signals for all FxPro clients.

FxPro offers all of these functions to every user!  Contents are well-organized and easy to read. Take consideration of these analytics would let you gather juicy information to aid your trading journey! 

Customer Service

Their response was fast, friendly, and provides relevant answers to the questions. Their customer service is 24/5, which means you can’t get support during the weekends. The number of languages for assisting is more than 25+ languages, and you can contact them via live chat, email, and phone call.

Safety

Negative Balance Protection is offered to guarantee customers not to go into debt due to a margin call as part of the Client Agreement, subject to the Order Execution Policy.

FxPro UK Limited clients are eligible for compensation under the Financial Services Compensation Scheme (FSCS)*. Clients of FxPro Financial Services Limited are protected by the Investor  Compensation Fund (ICF)

FxPro takes the safety of client funds very seriously. For this reason, all client funds are fully segregated from the company’s funds and kept in separate bank accounts in global banking institutions, including Barclays and Royal Bank of Scotland.

Regulation and Licensing

FxPro group operates three legal entities, each regulated by the relevant local authority in that jurisdiction. They have main offices in the UK, Cyprus, and Bahamas. 

Conclusion

FxPro offers 6 different asset classes as trading instruments, giving traders more freedom of choice. Implementing No Dealing Desk Intervention allowed traders to execute orders lightning-fast. No deposit and withdrawal fee is impressive. Meanwhile, cTrader, a brand-new trading platform, is also supported by traders! 

Yet, FxPro offers much less number of stock CFDs compared to other brokers. Educational materials on the website lack in-depth knowledge. Lastly, their trading platform, FxPro Edge, only supports one language with no EA supported.

Overall, FxPro is a safe and well-known brokerage received 70+ international awards globally. For those who seek to trade different sorts of asset classes with a rapid trading execution speed, it is just the right one for you! 

Introduction

FXTM is a top-class forex and CFD broker founded in 2011. Rigorous institutions regulate it throughout the continents. The firm has been growing across Europe, Africa, and Asia. The broker provides tight spreads and fast speed of execution for traders, establishing reliable trading conditions. Hence, FXTM empowers traders with a wide range of education materials suitable for both beginners and advanced traders.

Pros and Cons

Assets

• Forex Pairs (50+ pairs)
• Spot metals (Gold & Silver)
• CFDs on Commodities/ Indicies / Stocks

FXTM provides more than 250 instruments, including forex pairs, CFDs on indices, spot metal, and shares. They offer a good range of markets for traders to trade.

Spread & Commission

The commission rate that FXTM offers for Forex traders are comparatively low and an industry average for CFD traders. You can enjoy competitive spreads starting from 1.3 pips on the Standard MT4 trading account and 0.1 pips on the ECN MT4 and ECN MT5 trading accounts.

You will pay trading fees when you trade. These fees are spreads, commissions, and conversion fees. For standard accounts, spreads are higher but the commission-free. ECN accounts charges commission, but spreads are low. The formula for calculating the commission is

(Volume * Contract Size * Open Price) / 1,000,000 * Commission * 2.

Leverage

With FXTM, you will be able to trade with fixed or floating leverage. Leverage may potentially increase your profit but losses as well. Thus, the two major factors determine the level of leverage. The first is the regulatory requirement of a particular region. The second is the experience level of the trader.

Therefore, if you are willing to operate under a high leverage ratio up to 1:2000, you must open a specific account offered by the global brand. If you are dwelling in the UK or Europe(ESMA regulation), it restricts maximum leverage to the 1:30, including significant pairs like EURUSD, GBPUSD, and USDJPY.

Minor pairs to 1:20, Spot metals to 1:20, Indices to 1:5, Commodities to 1:10 (US Crude oil), and CDF US shares offer 1:5 leverage. Remember not to use leverage too much, which could result in a margin call of your position in a split second.

Deposits and Withdrawals

FXTM supports more than 40+ ways to deposit and withdraw the trader’s fund 24/7. For instant deposits, we recommend using Skrill, Neteller, and other credit cards for instant transactions with no fees to be paid. It is simple and easy to transfer your fund to FXTM with various options. The minimum required deposit is 10 USD, and it is free! But, in terms of withdrawal methods, the commission is added.

How to deposit?

You may have to choose the methods based on your region. FXTM is rapid in terms of processing the deposits. It usually takes 2 hours to arrive for you to start trading. The minimum required deposit is $/€/£ 10 for CENT ACCOUNT and $/€/£ 100 for STANDARD ACCOUNT.

How to withdraw?

Usually, it takes two business days after you confirm the request to withdraw the fund from your trading account. Some of the methods require a withdrawal fee while others are free.

Account Types

There are two major categories of accounts that you can choose to register, Standard and ECN. Each sort of account has different options levied. Let’s take a look at the specific details of them.

Standard Account

• Standard Account provides leverage up to 1:2000.
• The minimum deposit is $/€/£ 100.
• Spread begins from 1.3.
• 59 pairs of forex.
• 5 pairs of spot metals.
• 14 pairs of spot CFDs.
• 4 pairs of cryptocurrencies.

Cent Account

• Cent Account provides leverage up to 1:1000.
• The minimum deposit is $/€/£ 10.
• Spread begins from 1.5.
• 25 pairs of forex.
• 2 pairs of spot metals.

Stock CFDs Account

• Stock CFDs Account provides leverage up to 1:10
• The minimum deposit is $/€/£ 100
• Spread begins from 0.1
• 120+ pairs of US shares
• 40+ European shares

Stocks Account

• Only for Exinity Limited Customers
• Stocks Account provides no leverage.
• The minimum deposit is $/€/£ 100.
• Spread depending on the market situation but remains tight.
• US stocks are available for trading.

ECN Account

• ECN Account provides leverage up to 1:2000.
• The minimum deposit is $/€/£ 500.
• Spread begins from 0.1.
• 48 pairs of forex.
• 3 pairs of spot metals.
• 14 pairs of spot CFDs.

ECN Zero Account

• ECN Zero Account provides leverage up to 1:2000.
• The minimum deposit is $/€/£ 200.
• Spread begins from 1.5.
• 48 pairs of forex.
• 3 pairs of spot metals.
• 14 pairs of spot CFDs.

FXTM Pro Account

• ECN Zero Account provides leverage up to 1:200.
• The minimum deposit is $/€/£ 25,000.
• Spread begins from 0.
• 43 pairs of forex.
• 2pairs of spot metals.

How to open Accounts?

1.Visit the FXTM home page and click OPEN ACCOUNT.

2.Enter your Name, Country, Phone number, Email, and Password.

3.After verification, the registration is complete.

4.After log-in, upload your document to verify your profile.

5.Deposit your fund and start trading! 

Trading Platform

The trading platform is online software that helps investors to access Forex and other financial markets. You can utilize a wide range of tools, indicators with a different time frame to monitor and analyze the market. MetaQuotes software launched MT in 2005, and it soon became the go-to industry trading platform.

MT4

MetaTrader 4 is a stand-alone online trading platform developed by MetaQuotes Software. It provides access to a range of markets and hundreds of different financial instruments, and you will have all the tools you need to manage your trades and analyze the markets while it is free to everyone. This trading platform enables you to access more than 30 technical indicators, which may help you identify market trends and signals for entry and exit points. 

Keynotes:

• Easy to read charts.
• Real-time monitoring of the market.
• Provides 30+ technical indicators.
• Nine different time-frames to choose from.
• Determine entry and exit points based on signals.
• Multi-device functionality and trustworthy security system.

MT5

MetaTrader 5 is the newest and most advanced online trading platform in the industry, offering from MetaQuotes. It includes a multi-threaded strategy tester, fund transfer between accounts, and alerts to remind you of the latest events. Combined with innovative services like FXTM’s Pivot Point tool and FXTM Invest, it ensures traders to have all the resources needed to trade with confidence. Hence, Its diverse functionality, fundamental and technical analysis tools, copy trading, and automated trading equip you with the best tools and instruments available. MetaTrader 5 is also entirely free for download.

Keynotes:

• 44+ analytical objects with an unlimited number of charts.
• 38+ technical indicators are implemented.
• Economic calendar and email system.
• Multi-threaded strategy tester.
• Fund transfer process between accounts.
• Alerts to remind up-to-date market events.
• Embedded MQL5 community for traders to chat.

FXTM utilizes the industry’s best third-party software, MT4, and MT5 as the trading platform. Both of them provide Web Trading platforms as well as installed directly to PC or any other devices. These trading platforms are easy to use with a range of tools. There are lots of educational materials to learn about this platform. Meanwhile, automated trading and back-testing functions are also available. So for those seeking quantitative investing or system trading, this is the right tool for you.

Copy Trading

 

FXTM has a copy trading function, which is also named FXTM Invest. With this fabulous service, you can choose which traders you want to copy based on their performance. The system will give you the authority to fully control your own money, and you only need to pay the fee to the strategy manager when there are profits.

When you are choosing a strategy manager, we recommend you not only consider the profit percentage over some time but also MDD (Maximum Drawdown). MDD means a percentage of losses from peak to bottom of a yielding curve. Plus, check the level of leverage, profit factor, winning rate of the strategy manager, and the percentage of the fee that has to be shared.

Trading may give you financial benefits but also cause a loss of your precious fund. Copy-trading does not guarantee profits. Thus, choosing the right manager is the key to success.

How to use FXTM Invest?

1.Pick a Strategy Manager based on your preferences.

2.Make a deposit, as little as $100.

3.Automatically copy the strategy.

4.Cash in when your manager earns a profit.

5.Share a portion of profit with the manager.

Education

FXTM provides numerous educational materials such as E-books, Seminars, Webinars, and more. Users can choose a range of sources to learn about the following topics. Going through these sources of materials is very useful for beginners who have just started learning how to trade. 

• E-books
• Forex trading seminars
• Forex trading webinars
• Forex glossary
• What is Forex?
• Beginners guide to Forex trading
• Forex trading strategies
• Educational videos
• Articles
• Periodic table

Their materials for education covers insightful topics and useful for traders to discover new strategies. The E-book covers technical analysis, cryptocurrency, and habits for the traders to gain success.

They regularly open up the seminar with several experts working in the finance background for a long time. It may further enhance the traders’ information and knowledge to trade and survive in the market,

The glossary covers hundreds of vocabulary related to trading. We are confident that you can find any vocabularies you are curious about in terms of trading.

“What is Forex” section is a great place to learn about Forex trading basics. Moreover, they also provide Forex trading hours, which reminds us which pairs of Forex will open up the market.

FXTM well-prepared resources for people to learn about the market and trade those assets listed on the market. Books, glossary, Videos, Webinars, more are ready for you to learn about them! 

Customer Service

FXTM is a very client-oriented and a competent customer service that is available through emails, online chat well as phone calls instantly. Feel free to contact them anytime, anywhere you want related to the platform! 

The firm has a good reputation from clients for supporting a great range of 18 languages for traders worldwide. They are fond of the traders, and you can ask questions about trading. There are centres in Asia, Africa, Europe, and more, which implies that FXTM cares about users worldwide.

Regulation and Licensing

Several jurisdictions regulate FXTM.

Accepted Countries

Regional restrictions: FXTM brand does not provide services to the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, and Cyprus’s occupied area.

Conclusion

 FXTM provides reliable trading conditions with a tight spread. The trading fees for forex trading are highly competitive in the industry. It would give an edge for traders to succeed in trading.  

Making an account is simple and easy, 100% digital. The deposit fee is free but charges commissions to withdraw. It also charges Inactivity fees if you don’t trade over 6 months.

Overall, FXTM has spectacular educational materials and is a go-to Forex broker for beginners who seek to learn the basics of trading. Provides Demo accounts, and the minimum deposit is as low as $/€/£ 10. We believe FXTM is the best place to start your trading journey.

ForexPick is a multinational guide consist of genuine reviews of brokers and a variety of educational materials to help your trading journey. The writers of ForexPick has 10+ years of experience in financial market trading Forex, Stocks, Bonds, Indices and Cryptocurrencies for living. Throughout our contents, we would like to offer you useful knowledge and information to enhance your life standard!

 

Our Methodology to Pick Brokers

Assets

• Asset Classes: There majorly six kinds of asset classes that you can trade. Forex, CFDs on Futures, Precious Metals, Commodities, Indices and Stocks. We take consideration in the number of asset classes that the broker offers to traders to direct you to the correct brokers.
• Trading Instruments: In each category of asset classes, the financial instruments vary as well. Some broker may only offer significant forex pairs like EURUSD, GBPUSD, and USDJYP while others also provide minor and exotic pairs. We clarified the number of pairs of each asset classes that a broker offers to make sure there are enough choices that you seek.

Spread & Commission

• Spread and Commission: These are the most vital thing to consider when you are choosing a broker. Since the hidden or high fees could potentially eat up all the profits that we have earned, we double-check this factor over and over so that the brokers do not have any hidden fee or levy a harsh cost.
• Trading Fee: Most of the broker charges no trading fee but the spread. It means the cost is already levied on the spread so that brokers can generate revenue. Yet, few specific account types charge a trading fee per LOT you have traded. We ensure that we have informed you correctly to prevent any unnoticed fees.

Leverage & Margin

• Leverage and Margin: Each broker offers a various extent of margin and leverage. It is a short-term credit that is provided by the brokers. It varies on the Account Type you have opened and Legal Entity of the broker.
• Risk of Leverage: We recognise the power of leverage in terms of trading, empowering traders to maximise their profit. However, leverage is like a double-edged sword. It potentially enables you to gain more profit and also possibly lead to losing all the fund (Stop-Out). Remember, 73% of Forex and CFD traders loss gets all their fund liquified.

Deposits & Withdrawals.

• Means of Deposit & Withdrawl: There are several ways to deposit and withdrawal your fund to/from a broker. Most of them offer E-wallets like Neteller and Skrill, Credit/Debit card like Visa/Master and Bank Wire Transfer. Some of them also support Crypto and Local Bank Transfer. 
• Speed of Transaction: We have tested our fund with each broker to observe the speed of transactions. E-wallets usually took 10 to 20 minutes, and it can take up to 24 hours. For Bank Wire Transfer it takes typically 24 to 48 hours to complete the transfer. 

Accounts

• Account Types: Each broker has different kinds of account type that it offers. Each account type has different Minimum Deposit, Leverage, Spread and Financial Instruments. In each brokers’ review, we mention all these elements in the form of a table to ensure it is easy to understand. It is helping traders to discover which account type is suitable.
• Account Opening: The process of opening account for most brokers are user-friendly and 100% digital. Yet, the method may vary among them. We have written step by step manual to help you with opening an account.

Trading platform

• Trading Platforms: MetaTrader4 and Metatrader5 are the industry-standard trading platform that millions of trader use to trade a wide range of financial instruments. Some of the brokers also offer cTrader as an option as well.
• In-house Developed: Every broker offers MT4 and MT5 by default, and some of them also provide in-house developed trading platforms that are optimised for their system.
• Functionality: In-depth analysis in terms of functionality and difference among those trading platforms.

Analytics and Educations

• Analytics: Analytics like Up-to-date News, Economic Calendar, Trading ideas and more useful functions are implemented in every brokerage to help traders to analyse and study the market.
• Education: Brokers offer educational materials such as E-books, Glossary, Webinars and Videos for traders from basic to advanced level. 

Customer Support

• Language: Brokers for Forex and CFDs usually has clients from 100+ different countries. It is crucial to make sure that the Customer Service team can respond to questions from people worldwide.
• Availability: Operating time of each broker may differ according to their location and legal entity. We take this into account whether the brokerage offers 24/5 or 24/7 services to ensure the availability for the traders.
• Relevance: Contacted each customer service team directly via live chat and email to ensure they are capable of providing relevant answers to the questions. 

Regulations and Licensing

This section is the most critical part to consider in terms of choosing a broker. We feel obligated to ensure the broker is regulated and monitored by the legislative institutions.

Foreign exchange is a decentralised market with no central exchange or clearinghouse. Due to its nature, it tends to be less regulated than other financial markets.

But, there are governmental and independent supervisory bodies that act as a watchdog to comply with regulations. Their objective is to make sure it is fair and ethical to the customers. 

Major regulatory requirements : 

1. Audit: Auditing assures the broker financial risk is adequate and no misappropriation of funds. Brokers must present periodical financial and capital adequacy statements.
2. Client Conduct: Brokers can not make nonsensical and misleading claims to customers. Therefore, preventing clients from taking dangerous investment decisions.
3. Leverage Limits: Guard clients against over-the-top risk levels. Firms may not be able to offer exceptionally high leverage depending on the legal entities.
4. Minimum Capital: These constraints guarantee that clients can withdraw their fund even though the broker goes bankrupt.
5. Reporting and Transparency: It ensures clients are fully notified about their account and risk of trading Forex and CFD products.
6. Segregated accounts: It ensures the broker can not use any of the clients’ fund for any purpose. Regulations demand all the deposits be secured independently from the brokers’ bank accounts.

List of Regulators: 

Accepted Countries

• Base on the legal entity of a broker, there are few countries that are restricted to register and/or trade Forex and CFDs.
• In our reviews of brokers, restricted countries are stated to clarify whether a trader can open an account to a specific brokerage.

Additional Functions

• Brokers tend to differentiate themselves to other companies to persuade traders to use their services.
• Thus, features like Copy Trading, Welcome Promotions and other special offers that broker prepared are also addressed. 

Pros and Cons

• Considering all the factors above, we locate the Pros and Cons at the beginning of the review to provide an instant overview of the broker that has been analysed with full investigations.

Conclusion

• In conclusion, we specifically mention the advantages and disadvantages of a broker to provide the least biased reviews. 
• Lastly, the summarization of fundamental research is organised to present the last verdict.