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FxPro Review

FxPro is a very well-known and well funded Market Maker. In business since 2006, FxPro has gained a large pool traders by buying up some very prominent advertising space. By providing its own liquidity and keeping all trades in house, FxPro is able to give its clients some of the lowest spreads in the industry (0.8 pips target on EUR/USD) as well as lightning fast execution (most of the time). The key here is, unfortunately, that execution is done at their discretion.

On the plus side, all client accounts are segregated, with funds being held at some of the biggest banks in Europe. FxPro is also regulated by CySEC in Cyprus and under the European MiFID directive. As mentioned earlier, FxPro is known to be very well funded (although the exact level of capitalization is not published). All this points to a high level of safety for your funds.

Scalping is not discouraged, and all trading styles will be met with great overall conditions, as long as you are not profitable. When executing clients’ orders FxPro generally offers high speed of execution. All orders received from their clients are directly executed by the company, without the need to pass them over to any third party. FxPro can therefore offer their clients the best possible prices and execution, without any additional fees or commissions. The fact that they can do so, unfortunately does not mean that they do. As stated earlier, this can also be viewed as a conflict of interest, and many traders have noticed that they get treated poorly if they are profitable, because FXPro stands to lose when its clients are profitable.

Despite offering great trading conditions on paper, price and order manipulation have been noticed on several occasions, and this is why we do not recommend trading with FXPro at this time.

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Two and Half star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Five star Customer Support Rating
Transaction costs (spreads): Five star Transaction Costs (spreads) Rating
Rollover interest rates: Three and Half star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating
Average rating: Four and Half star Average Rating

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Business Details

Broker Headquarters: Limassol, Cyprus
Regulated By: CySEC and ECB through MiFID
Client Account Segregation: Hellenic Bank, Eurobank, HSBC
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: FXPro is the counter party to all trades.
Also has offices in: London, Nice, Vienna, Athens, Moscow
Registered Business Name: FxPro
In business since year: 2006
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Credit Card $0 $0
Moneybookers $0 $0
NETeller $0 $0
PayPal $0 $0
Wire Transfer $0 $0

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Trading Conditions

Browser platform: FxPro WebTrader
Downloadable platform: FxPro Metatrader 4 (MT4)
Mobile platform: FxPro WebTrader
Phone dealing: Yes
No Dealing Desk Execution: No
Fixed spreads: No, spreads vary according to market liquidity
Guaranteed stop losses? All orders are executed at best available price.
Hedging capability: Yes - no extra margin is used.
Trading Hours: Sunday 22.00 GMT closing Friday 22.00 GMT
Timezone GMT+2
Scalping allowed: Yes
Account currencies available: CHF, EUR, GBP, JPY, USD
Platform languages: Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish
Support languages: Arabic, Chinese, English, Farsi, French, German, Greek, Hindi, Italian, Japanese, Korean, Polish, Romanian, Russian, Spanish
Demo account: Unlimited
Live chat support: Yes, very knowledgeable.
Swap-free accounts  No swap-free accounts available
Typical spread on EUR/USD: 0.8 pips (0.00008)
Order processing: Market Maker
OCO orders available: No
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
FXPro Account 500:1* $500/unlimited 10,000/unlimited
Tradeable Instruments: 105   
Automated Trading: Yes, on MT4
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market:

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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