FxPro cTrader Review

Introduction to FxPro Review

This FxPro cTrader review has been written to be digestible and informative for anyone to quickly gain insight into the past and present of a cTrader broker. We look at what makes them one of the best cTrader brokers out there and if it’s worth your time to consider opening an account with them. When we review forex brokers, we don’t just look at spreads. We also consider sentimental factors which do ultimately add to the overall experience you will have when trading with any forex broker. These factors include the history and heritage of the company, which are often overlooked and all importantly, in the context of the cTrader platform. 

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Pros and Cons of FxPro

FxPro is one of our favourite cTrader brokers, for a variety of reasons, mainly because they were the first broker to offer the cTrader platform. This makes them true forward thinkers. They were ready to pilot a new platform in order to test and then offer products that are in the interest of their clients. Let’s firstly explore the positives of FxPro. 

  1. FxPro was the first broker to recognise the potential of cTrader, the vision of the company (Spotware) and it’s Traders First approach. As traders, we like that approach.
  2. FxPro’s customer support team are well qualified when it comes to dealing with cTrader related enquiries. That’s natural since they have the most experience in offering the platform. 
  3. They upsell cTrader by prioritising it in their banners and ads (makes sense, it looks a hell of a lot better than MT4). They also give cTrader equal presence on their website to other platforms that they offer.  
  4. FxPro’s client area (FxPro Direct) is well designed and easy to use once you understand the concept of the vault. It’s one of the better client zones we have seen.

Here are some of the negatives of trading with FxPro. 

  1. FxPro is expensive. To open and close 1 Lot of EURUSD, it will cost almost $10. This is terrible for scalping and such a shame considering cTrader is a great platform for scalping and building bots. 
  2. After FxPro’s big website update, finding information has proven difficult. Yes, the website looks minimalist, artistic and super cool, but it was almost impossible to find out how much their commissions are or what account types they offer. Imagine if Amazon didn’t have any prices. 
  3. They are really unhelpful and unresponsive to partners and affiliates. This is a shame. Especially since there are probably many affiliates that are interested in partnering with a well established and reputable brand like FxPro. 

About FxPro

This section provides some insight into the stature of FxPro and it’s level of good standing. One thing that stands out about FxPro is their wide range of regulatory jurisdictions. This highlights that the company has a global presence and takes compliance and regulation seriously. Whether these licenses are maintained simply to flaunt in marketing and PR alongside their huge number of awards as well as their past and present sponsorships is something we will never find out. However, that doesn’t change the fact that the company is able to meet and maintain the obligations associated with those licenses is impressive. 

Year Established2006 (12 Years Active)
Year Started Offering cTrader2011
RegulationCyprus (CySEC) – Since 2007

UK (FCA) – Since 2010

South Africa (FSB) – Since 2015

Bahamas (SCB) – Since 

United Arab Emirates (DFSA) – Since 2017

Number of Employees200+
Active SponsorshipsWatford Football Club (2017/18 Season)

McLaren F1™ Team

Previous SponsorshipsFulham FC Official Main Team Sponsor

Aston Villa FC Official Main Team Sponsor

Banking PartnersBarclays, RBS, Bank of America, Emirates NBD

More about FxPro

FxPro Trading Conditions 

This section explains the trading conditions offered by FxPro specifically for the cTrader platform. While FxPro does charge commissions in cTrader, their spreads are much more competitive than inside their MetaTrader 4 offering. All in all, FxPro has 4 trading platforms, cTrader, MetaTrader 4, MetaTrader 5 and FxPro Edge. The FxPro Edge platform is their spread betting platform, which at the moment is only in beta mode. 

Maximum Leverage*:Up to 1:500 
Asset Classes*:Forex, Metals, Energies, Indices
Total Number of Trading Pairs*:103
Trading Commissions:$45 per $1million traded
Minimum Deposit:There is no minimum deposit, but $500 is recommended.
Spreads: 0.3 Pips Average
Stop Out Level:30% to 50%

Accessibility to FxPro Services

Since FxPro is regulated in 5 jurisdictions, each with high standards, their accessibility to users around the world is quite broad. It’s worth noting some of their entities have limited deposit options, we suggest double checking those before you sign up. For example, FxPro UK only offers methods to fund your trading account via bank transfer of bank cards. Whereas FxPro Cyprus also offers Skrill, Neteller, PayPal and Union Pay. Also, FxPro offers a huge number of languages on their website. 

Countries Excluded:USA, Canada, Iran
Deposit Options*:Wire Transfer, Visa, Mastercard, PayPal, Skrill, Neteller, UnionPay
Withdrawal Fees:No (unless you deposit and do no trade)
Social Trading (cTrader Copy):Not Available

FxPro Edge for Spread Betting

Despite the fact that cTrader support Spread Betting, FxPro has decided to use another trading platform to offer spread bets. It’s not clear if they developed it themselves or outsourced it, however, it looks like they followed the style of cTrader as they designed it. The platform is only available to clients of FxPro’s FCA regulated entity in the UK and exclusively available for residents of the United Kingdom. However, anyone can try out the platform in Beta mode. 

Opening an Account with FxPro

Opening an account with FxPro was a very smooth experience. It looks like the company has invested a lot of time, money and attention to make the onboarding process as streamlined as possible. There was no point when we were confused about what to do or how to do it. Every instruction is well explained. After uploading a passport and a bank statement on a Saturday evening, our account was approved after approximately 12 hours, on the following Sunday morning. This was very impressive. 

FxPro Verify Account
Upload Documents in FxPro Direct

FxPro Direct Client Zone

FxPro’s client zone is called FxPro Direct. Just like their website, the client zone is very minimalist. Not a lot of buttons or controls, a lot of white space and the bare minimum needed to let you do what you need to do. This area lets you upload documents, create live and demo trading accounts, make deposits, withdrawals and transfers and manage your language settings, change your password 

Create FxPro Account
Create Account in FxPro Direct

FxPro Trading Tools

When you are logged into FxPro Direct, there is a section called Tools. Here you can access a bunch of tools which FxPro has arranged for their clients. These tools include a dashboard, Trading Central, Squawk, Economic Calendar and a variety of trading calculators. 

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