FxPro cTrader Review
This FxPro cTrader review is aimed to be digestible for anyone to quickly gain insight into the past and present of a cTrader Broker and what makes them one of the best cTrader brokers out there. We don’t just look at spreads and commissions. We also sentimental factors which do add to the overall experience you will have when trading with a cTrader broker. Sentimental factors include the history and heritage of the company, which are often overlooked and all importantly, in the context of the cTrader platform. Don’t forget to check the other brokers featured on our website as well. Is FxPro the best cTrader broker, let’s find out.
What we Like Most about FxPro
FxPro is one of our favourite cTrader brokers, for a variety of reasons;
- They were the first broker to recognise the potential of cTrader and the vision of the company and it’s Traders First approach, as traders, we like that approach.
- FxPro’s customer support team are well qualified when it comes to dealing with cTrader related enquiries. This is natural since they have the most experience in offering the platform.
- They upsell cTrader by prioritising it in their banners and ads (makes sense, it looks a hell of a lot better than MT4) and give cTrader equal presence on their website to other platforms.
- 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 best we have seen.
About the Company
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 shows that the company has a global presence and takes regulation seriously. This is something which can’t be said about many other brokers.
|Year Established||2006 (12 Years Active)|
|Year Started Offering cTrader||2011|
|Regulation||Cyprus (CySEC) - Since 2007|
UK (FCA) - Since 2010
South Africa (FSB) - Since 2015
Bahamas (SCB) - Since
United Arab Emirates (DFSA) - Since 2017
|Number of Employees||200+|
|Active Sponsorships||Watford Football Club (2017/18 Season)|
McLaren F1™ Team
|Previous Noteworthy Sponsorships||Fulham FC Official Main Team Sponsor|
Aston Villa FC Official Main Team Sponsor
|Banking Partners||Barclays, RBS, Bank of America, Emirates NBD|
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 in cTrader than inside their MT4 offering.
|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%|
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.
|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|
Tools, Education and Support
FxPro offers a variety of useful tools to support their clients trading needs, we like them! These tools definitely contribute to possibly making them the best cTrader broker.
Trading Central is a popular tool that forex brokers can offer to clients. In the case of cTrader, Trading Central (where it’s offered by the broker) comes pre-installed, unlike MT4 where you need to install a plugin to use the feature, which can be a bit inconvenient for new traders who will probably have the most to gain for this tool. The biggest benefit of this tool in cTrader is that it’s fully actionable, with a single click you can place a market order with a Take Profit and Stop Loss according to the trade prediction and support and resistance levels from Trading Central.
While most forex brokers do offer a free VPS service (if certain conditions are met), FxPro charges $30 per month to use theirs. However, it does come from the very well known provider, BeeksFX, whose servers are located in the same Equinix datacentre as cTrader, which makes it a natural choice for cTrader Automate (previously known as cAlgo) traders. According to the BeeksFX website, the same specification package is £27, so there is a small saving if going through FxPro to get this service.
FxPro Quant Strategy Builder
This is a very, very cool tool that a lot of brokers don’t offer and it certainly impresses us! In short, this is a drag and drop trading robot creator, think visual composer plugin for WordPress or a mind map tool but connecting trading ideas. Without going into too much technical detail, here is what you need to know:
- There is a mode specifically for creating cBots for cTrader.
- There are several examples to help you get started
- It works in your web browser, so the strategy builder is platform neutral
- There are videos, user guides and an FAQ section about the tool
- You can start using the tool without signing up
*Varies by Entity: This means that this information might not be the same across all jurisdictions and regulatory environments serviced by this cTrader broker.