The online broker FxPro has been on the market for ten years now and offers its clients professional access to a wide range of underlying assets and trading instruments from the Forex and CFD trading sectors. But a large selection is also waiting for the customers in the other areas. Depending on the type of trade, specific account versions are available, and the trading platform does not limit the customers of this provider to a specific version. In addition, FxPro claims to offer particularly good trading conditions thanks to the technology used. In addition to the opportunities offered by direct trading, FxPro also offers various additional services in the areas of service, education and market information.
In our current test, we have tried to find out how trading is carried out in concrete terms, what conditions investors expect, and what benefits they can derive from the additional offers. Beside the technical and contentwise details we are interested naturally also always the aspect of the security and/or the respectability of each offerer. Because traders, who decide for a certain offerer, should stand also with view of a fair completion of all transactions as well as the protection of their financial deposits on the safe side, in order to be able to concentrate completely on the substantial: The trade. Fraud or rip-off should be categorically excluded.
Our experiences with the provider FxPro at a glance
We have tested the broker and in this context have gathered a number of experiences, which we have summarized in this report. First of all, we noticed positively that this provider, despite its very broad and international positioning, is strongly committed to making every potential customer an offer tailored to his individual requirements. Against this background, beginners and newcomers as well as seasoned trade professionals can look forward to an adequate offer. Different account versions are possible. Begun of a demo account, over which with virtual capital risk-free can be traded, there is for a beginner the trade account, while intensive and professional traders can select the SuperTrader account or the Pamm account, which offer numerous additional services, trading possibilities and instruments in addition, separate conditions.
For the trade itself numerous basic products are available, which make many different variations of specific trading strategies possible. One focus is on Forex trading, where you can choose between almost 60 different currency pairs. The online broker FxPro also specialises in trading CFD products, where underlying securities from the categories equities, indices and bonds can be traded with leverage ratios of up to 1:500. In any case, the FxPro offering for trading in stock exchange products is also professional and substantive. Current market information, trading signals and automated trading can be used both via the website and the trading platforms offered. Formats such as webinars and video courses are available for the development of individual trading skills. And, of course, professional support is also offered, which is available in many different languages, including German.
With FxPro, investors have a fully-fledged and highly professional online broker at their disposal who has something to offer in all important areas.
Is FxPro serious or not?
As most investors know, in trading with innovative financial products it is not only a matter of professional and technically flawless transaction processing, but also of the measures taken by the respective provider to safeguard the interests and, in particular, the customer’s deposits. Briefly said it concerns whether it concerns a respectable offerer, to which the customers can give their confidence.
In the case of the offerer FxPro we got to know an enterprise, which is not only fair to its customers, by competitive conditions being offered, but which puts also with view of the security high yardsticks. On the one hand, customers can rely on FxPro because there has been no reason to doubt the broker’s professional approach in its 10-year history. An equally important guarantee that customers can feel safe here and do not have to fear fraud or rip-offs is the regulation by various government authorities. Thus FxPro is subject among other things to the British FCA as well as the Cypriot CySec, and is obligated to the adherence to fundamental standards.
Liquider trade to narrow spreads
If the conditions in the field of the respectability are correct, the investors can concentrate completely on the trade, and here FxPro has to offer in each case some. The investors can select from different categories of underlyings and use thereby partly flexible levers in the trade. Initially, a selection of around 70 currency pairs is available for trading on Forex, and precious metals and energy commodities can also be traded. A further category represent the futures transactions, where so-called Future products can be traded.
Besides the Forex trade the investors have the possibility of setting by CFD trade on titles from the categories shares and indices. In the area of indices, investors can choose from a well-structured selection of stocks that can be used to track the most important markets on four continents (Europe, Asia, America, Australia). A look at the available stocks shows that the approximately 150 stocks originate from the USA, Great Britain, France and Germany.
With regard to the conditions, FxPro follows the philosophy of orienting itself to the possibilities prevailing on the markets and passing these on directly to the investors. For this reason, only partially fixed conditions, i.e. fixed spreads, are offered. In the case of currency pairs, however, a total of ten of the 70 available currency pairs can also be traded at fixed spreads. During the most important trading hours, during which the highest liquidity can be expected, approximately 1.6 to 1.9 points of fixed spread are available for the most important currency pairs.
In the category of forward transactions, you can rely on the development of the most important Future products with levers of 1:50. The flexible spreads start at 0.5 points with Nasdaq or SP. The DAX30 Future comes with a premium of 2 points. In addition, European indices can be traded with leverage ratios of 1:500 to 1:50. Here, too, flexible spreads are used that are closely aligned with market spreads. The available leverage in the area of equities is somewhat lower. Flexible leverage is offered, which adapts to the capital invested by the investor. Leverage ratios of 1:25 are available for investments of less than EUR 20,000.
With levers of 1:100, energy stocks such as oil and gas can continue to be traded, where the minimum spreads are four to five points. Leverages in the precious metals category range up to 1:200.
All in all, a glance at the available underlyings and the levers and spreads offered makes it clear that the provider FxPro relies above all on a targeted selection of securities rather than on an extremely broad range. Furthermore, very good conditions can be guaranteed through access to the most important trading centres.
Aktuell No bonus for new customers
The opinions of traders on the subject of bonuses vary widely. The one orient themselves with the selection of the suitable on-line broker with priority at the fact whether at all a bonus in the form of additional commercial capital is offered. The others consider the bonus only as an apparent additional service, which is particularly suitable to motivate young and inexperienced traders to pay more into the trading account and possibly risk more in trading than they had originally planned. In the case of FxPro, there is no need for interested parties to engage in such thought games, as at least for the time being the provider does not lure new customers with the offer to provide them with additional trading capital when they open an account and deposit a certain amount into it. This at least has the advantage that investors can concentrate solely on the online broker’s offer.
More possibilities for deposits and withdrawals
One aspect of trading in exchange products that should also be given some attention is the question of how deposits and withdrawals are regulated. Two aspects are particularly important here. On the one hand it depends on how fast money can be transferred to the trading account, and/or how long it takes, until appropriate assets can be transferred back to the private Girokonto. Besides it is naturally of crucial importance, which possibilities and offerers are available for these procedures in each case, and with which costs deposits and payoffs are connected.
FxPro always provides its customers with a good selection of options. Various options can also be used free of charge. First the variant is to be selected to transfer money by bank transfer to the trading account. FxPro does not charge any fees. Experience shows that with this method, a working day delay must be expected before the process is completed. The second option available to customers is to make deposits or withdrawals by credit card or EC card. According to the company, amounts are already available on the trading account for use on the stock exchange after ten minutes. In the other direction, a working day must be expected for the transaction. Depending on the type of card, fees of between 0.35 percent and 1.6 percent must be taken into account for deposits.
The third option available for transactions to and from the trading account is the use of various online services. In addition to Paypal, Neteller, Skrill and UnionPay can be used. With the exception of Paypal, where 2.7 percent are due for deposits, all services are free of charge. When depositing, a period of ten minutes must also be reckoned with, until the money is placed on the trading account. Payments last on the average one working day.
Good standard with the security
If private fortune is to be transferred to a third offerer, it is important to know that the money is also in good hands. The decisive factor for assessing the level of security is the regulation of a company. Here customers are on the safe side, which decided for a offerer, which has its seat in the European Union, and therefore very strict regulation defaults are subject. One such provider is FxPro, which has a number of offices in addition to its UK headquarters. For this reason, the Cypriot authority CySec is also responsible for regulation, in addition to the British supervisory authority, the FCA. Against this background, investors can feel confident that the online broker is obliged to comply with common standards in order to avoid financial distress. But even in the event of bankruptcy, investors do not need to fear for their deposits in the trading account because they are in separate accounts and are therefore protected by the government deposit guarantee funds. Thus fraud or Abzocke can be definitively excluded.
Customer service on high level
Also within the range service and Support has the offerer FxPro an extensive and contentwise very tidy offer. Since the on-line broker is internationally very broadly set up, special contact possibilities are offered for different countries. German-speaking customers have their own hotline at their disposal, which can be called around the clock from Monday to Friday. Besides the investors also have the possibility of taking up contact over a live Chat and of assigning a free recall service.
However not only regarding the technical support a tidy offer is available. Also for the strategic advancement of the abilities of each investor different formats are offered. Begun of a demo account also a restaurant calendar can be taken up as well as Webinars and video training courses in requirement.
Clearly structured structure of the website
With the many offers that the online broker makes available to his customers, it is of course crucial that these can also be found quickly and used easily. It is thus important that the offerer offers also with its appearance in the net a well thought out and clearly structured offer, with which the customers find fast to the searched contents. With regard to the structure, this project has been successful in every case, but the presentation of conditions and trading opportunities is sometimes so extensive that it can be confusing. Here the offerer presupposes obviously good previous knowledge and a patient comprehensiongabe of its customers. Also a mobile App is offered
It must not be mentioned probably extra that the offerer FxPro as professional on-line Broker offers also the possibility to participate mobile in the trade with the different financial products to its customers. In addition to the possibility of trading with the mobile device, we would also like to draw attention to the various additional tools that FxPro offers its customers for trading. With the dashboard, important additional information from the markets can be obtained and used. This gives the trader an up-to-date overview of which products are currently being traded particularly strongly. In addition, instruments can be used that enable targeted market observation and, last but not least, there is the possibility of using a blog to profit from exclusive assessments.
Fazit – Many opportunities around trading at FxPro
With the provider FxPro, we have tested a trading specialist who plays off his professional skills above all in trading with Forex products as well as in CFD trading. On the basis of one of the small, but quite sufficient selection of underlyings, fast trading with partly flexible leverage and favourable spreads is possible. Investors also have a choice with FxPro when choosing the right account and the platform, where they can choose between three versions. The possibilities offered in the area of mobile trading also contribute to the fact that this provider can be recommended. As FxPro is regulated both in the UK and Cyprus, investors can also rely on a fair and reputable business policy that leaves no room for fraud or rip-off.
The online broker FxPro also has a demo account. This has helped me a lot in the development of knowledge and experience in trading to familiarize myself with the particularities that CFD trading brings with it.
written 38 months ago