FxPro Review

FxPro Review



FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions).To get more news about fxpro review, you can visit wikifx.com official website.

The range of symbols available at FxPro will largely depend on your chosen trading platform. For traders that choose to use MetaTrader’s suite of platforms, FxPro offers over 400 CFDs, including forex, shares, indices, metals, and cryptocurrencies, compared to roughly 100 for its cTrader offering. There are also thousands of shares available to trade in FxPro’s BnkPro app, though it isn’t yet fully available globally. The following table summarizes the different investment products available to FxPro clients.

Cryptocurrency: Cryptocurrency trading is available at FxPro through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
FxPro's pricing is higher than the industry average, putting it at a disadvantage compared to industry peers like Pepperstone or IC Markets, who both also offer the full MetaTrader and cTrader suites.
Execution method: On FxPro’s MT4 offering, traders can choose variable or fixed spreads. For the variable-spread pricing, there are two types of execution-based pricing: instant and market. Instant execution is subject to requotes but no slippage, while market execution has the potential for slippage – but without requotes.

Commissions: FxPro’s most competitive spreads are available on its cTrader platform, which features commission-based pricing. FxPro's effective spread for trading the EUR/USD pair on cTrader is roughly 1.27 pips. This figure takes into account FxPro’s average spread (from August 2020) of 0.37 pips, as well as a 0.9 pip commission-equivalent.

Spreads: FxPro's floating-rate (variable spread) model is available on MT4 and MT5, featuring EUR/USD spreads of 1.58 for accounts on market execution (1.51 pips on MT5), and 1.71 for accounts with instant execution – as per FxPro’s data from August 2020.
Apps overview: FxPro provides its own proprietary FxPro Edge app for trading, account management, and basic market news, as well as a third-party mobile lineup designed by the same providers that power its desktop and web-based platforms: MetaTrader (MetaQuotes) and cTrader (Spotware). FxPro also offers the BnkPro app for share trading, which will eventually include a Mastercard debit card and banking service – but the app has not been fully rolled out globally.

Ease of use: FxPro Direct is FxPro's proprietary mobile app, which supports trading for users that have a CFD account, but is mainly optimized for account management. It features charts, but with no drawing tools and virtually no indicators (other than volume data). The FxPro Edge platform is only available for mobile as a browser-based experience – it can’t be installed as a standalone app. While FxPro Edge provided a smooth user experience, the option to download the platform for Android and iOS would be a welcome addition.
Due to the availability of MetaTrader, cTrader, and its own proprietary FxPro Edge web platform, traders at FxPro have a diverse selection of platform options that support a variety of trading styles. While FxPro Edge clearly trails platform leaders such as Saxo Bank, CMC Markets, and IG, it’s a good foundation for future improvements, and helps FxPro stand out from the crowded field of MetaTrader-only brokers.

Platforms overview: FxPro offers three platforms in total: FxPro Edge, MetaTrader, and cTrader. FxPro Edge is FxPro’s in-house web-based platform, which features robust charts and a responsive design. The full MetaTrader suite (MT4 and MT5) is also available for web and desktop, along with the FxPro cTrader platform and the cAlgo desktop app for algorithmic trading.

Charting: The FxPro Edge platform features smooth charting, with 53 indicators and several selectable chart types. For comparison, cTrader has 76 indicators and dozens of drawing tools, and boasts a sleeker charting experience than you’ll find with MetaTrader.