Introduction
FXProFinancialServices.com is a forex broker that is headquartered in the United Kingdom. The company is regulated by the Financial Conduct Authority (FCA), and it offers a variety of trading platforms and instruments to its clients. In this FXProFinancialServices.com review, we will take a look at the company’s regulation, trading platforms and instruments, pros and cons.
About FXProFinancialServices.com
Founded in 2006, FXPro is an online broker offering forex and CFD trading services. The company is headquartered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC).
FXPro offers the MetaTrader 4, MetaTrader 5, cTrader and SuperTrader platforms. The broker also provides mobile trading apps for Android and iOS devices.
FXPro offers a wide range of tradable instruments including forex pairs, cryptocurrencies, commodities, stocks, indices and ETFs.
Pros: Regulated by CySEC. MetaTrader 4, MetaTrader 5 and cTrader platforms available. Mobile trading apps available. Wide range of tradable instruments. Negative balance protection offered.
Cons: Limited education resources. High minimum deposit requirement for certain account types.
Regulations
When it comes to forex brokers, regulation is important. After all, you are entrusting your money with this broker, so you want to make sure that they are regulated by a reputable authority.
FXPro is regulated by the Cyprus Securities and Exchange Commission (CySEC), as well as the UK Financial Conduct Authority (FCA). This means that they are subject to strict financial regulations, and are required to maintain segregated client funds.
In addition, FXPro is a member of the Investor Compensation Fund (ICF), which provides protection for up to €20,000 per client in the event that the broker becomes insolvent.
So, what does this all mean for you? Well, it means that you can trade with FXPro with peace of mind knowing that your funds are safe and protected.
Trading Platforms and Instruments
As its name suggests, FXPro is a broker that specializes in foreign exchange trading. The broker offers two main types of trading platforms – the MetaTrader 4 (MT4) and the cTrader. Both platforms are available as desktop, web-based and mobile versions.
The MT4 is the most popular forex trading platform in the world and is ideal for experienced traders who require advanced charting and analysis tools. The cTrader is a newer platform designed specifically for currency trading and provides an user-friendly interface with more simplistic charting tools.
In terms of instruments, FXPro offers tradeable assets including major, minor and exotic currency pairs, precious metals, CFDs on indices, energies and shares. Overall, the broker provides a good selection of tradable products to its clients.
Pros and Cons
Pros:
-FXPro is a regulated broker, authorised and supervised by several financial authorities including the FCA in the UK, CySEC in Cyprus and the South African Financial Services Board
-The broker offers its clients a choice of five different trading platforms including the popular MetaTrader 4 and cTrader as well as its own proprietary web-based and mobile trading platforms
-A wide variety of instruments are available for trade including forex, spot metals, futures, shares, spot indices and cryptocurrencies
Cons:
-Although FXPro is a regulated broker, it has been involved in some controversies including being fined by CySEC for violating rules regarding order execution and client money protection
-The broker has been criticized for its high spreads which start from 1.8 pips on majors although this is not unusual for a ECN/STP broker
Conclusion
All in all, FXPro is a reliable and regulated broker that offers a great selection of trading platforms and instruments. The company has its pros and cons, but overall we believe it to be a good choice for both beginner and experienced traders.