FxPro cTrader Review for Beginner Trader. Leading Forex and CFD broker. The review includes cTrader and Webtrader platforms and direct login MT4 integration.
FxPro is a world-leading online forex and CFD broker. The brokerage facilitates 24/5 trading with 6 different asset classes and over 260 different financial instruments.
This Review of FxPro cTrader will look at both the benefits and the drawbacks, including trading platforms, demo accounts, fees, and additional trading tools, before wrapping up with a final verdict.
FxPro cTrader allows you to trade with access to the full depth of the market, as well as to volume information per instrument.
For those seeking Market Execution and an added level of market resolution, cTrader has everything you need from a forex trading platform, and more.
FxPro cTrader Desktop
Key features: Spreads from 0 pips, Full market depth, No restrictions on stop/limit levels, Full Market Execution.
Download FxPro cTrader for PC: http://fxpro.ctrader.com/ctrader-FxPro-fxpro-setup.exe
FxPro cTrader Web
FxPro cTrader Web brings all the benefits of true ECN trading right to your browser. Now you can log in to your cTrader account wherever you are, without having to install any software.
Take advantage of FxPro’s trading advantages, with full market depth and trade volume information, open and close positions with a single click, and never miss another opportunity again.
Visit FxPro cTrader Web: http://ct.fxpro.com/
FxPro cTrader Mobile
Try the cTrader mobile application and experience trading on the go. Now you can access your cTrader accounts from any iOS or Android device and benefit from the same ultra-low latency trading infrastructure that FxPro prides itself on.
Download FxPro cTrader for Android and iOS:
A Brief History
Volume and experience account for a lot, and FxPro promises both. The brokerage came to life in 2006 and has since asserted itself as a leader in the forex space.
It has expanded to offer direct trading to customers from over 170 countries. Along the way, the company has picked up over 85 prestigious international awards.
Their expansion has also led to the creation of offices in London, Cyprus, and the Bahamas. Note FxPro Financial Services Limited is actually owned by the FxPro Group Limited.
FxPro Group Limited is the holding company of:
- FxPro UK Limited, authorized and regulated by the Financial Conduct Authority (registration no. 509956).
- FxPro Financial Services Ltd, authorized and regulated by the Cyprus Securities and Exchange Commission (license no. 078/07) and authorized by the Financial Sector Conduct Authority (‘FSCA’) (authorization no. 45052).
- FxPro Global Markets Ltd, authorized and regulated by the SCB (license no. SIA-F184).
Furthermore, traders from the UK and the EEA are protected under the Financial Services Compensation Scheme (FSCS) and Investors Compensation scheme respectively.
If you register for the FxPro trading system there is a reasonable chance you will have come across their sponsorship of sports teams and events, including Fulham, Aston Villa, and Watford FC in the past.
The partners and over 200 employees continue to back local communities with their revenue.
FXPro Facts and Figures
Multi-Award winning broker. Specializing in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
- Instruments: CFDs on Forex, Metals, Indices, Energies, Futures Shares
- Demo Account: Yes
- Min Deposit: $100
- Payment Methods: Credit Card, Neteller, PayPal, Skrill, UnionPay, Wire Transfer
- Min Trade: 0.01 Lots
- Regulated By: CySec, FCA, SCB, FSCA
- MT4 and MT5: Yes
- CTrader: Yes
- ECN, STP, DMA Account: No
- Mobile Apps: IOS, Android, and Windows
- Margin Trading: No
- Auto Trading: Allowed
- Social Trading, Copy Trading, Trade Signals: No
- Islamic Account: Yes
- Account Currencies: USD, EUR, GBP, AUD, JPY, ZAR, CHF
- FTSE Spread: 1.58 Pts (Ave)
- GBPUSD Spread: 2.39 Pips (Ave)
- Oil Spread: 0.07 (WTI Ave)
- Stocks Spread: Variable
- Leverage: 1:200
- GBP/USD Spread: 2.39 pips (Ave)
- EUR/USD Spread: 1.58 pips (Ave)
- EUR/GBP Spread: 1.74 pips (Ave)
- Assets: 430+
FxPro offers retail cryptocurrency CFD trading on 18 of the most popular tokens in the Defi world.
- Spread: Variable
- Coins: BAT, BCH, BTC, DOG, DOT, DSH, EOS, ETC, ETH, IOT, LNK, LTC, NEO, XLM, XMR, XRP, ZEC
Markets and Instruments
Customer review and ratings are positive of the breadth of products on offer. Users can trade-in:
- Stock CFDs: 2000+
- Futures: 24 contracts
- Spot Metals: 7 precious metals
- Spot Energies: 3 energy commodities
- CFDs for Currency Pairs: 70 FX pairs
- Market Indices: 19 spot market indices
- Cryptocurrency CFDs: 18+ (non-UK only)
The broker’s extensive selection of global stock CFDs is particularly impressive. Clients can diversify their portfolios with assets from a range of industries and countries.
Note you cannot trade in binary options and spread betting is only available to UK customers.
Minimum Initial Deposit
The minimum deposit at FXPro is just $100. However, the brokerage does advise making a minimum deposit of $500 to $1000.
Spreads and Commissions
Spreads are competitive but depend mostly on the type of trading account held and asset traded. For example, with the MT4 account, minimum fixed spread quotes are around 1.2 pips.
With an MT5 account and FxPro cTrader account, minimum live spreads are 1.4 and 0 pips. Opt for a Markets account and spread quotes start at 1.2 pips.
On top of the spread, a commission charge of $45 is in place per million USD traded.
Traders also have the option of margin trading, requirements for which will depend on your account type.
Trading with gold leverage, for example, allows you to increase your position size and capitalize on potential opportunities in gold prices.
However, there are also risks. Leveraged trading can accelerate losses as well as gains. FXPro does offer negative balance protection, however, so clients cannot lose more than the initial deposit.
The maximum available leverage is 1:200 (at FXPro Global Markets Limited only). Pro Clients can access leverage up to 1:500. See the official website to plug your details into a leverage calculator.
There are some changes to be aware of. For example, overnight and rollover rates will see you pay $8.13 for EUR/USD long positions, while the short positions come with a $2.23 charge.
There is also an inactivity fee should an account be left dormant for an extended period. There are no fees for making a withdrawal.
Overall FxPro spreads and fees are competitive and of good value when you take into account the range of trading tools and resources available.
Having said that, FxPro cTrader could improve its offering by introducing some welcome promotions and deposit bonuses. Note: FxPro acts as a market maker applying a non-dealing desk intervention execution model.
FxPro Trading Platforms
MetaTrader 4 and MetaTrader 5
Once you have your direct account login details you can choose from a number of trading platforms. FxPro offers the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Head to the official website for a link to instantly download both platforms.
Both systems receive glowing customer reviews, promising reliability, multiple order types, and negative balance protection. Furthermore, they support automated trading through Expert Advisors (EAs).
Their diversity also means they will work for trading on the news, scalping systems, and with other techniques.
In addition, you can now use MT4 WebTrader to log in to all accounts whatever your location. You can also download Autochartist as a plugin to benefit from their advanced trading tools.
Although whether MetaTrader systems are good or bad will depend on who you ask, the majority of traders agree they are comprehensive, thorough, and more than capable of meeting the needs of most users.
Head to the FxPro Trading Academy to find MetaTrader 4 tutorials for Mac and Windows users.
Feedback from the cTrader users is also fairly positive. The free cTrader system platform download was designed for CFD traders. As a result, you can place orders while retaining a clear view of market depth.
The platform will work for Mac users and on Windows desktops. You also benefit from rapid execution speeds.
FxPro Edge is the latest addition to the FXPro platform offering. It provides investors with a new way to trade the markets.
It is a highly customizable web-based platform, which enables traders to place their orders without the need to download and install any additional software.
FXPro Edge (Spread Betting) is only available to clients of FxPro UK Limited that reside in the United Kingdom. This is a separate platform from FXPro Edge.
FxPro Edge is available for all demo users:
- Forex, Shares, Spot Indices, Spot Metals, and Spot Energies
- Limited Risk Account at no additional cost
- No commission
- Tight spreads
- Tax-free (tax laws are subject to change and depend on individual circumstances).
Unsurprisingly, platform reviews overall are positive and praise the numerous options available.
Mobile Apps Trading
Reviews and ratings of FxPro’s mobile offering are positive. They offer iOS and Android trading apps for mobiles and tablets.
Once you sign up, simply head to the iOS App Store and Google Play Store to download the relevant app. You have access to three mobile apps:
- 1. FXPro App
- MT4 for Mobile
- MT5 for Mobile
- FxPro cTrader for Mobile
The apps are reliable and give you access to nearly all the same features and functionality of the desktop-based platforms. In fact, you can:
- Conduct daily technical analysis with over 50 technical indicators
- Manage your positions from widgets within your smartphone
- Get commentary on the US dollar (USD) index and more
- View and interpret historical data
- Set up signals and alerts
- Browse the EA library
Overall, reviews of the mobile apps are good. Users get to benefit from the same ultra-low latency trading infrastructure of the desktop platforms.
Furthermore, the iPhone, iPad, and Android apps can work to supplement your desktop platform or for trading directly from.
You get a choice of four live trading accounts with FxPro, below is an account breakdown and comparison:
- FxPro MT4: You can trade on currency pairs, equities, market indices, metals, and energies. In addition, EAs are supported. You also benefit from fixed and floating spreads. On top of that, you have instant market execution and maximum leverage of 1:500. (Note: Retail clients under CySec and FCA will have maximum leverage of 1:30, Professional clients 1:500 and SCB jurisdiction clients 1:200)
- FxPro MT5: These accounts are fairly similar but use a different platform. You get all the same markets and instruments, and then Market execution and floating spreads.
- FxPro cTrader: You get nearly all the same instruments, apart from equities and futures. In addition, you have algorithmic trading through cAlgo.
For fixed spread accounts, you may want to opt for the MT4 option. Having said that, all promise straightforward account ownership and management. Rankings will depend on individual requirements and personal preferences.
Note FxPro does not offer ECN managed or micro-accounts. Reviews nonetheless are positive about the number of account options available. In fact, many competitors offer just one live account option.
You can also open a FxPro demo account. Once you log in you have $500,000 in virtual cash to play around with. You can download various demo platforms, including MT4, MT5, and cTrader.
The demo server makes for a great central trading hub to get familiar with markets and develop strategies. Then when your confidence has grown you can upgrade to a live account. There are even occasional demo contests where you can put your practice to the test against other traders.
Contact customer support if your MetaTrader 4 or 5 demo account is disabled.
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FxPro cTrader Benefits and Bonus
There are a number of reasons to sign up for a trading account with FxPro, including:
- Demo account: The broker promises a free demo account where prospective users can test drive the platforms.
- Global stock CFDs: More than 2,000 global share CFDs from a range of industries and countries are available on the MetaTrader 5 platform.
- No dealer intervention: Traders can benefit from tight spreads, high liquidity, and zero slippage on Instant Execution.
- Automated trading: EAs can be used to capitalize on algorithmic trading and scalping strategies.
- Trading tools: FxPro offers a range of advanced tools and indicators. On top of that, you get a choice of MT4, MT5, cTrader, and FxPro Edge.
- FxPro Academy: From webinars and user guides to tutorial videos and PDFs, users can benefit from top tips and guidance from traders with years of experience.
- Product list: FxPro offers access to a wide range of markets and instruments. In fact, they now allow users to speculate on cryptocurrencies, such as Bitcoin (BTC/USD) and Ethereum (ETH/USD).
- Commentary & Analysis: When you take FxPro vs HotForex, AvaTrade, and IG, you realize the former offers a wealth of in-depth daily market commentary. On top of that, you get network sharing and technical analysis support.
- Customer service: FxPro promises numerous customer support channels in nearly 20 different languages. This offering vs Plus500, Pepperstone, eToro, and other alternatives demonstrates their commitment to aiding customers, particularly beginners.
- Account flexibility: You can hold an account with nearly every widely-used currency: EUR, USD, GBP, CHF, JPY, PLN, AUD, ZAR (FxPro Financial Services Limited); EUR, USD, GBP, CHF, JPY, PLN, AUD (FxPro UK Limited); EUR, USD, GBP, CHF, PLN, ZAR, JPY, AUD (FxPro Global Markets Limited). In addition, Islamic swap-free accounts are available.
FxPro Trading Hours
Forex trading hours are 24 hours per day, kicking off at 22:00 Sunday and closing at 22:00 Friday (GMT time). Other products follow industry-standard market hours. Then when you log on, opening hours will appear depending on your MT4 server time zone.
See the official FxPro website for holiday trading hours and specific products, such as gold trading hours.
FxPro has recently expanded its cryptocurrency training hours from weekdays only to 24/7 to allow retail traders unbridled access to the Defi markets.
So is FxPro a good broker? Despite some differing opinions, the vast majority agree the broker provides all the resources required to build a highly profitable system.
In particular, user reviews were positive about the choice of accounts and platforms, not to mention the transparent fee structure and reliability. Overall then, FxPro makes for a worthy home for traders of all experience levels.
For further guidance, see our brokers list.
FxPro cTrader Broker accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Traders can not use FXPro from Iran, the United States, Canada, Zimbabwe, Myanmar, New Zealand, Iraq, and several others.
FxPro cTrader is a multi-Award-winning forex broker. Specializing in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
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