|Broker Rating||#23 (69%)|
|Company||FxPro Financial Services Limited|
|Founded and online since||2006|
|Min. Account Size||500 USD|
|Min. Position Size||0.1|
|Regulated by||ASIC 405750, CySEC 078/07, FCA (UK) 509956|
|Platforms||MetaTrader 4, Web Trader (SerSart), Mobile Trader (SerSart), Mobile Trading Platform, cTrader|
|Account currencies||USD, EUR, GBP, AUD, CHF, JPY, PLN|
|Support available in|
|VPS for traders||FxPro VPS just $30 a month. Free for FxPro VIPs.|
FxPro was founded in 2006 in Cyprus. In 2009 FxPro began its expansion with the opening of representative offices in Austria, France, Spain and Russia. In 2010 FxPro was granted regulation and licensing by the UK’s Financial Services Authority and opened its London office.
In 2011 the company opened an office in Australia, however it shut this down in March 2013 and moved those clients to its cyprus and UK operations after new capital regulations came into force in Australia. In 2011 FxPro started offering Electronic Communication Network (ECN) trading access to some of its clients.
In 2012 FxPro moved away from being a market maker in favour of a no dealing desk (NDD) or agency model. This means that trades are now passed straight through to liquidity providers.
FxPro Trading Facilities
The company provides traders a choice between the MetaTrader 4 and cTrader trading platforms. Clients using the MT4 platform from MetaQuotes Software also have the option of a web-based alternative, and several mobile trading versions. The company’s cTrader platform (from Spotware Systems), provides ECN traders with greater price depth and Volume-weighted average price (VWAP). cTrader is compatible with cAlgo, an algorithmic trading platform that allows clients to create trading robots and run them in cTrader so as to fully automate the trading process.
Since 2013 the company has been engaged in making algorithmic trading accessible to the retail sector. It launched Quant, a web-based strategy-building solution for the MT4 platform that allows users to create their own trading robots (called Expert Advisors) using a drag and drop interface, or to download them from the company’s EA library. Quant, unlike cAlgo which requires knowledge of C#, enables users to create automated strategies using technical indicators and logical operators without any prior coding knowledge.
FxPro Financial Services Limited is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). In 2007 the EU’s Markets in Financial Instruments Directive (MiFID) came into effect. This allows firms that are regulated in Cyprus to provide investment services anywhere within the European Union.
FxPro UK Limited, a wholly owned subsidiary of FxPro Group Ltd, is licensed and regulated in the United Kingdom by the Financial Conduct Authority. FxPro UK Limited formerly acted as an introducer to its parent company and did not provide any brokerage services or hold client funds until June of 2012, when the company upgraded its FSA license so it could accept UK clients.