FxPro Review
Overall, FxPro is very competitive regarding its trading fees and spreads. FxPro is a multi-regulated forex broker headquartered in London. FSA, CBCS, FSC, FSC BVI, FSCA, CEC, and FCA regulate FxPro. FxPro has an overall Trust Score of 90% out of 100% and is currently not regulated by the Central Bank of Botswana.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 1321 BWP
Regulators
CySec, FSCA, FCA
Trading Desk
FxPro Trading Platfrom
Crypto
Yes
Total Pairs
70+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FxPro Review – 34 key points quick overview:
Summary
👉 Overall, FxPro is considered low-risk, with an overall Trust Score of 90 out of 100. FxPro is licensed by one Tier-1 Regulator (high trust), two Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). FxPro offers four retail trading accounts: Standard Account, Pro Account, Raw+ Account, and ECN Account.
FxPro At a Glance
| 🏛 Headquartered | London, England |
| 🌎 Global Offices | United Kingdom, Cyprus, South Africa, the Bahamas, Mauritius |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2006 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ Regulation | FCA, CySEC, SCB, FSCA, FSC |
| 1️⃣ Tier-1 Licenses | Financial Conduct Authority (FCA) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) • Financial Sector Conduct Authority (FSCA) |
| 3️⃣ Tier-3 Licenses | • The Securities Commission of the Bahamas (SCB) • The Financial Services Commission (FSC) |
| 🪪 License Number | • United Kingdom – 509956 • Cyprus – 078/07 • Bahamas – SIA-F184 • South Africa – FSP 45052 • Mauritius – GB21026568 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | Yes |
| ✔️ Regional Restrictions | The United States, Canada, Iran |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 4 |
| ✔️ PAMM Accounts | Only MAM |
| 💻 Liquidity Providers | None |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market Execution |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | $7 Round turn on Forex |
| 💰 Decimal Pricing | Up to 5 digits after the comma |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 50 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:500 |
| 📊 Leverage Restrictions for Botswana? | Yes, Botswanans can only use leverage up to 1:400 |
| 💳 Minimum Deposit (BWP) | 1,300 BWP ($100) |
| ✔️ Botswana Pula Deposits Allowed? | No |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based FxPro customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Bank Transfers • Credit/Debit Cards • Neteller • PayPal • Skrill • UnionPay |
| 💻 Minimum Withdrawal Time | 1 – 7 business days |
| ⏰ Maximum Estimated Withdrawal Time | 7 business days |
| 💳 Instant Deposits and Instant Withdrawals? | Yes |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • cTrader • FxPro App |
| 💻 Tradable Assets | • Forex • Futures • Indices • Shares • Metals • Energies • Cryptocurrency CFDs |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | No |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Spanish, French, German, Italian, Polish, Czech, Hungarian, Swedish, Bulgarian, Finnish, Lithuanian, Danish, Croatian, Estonian, Norwegian, Romanian, Russian, Dutch, Portuguese, Indonesian, Malay, Vietnamese, Thai, Arabic, Korean, Chinese (Simplified), Chinese (Traditional), Mongolian, Japanese |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | Yes, via Email, Live Chat, and Telephone |
| 💸 Bonuses and Promotions for Botswanans? | Yes |
| 📚 Education for Botswana beginner traders | Yes, App |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Currently unknown |
| ✔️ Is FxPro a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for FxPro Botswana | 8/10 |
| 🥇 Trust score for FxPro Botswana | 90% |
| 👉 Open Account | 👉 Open Account |
Analysis of FxPro’s Main Features
| ➡️ Order Execution | 4/5 |
| ➡️ Commissions and Fees | 4/5 |
| ➡️ Range of Markets | 4/5 |
| ➡️ Variety of Markets | 4/5 |
| ➡️ Withdrawal Speed | 4/5 |
| ➡️ Customer Support | 5/5 |
| ➡️ Trading Platform | 4/5 |
| ➡️ Education | 4/5 |
| ➡️ Research | 4/5 |
| ➡️ Regulation | 5/5 |
| ➡️ Mobile Trading | 4/5 |
| ➡️ Trust Score | 90% |
Top 3 FxPro User Reviews
➡️ Farrah Potts (January 2023) “In my opinion, FxPro is the best broker I have encountered thus far. Having used several brokers over the past two years, FxPro offers the best spread, execution, deposit, and withdrawal services. In addition, while FxPro does not offer bonuses, they are faultless in this regard.”
➡️ Jared Roman (January 2023) “I have traded with FxPro for two months and found that their spreads suit my trading system. Deposits and withdrawals with Skrill are free, and I have found their customer service very convenient.”
➡️ Fraser Fuller (December 2022) “I am extremely pleased with FxPro’s services, particularly their low spreads and secure withdrawal policy. I can confirm that FxPro is not a scam. My account has yielded a 537% return on investment over the last two months, and I have withdrawn 200% of my initial capital.”
Advantages that FxPro has over competitors
➡️ FxPro is a broker that stands out in the industry for its competitive spreads and commissions. As a result, traders may find FxPro’s offerings more attractive than other brokers that charge higher fees.
➡️ Another area in which FxPro excels is customer support. With multilingual customer service available 24/5, FxPro may offer a more responsive and efficient support experience than other brokers. This is especially important for traders who require assistance with their trading activities.
➡️ FxPro provides various payment options, such as credit/debit cards, bank transfers, and e-wallets, allowing traders to deposit and withdraw funds more flexibly than other brokers.
➡️ FxPro’s reputation in the industry is also noteworthy. The broker has won numerous awards for its trading services, indicating that it provides high-quality trading solutions that surpass those of other brokers. This accolade should instil confidence in traders who seek a trustworthy and reputable broker.
➡️ FxPro’s regulation is also a key differentiator. Several reputable regulatory bodies regulate the broker, including the FCA and CySEC. This gives traders high security and confidence in their trading experience, which may be lacking in other brokers with less stringent regulations.
Who will Benefit from Trading with FxPro?
👉 FxPro’s competitive pricing, various payment options, excellent customer support, reputation in the industry, and regulation make it an excellent choice for traders looking for a reliable and trustworthy broker, regardless of their trading strategies or experience.
FxPro Geographic Reach and Limitations
👉 Most of FxPro’s market share is concentrated in these areas:
➡️ Vietnam – 8.75%
➡️ United Kingdom – 8.68%
➡️ Brazil – 8.66%
➡️ Pakistan – 6.81%
➡️ Malaysia – 6.75%
➡️ Germany – 6.73%
➡️ Thailand – 5.78%
➡️ Kenya – 5.74%
➡️ Italy – 5.70%
➡️ South Africa – 5.54%s
FxPro Current Expansion Focus
👉 FxPro is focused on providing trading solutions to traders in the United Kingdom, Africa, and Europe.
Countries not accepted by FxPro
👉 FxPro does not accept clients from these countries:
➡️ The United States
➡️ Canada
➡️ Iran
Popularity among Botswanan traders who choose FxPro
👉 FxPro is one of the Top 100 forex and CFD brokers for beginners and professional traders.
FxPro Regulation and Safety of Funds
FxPro Regulations in Botswana
👉 Any of the following Botswanan regulators do not currently regulate FxPro:
➡️ Ministry of Finance and Economic Development (MFED)
➡️ Bank of Botswana (BoB)
➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
👉 However, FxPro is well-regulated by several reputable market regulators in other countries, as per the table in the following section.
FxPro Global Regulations
| 💻 Registered Entity | 💵 Country of Registration | 💸 Registration Number | 📈 Regulatory Entity | 📊 Tier | 📉 License Number/Ref |
| FxPro UK Limited | United Kingdom | 06925128 | FCA | 1 | 509956 |
| FxPro Financial Services Limited | Cyprus | HE 181344 | CySEC | 2 | 078/07 |
| FxPro Global Markets Limited | The Bahamas | – | SCB | 3 | SIA-F184 |
| FxPro Financial Services Limited | South Africa | HE181344 | FSCA | 2 | FSP 45052 |
| Prime Ash Capital Limited T/A FxPro | Mauritius | – | FSC | 3 | GB21026568 |
How FxPro Protects Botswanan Traders and Client Funds
| ➡️ Security Measure | Information |
| ➡️ Segregated Accounts | Yes |
| ➡️ Compensation Fund Member | Yes, ICF – this does not cover Botswanans |
| ➡️ Compensation Amount | 20,000 EUR |
| ➡️ SSL Certificate | Yes |
| ➡️ 2FA (Where Applicable) | Yes |
| ➡️ Privacy Policy in Place | Yes |
| ➡️ Risk Warning Provided | Yes |
| ➡️ Negative Balance Protection | Yes |
| ➡️ Guaranteed Stop-Loss Orders | No |
Security while Trading
👉 FxPro takes the following precautions to ensure that traders can remain safe while they trade with the broker online:
➡️ FxPro demands that all passwords meet requirements for length and complexity.
➡️ Two-Factor Authentication is employed.
➡️ Traders receive automated email confirmations whenever they modify their passwords.
➡️ All applications and websites use the highest level of data encryption.
➡️ FxPro has a team of professionals that regularly monitor security and are prepared to respond to incidents or suspicious conduct involving online payments.
➡️ A resolute Data Protection Officer oversees GDPR compliance
➡️ Third parties periodically review FxPro.
FxPro Awards and Recognition
👉 FxPro has the following awards and recognition indicated on the official website:
➡️ Best Broker in the United Kingdom 2021: Ultimate Fintech Awards.
➡️ Best Forex Provider 2021: Online Personal Wealth Awards.
➡️ Best Trading Platform 2020.
➡️ Best Broker 2014-2020: Financial Times and Investors Chronicles Awards.
➡️ Best Forex Trading Experience 2018: UK Forex Awards.
FxPro Account Types and Features
👉 FxPro offers a variety of advantages to traders, including a wide range of platforms and account types from which to choose.
👉 The broker provides access to top-grade trading platforms such as cTrader, Metatrader 4, Metatrader 5, and proprietary solutions, allowing traders to select a platform that best suits their needs.
👉 In addition, FxPro offers different trading conditions to provide a more personalized experience tailored to individual preferences.
👉 This includes access to over 2,100 CFD assets across 6 classes, quality execution, advanced online trading tools, and trading systems. With these features, FxPro is suitable for a broad range of traders, catering to their diverse trading needs.
| 💻 Live Account | 💰 Minimum Dep. | 💵 Average Spread | 📉 Commissions | 📈 Average Trading Cost |
| Standard | 1,300 BWP ($100) | 1.2 pips | Only the Spread | 12 USD |
| Pro | 13,200 BWP ($1,000) | 0.6 pips | Only the Spread | 6 USD |
| Raw+ | 13,200 BWP ($1,000) | 0.0 pips | $3.5 per side | 7 USD |
| ECN | 390,000 BWP ($30,000) | 0.0 pips | $3.5 per side | 7 USD |
FxPro Live Trading Account Details
Standard Account
👉 For those looking to trade solely with bid-and-ask prices without incurring commissions, FxPro’s Standard Account is the ideal choice. This account type allows traders to participate in foreign exchange, metals, indices, energies, futures, cryptocurrencies, and stock trading, all with no commissions and just a spread.
| 💰 Minimum Deposit | 1,300 BWP ($100) |
| 💵 Forex Spread | From 1.2 pips on EUR/USD, GBP/USD, USD/JPY |
| 📈 Gold Spread | From 25 cents, with an average of 30 cents |
| 📉 Crypto Spread | From 30 USD, with an average of 40 USD |
| 💸 Commission Fees | None, only the spread is charged |
| 📊 Maximum Leverage | 1:500 |
| 💸 Minimum Trade Size | 0.01 lots |
| 💵 Maximum Trade Size | Unlimited |
Pro Account
👉 For investors seeking to trade with bid-and-ask prices without paying additional commissions, FxPro’s Pro Account is a highly recommended choice. This account type provides access to the same markets and assets as FxPro MT4 and MT4 Instant.
| 💰 Minimum Deposit | 13,200 BWP ($1,000) |
| 💵 Forex Spread | From 0.6 pips on EUR/USD, GBP/USD, USD/JPY |
| 📈 Gold Spread | From 20 cents, with an average of 25 cents |
| 📉 Crypto Spread | From 15 USD, with an average of 20 USD |
| 💸 Commission Fees | None, only the spread is charged |
| 📊 Maximum Leverage | 1:500 |
| 💸 Minimum Trade Size | 0.01 lots |
| 💵 Maximum Trade Size | Unlimited |
Raw+ Account
👉 FxPro’s Raw+ Account is designed for traders looking for the tightest spreads across financial markets to capitalize on rapid market changes. Traders who choose this account enjoy zero-pip spreads but are subject to a commission of $3.5 per side on Forex.
| 💰 Minimum Deposit | 390,000 BWP ($30,000) |
| 💵 Forex Spread | From 0.0 pips on EUR/USD, GBP/USD, USD/JPY |
| 📈 Gold Spread | From 10 cents, with an average of 15 cents |
| 📉 Crypto Spread | From 15 USD, with an average of 20 USD |
| 💸 Commission Fees | From $3.5 per side |
| 📊 Maximum Leverage | 1:500 |
| 💸 Minimum Trade Size | 0.01 lots |
| 💵 Maximum Trade Size | Unlimited |
ECN Account
👉 The ECN Account offered by FxPro is particularly popular among experienced traders seeking the tightest spreads for fast-paced strategies, such as scalping and day trading. This account type caters to the unique needs of such traders and helps them execute their trading strategies more efficiently.
| 💰 Minimum Deposit | 390,000 BWP ($30,000) |
| 💵 Forex Spread | From 0.0 pips on EUR/USD, GBP/USD, USD/JPY |
| 📈 Gold Spread | From 10 cents, with an average of 15 cents |
| 📉 Crypto Spread | From 15 USD, with an average of 20 USD |
| 💸 Commission Fees | From $3.5 per side |
| 📊 Maximum Leverage | 1:500 |
| 💸 Minimum Trade Size | 0.01 lots |
| 💵 Maximum Trade Size | Unlimited |
FxPro Demo Account
👉 FxPro’s ECN Account is especially well-liked by seasoned traders seeking the tightest spreads for fast-paced tactics like scalping and day trading. This account type satisfies the specific requirements of these traders and enables them to implement their trading methods more effectively.
FxPro Islamic Account
👉 FxPro offers swap-free accounts for religious reasons. However, fees may apply once certain instruments have been traded for a specific number of days.
FxPro Professional Account
👉 FxPro does not currently offer a dedicated account for Professional Kenyan Traders.
FxPro Spread Betting Account
👉 FxPro UK Limited delivers Spread Betting to all UK-based customers via its proprietary Spread Betting Platform, FxPro Edge. FxPro Edge is a trading platform that enables tax-free trading on hundreds of instruments and six asset classes.
👉 The widget-based user interface of FxPro Edge can be tailored to your trading needs. Also, you can trade immediately from the chart, the ticker, or by creating your own quick trade setups. In addition, around fifty technical indicators, price alerts, and other tools are available.
FxPro Base Account Currencies
👉 Botswanan traders can register a live trading account using these currencies:
➡️ USD
➡️ EUR
➡️ GBP
➡️ CHF
➡️ PLN
➡️ AUD
➡️ JPY
➡️ ZAR
👉 However, because BWP is not an accepted base account currency, Botswanans could face currency conversion fees on trades, deposits, and withdrawals.
FxPro Basic Order Types
👉 FxPro’s basic order types are as follows:
➡️ Market Orders
➡️ Pending Orders
➡️ Take Profit
➡️ Stop-Loss Orders
Market Orders
👉 A Market Order is a request to buy or sell a Contract for Difference (CFD) at the prevailing market price as promptly as possible, opening a trade position. CFDs are purchased at the ASK price and sold at the BID price.
👉 Furthermore, with FxPro, Market Orders are available for all accounts. In addition, Market Orders can be accompanied by Stop Loss and Take Profit Orders.
Pending Orders
👉 Pending Orders are requests to buy or sell a CFD at a pre-defined price in the future once a certain price is reached. FxPro offers four Pending Orders: Buy Limit, Buy Stop, Sell Limit, and Sell Stop.
👉 These orders are executed when the price reaches the specified level. However, executing at the requested price may be impossible under certain trading conditions. FxPro has the right to execute the order at the first available price in such cases.
👉 Stop Loss and Take Profit Orders can be attached to a Pending Order and are valid until cancelled. In addition, Pending Orders are available for all accounts with FxPro.
Take Profit
👉 Take Profit Orders are intended to secure profit when the price of a CFD reaches a specific level. The execution of this order results in the complete closure of the entire position and is always connected to an open, market, or pending order.
👉 In addition, the FxPro platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Take Profit Order have been met.
Stop-Loss Orders
👉 Stop-Loss Orders are used to minimize losses if the price of a CFD begins to move in an unprofitable direction. If the price of the CFD reaches the Stop-Loss level, the entire position will be automatically closed.
👉 Stop-Loss Orders are always connected to an open, market, or pending order. The FxPro platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Stop-Loss Order have been met.
FxPro – Slippage and Requote Policy
Slippage
👉 In currency trading, slippage is inevitable, especially during periods of high market volatility, low liquidity, and major news releases.
👉 However, FxPro takes extensive measures to protect traders from market instability. Using a comprehensive trade management system, FxPro reduces the risk of negative slippage and ensures optimal execution for Botswanan traders.
Requotes
👉 Market Execution is implemented on FxPro MT5 and FxPro cTrader platforms, eliminating the possibility of requotes. Although, Botswanan traders on FxPro MT4 Immediate accounts may experience requotes during times of high market volatility.
👉 To avoid requotes, traders can check the ‘Standard Deviation’ box at the bottom of the ‘Order’ window to select a preferred pip range if the market price deviates from the initial clicked price.
How to open an Account with FxPro
👉 To register an account with FxPro, Botswanan traders can follow these easy steps:
➡️ To register for a FxPro account, begin by navigating their website, www.fxpro.com, and clicking the “Register” button at the homepage’s top right corner.
➡️ This will direct you to a registration form where you must provide personal information such as your name, email address, phone number, and country of residence.
➡️ After filling in your information, select the account type you wish to open from FxPro’s available options, which include demo, Standard, Pro, Raw+, or ECN accounts.
➡️ Submit the form and await account approval, which may require additional documentation to verify your identity.
➡️ Once your account is approved, log in using the credentials provided by FxPro, then fund your account using available deposit methods such as bank transfer, credit/debit card, or e-wallet.
➡️ Finally, choose your preferred trading platform and market instruments to begin trading.
How to close My Account with FxPro
👉 To close a live trading account with FxPro, Botswanan traders can follow these steps:
➡️ Log in to your account using your credentials.
➡️ Proceed to the “MyFunds” tab and select “Withdraw” from the menu.
➡️ Choose your preferred withdrawal method and follow the prompts to complete the transaction.
➡️ Ensure you have no active trades in your account before initiating the withdrawal.
➡️ Once all the funds have been withdrawn, contact FxPro’s customer support team to request an account closure.
➡️ Provide a reason for closing your account and any relevant feedback.
➡️ FxPro will assess your request and confirm the account closure.
FxPro MAM / PAMM Features
👉 The FxPro Multi Account Manager (MAM) is a sophisticated trading tool intended for money managers, which enables them to conduct transactions on behalf of multiple clients. The MAM account is tailored to cater to money managers who oversee multiple accounts.
👉 The feature facilitates the trading and management of multiple accounts from a single master account.
👉 The FxPro MAM account offers a variety of features that streamline the management of multiple accounts. For example, it enables money managers to execute orders across multiple accounts while also providing the flexibility to set different allocation methods and lot sizes.
👉 Furthermore, the FxPro MAM account offers a selection of allocation methods, such as percentage allocation, lot allocation, and equity allocation.
👉 Moreover, the FxPro MAM account provides a comprehensive reporting system that allows money managers to generate reports on trades, account balances, and performance. The reporting system also provides an overview of individual client activity, a valuable risk management tool.
👉 One of the key benefits of the FxPro MAM account is the ability to customize trading conditions for each client.
👉 This feature is particularly helpful for money managers with clients having varying risk tolerance or investment objectives. Money managers can also set different commission structures for each client.
👉 To use the FxPro MAM account feature, money managers need to create a master account with FxPro. After that, the money manager can add individual accounts to the master account and set the allocation method, lot size, and other trading conditions.
👉 Then, the money manager can execute trades on behalf of multiple accounts from the master account.
👉 In conclusion, the FxPro MAM account is a powerful tool that simplifies managing multiple accounts. In addition, the customizable trading conditions and reporting system make it an attractive option for money managers seeking to manage multiple accounts efficiently.
Social Trading with FxPro
👉 FxPro does not currently offer Social Trading for Botswanan traders.
Broker Comparison
| 🥇 FxPro | 🥈 IG | 🥉 AvaTrade | |
| ⚖️ Regulation | FCA, CySEC, SCB, FSCA, FSC | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • cTrader • FxPro App | • MetaTrader 4 • IG Platform • ProRealTime (PRT) • L2 Dealer • FIX API | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade |
| 💰 Withdrawal Fee | No | No | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 1,300 BWP ($100) | 3,300 BWP ($250) | 1,300 BWP ($100) |
| 📊 Leverage | Up to 1:500 | • 1:30 (Retail, EU, UK) • 1:222 (Professional) | • 1:30 (Retail) • 1:400 (Pro) |
| 📊 Spread | From 0.0 pips EUR/USD | From 0.1 pips DMA | Fixed, from 0.9 pips |
| 💰 Commissions | $3.5 per side | From 0.10% | None |
| ✴️ Margin Call/Stop-Out | 100%/50% | 100%/50% | • 25% – 50% (M) • 10% (S/O) |
| 💻 Order Execution | Market | Market | Instant |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • Standard Account • Pro Account • Raw+ Account • ECN Account | • CFD/DMA Trading Account • Limited Risk Trading Account • Options Trading Account • Turbo24 Trading Account • Share Dealing Account • Spread Betting Account • Swap-Free Trading Account | • Standard Live Account • Professional Account Option |
| ⚖️ CBN Regulation | No | No | No |
| 💳 BWP Deposits | No | No | No |
| 📊 Botswana Pula Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/7 | 24/5 |
| 📊 Retail Investor Accounts | 4 | 7 | 1 |
| ☪️ Islamic Account | Yes | Yes, Dubai | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 150 lots | 50 lots | 200 lots |
| 💰 Minimum Withdrawal Time | 30 Minutes | Instant | Instant |
| 📊 Maximum Estimated Withdrawal Time | 1 business day | 1 business day | 24 to 48 Hours |
| 💸 Instant Deposits and Instant Withdrawals? | Yes, Deposits | Yes | Yes |
FxPro Trading Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
➡️ FxPro App
MetaTrader 4
👉 MetaTrader 4 (MT4) has been a popular trading platform for over a decade. FxPro’s version of MT4 comes with advanced trading features such as customizable indicators and algorithmic trading capabilities.
👉 The platform’s user-friendly interface makes it easy for traders to navigate and execute trades.
MetaTrader 5
👉 MetaTrader 5 (MT5) is a multi-asset platform that allows FxPro clients to trade Forex, stocks, futures, and other financial instruments.
👉 MT5 has advanced tools, including technical analysis indicators and automated trading options. In addition, the platform supports hedging and netting, providing traders with greater flexibility in managing their positions.
cTrader
👉 Designed for Forex and CFD trading, cTrader has a sleek and intuitive interface that allows traders to execute trades quickly and efficiently.
👉 cTrader has advanced charting tools, trading signals, and algorithmic trading options. In addition, it supports manual trading and custom indicators and strategies.
FxPro App
👉 The FxPro App is a mobile trading platform for iOS and Android devices. It allows traders to access their FxPro accounts on the go and comes with features such as real-time quotes, charting tools, and one-click trading.
👉 In addition, the app also supports push notifications and has a user-friendly interface.
FxPro Investment Programs
👉 FxPro does not offer a separate investment program for Botswanans.
Which Markets can You Trade with FxPro?
👉 Botswanan traders can expect the following range of markets from FxPro:
➡️ Forex
➡️ Futures
➡️ Indices
➡️ Shares
➡️ Metals
➡️ Energies
➡️ Cryptocurrency CFDs
Financial Instruments and Leverage offered by FxPro
| 💻 Instrument | 💵 Number of Assets Offered | 💸 Max Leverage Offered |
| Forex | 70 | 1:500 |
| Share CFDs | 21 | 1:50 – 1:100 |
| Indices | 19 | 1:50 – 1:100 |
| Cryptocurrency | 2,000+ | 1:25 |
| Metals | 8 | 1:50 – 1:200 |
| Energies | 3 | 1:200 |
Broker Comparison for a Range of Markets
| 🥇 FxPro | 🥈 IG | 🥉 AvaTrade | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | Yes |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
FxPro Trading and Non-Trading Fees
Spreads
👉 FxPro’s variable spread mark-ups mean that, for certain accounts, the broker will take a cut of the spread itself, while for others, the broker will charge a flat commission rate. The following is a breakdown, per account type, of the average spreads that traders may expect with FxPro:
➡️ Standard Account – 1.2 pips EUR/USD
➡️ Pro Account – 0.6 pips EUR/USD
➡️ Raw+ Account – 0.0 pips EUR/USD
➡️ ECN Account – 0.0 pips EUR/USD
👉 Some other spreads that Botswanans can expect include some of the following:
➡️ USD/CAD – 0.2 pips
➡️ USD/JPY – 0.09 pips
➡️ Coffee Futures – 1.3 pips
➡️ GER40 DAX Futures – 0.016 pips
➡️ JP225 Futures – 0.3 pips
➡️ USNDAQ100 Spot Index CFD – 0.2 pips
➡️ Apple, Inc. Share CFD – 33 pips
➡️ Spot Gold – 0.3 pips
➡️ Spot Silver – 0.7 pips
➡️ Brent (UK) Spot Oil – 0.5 pips
Commissions
👉 The broker cost is included in the spread. Thus, there are no additional commission fees for the Basic and Pro Accounts, as claimed by FxPro.
👉 On the other hand, zero-pip spreads and commissions starting at $3.5 per side, depending on the financial instrument, are standard for traders with Raw+ and ECN Accounts.
Overnight Fees, Rollovers, or Swaps
👉 If you leave a position open overnight, you will be charged a swap/rollover fee to cover the cost of funding your transaction. As of 11 PM UK time, the swap will be applied to the client’s account and converted to the account’s base currency.
👉 Every business day, the swap is calculated and charged once on FxPro, MT4, and cTrader, apart from Friday, when it is charged three times because of the weekend rollover (Friday – Monday).
👉 Traders should be aware of the following terms related to overnight charges:
➡️ Every instrument traded on the MT5 platform incurs swap fees once a day.
➡️ FxPro additionally offers swap-free accounts. But there are a few caveats.
➡️ There are no swaps on future contracts.
➡️ There is constant monitoring and rebalancing of swap pricing.
Deposit and Withdrawal Fees
👉 Botswanans do not pay any fees when they deposit or withdraw funds.
Inactivity Fees
👉 Inactivity fees between $5 to $15 might apply.
Currency Conversion Fees
👉 Currency conversion fees will be charged if Botswanans deposit and withdraw in currencies other than USD, EUR, GBP, CHF, PLN, AUD, JPY, or ZAR.
Other Trading / Non-Trading Fees
👉 There are currently n other notable trading or non-trading fees. However, traders must ensure they confirm all fees with FxPro before registering an account. Furthermore, this includes fees for third-party services such as VPS.
FxPro Deposits and Withdrawals
👉 FxPro offers Botswanan traders the following deposit and withdrawal methods:
➡️ Bank Transfers
➡️ Credit/Debit Cards
➡️ Neteller
➡️ PayPal
➡️ Skrill
➡️ UnionPay
Broker Comparison: Deposit and Withdrawals
| 🥇 FxPro | 🥈 IG | 🥉 AvaTrade | |
| Minimum Withdrawal Time | 1 business day | 1 business day | 24 to 48 Hours |
| Maximum Estimated Withdrawal Time | 7 business days | Up to five business days | Up to 10 days |
| Instant Deposits and Instant Withdrawals? | Yes, Deposits | Yes, Deposits on PayPal | No |
FxPro Deposit and Withdrawal Details – Payment Methods, currencies, processing time, etc.
| 💳 Payment Method | 💵 Deposit Currencies | 💳 Deposit Processing | 💸 Withdrawal Processing |
| Bank Transfers | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | 1 – 3 days | 3 – 7 days |
| Credit/Debit Cards | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| Neteller | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| PayPal | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| Skrill | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| UnionPay | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
How to Deposit Funds with FxPro
👉 To deposit funds to an account with FxPro, Botswanan traders can follow these steps:
➡️ Sign in to your existing FxPro account or sign up for a new one if you do not have one.
➡️ Tap the “Deposit” button in the screen’s upper right corner to make a deposit.
➡️ Choose a deposit option that works best for you below. FxPro accepts deposits using various methods, including wire transfers, credit/debit cards, and e-wallets like Neteller and Skrill.
➡️ To make a deposit, stick to the on-screen prompts for your chosen payment method.
➡️ Your FxPro account will be credited with the deposit amount once the transaction is processed and validated.
How long do FxPro Deposits take?
👉 With FxPro, deposit processing times vary according to the chosen deposit method. For example, bank transfer deposits typically take two to five business days to clear.
👉 Deposits made with a credit card, debit card, or electronic wallet are often completed immediately or within a few hours. However, if you want to know exactly how long it will take for your deposit to be processed, you should contact FxPro’s customer care.
FxPro Fund Withdrawal Process
👉 To withdraw funds from an account with FxPro, Botswanan traders can follow these steps:
➡️ Log in to your account and navigate to the “MyFunds” tab.
➡️ From the drop-down menu, choose “Withdraw” and select your preferred withdrawal method.
➡️ Follow the instructions provided to complete the withdrawal process.
➡️ Before withdrawing, ensure that there are no open positions in your account.
➡️ Once you have withdrawn all funds, contact FxPro’s customer support team to request an account closure.
➡️ Provide a reason for closing your account and any feedback you may have.
➡️ FxPro will review your request and confirm the closure of your account.
How long do FxPro Withdrawals take?
👉 The time it takes for FxPro withdrawals to be processed depends on several factors, including the withdrawal method used and the client’s account verification status. However, here are some general guidelines:
➡️ Withdrawals to e-wallets such as Neteller and Skrill are usually processed within 1 business day.
➡️ Withdrawals to credit/debit cards can take up to 5 business days to process, depending on the client’s card issuer and country of residence.
➡️ Bank wire withdrawals can take up to 5 business days to process. However, depending on the client’s bank and country of residence, it may take longer.
👉 Botswanans must note that FxPro may require additional verification steps before processing a withdrawal request, which can delay the process. Therefore, traders should ensure that the trading account is fully verified and all required documents have been submitted to avoid delays.
FxPro Education and Research
Education
👉 FxPro offers the following Educational Materials to Botswanan traders:
➡️ 9 Online Courses
➡️ Pips and points
➡️ Lots and leverage
➡️ Margin
➡️ What is a CFD?
➡️ How to start CFD trading?
➡️ What is the financial Market?
➡️ Trading Sessions
➡️ How to trade the forex markets
➡️ Chart Types
➡️ 4 Fundamental Analysis Courses
➡️ Major Economic Indicators Part 1
➡️ Major Economic Indicators Part 2
➡️ What is fundamental analysis
➡️ Leading and lagging economic indicators
➡️ 5 Technical Indicator Courses
➡️ What is Technical Analysis
➡️ Support and Resistance Levels
➡️ What are channels, and how to put them on
➡️ Major Patterns
➡️ Trend Lines, etc.
➡️ Trading Psychology
➡️ Novice Traders’ Mistakes
➡️ Trading: from competency to skill
➡️ Blindfolded on a mountain range
➡️ Escalation of Commitment and the Skunk Cost Fallacy
Research and Trading Tool Comparison
| 🥇 FxPro | 🥈 IG | 🥉 AvaTrade | |
| ➡️ Economic Calendar | Yes | Yes | Yes |
| ➡️ VPS | No | No | No |
| ➡️ AutoChartist | No | No | No |
| ➡️ Trading View | No | Yes | No |
| ➡️ Trading Central | No | Yes | Yes |
| ➡️ Market Analysis | Yes | Yes | Yes |
| ➡️ News Feed | Yes | Yes | Yes |
| ➡️ Blog | Yes | Yes | Yes |
👉 FxPro also offers Botswanan traders the following additional Research and Trading Tools:
➡️ Earnings Calculators
➡️ FxPro Market News
➡️ Technical Analysis through Trading Central
➡️ Trader’s Dashboard
➡️ FxPro Direct App
➡️ FxPro VPS
➡️ Download Centre
➡️ Economic Calendar
➡️ Forex News
➡️ Trading Calculators
FxPro Bonuses and Promotions
👉 Botswanans are not given bonuses or promotions when signing up with FxPro. However, traders can earn up to 30% of the spread using the FxPro cashback rebates programme.
How to open an Affiliate Account with FxPro
👉 To register an Affiliate Account, Botswanans can follow these steps:
➡️ To become a partner with FxPro, visit their website and select the “Partners” link.
➡️ Please provide your name, email address, telephone number, and country of residence in the registration form.
➡️ Decide the kind of collaboration (Introducing a Broker, Affiliate, etc.) you would like to pursue.
➡️ Provide the supplementary data your selected relationship type demands, such as your company name and website for Affiliate accounts.
➡️ By clicking “Register,” you confirm that you have read and agree to the Partnership Program Terms & Conditions.
➡️ Your affiliate account login information and a confirmation email will be sent shortly after you sign up.
➡️ Log in to your affiliate account to earn commissions on clients you refer to FxPro.
FxPro Affiliate Program Features
👉 Botswanan Affiliates can expect some of the following features with FxPro’s partnership programme:
➡️ FxPro offers a wide range of partnership solutions to meet the demands of a wide range of partners, including Introducing Broker, Affiliate, and White Label relationships.
➡️ FxPro is a highly regarded online broker because of its superior offerings, which include innovative trading platforms, affordable rates, and helpful, knowledgeable support staff.
➡️ FxPro’s partnership program provides partners with all they need to build a successful relationship with FxPro and make a considerable income from client referrals.
➡️ The advanced tracking and reporting tools made accessible to FxPro’s partners make it easy to keep tabs on referrals, commissions, and other key indicators, helping them to earn more from referrals.
➡️ Partners may reach out to a dedicated account manager for help whenever they need it. In addition, they have access to various promotional tools, including banners, landing pages, and other creatives, to spread the word about FxPro.
FxPro Customer Support
| Customer Support | FxPro’s Customer Support |
| ⏰ Operating Hours | 24/7 |
| 🗣 Support Languages | English |
| 🗯 Live Chat | Yes |
| 📧 Email Address | Yes |
| ☎️ Telephonic Support | Yes |
| 📞 Local Support in Botswana? | No |
| 🥇 Overall quality of FxPro Support | 3/5 |
FxPro Corporate Social Responsibility
👉 FxPro is committed to establishing strong and enduring relationships with the communities in which it operates. Hence, FxPro actively supports various charitable organizations, including UNICEF, the Red Cross, local and international hospitals, care facilities, and charitable fundraising events.
👉 Therefore, being a global organization with a diverse and multi-ethnic workforce, FxPro recognizes that its charitable work can have a greater impact when its employees can support the charities they choose.
FxPro Cashback Rebates Features and Conditions
👉 Overall, FxPro offers forex rebates of up to 30% of the spread on the MT4 (Instant, Standard, and Fixed), FxPro Edge, MT5, cTrader, and Spread Betting (not available in Botswana) Accounts as follows:
| 💻 MT4 (Instant, Standard, Fixed) | 💸 FxPro Edge | 📈 MT5 | 📊 cTrader | 💵 Spread Betting | |
| Forex | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the spread + 24.50% per million USD traded | 10% of the execution spread or Bet Spread |
| Indices | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the Spread | – |
| Cryptocurrency | 30% of the Spread | 30% of the Spread | 30% of the Spread | – | – |
| Precious Metals | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the Spread + 24.50% per million USD traded | – |
| Energies | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the Spread | – |
| Shares | 30% of the Spread | 30% of the Spread | – | – | – |
| Soft Commodities | 30% of the Spread | 30% of the Spread | 30% of the Spread | – | – |
| Futures | 30% of the Spread | 30% of the Spread | 30% of the Spread | – | – |
| Payment Frequency | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders |
FxPro Web Traffic Report
| 💻 Global Rank | 92,362 |
| 💵 Country Rank | 10,407 |
| 📈 Category Rank | 120 |
| 📊 Total Visits | 775k+ |
| 📱 Bounce Rate | 61.04% |
| 💵 Pages per Visit | 2.08 |
| 📊 Average Duration of Visit | 00:01:17 |
| 💻 Total Visits in the last three months | • November – 694K • December – 634K • January – 775K |
Our Final Verdict on FxPro
👉 FxPro is a reputable CFD and forex broker providing trading services for over a decade. It is widely recognized as a trustworthy and well-established broker to trade within the current year.
👉 One of FxPro’s strengths is its five-star customer service, which includes a multilingual support team available Monday through Friday (24/5). The support team is trained to handle various issues and queries, providing prompt and helpful responses to clients.
👉 FxPro offers various trading instruments, including forex pairs, equity indices, cryptocurrencies, commodities, and futures. This diversity distinguishes them from others in the industry, providing traders various options to diversify their portfolios.
👉 However, frequent traders and specialists may find that the fees associated with trading reduce their profits.
👉 FxPro charges competitive spreads, but commissions apply depending on the account type and trading instrument. Therefore, traders should carefully review the fee structure and consider the impact on their trading strategy.
FxPro Alternatives
➡️ com – Botswanan traders can start trading with Capital.com with a low minimum deposit of 260 BWP ($20). Furthermore, Capital.com offers tight spreads, excellent educational materials, and a range of tradable instruments across markets.
➡️ CMC Markets – One of the most noteworthy features of CMC Markets is that over 300 forex pairs can be traded. Furthermore, CMC Markets is the best option for beginners based on its range of educational materials, excellent market analysis, and razor-thin spreads.
➡️ GO Markets is a trusted and popular Australian CFD and forex broker that provides the best tools and resources for beginner and professional traders, regardless of their trading strategies. Furthermore, GO Markets has fast deposits and withdrawals, innovative technologies, and a range of tradable instruments.
Latest Existing/Previous Customer Comments on FxPro for 2022/3
➡️ Steven Santana (November 2022) “After over two years of trading with FxPro, I can say that I have rarely encountered any major issues or complications in terms of their services and trading offerings. I note that they provide tight spreads for major currency pairs, which are variable but remain competitive. However, the spreads may increase significantly during major economic news releases, which is typical for most other brokers.”
➡️ Joyce Hatfield (September 2022) “I am writing to review my experience with FxPro. Although my time with the broker has been short, approximately one month, I have found them to be an ideal broker thus far. Specifically, I have experienced no requotes or delays, and their customer support is exceptional. Additionally, I have had fast withdrawals, which further cemented my positive view of FxPro.”
➡️ Shane Aguilar (April 2022) “I would like to share my thoughts regarding FxPro as a broker. In my experience, they have proven to be one of the best brokers I have traded with. Compared to other brokers based in the UK, FxPro has exceeded my expectations significantly.”
FAQ
What are the fees associated with trading on FxPro?
FxPro charges competitive spreads, but commissions may apply depending on the account type and trading instrument. Therefore, traders should carefully review the fee structure and consider the impact on their trading strategy.
Is FxPro regulated?
Yes, FxPro is extremely well-regulated by FCA (Tier-1), CySEC (Tier-2), FSCA (Tier-2), FSC (Tier-3), and SCB (Tier-3).
What is forex trading, and can I trade Forex with FxPro?
Forex trading involves buying and selling currency pairs on the foreign exchange market, and FxPro offers forex trading as one of its primary trading instruments.
What trading instruments does FxPro offer?
FxPro offers various trading instruments, including forex pairs, equity indices, cryptocurrencies, commodities, and futures.
How long does it take to withdraw from FxPro?
Withdrawals are processed within 1 – 2 business days. However, it could take several business days for funds to reflect, especially when using bank wire transfers to withdraw.
What are CFDs, and can I trade CFDs with FxPro?
CFDs are contracts for difference, which allow traders to speculate on the price movements of various financial instruments without owning the underlying assets. Yes, FxPro offers CFD trading for various instruments, including indices, cryptocurrencies, commodities, and futures.
Does FxPro have VIX 75?
FxPro does not have VIX 75.
What type of broker is FxPro?
FxPro is a well-established online broker that provides trading services for Forex and CFDs. It offers a range of account types, including demo, live, and Islamic accounts, to cater to different trader needs.
Does FxPro have Nasdaq 100?
Yes, FxPro offers Nasdaq 100.
What is FxPro’s customer service like?
FxPro prides itself on its five-star customer service, with a multilingual support team available Monday through Friday (24/5). The support team is trained to handle various issues and queries, providing prompt and helpful responses to clients.
Is FxPro Safe or a Scam?
FxPro is a safe broker with verified regulations, several security protocols, and a range of trading solutions and features for beginner and professional traders.
Why should I work through the SA Shares Cashback?
You can expect some of the highest commissions if you work through SA Shares to earn up to 30% Cashback Rebates from Forex Brokers such as FxPro.
This is because SA Shares aims to negotiate the most competitive commission rates with brokers such as FxPro to ensure you get the most back from your trading activities.
Conclusion
Our Review Methodology
👉 For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
👉 Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
👉 Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with FxPro?
➡️ What was the determining factor in your decision to engage with FxPro?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
➡️ Have you experienced issues with FxPro, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
