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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.

Updated : May 7, 2024

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

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

24 Hours

Summary

FxPro 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

🏛 HeadquarteredLondon, England
🌎 Global OfficesUnited 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 Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded2006
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Instagram
• LinkedIn
• Twitter
• YouTube
• Telegram
⚖️ RegulationFCA, CySEC, SCB, FSCA, FSC
1️⃣ Tier-1 LicensesFinancial 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 RegulationYes
✔️ Regional RestrictionsThe United States, Canada, Iran
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts4
✔️ PAMM AccountsOnly MAM
💻 Liquidity ProvidersNone
✔️ Affiliate ProgramYes
📱 Order ExecutionMarket Execution
📊 Starting spread0.0 pips
📉 Minimum Commission per Trade$7 Round turn on Forex
💰 Decimal PricingUp to 5 digits after the comma
📞 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size50 lots
✅ Crypto trading offered?Yes
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:500
📊 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 Stats250,000+
👥 Active Botswana-based FxPro customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💰 Deposit and Withdrawal Options• Bank Transfers
• Credit/Debit Cards
• Neteller
• PayPal
• Skrill
• UnionPay
💻 Minimum Withdrawal Time1 – 7 business days
⏰ Maximum Estimated Withdrawal Time7 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 SpreadNo
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, 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 LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/5
📞 Botswana-based customer support?Yes, via Email, Live Chat, and Telephone
💸 Bonuses and Promotions for Botswanans?Yes
📚 Education for Botswana beginner tradersYes, App
📱 Proprietary trading softwareYes
🤝 Most Successful Trader in BotswanaCurrently unknown
✔️ Is FxPro a safe broker for Botswana Traders?Yes
🎖 Rating for FxPro Botswana8/10
🥇 Trust score for FxPro Botswana90%
👉 Open Account👉 Open Account

Analysis of FxPro’s Main Features

➡️ Order Execution4/5
➡️ Commissions and Fees4/5
➡️ Range of Markets4/5
➡️ Variety of Markets4/5
➡️ Withdrawal Speed4/5
➡️ Customer Support5/5
➡️ Trading Platform4/5
➡️ Education4/5
➡️ Research4/5
➡️ Regulation5/5
➡️ Mobile Trading4/5
➡️ Trust Score90%

Top 3 FxPro User Reviews

Top 3 FxPro User Reviews

➡️ Farrah Potts (January 2024) “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 2024) “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

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

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 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 LimitedUnited Kingdom06925128FCA1509956
FxPro Financial Services LimitedCyprusHE 181344CySEC2078/07
FxPro Global Markets LimitedThe BahamasSCB3SIA-F184
FxPro Financial Services LimitedSouth AfricaHE181344FSCA2FSP 45052
Prime Ash Capital Limited T/A FxProMauritiusFSC3GB21026568

 

How FxPro Protects Botswanan Traders and Client Funds

➡️ Security MeasureInformation
➡️ Segregated AccountsYes
➡️ Compensation Fund MemberYes, ICF – this does not cover Botswanans
➡️ Compensation Amount20,000 EUR
➡️ SSL CertificateYes
➡️ 2FA (Where Applicable)Yes
➡️ Privacy Policy in PlaceYes
➡️ Risk Warning ProvidedYes
➡️ Negative Balance ProtectionYes
➡️ Guaranteed Stop-Loss OrdersNo

 

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 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 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
Standard1,300 BWP ($100)1.2 pipsOnly the Spread12 USD
Pro13,200 BWP ($1,000)0.6 pipsOnly the Spread6 USD
Raw+13,200 BWP ($1,000)0.0 pips$3.5 per side7 USD
ECN390,000 BWP ($30,000)0.0 pips$3.5 per side7 USD

 

FxPro Live Trading Account Details

Standard Account

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 Deposit1,300 BWP ($100)
💵 Forex SpreadFrom 1.2 pips on EUR/USD, GBP/USD, USD/JPY
📈 Gold SpreadFrom 25 cents, with an average of 30 cents
📉 Crypto SpreadFrom 30 USD, with an average of 40 USD
💸 Commission FeesNone, only the spread is charged
📊 Maximum Leverage1:500
💸 Minimum Trade Size0.01 lots
💵 Maximum Trade SizeUnlimited

 

Pro AccountPro 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 Deposit13,200 BWP ($1,000)
💵 Forex SpreadFrom 0.6 pips on EUR/USD, GBP/USD, USD/JPY
📈 Gold SpreadFrom 20 cents, with an average of 25 cents
📉 Crypto SpreadFrom 15 USD, with an average of 20 USD
💸 Commission FeesNone, only the spread is charged
📊 Maximum Leverage1:500
💸 Minimum Trade Size0.01 lots
💵 Maximum Trade SizeUnlimited

 

Raw+ Account

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 Deposit390,000 BWP ($30,000)
💵 Forex SpreadFrom 0.0 pips on EUR/USD, GBP/USD, USD/JPY
📈 Gold SpreadFrom 10 cents, with an average of 15 cents
📉 Crypto SpreadFrom 15 USD, with an average of 20 USD
💸 Commission FeesFrom $3.5 per side
📊 Maximum Leverage1:500
💸 Minimum Trade Size0.01 lots
💵 Maximum Trade SizeUnlimited

 

ECN Account

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 Deposit390,000 BWP ($30,000)
💵 Forex SpreadFrom 0.0 pips on EUR/USD, GBP/USD, USD/JPY
📈 Gold SpreadFrom 10 cents, with an average of 15 cents
📉 Crypto SpreadFrom 15 USD, with an average of 20 USD
💸 Commission FeesFrom $3.5 per side
📊 Maximum Leverage1:500
💸 Minimum Trade Size0.01 lots
💵 Maximum Trade SizeUnlimited

 

FxPro Demo Account

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 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 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 CurrenciesFxPro 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

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

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

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
⚖️ RegulationFCA, CySEC, SCB, FSCA, FSCFCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMACentral 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 FeeNoNoNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit1,300 BWP ($100)3,300 BWP ($250)1,300 BWP ($100)
📊 LeverageUp to 1:500• 1:30 (Retail, EU, UK)
• 1:222 (Professional)
• 1:30 (Retail)
• 1:400 (Pro)
📊 SpreadFrom 0.0 pips EUR/USDFrom 0.1 pips DMAFixed, from 0.9 pips
💰 Commissions$3.5 per sideFrom 0.10%None
✴️ Margin Call/Stop-Out100%/50%100%/50%• 25% – 50% (M)
• 10% (S/O)
💻 Order ExecutionMarketMarketInstant
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 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 RegulationNoNoNo
💳 BWP DepositsNoNoNo
📊 Botswana Pula AccountNoNoNo
👥 Customer Service Hours24/524/724/5
📊 Retail Investor Accounts471
☪️ Islamic AccountYesYes, DubaiYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size150 lots50 lots200 lots
💰 Minimum Withdrawal Time30 MinutesInstantInstant
📊 Maximum Estimated Withdrawal Time1 business day1 business day24 to 48 Hours
💸 Instant Deposits and Instant Withdrawals?Yes, DepositsYesYes

FxPro Trading Platforms

FxPro Trading Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

➡️ FxPro App

 

MetaTrader 4

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

👉 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

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

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?

FxPro Investment Programs

👉 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
Forex701:500
Share CFDs211:50 – 1:100
Indices191:50 – 1:100
Cryptocurrency2,000+1:25
Metals81:50 – 1:200
Energies31:200

Broker Comparison for a Range of Markets

🥇 FxPro🥈 IG🥉 AvaTrade
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoYes
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

FxPro Trading and Non-Trading Fees

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 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 Time1 business day1 business day24 to 48 Hours
Maximum Estimated Withdrawal Time7 business daysUp to five business daysUp to 10 days
Instant Deposits and Instant Withdrawals?Yes, DepositsYes, Deposits on PayPalNo

 

FxPro Deposit and Withdrawal Details – Payment Methods, currencies, processing time, etc.

💳 Payment Method💵 Deposit Currencies💳 Deposit Processing💸 Withdrawal Processing
Bank TransfersUSD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR1 – 3 days3 – 7 days
Credit/Debit CardsUSD, EUR, GBP, CHF, PLN, AUD, JPY, ZARInstant1 day
NetellerUSD, EUR, GBP, CHF, PLN, AUD, JPY, ZARInstant1 day
PayPalUSD, EUR, GBP, CHF, PLN, AUD, JPY, ZARInstant1 day
SkrillUSD, EUR, GBP, CHF, PLN, AUD, JPY, ZARInstant1 day
UnionPayUSD, EUR, GBP, CHF, PLN, AUD, JPY, ZARInstant1 day

How to Deposit Funds with FxPro

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

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

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 CalendarYesYesYes
➡️ VPSNoNoNo
➡️ AutoChartistNoNoNo
➡️ Trading ViewNoYesNo
➡️ Trading CentralNoYesYes
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes

 

👉 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

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

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 SupportFxPro’s Customer Support
⏰ Operating Hours24/7
🗣 Support LanguagesEnglish
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of FxPro Support3/5

FxPro Corporate Social Responsibility

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 ConditionsFxPro 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
Forex30% of the Spread30% of the Spread30% of the Spread30% of the spread + 24.50% per million USD traded10% of the execution spread or Bet Spread
Indices30% of the Spread30% of the Spread30% of the Spread30% of the Spread
Cryptocurrency30% of the Spread30% of the Spread30% of the Spread
Precious Metals30% of the Spread30% of the Spread30% of the Spread30% of the Spread + 24.50% per million USD traded
Energies30% of the Spread30% of the Spread30% of the Spread30% of the Spread
Shares30% of the Spread30% of the Spread
Soft Commodities30% of the Spread30% of the Spread30% of the Spread
Futures30% of the Spread30% of the Spread30% of the Spread
Payment FrequencyFxPro Offers monthly Cashback to tradersFxPro Offers monthly Cashback to tradersFxPro Offers monthly Cashback to tradersFxPro Offers monthly Cashback to tradersFxPro Offers monthly Cashback to traders

FxPro Web Traffic Report

💻 Global Rank92,362
💵 Country Rank10,407
📈 Category Rank120
📊 Total Visits775k+
📱 Bounce Rate61.04%
💵 Pages per Visit2.08
📊 Average Duration of Visit00:01:17
💻 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

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

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.

10/10 - (1 vote)

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