Here is my FXPro review. I have a live fix spread account with this broker and here is my frank opinion of trading with them.
I must emphasize I am a sucker for fix spread account because I love to trade news release and
brokers with fix spread that doesn’t open up during news release are my favourites.
General Info About FXPro
Registered its business since 2006 and there are 2 registered business. FXPro Fiinancial Services
Limited, regulated CySEC and FSB whereas FXPro UK Limited is regulated by the FCA.
With No Dealing Desk execution and also offering Negative Balance Protection using an automated monitoring system to protect clients from losing more than their original investment.
Flexible deposit and withdrawal methods covering almost all avenues making it very easy for clients to open and fund their accounts. Clients can choose to deposit in one of the following currencies, USD, GBP, CHF, EUR, PLN, AUD, and JPY
With a choice to use floating or fixed spreads on the various trading platforms, MT4, MT5, Ctrader.
There are PAMM account and also the FXPro SuperTrader account, a fully automated invested platform to those who want to copy automated trading strategies to meet their investment goals within their own risk parameters.
Customer support is great, available in multiple languages through email, live chat or on the phone.
Trading with FXPro
I have been using FXPro to trade for about a year and I thought I have found THE broker for news trading however my happiness was short lived.
My trades were executing and closing nicely with some slippage which is understandable and risk that I am willing to take since slippage during news release is very normal with price moving very fast.
However I have been seeing very large slippage in my trading lately.
Slippage such as opening price is beyond my TP price thus leaving my TP at 0.00 when trade opens.
Now of course this is serious slippage because when such things happen, I have to be there to close my trades manually since there’s no TP.
Consolation is SL is there, so worst case is price go back to hit SL which will result in higher loss
than originally planned.
Will I Continue To Trade With FXPro?
I will continue to trade with FXPro for the time being till I find another broker that better meet my needs for news trading.
Meanwhile, I have already switched to trading other strategy with this account.
Good Luck and Safe Trading