FXPro Broker Review For Africa In 2023

FXPro Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	CySEC, FCA, FSCA
💰 Minimum Deposit	$100 (40,000 Naira)
💳 Deposit Options	VISA, MasterCard, Bank Wire, AdvCash, Neteller, Skrill, GenialBanco, & more.
💳 Withdrawal Options	VISA, MasterCard, Bank Wire, AdvCash, Neteller, Skrill, GenialBanco, & more.
📌Open an account	Start Trading With FXPro

Our Opinion About FXPro

FXPro is a top online forex broker. They were first launched in 2006 and have since grown to be one of the best-known brands in the forex industry. They are a regulated company with licences from CySEC, the FCA, and the FSCA. FXPro provides a secure trading experience and good client fund protection. They are also an award-winning company that has won more than 50 awards in recognition of their online trading services.

When it comes to trading, FXPro has a great choice of trading accounts. They offer traders in Africa access to a wide range of financial markets – including forex, stocks, and indices. FXPro also offers traders in Africa the chance to trade with tight spreads, low minimum deposits, low spreads, and high leverage. These are optimal trading conditions for both new and more experienced traders.

When it comes to trading technology. FXPro has an excellent selection of free and paid tools. They offer you access to all of the top online trading platforms – including MetaTrader4 and MetaTrader5. They also have plenty of other tools – including chart indicators, economic calendars, market research, and trading calculators. This means that, if you choose to trade with FXPro, then you should have all the resources you need to analyse the markets and spot good trading opportunities.

Regulation And Safety

FXPro is a regulated forex broker. This means that they have obtained licences from regulatory authorities and abide by their regulatory requirements. This also means that they can operate in more regions and can offer their trading services in over 170 countries. Here is the list of their current licences and registrations.

• FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration no. 509956).
• FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence no. 078/07).
• FxPro Global Markets Limited is authorised and regulated by the Securities Commission of The Bahamas (licence no. SIA-F184).
• FxPro Financial Services Limited is authorised by the Financial Sector Conduct Authority (‘FSCA’) (authorisation no. 45052).

Regulation in Africa

Forex traders in Africa can open a trading account with the FxPro Global Markets Ltd business entity, which is regulated and authorised by the SCB. As such, traders in Africa can benefit from many important regulatory protections. For example, FXPro will ensure that your net equity never falls below 50 percent. They will also ensure that you benefit from negative balance protection. The SCB is not a well-known regulatory authority but it still monitors companies and offers some regulatory oversight. Regardless, FXPro is a trustworthy broker that offers excellent services and fund safety to all its traders.

Fund Safety

As a regulated forex broker, FXPro ensures it has extensive client fund safety measures in place at all times. They implement a strict segregated account policy. This means that they keep client funds in segregated accounts, separate from their own operational funds, to ensure that client money is not used for business purposes.

As a trustworthy broker, FXPro also aims to provide additional client fund protection where possible. For example, FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS) and FxPro Financial Services Limited is a member of the Investor Compensation Fund (ICF). This means that, if FXPro ever needs to close down unexpectedly due to bankruptcy, then many traders will be able to claim money back through these two compensation schemes.

FXPro Forex Awards

FXPro has an excellent reputation within the forex industry. They are well-regarded by their peers and have won more than 50 industry awards . They have won prizes for best forex provider, best forex broker, best forex trading tools, best forex platform, and more. Some of their recent awards include:

• Best Broker 2021 UK (Ultimate Fintech Awards)
• Best Forex Provider 2021 (Online Personal Wealth Awards)
• Best Trading Platform 2020 (Investors Chronicle & Financial Times).

FXPro: Legit Or Scam?

In our opinion, they are a legit broker. This is for a few reasons. Firstly, because they have been providing forex trading services for many years. This shows that they have a sustainable business model and that they treat their clients well. Secondly, because they are licensed by the relevant regulatory authorities and have the necessary client measures in place. This shows that they are serious about their responsibilities and about taking care of the clients. Finally, because they offer great trading accounts, fair trading conditions, and reasonable trading costs. They also have convenient payment options and a good level of client fund protection. In our opinion, this shows that they are a legit broker and that they are serious about offering competitive services.

FXPro Trading Assets

FxPro gives you access to a wide range of financial markets. They have over 2000 trading instruments for you to choose from, which is more than enough for any trader, regardless of their experience. You can pick from any of their main asset classes which include forex, shares, indices, futures, metals, and energies.

FXPro Trading Instruments

• Forex: They have 70+ forex instruments including major, minor, and exotic pairs.
• Shares: They have 1000+ CFD shares including Meta, Twitter, Google, and Tesla.
• Futures: They have futures on commodities, indices and energies.
• Indices: They have S&P500, the Nasdaq100, the FTSE100, and the Dow Jones 30.
• Spot Metals: FXPro provides access to gold, silver, and platinum.
• Spot Energies: FXPro offers access to spot energies such as Brent and WTI.,

FXPro Account Types

As you can see from the table below, FXPro has quite a good range of trading accounts. As part of our FXPro forex broker review, we have had a look at each of their accounts and summarised what trading conditions are available. What’s great about FXPro is that all of the accounts come with deep liquidity, fast trade execution, and no dealing desk intervention. This generally leads to better results for traders. They also have low spreads and commission fees. This leads to low trading costs for traders too.

Type	Spreads	Min. Deposit	Max. Leverage	Commission
MT4	From 1.7 pips	$100	1:200	$0
MT4 Instant	From 1.8 pips	$100	1:200	$0
MT5	From 1.6 pips	$100	1:200	$0
cTrader	From 0.3 pips	$200	1:200	$9 per lot
FXPro Edge	From 1.7 pips	$100	1:200	$0

MT4 Account

The FXPro MT4 Account has lots to offer new forex traders. It has good trading conditions. For example, you can trade with an average spread of 1.71 pips on EUR/USD . You can also trade with zero commissions. It has good leverage, and you can trade with up to 1:200, depending on what you want to trade. The minimum deposit is $100 on this account, and the base currency is USD. As the name suggests, this account is available on MT4.

MT4 Instant Account

The FXPro MT4 Instant Account also has plenty to offer different traders. For example, it has an average spread of 1.84 pips on EUR/USD, and it has commissions. It also has standard leverage of up to 1:200.. What’s great about this account is that It comes with instant trade execution, and that you can trade in micro lots. These are great trading conditions for beginners. The minimum deposit is $100 on this account too, and the base currency is USD. As the name suggests, the account is available on MT4.

MT5 Account

The FXPro MT5 Account could be a nice choice for intermediate traders. It has similar benefits to the other accounts, including an average spread of 1.65 pips on EUR/USD, as well as zero commission trading. However, it runs on the MT5 trading platform, which means that you can potentially access more trading tools.. The FXPro minimum deposit for an MT5 account is $100, the maximum leverage is 1:200, and the base currency is USD.

cTrader Account

The cTrader Account could be a nice choice for experienced traders. It has an average spread of 0.31 pips on EUR/USD and a $9 per lot commission fee. This means that the trading costs are slightly more predictable. It also has plenty of trading instruments. You can choose from forex, metals, indices, and energies. The FXPro minimum deposit for the cTrader account is $100, the maximum leverage is 1:200, and the base currency is USD.

FXPro (EDGE) Account

The FXPro Edge Account is another great choice for experienced forex traders. It has quite low pricing. For example, it has an average spread of 1.71 pips on EUR/USD, and there are no commission fees. There is also a nice range of trading assets. You can choose from forex, metals, indices, and energies. The FXPro minimum deposit for this account is $100, the maximum leverage is 1:200, and the base currency is USD. The account is only available on FXPro’s proprietary Edge trading platform.

FXPro Demo Accounts

FXPro does its best to help new traders be successful on the markets. That’s why, like many other forex brokers in Africa, FXPro offers a demo trading account for new traders. A demo trading account can be a really helpful tool to have. For example, you can use it to work on your online trading skills and to test different forex trading strategies. You can also use it to get a better understanding of the financial markets and to learn more about what being a forex trader involves on a day-to-day basis. The demo account works using virtual credit, instead of real funds, and is a risk-free trading environment.

FXPro Islamic Accounts

There are Islamic swap-free versions of all the FXPro trading accounts. If you’d prefer a swap-free version, then you can request one during the account registration process. It’s worth noting that additional commission fees may apply on swap-free versions.

FXPro PAMM Accounts

FXPro doesn’t have PAMM trading accounts at the moment. This means that forex traders in Africa are unable to access managed account services with this particular forex broker.

Base Currencies

They have USD, EUR, GBP, CHF, PLN, AUD, JPY, and ZAR as base currencies.

FXPro Leverage

FXPro offers fairly high leverage. The maximum leverage available at FXPro is 1:200. This is slightly lower than the leverage available with other forex brokers in Africa. However, it is still more than enough for most forex traders to use and to trade profitably with.

FXPro Spreads

FXPro is one of the best forex brokers in Africa when it comes to spreads. The MT4, MT5, and FxPro Edge accounts have very competitive spreads. For example, the minimum spread is 1.4 pips on the MT4 account, 1.52 pips on the MT5 account, 1.41 on the Edge account. The cTrader account has slightly better spreads. This is because it has commission fees too. The minimum spread is around 0.31 on the cTrader account.

FXPro Commission

FXPro is also one of the best forex brokers in Africa when it comes to commission. The MT4, MT5, and FxPro Edge accounts all come with tight spreads and zero commission trading. The cTrader account does have a small commission fee of $9 commission per lot.

FXPro Registration: How To Open An Account

As part of our FXPro broker review, we had a look at their online registration process. If you live in Africa, then you can open an FXPro online trading account. The account registration process is quite straightforward and you can open an account very easily. The first step is to go to their website and fill in the form. This is so that FXPro can ask for your personal details and start creating your account. You also need to give them an email address and password. These will be your account login details.

The next step is to complete a short forex trading quiz. This is so that FXPro can find out what you know about forex trading and decide if their services are suitable for you. If you pass the quiz, then you can continue with your account application. The final step is to complete the KYC (Know Your Customer) process, submit your documents, and select your account type. This is so that FXPro can complete all of their regulatory checks and approve your trading account. After that, you can add funds, using your chosen FXPro payment method, and start trading.

FXPro Registration: How To Verify An Account

To open a live trading account, you need to go through the KYC process, also sometimes known as account verification process. The KYC process is a legal requirement and enables forex companies to confirm your identity. The process is quite easy. They will ask for a proof of ID and a proof of address. You can send them copies of your National ID card, Passport or Driving License. You can also send them copies of a utility bill or a bank statement registered in your name. After you have verified your account, you can add funds and start trading.

FXPro Deposits

As part of our FXPro broker review, we checked what payment methods you can use to deposit money into your account.. They have a few different deposit options, which makes the funding process much easier. You can choose from debit card, credit card, and bank wire transfer. You can also choose from PayPal, Neteller, Skrill, depending on where you live. There are also no deposit fees, which makes the funding process cheaper.

FXPro Minimum Deposit

FXPro has fairly low minimum deposits. The FXPro minimum deposit is $100 or the equivalent amount in other accepted currencies. The minimum deposit is the same across all of their trading accounts. This means you can choose your trading account based on the features you want and the trading conditions that best meet your needs.

Deposit Times – How Long Does It Take

FXPro is quite good at processing transactions. The average deposit time for debit card , credit card, Neteller, and Skrill is around 10 minutes. However, the average deposit time for bank wire transfers is slightly longer, depending on the banks involved.

FXPro Withdrawals

As part of our FXPro withdrawal review, we checked what payment methods can be used for withdrawals. In our opinion, FXPro has a good choice of withdrawal methods, as well as low withdrawal fees, and fast processing times. They offer withdrawals via debit card, credit card, and bank wire transfer. It also offers withdrawals via PayPal, Neteller, and Skrill.

Withdrawal Times

The FXPro withdrawal times are generally quite good. The average withdrawal time for debit card, credit card, Neteller, and Skrill is around 10 minutes. However, the deposit time for bank wire transfers may be longer, depending on the banks involved.

Withdrawal Fees

FXPro does not usually charge withdrawal fees. However, there are a few circumstances in which they might charge additional rates. For example, if you deposit money but don’t trade, then there is sometimes a charge for withdrawals.

Maximum Withdrawal

The maximum withdrawal amount is $10,000.

Trading Platforms

FxPro offers a nice selection of trading platforms. There is something for everyone. You can choose between MetaTrader4, MetaTrader5, cTrader and their own FxPro trading platform.

MetaTrader4 (MT4) could be a nice option for new forex traders in Africa. It is easy to use and comes with plenty of trading tools. You can use it to access the financial markets and trade top instruments such as forex, stocks, and indices. The FXPro MT4 platform also has some nice features including charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. You can use it to plan out your trades and manage your risk.

MetaTrader5 (MT5) could be a good choice for intermediate forex traders in Africa. It has a simple layout and is easy to navigate. You can use it to research and trade top instruments including forex, metals, and energies. The FXPro MetaTrader5 platform has a nice range of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has more functionality than MetaTrader4 and you can use it for more advanced trades.

cTrader is a powerful trading platform and rival to the MetaTrader platforms. It comes with a clean interface that is easy to use. You can use it to access and trade a wide range of CFD trading instruments including forex, metals, and stocks. The FXPro cTrader platform also has plenty of nice trading tools. It comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. As such, it is a great trading platform.

If you’re looking for more options, you can always try FXPro Edge. This is the broker’s own proprietary trading platform. It has a customisable layout and two design options. It also has detachable chart windows and many helpful trading widgets. The FXPro Edge platform comes with 6 order types, 50+ technical indicators, and many helpful charting tools. It is also easily accessible across all devices.

Trading Tools

FxPro has plenty of free trading tools. On the FXPro trading dashboard, you will find a currency movers chart, a price ticker chart, and a client position chart.. You will also find a positions volume chart, a price volatility chart, and an economic calendar. On their trading calculator page, you can also access a free ‘all-in-one’ calculator.

FXPro VPS Services

FXPro also offers a VPS service in partnership with a company called BeeksFX. The FXPro Virtual Private Server enables you to run your MT4 Expert Advisors and cAlgo Robots all day, even when your terminal is switched off. This means you get more uptime and better overall connectivity. It also means you benefit from a smoother, more consistent online trading experience.

Forex Education

As part of our FXPro review, we had a look to see what educational resources they can offer new traders. FxPro has several free online courses. The courses cover basic topics and are designed to help traders improve their online trading skills. FxPro also has several helpful video tutorials that show you how to open a trading account and how to verify an account. They also show you how to use a trading platform, and how to add funds.

FXPro Trading Hours

FXPro operates during standard market hours. You can open trades with FXPro whenever the financial markets are open. Trading hours might be different on public holidays.

FXPro Customer Support

FXPro has a great customer service team. They are quick to respond to requests and offer good, accurate advice about your accounts. You can contact them 24/5, Monday to Friday. They are usually available via email, phone and live chat.

Our Verdict

FXPro is a regulated forex broker. They offer good account options, good trading conditions, and transparent trading costs. They give you access to a large number of trading instruments, as well as high leverage, and top trading platforms. As such, they offer one of the best online trading services in Africa. When it comes to trading, they ensure you have a safe online trading environment and a high level of client fund protection. They also place a high value on trading support. They offer both educational resources and great trading tools. FXPro also provide a wealth of market research and good customer service.. As such, they are a great option for both new and experienced forex traders.

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