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 Tanzania.
- 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
- 4.6/5
Min Deposit
USD 100 / 233 400 TZS
Regulators
FCA, CySEC, FSCA, SCB
Trading Desk
MT4
Crypto
Yes
Total Pairs
70
Islamic Account
No
Trading Fees
High
Account Activation Time
24 Hours
FxPro Review – 17 key points quick overview:
- AvaTrade Overview
- Regulation and Safety of Funds
- Account Types and Features
- Account Registration
- AvaTrade Vs Exness Vs JustMarkets – Broker Comparison
- AvaTrade Trading Platforms
- AvaTrade Range of Markets
- AvaTrade VS Exness VS JustMarkets Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- The process to Withdraw Funds from an AvaTrade Account
- AvaTrade Education and Research
- Bonuses and Promotions
- AvaTrade Affiliate Program
- Verdict on AvaTrade
- AvaTrade Pros and Cons
- Frequently Asked Questions
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.
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 | 4/5 |
| 💰 Trading Platform | 4/5 |
| 📚 Education | 4/5 |
| 💵 Research | 4/5 |
| ⚖️ Regulation | 5/5 |
| 📱 Mobile Trading | 4/5 |
| ✔️ Trust Score | 90% |
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 Tanzanian traders who choose FxPro
👉 FxPro is one of the Top 250 forex and CFD brokers for beginners and professional traders.
FxPro Regulation and Safety of Funds
FxPro Regulations in Tanzania
👉 FxPro is not currently regulated by the Bank of Tanzania (BoT). 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 Tanzanian Traders and Client Funds
| 💻 Security Measure | ℹ️ Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | Yes, ICF – this does not cover Tanzanians |
| 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 safeguards to ensure traders’ safety while trading online with the broker:
➡️ FxPro has a team of professionals who continuously monitor security and are prepared to respond to problems or suspicious behaviour concerning online payments.
➡️ A determined Data Protection Officer oversees compliance with GDPR
➡️ Other parties periodically review FxPro.
➡️ FxPro requires that all passwords meet length and complexity standards.
➡️ Two-Factor Authentication has been implemented.
➡️ Traders receive email notifications anytime their passwords are modified.
Pros and Cons Regulation and Safety of Funds
| ✔️ PROS | ❌ CONS |
| FxPro is hailed as a trusted broker with a trust score of 90%, making it a low risk | Tanzanians could face some restrictions in terms of protection because FxPro is not regulated locally |
| FxPro is transparent and has strict procedures in place to safeguard clients | |
| Investor protection is available to eligible clients | |
| FxPro keeps all client funds in segregated accounts |
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
| 💻 Live Account | 💰 Minimum Dep. | 📈 Average Spread | 💸 Commissions | 📊 Average Trading Cost |
| Standard | 230,000 TZS ($100) | 1.2 pips | Only the Spread | 12 USD |
| Pro | 2.3m TZS ($1,000) | 0.6 pips | Only the Spread | 6 USD |
| Raw+ | 2.3m TZS ($1,000) | 0.0 pips | $3.5 per side | 7 USD |
| ECN | 70.1m TZS ($30,000) | 0.0 pips | $3.5 per side | 7 USD |
FxPro Live Trading Account Details
Standard Account
👉 FxPro’s Standard Account suits those wishing to trade exclusively with bid-and-ask prices without incurring commissions.
👉 This FxPro account type allows traders to participate in foreign exchange, commodities, indices, energy, futures, cryptocurrencies, and stock trading, all with no commissions and just a spread.
| 💰 Minimum Deposit | 230,000 TZS ($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
👉 FxPro’s Pro Account is a highly recommended option for investors who wish to trade with bid-and-ask prices without paying additional costs. This account type offers the same access to markets and assets as FxPro MT4 and MT4 Immediate.
| 💰 Minimum Deposit | 2.3m TZS ($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
👉 The FxPro Raw+ Account is designed for traders seeking the tightest spreads across all financial markets to capitalize on volatile market fluctuations. Traders who select this account get zero-pip spreads but are liable to a $3.5 per side commission on Forex.
| 💰 Minimum Deposit | 2.3m TZS ($1,000) |
| 📊 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
👉 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.
| 💰 Minimum Deposit | 70.1m TZS ($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
👉 Creating a demo account is the best way to begin using a new platform. This account provides users a realistic, simulated virtual currency trading experience, allowing them to test the market’s waters without risking actual funds.
👉 You can decide how much virtual currency you will have on your FxPro demo account’s balance, which is a fascinating option. Request it from FxPro’s agents, and they will add $500 to $100,000 to your account.
👉 The demo account resembles reality as closely as possible, granting users temporary access to all the platform’s features. This account is valid for 180 days after it is established, but if you need more virtual practice, you can make a new one as often as you like after the old one has expired.
FxPro Islamic Account
👉 This account is designed for traders who wish to comply with Sharia law. A swap-free Islamic account does not charge any swap or rollover interest on overnight positions.
👉 The Islamic account is identical to other regular accounts in all other ways. Therefore, it is an ideal opportunity for traders who adhere to Shariah law.
FxPro Professional Account
👉 FxPro does not currently offer a dedicated account for Professional Kenyan Traders.
FxPro Spread Betting Account
👉 FxPro UK Limited offers Spread Betting to all customers in the United Kingdom through its proprietary Spread Betting Platform, FxPro Edge. FxPro Edge is a trading platform that permits tax-free trading on several hundred products and six asset types.
👉 FxPro Edge’s widget-based user interface can be customized to meet your trading requirements. In addition, you can trade instantly from the chart, the ticker, or by generating your own quick trade setups.
👉 In addition, about fifty technical indicators, price alerts, and additional tools are available.
FxPro Base Account Currencies
👉 Tanzanian traders can register a live trading account using these currencies:
➡️ USD
➡️ EUR
➡️ GBP
➡️ CHF
➡️ PLN
➡️ AUD
➡️ JPY
➡️ ZAR
👉 However, because TZS is not on the list, it might lead to currency conversion fees for Tanzanian traders who deposit or withdraw funds in local currency.
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, Stop Loss and Take Profit Orders can accompany Market 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 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 Tanzanian traders.
Requotes
👉 Market Execution is implemented on FxPro MT5 and FxPro cTrader platforms, eliminating the possibility of requotes. Although, Tanzanian traders on FxPro MT4 Immediate accounts may experience requotes during 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.
Pros and Cons FxPro Account Types and Features
| ✔️ PROS | ❌ CONS |
| FxPro offers four flexible account types | There are wide spreads on the Standard Account |
| Traders can register a demo account | The demo is limited |
| FxPro accommodates Islamic Traders by offering a Swap-Free Account |
How to open an Account with FxPro
👉 To register an account with FxPro, Tanzanian traders can follow these easy steps:
➡️ To register for a FxPro account, navigate to www.fxpro.com and select the “Register” button in the top right corner of the homepage.
➡️ This link will take you to a registration page where you must submit personal information such as your name, email address, phone number, and country of residence.
➡️ After entering your details, choose the account type you desire to open from the options presented by FxPro, which include demo, Standard, Pro, Raw+, and ECN accounts.
➡️ Submit the form and await account approval, which may necessitate further identification documents.
➡️ Once your account has been approved, log in using the credentials provided by FxPro, then fund your account using a bank transfer, credit/debit card, or e-wallet.
👉 Choose your favourite trading platform and market instruments before beginning trading.
How to close My Account with FxPro
👉 To close a live trading account with FxPro, Tanzanian traders can follow these steps:
➡️ Use your credentials to log in to your account.
➡️ Go to the “MyFunds” tab and choose “Withdraw” from the drop-down menu.
➡️ Select your withdrawal method and follow the on-screen instructions to complete the transaction.
➡️ Verify that there are no open positions in your account before withdrawing.
➡️ Once all monies have been removed, contact FxPro’s customer service department to close your account.
➡️ Explain why you are cancelling your account and provide any pertinent feedback.
➡️ FxPro will evaluate your request and confirm the cancellation of your account.
FxPro MAM / PAMM Features
👉 The FxPro Multi Account Manager (MAM) is a sophisticated trading solution designed for money managers, allowing them to manage transactions on behalf of multiple clients.
👉 This feature is specifically tailored for money managers who oversee multiple accounts and provides a convenient way to manage and trade across various accounts from a single master account.
👉 The FxPro MAM account comes with various features that streamline the management of multiple accounts, including the ability to execute orders across multiple accounts with different allocation methods and lot sizes.
👉 Additionally, the FxPro MAM account provides a selection of allocation methods, such as percentage allocation, lot allocation, and equity allocation, as well as a comprehensive reporting system that allows money managers to generate reports on trades, account balances, and performance.
👉 One of the primary benefits of the FxPro MAM account is its ability to customize trading conditions for each client, making it an ideal option for money managers with clients having varying risk tolerance or investment objectives.
👉 Furthermore, Money managers can also set different commission structures for each client.
👉 To use the FxPro MAM account, money managers must first create a master account with FxPro, add individual accounts to the master account, and set the allocation method, lot size, and other trading conditions.
👉 From there, money managers 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. It has customizable trading conditions and an advanced reporting system making 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 Tanzanian traders.
Broker Comparison
| 🥇 FxPro | 🥈 XM | 🥉 Alpari | |
| ⚖️ Regulation | FCA, CySEC, SCB, FSCA, FSC | FSCA, IFSC, ASIC, CySEC, DFSA | FSC |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • cTrader • FxPro App | • MetaTrader 4 • MetaTrader 5 • XM Mobile App | • MetaTrader 4 • MetaTrader 5 • Alpari Mobile App |
| 💰 Withdrawal Fee | No | No | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 230,000 TZS ($100) | 116,000 TZS ($5) | 116,000 TZS ($5) |
| 📈 Leverage | Up to 1:500 | 1:888 | 1:1000 |
| 📊 Spread | 0.0 pips EUR/USD | 0.0 pips | From 0.4 pips |
| 💰 Commissions | $3.5 per side | $1 to $9 | $1.5 |
| ✴️ Margin Call/Stop-Out | 100%/50% | • 50%/20%, • 100%/50% (EU) | • 60% to 120% • 30% to 100% |
| ✴️ Order Execution | Market | Market, Instant | Market, Instant |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • Standard Account • Pro Account • Raw+ Account • ECN Account | • Micro Account • Standard Account • XM Ultra-Low Account • Shares Account | • Standard Account • Micro Account • ECN Account • Pro Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 TZS Deposits | No | No | No |
| 📊 Tanzanian Shillings Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 4 | 4 | 4 |
| ☪️ Islamic Account | Yes | Yes | Yes |
FxPro Trading Platforms
👉 Tanzanians can choose from the following platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
➡️ FxPro App
MetaTrader 4
👉 MT4 is the go-to platform for many brokers due to its reliability and familiarity. While it may not be as fast or feature-rich as cTrader, its user-friendly interface makes it an ideal option for new traders.
👉 However, more experienced investors may prefer cTrader or MT4’s newer counterpart for additional features and faster order execution.
MetaTrader 5
👉 MetaTrader 5 (MT5) builds upon the success of its predecessor while introducing new features and eliminating some of its bugs. Its five categories of technical indicators, including a customizable category, make technical analysis much more accessible.
👉 MT5 also offers powerful auto-trading tools like a trading script and expert advisor.
cTrader
👉 cTrader boasts more features than the MetaTrader platforms, making it a preferred choice for experienced traders who can leverage its complexity.
👉 Designed for use by ECN brokers such as FxPro, the platform’s clean, intuitive design allows easy adaptation. cTrader’s charting tools are also highly customizable, allowing traders to view multiple charts simultaneously.
FxPro App
👉 FxPro Direct is not a trading platform but an account management application that provides news and market rates.
👉 What sets it apart from other mobile trading apps is its speedy registration process and user-friendly interface, making account management effortless. FxPro Direct also prioritizes account security, ensuring users’ accounts are highly encrypted to prevent compromise.
Pros and Cons FxPro Trading Platforms
| ✔️ PROS | ❌ CONS |
| FxPro offers an impressive suite of platforms that can be used | FxPro Direct is not offered on desktop or web browsers |
| Tanzanians can choose between trading on the web, desktop, or mobile version of MetaTrader or cTrader | |
| FxPro offers an innovative mobile platform |
FxPro Investment Programs
👉 FxPro does not offer a separate investment program for Tanzanians.
Which Markets can You Trade with FxPro?
👉 Tanzanian 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 |
| Futures | 21 | 1:50 – 1:100 |
| Indices | 19 | 1:50 – 1:200 |
| Shares | 2,000+ | 1:25 |
| Metals | 8 | 1:50 – 1:200 |
| Energies | 3 | 1:200 |
| Cryptocurrency CFDs | 30 | 1:20 |
FxPro Trading and Non-Trading Fees
Spreads
👉 The variable spread mark-ups of FxPro indicate that, for certain accounts, the broker will take a share of the spread itself. In contrast, the broker will charge a flat commission fee for others. Below is a breakdown, per account type, of the average spreads that FxPro clients can anticipate:
➡️ 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 Tanzanians 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 cost of the broker is included in the spread. However, according to FxPro, the Basic and Pro accounts have no additional commission fees.
👉 For traders with Raw+ and ECN Accounts, zero-pip spreads and commissions beginning at $3.5 per side, depending on the financial instrument, are standard.
Overnight Fees, Rollovers, or Swaps
👉 If you leave a position open overnight, a swap/rollover fee will be assessed to cover the cost of funding your transaction. The swap will be applied to the client’s account at 23:59 UK time and converted to the account’s base currency.
👉 The swap is calculated and charged once every business day on FxPro, MT4, and cTrader, apart from Friday, when it is charged three times due to the weekend rollover (Friday – Monday).
Deposit and Withdrawal Fees
👉 Tanzanians do not pay any fees when they deposit or withdraw funds.
Inactivity Fees
👉 Inactivity fees between $5 to $15 might apply.
👉 Furthermore, according to the rules that new clients must agree to open an account, FxPro can remove all cash from inactive accounts after a lengthy period of inactivity.
👉 Therefore, Tanzanians must read the client agreement before opening an account with FxPro. Furthermore, they must ensure they know what they are doing before trading and maintain an active account to avoid losing money.
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Currency Conversion Fees
👉 Currency conversion fees will be charged if Tanzanians deposit and withdraw in currencies other than USD, EUR, GBP, CHF, PLN, AUD, JPY, or ZAR.
Other Trading / Non-Trading Fees
👉 There are no other major trading or non-trading costs currently. Nonetheless, traders must confirm all fees with FxPro before account registration. Also included are expenses for third-party services such as VPS.
Pros and Cons FxPro Trading and Non-Trading Fees
| ✔️ PROS | ❌ CONS |
| FxPro charges zero-pip spreads on some accounts while offering commission-free trading on others | Currency conversion fees might apply |
| Tanzanians can rest assured knowing that hidden fees are not charged | There might be inactivity fees |
| There are no fees when traders deposit or withdraw | The Standard Account has high mark-ups on spreads |
| FxPro is transparent about trading and non-trading fees |
Broker Comparison for a Range of Markets
| 🥇 FxPro | 🥈 XM | 🥉 Alpari | |
| Forex | Yes | Yes | Yes |
| Precious Metals | Yes | Yes | Yes |
| ETFs | No | No | No |
| CFDs | Yes | Yes | Yes |
| Indices | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes |
| Cryptocurrency | Yes | No | Yes |
| Options | No | No | No |
| Energies | Yes | Yes | Yes |
| Bonds | No | Yes | No |
FxPro Deposits and Withdrawals
👉 FxPro offers Tanzanian traders the following deposit and withdrawal methods:
➡️ Bank Transfers
➡️ Credit/Debit Cards
➡️ Neteller
➡️ PayPal
➡️ Skrill
➡️ UnionPay
Broker Comparison: Deposit and Withdrawals
| 🥇 FxPro | 🥈 XM | 🥉 Alpari | |
| Minimum Withdrawal Time | 1 business day | 1 business day | Instant |
| Maximum Estimated Withdrawal Time | 7 business days | 5 working days | 3 to 5 Business Days |
| Instant Deposits and Instant Withdrawals? | Yes, Deposits | Yes, Deposits | Yes |
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, Tanzanian traders can follow these steps:
➡️ Log in to your FxPro account or create a new one if you do not already have one.
➡️ To make a deposit, tap the “Deposit” button in the upper right corner of the screen.
➡️ Choose the best way for you to deposit money below. FxPro lets you make deposits in several ways, such as through wire transfers, credit/debit cards, and e-wallets like Neteller and Skrill.
➡️ Follow the on-screen instructions for the payment method you want to use to make a deposit.
➡️ Once the transaction is processed and confirmed, the deposit amount will be added to your FxPro account.
How long do FxPro Deposits take?
👉 With FxPro, the time it takes to process a deposit depends on the method used to make the deposit. For example, clearing a bank transfer deposit usually takes two to five business days.
👉 When you use a credit card, debit card, or electronic wallet to make a deposit, it is usually done immediately or within a few hours. But if you want to know how long it will take for FxPro to process your deposit, you should call their customer service.
FxPro Fund Withdrawal Process
👉 To withdraw funds from an account with FxPro, Tanzanian traders can follow these steps:
➡️ Go to the “MyFunds” tab after logging in to your account.
➡️ From the drop-down menu, choose “Withdraw” and choose the method you want to use to get your money.
➡️ Follow the instructions given to finish the process of withdrawing money.
➡️ Before taking money out of your account, ensure there are no open positions.
➡️ Once you have withdrawn your money, contact FxPro’s customer service to close your account.
➡️ Give why you want to close your account and any other feedback you might have.
➡️ FxPro will review your request and inform you that your account has been closed.
How long do FxPro Withdrawals take?
👉 How long it takes to process a FxPro withdrawal depends on a few things, such as the withdrawal method used and the status of the client’s account verification. However, here are some general guidelines:
➡️ Withdrawals to e-wallets like 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.
➡️ Withdrawals to bank wire can take up to 5 business days to process. But it may take longer, depending on the client’s bank and where they live.
👉 Tanzanians should know that FxPro may need more verification steps before processing a withdrawal request, which can slow down the process.
👉 Therefore, Tanzanian traders should ensure that their trading account has been fully verified and have sent in all the necessary documents to avoid delays.
FxPro Education and Research
Education
👉 FxPro offers the following Educational Materials to Tanzanian traders:
➡️ 9 Online Courses
➡️ 4 Fundamental Analysis Courses
➡️ 5 Technical Indicator Courses
➡️ Trading Psychology
➡️ Several educational YouTube videos
Research and Trading Tool Comparison
| 🥇 FxPro | 🥈 XM | 🥉 Alpari | |
| Economic Calendar | Yes | Yes | Yes |
| VPS | No | Yes | Yes |
| AutoChartist | No | Yes | Yes |
| Trading View | No | Yes | Yes |
| Trading Central | No | No | Yes |
| Market Analysis | Yes | Yes | Yes |
| News Feed | Yes | Yes | Yes |
| Blog | Yes | Yes | Yes |
👉 FxPro also offers Tanzanian 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
👉 When Tanzanians sign up with FxPro, they do not get any bonuses or deals. The FxPro cashback rebates program, on the other hand, lets traders earn up to 30% of the spread.
How to open an Affiliate Account with FxPro
👉 To register an Affiliate Account, Tanzanians can follow these steps:
➡️ To become a FxPro partner, go to their website and click on the “Partners” tab.
➡️ Complete the registration form with your name, email address, phone number, and country of residence.
➡️ Choose the type of collaboration you wish to pursue (Introducing a Broker, Affiliate, etc.).
➡️ Enter the additional information your chosen relationship type requires, such as your firm name and website for Affiliate accounts.
➡️ By clicking “Register,” you acknowledge that you have read and accept the Partnership Program Terms & Conditions.
➡️ The login information for your affiliate account and a confirmation email will be provided immediately after you join up.
➡️ Sign into your affiliate account to receive commissions for referring clients to FxPro.
FxPro Affiliate Program Features
👉 Tanzanians can expect the following features from a partnership with FxPro:
➡️ FxPro is a highly regarded online broker due to its innovative trading platforms, affordable rates, and helpful, knowledgeable support staff.
➡️ 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’s partnership program provides partners with all they need to build a successful relationship with FxPro and make a considerable income from client referrals.
➡️ Partners may reach out to a dedicated account manager for help whenever they need it.
➡️ 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.
➡️ In addition, partners can access various promotional tools, including banners, landing pages, and other creatives, to spread the word about FxPro.
FxPro Customer Support
| 📱 Customer Support | 💻 FxPro Customer Support |
| Operating Hours | 24/5 |
| Support Languages | Multilingual |
| Live Chat | Yes |
| Email Address | [email protected] |
| Telephonic Support | Yes |
| Local Support in Tanzania? | Yes |
| The overall quality of FxPro Support | 5/5 |
FxPro Corporate Social Responsibility
👉 FxPro is dedicated to fostering long-lasting relationships with the communities in which it operates. FxPro supports numerous charitable organizations, including UNICEF, the Red Cross, local and international hospitals, care facilities, and charitable fundraising activities.
👉 As a worldwide company with a varied and multi-ethnic staff, FxPro realizes that its charity efforts will have a bigger impact if its employees may support the charities of their choice.
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 Tanzania) 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 | – | – | – |
| Futures | 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 Cashback Forex Conditions and Additional Notes
👉 Cashback rebates are available to clients who have a verified trading account and meet the following requirements:
➡️ The client must opt-in to the cashback incentive program via their FxPro trading account.
➡️ Traders must trade at least 10 lots monthly with a minimum account balance of $500. (1.1m TZS).
➡️ The monthly trading volume determines the cashback rebate, and traders can receive up to 30 percent of the spread back.
➡️ The cashback rebate is automatically sent to the client’s trading account each month.
➡️ It is crucial to remember that clients can only get cashback refunds on closed trades; the cashback rebate does not apply to trades opened before opting into the program.
➡️ Additionally, FxPro reserves the right to modify or terminate the cashback reward program at any time. Therefore, clients are advised to evaluate the program’s terms and conditions periodically.
➡️ Tanzanian traders interested in FxPro’s cashback rebate program should carefully understand the terms and conditions and contact FxPro’s customer service staff for additional information or clarification.
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 well-known CFD and forex broker that has been offering its trading services for over a decade. The broker is recognized for its reliability and established position in the market.
👉 One of FxPro’s main advantages is its outstanding customer service, which boasts a five-star rating. A multilingual support team is available Monday through Friday (24/5). In addition, the team is well-trained to handle various issues and inquiries, delivering fast and helpful client responses.
👉 Nevertheless, active traders and experts might discover that trading fees reduce profits. Although FxPro offers competitive spreads, commissions apply based on the account type and trading instrument.
👉 Therefore, traders should meticulously review the fee structure and weigh the impact on their trading strategy.
FxPro Alternatives
➡️ Interactive Brokers is an excellent option for seasoned, active traders. The company is distinguished by its low costs, discounts, and robust trading platform. Yet, novice and casual investors may feel intimidated.
➡️ Plus 500 – Several critics have praised Plus500, notably for its superior mobile application. Plus500 does not permit scalping; thus, if this is your approach, you should not use this platform. Plus500 is straightforward when it comes to account types. There are just two accounts: a demo account and an upgradeable ordinary retail account.
➡️ IG is a renowned online trading and investment supplier of spread betting and CFD trading and a global leader in Forex, providing access to thousands of markets via its user-friendly platforms. The provider of trading and investments has a strong client focus and has designed its tools and services to aid traders in making lucrative and informed deals.
Latest Existing/Previous Customer Comments on FxPro for 2022/3
➡️ William Taylor (November 2022) “I am currently exploring FxPro Quant, a service that allows the creation of algorithms without prior programming knowledge. Despite not being skilled in mathematics, I have already created two automated strategies using this service. I am testing them on a demo account. In addition to automated trading, I manually trade on a MetaTrader 5 account with market execution through this broker.”
➡️ Aspen Adams (August 2022) “Although I was not previously acquainted with FxPro, recommendations from friends piqued my interest in the broker. While I initially believed the best broker was simply one that allowed me to profit quickly, I was impressed by the intriguing VPS system offered by FxPro. This system enables traders to continuously upload and run their MT4 Expert Advisors and cAlgo Robots without keeping their trading terminal running.”
➡️ Lilith Hale (January 2022) “My experience with this broker has been positive overall. The broker meets modern requirements, and the performance of the trading terminal is satisfactory. I am pleased with the terms and conditions, which do not prohibit using advisors. I have found the withdrawal process efficient. However, I do not recommend trading on news as spreads can sometimes widen.”
Recommendations according to our in-depth review of FxPro
👉 FxPro provides a range of research tools and news that receive positive feedback. However, they are not considered to be at the pinnacle of excellence.
👉 The trading platforms offer numerous technical analysis tools. Clients can stay abreast of the latest developments in the forex market by accessing FxPro’s daily-updated blog.
👉 However, FxPro’s educational resources fall below the industry average. Compared to most other brokers, FxPro offers few beginner-level lessons and poorly-structured courses.
👉 FxPro could add more tools and educational materials to combat these shortcomings to support and help clients regardless of their trading skills or objectives.
FAQ
Does FxPro have VIX 75?
FxPro does not have VIX 75.
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.
Does FxPro offer demo accounts?
Yes, FxPro offers demo accounts that allow traders to practice their trading skills and test their strategies without risking real money.
Can Tanzanian traders open an account with FxPro?
Yes, Tanzanian traders can open an account with FxPro. However, they should check with FxPro’s customer support to confirm if there are any restrictions or requirements for Tanzanian traders.
Does FxPro have Nasdaq 100?
FxPro offers Nasdaq 100 as part of its CFDs on indices.
What trading instruments are available on FxPro?
FxPro offers various trading instruments, including forex pairs, stocks, indices, futures, metals, and energies.
Is FxPro Safe or a Scam?
FxPro is a safe broker with top regulation from trusted entities such as FSCA, CySEC, and FCA.
Does FxPro offer customer support in Swahili?
FxPro’s customer support is available in several languages, but Swahili may not be one of them. Therefore, Tanzanian traders should check with FxPro’s customer support for the available languages for customer support.
Is FxPro regulated?
Yes, FxPro is well-regulated in the United Kingdom (FCA), South Africa (FSCA), Cyprus (CySEC), The Bahamas (SCB), and Mauritius (FSC).
How long does it take to withdraw from FxPro?
It can take between a day and several days, depending on the payment method and when you submitted a withdrawal request to FxPro.
