FXPro Commission or Brokerage Charges – Review, Plans, FAQs & more
Knw everything about FXPro Commission or Brokerage Charges here.
FXPro is arguably one of the most popular FX brokers in the world right now. It is a UK-based company that has over 200 active employees.
Regulated by CySEC, FCA, FSCA, and SCB, FXPro debuted in the year 2006. Today, we will explore and dissect the brokerages the company is charging.
We will discuss the overall structure of the fee structure and then highlight the spreads and commission fees separately.
We will also talk about the investment assets and the types of accounts you can open with FXPro. So, let us begin.
FXPro Commission or Brokerage Charges
As per most of the industry experts, FXPro charges a bit high when compared with its close competitors.
Even though there are spreads and commissions in place depending upon the type of account you choose, they follow a unique strategy which they call “No Dealing Desk Execution.”
We will learn more about account types and how the No Dealing Desk Execution process is different later. As of now, let us know a bit about the spreads and commissions.
The company charges both floating and fixed spreads depending upon the account type, and as for the commission, it is variable too.
The spreads can be as low as 1.58 pips, while the commission is completely dynamic depending on the assets.
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Types of FXPro Commission Plans
|Types of Commission Plans|
|Account Type||Ctrader ECN||Fx Pro MT4||Fx Pro MT5||Standard MT|
|Initial Deposit||$100||$100||its $100||$100|
FXOpen doesn’t offer conventional account types that you can define as commission plans. Instead, they are following a unique model which they call “No Dealing Desk Execution.”
So, in a sense, there are no STP or ECN accounts that one can traditionally get from an FX broking company. There are certain benefits that you can get for sure.
You can get deep liquidity, and you can process an order in less than 14 milliseconds.
Meanwhile, the company does offer account types.
Those are based on the trading platforms you wish to use. So, here is the list of trading platforms that you can choose from, along with their features & benefits:
cTrader is an in-house trading terminal that is available for ECN activities.
You can start trading with just $100 with zero commission. The spread for this account is floating, while the leverage is 1:200.
MetaTrader version 4 (MT4) is an incredible trading platform that offers its custom-built services to hundreds of companies. Of course, FXPro is one such company.
You need just $100 to begin trading, and the company is not charging any commission.
The spread for this account is fixed, and the leverage is 1:200.
MetaTrader 5 is the latest version of the existing solution.
Trading can begin with the same static amount of $100, and there is no commission fee involved.
The leverage is the same – 1:200, while the spreads are floating.
It is a trading platform, which as per the industry norms, is considered to be a basic account. $100 is the initial investment that you need to make to begin trading with zero commission fees.
The spreads are floating, and the leverage is usual – 1:200.
FXPro Account Opening Process
The following points are the steps to open up an FXPro account:
- Visit the official website. Over there, you will find the option “Start Trading Now.” Click on that.
- Then the registration page will open in front of you. Please notice that the country is selected automatically based on the IP address. Then, fill out the form with your email address and a suitable password. Hit ‘Register” once done.
- eKYC is mandatory. For that, you need to provide digital copies of some documents. A few necessary ones are ID proof, income proof, and address proof. As this verification is electronic, it completes in minutes.
- Once the account is ready, choose your preferred trading platform. Download and log in using the same credential when you were opening the account.
- Then, upload a minimum of $100 and begin trading.
FXPro Payment or Withdrawal Methods
|Deposit Options||Credit Card, Neteller, PayPal, Skrill, Union Pay, Wire Transfer|
|Withdrawal Options||Credit Card, Neteller, PayPal, Skrill, Union Pay, Wire Transfer|
Let us now discuss the mode of payments you can use to deposit the funds that you will need to trade. Please note that there are quite a lot of options that you can choose from.
Some of them are 3rd-party applications that may or may not require a fee to process. So, here they are:
- Credit Card.
- Union Pay.
- Wire Transfer.
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FXPro Investment Assets
|Supported Cryptocoins||BCH, BTC, ETH, LTC, XRP|
|Total Tradable Assets||256|
|Number Of Currency Pairs||70|
|Number Of Cryptocurrencies||0|
|Number Of Stocks||136|
|Number Of Indices||20|
|Number Of Commodities||0|
|Number Of Futures||20|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
Let us now discuss the investment assets that FXPro delivers. As of now, there are 7 different classes of assets that the company is offering.
Overall, there are 256 tradable assets that you can deal with. As we have mentioned in the intro, the company primarily deals with forex trading.
As of now, there are 70 popular currency pairs in the offering. Moving on, FXPro deals with futures. Right now, you can choose from over 20 assets.
Indices are next in the line, which you can trade from the most popular global markets. Over 20 famous indices are available to trade from.
There are hundreds of company stocks that you can choose to trade – 136 assets are there to select from. FXPro also deals with precious metals like gold and silver.
The company also avails of two other classes of assets – energies and cryptocurrencies. BCH, BTC, ETH, LTC, and XRP are some notable crypto coins that you can choose to trade.
FXPro Commission – Conclusion
It is safe to say the FXPro is an unconventional company, especially when it comes to how they charge the brokerages.
The types of accounts are unique to most FX brokers.
There are trading platforms based on what the company’s commission plans get decided. However, despite being different, FXPro is operating at a global level with tremendous success.
The “No Dealing Desk Execution” plan is quite a hit among the traders.
They like the transparency that the company is offering when other companies tend to hide it.
So, overall the company is trustworthy, even though it is a bit pricey when it comes to the brokerage fees.
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FXPro Charges or Fees – FAQs
Here is the list of FAQs related to the FXPro Brokerage Charges or Fees:
Does FXPro charge commission?
Unlike most FX brokers, FXPro doesn’t offer conventional commission plans.
They are providing what they call the “No Dealing Desk Execution.”
With this, you can get deep liquidity and faster order processing. However, the company has four trading platforms.
Based on what you choose, you must pay the brokerage fees wherever applicable.
But then again, there are no added commission fees for trading while you use either one of the trading platforms.
How much does FXPro charge brokerage?
FXPro has a different brokerage scheme compared to most trading companies.
They charge spreads and commissions based on the trading platforms the trader chooses.
The company charges a floating spreads fee if you use Ctrader ECN, FxPro MT5, and Standard MT.
The spreads are fixed only when you use Fx Pro MT4. Now, whether you Ctrader ECN, FxPro MT5, Fx Pro MT4, or Standard MT, there is no added commission fee that you need to pay.
What is the Minimum Deposit required in FXPro?
There are four trading platforms the company is offering – Ctrader ECN, FxPro MT5, Fx Pro MT4, and Standard MT.
The minimum amount that you need to invest to begin trading is $100.
It is applicable for either one of the platforms you use.
How much leverage does FXPro provide?
FXOpen is offering 4 trading platforms, which are technically the account types too.
Those are Ctrader ECN, FxPro MT5, Fx Pro MT4, and Standard MT. Leverage for all the account types or, in this case, the trading platforms are the same – 1:200.
It applies to whichever trading platform you choose while trading.
How much is Spread at FXPro?
FXPro is availing four trading platforms – Ctrader ECN, FxPro MT5, Fx Pro MT4, and Standard MT. Unlike most FX brokers, there are no separate account types in the offering.
If you use Ctrader ECN, the spreads are floating. It means the rate of spreads fluctuates with assets over time.
The same floating spreads plan is applicable if you use Ctrader ECN and Standard MT. As for the FxPro MT4, the spreads fee is fixed. So, for this trading platform, the fee will not change over time.
What type of Commission Plans are available in FXPro?
Most FX brokers offer account types. FXPro is providing trading platforms as a replacement for the type of accounts.
Now, there are four trading platforms the company is allocating – Ctrader ECN, FxPro MT5, Fx Pro MT4, and Standard MT.
What is interesting here is none of the trading platforms that you use will cost additional commission fees.
The company is offering zero commission fees to whichever trading platform you choose.
Does FXPro provide Cryptocurrency for Investment?
Cryptocurrency is the hottest form of online investment.
Of course, FXPro is offering this class of assets. In fact, you can trade from some of the most popular crypto coins such as BCH, BTC, ETH, LTC, and XRP. So, you can start crypto trading now.
Is FXPro a legit Forex Broker?
FXPro has been in the business for over 15 years now.
They operate over 200 employees worldwide, and the company is regulated by 4 recognized organizations – CySEC, FCA, FSCA, SCB.
On top of that, all the trading platforms are secured with 2-step verification. So, yes, you can say that the company is legit!
Can I invest in FXPro for $5?
Sadly no. As of now, there are four different trading platforms in the offering, and to start trading, you need to invest a minimum of $100.
Are there any hidden charges available with FXPro?
In a general sense, there are no hidden charges that the company is charging.
Then again, it makes perfect sense to consult with the support team for any future conflicts.
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