FxPro

FxPro was founded in Cyprus in 2006 by Charalambos Psimolophitis and has grown into one of the longer-established CySEC-regulated brokers serving the European retail market. The group is headquartered in Limassol and operates through a multi-entity structure: FxPro Financial Services Ltd (CySEC-regulated for EU servicing), FxPro UK Limited (FCA-regulated in London), FxPro Global Markets Ltd (SCB-regulated in the Bahamas for the offshore book), and FxPro Financial Services Ltd's South African branch (FSCA-regulated for the African market). The group is privately held with no listed parent, and the operational hub remains in Limassol with secondary offices in London, Nassau, Dubai, and Hong Kong. The broker reports executing more than 6,500 trades per second across its retail and institutional flow and processes a monthly volume in the tens of billions of USD notional — a meaningful but not headline-grabbing scale compared to Exness's USD 4 trillion monthly figure. FxPro has deliberately positioned itself as a mid-to-upper tier broker with a stronger platform offering than the pure-play ECN names like Tickmill and a more disciplined client onboarding process than the high-volume offshore brands. The product catalogue covers approximately 70 forex pairs, around 30 cash and futures CFDs on global indices, spot metals (gold, silver, platinum, palladium), CFDs on WTI and Brent crude alongside natural gas, around 2,000 share CFDs across US, European, and Asian listings, a small set of ETF CFDs added in 2021, and cryptocurrency CFDs where the regulatory framework permits (not currently offered to EU retail clients due to FCA and ESMA leverage and marketing restrictions). The product range is broader than Tickmill's narrow forex-and-major-CFDs focus but narrower than Capital.com's 3,000+ instrument catalogue or IG's 17,000+. Recent developments include the launch of the FxPro Edge proprietary mobile app in 2023, the expansion of the FxPro Academy with structured video courses, the addition of cTrader Copy for in-platform social trading, and the rollout of dedicated execution monitoring with publication of monthly execution statistics covering slippage and fill rates.

The regulatory framework is one of the more comprehensive in the segment. FxPro Financial Services Ltd, the EU entity, operates under CySEC licence 078/07 — a relatively early CySEC number reflecting the broker's 2006 founding — with the EU MiFID II passport, ICF compensation coverage up to EUR 20,000 per eligible client, mandatory negative balance protection, segregated client funds at tier-1 European banks, and best-execution reporting under RTS 27 and RTS 28. The CySEC entity holds the highest CIF category (Category 1) which carries the EUR 730,000 minimum capital requirement, and FxPro's actual capital adequacy sits substantially above this floor based on the audited annual accounts. The UK entity, FxPro UK Limited, holds FCA licence 509956 and provides UK clients with FSCS compensation coverage up to GBP 85,000 alongside FCA conduct supervision. The South African business operates under FSCA licence 45052 with separate capital-adequacy and conduct obligations under South African law. The offshore arm, FxPro Global Markets Ltd, holds Securities Commission of the Bahamas licence SIA-F184, which is the route through which the broker offers leverage above 30:1 to non-EU clients and supports cryptocurrency CFD trading for jurisdictions where this is permitted. The CySEC and FCA permissions are both tier-1 regulatory frameworks with mature client-protection regimes; the FSCA permission is solid mid-tier; the SCB permission is offshore and does not carry equivalent client-protection weight, though it has been used appropriately for the non-EU book rather than for EU client onboarding. FxPro has no material regulatory sanctions on record from CySEC, the FCA, or any other primary regulator over the past decade. Audited annual reports for each subsidiary are published on the broker's site, and the broker is one of the more transparent in the segment about execution statistics and capital position.

Pricing follows a familiar two-tier model that is competitive without being market-leading. The Raw+ account offers interbank spreads from 0.0 pips on EUR/USD with a commission of USD 3.50 per side (USD 7.00 round-turn per standard lot) — in line with Pepperstone's Razor account, IC Markets' Raw account, and Vantage's Raw ECN, and the broader regulated EU ECN segment average. During liquid London-New York overlap sessions, Raw+ EUR/USD spreads typically sit between 0.0 and 0.1 pips, meaning all-in costs come to approximately USD 7 to USD 8 per standard lot round-turn. Tickmill at USD 4 round-turn and FXTM at USD 4 round-turn both undercut FxPro on the same execution profile, and even at the top volume bracket where Pepperstone and IC Markets offer commission rebates, FxPro's Raw+ pricing sits at the upper end of the regulated EU pack rather than the leading edge. The Elite account is a higher-volume tier with commissions sliding to USD 2.25 per side for clients trading above 100 standard lots per month, at which point all-in costs on EUR/USD can fall to approximately USD 4.50 round-turn — competitive but still not matching Tickmill at the same volume. The Standard account offers spread-only pricing from 1.2 pips on EUR/USD with no commission, implying an all-in cost around USD 12 per standard lot round-turn — too wide for any consistent volume but acceptable for clients who specifically prefer wrapped pricing. The MT5 account uses a separate pricing book optimised for MT5 execution, with spreads starting from 0.6 pips on EUR/USD and no commission — a hybrid model that sits between Standard and Raw+. On GBP/USD, Raw+ spreads typically average 0.3 to 0.5 pips during liquid sessions, bringing all-in costs to roughly USD 10 to USD 12 per standard lot round-turn. On USD/JPY, Raw+ spreads run 0.2 to 0.4 pips with all-in costs around USD 9 to USD 11 round-turn. A trader running 20 standard lots per month on the Raw+ account on EUR/USD would pay approximately USD 140 in commissions plus a few dollars in residual spread, totalling around USD 145 to USD 155 per month — versus USD 85 to USD 95 at Tickmill at the same volume, or USD 145 to USD 155 at Pepperstone and IC Markets. The USD 100 minimum deposit is higher than FXTM's USD 10 or Capital.com's EUR 20 but lower than IG or Saxo Bank thresholds. Inactivity fee of USD 10 per month applies after 6 months of dormancy — more aggressive than Tickmill's no-fee EU stance and Pepperstone's 12-month grace period.

The platform offering is the strongest part of the FxPro proposition and a clear differentiator against pricing-focused peers like Tickmill or FXTM. The broker supports four distinct platforms — MetaTrader 4, MetaTrader 5, cTrader, and the proprietary FxPro Platform — under a single client account. MetaTrader 4 remains the workhorse for the bulk of Expert Advisor traders, with the standard MQL4 environment, full hedging and scalping support, and the broader MT4 indicator ecosystem fully supported. MetaTrader 5 adds the 21-timeframe upgrade, multi-currency strategy testing, depth of market display for forex and indices, the built-in economic calendar, and the MQL5 algorithmic environment. cTrader is fully integrated, providing the Level II depth-of-book visualisation, advanced order types including iceberg and time-weighted average price, the cTrader Automate environment for C-sharp algorithmic development, and cTrader Copy for in-platform social trading — a genuinely useful feature for clients who want algorithmic copy execution without bolting on a third-party signals service. The FxPro Platform (formerly FxPro Edge) is the proprietary web-and-mobile offering, designed for clean execution and account management without the depth of MetaTrader, and serves as the default entry point for clients onboarding through the mobile channel. Across all four platforms, supported order types include market, limit, stop, stop-limit, trailing stop, and one-cancels-other, with cTrader adding the advanced order types noted above. Expert Advisor execution is supported on MT4 and MT5 without restriction, with all major scalping and hedging strategies permitted. FxPro offers free VPS hosting through a partnership with NYC Servers for clients depositing at least USD 5,000 and executing at least 5 standard lots per month, with Equinix-hosted infrastructure ensuring minimal latency to the broker's execution servers. FIX API access is available for qualifying institutional and professional clients but not for general retail. The platform breadth genuinely matches Pepperstone's four-platform stance and exceeds the MT4/MT5-only offering at Tickmill, FXTM, and most spread-focused peers — and the inclusion of cTrader specifically is a meaningful draw for professional traders who consider cTrader the better execution environment but find it absent at the cheaper-pricing alternatives.

For EU clients, FxPro Financial Services Ltd's CySEC regulation places the broker squarely inside the ESMA framework. Retail-client leverage is capped at 30:1 on major forex pairs, 20:1 on non-major pairs and major indices, 10:1 on commodities other than gold, 5:1 on individual share CFDs, and 2:1 on cryptocurrency CFDs (not currently offered to EU retail clients in any case). Negative balance protection is mandatory and guaranteed at the account level, meaning EU retail clients cannot lose more than their deposited capital. Client funds are held in segregated accounts at tier-1 European banks (including Barclays for the EU entity), kept separate from FxPro's operational capital and ring-fenced against corporate insolvency. ICF compensation coverage provides up to EUR 20,000 per eligible client if the broker fails. Best-execution reporting under MiFID II is published annually with execution venue and quality statistics, and FxPro is one of the more proactive disclosers in this space — monthly execution data covering slippage and fill rates is available on the broker's site, which is unusual transparency relative to most CySEC peers. Personal data is handled in compliance with GDPR. Clients categorised as professional under the ESMA framework can opt up to leverage of 500:1 and waive certain retail protections, though FxPro's professional-client onboarding process is one of the more thorough in the segment with active verification of the three professional criteria rather than self-attestation.

Account types are structured as a four-tier ladder. The Standard account requires a USD 100 minimum deposit, offers spreads from 1.2 pips on EUR/USD with no commission, and is the entry tier. The Raw+ account requires the same USD 100 minimum, offers spreads from 0.0 pips with USD 3.50 per side commission, and is the recommendation for any trader running consistent volume on cTrader or MT4. The Elite account is a higher-volume variant of Raw+ with commission rebates for clients trading above 100 standard lots per month. The MT5 account is a separate book with spread-only pricing from 0.6 pips on EUR/USD, designed for MT5-specific clients who want a wrapped-cost model — an unusual structure that few other brokers replicate. Typical Raw+ spreads during the European trading session sit at 0.0 to 0.2 pips on EUR/USD, 0.3 to 0.5 pips on GBP/USD, and 0.2 to 0.4 pips on USD/JPY. The USD 100 minimum is a meaningful step up from FXTM's USD 10 and is the principal entry-level friction relative to more accessible CySEC peers.

Withdrawals are free on the EU entity across all supported methods including bank transfer, credit and debit cards (Visa/Mastercard), Skrill, Neteller, and PayPal — the latter being unusual among CySEC ECN brokers and a useful option for clients who already use PayPal for other transactions. Card withdrawals process within 24 hours on business days; Skrill, Neteller, and PayPal withdrawals are typically processed same-day. Bank-wire withdrawals settle within 1 to 3 business days depending on the correspondent banking chain. There is no minimum withdrawal threshold beyond the underlying payment processor's floor. Crypto withdrawal rails are not offered on the EU entity; the offshore SCB entity supports a wider funding menu but EU clients route exclusively through CySEC. The 6-month inactivity fee window is more aggressive than Tickmill's no-fee EU stance and warrants attention for clients who may take extended breaks from trading.

FxPro is a strong fit for active traders who value the four-platform stance and specifically want cTrader alongside MetaTrader, and who are willing to accept Raw+ pricing at the regulated EU segment average rather than the leading edge. The cTrader integration is the broker's clearest structural advantage — Tickmill, FXTM, and most of the pricing-focused peers do not offer cTrader, and traders attached to the platform's Level II pricing, C-sharp algorithmic environment, and cTrader Copy social-trading framework will find FxPro one of the few CySEC-regulated routes to access it. The 6,500-trades-per-second claim is backed by the published monthly execution statistics, and FxPro's no-dealing-desk model with deep liquidity from multiple tier-1 banks delivers genuinely fast fills. Where FxPro is less compelling is on pure pricing for volume traders — at USD 7 round-turn on Raw+ the broker is firmly mid-pack rather than market-leading, and clients prioritising execution cost above platform variety will save meaningfully at Tickmill (USD 4 round-turn) or FXTM (USD 4 round-turn) on equivalent execution profiles. The USD 100 minimum deposit is higher than the entry-level CySEC alternatives, and the 6-month inactivity fee is more aggressive than peers. The educational offering, while improved with the FxPro Academy relaunch, remains less structured than FXTM's Trading Academy or IG Academy and more comparable to the competent-but-thin curricula at Tickmill or Pepperstone. Compared to Pepperstone, FxPro matches on platform breadth and EU regulation but loses on BaFin oversight (Pepperstone holds a German banking-grade permission) and on entry-level minimum deposit; pricing is broadly equivalent. Against IC Markets, FxPro matches on platform breadth and pricing but loses on the offshore-only execution model that IC Markets EU clients route through. Against Tickmill, FxPro wins decisively on platform variety (four platforms vs three) but loses on pricing (USD 7 vs USD 4 round-turn). The 8.5 overall score reflects a well-rounded mid-to-upper tier broker with elite platform breadth and a long-established CySEC presence, held back from the very top tier by mid-pack Raw+ pricing and a higher entry-level minimum than the accessible-CySEC pack.