The desktop browser experience is in line with the industry average and allows traders to easily execute trades with clear and transparent pricing. Charting is also available with various indicators and studies. Traders can also create customizable watchlists and leave conditional orders, but hedging is not possible on MT 5 and will simply cancel offsetting orders. FxPro allows traders to see other clients' positioning, which gives a sense of market positioning. One big advantage is that FxPro provides traders with a real-time audio squawk box that alerts them to market moving events.
There is also a running news feed with the latest market headlines and a link to Trading Central WebTV.
FxPro has a good mobile offering with the app available in both iOS and Android. Security features are standard, with the option to replace the login with an Apple's Touch ID. Watchlists are easily customizable and it is also possible to have multiple lists. Mobile price alerts are available.
Traders simply need to select the instrument, decide which price to alert bid or ask and then choose to alert when the price is higher or lower than a selected level. Unlike other brokers, FxPro offers streaming mobile news with major news headlines that can impact markets. Conditional orders are easy and straightforward to set up with various types on offer. Traders can also specify when the order will expire, providing another degree of control.
Finally, FxPro has an acceptable mobile charting offering. Traders can choose multiple time frames to monitor and can easily add multiple trading indicators, such as moving averages. After setting up a chart, the mobile app allows traders to easily trade from the chart, with easy trade sizing and buy and sell directional orders. FxPro's research and insights tools are above average for the industry. Like many brokers, FxPro offers a macroeconomic calendar to track important releases that can impact markets. They also offer some basic daily fundamental research and work with Trading Central to offer technical analysis.
Two areas where FxPro has an advantage over other brokers are its multilingual webinars available on the company's YouTube channel and the quality of its real-time news offering. These tools seem to be available even for traders who do not have an account with FxPro.
Educational products are one area where FxPro is below the industry average. There seems to be an absence of information about basic concepts of forex and CFD trading. Most other sites have a specifically designated education center, but FxPro lacks these tools. Instead, they have a YouTube channel with some educational videos that are disorganized and difficult to find.
Moreover, some videos are quite old and in need of a refresh. FxPro does provide a glossary of CFD terms, which is not something every broker provides. FxPro offers traders algorithmic trading through cTrader, which is an advanced algo and technical indicator coding application that allows traders to create and build algorithmic trading strategies and custom indicators. These applications also allow for backtesting of trading strategies.
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FxPro scores above average in terms of available investment products. In total, this broker claims to have more than instruments available to trade. This should provide clients with ample opportunity to trade various markets that are interesting to them. They also offer trading in both CFD and spread betting.
Spread betting can have tax advantages for U. Like many brokers, FxPro has no commissions on most trades. One thing they advertise is the lack of an expensive dealing desk, which allows them to pass on cost savings to clients. FxPro says that due to the high volumes of their clients' trades, they can internally match a great deal of their order flow.
This allows them to minimize risk and costs without interfering with orders in any way.
Experience trading the way it should be
Other fees are more onerous, however, and FxPro does not seem to offer any discounts for higher volume traders. Traders also may need to pay up to 2. Live chat is offered for both clients and prospective clients. Unlike other brokers, they have a physical office in London with a reception desk that is open from a.
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