Overall FxPro spreads and fees are competitive and good value when you take into account the range of trading tools and resources available. Having said that, FxPro could improve their offering by introducing some welcome promotions and deposit bonuses. Once you have your direct account login details you can choose from a number of trading platforms.
Head to the official website for a link to instantly download both platforms. Both systems receive glowing customer reviews, promising reliability, multiple order types and negative balance protection. Furthermore, they support automated trading through Expert Advisors EAs. Their diversity also means they will work for trading on the news, scalping systems and with other techniques. In addition, you can now use MT4 WebTrader to log in to all accounts whatever your location.
You can also download Autochartist as a plugin to benefit from their advanced trading tools. Although whether MetaTrader systems are good or bad will depend on who you ask, the majority of traders agree they are comprehensive, thorough and more than capable of meeting the needs of most users. Feedback from the cTrader users is also fairly positive. The free cTrader system platform download was designed for CFD traders. As a result, you can place orders while retaining a clear view of market depth.
The platform will work for Mac users and on Windows desktops. You also benefit from rapid execution speeds. It provides investors with a new way to trade the markets. It is a highly customisable web-based platform, which enables traders to place their orders without the need to download and install any additional software. This is a separate platform to FXPro Edge.
They offer iOS and Android trading apps for mobiles and tablets. You have access to three mobile apps:. The apps are reliable and give you access to nearly all the same features and functionality of the desktop-based platforms. In fact, you can:. Overall, reviews of the mobile apps are good. Users get to benefit from the same ultra-low latency trading infrastructure of the desktop platforms.
Furthermore, the iPhone, iPad and Android apps can work to supplement your desktop platform or for trading directly from. Once you finish registration, you will have to fund your account. Fortunately, there are a number of deposit methods available, including:. Note credit and debit cards will incur a deposit fee, as will PayPal. Your bank account may also charge an additional fee. Contact your bank for details. When it comes to withdrawing your revenue, there is no charge for any of the payment methods.
However, a fee may be charged if the capital has not been used to actually trade. Withdrawal times are kept to just one business day. Simply log into FxPro Direct to enter a withdrawal request. Contact customer support via their live chat or telephone service if you encounter any withdrawal problems.
You get a choice of four live trading accounts with FxPro, below is an account break down and comparison:. For fixed spread accounts, you may want to opt for the MT4 option. Having said that, all promise straightforward account ownership and management. Rankings will depend on individual requirements and personal preferences. Reviews nonetheless are positive about the number of account options available.
In fact, many competitors offer just one live account option. You can also open a FxPro demo account. The demo server makes for a great central trading hub to get familiar with markets and develop strategies. Then when your confidence has grown you can upgrade to a live account. There are even occasional demo contests where you can put your practice to the test against other traders. Broker reviews of FxPro are quick to highlight there are a number of useful educational resources available.
Most notably there is the FxPro Trading Academy. This has been built to help educate users on forex trading. It comes with a vast video library, seminars and ebooks. You will also find a trading glossary, plus guidance on trading robots and global markets. The Help Centre is also a valuable resource.
The economic calendar allows you to plan your day ahead down to the minute. In addition, you get access to:. The ECN zero account also grants access to the MT5 software but with a limited number of tradable markets 33 forex pairs and 2 spot metals.
Or FxPro matches the minimum deposit requirements of other leading online brokers such as AvaTrade. Yes, both brokers offer a demo account, which mimics real market conditions and allows clients to develop their skills and test strategies in a risk-free trading environment. We should note that the FxPro demo accounts will be closed, in case there has been no client activity for more than days.
As for swap-free live accounts, FxPro does offer an Islamic account option for clients of the Muslim faith. Overall, both forex brokers offer impressive-looking selections of trading accounts. Spreads offered by both brokers on all financial instruments are floating. Starting with FXTM, the spreads across the 3 different standard account types are as follow:.
There are no trading commissions involved — only an all-inclusive bid-ask spread. Spreads on other Forex pairs and asset classes are floating. FxPro streams its bid-ask quotes from a global network of 12 liquidity providers LPs , which enables it to offer tight spreads. Even so, there are stringent requirements minimum account balance of USD 25, to benefit from lower spreads.
Average order execution speed of less than Still, there are considerable leverage restrictions imposed on retail investor accounts, offered in some regulation jurisdictions. As the volume of a particular trading instrument increases, the maximum leverage offered will be lower. A dynamic leverage example concerning Forex trading is presented in the table below. Overall, both brokers comply with the standard leverage limits. FxPro only comes ahead because it implements dynamic leverage ratios which aim to reduce risk.
Among the key features and benefits offered are:. FxPro also offers its own proprietary web trading platform, which grants access to six different asset classes and has a fully customizable interface. By accessing their FxPro Edge accounts directly from any browser, clients can take advantage of over 50 technical indicators and charting tools, 6 chart types and time frames as well as market execution with no dealing desk intervention. The latter is proprietary software that allows for seamless trade order management while granting access to state-of-the-art charting tools and some of the most popular technical indicators.
The direct comparison between the two brokers shows that FxPro tops FXTM in terms of the best online trading platforms offered. Though, both brokers also offer CFDs on several other asset classes — a total of 7 asset classes at FxPro versus 5 asset classes at Forextime.
Cryptocurrencies and futures trading is only available at FxPro. Risk warning: Trading CFDs on retail investor accounts carries a high risk of rapid capital losses as high leverage ratios are used. Therefore, retail clients should be fully aware of the way these complex instruments work before they start trading on a live account.
At FxPro, trading forex can be done on over 70 major, minor and exotic currency pairs versus 62 currency pairs found at FXTM. Clearly, FxPro comes ahead as it offers the possibility to trade a more diverse list of FX pairs. The range of financial instruments available to trade at both brokerages can be presented as follows:. Overall, FxPro offers slightly more financial instruments and subsequently more trading opportunities are presented.
At FxPro there are also more asset classes and traders can explore trading opportunities in the cryptocurrency market and a good selection of futures. Our team of experts at Compare Forex Brokers also tested how good the client support service is. The live chat option by both FxPro and FXTM allows clients to get instant help with a particular matter from account management to trading platform issues.
Clients can send their inquiries to Support. An additional selection of Forex trading strategies and an easy-to-understand explanation of popular Forex technical indicators as well as of different Forex trading styles can be found at FXTM.
Live forex webinars are also conducted on a regular basis by FXTM global market experts. The webinars will guide you through key risk management techniques, daily market updates and sophisticated trading strategies. When it comes to market news and analytics, FxPro maintains a comprehensive news blog with multiple publications on a daily basis. Meanwhile, FXTM fell far short of expectations missing daily research publications.
Overall, both FX brokers offer a diversity of Forex educational materials and good customer support. While FxPro allows account funding in 8 different base account currencies, FXTM offers slightly fewer options — only 7 different currencies are supported. The broker-to-broker method allows for hassle-free and quick transfer of your existing forex trading account to FxPro.
There will be no deposit fees charged with any payment method at both brokers. However, FXTM will charge a withdrawal fee with some of the funding methods, while FxPro will not charge any withdrawal fees given certain conditions are met.
Note that fund withdrawals via Skrill or Neteller are fee-free. However, all other funding methods will be associated with a withdrawal fee. FxPro will not charge any fees on withdrawals. However, when using methods such as Skrill or Neteller, there may be a withdrawal fee if a withdrawal request is submitted by clients without having traded. The fees will be:. Both brokers have low minimum deposit requirements to help you start trading without investing your whole net worth.
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FXTM is a global leader in online financial trading and investing, offering FX, indices, commodities, and more. ForexTime allows traders to trade up to financial. The direct comparison between the two brokers shows that FxPro tops FXTM in terms of the best online trading platforms offered.