Introduction
Here at NewsBTC, we recently teamed up with leading Forex brokerage FxPro. For those familiar with the foreign exchange industry, FxPro will be a recognisable name. For those not yet acquainted with the company, here is a quick review outlining its services.
Overview
FxPro was set up in 2006 as part of the FxPro Group Ltd. this makes it one of the longest running rugby is an industry – a sign that the company can be trusted. FxPro UK Limited (the company’s UK arm) is authorised and regulated by the Financial Conduct Authority (registration no. 509956), while FxPro Financial Services Limited (the company’s Cyprus based arm) is authorised and regulated by the Cyprus Securities and Exchange Commission. Over the past few years, the company has won more than 20 prestigious awards in the forex space, including Best Forex Customer Service Brand, Europe from Global Brands Magazine, Best FX Execution, Global from CFI and Excellence in FX Services 2013 from IAIR.
Agency Model
One thing that sets FxPro apart from its competitors is the so called “Agency model”. This model allows for zero conflict of interest between the company and its clients – something that (once again) is rarely seen in the Forex space. What is the model all about? In short, clients ordered are matched and passed through premium liquidity providers, including Morgan Stanley, Goldman Sachs, JPMorgan, and then priced competitively before being filled. While some brokers effectively bet against the traders they host, FxPro does not – meaning they focus solely on making their clients better traders.
Accounts
FxPro offers a range of accounts that suit the requirements of any type of trader, whatever they are looking for. These include a floating spread account for MT4, a fixed spread account for MT4, a cTrader account and a SuperTrader account. With a cTrader account, orders are filled at the weighted average price to ensure the best bid and ask prices available from the liquidity providers. A SuperTrader account is designed for newer traders, and it enables clients to trade according to predetermined conditions dictated by the company’s own algorithms.
Tools and Education
As mentioned, FxPro’s agency model allows for zero conflict of interest between company and client. This means that it is in the company’s interests to educate its traders to become the best they can be. With this in mind, FxPro offers a range of webinars, seminars and expos to educate its clients. Most are free, and they occur regularly. In addition, the company offers its clients AutoChartist and Trading Central – two premium technical analysis aids – and a range of tools including an economic calendar, calculators and mobile tools.
Conclusion
FxPro is already one of the industry’s leading forex brokers, and we don’t see this changing anytime soon. With the range of account types, client support and conditions on offer, we are happy to recommend FxPro to our users.
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