FxPro is one of the staple names in the Forex market, having been in the pedestal since 2006, and with an established presence in over 170 countries worldwide.
Despite its extensive years of experience and popularity, many are wondering: is FxPro a good broker? Traders Union experts grabbed the chance to assess one of the most talked about platforms in their updated FxPro review.
Using the trusted TU Methodology, analysts have placed FxPro in the fourth spot during the TU Ranking of the Best Forex Brokers of 2023, with an overall score of 9.57 out of 10.0. This accolade has put it in the ranks of the best in the industry namely AAFX, AMarkets, Pocket Option, OctaFX, Libertex, and Forex4you.
FxPro has been at the forefront of the industry, with a solid regulatory oversight in key finance locations such as Cyprus, the Bahamas, the United Kingdom, and South Africa. Impressively, FxPro achieved a Regulation and Safety score of 8.95 out of 10.
It holds licenses from tier-1 regulatory bodies, including the United Kingdom’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
One of FxPro’s standout features is its commitment to cutting-edge technology and trading tools. It offers a diverse array of trading options, including MT4, MT5, Mobile Trading, cTrader, and FxPro Edge which create an optimal environment for traders seeking profitability and convenience.
FxPro provides access to a wide range of asset classes, including Forex, metals, cryptocurrencies, CFDs, indices, and stocks, and is equipped with an automated transaction monitoring and risk management system designed to safeguard traders from negative balances.
In terms of fund protection, FxPro participates in an investor compensation fund, supported by a substantial capital reserve of 100 million EUR, ensuring the safety of client funds.
Traders Union’s review emphasizes that FxPro is an excellent choice for all types of investors, especially those who are just starting out with Forex trading. It offers access to tested advisors, facilitating the learning process for individuals new to the fast-paced world of Forex trading.
For those looking for undervalued players in the Forex market, TU also has a comprehensive Black Bull Markets review that is worth checking out. Black Bulls Markets has been around since 2014, known for its zero minimum deposit requirement.
Traders Union’s verdict for the brokerage company shows an overall score of 4.47 out of 10.0, placing it on the 115th spot out of the 350 companies evaluated during the period.
TU noted that while Black Bulls Markets offers a considerable number of assets in its roster, the number of currency pairs available for trading is limited to only 70 pairs. Moreover, it offers a rather complicated referral program which does not show advantages for those who are interested in participating.
On the upside, Black Bulls Markets provides access to a free demo account which is one of Traders Union’s primary requirements when considering a brokerage firm.
Experts advise traders to do their due diligence before opening an account on the platform.