Top 8 Locally Based Brokers
FxPro Review
Overall, FxPro is considered low-risk, with an overall Trust Score of 90 out of 100. FxPro is licensed by one Tier-1 Regulator (high trust), two Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). FxPro offers four retail trading accounts: Standard Account, Pro Account, Raw+ Account, and ECN Account.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Total Pairs
300+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FxPro Review – 27 key points quick overview:
- Top 3 FxPro User Reviews
- FxPro Geographic Reach and Limitations
- FxPro at a Glance
- FxPro Regulation and Safety of Funds
- FxPro Awards and Recognition
- FxPro Account Types and Features
- How to open an Account with FxPro
- How to close My Account with FxPro
- FxPro MAM Features
- FxPro Trading Platforms
- FxPro Investment Programs
- Broker Comparison for a Range of Markets
- FxPro Trading and Non-Trading Fees
- FxPro Deposits and Withdrawals
- How to Deposit Funds with FxPro
- FxPro Fund Withdrawal Process
- FxPro Education and Research
- FxPro Bonuses and Promotions
- How to open an Affiliate Account with FxPro
- FxPro Corporate Social Responsibility
- FxPro VPS Review
- FxPro Trading Signals
- FxPro Cashback Rebates Features and Conditions
- Our Final Verdict on FxPro
- FxPro Alternatives
- Frequently Asked Questions
- Conclusion
Top 3 FxPro User Reviews
- Ishmail Archer (February 2023) “I have been trading with FxPro for a few months now and continually discovering new services and alternatives the broker offers. The platform offers its clients a wide range of options, which I find very appealing.”
- Mina Stark (February 2023) “I appreciate that FxPro has updated its account conditions, and RAW+ looks like a suitable option regarding the price/conditions ratio. Additionally, FxPro offers the possibility to trade via the algorithm, a great opportunity for those who have always wanted to try it.”
- Harley Pearce (February 2023) “I must confess that I joined FxPro to open a joint account. I was pleased to learn that this broker permits joint accounts, which is not the case with all brokers.”
Advantages that FxPro has over competitors
- High-quality market analysis and educational resources are available for traders.
- Regulated by multiple authorities, including the FCA, CySEC, SCB, FSC, and FSCA, providing traders with peace of mind regarding their funds’ safety.
- A wide range of financial instruments is available for trading, including Forex, stocks, indices, commodities, and cryptocurrencies.
- Multiple trading platforms to choose from, including the popular MetaTrader 4 and MetaTrader 5 platforms.
- Award-winning customer support is available 24/5.
Who will Benefit from Trading with FxPro?
FxPro is a welcoming community for Kenyan traders of all skill levels, providing a variety of accounts and platforms that allow for easy comparison of asset pricing and costs.
Despite its extensive charting tools, the cTrader platform’s user-friendly structure makes it a breeze to parameterize charts and place trades on desktop and mobile devices.
Furthermore, regardless of your location or payment preferences, FxPro’s onboarding process is easy. However, some features that expert users will appreciate, such as a guaranteed stop-loss trade type and substantial educational materials, are absent.
However, once new traders become acquainted with the straightforward MetaTrader and cTrader platforms, the automated market news reporting, and the opportunity to examine other clients’ positions, they will reap these benefits even as novices.
Trading with FxPro Pros and Cons
Pros
- FxPro offers a diverse range of financial instruments for Kenyan traders, including Forex, stocks, indices, commodities, and cryptocurrencies.
- Kenyans can expect above-average trading solutions from FxPro, comprehensive market analysis, and real-time news.
- FxPro offers several trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms and the popular cTrader. This gives traders more options to find a platform that suits their trading style and preferences.
- FxPro offers competitive spreads and leverage, making it an attractive option for traders looking for favourable trading conditions.
- FxPro has won numerous awards for its customer support, which is available 24/5. In addition, Kenyan traders can contact the support team via live chat, email, or phone, expecting prompt and helpful responses.
- Kenyans can expect transparent pricing with commission-free options, zero-pip spreads, and more.
Cons
- While FxPro offers some educational resources for traders, such as webinars and articles, they are limited compared to other brokers.
- FxPro does not offer many bonuses or promotional offers for Kenyan traders, which may be a disadvantage for traders who enjoy taking advantage of such offers.
- FxPro requires a minimum deposit of $100 to open an account, which may be a barrier for Kenyan traders with limited capital.
FxPro Geographic Reach and Limitations
Most of FxPro’s market share is concentrated in these areas:
- Vietnam – 8.75%
- United Kingdom – 8.68%
- Brazil – 8.66%
- Pakistan – 6.81%
- Malaysia – 6.75%
- Germany – 6.73%
- Thailand – 5.78%
- Kenya – 5.74%
- Italy – 5.70%
- South Africa – 5.54%s
FxPro Current Expansion Focus
FxPro is focused on providing trading solutions to traders in the United Kingdom, Africa, and Europe.
Countries not accepted by FxPro
FxPro does not accept clients from these countries:
- The United States
- Canada
- Iran
Popularity among Kenyan traders who choose FxPro
FxPro is one of the Top 200 forex and CFD brokers for beginners and professional traders.
FxPro at a Glance
| 🏛 Headquartered | London, England |
| 🏙 Kenyan Based Office | No |
| ✅ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2006 |
| 📞 Kenyan Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube • Blog • Telegram |
| ⚖️ Regulation | FCA, CySEC, SCB, FSCA, FSC |
| 🪪 License Number | United Kingdom – 509956 Cyprus – 078/07 Bahamas – SIA-F184 South Africa – FSP 45052 Mauritius – GB21026568 |
| ⚖️ CMA Regulation | None |
| 🚫 Regional Restrictions | The United States, Canada, Iran |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 4 |
| 📊 PAMM Accounts | Only MAM |
| 🤝 Liquidity Providers | Unknown |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Market Execution |
| 📊 Starting spread | No |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a Kenyan shilling Account? | No |
| 👨💻 Dedicated Kenyan Account Manager? | No |
| 📊 Maximum Leverage | 1:500 |
| 🚫 Leverage Restrictions for Kenya? | No |
| 💰 Minimum Deposit (KES) | 12,600 KES ($100) |
| ✅ Kenyan shilling Deposits Allowed? | No, only USD, GBP, EUR |
| 📊 Active Kenyan Trader Stats | 90,000+ |
| 👥 Active Kenyan-based FxPro customers | Unknown |
| 💳 Kenya Daily Forex Turnover | 461 million USD (average) |
| 💵 Deposit and Withdrawal Options | Bank Transfers Credit/Debit Cards Neteller PayPal Skrill UnionPay |
| 🏦 Segregated Accounts with Kenyan Banks? | No |
| 📊 Trading Platforms | MetaTrader 4 MetaTrader 5 cTrader FxPro App |
| ✔️ Tradable Assets | Forex Futures Indices Shares Metals Energies Cryptocurrency CFDs |
| 💸 Offers USD/KES currency pair? | No |
| 📈 USD/KES Average Spread | N/A |
| 📉 Offers Kenyan Stocks and CFDs | No |
| 🗣 Languages supported on Website | English, Spanish, French, German, Italian, Polish, Czech, Hungarian, Swedish, Bulgarian, Finnish, Lithuanian, Danish, Croatian, Estonian, Norwegian, Romanian, Russian, Dutch, Portuguese, Indonesian, Malay, Vietnamese, Thai, Arabic, Korean, Chinese (Simplified), Chinese (Traditional), Mongolian, Japanese |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/5 |
| 👥 Kenyan-based customer support? | No |
| ✅ Bonuses and Promotions for Kenyans | Yes |
| 📚 Education for Kenyan beginners | Yes, App |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✅ Is FxPro a safe broker for Kenyans? | Yes |
| 📊 Rating for FxPro Kenya | 8/10 |
| 🤝 Trust score for FxPro Kenya | 90% |
FxPro Regulation and Safety of Funds
FxPro Regulations in Kenya
FxPro is not currently regulated by the Capital Markets Authority (CMA). However, FxPro is well-regulated by several reputable market regulators in other countries, as per the table in the following section.
FxPro Global Regulations
| 🏛️ Registered Entity | 🔎 Country of Registration | ⚖️ Company Reg. | ✴️ Regulatory Entity | 📈 Tier | 🚀 License Number/Ref |
| FxPro UK Limited | United Kingdom | 06925128 | FCA | 1 | 509956 |
| FxPro Financial Services Limited | Cyprus | HE 181344 | CySEC | 2 | 078/07 |
| FxPro Global Markets Limited | The Bahamas | – | SCB | 3 | SIA-F184 |
| FxPro Financial Services Limited | South Africa | HE 181344 | FSCA | 2 | FSP 45052 |
| Prime Ash Capital Limited T/A FxPro | Mauritius | – | FSC | 3 | GB21026568 |
How FxPro Protects Kenyan Traders and Client Funds
| Security Measure | Information |
| 📈 Segregated Accounts | Yes |
| 💻 Compensation Fund Member | Yes, ICF – this does not cover Kenyans |
| 📊 Compensation Amount | 20,000 EUR |
| 🚀 SSL Certificate | Yes |
| ✴️ 2FA (Where Applicable) | Yes |
| 🔎 Privacy Policy in Place | Yes |
| ⚖️ Risk Warning Provided | Yes |
| 🏛️ Negative Balance Protection | Yes |
| 💰 Guaranteed Stop-Loss Orders | No |
Security while Trading
FxPro takes the following safeguards to keep traders secure while trading with the broker online:
- FxPro requires all passwords to be a certain complexity and length.
- Two-step verification is employed.
- When traders update their passwords, they receive automated email confirmations.
- All applications and websites use the highest level of data encryption.
- FxPro has a tenacious team of professionals who constantly monitor security and are ready to respond to incidents or suspicious conduct involving online payments.
- A resolute Data Protection Officer oversees GDPR compliance.
- Third parties periodically audit FxPro.
Pros and Cons Regulation and Safety of Funds
| ✔️ PROS | ❌ CONS |
| FxPro has a resolute team that monitors all activity | Kenyans are not covered under the investor protection |
| There are third-party audits carried out frequently | The CMA does not regulate FxPro in Kenya |
| Traders can expect top technologies to safeguard their trading accounts | |
| FxPro is extremely well-regulated |
Overall Rating
- 4.7/5
Min Deposit
USD 20 / 1500 KES
Regulators
CySec, FSCA, FCA
Trading Desk
FxPro Trading Platfrom
Crypto
Yes
Total Pairs
300+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FxPro Awards and Recognition
FxPro has received the following rewards and recognition:
- Best Broker in the United Kingdom 2021: Ultimate Fintech Awards.
- Best Forex Provider 2021: Online Personal Wealth Awards.
- Best Trading Platform 2020.
- Best Broker 2014-2020: Financial Times and Investors Chronicles Awards.
- Best Forex Trading Experience 2018: UK Forex Awards.
FxPro Account Types and Features
| 📈 Live Account | 💰 Minimum Dep. | 📊 Average Spread | 💳 Commissions | 🌐 Average Trading Cost |
| Standard | 12,600 KES ($100) | 1.2 pips | Only the Spread | 12 USD |
| Pro | 126,500 KES ($1,000) | 0.6 pips | Only the Spread | 6 USD |
| Raw+ | 126,500 KES ($1,000) | 0.0 pips | $3.5 per side | 7 USD |
| ECN | 3.7 million KES / $30,000 (in 2 months) | 0.0 pips | $3.5 per side | 7 USD |
FxPro Live Trading Account Details
Standard Account
The Standard account is designed for traders who prefer fixed spreads. This account has no commission charges and features fixed spreads starting from 1.2 pips.
| 💰 Minimum Deposit Required | 12,600 KES ($100) |
| 📈 Forex Spread | From 1.2 pips on EUR/USD, GBP/USD, USD/JPY |
| 🚀 Gold Spread | From 25 cents, with an average of 30 cents |
| 💳 Crypto Spread | From 30 USD, with an average of 40 USD |
| ✴️ Commission Fees | None, only the spread is charged |
| 🏛️ Maximum Leverage | 1:500 |
| ⚖️ Minimum Trade Size | 0.01 lots |
| ⚖️ Maximum Trade Size | Unlimited |
Pro Account
The Pro account is designed for more experienced traders who prefer tighter spreads and more flexibility in trading conditions. This account features variable spreads starting from 0.6 pips EUR/USD, with no commission fee.
| 💰 Minimum Deposit Required | 126,500 KES ($1,000) |
| 📈 Forex Spread | From 0.6 pips on EUR/USD, GBP/USD, USD/JPY |
| 🚀 Gold Spread | From 20 cents, with an average of 25 cents |
| 💳 Crypto Spread | From 15 USD, with an average of 20 USD |
| ✴️ Commission Fees | None, only the spread is charged |
| 🏛️ Maximum Leverage | 1:500 |
| ⚖️ Minimum Trade Size | 0.01 lots |
| ⚖️ Maximum Trade Size | Unlimited |
Raw+ Account
The Raw+ account is designed for traders who want the tightest spreads possible and are willing to pay a commission. This account features spreads starting from 0 pips and a commission charge of $3.5 per lot per side.
| 💰 Minimum Deposit Required | 126,500 KES ($1,000) |
| 📈 Forex Spread | From 0.0 pips on EUR/USD, GBP/USD, USD/JPY |
| 🚀 Gold Spread | From 10 cents, with an average of 15 cents |
| 💳 Crypto Spread | From 15 USD, with an average of 20 USD |
| ✴️ Commission Fees | From $3.5 per side |
| 🏛️ Maximum Leverage | 1:500 |
| ⚖️ Minimum Trade Size | 0.01 lots |
| ⚖️ Maximum Trade Size | Unlimited |
ECN Account
The ECN account is designed for traders who want to trade directly with liquidity providers. It offers them access to institutional-grade spreads and execution. In addition, this account features variable spreads starting from 0 pips and a commission charge of $3.5 per lot per side.
| 💰 Minimum Deposit Required | 3.7 million KES / $30,000 (in 2 months) |
| 📈 Forex Spread | From 0.0 pips on EUR/USD, GBP/USD, USD/JPY |
| 🚀 Gold Spread | From 10 cents, with an average of 15 cents |
| 💳 Crypto Spread | From 15 USD, with an average of 20 USD |
| ✴️ Commission Fees | From $3.5 per side |
| 🏛️ Maximum Leverage | 1:500 |
| ⚖️ Minimum Trade Size | 0.01 lots |
| ⚖️ Maximum Trade Size | Unlimited |
FxPro Demo Account
Free demo accounts are available for MetaTrader 4, MetaTrader 5, and cTrader. Demo accounts are especially helpful for new traders since they allow them to test their ideas and become acquainted with the trading platform without risking real money.
The demo account includes live quotes and simulates real-time market conditions for assets such as forex and CFDs on commodities, indices, and stocks. Once users have mastered a demo account, they can effortlessly transition to a live account.
FxPro Islamic Account
FxPro provides a swap-free Islamic account that complies with Sharia law rules.
FxPro Professional Account
FxPro does not currently offer a dedicated account for Professional Traders in Kenya.
FxPro Spread Betting Account
FxPro UK Limited provides Spread Betting to all UK-based clients via its proprietary Spread Betting Platform, FxPro Edge. FxPro Edge is a trading platform that allows clients to trade tax-free across hundreds of instruments and six asset classes.
FxPro Edge’s widget-based user interface can be customized to match your trading needs. You can also trade directly from the chart, ticker or by constructing your own quick trade setups. Over 50 technical indicators, price alerts, and more will also be found.
FxPro Base Account Currencies
Kenyan traders can select USD, EUR, GBP, CHF, PLN, AUD, JPY, or ZAR as their base currency when they open an account with FxPro.
On the other hand, Kenyans will be charged currency conversion costs if they deposit or withdraw in a currency other than the trading account’s base currency.
FxPro Basic Order Types
FxPro’s basic order types are as follows:
- Market Orders
- Pending Orders
- Take Profit
- Stop-Loss Orders
Market Orders
A Market Order is a request to buy or sell a Contract for Difference (CFD) at the prevailing market price as promptly as possible, opening a trade position. CFDs are purchased at the ASK price and sold at the BID price.
Furthermore, with FxPro, Market Orders are available for all accounts. In addition, Stop Loss and Take Profit Orders can accompany Market Orders.
Pending Orders
Pending Orders are requests to buy or sell a CFD at a pre-defined price in the future once a certain price is reached. FxPro offers four Pending Orders: Buy Limit, Buy Stop, Sell Limit, and Sell Stop.
These orders are executed when the price reaches the specified level. However, executing at the requested price may be impossible under certain trading conditions. FxPro has the right to execute the order at the first available price in such cases.
Stop Loss and Take Profit Orders can be attached to a Pending Order and are valid until cancelled. In addition, Pending Orders are available for all accounts with FxPro.
Take Profit
Take Profit Orders are intended to secure profit when the price of a CFD reaches a specific level. The execution of this order results in the complete closure of the entire position and is always connected to an open, market, or pending order.
In addition, the FxPro platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Take Profit Order have been met.
Stop-Loss Orders
Stop-Loss Orders are used to minimize losses if the price of a CFD begins to move in an unprofitable direction. If the price of the CFD reaches the Stop-Loss level, the entire position will be automatically closed.
Stop-Loss Orders are always connected to an open, market, or pending order. The FxPro platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Stop-Loss Order have been met.
FxPro – Slippage and Requote Policy
Slippage
Slippage is a normal component of trading, especially in the currency market. It occurs during moments of high volatility or low liquidity, as well as major news releases or the release of important economic data.
FxPro goes to great lengths to shield traders from market instability. As a result, customers benefit from a comprehensive trade management system that reduces the risk of negative slippage and ensures best-price execution.
Requotes
Because the FxPro MT5 and FxPro cTrader platforms use Market Execution, there are no requotes. However, requotes on FxPro MT4 Immediate accounts may occur during periods of high market volatility.
Checking the ‘Standard Deviation’ box at the bottom of the ‘Order’ window will also prevent requotes by allowing you to select the available pip range if the market price deviates from the price you clicked.
Pros and Cons FxPro Account Types and Features
| ✔️ PROS | ❌ CONS |
| FxPro offers its demo account for much longer than other brokers | The Demo account will expire after 180 days |
| FxPro offers Muslim traders the chance to convert their trading account to an Islamic Account, exempting them from overnight fees | Additional commissions might apply to offset the absence of overnight fees |
| There are flexible trading accounts offered | Some of the minimum deposits on the trading accounts are extremely high |
| There are zero-pip spreads on some accounts, while others offer commission-free trading | |
| FxPro has transparent trading conditions |
How to open an Account with FxPro
To register an account with FxPro, Kenyan traders can follow these easy steps:
Step 1 – Go to the FxPro website
Visit the FxPro website at www.fxpro.com and click the “Register” button at the top right corner of the homepage.
Step 2 – Fill out the form
You will be redirected to a registration form where you must provide your personal information, such as your name, email address, phone number, and country of residence. Choose the account type you want to open. FxPro offers several account types, including a demo, Standard, Pro, Raw+, or ECN account. Submit the registration form and wait for your account to be approved. FxPro may require you to provide additional documentation to verify your identity.
How to close My Account with FxPro
To close a live trading account with FxPro, Kenyan traders can follow these steps:
Step 1 – Log into your account
Log in to your FxPro account. Click on the “MyFunds” tab and select “Withdraw” from the drop-down menu.
Step 2 – Choose a withdrawal method
Choose the withdrawal method you prefer and follow the instructions provided. If any open positions are in your account, close them before withdrawing. Once you have withdrawn all funds from your account, request FxPro’s customer support team to close your account.
FxPro MAM Features
The FxPro MAM account is a multi-account management solution that allows fund managers to manage multiple trading accounts simultaneously from a single interface.
It is a popular choice for professional traders, hedge fund managers, and asset managers who must manage their clients’ trading accounts efficiently. Here are some of its features:
- Flexible allocation methods: FxPro MAM account allows fund managers to allocate trades to multiple client accounts using different allocation methods, such as percentage, lot, and equity.
- Real-time performance monitoring: FxPro MAM account provides real-time monitoring of all client accounts, allowing fund managers to track the performance of their client’s investments in real-time.
- Customizable fee structure: Fund managers can customize the fee structure for each client account, including performance fees, management fees, and other fees, based on their business model.
- Advanced reporting tools: FxPro MAM account provides tools that allow fund managers to generate comprehensive reports on their clients’ trading activity, including performance reports, profit and loss reports, and other account statements.
- User-friendly interface: FxPro MAM account has a user-friendly interface that makes it easy for fund managers to manage multiple accounts, allocate trades, and monitor performance.
- Multiple trading platforms: FxPro MAM account is available on multiple trading platforms, including MT4, MT5, and cTrader, allowing fund managers to choose the platform that best suits their needs.
Social Trading with FxPro
FxPro does not currently offer Social Trading for Kenyan traders.
Broker Comparison
| FxPro | Windsor Brokers | FP Markets | |
| ⚖️ Regulation | FCA, CySEC, SCB, FSCA, FSC | FSC, CySEC, JSC, FSA, CMA | ASIC, CySEC |
| 📱 Trading Platform | MetaTrader 4 MetaTrader 5 cTrader FxPro App | MetaTrader 4 Windsor Brokers App | MetaTrader 4 MetaTrader 5 Myfxbook AutoTrade FP Markets App |
| 💰 Withdrawal Fee | No | Yes | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 12,600 KES ($100) | 12,600 KES ($100) | 8,600 KES (AU$100) |
| 📈 Leverage | 1:500 | 1:400 Kenya 1:500 Other regions | 1:500 |
| 📊 Spread | From 0.0 pips EUR/USD | 0.0 pips | 0.0 pips |
| 💰 Commissions | $3.5 per side | $8 Round Turn | From US$3 |
| ✴️ Margin Call/Stop-Out | 100%/50% | 100%/20% | 100%/50% |
| ✴️ Order Execution | Market | Instant/Market | Market |
| 💳 No-Deposit Bonus | No | Yes | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | Standard Account Pro Account Raw+ Account ECN Account | MT4 Zero Account MT4 Prime Account VIP ZERO | MT4/5 Standard Account MT4/5 Raw Account MT4/5 Islamic Standard Account MT4/5 Islamic Raw Account |
| ⚖️ CMA Regulation | No | No | No |
| 💳 KES Deposits | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | 4 | 3 | 4 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Overall Rating
- 4.7/5
Min Deposit
USD 20 / 1500 KES
Regulators
CySec, FSCA, FCA
Trading Desk
FxPro Trading Platfrom
Crypto
Yes
Total Pairs
300+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FxPro Trading Platforms
FxPro offers Kenyan traders a choice between these trading platforms:
- MetaTrader 4 is one of the most popular trading platforms in the world and is known for its user-friendly interface and advanced charting capabilities. In addition, it offers a wide range of trading tools and indicators, supports algorithmic trading, and is available on desktop, mobile, and web.
- MetaTrader 5 is the successor to MT4 and offers many of the same features but with additional capabilities, such as support for more advanced order types and more timeframes. MT5 is also available on desktop, mobile, and web.
- cTrader is a popular trading platform among professional traders, offering advanced charting capabilities, a wide range of order types, and support for algorithmic trading. It is available on desktop, web, and mobile.
- FxPro App is a mobile trading platform that allows traders to trade on the go, with access to a wide range of markets, advanced charting, and real-time market news and analysis. It also supports algorithmic trading and offers a user-friendly interface.
Overall, FxPro provides a range of trading platforms that cater to the needs of different types of traders, from beginners to professional traders. As a result, Kenyan traders can choose the platform that best suits their trading style and preferences.
Pros and Cons FxPro Trading Platforms
| ✔️ PROS | ❌ CONS |
| FxPro offers access to MT4, MT5, and cTrader, three of the most popular platforms | FxPro does not currently offer a desktop platform, only third-party desktop apps |
| Kenyan traders can access the proprietary FxPro App from an iOS or Android device | |
| There are several third-party tools offered through these platforms | |
| The platforms are user-friendly | |
| Kenyans can access the platforms free of charge |
FxPro Investment Programs
FxPro does not offer a separate investment program for Kenyans.
Which Markets can You Trade with FxPro?
Kenyan traders can expect the following range of markets from FxPro:
- Forex
- Futures
- Indices
- Shares
- Metals
- Energies
- Cryptocurrency CFDs
Financial Instruments and Leverage offered by FxPro
| 📊 Instrument | 📈 Number of Assets Offered | ✴️ Max Leverage Offered |
| Forex | 70 | 1:500 |
| Futures | 21 | 1:50 – 1:100 |
| Indices | 19 | 1:50 – 1:200 |
| Shares | 2,000+ | 1:25 |
| Metals | 8 | 1:50 – 1:200 |
| Energies | 3 | 1:200 |
| Cryptocurrency CFDs | 30 | 1:20 |
Pros and Cons FxPro Range of Markets
| ✔️ PROS | ❌ CONS |
| With FxPro, Kenyans can trade over 2,000 CFDs on shares listed on popular exchanges around the world | There is a limited selection of commodities when compared to competitors |
| Crypto trading is offered via CFDs | |
| There are 70 forex pairs to choose from, including major pairs such as EUR/USD | |
| Kenyans can easily trade several commodities, including metals and energies |
Broker Comparison for a Range of Markets
| FxPro | Windsor Brokers | FP Markets | |
| ➡️ Forex | Yes | Yes | Yes |
| ➡️ Precious Metals | Yes | Yes | Yes |
| ➡️ ETFs | No | Yes | No |
| ➡️ CFDs | Yes | Yes | Yes |
| ➡️ Indices | Yes | Yes | Yes |
| ➡️ Stocks | Yes | Yes | Yes |
| ➡️ Cryptocurrency | Yes | Yes | Yes |
| ➡️ Options | No | No | No |
| ➡️ Energies | Yes | Yes | Yes |
| ➡️ Bonds | No | No | No |
FxPro Trading and Non-Trading Fees
Spreads
There are various spreads, with a spread being the difference between ask and bid and where the FxPro gets the money. The spread rates that traders can anticipate with FxPro vary depending on the account type, and the standard spread for each account type is as follows:
- Standard Account – 1.2 pips EUR/USD
- Pro Account – 0.6 pips EUR/USD
- Raw+ Account – 0.0 pips EUR/USD
- ECN Account – 0.0 pips EUR/USD
Commissions
The Raw+ and ECN Accounts have zero-pip spreads. Traders should expect to pay commissions starting at $3.5 per side, depending on the financial instrument.
Overnight Fees, Rollovers, or Swaps
Overnight fees, in the form of rollover fees, will be levied and published on both the MetaTrader and cTrader platforms.
In Forex, for example, a rollover fee is the interest that is either paid or levied based on the purchase or sale of one currency against another, derived from the difference between their overnight interest rates.
Kenyans can visit the website for further information on these costs. Furthermore, Kenyan traders should understand the spreads and consider them in their trading strategy if they plan to maintain positions for more than a day.
Furthermore, Kenyans can use the FxPro Swap fee calculator to figure out how much they will pay in fees when using FxPro.
Deposit and Withdrawal Fees
Deposit and withdrawal fees do not apply.
Inactivity Fees
FxPro might charge inactivity fees on a dormant account. These fees typically range from $5 to $15.
Currency Conversion Fees
Currency conversion fees will apply on trades, deposits, and withdrawals when traders use currencies other than their base account currency.
Other Trading / Non-Trading Fees
Because conditions change, there could be new or additional fees that we have not covered in this comprehensive review. Therefore, Kenyans must verify all trading and non-trading fees with FxPro before registering a trading account.
Pros and Cons FxPro Trading and Non-Trading Fees
| ✔️ PROS | ❌ CONS |
| FxPro has transparent trading fees and publishes its spread list | The Standard Account features wide spreads |
| Traders can easily consult the several trading calculators on the FxPro website to verify the fees they can expect | |
| Traders can expect competitive trading conditions across several trading instruments and accounts | |
| There are zero-pip spreads on two trading accounts, while the other two have commission-free trades |
Overall Rating
- 4.7/5
Min Deposit
USD 20 / 1500 KES
Regulators
CySec, FSCA, FCA
Trading Desk
FxPro Trading Platfrom
Crypto
Yes
Total Pairs
300+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FxPro Deposits and Withdrawals
FxPro offers Kenyan traders the following deposit and withdrawal methods:
- Bank Transfers
- Credit/Debit Cards
- Neteller
- PayPal
- Skrill
- UnionPay
Broker Comparison: Deposit and Withdrawals
| FxPro | Windsor Brokers | FP Markets | |
| 💰 Minimum Withdrawal Time | 1 business day | Instant | Yes |
| 💵 Maximum Estimated Withdrawal Time | 7 business days | Maximum 5 to 7 working days | Yes |
| 💸 Instant Deposits and Instant Withdrawals? | Yes, Deposits | Yes | No |
FxPro Deposit and Withdrawal Details – Payment Methods, currencies, processing time, etc.
| 💵 Payment Method | 💰 Deposit Currencies | 💰 Deposit Processing | 💸 Withdrawal Processing |
| Bank Transfers | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | 1 – 3 days | 3 – 7 days |
| Credit/Debit Cards | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| PayPal | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| Skrill | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
| UnionPay | USD, EUR, GBP, CHF, PLN, AUD, JPY, ZAR | Instant | 1 day |
Pros and Cons FxPro Deposits and Withdrawals
| ✔️ PROS | ❌ CONS |
| FxPro offers major deposit and withdrawal methods such as PayPal, Bank Transfers, Credit and Debit Cards, Neteller, and Skrill | Traders will still face banking and processing fees from their payment provider |
| Deposits and withdrawals do not incur a fee from FxPro | There are no local deposit or withdrawal options for Kenyans |
| Instant deposits are available | Kenyans cannot deposit or withdraw in KES |
| FxPro is a trusted broker that guarantees the security of funds when Kenyans deposit money | |
| Withdrawals are typically processed within a day |
How to Deposit Funds with FxPro
To deposit funds to an account with FxPro, Kenyan traders can follow these steps:
Step 1 – Log into your account
Sign in to your FxPro account using your login credentials.
Step 2 – Click on the deposit option
In the page’s upper right corner, click the “Deposit Funds” button.
Step 3 – Choose payment method
Choose the payment method you wish to use for the deposit. FxPro accepts payment options such as bank transfer, credit/debit cards, PayPal, Skrill, and Neteller. Enter the deposit amount and click “Next.”
How long do FxPro Deposits take?
Deposits with FxPro can be instant or take up to three days, depending on when you deposit and which method you choose.
FxPro Fund Withdrawal Process
To withdraw funds from an account with FxPro, Kenyan traders can follow these steps:
Step 1 – Log into your account
Log in to your FxPro account.
Step 2 – Click on the withdrawal option
Click on the “Withdraw Funds” button in the page’s top right corner. Choose your preferred payment method from the various options provided by FxPro, including bank transfer, credit/debit cards, PayPal, Skrill, Neteller, and others. Enter the amount you wish to withdraw and click “Next.” Then, follow the instructions on the screen to complete the withdrawal process.
How long do FxPro Withdrawals take?
FxPro processes withdrawals within a day or two. However, the process might take a few days to complete depending on your chosen payment method and internal processes from your payment provider/bank.
FxPro Education and Research
Education
FxPro offers the following Educational Materials to Kenyan traders:
- 9 Online Courses
- 4 Fundamental Analysis Courses
- 5 Technical Indicator Courses
- Trading Psychology
- YouTube Videos on the official channel
Research and Trading Tool Comparison
| FxPro | Windsor Brokers | FP Markets | |
| 📊 Economic Calendar | Yes | Yes | Yes |
| 🤝 VPS | Yes | No | Yes |
| 🛑 AutoChartist | No | No | Yes |
| 📈 Trading View | Yes | No | No |
| 📱 Trading Central | Yes | No | No |
| 💰 Market Analysis | Yes | Yes | Yes |
| 📚 News Feed | Yes | Yes | Yes |
| 👥 Blog | Yes | Yes | Yes |
FxPro also offers Kenyan traders the following additional Research and Trading Tools:
- Economic Calendar
- Forex News
- Trading Calculators
- Earnings Calculators
- FxPro Market News
- Technical Analysis through Trading Central
- Trader’s Dashboard
- FxPro Direct App
- FxPro VPS
- Download Centre
Pros and Cons FxPro Education and Research
| ✔️ PROS | ❌ CONS |
| There are a few educational courses that traders can attend | The educational material offered is extremely sparse |
| FxPro has a range of trading tools for beginner and professional traders | |
| Free VPS is offered to eligible traders | |
| Traders can use the technical analysis from Trading Central | |
| There is a comprehensive market analysis available |
FxPro Bonuses and Promotions
Kenyan traders are not eligible for any bonuses or promotions from FxPro. Yet, FxPro’s excellent rebates scheme rewards partners and their clients.
How to open an Affiliate Account with FxPro
To register an Affiliate Account, Kenyans can follow these steps:
Step 1 – Go to FxPro’s website
Go to FxPro’s website and select the “Partners” tab at the top of the page.
Step 2 – Click on the partnership program option
Choose the “Join Our Partnership Program” button.
Step 3 – Fill out the form
Fill out the registration form with your personal information, including your name, email address, phone number, and country of residence. Choose the type of cooperation you want, such as Introducing a Broker or Affiliate.
FxPro Affiliate Program Features
Kenyans participating in FxPro’s Affiliate Program can expect various benefits and incentives. Here are some of the benefits of the program:
- Attractive commission rates: FxPro’s Affiliate Program offers competitive commission rates, allowing affiliates to earn up to $1,000 per client referral.
- Real-time tracking and reporting: Affiliates can monitor their referrals’ trading activities and commissions earned in real-time through FxPro’s user-friendly affiliate portal.
- Marketing tools and resources: FxPro provides affiliates with various marketing tools and resources to help promote the platform and attract new clients.
- Customized commission structures: Affiliates can negotiate customized commission structures based on their needs and preferences.
- Dedicated support: FxPro’s Affiliate Program offers dedicated support to affiliates, with a dedicated account manager assigned to assist with any questions or issues that may arise.
Overall, FxPro’s Affiliate Program provides Kenyans an excellent opportunity to earn additional income by promoting the platform to their network. Affiliates can enjoy a flexible and rewarding program while providing their referrals with access to a world-class trading platform.
FxPro Customer Support
| Customer Support | FXGT.com Customer Support |
| ⏰ Operating Hours | 24/5 |
| 📚 Support Languages | Multilingual |
| 👥 Live Chat | Yes |
| 📱 Email Address | [email protected] |
| 📞 Telephonic Support | Yes |
| ✅ The overall quality of FXGT.com Support | 5/5 |
Pros and Cons FxPro Customer Support
| ✔️ PROS | ❌ CONS |
| FxPro has won a few awards for the quality of its customer support | There is no customer support over weekend |
| Many customer reviews praise FxPro’s customer support | There is no WhatsApp line |
| There are a few channels through which Kenyans can contact FxPro | There is no local customer support for Kenyans |
| FxPro offers a live chat option on the website | |
| Traders can contact FxPro 24/5 |
FxPro Corporate Social Responsibility
As a socially responsible company, FxPro has undertaken various Corporate Social Responsibility (CSR) initiatives to support social and environmental causes. Here are some of the CSR projects that FxPro has been involved in:
- FxPro Education Program: FxPro has partnered with several universities and educational institutions to provide students and traders with financial education and trading courses.
- Charitable donations: FxPro has donated to several charitable causes, including UNICEF, Médecins Sans Frontières, and the Red Cross.
- Environmental initiatives: FxPro has implemented various initiatives to reduce its environmental impact, such as adopting energy-efficient technology and reducing paper usage.
- Community outreach programs: FxPro has organized community outreach programs to support local communities, such as providing school supplies to underprivileged children and sponsoring local sports teams.
- Sponsorships: FxPro has sponsored various sports events and teams, including Formula 1 team Aston Martin Cognizant and Premier League football club Watford FC.
Additional Features of FxPro
Financial Reports
FxPro does not currently publish its financial reports.
FxPro Future Vision
FxPro does not currently publish its objectives for 2023 onwards.
FxPro Risk Warning and Disclaimer for traders
Trading Forex and CFDs involves significant risks and may result in the loss of your entire investment. In addition, as a leveraged product, Forex and CFD trading may not be appropriate for all investors.
Therefore, it is crucial to understand the risks associated with Forex and CFD trading and seek independent financial advice if required to make informed investment decisions.
Furthermore, FxPro is not liable for any loss or damage, including loss of profit, resulting directly or indirectly from using or relying on such material.
FxPro VPS Review
The inclusion of a virtual private server is ideal for algorithmic traders who wish to refine their skills, examine their performance, and generate higher returns.
The VPS is a cloud-based solution allowing algorithmic traders to privately upload their algorithms and run them without downtime or a PC connection.
FxPro Trading Signals
FxPro provides Kenyans access to trading signals through its platforms, including MetaTrader 4 and MetaTrader 5. Traders can access the trading signals by logging into their FxPro account and selecting the signals tab within the platform.
The signals provided by FxPro are generated by third-party signal providers who use advanced technical analysis tools to identify potential trading opportunities in the markets.
These signals are then sent to the traders’ accounts in real-time, allowing them to execute trades based on the suggested entry and exit points.
Kenyans can choose from various signal providers with their own trading strategies and risk levels. They can also customize the signal parameters, such as lot sizes and stop-loss levels, to suit their trading preferences.
In addition, FxPro also provides educational resources on its website to help Kenyans understand how to use trading signals effectively and integrate them into their trading strategies.
FxPro Cashback Rebates Features and Conditions
Overall, FxPro offers forex rebates of up to 30% of the spread on the MT4 (Instant, Standard, and Fixed), FxPro Edge, MT5, cTrader, and Spread Betting (not available in Kenya) Accounts as follows:
| MT4 (Instant, Standard, Fixed) | FxPro Edge | MT5 | cTrader | Spread Betting | |
| ➡️ Forex | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the spread + 24.50% per million USD traded | 10% of the execution spread or Bet Spread |
| ➡️ Indices | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the Spread | – |
| ➡️ Cryptocurrency | 30% of the Spread | 30% of the Spread | 30% of the Spread | – | – |
| ➡️ Precious Metals | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the spread + 24.50% per million USD traded | – |
| ➡️ Energies | 30% of the Spread | 30% of the Spread | 30% of the Spread | 30% of the Spread | – |
| ➡️ Shares | 30% of the Spread | 30% of the Spread | – | – | – |
| ➡️ Soft Commodities | 30% of the Spread | 30% of the Spread | 30% of the Spread | – | – |
| ➡️ Futures | 30% of the Spread | 30% of the Spread | 30% of the Spread | – | – |
| ➡️ Payment Frequency | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders | FxPro Offers monthly Cashback to traders |
FxPro Cashback Forex Conditions and Additional Notes
- A business associate who registers as an “introducing broker” can earn commissions based on the transaction volume of referred clients. Clients can earn up to 30% of the spread, while partners can earn up to 55% of FxPro’s revenue.
- The FxPro partner dashboard consolidates earnings, trading activity, new sign-ups, deposits, withdrawals, and other essential information to promote the business.
- FxPro remunerates rebates to eligible traders monthly, immediately following the month the rebates were earned.
- Customers from Spain, Portugal, and Belgium are ineligible for rebates.
- A client utilizing the “Close By” or “Multiple Close Buy” techniques shall not be entitled to rebates from FxPro.
FxPro Web Traffic Report
| 🏛 Global Rank | 92,362 |
| ⚖️ Country Rank | 10,407 |
| 📊 Category Rank | 120 |
| 👥 Total Visits | 12.1 million |
| 📈 Bounce Rate | 61.04% |
| 📱 Pages per Visit | 2.08 |
| ⏰ Average Duration of Visit | 00:01:17 |
| 📚 Total Visits in the last three months | November – 694K December – 634K January – 775K |
Our Final Verdict on FxPro
FxPro is a reputable and reliable forex and CFD broker with various account types, platforms, and tools suitable for traders of different experience levels.
FxPro offers competitive pricing, low spreads, and fast execution, which is advantageous for traders. However, their minimum deposit requirement may be higher than some traders prefer. In addition, there are fees for some account types and services.
FxPro provides traders various educational materials, market analysis, and technical tools to aid their trading decisions.
Additionally, they offer access to various platforms, including MetaTrader 4, MetaTrader 5, cTrader, and their proprietary FxPro app, which is convenient for traders who prefer mobile trading.
Furthermore, FxPro provides a range of account types, including ECN, STP, and DMA, which enables traders to choose the account that best suits their trading style.
One significant drawback for Kenyan traders is that FxPro does not accept payments in Kenyan Shillings. However, they offer various payment methods, including credit/debit cards, bank transfers, PayPal, Skrill, and Neteller, which may incur fees depending on the payment method.
FxPro is an excellent choice for traders seeking a trustworthy and reputable broker with various account types, platforms, and tools.
Nonetheless, traders should know the risks of forex and CFD trading and understand that losses can exceed their initial investment.
FxPro Alternatives
- eToro offers commission-free trading, a social trading platform, and is regulated by several authorities, including the FCA and CySEC. eToro also offers a unique copy trading feature that allows traders to follow and copy the trades of other successful traders. However, their spreads are generally higher than FxPro, and their platform may not be as advanced.
- XM offers low spreads and multiple trading platforms and is regulated by multiple authorities, including the FCA, CySEC, and ASIC. XM also offers a range of educational resources and trading tools for traders. However, they do not offer as many trading instruments as FxPro, and their platform may not be as advanced.
- Plus500 offers competitive spreads and a user-friendly platform. Plus500 also offers a free demo account for traders to practice before investing real money. However, they offer a limited selection of trading instruments compared to FxPro.
Latest Existing/Previous Customer Comments on FxPro for 2022/3
- Reuben Salazar (August 2022) “I am pleased with my trading experience at this platform. The interface is user-friendly, and the platform offers a wide range of assets for trading, with easy withdrawal options.”
- Courtney Vargas (April 2022) “FxPro has proven to be a suitable replacement for my previous broker. After researching and observing its services, I have decided to continue trading here as a swing trader. The platform offers everything I need.”
- Madiha Sykes (January 2022) “The team at FxPro knows how to cater to traders’ needs. I have found their platforms suitable for trading Forex and stocks without experiencing any technical issues in the market. The platform offers many opportunities to make profits.”
Recommendations according to our in-depth review of FxPro
FxPro is a competitive broker with favourable trading conditions and a choice between flexible account types and platforms. However, educational materials (such as webinars, eBooks, and more) are lacking.
Frequently Asked Questions
Is FxPro regulated?
FCA regulates FxPro in the UK, CySEC in Cyprus, FSCA in South Africa, SCB in the Bahamas, and FSC in Mauritius.
What is the minimum deposit required to open a FxPro account?
The minimum deposit required to open a FxPro account depends on your chosen account type. For example, the minimum deposit for a Standard Account is $100. Pro and Raw+ Accounts are $1,000, and an ECN Account costs $30,000 over two months.
How can I withdraw funds from my FxPro account?
To withdraw funds from your FxPro account, log in to your account and click on the “Withdraw Funds” button.
Next, you can choose your preferred payment method and enter the amount you wish to withdraw. Then, follow the on-screen instructions to complete the transaction. FxPro processes withdrawal requests within 1-2 business days.
How long does it take to withdraw from FxPro?
It can take 3 to 7 working days to receive your funds after submitting a withdrawal request to FxPro.
How can I deposit funds into my FxPro account?
To deposit funds into your FxPro account, click the “Deposit Funds” button.
Next, choose your preferred payment method, such as bank transfer, credit/debit cards, PayPal, Skrill, or Neteller, and follow the on-screen instructions to complete the transaction.
Does FxPro have VIX 75?
FxPro does not have VIX.
What trading platforms does FxPro offer?
FxPro offers four trading platforms: MetaTrader 4, MetaTrader 5, cTrader, and the FxPro App. Each platform has features and advantages, such as advanced charting tools, customizable layouts, and mobile trading capabilities.
Does FxPro have Nasdaq 100?
Yes, FxPro has Nasdaq 100.
How can I open a trading account with FxPro?
To open a trading account with FxPro, visit their website and click the “Sign Up” button.
Next, fill in the necessary details, such as your name, email address, and password, and select your preferred trading platform. Once you submit your application, you will receive an email with instructions on completing the registration process.
Is FxPro Safe or a Scam?
FxPro is a safe forex and CFD broker regulated by Tier-1, Tier-2, and Tier-3 regulators worldwide.
Why should I work through the SA Shares Cashback?
You can expect some of the highest commissions if you work through SA Shares to earn up to 30% Cashback Rebates from Forex Brokers such as FxPro.
This is because SA Shares aims to negotiate the most competitive commission rates with brokers such as FxPro to ensure you get the most back from your trading activities.
Conclusion
Our Review Methodology
For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Now it is your turn to participate:
- Do you have any prior experience with FxPro?
- What was the determining factor in your decision to engage with FxPro?
- Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
- Have you experienced issues with FxPro, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk.
In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
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