FxPro Australia review - platform & app deep-dive

FxPro has been operating since 2006, offering forex and CFD trading through several platforms. Australian residents can open accounts with us, but we do not hold an ASIC licence. Your profile is onboarded under one of our offshore entities, usually CySEC in Cyprus or SCB in the Bahamas, so you sit outside ASIC's investor protection rules, including AFCA dispute resolution.

We make around 2,249 CFD instruments available, covering forex pairs, global indices, shares, metals, energies and a selection of cryptocurrencies. The minimum first deposit is typically USD 100. Our customer service runs 24/5 via live chat, email and phone for trading-week coverage.

Regulation is provided by the FCA in the UK, CySEC in Cyprus, the SCB in the Bahamas and the FSCA in South Africa. Clients under CySEC get access to the Investor Compensation Fund with cover up to EUR 20,000. FCA-regulated accounts fall under FSCS protection up to GBP 85,000. It is important to check your client agreement to see which legal entity you are contracted with and what protection is attached.

We support four trading platforms: MT4, MT5, cTrader and our own FxPro Edge. All platforms reach into the same liquidity pool, but their execution model, charting package and order tools feel a bit different in practice.

MT4 and MT5 are third-party platforms and both support Expert Advisors, which are automated trading robots. MT4 is more focused on forex trading with a stripped-back interface. MT5 builds on that with extra timeframes, additional order types and an integrated economic calendar. Both platforms include more than 30 technical indicators for chart analysis.

cTrader is built around faster execution and more transparency in prices. It gives Level II pricing, 76 built-in indicators and algorithmic strategies through cAlgo. Traders who care a lot about depth of market, low-latency fills and visibility of order book often lean towards cTrader. It supports one-click dealing, detachable charts and detailed depth-of-market panels.

FxPro Edge is our proprietary web and mobile platform. It offers 53 indicators, several chart styles and sync between devices, with no desktop installation at all. Edge supports market, limit and stop orders, with Good-Till-Cancelled and Good-Till-Time settings, so you can manage how long orders remain active. The interface is built for speed and simplicity, which suits discretionary traders who rely heavily on their phones or browsers.

It usually makes sense to run each platform on a demo account first, then decide where you feel most comfortable before placing live trades.

Our trading is available on mobile through native apps for MT4, MT5, cTrader and FxPro Edge on both iOS and Android. The MetaTrader apps are created and maintained by MetaQuotes and connect to our servers. cTrader mobile is developed by Spotware. FxPro Edge mobile is our in-house app that brings together funding, trade management and charting.

FxPro Edge for mobile and tablets supports landscape layouts and split-screen multitasking on compatible devices. You can enable real-time price alerts, push notifications for margin calls and use one-tap closing of positions. Chart types include candlestick, bar, line and Heikin Ashi. For drawings you get trend lines, Fibonacci retracements and horizontal support or resistance levels.

From within the app, you can check balance, equity, margin figures and all open trades without going back to a browser. Deposits and withdrawals can be started directly in the app. In some cases, particularly with larger files, you might find it easier to upload verification documents from a desktop.

On iOS, to install FxPro Edge you typically:

1. Open the App Store and search for "FxPro", or follow the App Store badge from our website.
2. Tap "Get" and confirm with Face ID, Touch ID or your Apple ID password.
3. After download, tap "Open", then choose "Log In" if you already registered with us, or "Register" for a new account.
4. Enter your email and password, complete any two-factor authentication you have set up.
5. Go to the Accounts tab, pick the trading account you want to use, tap "Trade", choose the instrument, select volume and order type, then confirm.

On Android, the flow is similar:

1. Open Google Play Store, type "FxPro" in search or use the Google Play badge on our website.
2. Tap "Install", wait for the app to download and install automatically.
3. Open the app, then log in with your existing credentials or tap to register. You will be asked for email, password and your country.
4. Confirm your email address via the link sent to your inbox.
5. Once inside the main screen, select your account, choose an instrument from the watchlist, tap buy or sell, set the lot size and other parameters, and send the order.

Both iOS and Android apps are updated frequently. We suggest enabling automatic updates in your phone settings to receive the newest features and security fixes without having to check manually each time.

Trading costs depend on the type of account and the platform you pick. Standard accounts on MT4 and MT5 use variable spreads with no extra commission. The cTrader account is structured differently, with raw spreads and a per-lot commission on each side of the trade. On EUR/USD, our typical spread for a standard account is around 1.6 pips, which is slightly higher than the industry average and above some Australian discount brokers such as Pepperstone or IC Markets.

On cTrader, commission-based accounts charge a fixed amount per lot per side in USD. Traders who scalp or open and close positions very often sometimes prefer this setup because the spreads are tighter, and they can plan their cost per trade more precisely. Swap charges apply when positions are held overnight. They are based on interbank rates and include adjustments for weekend rollovers.

We generally do not add deposit fees on most payment methods, but payment providers or banks can still charge their own costs. Withdrawal charges change depending on the method and currency you use. Bank transfers usually have a fixed fee attached. E-wallet payouts are often cheaper and might be free or carry only a small fee. An inactivity fee applies if your account has no trading activity for 12 months.

When comparing accounts, it helps to think in total cost per trade, not just spreads or commission separately. That total includes spread, commission and any currency conversion fees. Our website hosts a cost calculator that can assist with these calculations.

To open a trading account with us, you go through a standard registration and verification process. During sign-up we will ask for your personal details such as full name, date of birth, residential address, phone number and email. If you are based in Australia, you should select "Australia" as your country. That choice is what determines which of our entities will regulate your account.

For identity verification, we normally require a government-issued photo ID such as a passport, driver's licence or national ID card. To confirm your address, you will need to upload a recent document like a utility bill, bank statement or a government letter, usually not older than three months. When you upload, make sure the image is clear and all corners of the document are visible.

In usual market conditions, verification takes around one to three business days. Before verification is complete, your account may be limited for deposits and trading. If any of your documents are not accepted, our system highlights the reason and provides instructions on what you need to upload again.

Leverage is set as part of the account creation flow and can later be updated through the client portal. For Australian residents, maximum leverage will depend on the entity you register under and the account type you select. The typical range goes from 1:30 for more conservative setups up to 1:500 for higher-risk profiles. Larger leverage enhances both potential profit and loss for each price movement.

After your main profile is verified, you can configure an additional trading account in a few steps:

1. Log in to the FxPro client portal with your email and password.
2. Go to the "Accounts" section and click "Open New Account".
3. Choose the platform you want to link this account to: MT4, MT5, cTrader or FxPro Edge.
4. Select the account currency from the list. For Australian clients, AUD is available.
5. Pick your leverage level within the allowed range and review the account terms.
6. Click "Create Account" to finish. Your new account number and password are shown on the confirmation screen; these details are needed to log in to the platform.

Account base currency cannot be modified later, so if you decide to trade in another currency you simply open an extra account with that base currency.

With FxPro you can trade more than 70 forex pairs, along with indices, share CFDs, commodities and crypto CFDs. The currency list includes major, minor and exotic pairs. Popular majors such as EUR/USD, GBP/USD and AUD/USD usually have the tightest spreads and deep liquidity. Exotic crosses like USD/TRY or EUR/ZAR tend to show wider spreads and can feel less liquid, particularly outside peak trading hours.

Our index CFDs cover key global benchmarks, for example the S&P 500, FTSE 100, DAX 40 and the domestic ASX 200. This allows Australian traders to gain leveraged exposure to the local equity market via the ASX 200 CFD, instead of buying individual listed shares.

Share CFDs give exposure to companies across leading exchanges in the US, UK, Germany, France and several other markets. That includes recognised names such as Apple, Microsoft, Tesla, BHP and Commonwealth Bank. With share CFDs, long positions are credited with dividends when they are paid, while short positions are usually debited.

On the commodity side we offer CFDs on precious metals like gold, silver, platinum and palladium, energy products such as crude oil and natural gas, and some agricultural contracts. Gold and silver are quoted against the US dollar. Our crypto CFD list includes Bitcoin, Ethereum, Litecoin, Ripple and a few other digital assets. These are normally available for trading 24/7.

Not every instrument is tradable on every platform or account type, so it is worth checking the contract specifications in your chosen platform.

Risk tools are built into all supported platforms. You can add stop-loss orders, take-profit orders and trailing stops to your positions. A stop-loss is set at a price where your trade will close automatically to limit further loss. A take-profit is placed at a target level where the platform locks in your profit and closes the trade.

Trailing stops behave differently: once your trade moves in your favour, the stop moves behind the price by a fixed distance that you define. If the market turns around, the trailing stop stays at its last updated level and can help protect part of your unrealised profit.

Guaranteed stop-loss orders are not offered on all accounts or instruments, and standard stop-loss orders are still subject to slippage. During sharp market moves or very thin liquidity, your stop might be executed at the closest available price instead of the exact level you specified.

Negative balance protection applies to accounts regulated by CySEC and FCA. Under this protection, your account balance cannot fall below zero, even during sudden price gaps where losses might otherwise exceed your deposit. Australian traders who are onboarded under CySEC or FCA entities are covered by this mechanism.

We use a hybrid execution model that combines elements of market making and ECN-style routing. Liquidity is aggregated from multiple providers, and orders are sent to the venue that offers a mix of competitive price, quick execution and available volume. Under normal conditions, execution times are usually below 50 milliseconds for most markets.

To add or adjust stop-loss and take-profit on an open trade in FxPro Edge:

1. Log in to the web or mobile platform and go to the "Positions" tab.
2. Select the position you want to edit, then tap or click on it.
3. Choose "Edit" (often represented by a small pencil icon).
4. Type your chosen stop-loss price into the Stop Loss field. The platform will show you the distance in pips.
5. Enter your take-profit price into the Take Profit field.
6. Check how the risk-to-reward ratio looks, then confirm the change to update your order.

You can modify or remove these levels at any time, as long as the order has not been triggered yet.

Our customer support team is available 24/5, covering the full market week from the Asia open on Monday to the US close on Friday. You can reach us through live chat, email or a direct phone line. Chat is accessible from the website and through our mobile applications.

For app-related queries, you can send an email to mobilehelp@fxpro.com. We usually respond within a window of 2 to 24 hours depending on volume. Phone assistance is available on +357 99 259316, where multilingual staff can help with account or platform questions.

We accept funding through bank wire transfers, credit and debit cards, plus several e-wallets. Bank wires generally take between one and three business days to be credited. Card and e-wallet deposits are near-instant in most cases or processed within a couple of hours. Our standard minimum deposit is USD 100 or the equivalent in AUD.

If your account base currency is set to AUD during registration, you can deposit directly in AUD. When you send funds in a different currency, they are converted at the prevailing exchange rate and may include conversion costs from your bank or payment provider.

Withdrawals are normally returned to the same method used for the initial deposit, in line with standard anti-money laundering practices. After you submit a request, our finance team reviews and approves it within roughly one to two business days. Bank wire withdrawals might then take an extra three to five business days to reach your account, while e-wallet payouts typically arrive within 24 hours after processing.

To place a withdrawal request you generally:

1. Log in to the FxPro client portal.
2. Open the "Funds" or "Withdrawal" section.
3. Pick the trading account you want to withdraw from.
4. Select the withdrawal method that matches a funding method you used before.
5. Enter the amount in your account base currency and check that you leave enough free margin to support your open trades.
6. Review any listed fees and the estimated time frame, then submit the request.

We cannot release withdrawal payments until your account verification is fully completed.