Where Does FxPro Legally Operate?

Is FxPro legal and safe?

FxPro is a reliable and legal trading platform traders can invest in, as it is regulated by the major financial regulators globally. FxPro is regulated in the UK, Cyprus, the Bahamas, and South Africa. Additionally, they have an administrative office located in Monaco, 98000, at 26 Boulevard des Moulins.

The EU approves and regulates FxPro through the MiFID passport system. Again, the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 Law 87 (I)/2017 and the European Markets in Financial Instruments Directive (MIFID II) govern the broker. FxPro is authorized to provide investment and ancillary services due to its cross-border CySEC license. This makes FxPro a reliable and safe trading platform for clients from different countries.

Furthermore, only segregated accounts are used to hold client funds. FxPro has partnerships with several big banks, including Barclays Bank PLC, Julius Baer, and Royal Bank of Scotland, to guarantee that client funds are kept in banks. FxPro offers negative balance protection, which is part of the client agreement.

Available FxPro countries

FxPro has been offering its clients online trading services since 2006, and it presently serves 173 countries globally. Below are some of the countries where the services of FxPro are available.

• Indonesia

• United Kingdom

• European Union

• Bahamas

• Italy

• Cyprus

• UAE

• France

• Germany,

• Monaco

• South Africa

• Thailand

• Sweden

• Australia

• Singapore

• Hong Kong

• India

• Luxembourg

• Norway

• Denmark

• Saudi Arabia

• Qatar

• Kuwait, etc.

Which country is FxPro banned from?

You can't open an account at FxPro if you live in the United States, the Islamic Republic of Iran, Canada, Cote d’Ivoire, Cuba, Afghanistan, Bosnia and Herzegovina, or Myanmar. Other countries where the services of FxPro are inaccessible include:

• Vanuatu

• Yemen

• Somalia

• Sudan

• Democratic People’s Republic of Korea (DPRK) (North Korea)

• Congo

• Puerto Rico

• Iraq

• Liberia

• Zimbabwe

• Northern Marianna Islands

• South Sudan

• Syria

• Tunisia

• Libya

• Trinidad and Tobago

Is Forex trading risky?

Because Forex trading carries significant risks, it requires a deep understanding of the financial market. The buying and selling of different currencies is the essence of Forex trading, and the risks are related to changes in these currencies' values. The intrinsic riskiness of Forex trading is exacerbated by the unpredictability of currency fluctuations.

Trading foreign exchange on the forex market carries several risks, such as counterparty, interest rate, liquidity, market, and leverage risks. Market risk is associated with variables that impact the value of traded currency pairs. As market volatility increases, the risks also increase.

Leverage can increase returns, but when used aggressively in a volatile market, it can cause large losses. Also, in times of low market liquidity, liquidity risk appears. Interest rate risks appear when interest rates change, impacting exchange rates and leading to notable changes in foreign exchange prices. The following events collectively impact interest rates: political developments, labor strikes, natural disasters, wars, inflation, economic growth, and regulatory changes.

Understanding that risk will always exist is the first step toward managing it effectively. Using responsible risk management strategies becomes essential as risk exposure rises. Because currency trading carries risk, traders should approach the market with a thorough understanding of its dynamics, put effective risk management strategies into place, and keep up to date on the various factors that influence currency markets.