FxPro Fees and Spread Review
As a trader, one of your biggest goals is to minimize risks and maximize profits. One way to do this is to reduce the fees you pay when trading with a particular broker.
FxPro is one of the leading online forex and CFD brokers in the world. If you’re considering whether or not to choose this broker for your forex and CFD trading, it may help to look at their costs and commissions.
In this FXPro fees review, we’ll go over how much you can expect to pay in terms of fees when trading on the FxPro platform. We’ll also compare FxPro’s fees to other brokers to help you get a better picture of how affordable the broker is.
Let’s get started.
FxPro Fees Review
When it comes to fees and spreads, FxPro’s costs are average when compared to other brokers. So, even though FxPro offers more account options than other brokers, traders may choose other options because of their average fees.
Therefore, if you’re considering FxPro as your forex and CFD broker, be aware that while their fees aren’t the highest, they’re not the lowest on the market either.
FxPro - Forex Fees and Spread
Forex spreads and fees are an important consideration when evaluating different forex and CFD brokers. Spreads represent a broker’s sell rate and buy rate when exchanging or trading currencies.
A spread can either be narrow or wide. If a spread is wider you face more loss, and vice versa. There are many factors that determine how narrow or wide a spread can be. These include the currency pair you’re trading, how volatile it is, the size of your trade when the trade takes place, which broker you’re using, and certain economic conditions.
FxPro, like many other brokers incorporates a spread into the cost of placing a trade. FxPro’s forex spreads and fees for popular trading pairs are higher than those of other brokers. Below is a chart that compares FxPro’s spreads with competitors IC Markets and Exness. These spreads are for standard accounts on the platform.
FxPro Spread Compared
| FxPro (MT4 account) | IC Markets (Standard) | Exness | |
|---|---|---|---|
EURUSD |
1.61 |
0.62 |
1.0 |
GBPUSD |
1.76 |
0.83 |
1.1 |
USDJPY |
1.67 |
0.74 |
1.3 |
Forex Trading Fees
Like many other forex brokers, FxPro doesn’t charge commissions on most deals. Instead, the platform charges trading fees for certain types of assets. Their trading fee structure varies by the type of product, trade, size, and other factors.
For example, for spot metals, FxPro charges a trading fee of $45 for every million USD traded. Plus, the platform charges a standard commission for these types of commodities. Whenever you open or close a trade position, you incur commission charges on the platform. It’s also important to know that for a cTrader account has a fixed fee that’s relatively cheap—$4.5 per lot + 0.55 average spread.
FxPro CFD Fees and Spread
FxPro CFD spreads and fees tend to be relatively low. Their spreads and commissions are different for each asset. You can see this illustrated in the table below.
| Asset | Spreads |
|---|---|
S&P 500 CFD |
0.6 |
Europe 50 CFD |
1.25 |
Apple CFD |
0,62 |
Vodafone CFD |
0.75 |
On the FxPro MT4 Raw Spread Account, you’ll be charged a commission of $3.50 charged per lot when you open and close the position for FX & Metals. On the other hand, if you’re trading FX & Metals on a cTrader account, you’ll have to pay a commission fee of 45USD for every 1 million USD traded when opening and closing a position.
If you’re trading other commissions on an MT4 Raw Spread Account or cTrader account, all instruments are with floating spread and zero commission.
FxPro Non-Trading Fees
In addition to trading fees, FxPro also charges non-trading fees, which involves an inactivity fee. The broker offers an average non-fee structure, compared to other well-known forex and CFD brokers.
Does FxPro Charge Inactivity Fee?
Yes, FxPro charges an inactivity fee. The fee involves a $15 one-off account maintenance fee and a $5 monthly fee after six months of inactivity.
Does FxPro Charge Withdrawal Fee?
No, FxPro doesn’t charge a withdrawal fee. However, you may be subject to a fee by your bank if you make a bank transfer from your trading account. It’s important to note that you might also be subject to withdrawal fees if you use an e-wallet to hold your assets.
Does FxPro Charge Other Fees?
No, beyond an inactivity fee, FxPro doesn’t charge any other non-trading fee.
FxPro Financing Rates
If you want to trade on margin and prefer to hold your positions long, you might experience some significant financing costs on FxPro. Below is a table that illustrates FxPro’s typical financing rates.
| Asset Class | Financing Rates |
|---|---|
Apple CFD |
2.9% |
Vodafone CFD |
2.8% |
EURUSD |
1.5% |
EURGBP |
1.5% |
FxPro Swap (pips)
When looking at FxPro’s fees, it’s also important to consider swap rates. This will allow you to see how much the platform will charge you for holding a trade open overnight. Keep in mind that FxPro automatically charges the swap at 21:59 (UK time) and converts it into the currency your account is denominated in.
Swap rates on FxPro (and any other forex and CFD broker) depend on the CFD asset group you’re trading. This is because swap rates for each asset group are calculated using a different formula. To determine swap fees on FxPro, you can use their calculator. You just need to enter your account currency and trade size.
As you can see in the table below, FxPro has relatively higher swap rates than its competitors, IC Markets and Exness. But make sure you continuously check swap fees, as they tend to change quite frequently.
| FxPro | IC Markets (Pro-Standard) | Exness | |
|---|---|---|---|
GBPUSD short |
- 3,547 |
-0,1 |
-0,459 |
GBPUSD long |
-1,1107 |
-0,41 |
-0,493 |
EURUSD short |
- 0,9251 |
0,19 |
-0,085 |
EURUSD long |
-4,7898 |
-0,76 |
-0,765 |
USDJPY short |
-3,7634 |
-0,8077 |
-0,748 |
USDJPY long |
-0,4747 |
0,0214 |
-0,272 |
FAQs
Is FxPro cheaper than other forex brokers?
No, FxPro has average spreads and fees when compared to its competitors. When looking at its spreads, commissions, swap fees, and financing rates, you may notice that the broker charges more than some of its competitors. So, if you’re looking for the cheapest forex and CFD broker, FxPro may not be the best choice.
How long do withdrawals take on FxPro?
The length of the withdrawal process on FxPro depends on the withdrawal method you choose. Card withdrawals can take up to seven business days, while international bank transfers can take between three to five days. Local and e-wallet transfers typically reflect within the same business day that you initiate the withdrawal.
Does FxPro have inactivity fees?
Yes, FxPro does apply an inactivity fee. The broker typically charges traders a $5 inactivity fee per month if a client’s account remains inactive for a period of six months. Like many brokers, FxPro charges these fees to gain back revenue lost from the lack of commission fees from your trading.
Can FxPro be trusted?
FxPro is one of the most respected forex brokers in the industry. The broker is well-regulated and has close to 900,000 clients in 173 countries. Beyond being regulated by major financial regulatory bodies like FCA, CySEC, FSCA, and SCB, FxPro also offers negative balance protection to safeguard clients’ accounts.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
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