Is FxPro Legal in India? Is it Safe?
Reliability is the key criterion for choosing any broker. If you have doubts about the reliability of a company, it is not recommended to work with it. Traders from India often ask “Is FxPro safe? Does the company operate legally in the territory of the country, can it be trusted?" Traders Union analysts have prepared a detailed analysis, where we will see whether FxPro is legal in India and whether you can work with this broker.
Short summary about the broker FxPro
FxPro is a well-established broker offering traders access to over 2,100 financial instruments across multiple asset classes, including Forex, stocks, commodities, indices, and cryptocurrencies. It is regulated by reputable authorities – FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average order execution speed of 14-30 ms, setting a market benchmark. FxPro also provides an impressive suite of trading tools and educational resources, such as Trading Central analytics. The minimum deposit of $100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of reliability, FxPro stands out as a top-tier choice for traders looking for a secure and dynamic trading environment.
| 💰 Account currency: | USD, EUR, GBP, CHF, AUD, PLN, ZAR and JPY |
| 🚀 Minimum deposit: | 100 (USD, EUR, GBP, CHF) |
| ⚖️ Leverage: | Up to 1:500 subject to the jurisdiction. For example, maximum leverage for certain jurisdictions is up to 1:30 for currency pairs. |
| 💱 Spread: | from 0.0 pips |
| 🔧 Instruments: | Over 2,100 assets are available: currencies, stocks, indices, futures, metals, energies, and cryptocurrencies. |
| 💹 Margin Call / Stop Out: | 25/20 |
Pros and cons of FxPro
👍 Advantages of trading with FxPro:
•Negative Balance Protection with automated risk monitoring;
•Client funds insured via investor compensation fund;
•Access to tested advisors for beginners;
•Full service package regardless of account balance;
•VIP accounts include personal manager and free VPS;
•Company capital exceeds €100 million;
•Swap-free (Islamic) accounts available;
•Strong educational and research support for reliable trading.
👎 Disadvantages of FxPro:
•$100 minimum deposit may be high for beginners;
•Complicated affiliate program registration process.
What information should a broker disclose?
Only the broker that discloses all legal information can be considered reliable. You need to take notice of this factor when choosing the company.
The official website of the broker should contain the following information:
-
The name of the legal entity.
-
Country of registration.
-
Number of the registration certificate.
-
Legal address, factual addresses of the offices of the broker.
-
License to conduct financial activity.
The information must be published either in a special section on the website of the broker or in the disclaimer. Make sure to check it.
The official website of the broker must also provide internal regulatory documents. Before you start working with a company, review Terms of Use, Privacy Policy, Disclaimer, Risks Notice, and other documents.
Broker regulation
FCA
The FCA (Financial Conduct Authority) is the financial regulator of the UK. It is a non-government body that operates in cooperation with the Bank of English and the HM Treasury. The mission of the FCA is to regulate the operation of financial and investment companies, including Forex brokers.
A broker with the FCA license is fully legal in the UK. The document issued by this regulator is highly regarded also outside the UK. Also, the companies with licenses issued in other jurisdictions can operate in the UK.
CYSEC
The Cyprus Securities and Exchange Commission (CySec) is the financial regulator authority of Cyprus. The regulator has the power to audit companies and issue licenses to conduct financial activities in the territory of the country.
Cyprus is an EU member and therefore the CySec license also allows companies to operate in the entire territory of the EU. Furthermore, the document issued by the regulator is considered reliable beyond the borders of the EU countries.
FSCA
The Financial Sector Conduct Authority is the financial regulatory body of the Republic of South Africa. The regulator supervises the operation of financial organizations operating in South Africa and also issues licenses for such companies. FSCA also licenses Forex brokers.
FSCA licenses are issued not only for brokers that focus their operation in the RSA and in Africa. Companies that offer services in other regions of the world also operate under the licenses of the organization. Brokers that hold the license of this regulator can be considered reliable.
SCB
The Securities Commission of The Bahamas is an independent regulatory body of The Bahamas subordinated to the Ministry of Finance. The regulator supervises the securities market, investments, all exchange and non-exchange markets, including Forex. Obtaining a SCB license is mandatory for operating in The Bahamas.
SCB licenses are rather popular among Forex brokers, as the regulator has minimum requirements. The SCB has signs of an offshore regulator. However, a license of this regulator does not mean that a broker is unreliable. Before you start working with a company that operates on the SCB license, we recommend that you read the company review and user feedback about the company.
Is FxPro legal in India? Broker’s license
Security (Protection for Investors)
Information
The activities of the FxPro broker company are regulated by four financial services commissions: FCA (United Kingdom), CySEC (Cyprus), FSCA (South Africa), SCB (The Bahamas).
Security guarantees from FxPro:
1. FxPro’s partners providing constant liquidity are over 12 investment banks.
2. Clients’ funds are held in segregated accounts in Barclays, Citibank, and RBS banks.
The broker’s external auditor is PwC.
These regulators impose the most stringent requirements on the activities of companies, which therefore ensures the broker's responsible performance of their services and tasks.
👍 Advantages
- Segregated accounts, in accordance with all requirements of the regulator
- Protecting the trader's capital from a negative balance
- Providing support in controversial matters involving an independent judge
👎 Disadvantages
- The regulator does not consider the claims of private traders with minor amounts
Brokers that are similar to FxPro
In addition to license and reliability, you also need to take notice of the trading conditions of brokers. This is important both for beginners and experienced traders, as the demands of the clients with different experience differ. Traders Union analysts have prepared a comparison table of FxPro with similar brokers.
Comparison of FxPro with other Brokers
| FxPro | IUX | XM | Pepperstone | Bybit | Plus500 | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, MobileTrading, MT5, cTrader, FxPro Edge |
MetaTrader5, IUX Trade App, IUX WebTerminal |
MT4, MT5, MobileTrading, XM App |
MT4, MobileTrading, WebTrader, cTrader, MT5, TradingView |
MetaTrader5 |
Mobile, Web, Desktop |
Min deposit |
$100 |
$10 |
$5 |
$1 |
No |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:2 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 0 points |
From 0.5 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
$30 |
No |
No |
No |
Cent accounts |
No |
No |
No |
No |
No |
No |
A multi-regulated Forex and CFD broker offering access to more than 2,100 instruments, including currencies, stocks, indices, commodities, and cryptocurrencies. Platforms include MT4, MT5, and cTrader, as well as mobile trading through FxPro Direct. The broker provides tight spreads and ultra-fast no dealing desk (NDD) execution (less than 11 ms). Traders have access to a knowledge base, analysis tools from Trading Central and Autochartist, and PAMM accounts for passive income.
A global Forex broker regulated by CySEC and other financial authorities. Provides access to more than 1,000 instruments, including currency pairs, stocks, commodities, indices, and cryptocurrencies. Trades are executed on MetaTrader 4 and 5 platforms with fast execution speeds, tight spreads, leverage up to 1:1000, and negative balance protection. The broker also offers copy trading, educational webinars, Trading Central tools, an economic calendar, and a demo account.
A broker licensed by ASIC, FCA, CySEC, and BaFin, offering access to 1,200+ instruments including Forex, indices, commodities, metals, stocks, ETFs, and cryptocurrencies. Trading is available through MetaTrader 4, MetaTrader 5, cTrader, TradingView, and a proprietary platform. Features include algorithmic trading, copy trading, VPS hosting, a demo account, educational webinars, and analytics. The minimum deposit starts from $1. Negative balance protection and 24/7 support are included.
Bybit offers Forex trading via the MetaTrader 5 platform with access to currency pairs, metals, indices, and commodities. Accounts are denominated in USDT, with leverage up to 1:500 and a minimum order of 0.01 lot. Advisors, hedging, and a demo account are supported. Trading follows an ECN model with no hidden fees. Commissions are fixed from $3 to $6 per lot, and spreads start from 0.0 pips.
An online platform for trading CFDs on Forex, stocks, indices, commodities, cryptocurrencies, options, and futures. The WebTrader interface and mobile app support more than 100 indicators, chart-based trading, market and pending orders, negative balance protection (Negative Balance Protection is a regulatory requirement, not a feature specific to Plus500), and guaranteed stop-losses. A free demo account is available without restrictions, along with 24/7 support and commission-free deposits and withdrawals. The platform is regulated by the FCA, CySEC, ASIC, and other authorities.
Conclusions
Traders Union showed that FxPro is indeed very reliable and legal in India. The company holds all necessary licenses to conduct financial activity; it complies with all key requirements of the regulator. Legality of the broker’s operation in the country is one of the key criteria for choosing the company for trading. It is important to take this into consideration, as well as the trading conditions. In this case, we can say that the broker meets all the reliability requirements.
FAQ
Can I work with a broker who does not hold the license?
Trading with a broker without the license involves high risks. The license guarantees that the company performs its obligations. Working with a broker without the license creates a risk of manipulations with quotes, failure to pay, and other schemes.
Where can I complain if a broker with a license violated its obligations?
If a broker allows a violation of the conditions, you can appeal to the authority that issued the license and to the court.
How do I choose the best broker in India for beginners?
Novice traders need to consider the brokers with licenses issued in India or other European Union countries, availability of a demo account or cent account, the level of commissions and fees and minimum deposit, as well as educational materials.
Related Articles
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.
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.
