FXPro Broker Review For Kenya In 2024

FXPro Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	CySEC, FCA, FSCA
💰 Minimum Deposit	$100 (40,000 Naira)
💳 Deposit Options	VISA, MasterCard, Bank Wire, AdvCash, Neteller, Skrill, GenialBanco, & more.
💳 Withdrawal Options	VISA, MasterCard, Bank Wire, AdvCash, Neteller, Skrill, GenialBanco, & more.
📌Open an account	Start Trading With FXPro

Disclaimer: Trading Contracts for Difference (CFDs) with FXPro carries a substantial level of risk and may not be suitable for all investors. Approximately 72.99% of retail investor accounts lose money when trading CFDs with this provider. It is crucial to fully understand the mechanics of CFDs, including the associated risks and potential rewards, before engaging in trading activities.

Our Opinion About FXPro

FXPro is an online forex broker. They are a regulated forex company and well-known for providing an excellent online trading experience. They offer a secure trading experience and a high level of forex trading support. They are also very well-respected by people working in the industry and they have won more than 50 forex awards in recognition of their excellent trading services.

FXPro has great trading accounts.  They give traders in Kenya access to all the top financial markets – including forex, stocks, and cryptocurrencies.  FXPro also offers traders in Kenya the opportunity to trade with low minimum deposits, low spreads, and zero commissions. These are great trading conditions for both new and experienced forex traders.

When it comes to technology. FXPro has some of the best trading tools on the market. They give you access to all the top forex trading platforms – including the MT4 and MT5 trading platforms. They also have many other helpful trading tools, chart indicators, calendars, and calculators to help you plan your trades. This means that, if you trade with FXPro, then you should have everything you need to start trading forex and become a successful forex trader.

Regulation  And Safety

FXPro is a regulated forex broker. They have secured licences from various reputable financial authorities. For example, FXPro UK Limited has been authorised and regulated by the FCA since 2010. The FxPro Financial Services Limited company has been authorised and regulated by CySEC since 2007, and by the FSCA since 2015. Also, FxPro Global Markets Limited has been authorised and regulated by the SCB for many years. This means that they operate under close supervision and abide by their international regulatory requirements.

Regulation in Kenya

Forex traders in Kenya can register under the FxPro Global Markets Ltd subsidiary, which is regulated by the SCB. As such, traders in Kenya can benefit from many important protections. For example, FXPro will ensure that your net equity never falls below 50 percent. They will also ensure that you benefit from negative balance protection. It’s important to note that the regulatory setup may differ for traders in other countries. For instance, Nigerian traders use the Saint Kitts and Nevis (KNN) entity.

Fund Safety

As a licensed forex broker, FXPro has robust client fund safety measures in place. They operate based on a segregated account policy. This means that they separate client funds from their own company funds and keep them in separate bank accounts. This ensures that FxPro can’t use client funds for company purposes. In addition, FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS) and FxPro Financial Services Limited is a member of the Investor Compensation Fund (ICF). This means that, if FXPro ever goes bankrupt, then some traders will also benefit from additional client fund protection. 

FXPro Forex Awards

FXPro has a great reputation and is a highly-regarded company in the forex industry. They won over 50 industry awards. They have won awards for best forex provider, awards for best forex broker, awards for the best forex trading tools, and awards for the best forex platforms. Its most recent awards include Best Broker 2021 UK (Ultimate Fintech Awards), Best Forex Provider 2021 (Online Personal Wealth Awards), and Best Trading Platform 2020 (Investors Chronicle & Financial Times).

FXPro: Legit Or Scam?

FXPro is a legit broker. They have been providing forex trading services for several years and are a well-known forex brand. They are also trusted by many traders worldwide and have a large, growing client base in Africa. They are licensed by some of the top regulatory authorities in the world and abide by all international regulatory guidelines. In addition, they offer great trading accounts, fair trading conditions, and reasonable trading costs. They also have convenient payment options and a good level of client fund protection. In our opinion, they are a reliable forex broker. 

FXPro Trading Assets

FXPro offers trading on several financial markets. They offer a great choice of  trading instruments, and there are plenty of products to choose from. You can trade 7 major asset classes including forex, shares, indices, futures, metals, energies, and cryptocurrencies. 

FXPro Trading Instruments

• Forex: There are plenty of currency pairs to choose from. They offer 70+ forex trading instruments including major, minor, and exotic forex pairs. 
• Shares: There are many shares to choose from too. They have over 1000+ CFD shares including major brands such as Meta, Twitter, Google, Tesla, and Apple. 
• Futures: They offer trading on a large range of Future CFDs including commodities, indices and energies. The leverage on futures is up to 1.:50
• Indices: They provide spot trading on a wide range of indices including the S&P500, the Nasdaq100, the FTSE100, and the Dow Jones 30. 
• Spot Metals: FXPro provides spot trading on many metals, including gold, silver, and platinum. They offer leverage up to 1:200 on gold and silver, and 1:50 on platinum.
• Spot Energies: FXPro offers spot trading on several different spot energies such as Brent and WTI. The maximum leverage is up to 1:100,
• Cryptocurrencies: FXPro provides trading on many different cryptocurrencies including Bitcoin, BitcoinCash, and BitcoinGold. The maximum leverage is up to 20:1.

FXPro Account Types

FXPro offers a range of account types to suit different trading styles and experience levels. Here are the main account types available:

Standard Account

The Standard Account is perfect for beginners. It features fixed spreads and no commission. This setup makes it easier to calculate costs. Traders can focus on learning without worrying about fluctuating spreads.

Pro Account

Pro Accounts suit more experienced traders. They offer variable spreads that can get tighter during high liquidity. There’s no commission, but spreads might widen in volatile markets. It’s a good middle ground between Standard and Raw+ accounts.

Raw + Account

Raw+ Accounts are for serious traders who want the lowest possible spreads. These accounts charge a commission but offer raw interbank spreads. It’s ideal for high-volume traders who can benefit from minimal price differences.

Elite Account

Elite Accounts are FXPro’s top-tier offering. They provide the best trading conditions, including ultra-low spreads and commissions. These accounts often come with additional perks like dedicated support. They’re designed for professional and institutional traders.

FXPro Leverage 

The maximum leverage available at FXPro is 1:200. However, FXPro operates based on a dynamic forex leverage model. This means your leverage varies for each trade depending on your trade volume. For example, as the volume per instrument increases, the maximum leverage starts to decrease. 

FXPro Spreads 

FXPro is one of the best forex brokers in Kenya when it comes to spreads. The MT4, MT5, and FxPro Edge accounts all have trading costs included in the spread. The minimum spread is therefore 1.4 for the MT4 account, 1.52 for the MT5 account, 1.41 for the Edge account. And there are no commissions. However, the cTrader Account gives you access to slightly better spreads. However, this is in exchange for a small trading commission. The minimum spread is therefore 0.31 for the cTrader account. 

FXPro Commission

FXPro is also one of the best forex brokers in Kenya when it comes to commission. The MT4, MT5, and FxPro Edge accounts have all of the trading costs included in the spread. This means you get zero commission trading on all of those accounts. However, the cTrader account offers lower spreads in exchange for a small commission fee. This means that on the cTrader account you pay a $9 commission per lot. 

FXPro Registration: How To Open An Account

As part of our FXPro broker review, we had a look at their online registration process. If you live in Kenya, then you can open an FXPro online trading account. The account registration process is quite straightforward and you can open an account very easily. The first step is to go to their website and fill in the form. This is so that FXPro can ask for your personal details and start creating your account. You also need to give them an email address and password. These will be your account login details.

The next step is to complete a short forex trading quiz. This is so that FXPro can find out what you know about forex trading and decide if their are suitable for you. If you pass the quiz, then you can continue with your account application. The final step is to complete the KYC (Know Your Customer) process, submit your documents, and select your account type. This is so that FXPro can complete all of their regulatory checks and approve your trading account. After that, you can add funds, using your chosen FXPro payment method, and start trading.

FXPro Registration: How To Verify An Account

As part of our FXPro broker review, we had a look at their online registration process. If you live in Kenya, then you can open an FXPro online trading account. The account registration process is quite straightforward and you can open an account very easily. Here’s a step-by-step guide:

1. Go to the FXPro website and fill in the registration form with your personal details.
2. Provide an email address and password. These will be your account login details.
3. Complete a short forex trading quiz. This is so that FXPro can assess your trading knowledge and determine if their services are suitable for you.
4. If you pass the quiz, you can proceed with your account application.
5. Complete the KYC (Know Your Customer) process by submitting the required documents.
6. Select your preferred account type.
7. Once FXPro completes their regulatory checks and approves your account, you can add funds using your chosen payment method and start trading.

FXPro Deposits

As part of our FXPro broker review, we checked which deposit methods FXPro accepts.. There are several different deposit options for FXPro, which is very convenient. They have zero deposit fees, which keeps costs down. They process transactions quite quickly, and this makes things easier when you’re opening an account.

Deposit Methods

There are a few different options when it comes to funding your FXPro account. Their deposit methods include  debit card, credit card, and bank wire transfer. Their other deposit options are PayPal, Neteller, Skrill, depending on where you live.

FXPro Minimum Deposit

FXPro is a reliable broker with low minimum deposits. The FXPro minimum deposit is $100 or the equivalent amount in other currencies. It is the same for all of their trading accounts. This means you can choose any trading account you want – depending on which trading platforms, spreads, and commissions are most convenient for you. 

Deposit Times – How Long Does It Take

FXPro is very quick when it comes to handling transactions. The average deposit time for deposits made via debit card and credit card is about 10 minutes. The standard time for PayPal, Neteller and Skrill is also 10 minutes. However, the FXPro deposit time for bank wire transfers may be slightly longer, depending on who you bank with.

FXPro Withdrawals

As part of our FXPro withdrawal review, we checked what payment methods are available. FXPro has good withdrawal methods, no withdrawal fees, and fast processing times. They are a good choice for traders who want quick, hassle-free withdrawals. 

Withdrawal Methods

FxPro offers several convenient withdrawal methods including debit card, credit card, and bank wire transfer. It also has a few other options for including PayPal, Neteller, Skrill, depending on where you live.

Withdrawal Times

FXPro is pretty quick when it comes to handling withdrawals. It takes around 10 minutes for them to process withdrawals to debit cards and credit cards. It also takes around 10 minutes for withdrawals for PayPal, Neteller and Skrill. However, the withdrawal time for bank wire transfers may be longer, depending on your bank.

Withdrawal Fees

FXPro is very good when it comes to non-trading fees. They do not usually charge fees for withdrawals. However, there are some circumstances in which they do ask you for extra charges. For example, if you withdraw your money without trading, then they will usually charge you a small fee.. Another example, if you withdraw your money via bank transfer, then there will usually be a bank fee too..

Maximum Withdrawal

The maximum FXPro withdrawal amount is $10,000. 

Trading Platforms

FXPro has a great range of trading platforms. You can choose between MetaTrader4, MetaTrader5, cTrader and the FXPro trading platform.

MetaTrader4 (MT4) is a good option for new forex traders in Kenya. It has a simple design and is easy to use. It also comes with many trading tools. You can use the MT4 platform to  access many markets including forex, crypto and stocks. It also has advanced charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. You can use it to carry out technical analysis and manage your trades.

MetaTrader5 (MT5) is also a nice option for new forex traders in Kenya. It has a simple setup and many built-in trading tools. As with MetaTrader4, you can use it to access all of your favourite markets. It also has a large range of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. You can use it to look for price trends and implement your trading plans. 

cTrader is a less well-known but equally powerful trading platform. cTrader comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. As such, it is a great trading platform that you can easily use to analyse the markets and implement your trades. FXPro also offers their own proprietary trading platform. It has a customisable layout and the choice of two design themes. It comes with access to 6 order types, 50+ technical indicators, and many helpful charting tools. As it is their proprietary trading platform, FxPro also ensures easy access across all devices.

Trading Tools

FXPro has plenty of free trading tools. With  their trading dashboard, you get a currency movers chart, a price ticker chart, and a client position chart.. You can also get a position volume chart, a price volatility chart, and an economic calendar. These tools will  help you to keep up with analyse  price movements, track economic data releases, and better manage our trades. With the trading calculator pages, you can find a free ‘all-in-one’ calculator. This helps you plan  trades based on the instrument, leverage, and position size.

FxPro VPS Services

FXPro provides a VPS (Virtual Private Server) service, which is particularly helpful for more experienced forex traders. Their FxPro Virtual Private Server lets you upload and run your MT4 Expert Advisors and cAlgo Robots 24/7. This means you can benefit from more uptime and better overall connectivity.
The FXPro VPS service is provided in partnership with BeeksFX, ensuring a good service and better overall trading experience. It’s important to note that the availability and pricing of this service may vary:

• The service is free for Premium Account holders.
• For non-Premium Account holders, it costs $30 per month.
• The VPS service may only be available to some traders, depending on their account type and trading volume.

Forex Education

As part of our FXPro review, we checked what educational resources they have to offer. They have some nice free online courses. The courses cover basic topics and trading terminology. They are a helpful resource for new traders  who need to improve their online trading skills. FXPro also has video tutorials  that teach you how to use their trading accounts. For example, how to register for an account, how to verify your profile, how to set up your trading platforms, and how to deposit funds.

FXPro Trading Hours

FXPro operates during standard market hours. You can open trades whenever the forex market is open. Trading hours may change slightly on public holidays.

FxPro Customer Support

FXPro has a great customer support team and excellent customer service. They have friendly, responsive staff who will help you with any questions you have about your account. They speak multiple languages and are available 24/5, Monday to Friday. You can reach them via email, phone and live chat.

Our Verdict

FXPro is a legit forex broker with an excellent reputation. In our opinion, they are one the top forex brokers in Kenya. This is because they give you access to good trading accounts, transparent pricing, and low trading costs. They also give you access to a large number of trading instruments, as well as some of the top online trading platforms. As such, they have some of the best trading conditions in the forex industry.

As a regulated company, they also offer safe payment options, good client fund protection, and a secure online trading environment. They also place a high value on forex education and trading support. They provide access to many great learning resources and trading tools. As such, they are a great option for forex traders in Kenya.

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