FxPro Singapore Review

FxPro Review in Singapore

FxPro is a globally recognized forex broker with a presence in Singapore. The company offers its services to both retail and institutional clients in the country, providing them with access to trade on the foreign exchange market. FxPro is known for its advanced trading platforms, competitive pricing, and excellent customer service. It provides a wide range of financial instruments, allowing traders to diversify their portfolios. In Singapore, FxPro operates under the regulation of the Monetary Authority of Singapore (MAS), ensuring a secure and transparent trading environment for its clients. We will learn more about the broker’s platform features, advantages, and more in this FxPro Singapore review.

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FxPro Account Types

• Standard Account: This account type offers a floating spread that starts from 1.2 pips. This means that the spread, or the difference between the buying and selling price, can change based on market conditions. The Standard account allows trading through MT4/MT5 platforms, which are popular and widely used trading platforms in the forex industry. They provide a variety of trading tools, including technical analysis tools, automated trading systems, and more. Additionally, the Standard account also offers micro lot trading. This means that traders can trade in smaller lot sizes, which is beneficial for those who prefer to manage risk by trading smaller amounts.
• Raw+ Account: The Raw+ account offers zero spreads. This means that traders do not have to pay the difference between the buying and selling price, which can potentially increase their profits. However, this account type does come with a low commission fee. Like the Standard account, the Raw+ account also allows trading through the MT4/MT5 platforms.
• Elite Account: The Elite account also offers zero spreads, just like the Raw+ account. It also comes with low commission fees. However, one unique feature of the Elite account is that it offers rebates of up to 21% of commissions. This means that traders can get back a portion of the commissions they pay, further enhancing their profitability. Like the other account types, the Elite account also supports trading through the MT4/MT5 platforms.

In conclusion, FxPro provides a variety of account types, each with its unique features, to cater to the different needs of traders. Whether you are a beginner or a seasoned trader, FxPro has an account type that can help you optimize your trading strategy.

FxPro Islamic Account

The FxPro Islamic account is a unique feature offered by FxPro in Singapore that caters to the needs of Muslim traders. This type of account adheres strictly to the principles of Islamic finance, which prohibits the earning or charging of interest, a concept known as ‘Riba’. The FxPro Islamic account is also known as a swap-free account as it does not have any swap or rollover charges on overnight positions, which is in compliance with the Sharia law. Users can trade a full range of instruments with this account, including forex, futures, spot indices, shares, spot metals, and spot energies. It is an ideal choice for Muslim traders who wish to ensure their trading activities align with their religious beliefs.

FInancial Assets Available at FxPro SIngapore

FxPro is a leading online broker that provides a wide variety of financial assets for trading. The following is an expansion of the financial assets available at FxPro in Singapore:

• Forex: FxPro allows you to trade a wide range of currency pairs from major, and minor to exotic pairs. This includes trading of currencies such as the US Dollar, Euro, British Pound, Japanese Yen, and many others.
• Shares: The broker offers a wide selection of shares from global markets. This includes shares from major corporations in different sectors such as technology, finance, manufacturing, etc.
• Energy: FxPro provides the option to trade in energy commodities like crude oil, natural gas, and others. These assets are typically traded as futures contracts.
• Crypto: This includes popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others.
• Indices: Indices are a popular choice for traders and FxPro offers a good selection of the world’s leading indices. These include the S&P 500, Dow Jones, NASDAQ, FTSE 100, DAX, and others.
• Futures: Futures trading is also available at FxPro. This includes futures contracts for a variety of assets such as commodities, currencies, and indices.
• Metals: FxPro offers the opportunity to trade in precious metals like gold, silver, platinum, and others. These can be traded both as spot contracts and futures contracts.

It’s important to note that trading in these assets involves risk and it’s recommended to have a good understanding of the markets and trading strategies before investing.

Different Trading Platforms

FxPro offers a variety of trading platforms to suit the diverse needs of its clients. Here is an expansion of the tools and platforms they offer:

• FxPro Mobile App: This is a convenient platform for those who prefer to trade on the go. The mobile app is available for both iOS and Android devices. It offers all the main functionalities of the desktop platforms, including order execution, charting, and technical analysis tools.
• MetaTrader 5 (FxPro MT5): This is one of the most popular trading platforms globally. MT5 is known for its advanced charting features, automatic trading capabilities, and a plethora of built-in indicators. FxPro MT5 also offers additional services such as market depth and a separate accounting of orders and trades.
• MetaTrader 4 (FxPro MT4): This is another widely used trading platform, especially popular among Forex traders. FxPro MT4 offers real-time quotes, a wide range of technical indicators, and the ability to execute multiple types of orders.
• cTrader: This is a powerful and user-friendly platform designed especially for Forex and CFD trading. cTrader offers fast order execution, level II pricing, and advanced order types. It also provides detailed back-testing functionality and customizable charting.
• FxPro WebTrader: This platform is ideal for traders who prefer to trade from their web browsers without needing to download and install any software. FxPro WebTrader offers a user-friendly interface, advanced charting tools, and a wide range of technical indicators. It also provides seamless integration with the MT4 and MT5 platforms.

FxPro Deposit Options Available in Singapore

• FxPro Wallet: This is a unique feature offered by FxPro where traders can fund their trading accounts using their FxPro Wallet. It helps to manage risk by keeping the money separate from trading funds until they decide to add it to their trading account. The Wallet is available for use in Singapore.
• Credit/Debit Card: FxPro accepts both credit and debit card deposits from Singapore. This is one of the most popular and convenient methods of payment as it allows for immediate transfer of funds.
• Bank Transfers: FxPro also accepts bank transfers from Singapore. This method may take a bit longer for funds to be available in the trading account, depending on the bank’s processing time. However, it is a secure method of transferring larger amounts of money.
• E-Wallets: E-wallets are another popular deposit option available in Singapore. FxPro supports multiple e-wallets such as PayPal, Skrill, Neteller, and more. These digital wallets offer an easy and fast way to deposit money into your FxPro account.
• Cryptocurrencies: For traders interested in digital currencies, FxPro allows deposit options via cryptocurrencies. This method of deposit is becoming increasingly popular due to its speed, security, and low transaction fees. However, it’s essential to note that cryptocurrency rates can be volatile, and this may affect the value of your deposit.

FxPro Withdrawal Methods

• FxPro Wallet: This is a unique feature provided by FxPro. It allows users to make secure transactions directly from their trading accounts. This method is beneficial as it allows you to manage your funds efficiently and reduces the risk of loss during volatile market conditions. The minimum withdrawal amount via FxPro Wallet is typically dependent on the currency of your account but is usually quite low to facilitate easy transactions.
• Credit/Debit Card: FxPro allows users to withdraw their funds directly to their credit or debit cards. This is a straightforward method and is usually preferred by many users due to its convenience. The minimum withdrawal amount through this method is generally around $100, although it may vary based on the policies of your card provider.
• Bank Transfers: Another common withdrawal method offered by FxPro is through direct bank transfers. This method allows users to transfer their funds directly to their bank accounts. The minimum withdrawal amount for bank transfers is typically higher than other methods, usually around $500.
• E-wallets: FxPro also supports withdrawals through various e-wallet services like PayPal, Neteller, and Skrill. These services are widely used due to their speed and convenience. The minimum withdrawal amount through e-wallets is usually quite low, typically around $10.
• Cryptocurrencies: For those who prefer to deal in digital currencies, FxPro offers withdrawals in cryptocurrencies. This method is particularly beneficial for those who engage in crypto trading. The minimum withdrawal amount in this method is dependent on the current value of the cryptocurrency.

It’s important to note that while FxPro does not charge any fees for withdrawals, your bank or e-wallet provider may impose charges. Therefore, it’s always a good idea to check with your provider before making a withdrawal. Also, the processing time for withdrawals can vary depending on the method chosen.

Trader Tools

FxPro Trader Tools is a collection of tools used by traders to analyze, predict, and manage trades. These tools include indicators, charts, economic calendars, and market news updates.

• Trader Calculators: These are calculators that traders use to calculate various trading parameters such as pips, leverage, margin, and other trading costs. These calculators are essential for determining the potential profits, losses, and risks in trading.
  
• Technical Analysis by Trading Central: This is a particular type of analysis done by Trading Central, a third-party provider of technical analysis. Technical analysis involves studying past market data, primarily price and volume, to predict future market trends. This analysis is crucial in making informed trading decisions.
  
• FxPro VPS: VPS stands for Virtual Private Server. FxPro VPS is a service provided by FxPro that allows traders to run automated algorithmic strategies 24/7 on a virtual machine. This ensures uninterrupted trading activities, even when the trader’s personal computer is off. The VPS service is particularly beneficial for traders who use Expert Advisors (EAs) for their trades.

FxPro Educational Materials

• Basics of Trading: This section offers a beginner’s guide to trading, covering basic concepts, terminologies, and strategies. It helps new traders understand the market dynamics, trading platforms, and different types of financial instruments such as forex, stocks, and commodities.
• Fundamental Analysis: This part teaches traders how to analyze economic indicators, news events, and other macroeconomic factors that influence the market. It includes lessons on interest rates, inflation, GDP, and employment data, among others.
• Technical Analysis: Here, traders will learn how to use charts, trends, and technical indicators to predict market movements. Topics include candlestick patterns, support, and resistance levels, moving averages, and other chart patterns.
• Trader’s Glossary: This is a comprehensive dictionary of trading terms and jargon. It defines and explains key terms such as bid price, ask price, spread, pips, leverage, margin, and stop-loss order.
• Trader Psychology: This section delves into the psychological aspects of trading. It discusses the importance of discipline, patience, risk management, and emotional control in successful trading. It also covers common psychological traps and how to overcome them.
• CME Group Education: This includes educational resources provided by the CME Group, a leading global marketplace for derivatives trading. These resources cover a wide range of topics, from basic trading concepts to advanced strategies and market analysis.
• Articles: This section features a collection of informative articles on various trading topics. These articles provide in-depth information and insights to help traders enhance their skills and knowledge. They cover a wide range of topics, from market trends and strategies to tips for successful trading.

Videos and Webinars

• FxPro Webinars: These are online seminars that are conducted by experienced forex traders and experts. The webinars cover a wide range of topics, including market analysis, trading strategies, risk management, and more. They are interactive, allowing participants to ask questions and get answers from the experts. These webinars are a great way for traders to learn from the experts and enhance their trading skills.
• Watch and Learn: This is a special feature of the webinars. Participants can watch the webinar live and learn from the experts in real-time. They can also interact with the experts and other participants, ask questions, and get immediate answers. This provides a more interactive and engaging learning experience for the traders. In addition, the webinars are also recorded and made available for later viewing, so that traders can watch them at their own convenience and pace.

FxPro Singapore Review – Conclusion

In conclusion, the FxPro Singapore review reveals that this platform is a reliable and reputable forex broker. It offers a broad range of financial instruments, competitive pricing, and advanced trading tools that cater to both novice and experienced traders. FxPro’s excellent customer service, user-friendly interface, and robust security measures further enhance its appeal. However, the platform’s high minimum deposit may be a potential barrier for some users. Overall, FxPro Singapore meets the expectations of a high-quality forex trading platform and is worth considering for those interested in forex trading.