FxPro vs FXCM

Looking for a new Forex broker, either as a second option or for your first foray into the world of Forex trading? You’ve come to the right place! This broker comparison will take a deeper look at two heavyweights – FxPro and FXCM. FxPro, regulated by the FCA out of the UK, is home to over 1,300,000 traders and remains the market leader in no dealing desk (NDD) trading. FXCM is currently based in the United Kingdom after being based in the United States for many years before leaving that market. It is now in a rebranding phase as Leucadia company owned by Jefferies Financial Group Inc., listed on the NYSE under ticker symbol JEF.

This comparison will focus on the following four aspects plus an ultimate verdict:

Feature FxPro (visit site) FXCM (visit site)
Headquarter: UK UK
Regulation:
FCA, CySEC, FSCA, DFSA and SCB FCA
Type of Broker:
NDD Market Maker
U.S. Clients Allowed:
Minimum Deposit:
£500 or a currency equivalent £50 or a currency equivalent
Maximum Leverage:
1:500 1:30
Commissions / Spreads:
Spreads, commissions Spreads
Account 1:
CFD Trading CFD Trading
Account 2:
Spread Betting Spread Betting
Demo Account:
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages:
  • English
  • Spanish
  • 27+
  • English
Support Hours:
24/5 24/5
E-mail Support:
SMS Support:
Chat:
Broker Offers:

Features and Platforms

FxPro

As the market leader in NDD trading, the cTrader platform is at the core FxPro’s operations. It enables a superior trading environment, as an out-of-the-box solution, over the MT4/MT5 trading platforms, which are also provided by FxPro. Unfortunately, no third-party plugins are offered by this broker. Enhancing support for automated trading solutions comes in the form of VPS hosting, but the cost of $30 per month is on the high side.

New traders have access to an excellent educational platform, with an entire section dedicated to trading psychology. The well-designed educational course features video tutorials and trading tests, creating an outstanding service. FxPro grants its traders a comprehensive analytical suite through a partnership with Trading Central but also publishes in-house market news. The combination of services continually reduces the failure rate of traders, which is currently reported at 75.56%.

FxPro established itself as a primary broker in the ultra-competitive sector.

FxPro Homepage

FXCM

FXCM traders have great choices when it comes to trading platforms. FXCM offers the retail favorite MT4, the independent NinjaTrader, and its proprietary Trading Station. While automated trading is fully supported across all trading platforms, this broker focuses on its Trading Station and like FxPro, does not provide any necessary third-party plugins for the MT4 trading platform. Social trading is possible through ZuluTrade, a market leader in this sector. FXCM provides a suite of tools for algorithmic trading solutions, which adds to the appeal of this brokerage.

FXCM Plus is a prime service provided to all clients and consists of trading signals, a trading analyzer, and trading analytics. An educational course is available for new traders, and FXCM publishes a great selection of written content covering financial markets and trading-related topics. The overall auxiliary trading services provided by this broker remain exceptional, supported by the failure rate of traders of 69.66%.

FXCM provides a truly superb trading environment to traders.

FXCM

Feature FxPro FXCM
Type of Platform: MT4, MT5, cTrader MT4, Trading Station, NinjaTrader, ZuluTrade
Platform Languages:
  • English
  • English
OS Compatibility:
  • Windows
  • Mobile
  • Web
  • Windows
  • Mobile
  • Web
Trading Signals:
Charting Package:
Market Analysis:
Chart Trading:
Automated Trading:
Scalping:
Hedging:
Mobile Alerts:
Trailing Stops:
Guaranteed Stop Loss:
One-click Execution:
Interest on Margin:
Web-based Trading:
Mobile Trading:

Available Markets

FxPro focuses on the Forex market, where it offers over 70 currency pairs. Futures and spot indices are acceptable, but equity CFDs merely consist of major names. Regrettably, metals and energies are reduced to the minimum. FXCM provides only 39 currency pairs and falls well behind FxPro in this category. Commodity trading remains equally limited, but five cryptocurrency pairs are available. Equity trading is missing, and while both brokers are somewhat limited when it comes to asset selection, FxPro grants a better choice for cross-asset diversification. That being said, few traders really need more than a handful of tradable assets, so it’s highly possible that both of these brokers will offer what you are looking for.

Feature FxPro FXCM
ETFs:
CFDs:
Commodities:
Metals:
Stocks:
Oil:
Gold:
Binary Options:
Indices:
Cryptocurrencies:

Typical Spreads and Fees

FxPro deploys the NDD execution model, while FXCM remains a market maker. Spreads in the FxPro MT4 account start at 1.4 pips, which remains unacceptably high. Traders have access to raw spreads as low as 0.0 pips, but the commission of $45 per $1,000,000 is elevated. FXCM spreads are superior and start at 0.6 pips commission-free, and are lowered to 0.2 pips for a commission of $25 per $1,000,000. Forex traders will find a more competitive pricing environment at FXCM.

Both brokers charge swap rates on leveraged overnight positions. The precise amount for each asset may be retrieved from inside the trading platforms. Equity and index CFDs are subject to corporate actions, which are debited or credited from the trader’s account. While deposit and withdrawal fees are waived, third-party charges apply. FXCM levies a £50 inactivity fee, but the overall cost structure is lower as compare to FxPro.

FxPro deploys an NDD model, but trading costs remain elevated.

FxPro NDD model

FXCM is a market maker but provides excellent execution and a far superior trading environment.

FXCM pricing

Security and Trust

FxPro UK LTD is authorized and regulated by the Financial Conduct Authority. Client funds remain segregated, and traders are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. This is the primary regulator for this brokerage, but it maintains entities regulated by the Cyprus Securities and Exchange Commission, the South African Financial Sector Conduct Authority, the Dubai Financial Services Authority, and the Securities Commission of The Bahamas. FxPro has a spotless record and remains one of the most trusted Forex brokers in the industry.

FXCM is also primarily under the regulatory framework of the FCA, with additional regulation by the Autorité des Marchés Financiers (AMF) in France, the Australian Securities and Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) in South Africa. Since FXCM emerged from bankruptcy in 2017, it has a clean regulatory record.

FxPro remains one of the most trusted brokers active today, with a spotless record.

FxPro regulation

FXCM has a troubled past but has worked diligently to rebuild its reputation for honesty and reliability. Since it emerged from bankruptcy in 2017 and under new management, it has also maintained a clean record.

FXCM regulation

FXPro versus FXCM – Verdict

FxPro is a solid broker choice, as evident by its 1,300,000 traders. This broker is a market leader in NDD trading, and one of the most trusted ones in the industry. Transparency is outstanding, asset selection acceptable, but the pricing environment remains elevated. That being said, FXCM offers several competitive advantages that give this broker a significant edge. While fewer assets are available, trading costs are significantly lower. This broker’s auxiliary trading services are as exceptional as its support for automated trading solutions. The outlook for FXCM is brighter, and this broker has great untapped potential. Considering the cost-effective trading environment, it provides a better overall choice and FXCM edges out FxPro as a better option in this Forex broker comparison.

Read full FxPro Review
Read full FXCM Review