XTB Vs FxPro

Category: Broker Guides | Author: Trading Brokers | Date: June 11, 2024

In the world of online trading, choosing the right platform is crucial for success. Two prominent names that often come up in discussions are XTB and FxPro. These two brokerage firms have built their reputation over the years and offer a range of services to cater to the needs of traders. From advanced trading tools to competitive pricing and reliable customer support, XTB and FxPro have their unique offerings that set them apart. In this article, we will delve into a detailed comparison of XTB and FxPro, examining their features, benefits, and drawbacks to help you make an informed decision.

Overview of XTB

XTB

XTB

XTB is a renowned online trading platform that has earned a reputation for its comprehensive offerings and user-friendly interface. With a focus on providing traders with a diverse range of financial instruments, including forex, indices, commodities, and cryptocurrencies, XTB ensures ample opportunities for investment. The platform’s advanced trading tools, such as the xStation and MetaTrader platforms, empower users with in-depth market analysis, real-time charts, and customizable trading strategies. Additionally, XTB’s commitment to client education is evident through its extensive educational resources, including webinars, tutorials, and market insights. With a strong regulatory framework and competitive pricing, XTB proves to be a reliable and feature-rich platform for both novice and experienced traders.


Pros of XTB

  • Advanced trading tools and features, such as charting tools and technical analysis indicators.
  • Multiple account types to suit different trading preferences.
  • Access to educational resources, webinars, and market analysis.
  • Excellent customer support with responsive service.

Cons of XTB

  • The platform may not be suitable for advanced traders seeking more complex trading strategies.
  • Limited range of cryptocurrency offerings.
  • Inactivity fees may be charged if an account remains inactive for a certain period of time.
  • No negative balance protection for retail clients.
XTB Logo

XTB offer superior execution on a reliable, award-winning platform, being one of the largest stock exchange-listed Forex and CFD brokers in the world - dedicated to helping you at every stage of your trading journey.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Overview of FxPro

FxPro

FxPro

FxPro is a prominent online trading platform that has earned a strong reputation among traders globally. Offering a comprehensive suite of trading tools and services, FxPro ensures a seamless trading experience. The platform provides access to a diverse range of financial instruments, including forex, commodities, indices, and shares. With multiple account types available, such as MT4, MT5, and cTrader accounts, traders have flexibility in choosing a suitable trading environment. FxPro stands out for its competitive spreads, deep liquidity, and fast execution speeds, enabling traders to capitalize on market opportunities. The platform also offers advanced trading tools, educational resources, and dedicated customer support to assist traders at every stage of their journey.

Pros of FxPro

  • Multiple account types to cater to different trading preferences.
  • Competitive spreads and deep liquidity for favorable trading conditions.
  • Fast execution speeds for timely trade execution.
  • Advanced trading tools and charting capabilities for in-depth analysis.

Cons of FxPro

  • Limited availability of certain exotic financial instruments.
  • Inactivity fee for dormant accounts.
  • Withdrawal fees for some payment methods.
  • Minimum deposit requirement for opening an account.
FxPro Logo

FxPro is a regulated online broker that offers hundreds of tradable assets on multiple sophisticated platforms; cTrader, MetaTrader and FxPro Edge. They also offer trading tools, third-party analysis and trader education. However, the spreads and fees are not the lowest.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Comparison between XTB and FxPro

When it comes to online trading, selecting the right brokerage platform is essential for achieving your financial goals. Let’s delve into the details of XTB and FxPro to help you navigate the trading landscape effectively.

Regulation

XTB is extensively regulated by reputable authorities in the European Union, including the UK’s FCA and Cyprus’ CySEC. XTB also holds licenses from IFSC of Belize, FSCA of South Africa, and DFSA of the UAE. FxPro is regulated by the UK’s FCA, Cyprus’ CySEC, Bahamas’ SCB, and South Africa’s FSCA. Both brokers provide negative balance protection and segregated client funds. Notably, XTB’s status as a publicly traded company audited by PwC adds an extra layer of credibility.

Trading platforms

XTB provides xStation 5 and MT4. xStation 5 is web and mobile-based with advanced tools, charting, news, and analysis. MT4 is a popular platform with automated trading. FxPro offers MT4, MT5, cTrader, and FxPro Edge. These platforms offer a range of features, including automated trading, advanced charting, and algorithmic trading capabilities.

Pricing and fees

XTB has four account types: Standard, Pro, Islamic, and Professional. The Standard account has no commission but higher spreads, while the Pro account charges a commission of $4 per lot round turn but lower spreads. The Islamic account is similar to the Standard account but with no swap fees for overnight positions. The Professional account is for experienced traders who can access higher leverage but lose some regulatory protections.

FxPro has three account types: MT4 Instant Execution, MT4 Market Execution, and cTrader. The MT4 Instant Execution account has no commission but higher spreads and a fixed spread option. The MT4 Market Execution account charges a commission of $4.5 per lot round turn but lower spreads and no requotes. The cTrader account charges a commission of $45 per million traded but lower spreads and full market depth.

Both brokers also charge non-trading fees such as withdrawal fees, conversion fees, and inactivity fees. XTB charges a withdrawal fee of $20 for bank transfers below $200 and a conversion fee of 0.5% for transactions in a different currency than the base currency of the account1. FxPro charges a withdrawal fee of $25 for bank transfers below $100 and a conversion fee of 0.3% for transactions in a different currency than the base currency of the account. Both brokers charge an inactivity fee after six months of no trading activity: XTB charges $10 per month while FxPro charges $15 per month

Broker Type

XTB is a hybrid broker, utilizing market maker and STP models. They internalize some trades while passing others to liquidity providers. This allows for a wide range of instruments and competitive pricing. FxPro acts as an agency broker, directly routing trades to the market. This ensures transparency in pricing and execution without intervention or manipulation.


Leverage

XTB offers leverage up to 1:30 for retail clients and up to 1:200 for professional clients. Leverage is instrument and location-dependent, with fixed ratios. FxPro provides leverage up to 1:30 for retail clients in Europe, up to 1:500 for retail clients in other regions, and up to 1:200 for professional clients. Leverage is flexible and can be adjusted within the platform.

Asset selection

XTB offers an extensive selection of over 2200 instruments across various asset classes. Traders can access forex, stocks, indices, commodities, cryptocurrencies, ETFs, volatility index, synthetic stocks, CFDs on options, CFDs on futures, CFDs on sectors, CFDs on ETFs, CFDs on bonds, and CFDs on blends. In comparison, FxPro offers more than 2000 instruments covering forex, stocks, indices, commodities, cryptocurrencies, metals, and energies.

Social Trading

XTB’s Trading Academy program offers social trading features. Traders can learn from mentors, participate in live sessions, attend webinars, access tutorials, read articles, and receive trading signals. FxPro incorporates social trading through ZuluTrade and FxPro Direct App.

Minimum Deposit

XTB does not have a minimum deposit requirement for any account type or payment method. However, the broker recommends a minimum deposit of $500 to start trading. FxPro has different minimum deposit requirements based on account types and platforms. The MT4 Instant Execution account requires a minimum deposit of $100, the MT4 Market Execution account requires $500, the MT5 Market Execution account requires $500, and the cTrader Market Execution account requires a minimum deposit of $1000.

Withdrawal and Deposit Methods

XTB supports various methods like cards, bank transfers, e-wallets, and local payment methods. Deposits and withdrawals above $100 have no fees, but withdrawals below $100 incur a $20 fee. FxPro supports cards, bank transfers, e-wallets, and local payment methods. They do not charge fees for deposits or withdrawals, but payment providers may have their own fees.


Which is More Suitable for You

If you’re a trader looking to choose between XTB and FxPro, there are key factors to consider. Both brokers offer a variety of trading platforms to suit different preferences. XTB provides xStation 5 and MT4, while FxPro offers MT4, MT5, cTrader, and FxPro Edge. Additionally, it’s important to assess the available instruments and asset classes. XTB provides access to over 2200 instruments, including forex, stocks, indices, commodities, and cryptocurrencies. FxPro offers over 2000 instruments covering forex, stocks, indices, commodities, cryptocurrencies, metals, and energies. Take into account your desired leverage options, as well as account types and associated pricing structures. Evaluating these factors in line with your trading needs and goals will help you make an informed decision between XTB and FxPro.

Conclusion

In conclusion, when it comes to choosing between XTB and FxPro, both platforms offer solid options for online trading. XTB impresses with its intuitive interface and comprehensive educational resources, while FxPro stands out with its competitive spreads and advanced trading tools. Ultimately, the decision boils down to individual preferences, trading goals, and preferred features. So, whether you’re a beginner looking for educational support or an experienced trader seeking advanced tools, both XTB and FxPro have something to offer. Take your time, compare the features, and select the platform that aligns best with your trading style and objectives.


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