Besides the strict trading rules and regulations of FxPro brokers, it is also important to know the status of the company. Being regulated by the CFTC and CySEC, the company is legit and is subject to regular performance checks. In addition, the funds of clients are safeguarded by segregated accounts in European investment-grade banks. If the FxPro company goes bankrupt, the funds of traders are reimbursed. Traders can also use negative balance protection if the balance is below zero.
Customer Service Of FxPro Broker
Customer service is rated five stars and has received numerous awards. It also has multilingual support staff and offers support for trading in multiple languages. You can access the FAQ section for most questions, while live chat and email support are available around the clock.
While the number of regulatory bodies doesn’t mean the reliability of a forex broker, a broker that has one or two is best regarded. A broker with one or two top-level regulations is reliable and safe. By contrast, a broker with several regulations cannot protect a Thai trader. A broker with a single top-level regulation is sufficient for a reliable forex broker. The more regulatory bodies a company has, the more limitations it has.
The number of forex trading regulations is a significant indicator of a broker’s legitimacy. One top-level regulator is enough to ensure the credibility of the company. It also helps to know about the reputation of other brokers. While the reputation of an organization is essential, the number of regulators can be a sign of a broker’s unreliability. In the case of FxPro review, the company has been accused of misleading marketing practices and suppressing negative reviews.
Regulations Of FxPro Broker
rThe number of regulatory bodies does not mean the legitimacy of a forex broker. It is more important to look for a broker with a high number of top-level regulatory bodies. Nevertheless, one should remember that regulations are not always helpful in determining the credibility of a forex company. In some cases, they may actually hinder the trading process and cause more losses. For this reason, the number of regulations can be quite confusing.
The FxPro broker offers a demo account to its clients. The demo account is a free service provided by the company. In the event that you have a question or want to learn more about the company, it is best to contact the broker. Despite all the positive features of FxPro’s trading rules, its reputation has been tarnished due to alleged misleading marketing practices. Therefore, it is best to read the rules and regulations of FxPro first before investing any money.
The Bottom Lines
Besides being regulated by CySEC, FxPro has a solid reputation for offering five-star customer service. Its multilingual team responds to clients’ questions and issues via toll-free numbers in some countries. Its London-based office is open from 7:30 to 4:30 p.m. In addition, FxPro has some social media support on Twitter, but it is mostly for news and information.
If you are unsure about the trading rules and regulations of FxPro, there is a FAQ section to answer your questions. The company also has a dedicated blog to answer common questions. Moreover, it provides daily market updates, which can be useful to you. However, you should check the information you receive from the company before you trade.