FxPro Platform Walkthrough
Voted 'Best FX Broker' in 2016 and again in 2017, FxPro is a leading online trading house and is the official main sponsor of the premier leagues' Watford Football Club. With offices in the UK and Cyprus, FxPro has evolved over the past ten years from a simple online broker specializing in currency trading, to diversifying its CFD offering with the addition of five new asset classes: UK equity shares, spot indices, futures, spot metals, spot energies commodities and global shares. Today, FxPro remains focused on providing clients with professional trading conditions, advocating the adoption of fair and transparent trading practices across the industry.
FxPro supports multiple trading platforms that offer low spreads and competitive pricing. Every trade has its set of tools and so FxPro invests heavily to ensure that its customers are well-equipped with quality educational material, insightful market commentary, powerful technical analysis, and a suite of algorithmic trading facilities and services.
In this review, we will look at FxPro's cTrader app.
FxPro Homepage - FxPro is a popular online platform for trading currencies, especially in the U.K.
Login Screen - From the login screen, enter your username and password to sign on or register to open a new account. If you’re just testing the waters, try opening a demo account instead.
Portfolio & Account Management
My Account - Home - Once you’ve logged into FxPro, you’ll be taken to the My Accounts dashboard. Here you’ll see a snapshot of your current account balances and find links to transfer funds and update your profile. Importantly, this is where you’ll need to go first to download FxPro’s software platforms: cTrader and MetaTrader 4 (MT4). You can have numerous accounts with FxPro for different trading strategies and for different currencies. You can also open multiple demo and real accounts so that you can test out strategies with the demo version before putting them into practice.
My Accounts - Open Trading Account - In order to fund your account and begin trading, you need to open a trading account. Click on the green Open Trading Account link to fill in the form to get going.
My Accounts - Language Settings - FxPro knows that currency trading attracts people from all over the globe. If your native language isn’t English, click on the flag icon on the top right of the page to choose your language of choice – from French and Spanish to Hungarian and Thai.
My Accounts - My Profile - If you need to update your profile, click on My Profile to change your address and other personal information as well as your password. In order to access many trading functions, you’ll also need to verify your identity with FxPro. Click the Profile Verification tab to provide your credentials. From this page you can also subscribe to daily market newsletters and set up price alerts. You can also load up profile options by hovering over your account name on the top left corner of the screen.
My Accounts - Deposit Funds - When you’re ready to fund your account, click on Deposit Funds on the menu to the left. FxPro has many funding options, from bank transfer and credit cards to PayPal and other more regional online money transfer agents. Click on the appropriate button to fund your account. You can also get to the deposit funds menu by clicking on the Deposit Options menu bar on the bottom of the My Accounts dashboard, or the Quick Deposit button found on the top right of the page.
My Accounts - FxPro Vault - When you’ve opened your account and funded it, you can take advantage of the FxPro Vault. The vault lets you easily manage your fund transfers to multiple FxPro accounts and reallocate capital among them. Click on the Create FxPro Vault button on the left to get started.
My Accounts - Help - If you need help with your account or profile at any point, you can click on one of the three help options located on the right-hand side of the page. Live Chat opens a window to talk with a support agent. Live chat support is available only Monday through Friday, but you can leave a message on the weekend and somebody will get back to you. You can also leave Feedback or arrange to Get a Call from someone who will contact you by phone.
Education & Resources
Tools - FxPro Dashboard - FxPro is primarily a currencies trading platform, and it has a range of powerful tools for both the novice and advanced FX trader. Click the Tools tab next to My Accounts to bring these up. The first tool you’ll see is the FxPro Dashboard – this provides a quick snapshot of recent FX activity among the most commonly traded currencies. You can change the base currency by clicking on the dropdown menu under currency movers (in red).
Tools - FxPro Quant - Sophisticated traders will want to check out the FxPro Quant tool. Clicking on this link opens a new window for FxPro Quant, billed as “a revolution in algorithmic trading.” It is a visual strategy builder that allows you to program your own trading algorithms for the MT4 and cTrader platforms. You can basically create trading bots that trade according to your own rules. Build your custom algos using a number of metrics, indicators, data points and math and logic operators. Save your strategy with the Save button on the top menu bar. Use the Build menu option to create the appropriate script to download and run on FxPro’s desktop trading software. If you need help with the Quant tool at any point, click on Help ("?") on the top menu bar to go to a page with FAQs, instructional videos and other online support.
Tools - FxPro Quant - Preloaded Algos - If you don’t have the time or interest to build your own algorithmic trading tools, you can choose from among FxPro’s pre-built bots. Click Open on the top menu bar and then choose the Examples tab on the menu that appears on the left-hand side. Click on any one of these examples to visualize how the algorithm works and tinker with the settings and tolerances.
Tools - Economic Calendar - Economic and geopolitical events drive FX markets. Click on the Economic calendar link from the Tools menu to get an overview. Find out about all the economic reports due to be released, their previous results, consensus forecasts and the volatility likely to be generated. Also included are national holidays when local markets will be closed. You can change your timeframe or filter events from the tabs along the top.
Tools - FxPro Blog - For up-to-date and relevant market outlooks and insightful commentaries to help you keep track of the latest market changes, check out the FxPro Blog under the Tools menu.
Tools - FxPro Squawk - When you want up-to-the-minute headlines, check out the FxPro Squawk tool. The FxPro Squawk is brought to you by Talking-Forex and provides real-time audio news commentary and a scrolling news feed for the FX markets. To assist with your trading, you can hear breaking news, economic releases, rumors and flow as they happen. There are two feeds, one for the E.U. and U.S. trading session (6.30 a.m. to 9.30 p.m. U.K. time) and one for the Asian trading session. The FxPro Squawk also provides daily in-house daily research, technical analysis of the major currency pairs and FX video updates from Talking-Forex.
cTrader Web - FxPro has two main web trading platforms: FxPro and cTrader. To open cTrader, find the Quick launch links heading on the lower left and click Launch Web. cTrader lets you trade many global assets, from currency pairs to commodities to stocks. If you get overwhelmed by all these options, you can filter or search for the asset you want. cTrader also has advanced charting tools that can be applied to the charts on the right. If you need help at any point, refer to the Help menu along the top tool bar.
cTrader Web - QuickLink Toolbar - If you prefer things quick and easy, cTrader web has a QuickLinks toolbar on the right of the top menu bar with a row of icons where you can easily enter trades, change settings, alter the layout and more.
cTrader Web - Order Ticker - Although you can trade directly from the asset menu by clicking on an asset, you may find that you need to enter a more sophisticated order. Click on the small icon that looks like piece of paper on the top right corner of the product menu, also located up along the top menu bar ("New Order"), or under the FxPro cTrader dropdown menu on the upper left corner. You can also use the keyboard shortcut F9. This will open a more advanced order ticket where you can enter limit orders, stops, tailing stops and more. You can also refer to the accompanying chart that appears to the right in the order box to set your limit and stop levels visually.
cTrader Web - Orders Window - Your open orders will appear in the Orders tab in the box below the charts. Here you’ll be able to see your order status and change or cancel orders before they’re filled.
cTrader Web - Positions Windows - After you’ve executed orders, your positions will appear in the Positions tab in the box below the charts. You can make changes to your positions or close them out quickly from this tab. To view a log of your trade history, click on the History tab.
cTrader Web - Charts - Are you a fan of technical analysis? cTrader web has a number of sophisticated charting tools for you to play with. Click on the Tools menu option along the top menu bar to see a list of tools that can be applied to your chart.
cTrader Web - Open New Chart - If you want to load a different chart, there are a number of ways to go about it. One way is from the FxPro cTrader dropdown menu on the top left corner. When in single chart mode, click + beside the last chart tab and select a currency pair. This option is not available in multichart view. From the asset list, select a symbol and click the chart icon to open a chart for that symbol – or right-click the symbol and select New Chart. Additionally, from an open Position, right-click on the position area and click Open ... Chart.
cTrader Web - Chart Shots - If you want to share your masterpiece of a chart with friends and colleagues or just save it for yourself for later reference, cTrader has a tool called Chart Shots, which offers an easy way to share snapshots of your charts with just a couple of clicks. Click on the ChartShot icon on the vertical toolbar that appears to the right of the charts, which looks like a camera. Your chart shot will open in a new window in your browser, so make sure pop-ups are enabled. ChartShots also works with detached charts; you can resize the chart to produce a different size image and share it on social media or save to your computer.
cTrader Web - My Workspace - You can customize the workspace layout and design of cTrader and save them for later use. A saved workspace includes your charts, chart templates, favorite ticker symbols and preferences. Click on the My Workspace link in the middle of the top menu bar, and choose Save Workspace. To delete a workspace, simply identify the workspace you want to delete from the dropdown menu and press the X. You cannot delete the workspace you are currently using.
FxPro - Meta Trader 4 (MT4) - Web - FxPro’s Meta Trader 4 (MT4) is its dedicated foreign exchange (FX) trading platform. Here you can trade a wide of range of currency pairs using sophisticated technical analysis and charting tools. On the left is the MarketWatch, which is a list of available trading pairs. To the right is the chart window, and below is the Toolbox where you can view your trades and order history. If you need help at any point, see the Help menu along the top menu bar.
FxPro - MT4 - Web - Symbols - Although FxPro is known for currencies trading, you can access a range of other products using the Symbols icon along the menu bar – which looks like a dollar sign in a yellow box with a green and blue box behind it.
FxPro - MT4 - Web - Charts - MT4 web has a useful set of charting tools for you to deploy. You can also trade directly from the chart using the quick order entry box to buy and sell.
FxPro - MT4 - Web - Orders - When you’re ready to place an order, you can open a detailed order ticket window by double-clicking on a symbol in the MarketWatch table on the left. Enter the order type, price and quantity, and you’re ready to go. Completed and open trades will appear in the Toolbox window below.
FxPro Standalone Software Platform - If you’re looking for a little more power and functionality than the web platforms provide, you’re probably ready to download FxPro’s standalone software platforms. Click on the links to Download platforms from the main Account page, or from the Help menus in either of the web-based versions, to load the download page. Choose the platform and operating system that's appropriate for you and proceed to download and install.
Meta Trader 4 (Standalone) - MetaTrader4 (MT4) looks fairly similar to its online cousin – with a MarketWatch table of symbols on the left, charting on the right and a message box at the bottom. However, unlike the web version, the desktop MT4 lets you program in automatic trading algorithms and bots – for example, those made on FxPro’s Quant tool. MT4’s workspace layout is also much more customizable and flexible.
FxPro - MT4 Standalone - Order Ticket - Placing on order on MT4 is identical to the process for the web version. Double-click on a symbol in the MarketWatch to create an order ticket, enter the order details and submit. You can also click on New Order from the top menu bar.
FxPro - MT4 Standalone - Meta Editor - An advanced feature of MT4 lets you program and run trading algorithms. If you want to get under the hood of an algo, click on the Meta Editor icon on the top menu bar (the yellow triangular icon between New Order and Order Trading). You can also navigate here from MetaQuotes Language Editor in the Tools menu, or use the keyboard shortcut F4. Here you can load, view and edit algos that are encoded in the MetaQuotes 5 programming language (MQL5). To learn more about MQL5, consult the Help menu on the top menu bar. To enable your algos or bots, click on the AutoTrading icon on the menu bar or use the Ctrl-E keyboard shortcut.
FxPro - MQL5 Resources - If you’re not yet familiar with MetaQuote or need to brush up on your scripting skills, the Help menu has useful links to MQL resources and communities. MQL5.com, for example, links directly from the application and is an invaluable resource for those interested in creating and editing their own trading algorithms.
FxPro - MT4 - History Center - Another feature unique to the desktop version of MT4 is its History Center. This tool lets you load historical data in table format for analysis or charting from among its many available assets. These data can also be downloaded or exported for use with other platforms or tools. Load this tool from the Tools menu, or use the keyboard shortcut F2.
FxPro - cTrader (Standalone) - While MT4 is much more powerful as a desktop tool, cTrader is quite comparable to its online version. The look, feel and functionality are all nearly identical.
FxPro - cTrader - All-In-One-Calculator - If you’re wondering how much a trade is going to cost you in terms of commissions, fees and margin requirements, you can find out by using the All-In-One-Calculator. You'll find the calculator in the Help Center under the Trading Calculator menu option. Simply enter the asset you’re trading and the amount and hit Calculate.
FxPro - cTrader - Currency Converter - Since FxPro is focused on trading currencies, it makes sense that it has a currency converter tool. FxPro’s foreign exchange calculator lets you convert between a number of different currencies. To use the calculator, select your currency, the currency you would like to convert to and the sum you would like converted. Then click "calculate" to perform the conversion using live market rates.
FxPro - cTrader - Help Centre - Resources and Tutorials - Sometimes the help menus inside the web and standalone apps just aren’t enough. When you find yourself in a jam, click on Help Center from the main Account page. Here you’ll find FAQs, help videos, trading tutorials and technical articles.
Customer Service - Contact Us - If you need assistance, FxPro has a number of email and phone options including multilingual customer service. You can find these numbers by clicking on Contact Us at the bottom of the main Account page.
Documents - Sitemap - FxPro is a large site with both online and downloadable trading platforms. If you need help navigating to parts of the site or platform that aren’t included in this tutorial, the site map may be helpful.