FxPro is a forex and CFD broker that has been in operation since 2007. The company is headquartered in London, England, and it is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
However, there have been some allegations that FxPro is a scam. In this article, we will take a closer look at FxPro and its regulatory status, as well as some of the customer feedback that has been received about the company.
Company Overview
FxPro is a large forex and CFD broker that offers a wide range of trading products and services. The company’s clients can trade forex, indices, commodities, stocks, and cryptocurrencies. FxPro also offers a variety of trading platforms, including MetaTrader 4 and MetaTrader 5.
Team
The company has a team of over 1,200 employees and it operates in over 170 countries. FxPro is a member of several industry associations, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Industry Regulatory Authority (FINRA) in the US.
License and Regulations
FxPro is regulated by several financial authorities, including:
- Financial Conduct Authority (FCA) in the UK
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Industry Regulatory Authority (FINRA) in the US
- Dubai Financial Services Authority (DFSA)
- Securities Commission of the Bahamas (SCB)
The FCA is the UK’s financial regulator and it is one of the most respected regulatory bodies in the world. The CySEC is Cyprus’ financial regulator and it is also a well-respected regulator. The FINRA is the US’ financial regulator and it is the largest self-regulatory organization in the world. The DFSA is Dubai’s financial regulator and it is a well-regulated jurisdiction. The SCB is the Bahamas’ financial regulator and it is a well-regulated jurisdiction.
Why Dealing With An Unlicensed Broker Is Risky?
It is important to only deal with licensed brokers, as unlicensed brokers are more likely to be scams. When you deal with an unlicensed broker, you are not protected by any financial regulations. This means that if the broker goes bankrupt or disappears, you could lose all of your money.
Legal Warning Against FxPro
In 2017, the Financial Conduct Authority (FCA) issued a legal warning against FxPro. The FCA warned that FxPro was not authorized to provide financial services to UK residents. The FCA also warned that FxPro was not regulated by the FCA and that it was therefore not subject to the FCA’s rules and regulations.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There have been some negative customer reviews about FxPro. Some customers have complained about the company’s trading platform, while others have complained about the company’s customer service.
Feedback About Their Trading
Some customers have complained that the FxPro trading platform is slow and unresponsive. Others have complained that the spreads are too wide.
Feedback About Their Customer Service
Some customers have complained that the FxPro customer service is slow and unhelpful. Others have complained that the company has been unresponsive to their complaints.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by a forex broker, you can contact “Reviews Advice” for help. “Reviews Advice” is a company that specializes in helping people who have been scammed by forex brokers. We will provide you with some recovery service recommendations to help you recover the lost funds.
Final Thought
There is some evidence to suggest that FxPro may be a scam. The company has been warned by the Financial Conduct Authority (FCA) and there have been some negative customer reviews about the company. However, FxPro is still a regulated broker and it is possible that the negative reviews are from disgruntled customers.
