The FxPro account and what to check before opening one
This page describes the account with FxPro, an international broker, using only the facts listed for it. It is a factual page about what the account is and what a reader should check, not a sales page.
Apply the same list check to the broker
Before opening an account, put the same question to the broker that this site teaches for any bot pitch: which legal entity will hold the money? The FxPro group operates through several regulated entities, and the one that serves a client depends on the country of residence. The client agreement names the entity and its regulator.
A reader should then search the regulator's own register for that entity. The facts list the FCA in the United Kingdom, CySEC in Cyprus and the Securities Commission of The Bahamas as regulators of FxPro group entities, but this site does not state which one applies to a Philippine resident. That is written in the agreement.
An account where the client runs the strategy
FxPro offers contracts for difference, which means a client speculates on price movements without owning the underlying asset. The platforms offered are MetaTrader 4, MetaTrader 5, cTrader, a browser platform and a mobile app, and a practice account exists. Negative balance protection applies to all clients, and client money is held separately from the company's own funds.
MetaTrader platforms at FxPro support Expert Advisors, automated strategies the client chooses and controls in the client's own account. That is a different arrangement from a promoter who trades with pooled money. In the latter, the client hands over control and often cannot see where the money goes.
What to read in the client agreement and risk warning
The client agreement states which entity serves the client, the regulator it is authorised by, and the terms for deposits and withdrawals. It also sets out the risks. CFDs are leveraged and carry a high risk of losing the money deposited. Retail leverage limits differ by regulating entity, so the maximum available to a Philippine resident is set by the entity named in the agreement.
Before opening an account from the Philippines, read the risk warning and the client agreement carefully. Check the legal entity, the regulator, and how client money is held. No one can promise that an account is safe or profitable; the reader must decide based on the documents.
FxPro is not registered with the Securities and Exchange Commission of the Philippines and holds no licence from the Bangko Sentral ng Pilipinas. An account is opened with a company regulated outside the Philippines - the group is authorised by the FCA in the United Kingdom and CySEC in Cyprus - so a resident deals with a foreign firm and the protections of a locally licensed one do not apply. Nothing on this site is investment advice.
An account where you run the strategy, not someone else
FxPro offers contracts for difference on currencies, metals, indices, shares and crypto. A CFD is an agreement on a price, so no asset is delivered and nothing is registered in your name. CFDs are leveraged and carry a high risk of losing the money deposited. This site is not the broker and takes no money from you.
See what the FxPro account is →