FxPro earns a trust score of 70/100 (Grade B) in our assessment. The regulatory framework pairs one top-tier licence with one tier-2 licence and two offshore authorisations, a combination that inspires confidence at the top end but warrants scrutiny at the lower tier.
The score is further tempered by a suspended Trustpilot profile and recurring withdrawal complaints across community forums. For traders asking "is FxPro legit," the multi-regulator framework confirms legitimacy, though the reputational issues deserve attention.
Is FxPro regulated?
FxPro operates through four regulated entities, each supervised by a different authority:
- Financial Conduct Authority (FCA) (United Kingdom): FXPRO UK Limited is authorised under licence FRN 509956. The FCA imposes stringent conduct-of-business rules, capital adequacy requirements, and mandatory risk warnings on all firms it supervises. FxPro's own site discloses that 75% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. That number is not a marketing footnote. It is a regulatory disclosure telling you the majority of retail participants at this broker do not come out ahead.
- CySEC (Cyprus): FXPRO Financial Services Ltd holds Cyprus Investment Firm licence CIF 078/07. As an EU-level regulator, CySEC enforces MiFID II obligations including leverage caps, negative-balance protection (ensuring your account cannot fall below zero), and the same 75% retail-loss-rate disclosure required under ESMA guidelines.
- Securities Commission of The Bahamas (SCB) (Bahamas): FxPro Global Markets Ltd is licensed under SIA-F184. The SCB is an offshore regulator. While it maintains a public register, its investor-protection standards are materially less comprehensive than those of the FCA or CySEC. This distinction matters because the entity under which your account is held determines what protections apply to your funds.
- Financial Services Authority of Seychelles (FSA) (Seychelles): Invemonde Trading Ltd operates under licence SD120. Like the SCB, the FSA Seychelles is an offshore authority, meaning clients onboarded through this entity may not benefit from the same level of fund segregation or compensation guarantees available under European licences.
FxPro (Australia) Pty Limited appears as a registered entity associated with ASIC; however, this entity was not found on the ASIC register during review. You should not rely on it as a current regulatory authorisation.
How are client funds protected?
Under the CySEC-regulated entity, eligible retail clients benefit from the Investor Compensation Fund (ICF), which provides statutory cover of up to €20,000 per eligible client (calculated as 90% of the covered claim, capped at €20,000). For clients of the FCA-authorised entity, the UK's Financial Services Compensation Scheme (FSCS) provides protection of up to £85,000 per eligible claimant, and FCA-mandated segregation rules apply.
Clients onboarded through the Bahamas or Seychelles entities should understand that equivalent compensation schemes are either limited or absent entirely. The choice of onboarding entity is not an administrative detail. It is a meaningful decision that shapes your counterparty risk exposure.
Is FxPro trustworthy based on its track record?
Founded in 2006 and based in the United Kingdom, FxPro carries two decades of continuous operation. That longevity, combined with four regulatory licences spanning two continents, positions the broker among the more established names in the industry.
The public reputation presents a mixed picture. Verified user-review platforms paint a generally positive image: Google Reviews reflects 4.3 out of 5 from 373 reviews, the Google Play Store shows 4.3 out of 5 from approximately 98,000 reviews, and the Apple App Store shows 4.4 out of 5 from 15 ratings.
On the other side, FxPro's Trustpilot rating has been suspended. Trustpilot states the rating is unavailable due to a breach of its guidelines and confirms that fake reviews were removed.
For a broker that otherwise presents solid regulatory credentials, a Trustpilot suspension is a significant reputational blemish.
Withdrawal complaints surface with some regularity across Reddit and trading forums. Some community analysis attributes these FxPro withdrawal problems to incomplete user verification rather than systematic broker misconduct, but the volume warrants caution.
The FCA has also issued a formal warning about a clone firm operating under the name "Fx Pro," so always verify you are accessing the correct website before depositing funds.
FxPro holds 4 regulators: 1 tier-1 licence (Financial Conduct Authority); 1 tier-2 licence (Cyprus Securities and Exchange Commission); 2 offshore licences (Securities Commission of The Bahamas, Financial Services Authority of Seychelles).
EngineForex Trust Score
FxPro: 70/100 (Grade B)
| Component | Score | Note |
|---|
| Regulator tier coverage | 40/40 | 2 tier-1 licences |
| Number of regulators | 15/15 | 5 regulators |
| Years of operation | 15/15 | 27 years (10+) |
| Trustpilot rating | 0/20 | SUSPENDED, rating is unavailable due to a breach of our guidelines. |
| Trustpilot review volume | 0/10 | n/a, Trustpilot rating suspended |
*Computed deterministically from verified register reads, founding year, and live Trustpilot data. See EngineForex's "How We Review Brokers" for the full methodology.*
