FxPro broker review for traders in Iceland
Founded in 2006 and headquartered in Cyprus, FxPro has built its reputation on execution quality rather than aggressive pricing. It holds licences from four regulators — FCA, CySEC, FSCA, and SCB — which means the regulatory framework applicable to a given trader depends on their country of residence.
The broker offers access to over 2,100 instruments spanning forex pairs, stock CFDs, indices, commodities, and cryptocurrencies. Four trading platforms are available: MetaTrader 4, MetaTrader 5, cTrader, and FxPro’s own proprietary platform — a broader selection than most competitors offer. Execution follows a no-dealing-desk (NDD) model, with market execution across accounts.
Spreads on the standard account start around 1.2 pips on EUR/USD, which is competitive but not the tightest in the industry. A raw spread account is available with spreads from 0.0 pips plus commission, better suited to active traders. The minimum deposit is $100.
Iceland
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brokers
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FxPro
17.4.26
Available locally?
Foundation
2006
Minimum Deposit
€100
HQ
Payment Methods
Regulators
FCA
CySEC
FSCA
SCB
Trades at the Stock Exchange?
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How to Open an Account
1. Go to the official website >
Visit the app's official website (or download it from the App Store/Google Play) to get started from a trusted source.
2. Open an account
Register, enter your basic information, and set up secure login. If available, enable two-factor authentication for extra protection.
3. Verify your identity
Complete the verification process with the required documents, such as an ID card or passport, and proof of residence (e.g., an electricity bill or bank statement).
4. Add funds
Choose how to use the service: bank transfer, card, or linked account (depending on the app). Check fees, limits, and processing times before confirming, as they may vary.
5. Make your first transaction
Find the function you need in the app, set the amount or limit (if applicable), and confirm.
Official Website:
Advantages
Trading Platform & Execution
Fast Execution Speed
Orders executed quickly with minimal latency.
Regulation & Trust
20+ Years in Business
Long operational history demonstrating stability and experience.
Regulation & Trust
Negative Balance Protection
Prevents losses from exceeding the account balance.
Regulation & Trust
Segregated Client Funds
Client funds kept separate from company operational funds.
Costs
Transparent Fee Structure
Fees, spreads, and commissions are clearly disclosed.
Regulation & Trust
Clean Regulatory Record
No significant regulatory penalties or violations reported.
Regulation & Trust
Multiple Tier-1 Regulators
Supervision by several top-tier financial regulators increases investor protection.
Regulation & Trust
Investor Compensation Scheme
Compensation program available if the company becomes insolvent.
Costs
Commission-Free Trading
Some instruments can be traded without paying commissions.
Trading Platform & Execution
Desktop Trading Platform
Dedicated desktop software available for trading.
Disadvantages
Customer Support
Poor Customer Support
Slow responses or limited support availability.
Customer Support
Limited Support Channels
Few ways available to contact customer support.
Alternative Provider
AvaTrade
AvaTrade is a leading broker in the Forex and CFD market. Since its founding in Ireland in 2006, AvaTrade has experienced exponential growth: by 2026, the company had over 8 million clients. AvaTrade offers CFDs on Forex, Indices, Commodities, Cryptocurrencies, Stocks, Bonds, Options, and Futures.