FxPro

FxPro is the broker we work with, and it ranks 7th of 10 on cost

Raw+ · MT5 account, EUR/USD, 27.08–25.09. Both columns are printed for every broker on this site, ours included — the losses are what make the wins worth reading.

EUR/USD · 27.08–25.09 · our own account, 1 s bid/ask sampling

Where the $1 554 comes from

The headline figure is one number, and one number is not checkable. Here it is in its parts, for 10 lots a month of EUR/USD on the Raw+ · MT5 account we opened:

One pip on one standard lot of EUR/USD is about $10; that conversion is the only constant in the sum, and it is the market's, not ours.

On this account the commission is the larger half of the bill: $840 of $1 554, or 54%. That is the thing a spread table cannot tell you. FxPro quotes a raw spread of 0.55 pips, which looks almost free, and then charges per lot for the privilege. Whether that is cheaper than a wider spread with no commission depends entirely on how much you trade, which is why the profile is stated rather than assumed.

The swap line, $49 a year, is the one component that does not scale with how often you trade — it scales with how long positions stay open. A A day trader who is flat overnight will pay almost none of it; somebody holding a position for weeks will pay more than our profile shows.

These are not quoted prices. They are what one real account would have paid over a stated window at a stated volume - and volume moves the total more than any difference between brokers. At a tenth of this activity the commission line shrinks to a tenth while the swap line barely moves, and the ranking between brokers can invert.

Execution measured by sending orders, not by reading claims

Spread is what a broker quotes. Execution is what you get and the two part company precisely when it matters. Out of 4 823 orders on this account 0.4% did not execute and the 214 orders placed into the minutes around scheduled economic releases slipped by 0.8 pips on average — about $8 per standard lot every time one of those orders is placed.

We count as a reject only what the broker itself refused, by its own status code. Orders that simply never came back inside our waiting window are our problem, filed as no answer, and kept out of the broker's figure. Keeping them apart is what makes the figure comparable between brokers at all.

Slippage measures where the fill landed relative to the request, with the sign pointing the way a trader experiences it — positive is money lost. It is measured only on release-timed orders because that is where the number has meaning. A grid of probes spread evenly through a quiet afternoon reports that every broker on earth is identical. The whole of execution quality lives in the few minutes a day when liquidity thins and everybody has orders arriving at once.

Every probe opens and closes within seconds at minimum volume, so what is measured is the fill and not a position. The execution price returned by an order and the quotes streaming alongside it are not always in the same units, so a probe whose fill disagrees with the quote stream by more than a couple of per cent is recorded as suspect rather than published.

How this account was measured

Our FxPro account is a plain Raw+ · MT5 account, opened through the public sign-up with no negotiated terms and no introducing-broker arrangement. Collection runs on its own always-on machine, with every power-saving default switched off after we found that they cut precisely the hours either side of midnight UTC.

Ticks land in the store unmodified, and the one transformation applied to them — the shift from broker-server time to UTC — is measured per session rather than assumed. Freshness is checked after conversion, and it is the check that matters — a quote frozen at the Friday close can otherwise be indistinguishable from a live one with a plausible offset attached.

Execution is measured by sending orders not by reading a chart: 4 823 market orders of the smallest volume the account permits went through this account during the window of which 214 were timed into the minutes around scheduled economic releases. Each one was closed immediately - an open position would accrue swap and market exposure and poison the next measurement - and after every run the account was reconciled against the broker to confirm nothing was left open.

Collection ran from 2026-08-27 to 2026-09-25 without interruption, and what counts as coverage here is the share of market hours in the window holding real samples. The looser definition — hours of the day ever seen — once let a dead collector report itself healthy for three and a half days.

Spread by hour on the Raw+ · MT5 account

Every hour of the day, as measured on this account: the mean of one-second samples falling in that hour across the whole window. The widest hour is 22:00 UTC at 2.70 pips, the tightest is 13:00 UTC at 0.22.

The rollover window, 21:00-24:00 UTC, averages 2.02 pips against 0.25 through the London and New York hours — about 8.1 times wider. That ratio, not the daily average, is what decides whether an overnight strategy is viable on this account, and it is the number a marketing page never carries.

Hourly mean of 1 s bid/ask samples · 27.08–25.09 · our own Raw+ · MT5 account · how the hours compare across brokers

What FxPro's licence gives a client

Our account at FxPro sits with FXPRO Financial Services Ltd, authorised in Cyprus (EU) under 078/07 since 05/0. What follows is not the broker's description of that status but the regulator's own rules, with the sentence each one comes from.

Read together, those four lines describe a fairly specific deal. Your losses on a CFD account cannot exceed the money in it, because negative balance protection caps aggregate liability at the account balance. Positions are closed out when equity falls to half the required initial margin, which is a floor under how far a bad position can run before somebody intervenes. Leverage on major currency pairs is capped at 30:1 — the same broker group may legally offer several hundred to one through a different entity, and that is one of the clearest practical differences between the licences a single brand can hold. And if the firm itself fails owing you money, the compensation scheme pays up to €20,000, which is a ceiling worth knowing against the size of a deposit rather than after it.

None of that is a judgement about FxPro. It is the floor the licence puts under any firm holding it, and the reason this site records the entity rather than the brand: the measurements above would be identical under a different entity, and the protections would not.

📄 stated by the regulator · read on 2026-10-11 · we quote the rule, not a summary of it, because a summary is where this kind of fact usually goes wrong

One caution about reading protection as cost. The regulated European entity is often not the cheapest venue a group operates: the same brand's offshore entity may quote tighter and lever higher. Our figure of $1 554 a year is for the entity above, on the account type above, and it is not transferable to a differently licensed arm of the same company.

Where FxPro sits on each axis

FxPro is in the better half of the table on 4 of the 8 axes it has figures for — best of 9 on rejected orders; best of 9 on slippage on releases; best of 9 on withdrawal fee. Each placing is against the other accounts in the same source class, on the same instrument and window - not against a broker's claim, and not rolled into a composite score. No overall score is computed, because an average is the easiest place to bury a loss.

Lower is better on every axis · 27.08–25.09 · ranking happens inside one source class only

Read the column of placings rather than any one row. Consistency across axes tells you what kind of account this is; a strong placing on one axis tells you almost nothing about the bill or the fills.

Somebody else's measurement, labelled as theirs

We do not print our own spread figure for this broker. Its feed did not pass our continuity audit, which means we cannot tell whether what we recorded was the market. Printing the broker’s own marketing figure instead was not an option, so the reading below comes from a third party that measures real accounts, and it is labelled as theirs.

📊 third party · offbeatforex.com · read on 2026-10-11 · their method: their own measurement on brokers' real accounts; account type published per row; we read the HTML table, we do not re-measure

It sits in its own class and is never mixed into a ranking with figures we produced ourselves. A number somebody else produced on their hardware, on their account, over their window is a different kind of object from a number we produced on ours — comparable in spirit, not in method. What it is good for is a sanity check: if their reading and ours ever diverge sharply once our own series is publishable, at least one of us is wrong, and that is worth knowing.

We only use a third-party source that publishes the account type per row, for the same reason we never average account types ourselves. The commission on that account type is part of the cost and is not in the spread column — on the figures above, the per-lot fee has to be added before the number can be compared with a commission-free account.

Questions about FxPro

The questions below are answered from this broker's own figures; where the honest answer is that we do not know, that is the answer given.

How to catch us out

The incentive on this site runs one way, and the only honest response to that is to make the figures easy to attack. Start here.

• Check that the losses are printedif the sponsor's losses ever stop appearing on this site, stop believing the rest of it
• Check the source class on each number🔬 measured, 📊 third party, 📄 stated by the broker — and no ranking crosses those classes
• Recompute the billthe components and the profile are printed above; the arithmetic is deliberately simple enough to redo on paper
• Ask for the rowsthe data page says what we hand over, including the flagged readings we excluded
• Compare us with anybody else measuring the same thinga figure that only exists on one site is a figure nobody has checked, ours included

If you find something wrong, tell us: desk@costcheckfxen.com. We publish the correction and keep the wrong rows, flagged and excluded, because a record of our own faults is worth more than a clean-looking database. A broker that disagrees with a number here is sent the query and the rows behind it; the editorial policy says how that works.