FxPro vs markets.com - 2022 Comparison | FX Scouts Kenya
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Scouts Kenya, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.29/ 5 USD 100FCA Regulated BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthoritySecurities Commission of the BahamasMarket Maker NDDCryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals7030
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
Read Review 111104/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 1110.503.5/ 5 1110.503.5/ 5 11110.54.5/ 5 71.58%200:10.40 pips FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge MT4, MT5, cTrader, FxProEdgeBank Transfer, Mastercard, Visa, Unionpay, Paypal, Neteller, Skrill9 USD / lot
11110.54.58/ 5 USD 100FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBritish Virgin Islands Financial Services CommissionMarket MakerBlends, Bonds, Commodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Futures, Indices6725
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
  • High minimum deposit
Read Review 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 111104/ 5 79.9%300:10.60 pips Live, Markets.com, Marketsx, MetaTrader 4, MetaTrader 5 MT4, MT5Mastercard, Visa, Neteller, Skrill, Bank TransferFees Included in Spread

How do markets.com and FxPro stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FxPro

markets.com

At FX Scouts Kenya, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare markets.com and FxPro, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does markets.com or FxPro have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that markets.com holds two Tier 1 and one Tier 2 licences, and FxPro holds one Tier 1 and two Tier 2 licences.

 

Can I trust markets.com?

Yes as markets.com was founded in 2008 and is regulated by ASIC, B.V.I FSC, CySEC, FCA and FSCA.

 

Can I trust FxPro?

Yes as FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.

 

Based on these findings, markets.com earned a higher trust rating than FxPro.

Does markets.com or FxPro have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that markets.com has overall lower trading costs than FxPro. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
FxPro
11110.54.5/ 5
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
1.40 pips
USD 14
0.40 pips
1.00 pips
0.60 pips
USD 0
MarketsX
111115/ 5
USD, AUD, CHF, CZK, DKK, EUR, GBP, NOK, PLN, SEK, ZAR
0.70 pips
USD 7
0.60 pips
1.20 pips
0.70 pips
USD 0

 

Does markets.com or FxPro offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FxPro offers support for cTrader, MT4, MT5 and FxProEdge and markets.com offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FxPro and markets.com offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
FxPro
111115/ 5
FxProEdge
MarketsX
11110.54.5/ 5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FxPro offers a greater range and depth of instruments to trade than markets.com. FxPro offers 70 Forex pairs to trade and markets.com offers 67 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, FxPro offers 30 cryptocurrencies while markets.com offers 25 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FxPro.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FxPro nor markets.com charges a withdrawal fee. Overall, FxPro has better deposit and withdrawal processes than markets.com. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

markets.com has better educational support than FxPro. markets.com offer educational support for more experienced traders and FxPro does not.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
FxPro
Medium
MarketsX
High

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that markets.com offers better research analysis than FxPro and that both FxPro and markets.com offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
FxPro
MarketsX

 

Our overall Verdict on markets.com

Marketsx is a premium trading platform. It’s operated by Markets.com and offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on global stock, forex, commodity, indices, cryptocurrency, ETF and bond markets. Clients in the UK can also use spread bets on applicable instruments.

The proprietary Marketx trading platform is packed full of features and trading tools and is optimised for lightning execution. As well as in-depth charting and asset comparison tools, Marketsx also gives traders a wealth of decision-supporting data with sentiment tools, tutorials, and regular live-streamed, expert analysis.

Owned by Tradetech Markets (South Africa) Pty Ltd., a subsidiary of Playtech PLC, Markets.com (South Africa) SA is one of the best-recognised Forex brands.

Our overall Verdict on FxPro

FxPro is one of the most respected Forex brokers in the industry. Regulated by the FCA and CySEC and with over 870,000 client accounts in 173 countries, FxPro is a truly global powerhouse.

FxPro offers a no dealing desk execution model on MT4, MT5, cTrader and a browser-based platform. A reasonable 100 USD opening deposit and outstanding customer service are combined with competitive spreads – often as low as 0.6 pips – to match profitability with security.

Which broker has the highest overall rating?

markets.com has an overall rating of 4.58 and FxPro has an overall rating of 4.29. For more detail please read our reviews of markets.com and FxPro.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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