An account with FxPro
This site links to FxPro, an international broker. This page states what the account is, what the broker says about itself, and what a reader should check before opening one. It is not a sales page, and it does not promise profit or safety.
The same register checks, applied to the broker
Before opening an account, a reader should apply the same checks this site teaches for any platform. FxPro is not on the Pakistan Stock Exchange's list of trading right holders, because it is not a Pakistani brokerage. It offers contracts for difference, not exchange-traded shares. The legal entity that will serve a client is named in the client agreement, and that entity is the one to check against its regulator's register.
The FxPro group operates through several regulated entities, authorised by the FCA in the United Kingdom, by CySEC in Cyprus and by the Securities Commission of The Bahamas. Which entity serves a client depends on the country of residence, and the client agreement must state it. A reader should search the relevant regulator's register for the exact legal entity named, not for the brand name FxPro.
How a regulated brokerage with exchange trading rights differs from an overseas CFD account
A firm on the Pakistan Stock Exchange's list holds a trading right entitlement certificate, which lets it trade listed shares on the exchange. When a client trades through such a firm, the shares are registered in the client's name or in a nominee account, and the trade settles through the exchange. A CFD account with FxPro is different: a CFD is an agreement on a price movement, so no asset is delivered and nothing is registered in the client's name.
Each leaves a different paper trail. A trade on the exchange produces a trade confirmation and a holding statement. A CFD trade produces a contract note from the broker. A reader should ask what document they will receive for each trade, and whether it shows an exchange or a broker as the counterparty.
What to read in the client agreement and the risk warning before an account is opened from Pakistan
The client agreement names the legal entity, the regulator that authorises it, and the law that governs the agreement. It also states the leverage limits and the negative balance protection, which applies to all FxPro clients. Retail leverage limits differ by regulating entity, so a reader must check the limits that apply to their entity, not to the group as a whole.
The risk warning states that CFDs are leveraged and carry a high risk of losing the money deposited. FxPro says that client money is held separately from the company's own funds, and platforms offered are MetaTrader 4, MetaTrader 5, cTrader, a browser platform and a mobile app; a practice account exists. A reader should read these documents before depositing any money.
FxPro is not licensed by the Securities and Exchange Commission of Pakistan. An account is opened with a company regulated outside Pakistan - 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. Sending money abroad for trading is subject to State Bank of Pakistan foreign exchange rules. Nothing on this site is investment advice.
An account with FxPro
Opening an account means reading a client agreement and a risk warning, and knowing which entity will serve you. This site is not the broker and takes no money from the reader.
See what the FxPro account is →