Review Is GreatFXPro a Scam or Legit Broker

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Greatfxpro Review – is it scam or safe?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Mini $500 1:200 3 pips
Classic $5 000 1:200 3 pips
Premium $20 000 1:200 3 pips

Greatfxpro is a forex broker registered on the Marshall Islands. It offers three account types, however it is not clear whether and how the trading conditions on these accounts differ. Apart from their account types and trading conditions, we have serious concerns about this broker and the details will be highlighted below in this review.

Greatfxpro Advantages

Trading on the MetaTrader4

Clients of Greatfxpro have access to the MetaTrader4 (MT4) which is by far the foremost platform in use. It can be accessed through almost any web browser, as well as mobile devices and has great charting and useful functionalities. One such option is the MQL5 programming language through which traders can alter or design their own auto-trading bots or run ready-made ones. Another very popular functionality of this platform is the support for Expert Advisors for automated trading.

Wide range of assets

Another good thing about this broker is that offers trading in currency pairs from all over the world and a wide variety of CFDs, allowing for portfolio diversification, which helps manage risk. More specifically, the broker’s CFD product range includes, indices, stocks, commodities, precious metals and cryptocurrencies.

Up to 1:200 in leverage

The maximum leverage at Greatfxpro is up to 1:200, which is a reasonable level. Such maximum leverage ratio is average for the forex sector and will satisfy the needs of most traders.

Note that using high leverage also has a significant disadvantage – you may lose your investments in a matter of seconds, because it actually multiples the risk of loss.

Greatfxpro Disdvantages

No license, registered offshore

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Greatfxpro is allegedly owned and operated by Clixads Ltd., a company registered offshore, on the Marshall Islands. This is an offshore zone where forex brokers do not fall under any regulatory oversight. This constitutes a major security concern for potential clients of Greatfxpro, who have no guarantee for their investment and may be open to substantial risk. The offshore registration also means that this broker is not entitled to operate on any regulated financial market, such as the EU, US, Canada, Japan, etc.

High cost of trading

First of all, Greatfxpro demands an initial deposit of $500 for the most basic account type, which is at least double the size of what most brokers require as a start. Second, the spreads announced on its website are 3 pips on EUR/USD.

Even for fixed spread standards, this is a high level. As a comparison, easyMarkets offers a 1 pip fixed spread on the most popular pair, to those clients who deposit more than $250.

No demo accounts

Another worrisome sign regarding Greatfxpro is that it does not offer free demo accounts, so potential clients of this broker are unaware of the trading costs, as well as other key aspects of its service.

The MT4 provided by a shady company

Although Greatfxpro does not offer free testing service, its MT4 is freely downloadable from the website. So, we discovered that it is in fact provided by a third party, Trading Technologies Ltd. The company has been blacklisted by Belgium’s financial regulator FSMA, as well as by the French supervisory authority, the AMF. This is another major red flag regarding this broker.

Last but not least, we have to mention that the name of Greatfxpro seems misleading to us, as it is very similar to those of the legit and globally regulated broker FxPro. This is a popular scam tactic also known as a “clone firm”.


Greatfxpro is one of the many shady offshore brokers operating on financial markets. Considering that most offshore brokers turn out to be scams, we urge traders to exclude such risk by only dealing with companies licensed by reputable financial agencies, such as the FCA in the UK or CySEC in Cyprus. These authorities require compliance with a number of strict rules that provide significant assurance for the security of the clients` funds.

To sun up our recap on Greatfxpro:

Pros Cons
MT4 available Not licensed
Wide range of financial products High cost of trading
Solid leverage MT4 provided by a shady company
Misleading name
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

GreatFXPro review – 5 things you should know about

Beware! GreatFXPro is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

GreatFXPro is a Forex brokerage registered in the Marshall Islands. It provides both a web-based trading terminal and the MT4 trading platform, as well as an extremely generous leverage of up to 1:200. Furthermore, there is a wide range of trading products from which to choose and a required minimum deposit of $500 which, however, we consider quite high. The spread on EUR/USD is 3 pips which is also above the standard pip and a half, and a disadvantage for traders.

GreatFXPro regulation & safety of funds

According to the website the company behind the brokerage is registered in the Marshall Islands with a registered address we have seen with countless other brokerages. Here is a screenshot:

The Marshall Islands has become a top-destination for would-be scammers due to its very liberal laws regarding the registering of companies. The government does not even require for someone to be physically there in order to register a company. Such a loophole has surely been noticed by many ill-minded brokers and utilized. Nonetheless, it’s safe to assume that the company behind the brokerage, irrespective of its legitimacy, does not fall under any regulatory oversight because the government of the Marshall Islands does not include Forex trading within its regulatory framework.

Putting that aside, the brokerage states that it provides the MetaTrader 4 trading platform, including a web version. The MT4 is among the foremost trading terminals in Forex trading at the moment, close to 80 percent of users prefer it. The platform provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Beginner traders will find the trading platform easy to use as well, due to its user-friendly lay out. However, we were not able to register for a demo account but we did get a hold of the trading conditions of the broker since they are posted on the website. Here is a screenshot:

We read that the spread on EUR/USD is 3 pips which is twice the industry average. The leverage extended to traders is 1:200 which is both generous and balanced. However, we always view the lack of demo account as an disadvantage since a test-drive is the most credible way in getting acquainted with the trading conditions. Putting that aside, t he offshore location of the brokerage and the unspecified address highly incline us to suspect that potential clients of the brokerage may be open to substantial risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

GreatFXPro deposit/withdrawal methods and fees

Traders may deposit or withdraw via Visa, MasterCard, wire transfer, as well as e-wallets such as Neteller and Skrill,

In the terms and conditions of the brokerage we did not find any noteworthy provisions regarding the withdrawal, but we have to highlight the bonus conditions. Here is a screenshot:

The bonus conditions are absolutely ridiculous. Traders are required to execute a minimum trading volume of $20,000 for every bonus dollar. This literally means that clients will not be able to withdraw if they take advantage of the bonus promotion. As was said above – we did not find any withdrawal fees, however, this does not mean there aren’t any withdrawal fees necessarily. This is why we always advise traders to put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Unfortunately, the possibility of a scam looms over almost every trade in forex, especially if you are dealing with an unregulated brokerage. That is why we believe traders should be acquainted with the methods of a scam. Here is how it would typically go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Cash where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in Forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way! Review Visit site

WARNING: The FPA has seen evidence indicating that non-clients are being paid to leave fake positive reviews for FxPro.

The FPA notified FxPro of this situation in December of 2020 and requested contact with the CEO to end FxPro’s issues with fake reviews and to make certain that the issue would not repeat. Initially, there were replies from FxPro, but those ended in January 2020. Another message came in April 2020. The FPA replied, FxPro did not. The next message from FxPro wasn’t sent until December 2020. FxPro was remided that the FPA wanted to hear from the CEO. The last message the FPA sent was on January 5th, 2020. FxPro’s representative waited until October 2020 to reply. The company is now refusing to further cooperation unless the FPA signs a non-disclosure agreement and refuses to allow the FPA to have an email exchange with the CEO.

The only reason the FPA can think of for requiring an NDA is that any report on the incident will incriminate someone in upper management who is still working for the company. There are 2 reasons we can think of for denying contact with the CEO. Either the CEO has not been made aware of the incident, or else the CEO does not care that the company has a history of using unethical methods to try to manipulate the reviews.

The FPA recommends AGAINST dealing with FxPro until the CEO steps in to resolve this situation.

Other websites of this company include,


FxPro is a forex broker. FxPro offers the MT4 and MT5, cTrader forex trading top platforms. offers over 70 forex currency pairs, cfds, shares, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

  • Information
  • Live Discussion
  • Profile
  • Video
  • 13 Widgets
  • More .

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 2006
Address: 13-14 Basinghall str., City of London, EC2V 5BQ, United Kingdom
Contact: [email protected], +44 (0) 203 151 5550
Regional offices:
Regulators: SCB #SIA-F184, CySEC #078/07, FSCA #45025, DFSA #F003333, FCA #509956
Prohibited countries:



Trading platforms: MT4, MT5, cTrader
Web Trading:
Mobile Trading:
Currencies: (70+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (195+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities






News Spike Trading:
Deposit Methods: Bank Wire, VISA, Neteller, PayPal, Skrill, Transfer from Existing Broker, UnionPay
Withdrawal Methods: Bank Wire, VISA, Neteller, PayPal, Skrill, Transfer from Existing Broker, UnionPay

Live discussion

Join live discussion of on our forum profile provided by FxPro, Dec 27, 2020

FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide.

FxPro offers no-dealing-desk execution with no conflicts of interest between the company and its clients. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market.

FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment.

FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052).

Risk Warning: Trading CFDs involves significant risk of loss.

Risk Disclosure:


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Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

Service use: Live

Length of use: 0-3 Months

I have been using FXPRO since January 2020, I have nothing to complain about, withdrawals fall into the account with an average of two days, since it took 10 days to fall into the account, support said it was a problem at my bank, until the date there have no problem then 4 stars.

Estou usando a FXPRO desde Janeiro de 2020, eu não tenho nada a reclamar, os saques caem na conta com dois dias em média uma vez demorou 10 dias para cair na conta, o suporte disse que era problema no meu banco, até a presente data eu não tenho nenhum problema, por isso 4 estrelas.

Service use: Live

Length of use: 6-12 Months

Stay light years away from FxPro. They stole around 99.9% of the balance on my trading account in January 2020. I had basically entire life savings there and they stole everything from me. When I requested refund, they closed my account. I had worst nightmares during entire 2020 year because of them, couldn’t have paid and still cannot anything. Everything I had was stolen by FxPro and put in their own wallet(s) of someone, most likely, from their accounting department.

In no time, my entire balance disappeared but they had probably stole money and closed my account when I had around 0.1% in positive balance so they returned this but declined to refund 99.9%. When I asked why they closed my account if I haven’t requested the closure and why they stole my money, they told me the trend directions changed like it was my failure.

The following person is the main thief in this scam broker, I tracked him down for everyone to see:

It’s sad how FxPro choose their victim as me where my entire financial career depends on this since I have no other income. All was dependent on that trading account and they stole everything. I will never be able to recover on my own for the damage they did to me.

Service use: Live

Length of use: over 1 Year

Horrible shi** broker. Every time I wanted put a BUY Limit order I had problems.
The order does NOT execute at the price you want.
Also, when it is 0:00 time, the rollover spread goes crazily high. I have lost trades where my STOP LOSS was 40 pips away. I had to start deleting my SL at 0:00 every time (which is very risky).. but I was very frustrated with losing a trade for no reason..

When you contact customer support, they always give you so many excuses and different reasons.

For depositing money it is very fast. for withdrawing money they ask you a lot of questions and constantly asking for your documentation.. even if I uploaded it many times already.


Service use: Live

Length of use: 0-3 Months

what is very remarkable : they only removed profits from very profitable orders, and they did not affect the order that was with a small profit and opened in the same period of time. FxPro are real scammers who can steal any of your money that they like they can disdain only small change. They stolen my 5600$.

Dec 11, 2020 – 1 Star Broker delete my profits . they not like profitable traders.I hope the broker just made a mistake and will return my money to me .

Service use: Live

Length of use: over 1 Year

Service use: Live

Length of use: 0-3 Months

Welcome to the FxProBot! Please write your question clearly or select the relevant option below:

FxProBot 15:03
Please allow me a moment to transfer you to an available agent

You have been transferred to: Alexandros.

——— 16:03
You are the sexing liar who told me that yesterday I can close my trade of us30 when market open

Alexandros 15:04
Yes you can close it when market is open

———- 16:04
But he jumped while the market close and didn’t even respect my SL you still saying yes shame on you

Alexandros 15:05
When market was closed you could not open or close any position sir

———– 16:06
You didn’t even respect the rules and still talk like a s*** technically you are going to close what the hell are you saying

Your words full of lies

Alexandros 15:07
What do you mean sir? Yesterday you wanted to close a position on this index. The market was closed so you could not close the position. You should close it before market close

———– 16:08
And you still talking as the good men in this case go hide your face couple of humping scammers but I’ll contact all the relegated comparinies by your broker this is called financial fraud closing trade automatically in the 23:16 then market close trade jump above the SL what the hell are you saying

Alexandros 15:09
What is the order number please?

———— 16:10
We’ve passed this part yesterday I’ve send them all the information now I’ll do my own steps towards you you still asking about the order number like you are going to give me expansion the Same poo will repeated but you personally a liar with no sense of humans

That what you should know couple of liars and promote themselves n1 in forex you are the numbers 1 in scamming

You rated our customer service as bad.

Alexandros 15:12
We are not scammers sir. We are a regulated company. Could you please provide me the order number you are referring to?

What you going to do you can’t do something toward it and the support team start them bullpoop like gaps and poos like we don’t know what happens in the markets ive spend 4 years in trading I’ve never ever saw this before

———— 15:14
I will check it with the execution department. And your account number please?

Nabil Ben Ghannou 16:14

No one of you want to lose them jobs that’s why all of you liying the department lies the support lies the agents lie everyone of you is lying I’m just a student had a goal to invest and make some shitty money from field and you took 94$ in a solo trade even the SL is 64$ this is insane 40$ for no reason+ the time of open markets and closing ain’t respected by the workers who the hell relegated this broker

Give me the companies that relegated this broker I’ll contact them now

Alexandros 15:19
You can send an email to [email protected] all your complains sir

———- 16:19
Do not say to your customers traders say to them donation people is better

Alexandros 15:21
Your position closed due to your stop loss with a slippage.

———– 16:20
I want to know the relegated comparinies I have my own proofs and I’ve contacted the support team they’ve start joking at me and I’ve made a withdrawal for the rest of balance to not make me loose the whole shit

Give me the companies name .

Alexandros 15:21
Thats why the position closed. The market was closed so you could not take any action. You should close your position before

Alexandros 15:23
FxPro UK Limited is authorised and regulated by the FCA since 2020. FxPro Financial Services Limited is authorised and regulated by the CySEC since 2007 and by the FSCA since 2020. FxPro Global Markets MENA Limited is authorised and regulated by the DFSA. FxPro Global Markets Limited is authorised and regulated by the SCB.

arbaaay, [27.12.19 15:49]
you can find everything you want here

——– 16:22
I’ve tried before two days in the 19:55 and in the Normal market should close in the 20:00 for Holliday’s but the guys want to chill and shmuze early with our money

Alexandros 15:24
You came yesterday on live chat. I explained you the US30 on spot was closed on 26th and 25th

———– 16:24
You repeated the whole poo while I’m giving you the truth you want to make me wrong or made me fool or you think I’m stupid or what are you trying to do

Alexandros 15:26
I am just explaining you the situation. You opened the position, you keep it open on 25th and 26th, then the market opened and your position closed due to stop loss with slippage

As there was a gap when market opened

If you wanted to close the position you should do it on 24th

I am just an agent, i do not move the market i do not make the rules

I am just explaining you what happened

———— 16:27
but if it’s like that why you make the closing date in the 01:01:01 while she closed at 23:15

Explain just this I’ll go with you step by step

you will see opening and closing times

Trading time (UK time) Sunday – Friday: 11:00 PM – 10:00 PM (Closes daily between 09:15 PM – 09:30 PM & 10:00 PM – 11:00 PM UK time)

25th and 26 closed as per the holidays caledar

———— 16:29
I’m talking about the trade Time of open and close explain this this whole poo I’ve read it 5 times yesterday

Do not change the subject

Explain to me why you close it in 23 and your official time to close in my official account is 01:01:01 are you a god or what

Alexandros 15:31
US30 closed on 24th at 20:15 GMT +2

————- 16:31
And I’ve tried to close it in the 19:55 while my closing order didn’t get activated

In the 24 of December

Alexandros 15:33
You can send an email with all your complaints for further investigation at [email protected]

On the 24th of the month you tried to deposit

Then you came back on chat on 26th

———– 16:37
After this I’ve didn’t sleep for two days to close the trade while agents like you are having fun and didn’t respect the time of work you write something and you say something else and the truth is too far away from your whole poop you are not a men really and you should respect the working time this is field of investment and there are real money in our accounts and your broker are full of jokes and there’s nothing clear there I’ve complain to the support Start sexed up with me like I’m noob at trading you want us to loose our money in this is your main goal not to help the investors to grow this is the ugly really but I’m saving this whole poop in my device to prove to the whole world the number 1 scammers

Alexandros 15:38
On 24th of the month you were trying to activate your account

———– 16:37
I’ve deposit last week even your information are totally wrong

Alexandros 15:38
You provided your uncle’s statement we rejected it

then we activated your account

then you came back on chat on 26th

why you didnt come on 24th?>

I have all the proof here

On 26th was the first time you came

Your position closed due to stop loss. Market was closed on 25th 26th you could not close or open position

if you want to complain

send email to [email protected]

———— 16:41
Now you are turning the table hhhh just have a clear vision to what are you writing here this all stuff wrong I send you my father’s electricity bill you reject it after that I’ve send you my own bank statement then you prove it after I’ve told you if you didn’t activate my account I’ll bring back the deposit look everything is clear and you are still arguing like

All your information are bad and you changed the subject why you make my closing date 01:01 while you close it in 23:15 this is my question?

Alexandros 15:43
Can you please send a complaint email to [email protected]?

arbaaay, [27.12.19 15:49]
aved the conversation you start acting like a dog and didn’t answer the main question Ill make the whole world knows your reality it’s just 94$

The support team is joking with the same poop you said like ghosts there they ain’t want to fix the problem they’ve make it more complicated thanks to God who showed me your real face

Alexandros 15:45
Ok then dont send it. I explained why: 1) couldnt close the position 2) why position closed on stop loss.

—————– 16:45
My other broker is the better than this shit at least they cover the mistake and give clean things and money after they stick in the facts you are just a scammer

Note: there’s a lot of this stuff behind the scene iwasn’t saved them cuz iv’ thought they’ll fix the problem and this all is in front of 2020 Guys this broker is a leggal Scammer if you want to choose i thonk probably other Australian Brokers are good cuz they’ve accept the complaint and cover losses as a goodwill and have a great team i didn’t promote to any broker but FXPRO are for donation if you put your money as a small trader and start to grow they’ll fight against you
and that’s why all the companies who relegate this broker may take from them money to relegated this broker
and i hope someone to help me to recover all my funds from them cuz this is unfaire may its just 380$ in balance if they took from each one of us 100$ then they’ll became billionairs in short period

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