FxPro: the account this site links to

The legal entity and the regulator it names

FxPro 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 is named in the client agreement. A reader opening an account from India should read that agreement and find the exact legal entity, then search that entity on the regulator’s own register. The FCA and CySEC both keep public registers searchable by name or number; the Securities Commission of The Bahamas does the same. The entity named in the agreement is the one that owes the reader duties, and the regulator named is the one that supervises it.

This site does not state that FxPro is licensed, registered or supervised in India. The FIU register listed on these pages is for virtual digital asset service providers under Indian anti-money-laundering law, and an overseas broker offering crypto CFDs is not the same thing as an exchange registered with the FIU. A reader should not take the existence of this site’s table as a substitute for checking the broker’s own legal documents. The client agreement is the document that states which entity and which regulator apply, and it is the first thing to read before any money moves.

Owning a coin versus holding a crypto CFD

FxPro offers crypto as contracts for difference, which are price contracts. The client does not hold coins, and the account is not a wallet. A CFD pays or charges the difference between the opening and closing price of the underlying asset; no coin is delivered at any point. This is different from buying a virtual digital asset on a registered Indian exchange and withdrawing it to a wallet the reader controls. The tax treatment also differs: Indian tax law applies to gains from virtual digital assets, but a CFD is a derivative contract, and the way gains from it are taxed is a matter for the reader’s own tax adviser.

A reader who wants to hold coins should not use a CFD account for that purpose. The FIU register says nothing about custody of coins; it is a list of reporting entities, not a guarantee that an exchange will return coins. FxPro states that client money is held separately from the company’s own funds, and that negative balance protection applies to all clients, but those statements are about the broker, not about the safety of any crypto asset. A CFD is a leveraged product, and the client can lose more than the amount deposited, subject to the negative balance protection.

What to read before opening an account from India

The client agreement and the risk warning are the two documents to read in full. The risk warning states that CFDs are leveraged and carry a high risk of losing the money deposited. Leverage limits differ by regulating entity, and the maximum leverage available to a client from India is set by the entity named in the agreement. The client agreement sets out the fees, the circumstances in which the broker can close positions, and the terms for deposits and withdrawals. A reader should check whether the broker accepts deposits from India, and through which methods, before opening an account.

FxPro states that it offers MetaTrader 4, MetaTrader 5, cTrader, a browser platform and a mobile app, and that a practice account exists. A reader can use the practice account to see the screens and test the platform without risking money. This site does not give advice on whether to trade, and it does not promise profit or safety. The decision to open an account is the reader’s alone, and it should be made after reading the documents the broker provides, not after reading this page.

FxPro is not registered with SEBI. Its accounts are opened with group companies authorised outside India, by the FCA in the United Kingdom and CySEC in Cyprus, so an Indian resident is the client of a foreign firm and the protections owed by a SEBI-registered broker do not follow. Indian foreign exchange rules govern any remittance abroad and do not allow money to be sent overseas as margin for leveraged trading. This site offers no investment advice.