FxPro Offshore Trading Account
Let me show you how to leverage up to 200 times with FxPro, even if you live in a country where leverage is capped. This will be of interest whether you’re a new or an existing FxPro customer.
Maximum Leverage (up to 1:200)
FxPro operates through 3 companies, one of which is registered in the Bahamas, a country famous for its sandy beaches and swimming pigs. If you're looking for a high leverage account, you'll need to open an account with its Bahamian entity.
With its offshore trading account, you can leverage up to 200 times on Forex, precious metals and indices, and up to 20 times on cryptocurrencies. The following table compares the leverage available through FxPro's Bahamian entity, against that available through its other entities (in the UK, Europe and South Africa), asset class. by asset class.
|Asset class||Max. leverage in the Bahamas||Max. leverage in the UK, EU and ZA|
|Gold & Silver||1:200||1:20|
Please note that the maximum available leverage may be lower across certain instruments. As leverage is flexible on FxPro's platform, you may also adjust it to your liking, or use none at all if you prefer - the choice is yours.
Bahamas Account Opening Steps
Now, the good news is that you don’t need to live in the Bahamas to open an account there. Follow this link to go straight through to the Bahaman account opening page on FxPro's website. You'll know you're registering with the BHS-entity when the words "FxPro Global Markets Ltd" appear at the bottom of the page. This is because FxPro serves its global clients from this entity.
And if you're already an FxPro customer, you'll need to open a new account under a different email address. You won't be able to move your account, and any positions you may have opened, from one regulator to another.
So, how safe is your money? FxPro will keep your money in segregated accounts, separate from its own funds. This is a regulatory requirement if you open an account with FxPro's entities in the UK or the EU. But FxPro will abide by the same rules when you open an account in the Bahamas.
You'll also enjoy negative balance protection at all times, even if you open an account in the Bahamas. This means that your account's balance will never become negative. In other words, you cannot lose more money than you deposit. This is another UK and EU regulatory requirement that FxPro has carried over to the Bahamas.
However, you won't have access to an investor compensation fund if you open an account with FxPro's Bahamian entity. In contrast, traders who register with FxPro's entities regulated in the UK and the EU will be covered by these countries' investor compensation funds. These funds are the institutions you'd turn to if FxPro stopped trading or went into bankruptcy, and was either unable or unlikely to repay any claims you had against it.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.