How to Trade Forex and Withdraw Money from FxPro

How to Trade Forex on FxPro

How to place a New Order on FxPro MT4

Initially, please download and log in to your FxPro MT4. If you don’t know how to do so, please refer to this article with detailed and simple instructions: How to Login to FxPro

Please right-click on the chart, then click “Trading” and select “New Order” or double-click on the currency you want to place an order on in MT4, then the Order window will appear.
Symbol: Ensure that the currency symbol you wish to trade is displayed in the symbol box.

Volume: Decide the size of your contract. You can either click the arrow to choose the volume from the drop-down options or left-click in the volume box and type in the desired value. Remember that your contract size directly impacts your potential profit or loss.

Comment: This section is optional, but you can use it to add comments to identify your trades.

Type: The type is set to Market Execution by default:

• Market Execution: Executes orders at the current market price.

• Pending Order: Allows you to set a future price at which you intend to open your trade.

Finally, choose the order type to open — either a sell or a buy order:

• Sell by Market: Opens at the bid price and closes at the ask price. This order type may bring profit if the price goes down.

• Buy by Market: Opens at the asking price and closes at the bid price. This order type may bring profit if the price goes up.

Once you click on either Buy or Sell, your order will be processed immediately. You can check the status of your order in the Trade Terminal.

How to place a Pending Order on FxPro MT4

How Many Pending Orders

Unlike instant execution orders, where trades are placed at the current market price, pending orders allow you to set orders that will be executed once the price reaches a specific level chosen by you. There are four types of pending orders, which can be grouped into two main categories:

• Orders expecting to break a certain market level.

• Orders are expected to bounce back from a certain market level.

Buy Stop

This order allows you to set a buy order above the current market price. For example, if the current market price is $20 and you set a Buy Stop at $22, a buy (or long) position will be opened once the market reaches $22.

Sell Stop

This order allows you to set a sell order below the current market price. For instance, if the current market price is $20 and you set a Sell Stop at $18, a sell (or short) position will be opened once the market reaches $18.

Buy Limit
 
This order is the opposite of a Buy Stop, allowing you to set a buy order below the current market price. For example, if the current market price is $20 and you set a Buy Limit at $18, a buy position will be opened once the market reaches the $18 level.

Sell Limit

This order allows you to set a sell order above the current market price. For instance, if the current market price is $20 and you set a Sell Limit at $22, a sell position will be opened once the market reaches the $22 level.
 

Opening Pending Orders

You can open a new pending order by double-clicking on the name of the market in the Market Watch module. This will open the new order window, where you can change the order type to "Pending Order".

Next, choose the market level at which the pending order will be activated and set the position size based on the volume.

If needed, you can also set an expiration date (Expiry). Once you have configured all these parameters, select the desired order type based on whether you want to go long or short and whether you’re using a stop or limit order. Finally, click the "Place" button to complete the process.

Pending orders are powerful features of MT4. They are especially useful when you can’t constantly monitor the market for your entry point or when the price of an instrument changes quickly, ensuring you don’t miss the opportunity.

How to close Orders on FxPro MT4

To close an open position, click the "x" in the Trade tab of the Terminal window.

Alternatively, right-click the line order on the chart and select "Close".

If you want to close only a part of your position, right-click on the open order and select "Modify". In the Type field, choose instant execution and specify the portion of the position you want to close.

As you can see, opening and closing trades on MT4 is very intuitive and can be done with just one click.
 

Using Stop Loss, Take Profit, and Trailing Stop on FxPro MT4

One of the keys to long-term success in financial markets is effective risk management. Therefore, incorporating stop losses and taking profits into your trading strategy is essential.

Let’s explore how to use these features on the MT4 platform to help you limit risk and maximize your trading potential.
 

Setting Stop Loss and Take Profit

The simplest way to add a Stop Loss or Take Profit to your trade is by setting it up when placing new orders.

To set a Stop Loss or Take Profit when placing a new order, simply enter your desired price levels in the Stop Loss and Take Profit fields. The Stop Loss will automatically trigger if the market moves against your position, while the Take Profit will trigger when the price reaches your specified target. You can set the Stop Loss level below the current market price and the Take Profit level above it.

Remember, a Stop Loss (SL) or Take Profit (TP) is always linked to an open position or a pending order. You can adjust these levels after opening a trade while monitoring the market. Although they are not mandatory when opening a new position, adding them is highly recommended to protect your trades.
 

Adding Stop Loss and Take Profit Levels

The easiest way to add SL/TP levels to an already open position is by using the trade line on the chart. Simply drag and drop the trade line up or down to your desired level.

Once you’ve set the SL/TP levels, the SL/TP lines will appear on the chart, allowing you to easily modify them as needed.

You can also adjust SL/TP levels from the bottom "Terminal" module. To do this, right-click on your open position or pending order and select "Modify" or "Delete" order.

The order modification window will appear, allowing you to enter or adjust SL/TP levels either by specifying the exact market price or by defining the points range from the current market price.

Trailing Stop

Stop Losses are designed to limit losses when the market moves against your position, but they can also help you lock in profits.

While it may seem counterintuitive, this concept is easy to understand. For example, if you’ve opened a long position and the market moves favorably, making your trade profitable, you can move your original Stop Loss (set below your open price) to your open price to break even, or even above the open price to secure a profit.

To automate this process, you can use a Trailing Stop. This tool is particularly useful for managing risk when price movements are rapid or when you can’t constantly monitor the market. As soon as your position becomes profitable, the Trailing Stop will automatically follow the price, maintaining the previously set distance.

Please remember that your trade must be profitable by a sufficient amount for the Trailing Stop to move above your open price and guarantee a profit.

Trailing Stops (TS) are linked to your open positions, but keep in mind that MT4 needs to be open for the Trailing Stop to be executed successfully.

To set a Trailing Stop, right-click the open position in the "Terminal" window and specify your desired pip value for the distance between the TP level and the current price in the Trailing Stop menu.

Your Trailing Stop is now active, meaning it will automatically adjust the stop loss level if the price moves in your favor.

You can easily disable the Trailing Stop by selecting "None" in the Trailing Stop menu. To quickly deactivate it for all open positions, choose "Delete All".

MT4 offers multiple ways to protect your positions quickly and efficiently.

While Stop Loss orders are effective for managing risk and keeping potential losses in check, they don’t offer 100% security.

Stop losses are free to use and help protect your account from adverse market moves, but they cannot guarantee execution at your desired level. In volatile markets, prices may gap beyond your stop level (jump from one price to the next without trading in between), which can result in a worse closing price than expected. This is known as price slippage.

Guaranteed Stop Losses, which ensure your position is closed at the requested Stop Loss level without the risk of slippage, are available for free with a basic account.

Frequently Asked Questions (FAQ)

Currency Pair, Cross Pairs, Base Currency, and Quote Currency

Currency pairs represent the exchange rate between two currencies in the foreign exchange market. For example, EURUSD, GBPJPY, and NZDCAD are currency pairs.

A currency pair that does not include USD is referred to as a cross pair.

In a currency pair, the first currency is known as the "base currency," while the second currency is called the "quote currency."
 

Bid Price and Ask Price

The Bid Price is the price at which a broker will buy the base currency of a pair from the client. Conversely, it is the price at which clients sell the base currency.

The Ask Price is the price at which a broker will sell the base currency of a pair to the client. Similarly, it is the price at which clients buy the base currency.

Buy orders are opened at the Ask Price and closed at the Bid Price.

Sell orders are opened at the Bid Price and closed at the Ask Price.
 

Spread

The spread is the difference between the Bid and Ask prices of a trading instrument and is the primary source of profit for market maker brokers.

The spread value is measured in pips.FxPro provides both dynamic and stable spreads across its accounts.
 

Lot and Contract Size

A lot is a standard unit size of a transaction. Generally, one standard lot equals 100,000 units of the base currency.

Contract size refers to the fixed amount of base currency in one lot. For most forex instruments, this is set at 100,000 units.
 

Pip, Point, Pip Size, and Pip Value

A point represents a price change in the 5th decimal place, while a pip signifies a price change in the 4th decimal place.

In other words, 1 pip equals 10 points.

For example, if the price moves from 1.11115 to 1.11135, the change is 2 pips or 20 points.

Pip size is a fixed number that indicates the position of the pip in the instrument’s price. For most currency pairs, such as EURUSD, where the price is displayed as 1.11115, the pip is at the 4th decimal place, so the pip size is 0.0001.

Pip Value represents the monetary gain or loss for a one-pip movement. It is calculated using the formula:

Pip Value = Number of Lots x Contract Size x Pip Size.

Our trader’s calculator can help you determine these values.
 

Leverage and Margin

Leverage is the ratio of equity to borrowed capital and directly affects the margin required for trading an instrument. FxPro provides up to 1
leverage on most trading instruments for both MT4 and MT5 accounts.

Margin is the amount of funds held in the account currency by a broker to keep an order open.

Higher leverage results in a lower margin requirement.
 

Balance, Equity, and Free Margin

Balance is the total financial result of all completed transactions and deposit/withdrawal operations in an account. It represents the amount of funds available before opening any orders or after closing all open orders.

The balance remains unchanged while orders are open.

When an order is opened, the balance combined with the profit or loss of the order equals Equity.

Equity = Balance +/- Profit/Loss

Part of the funds is held as a Margin when an order is open. The remaining funds are referred to as Free Margin.

Equity = Margin + Free Margin
Balance is the total financial result of all completed transactions and deposit/withdrawal operations in an account. It represents the amount of funds available before opening any orders or after closing all open orders.

The balance remains unchanged while orders are open.

When an order is opened, the balance combined with the profit or loss of the order equals Equity.

Equity = Balance +/- Profit/Loss

Part of the funds is held as a Margin when an order is open. The remaining funds are referred to as Free Margin.

Equity = Margin + Free Margin
 

Profit and Loss

Profit or Loss is determined by the difference between the closing and opening prices of an order.

Profit/Loss = Difference between closing and opening prices (in pips) x Pip Value

Buy orders profit when the price rises, whereas Sell orders profit when the price falls.

Conversely, Buy orders incur a loss when the price drops, while Sell orders lose when the price increases.
 

Margin Level, Margin Call, and Stop Out

The Margin Level represents the ratio of equity to margin, expressed as a percentage.

Margin Level = (Equity / Margin) x 100%

A Margin Call is a warning issued in the trading terminal, indicating that additional funds need to be deposited or positions need to be closed to prevent a stop-out. This alert is triggered when the Margin Level reaches the Margin Call threshold set by the broker.

A Stop Out occurs when the broker automatically closes positions once the Margin Level drops to the Stop Out level established for the account.
 

How to check your trading history

To access your trading history:

From Your Trading Terminal:

• MT4 or MT5 Desktop Terminals: Navigate to the Account History tab. Note that MT4 archives history after a minimum of 35 days to reduce server load, but you can still access your trading history through log files.

• MetaTrader Mobile Applications: Open the Journal tab to view the history of trades performed on your mobile device.

From Monthly/Daily Statements: FxPro sends account statements to your email daily and monthly (unless unsubscribed). These statements include your trading history.

Contacting Support: Reach out to the Support Team via email or chat. Provide your account number and secret word to request account history statements for your real accounts.
 

Is it possible to lose more money than I deposited?

FxPro offers Negative Balance Protection (NBP) for all clients, regardless of their categorization jurisdiction, thereby ensuring that you cannot lose more than your total deposits.

For more details please refer to our ‘Order Execution Policy’.

FxPro also provides a stop-out level, which will cause trades to be closed when a certain margin level % is reached. The stop-out level will depend on the account type and jurisdiction under which you are registered.

How to Withdraw from FxPro

Withdrawal rules

Withdrawals are available 24/7, giving you constant access to your funds. To withdraw, visit the Withdrawal section in your FxPro Wallet, where you can also check the status of your transaction under Transaction History.

However, keep in mind the following general rules for withdrawals:

• The maximum withdrawal amount is 15,999.00 USD (this is applied for all the withdrawal methods).

• Kindly be informed that to withdraw via the Bank Wire method, you should first refund all your recent Credit Card, PayPal, and Skrill deposits. The funding methods that need to be refunded will be clearly displayed to you in your FxPro Direct.

• Please note that for the withdrawal to be successful, you should transfer your funds to your FxPro Wallet. For the method using Bank Cards and Cryptocurrencies, the withdrawal amount must be equal to the deposit amount, while the profit will be automatically transferred via Bank Transfer.

• You must follow our withdrawal policy which instructs that clients must withdraw via the same method used to deposit unless that method has been fully refunded or refund limits have expired. In this case, you may use a bank wire method, or an e-wallet previously used to fund (as long as it can accept payments) to withdraw profits.

• FxPro does not charge any fees/commission on deposits/withdrawals, however, you may be subject to fees from banks involved in the case of bank transfers. Please note that for e-wallets, there may be a fee for withdrawals, if you have not traded.
   

How to Withdraw Money [Web]

Bank Card

First, log in to your FxPro Dashboard. Then, select FxPro Wallet from the left sidebar and click the "Withdrawal" button to start.

Please note that we accept Credit/Debit cards including Visa, Visa Electron, Visa Delta, MasterCard, Maestro International, and Maestro UK.
 

Next, enter the amount you wish to withdraw in the corresponding field. Then, select the "Withdraw" option as "Credit/Debit Card" and click the "Withdraw" button to continue.

Next, a form will appear for you to enter your card information (if you’re using the same card that you previously used to deposit, you can skip this step):

1. Card number

2. Expiry date.

3. CVV.

4. Please carefully check again the withdrawal amount.

Once you make sure every field is correct, click "Withdraw" to proceed.

Input the verification code that was sent to you via email or SMS, and then click "Confirm".

A message will confirm the request is complete.

Electronic Payment Systems (EPS)

To get started, log into your FxPro Dashboard. Once inside, navigate to the left-hand sidebar, find FxPro Wallet, and hit the "Withdrawal" button to initiate the process.

Now, input the desired withdrawal amount in the designated field. Choose one among the available EPS such as Skrill, Neteller,... as your withdrawal method, then proceed by clicking the "Withdraw" button to move forward.

Enter the verification code you received through email or SMS, and then click "Confirm" to proceed.

Congratulations, your withdrawal will now begin processing.

Cryptocurrencies

To begin, access your FxPro Dashboard. From there, locate the left-hand sidebar, find FxPro Wallet, and press the "Withdrawal" button to initiate the withdrawal process.

Please note that the External Wallet you used for your deposit will also be the default destination for your withdrawal (this is mandatory).

Now, enter the amount you wish to withdraw in the designated field. Select one of the available currency options like Bitcoin, USDT, or Ethereum as your withdrawal method, and then click the "Withdraw" button to proceed.

You can also refer to some other cryptocurrencies in the "CryptoPay" section. Please click "Proceed" to come to the scroll-down menu.

They have a variety of cryptocurrencies for you to select.

Next, please input the verification code sent to you via email or SMS, and then click "Confirm" to continue.

Local Payment - Bank Transfers

To get started, log into your FxPro Dashboard. Once inside, navigate to the left-hand sidebar, find FxPro Wallet, and hit the "Withdrawal" button to initiate the process.

Now, input the desired withdrawal amount in the designated field. Choose one among the available options in Local Payment or Bank Transfer as your withdrawal method, then proceed by clicking the "Withdraw" button to move forward.

On the next page, a form will appear for you to fill in (if you chose the bank details same as the one you used to deposit, you can skip this form):

1. Bank Province.

2. Bank City.

3. Bank Branch Name.

4. Bank Account Number

5. Bank Account Name.

6. Bank Name.

Once you complete the form as well as make sure every field is correct, please finish by clicking the "Withdraw" button.

A final screen will confirm that the withdrawal action is complete and the funds will be reflected in your bank account once processed.

 You can always track the transaction status in the Transaction History section.

How to Withdraw Money [App]

To begin, please open the FxPro Mobile App on your mobile devices, then click the "Withdraw" button in the FxPro Wallet section.

On the next page, you will need to:

1. Fill in the field the amount of money that you wish to withdraw, which must be at least 5.00 USD and less than 15.999 USD, or your FxPro Wallet balance (the minimum and maximum of the withdrawal amount would vary up to the withdrawal method).

2. Please select the payment method that you wish to use. However, please note that you can only choose the ones that you used to deposit (this is mandatory).

Once you finish, please click "Proceed" to go to the next page.

Depending on your withdrawal method, the system would require some necessary information. 

With the QR Bank Transfer, we have to provide:

1. Account name.

2. Account number.

3. Bank branch name.

4. Bank city.

5. Bank name.

6. Bank Province.

7. The Wallet you wish to withdraw from.

After carefully checking all the fields and making sure they are correct, please tap the "Proceed to confirmation" to finish the process.

Congratulations! With just a few simple steps, you now can withdraw your funds from the FxPro Wallet so quickly with the mobile app!

Frequently Asked Questions (FAQ)

Can I change my FxPro Wallet (Vault) currency?

To avoid potential conversion fees, your FxPro Wallet should be in the same currency as your deposits and withdrawals.
 

What conversion rates do you use?

FxPro clients benefit from some of the most competitive exchange rates on the market.

For deposits from an external funding source (i.e., from your credit card to your FxPro Wallet in another currency) and withdrawals to an external funding source ( i.e., from your FxPro Wallet to a credit card in another currency), funds will be converted as per the daily bank rate.

For transfers from your FxPro Wallet to a trading account of a different currency, and vice versa, the conversion will be made as per the rate displayed on the pop-up screen at the time you click confirm.
 

How long should I wait for my withdrawal to reach my bank account?

Withdrawal requests are processed by our Client Accounting Department within 1 working day. However, the time needed for the funds to be transferred will vary, depending on your payment method.

International Bank Wire withdrawals may take 3-5 working days.

SEPA and local bank transfers may take up to 2 working days.

Card withdrawals may take around 10 working days to reflect

All other payment method withdrawals are usually received within 1 working day.
 

How long does it take to process my withdrawal request?

During normal working hours, withdrawals are usually processed within a few hours. If the withdrawal request is received outside working hours, it will be processed the next working day.

Bear in mind that once processed by us, the time taken for your withdrawal to reflect will depend on the payment method.

Card withdrawals can take around 10 working days and International Bank Transfers may take 3-5 business days depending on your bank. SEPA and local transfers usually reflect within the same business day, as do e-wallet transfers.

Please note that although card deposits are processed immediately, this does not mean that funds have already been received in our bank account as the bank clearing procure usually takes some days. However, we credit your funds immediately to be able to trade instantly and protect open positions. Unlike deposits, the withdrawal procedure takes longer.
 

What should I do if I have not received my withdrawal?

If you have made a withdrawal request via Bank Transfer and have not received your funds within 5 working days, please contact our Client Accounting Department at [email protected], and we will provide you with a Swift Copy.

If you have made a withdrawal request via Credit/Debit Card and have not received your funds within 10 working days, please contact our Client Accounting Department at [email protected] and we will provide you with the ARN number.
 

Conclusion: Effortless Forex Trading and Easy Withdrawals on FxPro

Trading forex and withdrawing your earnings on FxPro is a hassle-free experience, designed to keep your focus on the market. The platform’s user-friendly tools ensure that executing trades is straightforward, while withdrawals are processed quickly and securely. Whether you’re moving profits to your bank account or reinvesting them, FxPro offers a smooth and reliable process, helping you manage your trading activities with confidence and ease.