Fxpro Launches BankPro: A Look into the Future of Trading and Financial Management

Before deciding whether and when to invest in trading, every investor demands that their funds be managed by the broker with the utmost security, quickly and with reasonable rates and commissions.

Traders around the world are constantly in search of a banking service that meets their needs, one that is primarily flexible, convenient, and transparent. In short, a service that allows them to manage their finances with ease and clarity, quickly assess the costs involved, and conduct any transaction with security and speed.

All of this is now possible thanks to FXPro. A leader in the industry that needs no introduction, the international broker FXPro has recently launched a new and exciting service: BankPro.

BankPro is an innovative financial hub created by the broker to provide the trader with professional investment services of the highest quality and with extremely competitive commissions and rates.

A digital bank designed with the goal of simplifying financial transactions and international investments, BankPro allows traders to manage their finances optimally and to invest with extreme simplicity in markets around the world. All with very high standards of security.

By opening an account and making a deposit, the trader will receive a Visa Platinum Card that can be used for any transaction and in any part of the world with speed and security. Moreover, by accessing the web platform or downloading the app (available on any Android and IOS device) one can invest in a wide range of instruments, including stocks, ETFs, and CFDs on: forex, precious metals, cryptocurrencies, stocks, ETFs.

International SWIFT Transfers.

Possibility to transfer funds from anywhere in the world with simplicity and security through the SWIFT transfer service.

Multi-currency Account.

Flexible and easy international transactions thanks to more than 22 available currencies with minimal rates.

Immediate Internal Transfers.

Any transfers of funds between BankPro accounts will be instantaneous and without any commission.

Facilitated Registration.

Structured to minimize registration times, the trader can provide the required data and register in just a few minutes.

Visa Cards.

Withdrawals from any ATM in any country worldwide to better manage one’s finances and make purchases.

24/7 Support.

A continuously active support team for any eventuality, composed of professionals in the field carefully selected.

Trading stocks and ETFs.

More than 2,500 stocks and ETFs from major markets in the EU, the US, and the UK, all available both on the app and the web platform.

CFD Trading.

A wide range of CFD instruments including 200 currencies, metals, stocks, and ETFs.

Trading.

• Customizable screening tools to create investment plans fully compatible with one’s own modus operandi.
• Easy-to-use screener, customizable watchlist, and advanced filters.
• Portfolio analysis tools to optimize one’s investments.
• Wide range of instruments to invest in.
• Real-time accessible prices and instant execution.
• Possibility to create lists of favorite instruments to invest in and price alerts.

Financial Operations.

• Possibility to make purchases anywhere in the world with advantageous exchange rates and zero hidden commissions.
• Total and instant control over expenditures made.
• Opening of multiple accounts in different currencies.
• International transactions via bank transfers.
• Intuitive and fast account registration and setup via app.

Visit the official FxPro website and access BankPro

Banking Operations

As mentioned, BankPro was created with the intention of offering traders a futuristic, flexible, and advantageous online banking service. Traders will be able to send and receive funds with utmost simplicity and without hidden commissions. Being strictly regulated, the bank offers a transparent service with very high security standards, a fundamental feature to establish a relationship with the client based solely on full trust.

• Possibility to open multiple accounts simultaneously with more than 10 currencies available.
• Direct transactions on one’s own account from anywhere in the world.
• Instant transfers from current account to Invest account, another virtual card, or additional currency accounts.
• Possibility to set daily and monthly spending limits to better manage the deposited funds.
• Each client will receive their own international BankPro account number.
• Payments and deposits can be made in various currencies with extremely advantageous exchange rates.
• Maximum transparency with the entire payment history. The trader will also be able to create statements at any time.
• Real-time push notifications for payments made.

Visa Platinum Card

Created to allow traders full control of their finances, the Visa Platinum Card is an indispensable tool for proper fund management and an excellent financial experience.

Every trader will receive a physical and a virtual card for free, which can be used for any operation with ease, speed, and maximum security.

• Higher spending limit.
• Possibility to request more physical or virtual cards.
• Advanced analysis of expenses made via card.
• International withdrawals via ATMs.
• Possibility to freeze and unlock cards with ease, report loss or theft, and modify spending and withdrawal limits.

Rates and Commissions

In addition to offering high-performance service to allow traders of any level access to a professional environment, BankPro features extremely competitive commissions and rates.

To receive banking and investment services, the trader will pay a fee of $5 monthly. The fee includes real-time prices from the NASDAQ and LSE exchanges. The trader will also have access to other prices available with access to the Invest platform. Euronext Paris, Euronext Lisbon, Euronext Amsterdam, and XETRA for just €1 per month and NYSE for $10 per month.

The activation plan is as follows:

Trading Costs and Commissions

Below, a detailed illustration of the costs and commissions to be incurred in order to invest

LSE – London Stock Exchange

Stamp Duty.

Tax that the trader will have to bear for purchasing shares of a company legally registered in the United Kingdom. Applied only on purchase positions, the stamp duty is equivalent to 0.5% of the total transaction value.

PTM Levy.

Acronym for Panel of Takeovers and Mergers, the PTM is effectively a regulatory body that ensures traders investing in stocks are treated fairly in the event of public takeover offers. A fixed commission of £1 will be automatically charged for any transaction with a value greater than £10,000 at the London Stock Exchange. If the value of the transaction is less than £10,000, no PTM will be applied.

NYSE and NASDAQ

Clearing Fees.

To trade on US exchanges, the trader will have to bear a fixed commission of $ 0.0002 per transaction.

FINRA TAF.

Financial sector regulatory body in the US, FINRA is responsible for overseeing and regulating brokers and exchanges. The TAF (Trading Activity Fee) will be applied only on sales transactions and is equal to $ 0.000119 per share with a maximum commission of $ 5.95.

Transaction Commissions.

A transaction commission of 0.00051% of the total transaction value will be applied on all sales transactions.

Exchange Fees.

Calculated on each individual stock traded, the fixed exchange commission is $ 0.003.

Euronext Paris

Euronext Clearing Fees.

Euronext Exchanges charges a fixed clearing fee of € 0.04 on each transaction made.

Euronext Exchange Fees.

The trader will have to pay a fixed fee of € 0.15 on each transaction. This cost will be charged only once on each single transaction, regardless of the size of the investment. As for the variable exchange fee, the trader will have to bear a cost of 0.0095%, calculated on the total value of the transaction. Both fees will be charged on orders executed on Euronext exchanges.

French FTT – Financial Transaction Tax.

Tax due for the purchase of shares of a company headquartered in France. Applied only on purchase positions, the financial transaction tax is equal to 0.3% of the total transaction value.

Euronext Lisbon

Euronext Brussels

Euronext Amsterdam

XETRA – Deutsche Börse

XETRA Replacement Commission

Variable exchange commission calculated on the total value of the transaction amounting to 0.0048%. The minimum amount that each trader will have to bear is 0.60 €. This means that if 0.0048% of the total value of the transaction is less than the aforementioned sum, the commission will be 60 cents. The maximum fee is 72 €.

XETRA Regulatory Commission.

The XETRA exchange applies a fixed regulatory fee of 0.01 € on each transaction made. The trader will have to bear the cost once for each single transaction, regardless of the volume of the latter.

Clearing Commissions.

XETRA Exchange requires the payment of a fixed commission of €0.03 per transaction. Regardless of the volume of the transaction, the commission will not change. Regarding the variable clearing commission, the trader will have to bear a cost equal to 0.001% of the total value of the transaction (up to a maximum of 5 €). Both commissions are applicable only on orders placed on XETRA exchange.

Transaction Value Commission.

Fee applied by BankPro (through FxPro Global Markets Ltd) to be able to carry out operations, the commission on the value is equal to 0.25% of the total value of an operation carried out on all available exchanges (except for NYSE and NASDAQ where the applied commission is $ 0.0335 for each share traded).

ADR Pass-Through Commissions.

Commission charged by ADR depository banks, necessary to cover all costs arising from the creation and provision of custody services on behalf of the ADR. Variable cost that oscillates between $ 0.01 and $ 0.03, will be collected by subtracting it from the ADR dividend before the trader can cash it. However, in the event that an ADR does not regularly pay dividends, the cost of the commission will be collected by the broker in possession of the ADRs. ADR commissions charged to BankPro, will be automatically transferred and subsequently paid by the ADR trader. In the transaction history carried out, the investor will be able to view every detail of the ADR pass-through commissions.

Visit the official FxPro website and access BankPro

Security

To be able to perform financial activities online, security is fundamental. Protection and high security standards are essential factors that every trader must verify before conducting any transaction. Being strictly regulated, BankPro offers a service with very high levels of protection and security that allow the customer to carry out transactions, invest and provide sensitive data without any concerns. For example, by accessing various functions available on the app, the trader can set passcodes, Touch ID, facial recognition

Regarding the dedicated app, by accessing the various functions the trader can set passcodes, Touch ID, facial recognition. To enable them, just access the app settings. Moreover, as an additional security measure, it will be necessary to enter a verification code or receive a call at the registered phone number

How does BankPro protect customer data?

The company adopts stringent security measures to protect clients, their personal information, privacy, and funds.

• Very high levels of data encryption are used both on the website and on the apps.
• A sophisticated software for detection performs continuous checks to intercept irregular activities in online payments.
• All transactions are carried out only through the BankPro app.
• A manager exclusively in charge of data protection will ensure the management of personal information complies with the current rules.
• Automated verifications via email for any password changes of the account.
• In the event that the trader wants to change their personal information, BankPro will verify that it was indeed the customer who requested this specific operation.

Are the funds safe?

Being strictly regulated, the company adheres to strict security standards and guarantees traders very high protection measures in the handling of funds Moreover, all client funds will be held in segregated accounts, separate from those of the company.

How are the invested funds protected?

For traders residing in the United Kingdom, both trading and stock investment are managed by FxPro UK Ltd, a company authorized and regulated by the FCA. In the event that the company fails to fulfill its contractual obligations, traders with an account at FxPro UK Ltd will be entitled to compensation from the Financial Services Compensation Scheme up to £85k. Traders residing in the remaining EU countries can invest with FxPro Financial Services Ltd, authorized and regulated by CySec. All clients residing in Europe have the right to receive a Compensation System up to €20k, in case of insolvency by the company.

What happens if Bankpro becomes insolvent?

First, the company holds client funds in accounts separate from the company’s assets. Assuming insolvency, the assets will be held separately from any other BankPro asset. Bankruptcy trustees will not have the right to use the trader’s funds to cover any debts.

It’s important to know that:

• The company does not allow the use of cryptocurrencies to trade or to make a potential payment/deposit.
• BankPro will not be able to access the password or other sensitive information of the client.
• The company will never ask the trader to make transfers of funds between accounts. Any payment can be made through the BankPro app or the online portal.
• The services available do not include asset management or the guarantee of any returns on investment.
• The bank will not influence the trader’s decisions with investment advice or other promotional information.

Visit the official FxPro website and access BankPro

Opening a BankPro Account

To open a new account with BankPro, the trader will need to download the app and enter all the requested data. The procedure is simple and quick, and the software is extremely intuitive and easy to use.

To open an account with BankPro, simply follow these easy steps:

First step.

To start, the trader will need to download the BankPro app on their mobile device. The software is compatible with any mobile device and the trader can download it by accessing their store.

Second step.

Once the app is downloaded, click on “open account”, enter the country of residence, a valid email, set a secure password. Click on send. Provide your phone number to receive the verification code. Once received, enter it in the appropriate space and click on “Next”.

Third step.

In this phase, the trader will need to provide all the requested information: title, first name, last name, date of birth, nationality. Click on “confirm”. On the new page, enter: complete address and click on “Next”.

Fourth step.

Now, the trader will need to answer some questions that allow the company to understand the reasons for opening the account, how much one is willing to deposit or invest, any trading experience, and other details concerning trading tools and negotiation preferences. Once all the requested information is provided, click on “Next”.

Last step.

The account is open. To be able to start using the service offered, the trader will need to go through a verification process in which they must prove their identity and country of origin. To do so, they must send a clear front and back photo of a valid identification document and a recent bill of a service (electricity, gas, internet) containing the complete address.

Visit the official FxPro website and access BankPro