A trading account with FxPro
FxPro is an international broker. This site is not the broker and takes no money from you. FxPro quotes currency pairs, including the dollar against other currencies, as contracts for difference. No cash dollars are bought, delivered or counted out.
A contract on the dollar against another currency, beside cash that is counted out across a counter
A contract for difference is an agreement to exchange the difference in price of a currency pair between the time the contract is opened and the time it is closed. It is settled in the account's currency and gives no right to a single banknote. This is not the same as buying dollars over a counter, where cash is counted out and a receipt is given.
The open-market counter rate is a cash price. The broker's contract is a price exposure. One is a purchase of banknotes; the other is a position on a price movement. The two are not interchangeable, and a reader who wants cash dollars should go to a money changer, not to a broker.
Why a counter spread and a broker spread are different things
A counter spread is the difference between the buying price and the selling price quoted by a money changer. It is the money changer's margin on cash dollars. A broker spread is the difference between the bid and ask prices on a trading platform, quoted in pips. It is the broker's margin on a contract for difference.
The counter spread is set by the exchange company and varies by city and dealer. The broker spread is set by the broker and varies by currency pair and market conditions. One is a cash margin; the other is a trading cost. The two are not comparable.
What to read in the terms before an account is opened from Pakistan
Opening an account requires identification and takes a day or two. A practice account exists and costs nothing. Before opening an account, read the terms: the spreads, the overnight financing, the margin requirements, and the currency of settlement.
A contract for difference is not a deposit. It is not covered by a deposit protection scheme in Pakistan. The account is with FxPro, an international broker; this site is not the broker and takes no money from the reader. If you do not understand the terms, do not open the account.
| Item | FxPro (USD/ARS) |
|---|---|
| The dollar | USD/ARS |
| Regulation | FCA, CySEC, FSCA |
| Min deposit | Low entry · bank transfer |
| Platforms | MT4, MT5, cTrader, FxPro app |
FxPro is not licensed by the Securities and Exchange Commission of Pakistan or by the State Bank of Pakistan. An account is opened with a company regulated outside Pakistan - the group is authorised by the FCA in the United Kingdom and CySEC in Cyprus - so a resident here deals with a foreign firm and the protections of a locally licensed one do not apply. Sending money abroad for trading is subject to State Bank of Pakistan foreign exchange rules. Nothing on this site is investment advice.
Open a trading account with FxPro
This site is not the broker and takes no money from you. FxPro is an international broker that quotes currency pairs, including the dollar against other currencies, as contracts for difference. No cash dollars are bought, delivered or counted out. Opening an account requires identification and takes a day or two. A practice account exists and costs nothing.
See what the FxPro account is →