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Experiences with FxPro

  • #221
  • May 22, 2012 9:25am May 22, 2012 9:25am
I hope you understood when they said "Thank you for your understanding"

They are very particular about "Conflict of interest" thing mentioned clearly in their TOS. Now ask them about that. Ask them "please can you explain that with an example"

IMO Fxpro uses it on some aggregated accounts or 1 server (not all) & has an account based categorization for whether to use VD plugin or not.

Account owners making big/good profits are often asked to close the account or placed on crap execution (and stuff). I know of 2 valid instances of former and regarding latter, seen 5-7 second execution in aliquid pair like EURUSD during normal trading(with no news/report publishing)
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #222
  • Edited 9:40am May 22, 2012 9:28am | Edited 9:40am
Quoting Connected
So I emailed their dealing desk and received the reply below, as you can see, they don't want to give an answer either.

http://hostmypic.net/pictures/b25992...0396f8b7a9.jpg
Oh wow... No wonder these guys are so "off-shore". lol

Thanks for the huge red flag Connected. Should be helpful to many.

Let's see who here still wants to come up with silly excuses for this bucketshop.
  • #223
  • May 22, 2012 9:58am May 22, 2012 9:58am
the search for a 'good' broker continues...

Quoting forexsaint
I hope you understood when they said "Thank you for your understanding"

They are very particular about "Conflict of interest" thing mentioned clearly in their TOS. Now ask them about that. Ask them "please can you explain that with an example"

IMO Fxpro uses it on some aggregated accounts or 1 server (not all) & has an account based categorization for whether to use VD plugin or not.

Account owners making big/good profits are often asked to close the account or placed on crap execution (and stuff). I know of 2 valid...
Tracking the Specialists.
  • #224
  • May 22, 2012 10:00am May 22, 2012 10:00am
Thanks Marv, yes I do hope this helps. Trading is difficult enough without all of these 'obstacles'.

Quoting Marv
Oh wow... No wonder these guys are so "off-shore". lol

Thanks for the huge red flag Connected. Should be helpful to many.

Let's see who here still wants to come up with silly excuses for this bucketshop.
Tracking the Specialists.
  • #225
  • May 22, 2012 10:07am May 22, 2012 10:07am
Quoting Connected
the search for a 'good' broker continues...
But remember they are OK relative to other bucketshops, for a new account holder. Though they have quite a many broken data feeds/gaps lately...( i also was awww'ed by seeing a big invalid spike down in a pair, few months back)
they still have relatively better quality control among mt4 brokers . Deposits & withdrawals are pretty quick and as advertised & so is the documentary requirements etc.

BUT they have definitely not improved ( I have been them from quite some time)

Also make sure you don't make too big profits. Regular profit withdrawals are best for mt4 brokers...be it fxpro or any other"Conflict of interest" bucketshop

Hope this helps. Good luck



P.S. Haven't read the TOS of thier so called ECN platform though
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #226
  • May 22, 2012 10:15am May 22, 2012 10:15am
Appreciate your comments thanks forexsaint, I'm thinking it wiser to run an MT4 demo for chart analysis/indicators and making trades on a seperate ECN account (non-MT4) the only problem I have is trying to find a good ECN who will open an account first to try out their ECN services.

Quoting forexsaint
But remember they are OK relative to other bucketshops, for a new account holder. Though they have quite a many broken data feeds/gaps lately...( i also was awww'ed by seeing a big invalid spike down in a pair, few months back)
they still have relatively better quality control among mt4 brokers . Deposits & withdrawals are pretty quick and as advertised & so is the documentary requirements etc.

BUT they have definitely not improved ( I have been them from quite some time)

Also make sure you don't make too big profits. Regular profit withdrawals...
Tracking the Specialists.
  • #227
  • May 22, 2012 12:32pm May 22, 2012 12:32pm
Thank you for your comments Marv Armada markets look interesting, please can you comment regarding the spread during news, slippage, requotes etc? Many thanks

Quoting Marv
Out of curiosity I'm currently testing the LMAX ecn through Armada Markets (an IB for LMAX with better commissions and leverage) who use an MT4 bridge. Works very nice so far (execution, slippage, support, withdrawals, no-requotes, etc). Check it out if you MT4-oriented (the "Exchange" account of course).

I already asked them about the VD plugin and they instantly replied their MT4 bridge is completely stripped from any plugins. The nice thing is that their bridge is acquired from a separate Swiss company called PrimeXM...
Tracking the Specialists.
  • #228
  • May 23, 2012 1:01am May 23, 2012 1:01am
it has taken from the 28th of last month untill today to get 4k out fxpro.
used to be ok but now ive had enough.
lmax any reports on withdrawals i take between 2-4k a month out,hope i dont get the same bullshit getting my capital out fxpro.
student
  • #229
  • May 23, 2012 2:18am May 23, 2012 2:18am
Thank you Marv for your detailed observations, very kind of you to share my friend. You seem very positive about their service and as of today I will begin demoing with them, thanks again for your time, really appreciate your feedback.

Will report back here shortly when I am signed up.

Quoting Marv
From what I've seen so far:

- News spreads: As good as any true/raw ECN. They can widen, just not nearly as much as MM brökers like Oanda.

- Slippage: Good. Take a look at the market depth from the LMAX website or platform during normal/active market hours to get an idea on the kind of liquidity available and therefore how much slippage to expect (note: 100 in the market depth = 1 million). I've included a screenshot I just took. I hope the guy who claimed you can never get a 2 million order executed...
Tracking the Specialists.
  • #230
  • May 23, 2012 2:23am May 23, 2012 2:23am
I do not understand their policy on minors. Why the hell do they still offer eur/aud with 4-digit pricing?
  • #231
  • May 23, 2012 4:47am May 23, 2012 4:47am
Quoting Marv
And what's wrong with being a scalper?

Some of the most successful trading firms these days are scalpers (HFT firms). Nah they're probably all wrong and you are right, a 1 or 2 pip spread difference does not matter.



Wrong. Your trade volume does not affect the spread you get, it affects the slippage you get. With a big ECN and if enough liquidity happens to be available, you can get less than 2 pips in spread+slippage.

Don't you just love it when traders try to make excuses for their favorite brökers and try to validate their...
Not making any excuses. From what I can see FxPro doesn't discriminate against scalpers or EAs. It looks to me like they are increasingly trying to target high volume traders??
  • #232
  • May 23, 2012 4:49am May 23, 2012 4:49am
Quoting Marv
From what I've seen so far:

- News spreads: As good as any true/raw ECN. They can widen, just not nearly as much as MM brökers like Oanda.

- Slippage: Good. Take a look at the market depth from the LMAX website or platform during normal/active market hours to get an idea on the kind of liquidity available and therefore how much slippage to expect (note: 100 in the market depth = 1 million). I've included a screenshot I just took. I hope the guy who claimed you can never get a 2 million order executed...
Thanks Marv, hadn't seen that market depth chart before will be sure to keep watching it now.
  • #233
  • May 24, 2012 3:21am May 24, 2012 3:21am
hello I just got on FxPro Join alaplaya I want some useful tips on forex brokers.
{Promotion Removed}
  • #234
  • May 26, 2012 11:05pm May 26, 2012 11:05pm
Quoting soumailaadam
hello I just got on FxPro Join alaplaya I want some useful tips on forex brokers.
demo first..
just advice.
  • #235
  • May 28, 2012 12:22pm May 28, 2012 12:22pm
Let me say, last thursday I got almost 10 pips FAVOURABLE slippage for a 80k limit order, on eurusd. And I often get favourable requotes for market orders so I can't complain this company.

Never had problem withdrawing my money, of course I don't trust holding big deposits on ANY market maker account, neither Fxpro, I just keep the margin for some SLs.

PS: I don't scalp.
  • #236
  • May 29, 2012 11:47pm May 29, 2012 11:47pm
Quoting Marv
Out of curiosity I'm currently testing the LMAX ecn through Armada Markets (an IB for LMAX with better commissions and leverage) who use an MT4 bridge. Works very nice so far (execution, slippage, support, withdrawals, no-requotes, etc). Check it out if you MT4-oriented (the "Exchange" account of course).

I already asked them about the VD plugin and they instantly replied their MT4 bridge is completely stripped from any plugins. The nice thing is that their bridge is acquired from a separate Swiss company called PrimeXM...
Hi Marv,

Can you recommend some your favourite brokers which provide ECN account on MT4 platform to me? Send me a P.M if it is inconvenient. Thanks you very much.
  • #237
  • Jun 22, 2012 5:07pm Jun 22, 2012 5:07pm
Quoting Capital Gain
Let me say, last thursday I got almost 10 pips FAVOURABLE slippage for a 80k limit order, on eurusd. And I often get favourable requotes for market orders so I can't complain this company
I had the same problem in the last weeks...hard slippage and requote, 4/5 times per week!
I don't know what's happening, I'm using Fxpro since 3 years and never had this kind of problems...if it continue in this way I will change my broker...
  • #238
  • Jul 13, 2012 6:20am Jul 13, 2012 6:20am
Received this yesterday:

Dear Trader,

We are pleased to inform you that following our recent announcement of the transition of FxPro to a full agency model on all our platforms, including MT4, any restrictions that may have affected your Expert Advisors during the Asian Session will no longer be applicable as of market opening on Monday 16th of July.

With our global pool of liquidity providers, our No Dealing Desk Intervention and our new seamless execution model we are fully confident of providing a superior trading experience to all users of Expert Advisors, Scalpers and High Frequency Traders.

Kind Regards,
Vanessa Spyrou,
Head of Global Sales and Support.
  • #239
  • Jul 13, 2012 6:56am Jul 13, 2012 6:56am
One interesting thing I found when I was at FXPro was that prices would be reached before the candles would paint on the chart. There was a deliberate in-built lag of a couple of seconds.

I had an indicator set to ring by price: every time it would ring (price would be hit) before the candle would paint. If you were going visually by the candles painting on the chart, you would be late by a few seconds every time. The price had already been hit.
  • #240
  • Jul 13, 2012 1:19pm Jul 13, 2012 1:19pm
Quoting bit9ret
One interesting thing I found when I was at FXPro was that prices would be reached before the candles would paint on the chart. There was a deliberate in-built lag of a couple of seconds.

I had an indicator set to ring by price: every time it would ring (price would be hit) before the candle would paint. If you were going visually by the candles painting on the chart, you would be late by a few seconds every time. The price had already been hit.
Don't use fxpro if you are a scalper. For swing trading might be okay.
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