FX Broker - FXPro

Just came across the below message on another forum. Checked my MT4 mailbox with FXPro and got the same there.

Below is the message I received from FXPro having successfully traded Forex Megadroid with them for over a year:

"Dear ,

In order to safeguard all our clients, including yourselves, please be notified that as of today 21:00 server time, and at least until 02:00 AM server time, we will not be accepting trading using Expert Advisors (automated scripts coded in MQL4). This is due to the reduced liquidity available in the market, at these times, and the aggressive trading characteristics of your EA that may affect the smooth operation of the electronic platform.

Please take particular note that any active trades, between these times, will need to be closed manually via your terminal."

Just wanted to warn everyone of this scam brokerage.

I think those of us who have suffered from the FXPro actions should submit an email complaint to their regulators in Cyprus - the CySEC (Cyprus Securities and Exchange Commission) at

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More from there:

More on FXPro, I would excercise extreme caution with any Forex business which is either owned or controlled by Russians. FXPro is one of them despite being domiciled in Cyprus - their founder is a Russian named Denis Sukhotin: http://www.forexcrunch.com/fxpro-plans-even-stronger-growth-in-2011/denis-sukhotin/ . Enough for me to stay away from them for good.

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FXPRO IPO


http://forexmagnates.com/fxpro-ipo-details/

Right from their website:
https://www.fxpro.com/trading/conditions/execution-rules

Execution Venues

Execution venues are the entities within which the orders are placed or to which FxPro transmits orders for execution. For the purposes of orders for the financial instruments provided by FxPro, we act as principal and not as agent on the client's behalf. Therefore, FxPro is the sole execution venue for the execution of the client's orders. FxPro does not transmit the client order in the external market if the order is for a financial instrument provided by FxPro.

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Peter

Just been looking at their demo account and they offer really low spreads on the majors unlike
most other FX brokers/SB firms and it is FSA regulated so CLient accounts protected.
Cannot see any negatives unless anyonce can give them a bad report although I must admit
the execution rules have put me off a bit but hey whats the difference between their executuion
policy and that of an SB firm.

Hello, guys.

Let me to share some letter form FXpro:



What we can talk about now.

So are your positions closed at 11 and reopened at 1am or is it just a case of not being able to trade
for those 2 hours.

Can someone clarify!

Shaun12uk said:

So are your positions closed at 11 and reopened at 1am or is it just a case of not being able to trade
for those 2 hours.

Can someone clarify!

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Many EAs trade during this hours and I guess FXPro doesn't like this. This is only one reason I know.

I got the same email.

They don't apply this to all account, but I heard from many people about this limitation.

I read in another forum about how he got banned by Fxpro for using Megadroid EA... Lol. Does that means that EA works?

t2wfx said:

I read in another forum about how he got banned by Fxpro for using Megadroid EA... Lol. Does that means that EA works?

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LOL, would be a good way to promote a robot, spreading rumours that some brokers have banned it!

I am done with FxPro. The make a lot of marketing that every trader and every trading style is welcome and that they never trade against the client. Well, that is may all true, but only as long the client loose money. As soon the client produce "dead flow" they show there real face. First they blocked EAs for a few trading hours and a few days later they decided to "protect" me even better and blocked EA usage general.

LOL, would be a good way to promote a robot, spreading rumours that some brokers have banned it!

I think it have nothing to do with which EA you are using. Dealing desk brokers (not to call them bucket shops) trade against the client. When the client produce to much "dead flow" (cost the broker money) they need to do something against. Like FxPro......to protect the customers from profits they block EA usage.

Shaun12uk said:

Just been looking at their demo account and they offer really low spreads on the majors unlike
most other FX brokers/SB firms and it is FSA regulated so CLient accounts protected.
Cannot see any negatives unless anyonce can give them a bad report although I must admit
the execution rules have put me off a bit but hey whats the difference between their executuion
policy and that of an SB firm.

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FXPRO uk is not allowed to hold client money , your money is with FXpro not Fxpro UK ...

http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=228715

They now have ECN account. What do you think about this?

Hello all,

Can anyone give me feedback on Fab Turbo? I like the thought of automation because i'm still working and just starting out...

Any feedback would be appreciated.

mrthanks said:

Hello all,

Can anyone give me feedback on Fab Turbo? I like the thought of automation because i'm still working and just starting out...

Any feedback would be appreciated.

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This is wrong thread my friend.

32% of business coming from IBs (typical for online forex brokers)

i know 3 big IB´s of fxpro and they all recieved a letter of termination without any reason

why they terminating successfull Ib´s

here is what some user posted and i fully aggree

I CALL BS!!!
Mark my words:
There is NO WAY they are doing numbers like this.
They are cooking the books, circulating their own money from their Russian owners through their platform to show volume and revenue. Out one pocket and into the other … they are trying to make it look like they are making money … go IPO … raise a few hundred million and … well thats basically it.
NorthFinance was a bucket shop operated by the SAME people … its the same company operating in Cyprus for a couple of years. These guys changed 3-4 names in the last few years. They also used Eurorient financial services or something for a while …
I know them personally .. and as is the case with A LOT of forex brokers operating out of Cyprus there is NO transparency on who the real owners are. This is a Russian company owned by Russian business men just registered in Cyprus … all the Cypriot names on the “board of directors” are just a smoke and mirrors game. The CEO of the company (Mr. Xidas) used to own a couple of online gambling companies and online bingo sites … how does that make him qualified to be the CEO of a financial service company?
I wouldn’t hold this stock even if they gave it to me for free .. keep your money in your pockets.


what iam thinking about their ecn !

if a thief sells you a stolen bycycle or a stolen s- class mercedes in both cases you dont have bought something good

thats redicilous, the only explanation is they are a MM, maybe your EA trade to fast for them to hedge LOL

chrisbliss said:

thats redicilous, the only explanation is they are a MM, maybe your EA trade to fast for them to hedge LOL

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It's very common situation. They did you in February. What is more interesting in a month after that "event" they offered new ECN Platform.

The question one has to ask is this -

Why would anyone trade with a financial firm based out of Cyprus? (no offence to the island, but you know what I mean).

And especially one that makes it own market in the oh so dirty world of online FX?