some answers received from finfx
hope "old guard"(long time members) join me with there precise and pointed questions
first general company bla bla bla but let us remember all promises
Here is short introduction about Finland and FinFX:
We do accept clients from US. We also recognize the changing regulatory climate in US which has no effect on FinFx's broker services. We continue to provide hedging, scalping, limit orders and high leverage without the FIFO-limitations.
FinFx has gained TrueFX Broker status at our liquidity provider
https://www.integral.com/partners/truefx_brokers.htm - a status given only to respected ECN partners.
As we do not operate out of NFA jurisdiction we are only too happy to continue offering hedging, scalping, stop-loss, limit orders and all this without the FIFO-limits many brokers are exposed to these days. And we can offer maximum leverage of 300:1 on Mini Account.
If you instead manage other people's accounts please rest assured our state-of-the-art Multi Account Manager (MAM/PAMM) from Rous Technology delivers trades instantaneously on your client accounts. We decided to go with the best and not with the cheapest one available. Our managed account providers who automate their trades on several Forex platforms tell us that ours produce the best results. It's about the pricing and speed of execution.
The same goes with the MetaTrader bridge software - needed to provide you with the true ECN-pricing experience many only promise. Again not the cheapest but the best.
Try opening an account with us. Most new accounts get created the same day, sometimes even in minutes. We have seen the hardships especially small and medium-sized businesses have to endure in account openings worldwide.
And in addition to SWIFT/BIC transfers our VISA/Master/Moneybookers funding and withdrawal methods are almost instant.
Use iPhone, PocketPC or Smartphone to monitor or carry out trading while out and about. Just dial-in one of our redundant servers located in the capital city of Finland, Helsinki, and you are good to go. Clients further away enjoy our low latency servers abroad. We are currently connected to 15 banks and always seeking more ways to lower our spread. During the New York session it is not uncommon to see our EURUSD down to even 0.0 pips and mostly ranging at 0.6 pips.
Also our Market Orders go through better than the usual Instant Orders - giving you less or none of Requotes or Price has changed errors. We are a well capitalized company and FinFx can’t use client funds for company's own expenses
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1.can you confirm that live account runs identically to demo platform?
Yes we confirm this. Trading conditions are the same. On live account though all trades are sent to markets so small slippage can happen, this is the market dynamics of ECN compared to a market maker model. We however do let clients keep their positive slippage which is rather rare in broker industry.
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2.one click plugin would be very useful
You are free to use any third party one-click plugin with our MT4. Later this year we are coming out with another award winning platform, more suitable for one click trading and institutional traders.
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3.i' ve read on 100forexbrokers.com a complaint that a trader experienced connect disruptions several times in the beginning of this year
what do you undertake in this respect to provide uninterrupted service?
You are correct, I have seen the 100forexbrokers.com review and it is true. The feed coming from our banks really disconnected for few times. So opting for backup servers was not a choice. We worked it with our liquidity and bridge provider and it is good now. We have a very good reputation on being quick and fair towards traders in situations beyond their control.
Of course our 24/5 phone support makes it possible for clients to close trades if they lose their own internet connection. Many times traders also resort to VPS services for better internet connections.
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>4.does finfx publish financial reports?
>..no....
In Finland financial reports are not publicly available. We are considering using an internationally renowned auditing company.
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5.transparency is the most important thing
We agree. We for example tell openly that we get price feed from multiple banks via our liquidity provider Integral and bridge providers PrimeXM and Rous Technology. This is something a market maker may not tell you.
We get price-feed from multiple banks, all competing to give you the best ECN price - so it is not uncommon to see EURUSD spread down to even 0.0 pips and commonly ranging at 0.6 pips. Also our execution speed is top notch at 200ms coupled with our Market Orders which are better filled compared to the usual Instant Orders - thus giving you less or none of Requotes and Price has changed errors. Therefore we welcome scalpers.
our smallest price increment is 0.1 pips instead of 0.5 pips as you probably saw in the first place.
