BumBumBum
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They are officially register in Cyprus?
FX Broker - FXPro
- Thread starter inquirer1956
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They are officially register in Cyprus?
Joseff
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FYI! They support English football teams and claim that they are UK broker. Their headquarter is not there!
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.
this is just a "sandbox"
children are wellcome
inquirer1956
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If a broker is a market maker it evidently means that the rates are provided by this broker and orders are not taken to the interbank market. However the broker can hedge against risks via outer contracting parties. It’s the same with any brokers, not only with FxPro. The question is different: will the broker be able to carry out its financial obligations to the clients? FxPro is a large and well-known broker with a good reputation, so I personally have no doubts about its reliability.
If you want your orders to be taken to the interbank market, work with their ECN accounts.
Why do you think dodgy forex brokers 'register' there in the first place? Every forex scam you hear of involves companies registered in Cyprus or Mauritius.
Because Cyprus has 10% corporate tax, ie the lowest in Europe
If course not, its just another get rich quick scam.
wackypete2
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Samtogoforex
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Hello,
Do they have any license like FSA? are they regulated?
This should be a warning to everybody.
Take care fellow traders.
Regards,
Sam
sushiwasabi
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ok guys, i just signed up, new here. re this thread... anything new re this broker? do most people still maintain FxPro is a scam? because i just finished talking with someone who was working in the industry as a trader back in the days for a market maker, also for a hedge fund, so institutional experience, and now he is trading his own account... and he tells me that he uses, get this, FXCM, FxPro, and GAIN Capital, generating nice volume on FxPros ECN platform and claims he has not encountered a single serious problem.
the keyword here is 'serious', obviously, since moderate slippage is part of the game, and so on, that is not something to blame brokers for as long as it happens within the current market parameters.
any fresh opinions welcome, please.
also, i read the whole thread from start to finish, and some posts, honestly, are ridiculous. i have in mind in particular the ones where someone tries to imply that because the ownership is russian and the company headquartered in cyprus, therefore they must be crooked.
come on! it's like saying, if i were italian, that then probably half my family is in the mafia or at the very least has no ethical sense. that is stereotyping of the worst kind. not all russians--let me correct this--most russians are not mafiosi and are very decent, nice, and smart people (and very sexy, that's for the women ;-) ) . and no, i am not saying this because i am russian.
and as to cyprus, sure, maybe the regulatory climate over there makes it kind of a caribbean island in the mediterranean. still, it does not follow logically that all businesses there are set up because they intend to engage in shady or illegal practices. and another disclaimer: i am not a cypriot.
i just value truth more than anything else, and ethics, without which we might as well go back to how we used to live in prehistoric times because without respect and love for these 2 principles, we are no better than animals, mere savages. and that is not what progress is about.
i like to quote larry page, google's co-founder--well, really paraphrase because i don't remember word for word what he said--when i rant about this, but the gist of it is: he wants to empower people and promote abundance in everyone's life; that we should seek abundance and ways to make it so because we now have the technological means to finally leave the age of scarcity where it belongs, that is to say, in the dark past of humankind, and open the door to the age of abundance for all. that's what we should strive for, and not give in to the logic of 'kill-or-be-killed.' that is so prehistoric and should have no place in our society any longer.
not to say we shouldn't have competition, of course. but anyways, i'm gonna stop here before i get totally carried away.
cheers and all the best in trading to all.
sw
the keyword here is 'serious', obviously, since moderate slippage is part of the game, and so on, that is not something to blame brokers for as long as it happens within the current market parameters.
any fresh opinions welcome, please.
also, i read the whole thread from start to finish, and some posts, honestly, are ridiculous. i have in mind in particular the ones where someone tries to imply that because the ownership is russian and the company headquartered in cyprus, therefore they must be crooked.
come on! it's like saying, if i were italian, that then probably half my family is in the mafia or at the very least has no ethical sense. that is stereotyping of the worst kind. not all russians--let me correct this--most russians are not mafiosi and are very decent, nice, and smart people (and very sexy, that's for the women ;-) ) . and no, i am not saying this because i am russian.
and as to cyprus, sure, maybe the regulatory climate over there makes it kind of a caribbean island in the mediterranean. still, it does not follow logically that all businesses there are set up because they intend to engage in shady or illegal practices. and another disclaimer: i am not a cypriot.
i just value truth more than anything else, and ethics, without which we might as well go back to how we used to live in prehistoric times because without respect and love for these 2 principles, we are no better than animals, mere savages. and that is not what progress is about.
i like to quote larry page, google's co-founder--well, really paraphrase because i don't remember word for word what he said--when i rant about this, but the gist of it is: he wants to empower people and promote abundance in everyone's life; that we should seek abundance and ways to make it so because we now have the technological means to finally leave the age of scarcity where it belongs, that is to say, in the dark past of humankind, and open the door to the age of abundance for all. that's what we should strive for, and not give in to the logic of 'kill-or-be-killed.' that is so prehistoric and should have no place in our society any longer.
not to say we shouldn't have competition, of course. but anyways, i'm gonna stop here before i get totally carried away.
cheers and all the best in trading to all.
sw
You might want to google 'virtual dealer plugin' or indeed 'gain capital fined' or even 'fxcm fined' before you jump to any conclusions about slippage being normal.
sushiwasabi
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yes, i know about the virtual dealer plug-in and FCXM (used to be a customer there years ago when it was really bad), CMS, GAIN Capital (although that guy i mentioned before also recommended GAIN saying he has not problem with them trading volume >= 5M).
ok this is important so i need to make sure i understand you clearly.
are you saying that for retail orders less than 5M in base currency, the order is too small and therefore can easily be matched (on major and jpy crosses), i.e. get filled and therefore such orders should never experience slippage under normal market circumstances?
normal = not during news or any unforeseen and market moving event such as CB intervention, for ex what happened in 2011 when the SNB pegged the eur/chf at 1.2000 from 1.11??.
my understanding is that the converse of this is that once you reach a greater order size (and honestly i don't know at what size the order is too large that it needs to be broken up to find various matches at different price points) then it will take a little more time to match this large order, hence the slippage.
or are you saying that retail trader should never experience slippage? or just occasionally?
when i wrote 'slippage is part of the game' it's because i thought that sometimes it is not immediately possible to find another order to match yours on whatever ECN you are using, especially if liquidity is low on that ECN.
what am i missing here?
Antonio1711
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Hey fellow traders !
FxPro released it's new personal traders profile , new product with trading statistics - and its very nice with interesting data
some screenshots here :
FxPro released it's new personal traders profile , new product with trading statistics - and its very nice with interesting data
some screenshots here :
sushiwasabi
Junior member
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yes, that is nice indeed. thanks for sharing.
1- how is the execution on the ECN?
2- is the liquidity i see in the demo the same on majors and crosses as when using a live account? did you check that?
3- how is slippage? and at what size do see it occur?
4- how long have you had that ECN live account?
too tired now to think of anything else. i'm sure i'll have more questions tomorrow.
1- how is the execution on the ECN?
2- is the liquidity i see in the demo the same on majors and crosses as when using a live account? did you check that?
3- how is slippage? and at what size do see it occur?
4- how long have you had that ECN live account?
too tired now to think of anything else. i'm sure i'll have more questions tomorrow.
Antonio1711
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Hey wasabi
always glad to be usefull) 1- I use their FxPro cTrader web - very nice html 5 platfrom, very fast and fresh from all the html that i ve tried, has mobile as well. Execution itself - very good, 5+
2- yes
3- i trade a lot with with EA's on their MT4 - no slippage or re-quotes detected after that they changed the model from MM to NDD
4- mt4 for more that 3 years, ecn for 1 year now
cheers!
Jason Rogers
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One thing to keep in mind is that there isn't liquidity at every single price. Also, the depth of liquidity at each quoted price can vary. For example take a look at a tick chart, and you will see from one tick to another the price can jump by more than 1/10th of a tick (the smallest price increment). If a trader were to pull up a tick chart and view the data for the area circled below, they would see the quoted price went from 92.841 to 92.843 from one tick to the next. This chart is taken from FXCM Marketscope. If the trader had a limit order to sell at 92.842, the order likely would have been filled at 92.843 since the order price wasn't quoted. That's slippage of 0.1 pips.
During news releases there tends to be more space in between each tick. That's because there is less liquidity and prices are jumping around more rapidly to the prices where liquidity does exist. So slippage can occur on orders naturally, since prices are not moving by 0.1 pips at a time, and volatile market conditions will magnify that effect. The second thing to keep in mind is the depth of liquidity at each price, since it can also vary. Liquidity tends to be less in volatile market conditions, so fewer orders can be filled even at the price levels even where there is a quote. That means prices will jump around more frequently, and the jumps will be larger.
