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Experiences with FxPro

  • #1,121
  • Sep 18, 2017 10:17am Sep 18, 2017 10:17am
Quoting jsk3010
{quote} But they can fleece you with slippage anyway if you're using c-trader so there is no way to win?
And that is why you choose a broker partnered with good pool of liquidity providers and one that send your order right there. So you FOCUS on fighting with the market. Not with a bucket shop that runs your stops back and forward and if cannot, they slip you +300p and if that does not happen then charge you premium price in form for 2-3x normal spread every time you open a position.

Does it make sense?

What FxPro provides for the premium price that others, good brokers dont for much more discounted price?

Who do you think pay salary for Lianna@FxPro for sitting in forum like this this one and "advising"?
  • #1,122
  • Sep 18, 2017 10:32am Sep 18, 2017 10:32am
Let me give you a practical example. Lets make two assumptions:

1. You scalp or day trade
2. Average spread markup is 0.5p over good spread, as per my example. Does not really matter what pair, just an example, average, probably is more than that.


You open 5 positions during a session. Each one is 10 lots. That is $100 per pip. On each position you pay premium 0.5p x $100 = $50. So, for 5 positions you pay premium $250 that day.

Can you afford to give away that $250 a day? Would be better to have that pay for something else?

Lets keep counting. You trade 200 days per year. You are good at scalping, so the most of the days are success full wins of 5 entries, sometimes maybe more. Over a year your premium is 200 x $250 = $50k. Fifty thousand dollars for a spread markup, on top of normal spread, and commissions and slippage.

WHY-WOULD-YOU-DO-IT? Do you believe FxPro provides you an extra service worth yours $50k?

I hope you understand now, how they can sponsor Aston Villa. Enjoy
  • #1,123
  • Sep 18, 2017 7:54pm Sep 18, 2017 7:54pm
How about audusd. Perhaps FxPro will do better here then other brokers. Sydney session is open, very liquid time for the pair.

Lets see.... nope, still markup on the spread... minimum spread marked by 5x (five times)

Attached Image (click to enlarge)
Click to Enlarge Name: fxpro_spread_versus_other_brokers_audusd.jpg Size: 276 KB
  • #1,124
  • Sep 19, 2017 4:20am Sep 19, 2017 4:20am
What did they do to you jdieieh? Tell us
  • #1,125
  • Sep 19, 2017 4:38am Sep 19, 2017 4:38am
Quoting jsk3010
What did they do to you jdieieh? Tell us
Who are "they"? FxPro? Nothing personal.

I just dont like bullshit in principle and hate "cleaver" marketing duds who think can hide behind talk. And since Lilianna@FxPro decided that for her the best tactic is to hind behind the wall of silence, I am destroying this tactic. She had a choice, she could easily publish tick chart of cad pairs at BoC even with order levels and fix of this mysterious "300p" slippage myth. Or take consequence from public educating them self.

Hence I am that (persistence) educator, by choice, it costs me nothing (hear hear Lianna). I will fill this thread with comparison charts for everybody to see and let marketing duds do something about that. Game on!
  • #1,126
  • Edited 5:19am Sep 19, 2017 5:08am | Edited 5:19am
... since you promoted me to response, how about an afternoon snack in form of gbpcad, recorded over 15 minutes or so.

Current FxPro spread 2.5p versus 0.6p of the best out of three

Minimum FxPro spread for that period 1.9p versus 0.2p of the best out of three

Maximum FxPro spread for that period 3.3p versus 1.7p of the best out of three

Any one can spot recurring theme? How is this 50k going guys?

Attached Image (click to enlarge)
Click to Enlarge Name: fxpro_spread_versus_other_brokers_gbpcad.jpg Size: 286 KB
  • #1,127
  • Sep 21, 2017 9:02am Sep 21, 2017 9:02am
If you’re trading with FxPro keep in mind that they announced that because of the German general elections on September 24 which can cause a significant volatility on the market they are temporarily increasing the margin requirements on all European spot indices to 2%, starting from Friday, September 22, 2017, at 15:00 (GMT+3) and that will affect both new and existing positions.

In cases of extreme volatility and lack of liquidity, the broker may also refuse the opening of new positions, enabling the ‘Close Only’ functionality.
  • #1,128
  • Sep 21, 2017 11:17am Sep 21, 2017 11:17am
Is there any way to open a trade explorer on a cTrader account in FXPro?
  • #1,129
  • Sep 25, 2017 12:58am Sep 25, 2017 12:58am
Quoting OkomBit
Is there any way to open a trade explorer on a cTrader account in FXPro?
Hi OkomBit,

Can you please clarify what you mean? Are you referring to a demo account?

Thanks,
Lianna
  • #1,130
  • Oct 19, 2017 7:29am Oct 19, 2017 7:29am
FxPro will be hiking the margins again apparently, this time because of the Japanese elections. Starting from Friday, October 20, 2017, at 18:00 (GMT+3) they’re raising the margin requirements for all JPY forex pairs and the spot metals to 1% (leverage 1:100) and to 2% (1:50) for indices (spot and futures). The changes will affect both new and existing positions.
  • #1,131
  • Edited 12:50pm Oct 19, 2017 12:05pm | Edited 12:50pm
Quoting Lianna@FxPro
{quote} Hi OkomBit, Can you please clarify what you mean? Are you referring to a demo account? Thanks, Lianna
I think he is asking if he can create a "Trade Explorer" for his Forum account and link it to a cTrader Account. But thats not possible, since the ForexFactory Trade Explorer only supports MetaTrader and FxTrade.
  • #1,132
  • Nov 28, 2017 6:26am Nov 28, 2017 6:26am
Recently I found in the contacts section on the FxPro website (https://www.fxpro.co.uk/contacts) that there are 2 new offices in the United Arab Emirates and on the Bahamas. But I couldn't find a lot of information about this new lines of work. Maybe representatives of the company can tell us more. Are these offices open to developing new markets or customers from other regions also can open an account there?
  • #1,133
  • Nov 29, 2017 9:17am Nov 29, 2017 9:17am
Hi Mertens,

We have recently registered two new entities, FxPro Global Markets MENA Limited and FxPro Global Markets Limited, with offices in Dubai and the Bahamas respectively, as you have pointed out. For more information, please take a look at our FAQ https://www.fxpro.co.uk/help-section...eral-questions.
Trading CFDs involves significant risk of loss.
  • #1,134
  • Edited 6:01am Nov 30, 2017 5:51am | Edited 6:01am
Quoting FxPro Global
Hi Mertens, We have recently registered two new entities, FxPro Global Markets MENA Limited and FxPro Global Markets Limited, with offices in Dubai and the Bahamas respectively, as you have pointed out. For more information, please take a look at our FAQ https://www.fxpro.co.uk/help-section...eral-questions.
And now, everyone ask yourself a question: why Bahamas is better now, why London is not good anymore? What is happening in London that is not happening on Bahamas... and causes bucket shops to migrate?
  • #1,135
  • Nov 30, 2017 6:01am Nov 30, 2017 6:01am
Let me answer this question for you, potential client of FxPro in Bahamas:

19 January 2017

https://www.forexfraud.com/forex-art...crackdown.html

Quote:

It has been a month and a half since the FCA delivered its December broadside against the UK brokerage community. The shot heard round the world may have been directed at Contracts for Difference (CFDs) and Spread-betting in general, but the message was clear that further directives addressing other concerns will soon be in the offing.

..the FCA had been investigating complaints in the CFD sector for the past six years. After much internal deliberation, it has proposed a set of new rules that it thinks will clean up many of the current abuses from its perspective.

Christopher Woolard, Executive Director of Strategy and Competition for the FCA, said quite clearly and succinctly, “We have serious concerns that an increasing number of retail clients are trading in CFD products without an adequate understanding of the risks involved, and as a result can incur rapid, large and unexpected losses. We are introducing stricter rules for CFD products to ensure the sector addresses the shortcomings identified, and that firms make sure that retail clients are aware of the high risks involved in trading these complex products.”

How heavy is the loss rate? By its own determination after reviewing a representative selection of client accounts for CFD providers, “82% of clients lost money on these products”. This figure may even be low, since guesstimates of casualty rates for global CFD providers have run as high as in the nineties.

End of quote.


Hang on, FxPro does not want to comply with FCA, does not want to clean abusive practices and does not want to reduces heavy clients' loss rate? So it moves beyond FCA jurisdiction.... WHAT DOES IT TELL YOU ABOUT FxPro???
  • #1,136
  • Nov 30, 2017 6:08am Nov 30, 2017 6:08am
Lianna@FxPro

would you like to clean your practices??? Question about 300p slippage and excessive spread markup still are not answered!!!

Lianna........ annaaaaa............ naaaaaaa..................... aaaaaaaaa.......................... AAAAAAAAAAAAA!!!!!!!!!

https://www.forexfactory.com/showthr...7#post10302067

https://www.forexfactory.com/showthr...5#post10271545

https://www.forexfactory.com/showthr...9#post10277949

https://www.forexfactory.com/showthr...3#post10282173

https://www.forexfactory.com/showthr...5#post10303475

https://www.forexfactory.com/showthr...4#post10304604
  • #1,137
  • Nov 30, 2017 6:57am Nov 30, 2017 6:57am
Quoting jdieieh
Lianna@FxPro would you like to clean your practices
I doubt that you will get any feedback on that. ))) Bigger issue that you brought up is why do they have so many subsidiaries (UK/Cyprus/Bahamas etc etc). This is a legit concern for anyone holding decent sized accounts I guess.

On another note I've used FXPro cTrader account for a few years didn't have major issues, traded only EURUSD and GBPUSD. Spread, slippage were all comparable to Pepperstone. Deposits/withdrawals were never a problem (up to 30-40K max).

Overall I think they are legit, definitely not a bucket shop. Do they have issues? For sure, but probably all of the brokers got some. )))
  • #1,138
  • Nov 30, 2017 2:55pm Nov 30, 2017 2:55pm
Quoting asgcorp
{quote} I doubt that you will get any feedback on that. ))) Bigger issue that you brought up is why do they have so many subsidiaries (UK/Cyprus/Bahamas etc etc). This is a legit concern for anyone holding decent sized accounts I guess. On another note I've used FXPro cTrader account for a few years didn't have major issues, traded only EURUSD and GBPUSD. Spread, slippage were all comparable to Pepperstone. Deposits/withdrawals were never a problem (up to 30-40K max). Overall I think they are legit, definitely not a bucket shop. Do they have issues?...
1. If they are legit brokers, should not they answer a question about excessive slippage in their own marketing thread like this?
2. I showed they consistently markup spread, meaning for a person speculating daily additional cost of tens of thousands of dollars.

They are bucket shop, even if they try to show them self as "pro". Not the worse bucket shop ever of course, but still bucket shop. That is why they move to Bahamas and Dubai. Try to get justice in any of those countries

And no, not all brokers have "issues" like this. Those are not "issues", those are practices aimed to milk out money out of "customers". Did you read paper by FCA? You know, they have quite a knowledge in the field and spend six year signalizing those practices. I trust that more then any anecdotal evidence
  • #1,139
  • Dec 23, 2017 7:52am Dec 23, 2017 7:52am
Why do you close the crypto markets over the weekend? Are there any plans to open it 24/7?
  • #1,140
  • Dec 23, 2017 7:58am Dec 23, 2017 7:58am
Quoting mrbigstar
Why do you close the crypto markets over the weekend? Are there any plans to open it 24/7?
Every CFD Broker is closed at weekends. If you want to trade Cryptos 24/7 you will have to do that at the Exchanges directly.
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