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Experiences with FxPro

  • #1
  • First Post: Dec 5, 2009 12:04pm Dec 5, 2009 12:04pm
Dear all Traders,
i have plan migrate to another broker. Plan to choose FXPro. Anybody can comment on this? How is the term of the Deposit and withdrawal system? The reason is to find a high leverage 1:200-1:500.
Currently used IBFX but the leverage has been chage to 1:100.

Leslie
  • #2
  • Dec 6, 2009 11:08am Dec 6, 2009 11:08am
I would like to use FXPro but they will be closing US accounts in the future. Doh!
  • #3
  • Dec 6, 2009 11:23am Dec 6, 2009 11:23am
All those people who move their accounts because they want 400:1 instead of 100:1 should not be trading live in the first place....

As for FxPro they are ok never had any trouble with them.
  • #4
  • Dec 7, 2009 1:49am Dec 7, 2009 1:49am
Quoting leslieselwyn
Dear all Traders,
i have plan migrate to another broker. Plan to choose FXPro. Anybody can comment on this? How is the term of the Deposit and withdrawal system? The reason is to find a high leverage 1:200-1:500.
Currently used IBFX but the leverage has been chage to 1:100.

Leslie
Hi Leslie, I'm Lianna from FxPro and i'm here to reach out and answer questions regarding our company.

FxPro accept the following deposit methods, Credit/debit card, PayPal, Neteller and Moneybookers, all of which are processed almost instantly but can take up to 1 hour. Time taken for bank wire deposits will vary depending on the banks involved. As long as all of the required documents are received and you withdraw via the same method you used to fund, you will have no issues with withdrawing

If you wish to direct message me with any other questions, please feel free to do so and I will do my best to help you. Alternatively, you can always reach FxPro Customer Support Monday to Friday, 24 hours a day, in a number of ways, via e-mail: [email protected], telephone: +357 25 969 222, or using our toll free numbers (for countries where available), Live Chat service, and Call Back facilities, all of which are listed towards the end of FxPro’s Contact Us page: https://www.fxpro.com/contacts.html.
  • #5
  • Dec 7, 2009 3:27am Dec 7, 2009 3:27am
Been using fxpro for some time now. They are far better than any other broker I've used. Spreads are amongst the best. Good service, what more do you want??
  • #6
  • Dec 7, 2009 6:06am Dec 7, 2009 6:06am
Quoting Tjpld
All those people who move their accounts because they want 400:1 instead of 100:1 should not be trading live in the first place........

Hi mate, do you know that some people trade successfully with high leverage? Actually, I need very high leverage for my trading style and I am successful. Don't fall into this trap of thinking that high leverage is a bad thing. It isn't. It is a great tool for those who know how to use it. Good traders know how to make good use of it. And let's face it a poor trader will blow his account with low or high leverage the only difference being with low leverage it will take more time to lose it all.
I think it's unfortunate and it happens often:
- That traders who dont need high leverage feel the need to criticise it or those traders who use it.
- That position traders keep having a dig at scalpers
- That daytraders keep having a go at news traders
We are all in it to make money so to everyone their own trading style. If you position trade, I'm happy for you. But that's not my style.
And yes, I am interested in brokers who provide high leverage.
  • #7
  • Dec 7, 2009 11:20am Dec 7, 2009 11:20am
Fxpro are ok imo. Spreads are good but their execution isn't the best and it's becoming more of a problem of late. I have to say though their live support is helpful.
  • #8
  • Dec 7, 2009 11:23am Dec 7, 2009 11:23am
Quoting Vantage
Good service, what more do you want??
Better execution and no requotes for starters...
  • #9
  • Dec 7, 2009 1:58pm Dec 7, 2009 1:58pm
The spreads are ok. But their execution are becoming worst and worst...
  • #10
  • Dec 7, 2009 4:01pm Dec 7, 2009 4:01pm
Quoting PipStar
Hi mate, do you know that some people trade successfully with high leverage? Actually, I need very high leverage for my trading style and I am successful. Don't fall into this trap of thinking that high leverage is a bad thing. It isn't. It is a great tool for those who know how to use it. Good traders know how to make good use of it. And let's face it a poor trader will blow his account with low or high leverage the only difference being with low leverage it will take more time to lose it all.
I think it's unfortunate and it happens often:
- That...
If you use sound MM and risk only 2-3% per trade it's absolutely no benefit to trade 400:1 instead of 100:1 both carry the same risk. What do you need useless free margin for?
  • #11
  • Dec 7, 2009 10:29pm Dec 7, 2009 10:29pm
Quoting Tjpld
If you use sound MM and risk only 2-3% per trade it's absolutely no benefit to trade 400:1 instead of 100:1 both carry the same risk. What do you need useless free margin for?
Maybe he has several trades running at once? I agree risking 2-3% is fine per trade but as I said he could have 5/6/7 trades running.
  • #12
  • Dec 8, 2009 10:20am Dec 8, 2009 10:20am
Quoting DubaiTrader
Maybe he has several trades running at once? I agree risking 2-3% is fine per trade but as I said he could have 5/6/7 trades running.
Running 5 trades at 3% is the same as risking 15% at a time which still is easily possible with 100:1 leverage. Your just diversifiying your risk a bit but if shit hits the fan 15% of your account is gone.
Who ever thinks risking 15% of your account is not enough is just a plain noob.

1000 USD Balance. 15% Risk = 150 USD. Stop = 50 Pips leads to 3 Minilots on EURUSD.
3 Minilots = 30.000 Units. Margin Required = 442 USD. Money left after Stoploss = 850 USD

850 USD > 442 USD so where is the Problem? You still got shitloads of free margin. Well I guess you could use
that free margin to risk even more which totaly is what experienced traders would do.
  • #13
  • Dec 8, 2009 12:44pm Dec 8, 2009 12:44pm
Quoting Bluehills
I would like to use FXPro but they will be closing US accounts in the future. Doh!
im currenty in the US using fxpro but since theyre closing all US accounts, i need to look for a new one. i really liked fxpro, anything similar? im looking at alpari uk or fxsol uk but dont know much about them.
  • #14
  • Dec 8, 2009 1:37pm Dec 8, 2009 1:37pm
I totally agree with you if you know what your doing and have good dicipline it doesn't matter if you have 1000-1 leverage.... But as far as it taking longer to blow accounts it does not matter the leverage even 20-1 leverage or 1-1 no leverage at all! You can still max out your positions to the point where you get a margin call and can't place another trade.. So reducing leverage in the first place was an idiotic idea! Who is the moron that came up with it anyway?


Quoting PipStar
Hi mate, do you know that some people trade successfully with high leverage? Actually, I need very high leverage for my trading style and I am successful. Don't fall into this trap of thinking that high leverage is a bad thing. It isn't. It is a great tool for those who know how to use it. Good traders know how to make good use of it. And let's face it a poor trader will blow his account with low or high leverage the only difference being with low leverage it will take more time to lose it all.
I think it's unfortunate and it happens often:
-...
  • #15
  • Dec 8, 2009 4:26pm Dec 8, 2009 4:26pm
Quoting fc3s
im currenty in the US using fxpro but since theyre closing all US accounts, i need to look for a new one. i really liked fxpro, anything similar? im looking at alpari uk or fxsol uk but dont know much about them.

Alpari UK is not taking US customers either. I think FX Sol UK is taking US customers, but they just won't offer you CFDs. Frustrating, eh?
  • #16
  • Dec 8, 2009 4:48pm Dec 8, 2009 4:48pm
Quoting mofuniverse
I totally agree with you if you know what your doing and have good dicipline it doesn't matter if you have 1000-1 leverage.... But as far as it taking longer to blow accounts it does not matter the leverage even 20-1 leverage or 1-1 no leverage at all! You can still max out your positions to the point where you get a margin call and can't place another trade.. So reducing leverage in the first place was an idiotic idea! Who is the moron that came up with it anyway?

I'd rather get a margin call on 20:1 because you'd have way more money left afterwards.
  • #17
  • Dec 8, 2009 6:09pm Dec 8, 2009 6:09pm
Quoting Bluehills
Alpari UK is not taking US customers either. I think FX Sol UK is taking US customers, but they just won't offer you CFDs. Frustrating, eh?
You can try ATC Brokers which is MT4 through FXCM-UK. It's ECN, good spreads, $8/commission RT regardless of pair traded, and of course you get to have MT4 with an ECN rather than a market maker like Alpari.

I think they get around the "no US citizens at UK firms" by grouping all of their traders (ATC's) into one group, otherwise you'd need $10MM as an individual US citizen. I had to sign some paperwork when they went from FXCM-US to UK.

Not sure if that's what you're looking for, but I've been happy with them...
  • #18
  • Dec 8, 2009 6:14pm Dec 8, 2009 6:14pm
i've had bad experiences with fxcm us, not sure if fxcm uk is any better. guess i will have to check out fxsol uk, any others?
  • #19
  • Feb 9, 2010 12:05pm Feb 9, 2010 12:05pm
I am looking inty FxOpen, they seem kinda like FxPro but their deposit methods are sketch and none of them in instant. Plus all the bad reviews ( just like with any broker). I trried CMSFx for a couple of weeks, what a waste. free margin does not go below zero, so if you open a trade and you have just enough to open that trade, it closes it right back takes the spread and leave you with the rest. Their execution is extremely slow. Anyway, I really liked FxPro, could do whatever you wanted, and although I took some big losses, it was my own faulty MM or the lack of it. I never felt cheated out and robbed. This really Sucks...Does anyone know of any broker like FxPro?!?!?!?!
Thanks
The Sky is the Limit!
  • #20
  • Feb 9, 2010 1:31pm Feb 9, 2010 1:31pm
Dear FXPro I have 2 questions
1)It seems that you are reliable and I would love to invest to you but your business model is market maker which is not suitable for me or any profitable trader, so are you planing to propose ECN services?As soon as this option will be available I will be glad to try it
2)As I remember FXPro bought or changed the name from Northfinance my friend had around 20K in Northfinance which he had no chance to withdrawal, is FXPro responsible for this?
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