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Experiences with FxPro

  • #321
  • Jan 4, 2013 10:53am Jan 4, 2013 10:53am
fxpro will trade against you, that's what some brokers do. FXCM doing that too.
If true ecn, the order will pass to real bank. Usually they need 10,000 or higher per trade
  • #322
  • Jan 4, 2013 5:03pm Jan 4, 2013 5:03pm
fxpro will trade against you.
I agree.
Quoting MoreYummy
fxpro will trade against you, that's what some brokers do. FXCM doing that too.
If true ecn, the order will pass to real bank. Usually they need 10,000 or higher per trade
  • #323
  • Jan 4, 2013 5:52pm Jan 4, 2013 5:52pm
Thanks for the reply?
What makes you assume that they trade against you
is it a personal experience ?
is it their statement I quoted above in prev post?
is it their almost always balanced limit order book ?

and if it is true that Brokers Claiming to be ECN NDD , are DD MArket Makers, where should we go ....???
are we "Retail Trader" only considered liquidity Source/Sink as in a transmission Line, where you terminate transmitted signal at the end LoL.
How would I trust that even if I am profitable that they "brokers" will be pay me my profits and not claim that I am violating their """"Terms & Conditions"""" as I have read in some posts ??
  • #324
  • Jan 5, 2013 2:32am Jan 5, 2013 2:32am
hello haniyasin, i think almost every retail broker is market maker. I think as long as the broker doesnt hold your funds when you withdraw nor cheat on you (like obvious stop loss hunting or wiped your positive trading history, complete scam like that) it's OK to trade with them. Dont be too paranoid.

even if they give you access directly to their LP, keep in mind the LP might still cheat against us by manipulating our charts. I think as long as our method doesnt rely on 1-2 pip difference, like we chase trends with 40-90 pips TP, and that kind of thing, there wont be much issue.

I have done my research and lately PMing several senior traders that I trust (also I contacted 1 senior trader that i know in real life and he's making a living from trading) and none of them ever had any withdrawal issue with regulated brokers. Sure there will be some issues like lags, freeze, stop loss hunting, but i think it's completely scam if the broker dont withdraw your money and stuffs like that. FXPro, in this case, wont do such thing. I also questioned the other thread where someone was making claim FXPro did not pay his money back in April 2012 when he withdrew but I think that man was a fraud because he didnt prove it when someone else asked him to and his answer was like avoiding the details in page 4-5 or something.

Basically lots of brokers cheat at times but they won't hold your money for withdrawal or erase your winning history as long as you dont violate their terms either. I think the wisest choice is to get 4-5 accounts with different regulated brokers and spread your money.

Me too, was bit confused just like you. I do my research for broker A to Z and all of them always have complaints. But in the end if you are not a scalper that needs to be on chart all the time (especially during news time) and have very tight stop loss trading method, you wont find much issue with regulated brokers.
  • #325
  • Jan 5, 2013 4:56am Jan 5, 2013 4:56am
is it a personal experience ?
Yes, over 4 years.
Quoting haniyasin
Thanks for the reply?
What makes you assume that they trade against you
is it a personal experience ?
is it their statement I quoted above in prev post?
is it their almost always balanced limit order book ?

and if it is true that Brokers Claiming to be ECN NDD , are DD MArket Makers, where should we go ....???
are we "Retail Trader" only considered liquidity Source/Sink as in a transmission Line, where you terminate transmitted signal at the end LoL.
How would I trust that even if I am profitable that they "brokers" will...
  • #326
  • Jan 5, 2013 12:54pm Jan 5, 2013 12:54pm
Quoting haniyasin
Hi everybody ;
1- can some one please explain FxPro :" All FxPro cTrader clients trade anonymously at all times as the counterparty to the trades is FxPro whilst FxPro is the counterparty to all trades with the banks." ??
2- and if they are counter-party isn't this conflict of interest ? is isn’t this what Market Maker does and not a true ECN?
3-why the Fxpro Limit order book is almost always " say EUR/USD " is in balance 28.6 M bids /28.6 M Asks it is rarely that I would see any imbalance ? what does that mean ?
I'm not from FXPro, but the guys who posted after you do not have the slightest idea of what they are talking about. Even worse, they do not know what the difference between an ECN and STP is.

Reason is, you misunderstood this sentence: "All FxPro cTrader clients trade anonymously at all times as the counterparty to the trades is FxPro whilst FxPro is the counterparty to all trades with the banks."

What this means is this: Let's assume that you make a trade, let's say you buy 10'000 Units EURUSD at 1.3000. FXPro takes that order and immediately forwards that trade to either a Bank, or multiple liquidity providers. That's what's called STP Straight Through Processing.

The Banks and/or Liquidity providers who take that order from FXPro can only see that this order comes from FXPro, but not from what person it comes i.e. John Doe from Alabama. That's why those Clients are anonymous and that's what that sentence says.

Optionally, I'm not sure if that have this or not, instead of forwarding the trade to a bank, as an option they can match your order against another FXPro customer. That's what's called Electronic Communications Network ECN.

I got no reason to defend FXPro but I do think they are forwarding orders via STP, why wouldn't they? Having a STP is nothing special anymore these days.
Forex is a losers game.
  • #327
  • Jan 5, 2013 3:55pm Jan 5, 2013 3:55pm
Thanx trader121 ,
I wish they are , at least that will end my search, for a trustful transparent broker within the my account opening budget
but when
1-I see a limit order book in balance most of the time I would take that with a grain of salt
2-you can explain a counter-party as an STP , but the guys there separated the process of routing the order into two parts they are the middle-man how straight can that be (processing wise)
3-They also use "aggregates the volume received from third party liquidity providers and executes the ‘market order’ at VWAP (‘Volume-Weighted Average Price’) that is the average and best available price at the time of the execution." quoting their site

I can totally understand that a broker needs to minimize his capital exposure to his liquidity providers, by hedging losing trades, but again that would mean to me a conflict of interest with his clients, If I understand things right during my reading more than trading I think what happens is that ECN,STP, DMA brokers name the technology you wish as long as they use leverage they should have conflict of interest at some point in time with some unlucky trader, you may get profitable they won't care as long as another client is loosing the same amount, it is the moment when you are in an open-position and all other positions cancelled each other (loss/profit) they intervene by hedging your position, and at this specific moment you shall face a conflict of interest with your broker if you are profiting .

I may agree with rsg10z if you are aiming higher TP you would not care , since the broker may not care as long as other traders are covering your profit with their loss
unless at some specific time you hurt your broker then guess what???

I hope and wish and pray that this is not the case, and that there is really transparency , this why I asked my questions in the first place and let me please rephrase :
1- what info the depth of market reveal (whose limit orders are these)
2-does it show your broker activity?
3-is it really what I see is a true depth of market (at least for the providers, and clients) , or am I in the matrix and computer generated code is being displayed, how can we tell the truth.


  • #328
  • Jan 6, 2013 5:29am Jan 6, 2013 5:29am
Quoting haniyasin
I hope and wish and pray that this is not the case, and that there is really transparency , this why I asked my questions in the first place and let me please rephrase :
1- what info the depth of market reveal (whose limit orders are these)
2-does it show your broker activity?
3-is it really what I see is a true depth of market (at least for the providers, and clients) , or am I in the matrix and computer generated code is being displayed, how can we tell the truth.
At the end of the day, it absolutely does not matter what kind of data is visible in the Depth Of Market DOM, becuase most retailers I would say 99% of the retailers do not need a DOM anyway.

A DOM is useful when you are in search for liquidity, most retailers aren't. If you trade regularly with more than 10 Million or you are an institutional Investor who need to place large orders, then a DOM is indeed useful to see what impace the placement of the order has on the market price.
Forex is a losers game.
  • #329
  • Jan 9, 2013 8:00am Jan 9, 2013 8:00am
Dear member,

MT4 and cTader are two different environments.
Where MT5 has ECN capabilities, MT4 doesn’t thus losing a number of important functionalities if it were to connect to cTrader.

If you have any specific questions please let us know and we will happily reply.

Regards,

FxPro


Quoting IndigoPingvi
It would be nice to connect MT4 or MT5 to your ECN, just like (will not name the broker). I got used to MetaTrader and I can't get used to cTrader. I enjoyed trading with FxPro, I like your Daily bar closing hours, there were only a few outages, I very much like Daily Forex Brief, but I guess I got one re-quote to many on MT4. I understand that some of these re-quotes may be in my favor but it became frustrating.
Trading CFDs involves significant risk of loss.
  • #330
  • Feb 4, 2013 11:42pm Feb 4, 2013 11:42pm
Hey guys!

Do you guys have problems with withdraw money lately?

I opened the Account with fxpro.au one month ago, and I was trying to withdraw two days ago but till right now.

When i logged in my account and selected the account i want to withdraw and then choose bank transfer, it just loaded the same page which look exactly the same! it happend to credit care withdraw too.

Its so weird that the deposit function is ok but withdraw function is not working!

Does anyone try to withdraw these two days?
  • #331
  • Feb 4, 2013 11:57pm Feb 4, 2013 11:57pm
Quoting sunhoyu
Hey guys!

Do you guys have problems with withdraw money lately?

I opened the Account with fxpro.au one month ago, and I was trying to withdraw two days ago but till right now.

When i logged in my account and selected the account i want to withdraw and then choose bank transfer, it just loaded the same page which look exactly the same! it happend to credit care withdraw too.

Its so weird that the deposit function is ok but withdraw function is not working!

Does anyone try to withdraw these two days?
Go to there Live Chat and speak about it..

I did use withdraw function, 1 day back.. the page was working fine. They have a new layout.
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #332
  • Feb 5, 2013 12:41am Feb 5, 2013 12:41am
Quoting aviz12
Go to there Live Chat and speak about it..

I did use withdraw function, 1 day back.. the page was working fine. They have a new layout.
hi aviz12,


did u just click on the withdraw button on the top, choose the account and then withdraw option?

can you send me the link where you can fill out your withdraw application?

I have tried on three different computer and it still not working for me.

Thanks
  • #333
  • Mar 1, 2013 3:37am Mar 1, 2013 3:37am
au. office is shut down.
Cheer up fxpro.
http://forexmagnates.com/fxpro-shuts...ralian-office/
Quoting sunhoyu
hi aviz12,


did u just click on the withdraw button on the top, choose the account and then withdraw option?

can you send me the link where you can fill out your withdraw application?

I have tried on three different computer and it still not working for me.

Thanks
  • #334
  • Mar 20, 2013 4:24pm Mar 20, 2013 4:24pm
Has anyone else noticed that FxPro MT4 is starting the new trading day 1 hour after NY close instead of at NY close (5pm EST)? I'm assuming this is due to daylight savings time working its way through the world at different times. Or something... Pepperstone's MT4 also goes off of NY close, and their MT4 is working just fine (new daily candle starts at 5pm EST). When is FxPro's MT4 going to get slapped back into shape?
Get money, don't let money get you. @kauaiforex
  • #335
  • Apr 12, 2013 4:32am Apr 12, 2013 4:32am
Hello All,

I am a newbie here, i have been trading with FxPro for 6months ( I usually just buy and sell shares) and i am getting a bit annoyed, I have been both making and losing money but maintaining my initial deposit of around 5k. BUT, in the last 4 weeks i have doubled my initial investment and now all of a sudfden despite using the exact same set up and indicators i am receiving alot of requotes and slippage. Now i know this Agency model business is just another name to make a company look more legit, but if that was the case why would this occur?!
  • #336
  • Apr 12, 2013 9:55pm Apr 12, 2013 9:55pm
I have been trade with fxpro over 5years.
their mt4 is terrible.
their ctrader is often freezing.
Your mental will be collapsed.

Quoting PeterWalter
Hello All, I am a newbie here, i have been trading with FxPro for 6months ( I usually just buy and sell shares) and i am getting a bit annoyed, I have been both making and losing money but maintaining my initial deposit of around 5k. BUT, in the last 4 weeks i have doubled my initial investment and now all of a sudfden despite using the exact same set up and indicators i am receiving alot of requotes and slippage. Now i know this Agency model business is just another name to make a company look more legit, but if that was the case why would this...
  • #337
  • Apr 15, 2013 4:50am Apr 15, 2013 4:50am
Quoting entheos
I have been trade with fxpro over 5years. their mt4 is terrible. their ctrader is often freezing. Your mental will be collapsed.
Curious as to why you would continue to trade with FxPro for 5 years if it is that terrible. Any broker who has given me poor service I have left pretty quickly!! I don't think I would put up with it for 5 years and then complain.
  • #338
  • Apr 15, 2013 5:08am Apr 15, 2013 5:08am
Quoting Abcpip
Curious as to why you would continue to trade with FxPro for 5 years if it is that terrible. Any broker who has given me poor service I have left pretty quickly!! I don't think I would put up with it for 5 years and then complain.
You are right.
Silly me.
But they are all bastards!
Who is your brokers?
  • #339
  • Apr 15, 2013 9:31pm Apr 15, 2013 9:31pm
Anyone notice this?

FXPRO now claims that they are headquartered from UK.
Look like they are trying to hide away its being a Cypriot broker.

Any effect on this?

For one, it appears that our fund are not really kept in Cyprus.
  • #340
  • Apr 15, 2013 9:35pm Apr 15, 2013 9:35pm
Quoting sunhoyu
Hey guys! Do you guys have problems with withdraw money lately? I opened the Account with fxpro.au one month ago, and I was trying to withdraw two days ago but till right now. When i logged in my account and selected the account i want to withdraw and then choose bank transfer, it just loaded the same page which look exactly the same! it happend to credit care withdraw too. Its so weird that the deposit function is ok but withdraw function is not working! Does anyone try to withdraw these two days?
I've been makign a numerous withdrawals in 2013.
No problem so far (for paypal and moneybookers).

Anw, it looks like FXPRO.com.au is shutted down.
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