FXPRO

[ggrays1999]

Re: FXPRO.COM

 

My only concern with them is .1 lots are their minimum and are $1 a pip.

Definitely demo with them first, but they do have great leverage at 500:1

[Lord_Sauron]

Re: FXPRO.COM

 

well I'm already with a broker that has a minimum of .1 and is also a bucketshop :"> What I like about FXPRO is that it accepts payments from credit cards from my country (its a new country so no paypal yet), has a good execution and low spreads, and most of all wont scam you out of your money =D> at least I hope so :-ss

 

QUESTION: do they allow splitting of the existing account (when you double it for example), or do you have to withdraw some money and then open another one?

[scarface]

Re: FXPRO.COM

 

well I'm already with a broker that has a minimum of .1 and is also a bucketshop :"> What I like about FXPRO is that it accepts payments from credit cards from my country (its a new country so no paypal yet), has a good execution and low spreads, and most of all wont scam you out of your money =D> at least I hope so :-ss

 

QUESTION: do they allow splitting of the existing account (when you double it for example), or do you have to withdraw some money and then open another one?

 

Hi bro,

 

Yes, they allow splitting your account if you doubled your main account. You don't need to do a lot, but only to go to your "MYFxpro" online account, and add new account and select the new account info like currency base and how much you want to transfer to the new account, etc.

 

There are a lot of options with Fxpro. It is truly # 1 broker.

 

Best wishes

[ferry678]

Re: FXPRO.COM

 

I've been in Fxpro.They are so stiff when we withdraw fund

[Lord_Sauron]

Re: FXPRO.COM

 

could you give an example of such stiffness? they make you wait? or ask additional proof?

[scarface]

Re: FXPRO.COM

 

I've been in Fxpro.They are so stiff when we withdraw fund

 

 

Hi,

 

It is true, but they do that to make sure that you are the owner of the account. The don't want to cause their clients any problem letting others to withdraw money "you can say stealing it" in easy way.

 

They need to verify all that, and I guess they are right about it. I still agree with them in this point because eventually it worth it.

 

Best wishes,

[Rengoku]

Re: FXPRO

 

FXPro is a great broker! The only thing is their withdrawals are a pain! They don’t try to ripe you off or anything they just have their rules which make things more difficult... mainly for you first withdrawal! Other than that... no problems! Great spreads even though they are now variable! And they don’t screw with your trades!!! Which is rare in my opinion! No disconnection problems either!

[scarface]

Re: FXPRO

 

FXPro is a great broker! The only thing is their withdrawals are a pain! They don’t try to ripe you off or anything they just have their rules which make things more difficult... mainly for you first withdrawal! Other than that... no problems! Great spreads even though they are now variable! And they don’t screw with your trades!!! Which is rare in my opinion! No disconnection problems either!

 

Hi,

 

I totally agree with you and agree with FxPro process in being so much pain in withdrawing money. They just want to avoid any problems and complains because it happened in the past that some issues related withdrawal stealing or ripping off by non-owner account. That case was like someone who has real account with xxxxx broker could transfer some money from others account in the same xxxxx broker or withdrawing money without proving he/she is the owner of that account.

 

Be very careful in opening real account with any broker. You should make sure about the rules of how deposit or withdraw money.

 

Best wishes,

[Chip4Pips]

Re: FXPRO

 

FxPro is no longer accepting new U.S.-based clients and existing clients will eventually be winding down operations with them per the chat transcript posted below from a few minutes ago:

 

info: Thank you for contacting FxPro Live-support. The next available operator will be assigned to you.

info: You are now chatting with 'Lorraine', May i have your FxPro account number please?

you: xxxxxx

Lorraine: Hello, How may I assist you?

you: I read on a message board that FxPro is no longer accepting US clients. If true, how is this going to impact existing relationships?

Lorraine: The Company has decided to concentrate on the EU and emerging markets where it has a niche. In light of this strategic decision, the Company is not accepting new clients that reside in the US. Existing clients residing in the US will be given sufficient time to manage their positions and portfolios, and further notice will be provided to them soon.

you: Thanks for the clarification.

Lorraine: You're welcome

[masters]

Re: FXPRO

 

ok i just talked to one and i got the feeling they will be keeping all active u.s. accounts for a long time here is my conversation;

 

Thank you for contacting FxPro Live-support. The next available operator will be assigned to you.

 

You are now chatting with 'Malek', May i have your FxPro account number please?

 

Malek: Hello, How may I assist you?

you: hi malek I have been a customer for while now and I had read somewhere you wil no longer accept us customers. will existing customers be able to keep ther accounts?

Malek: that's correct

Malek: [08:48:40] angie.hall58: WORDING TO BE USED WITH CLIENTS IS AS FOLLOWS:

Malek: New US Clients / US Prospects

Malek: The Company has decided to concentrate on the EU and emerging markets where

Malek: it has a niche. In light of this strategic decision, the Company is not

Malek: accepting new clients that reside in the US.

Malek: Existing US Clients

Malek: The Company has decided to concentrate on the EU and emerging markets where

Malek: it has a niche. In light of this strategic decision, the Company is not

Malek: accepting new clients that reside in the US. Existing clients residing in

Malek: the US will be given sufficient time to manage their positions and

Malek: portfolios, and further notice will be provided to them soon.

you: will us clients that already have an account be able to keep there acount active

Malek: yes

Malek: they will

you: say even in 5 years

Malek: they can even apply for a new account i

Malek: I am afraid I can't give you any exact time

you: i just want to make sure that you guys dont plan to close acounts that are active.

Malek: No

[scarface]

Re: FXPRO

 

Hi masters,

 

Thanks master for your post, and I agree with what you said.

 

U.S clients are no longer be able to open real account with Fxpro for some reasons.

 

However, the existing U.S clients will continue with Fxpro as normal, and they are not restricted with any new rules. Also, if a new rule comes up, they would be informed few months in advance by email or phone or even both.

 

I hope this piece of info is useful.

 

Best wishes,

[Chip4Pips]

Re: FXPRO

 

Funny that the story seems a little different in each conversation.

 

Just glad that I won't have to move things around for now.

[Chip4Pips]

Re: FXPRO

 

Received this notice today:

 

Dear Client

 

As part of our commitment at FxPro to being transparent and supportive of our clients, and making sure you are informed of any important business developments, we are now writing to all of you with an update about a strategic business decision we have made about the provision of services.

 

Since the launch of our business, FxPro has developed good business with clients across the globe, in over 120 countries. We are proud of this achievement, as we are in the ability to serve you in 10 languages, with platforms that operate in 17 more besides, and a Customer Support team that cares about delivering quality of service to each and every one of you.

 

For some time now we have recognised that the majority of you, our clients, are resident across the European Union countries and our emerging markets. Our growth in these particular markets has become one of our core strengths. We have therefore decided to focus our business solely within these geographies and clients who reside within them.

 

According to our records, you have been identified as being a resident of the United States of America and for all of our clients who are currently residing in the US, we recognise the importance of this decision to you and we apologise for any inconvenience this development may cause you. However, in order to make every effort to treat all clients fairly during this decision and to reduce any impact on your trading activity we wish to give you a full three-month notice period prior to implementation, therefore allowing you sufficient time to wind down your trading activity, and manage your portfolios successfully.

 

 

 

Procedure for managing existing Accounts:

 

This applies to all Trading Accounts which belong to US Resident Clients

 

At the closing of the day of the 25th January 2010 (00:00 Server Time) all affected Trading Accounts are expected to have NO Open Positions. At the same time ALL Pending Orders will be cancelled, and All Open Positions will be automatically closed at that time at the last available price.

After the 25th January 2010, the status of these Trading Accounts will be set to “Read Only” in the MT4 Trading Platform, meaning that NO Trading activity can be performed, but fully accessible for reference and historical analysis. On January 26th 2010, all remaining funds in the accounts will be refunded to the original source.

If you have received this communication in error and are not a U.S. resident we strongly urge you to contact our Backoffice department, [email protected] who will guide and assist you accordingly.

 

Following this notice, we will subsequently send out reminder notices by email to US resident FxPro traders only, two months’ prior and one month prior to 25 January 2010.

 

Thank you for taking the time to read this update.

 

Vincent Lee

 

Head of Customer Support

[PAJEAZ]

Re: FXPRO

 

thanks for this forum.

been trade fx for 6month, have a problem when first time wd from this broker.finally using local exchanger to get it.soo fast.but will looking another broker

[staw]

Re: FXPRO

 

I have a question for those who use this broker for live account-do you expirience any kind of "stop hunting" activities behind the scenes ?

And another one-this is not an ECN broker,is it? Market maker then ?!

And what about slippage and pending order execution-is ti exact where you whan it or is there any problems with it ?

[hermanhess]

Re: FXPRO

 

I have a question for those who use this broker for live account-do you expirience any kind of "stop hunting" activities behind the scenes ?

And another one-this is not an ECN broker,is it? Market maker then ?!

And what about slippage and pending order execution-is ti exact where you whan it or is there any problems with it ?

 

Hi

 

I have also a live account with fxpro, no problems till date.

 

You are probably a new trader? Is my assumption correct? Unless ur a scalper stop hunting will not effect you. Stop hunting is a very detailed topic. In the OTC market as there is no centralised exchange its not possible to know by how much the broker marks up the spread from what they receive. This is true for all brokers even with an ECN you will notice a difference between the bid and the ask (most of the time) how do you know they're not marking up the price?

 

Stop hunting actually originated in the pits by pit traders as they had all the orders they knew excatly where the stops were and would bid price up or down to take out stops. This was called open outcry system. But even in those days there were off floor traders who made a lot of money. Millions of dollars.

 

So my advice to you is not to worry about stop hunting UNLESS you are a ultra short term scalper. The most important factor in selecting a broker is safety of funds. Other important issues are spreads, fills/execution, support, server down time, additional fees.

 

Regarding slippage its reasonable fills for the forex markets. Actually you want some small degree slippage during news times, because then you know they are actually passing on orders and not taking the other side of your orders, If any broker guarantees stops or fills it means only one thing -----> They are taking the other side of your order otherwise how else can they guarantee this?

[staw]

Re: FXPRO

 

hermanhess, thank you very much for the detailed answer ! :)

How long have You been live with fxPro(if it is not a secret) ?

Yes, I'm relatively new in forex :) .

Well, I'm not exactly a scalper-I'm a "market follower", if it is possible to call me(and my main strategy) this way-so my profit depends on market-I know when to enter,but my exit depends on what market does... And the "problem" is that my SL is always few times less than TP and it(SL) could be as little as 10-15pips(+spread), but TP is higher(how much higher-depends on market).

While it works great on paper trading and demo trading, I don't know what to expect from a broker, who ´could´ take other side of my possition and "work" against me... That's why I was asking about stop-hunting and such stuff...

Regards; :)>-

[hermanhess]

Re: FXPRO

 

hermanhess, thank you very much for the detailed answer ! :)

How long have You been live with fxPro(if it is not a secret) ?

Yes, I'm relatively new in forex :) .

Well, I'm not exactly a scalper-I'm a "market follower", if it is possible to call me(and my main strategy) this way-so my profit depends on market-I know when to enter,but my exit depends on what market does... And the "problem" is that my SL is always few times less than TP and it(SL) could be as little as 10-15pips(+spread), but TP is higher(how much higher-depends on market).

While it works great on paper trading and demo trading, I don't know what to expect from a broker, who ´could´ take other side of my possition and "work" against me... That's why I was asking about stop-hunting and such stuff...

Regards; :)>-

 

 

no secrets between II mmebers ;)

 

been with them for less than a year now, 10-15 pips sl is rather small its very hard to succeed because of market noise, your chances of long term success are very slim. I dont mean to sound discouraging or anything but its just i want to pass on my advice to you for ur success.

 

Also demo is a complete waste of time in my opinion. The only use it has is of you becoming familiar with the trading platform u use. You know what happens when u click the buttons and how price behaves during news times and what hedging is and all that stuff. Well maybe its not a complete waste of time say its worth only about 2-3 days or max a week of demo is useful.

 

Trading has a lot to do with emotions not logic, markets run on emotions not logic and in demo you're not testing your emotions deep down inside you know its only pretend playing. (Read the book Reminescences of a stock operator).

 

Even if a broker takes the otherside of your position he cant stop you out if you have a wide stoploss. Well he can but its not worth the effort to him unless a lot of stops are clustered in that area. Also he cant deviate the price too much from the interbank mean because then arbitragers will step in. These arbitragers are constantly watching the market with automated s/w and looking for price descrepencies they can profit from.

 

My advice is transfer ur strategy to a higher time frame it will give u a better chance of success not because of stop hunting but because of market noise. If and when u succeed on a higher time frame only then consider moving to a lower time frame. Also dont waste any more time with demo start immediately with a small live account, stop hunting is at present the least of your problems.

[staw]

Re: FXPRO

 

hermanhess, Thank you for the answer.

I use a tight SL, so it gives me godd RR ratio. I see your point about the other things and agree with you.

Just the last question-what about spreads and order execution?I did some research on them , but the reviews were quite controversals...

[scarface]

Re: FXPRO

 

Hi staw,

 

Good day,

 

I want to share my experience as well about Fxpro.

 

So far it is not bad. I guess it is one of the best brokers. The spreads are quite small especially on EURUSD ranging from 0.8 to 1.8 max, and never seen it higher than that except during major news as usual for all brokers.

 

Now, for execution as I can see it is almost the same as other brokers fast enough to place a position, but gets hard or say "re-quote" a lot during major news. Again it is a very common thing as I have seen it with other brokers as well.

 

I hope this is useful.

 

Best wishes,

[hermanhess]

Re: FXPRO

 

spreads are on the lower side compared to other brokers, execution is reasonably good. No problems so far.

 

Only problem you might face is if you have a small account because the lowest size they offer is 10000 units of currency called a minilot. As other members have pointed out this size may be too large for a smaller account. If you have a reasonable sized account then this will not be a problem for you.

[tipuwang]

Re: FXPRO

 

FXPRO have no problem with commercial EAs, any EAs will work with FXPRO as long as your min deposite is usd500. But the min lot size is 0.1.

[forexfx]

Re: FXPRO

 

FXPRO have no problem with commercial EAs, any EAs will work with FXPRO as long as your min deposite is usd500. But the min lot size is 0.1.

 

Thats the turn-off point

 

Do you guys know any EA that can survive trading only 500usd with 0.1 lot size ? #:-S

Please share :)

[flib]

Re: FXPRO

 

h**p://ftalphaville.ft.com/blog/2010/03/18/179866/say-thank-you-to-mifid/

[spycat]

HI BEWARE OF FXPRO

 

FXPRO.com is totally scam.

i know somebody that has revealed many positive reviews to be fake . In fact they are cheating clients .. Requotes and slipage as soon as they find high volume traders . Also they are very unhonest to clients .. 100 % Marketmaker and they use Boston Technologies Plug In to hunt SL

 

 

There is no reason to use them

 

take care