FXPIG discussion

There are brokers that are regulated by what some traders consider to be top regulators, and they still do bad things. IronFx is regulated by CySec, and there have been multiple warnings of fraud, yet they still continue to operate. Even the Financial Commission which is a 3rd party regulatory body (www.financialcommission.org) has issued warnings about this broker. There are plenty of brokers that will pay the licensing fees to regulators so they're "regulated". Yet fxcm was found guilty of violating their ECN/NDD policy, by owning their liquidity provider, and sending their clients trades to it. This happened while they were regulated in the USA. They did close up shop there, but it's unknown if any of the clients that they committed fraud against got any of their money back.

My first broker was an unregulated one called FinFx. They were great. Awesome spreads, fair commissions and fees, fast replies from their customer service, etc. While having a broker that is regulated by a well established regulatory body is a plus, it's no guarantee that they are 100% honest with you. Likewise, if a broker is regulated by a smaller body, it doesn't necessarily mean that they're a scam. Some licenses are very expensive to get. FxPig was regulated in New Zealand, then the government made it mandatory to pay extra in licensing fees, so they could offer services to clients in New Zealand and Australia. For smaller brokers, it's not worth it to pay that extra money, for a potentially small client base.

You can check out the discussions on another forum called donnaforex.com. The posts are fairly old, but Kevin answered all questions, and was very transparent about how things run, and why they choose to do the things they do. There was also a member of this site called realreason, who managed a PAMM account with FxPig. On his profile, you can see that he's withdrawn more money than he has put in. We're talking deposits of roughly $500k, and withdraws over $700k. Reviews at forex peace army are also very favorable for FxPig. You need to do your homework when looking for a broker. Not being regulated by the US/UK/ASIC/CySec is not the end of the world. There are still good brokers outside those regions.

Hello Lady´s and Gentlemen´s
I was thinking FXPig for future but I didnt still log in the Live with them.
Friday closing was interesting for FXPig with UChf and some other pairs too.
Other broker´s (one UK and second AU broker) I didnt see such moving before closing last friday.
Here is that UChf closing price was 0.96044 and movement was last min. My other brokers same time, 0.96391 and 0.96461

I wish you nice trading week.
-O-

When we are around the close, liquidity providers pull out their liquidity and that's the results. Some brokers (the serious one's) are "victims" of this, others are accomplices. One of the reason why holding position in the spot fx is a nightmare.

That post pretty much sums it up. When there's a high volume of activity in the markets, spreads tighten due to competition. LP's have to compete with one another in order to get retail traders to trade with them. When it's low activity, or the end of the week, the ball is in their court, and they can do what they want with the spreads. You see spreads widen quite a bit after 5pm EST when the trading day is over. However, about a half hour to hour afterwards, you see them begin to tighten up again.

It's best not to hold positions over the weekend. If you do, adjust your stoploss levels accordingly. Then about an hour or so once the markets open up the following week, tighten your stoploss levels to where you think they're appropriate.

I am interested in live account order execution times for market orders on the spa feed (well, mpa, too), please. If someone can comment on it I would appreciate.

spa:

70-80 ms + your latency to their LD4 live server.

In my case the overall execution time is 100-110 ms

If you have more questions, chat with them or contact them directly.
They are awesome.

Thank you. Looks good.
I find it awesome that they give FIX access at no extra cost (ok, it comes with cTrader for free). And LD is the place.

Hello I'm looking into FxPig, very interesting thread...

Has anyone here ever had ANY problems withdrawing from FxPig?

Oh and another question...

Where is Kevin (from FxPig)? He used to come here and answer questions....his last post was ~ a year and half ago.....what's up?

Hi, been with FX Pig for a little while. No trouble withdrawing and great customer service via their website chat. Would recommend.