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Should I switch to fxpro?

  • #1
  • First Post: Oct 23, 2009 6:45am Oct 23, 2009 6:45am
Been looking for another broker for ages. Want to try FX Pro.
I think there are 2 different account types you can open.
The minimum for the small account is $500 and the other is $25000 i guess.

What is the difference? Do I get the same low spreads with the small account? What is the minimum order Size?

On the demo Version it's 0.1 Lots. Is it the same with the real account? Anything else I should know about this Broker?

Thanks.
  • #2
  • Oct 23, 2009 8:00am Oct 23, 2009 8:00am
They have a live chat. Why don't you ask them about 500$ and 25.000$ accounts spread? I guess that for 25000$ they offer STP. Lower than that all orders are processed through the dealing desk.

0.1 lots is indeed the minimum requirements to open an order.
  • #3
  • Oct 23, 2009 8:25am Oct 23, 2009 8:25am
Thanks, just had a livechat. There is no difference, the spread is the same.
You just get more features with the Premium Account, like Visa Card etc.
  • #4
  • Oct 23, 2009 8:39am Oct 23, 2009 8:39am
I trade with FxPro.

I opened a $500 account, and get EURUSD spreads of 0.8. Though this week it seems to have gone up a little, to around 1.0 - 1.2
I get around 1.0 for USDGBP, and 0.8 for USDJPY.

My sister opened an account with only $400, less than the minimum but they let her trade. Afaik also gets low spreads.

0.1 contracts is the minimum trade size, that is, $1/pip.
  • #5
  • Oct 23, 2009 12:21pm Oct 23, 2009 12:21pm
The spread on fxpro is ok, however execution sometimes is not so good!

If they can solve that problem would be verry good broker.

But for now that is an issue.
  • #6
  • Oct 24, 2009 7:00am Oct 24, 2009 7:00am
@Razorman, What is "not so good" in your eyes?

@nonamebrand, so you're happy with them? Any comparison to other Brokers?
  • #7
  • Oct 29, 2009 12:25am Oct 29, 2009 12:25am
Quoting pipnapper
@Razorman, What is "not so good" in your eyes?

@nonamebrand, so you're happy with them? Any comparison to other Brokers?
I use the fxpro demo account every day. It is pretty good in general but the software sometimes disconnects on me. This could be due to the fact that I live in Australia and is far away from their servers maybe.

But for me, I'm sticking with Oanda for live trading and Fxpro demo account for looking at longer term charts etc.
  • #8
  • Oct 29, 2009 1:26am Oct 29, 2009 1:26am
Quoting Pollux
They have a live chat. Why don't you ask them about 500$ and 25.000$ accounts spread? I guess that for 25000$ they offer STP. Lower than that all orders are processed through the dealing desk.

0.1 lots is indeed the minimum requirements to open an order.
I have a live account with FxPro, did not know that if you have 25,000 you would have STP.....is that ur personal experience with them ?
  • #9
  • Oct 29, 2009 5:09am Oct 29, 2009 5:09am
No STP with Fxpro I don't think? I'll get on live chat and find out.

What's with the Fxpro threads? At least 4 to be reading already!
  • #10
  • Oct 29, 2009 7:40am Oct 29, 2009 7:40am
Quoting DubaiTrader
No STP with Fxpro I don't think? I'll get on live chat and find out.

What's with the Fxpro threads? At least 4 to be reading already!
Probably because the NFA is getting stricter and stricter, people are looking around now...outside US broker, maybe ???
  • #11
  • Oct 29, 2009 10:39am Oct 29, 2009 10:39am
Someone told me ... they no longer accept US Citizens. Any truth to this?

ut2
  • #12
  • Oct 29, 2009 11:04am Oct 29, 2009 11:04am
Quoting ut2DaMax
Someone told me ... they no longer accept US Citizens. Any truth to this?

ut2
Sadly-Its true! They dont like Americans or their money.
FF = Forex Faggots
  • #13
  • Oct 29, 2009 10:36pm Oct 29, 2009 10:36pm
Quoting 8fingers
Sadly-Its true! They dont like Americans or their money.
Did they mention any reason why ?
  • #14
  • Oct 29, 2009 10:52pm Oct 29, 2009 10:52pm
Of course not. No reason given. Maybe I shouldnt of dropped so many f-bombs the last time one of my deposits were declined. Oh well-looks like I will have to learn those FIFO tactics after all?
FF = Forex Faggots
  • #15
  • Oct 29, 2009 11:27pm Oct 29, 2009 11:27pm
Quoting 8fingers
Of course not. No reason given. Maybe I shouldnt of dropped so many f-bombs the last time one of my deposits were declined. Oh well-looks like I will have to learn those FIFO tactics after all?
btw, what is this all NFA FIFO about ? Can someone point out the exact benefit/trouble so such of restriction had to be put in place ?

I was under the impression that it is just a matter of synthezing your position gobally at broker server, if you have 1 long in profit a 100 pips and another long in red at -100 pips, overall you are 0, i am not seeing why it is so important to close the first one before the other one from an equity point of view, that won't change....unless i miss a part of the equation
  • #16
  • Oct 30, 2009 8:40am Oct 30, 2009 8:40am
Quoting ut2DaMax
Someone told me ... they no longer accept US Citizens. Any truth to this?

ut2
Today i have a chat with FxPro support via Skype. Here is the conversation:


[9:31:39 PM] me: Another question, i heard FxPro not accepting US client, it is true?

[9:31:56 PM] FxPro Support: yes thats correct

[9:32:13 PM] FxPro Support: 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

[9:32:47 PM] me: Ok thanks for your explanation. I will tell my US friend.

[9:33:17 PM] FxPro Support: thank you
  • #17
  • Oct 31, 2009 7:15pm Oct 31, 2009 7:15pm
Quoting mattrader
Today i have a chat with FxPro support via Skype. Here is the conversation:


[9:31:39 PM] me: Another question, i heard FxPro not accepting US client, it is true?

[9:31:56 PM] FxPro Support: yes thats correct

[9:32:13 PM] FxPro Support: 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

[9:32:47 PM] me: Ok thanks for your explanation. I will tell my US friend.

[9:33:17 PM] FxPro Support: thank you...
Well, strange, this is not like selling wine or cheese, where this or this country could make the difference on the product, what's the difference between an US customer and an European Customer, money is the same money everywhere and an account is an account.... in the other hand, there is this US broker who does not accept japanese resident so after all it might make sense for them to do so....
  • #18
  • Nov 1, 2009 2:32am Nov 1, 2009 2:32am
FXPro sent out an email saying that they would no longer take US clients because they were now only dealing with EU and emerging markets.

However they are still taking clients from all countries EXCEPT USA. If you live in Canada, Mexico, or any Central or South American country your ok. So its not a geographical deal after all. You can go here https://www.fxpro.co.uk/open-account to see. Is Canada considered an "emerging market"?

Guess FXPro has become just another European broker who chooses not to do business with USA, only.
  • #19
  • Nov 1, 2009 3:53am Nov 1, 2009 3:53am
It's the US that is pulling himself out of the game...
  • #20
  • Nov 1, 2009 9:33am Nov 1, 2009 9:33am
There must be a reason for that. Could it be that they just dont want to deal with the NFA and their senseless regulations?

I really don't know, but maybe they would have to follow US regulations if they have US Customers. It seems NFA wants to kill forex retail traders. Who knows, I'm sure they have a reason for that.
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