FxPro Questions and Answers

Hi everyone,

My name is Lianna Rumsey, customer support manager at FxPro. I have created this thread in order to encourage those of you who have any questions about our trading facilities to post them here where I hope to be of assistance to you. Whether you're an existing or a former FxPro client, or just browsing for brokers I’d be happy to help with your queries. I'm not here to sell anything or solicit business for the company, just to answer your questions and hopefully stem the tide of identical questions we tend to get on the support desk.

Look forward to talking with you.

Lianna,

Is FXpro a ECN or STP?

Hi there!

FxPro is an ‘Agency model’ broker; we currently offer two account types under this model, one of which is an ECN/STP account.

This account type operates using the cTrader platform. The Prices for this platform are streamed by an aggregation of Tier 1 Liquidity Providers; all orders are placed directly with these Liquidity Providers via Straight-Through-Processing and then executed at VWAP prices (Volume-Weighted Average price). The execution type therefore is ‘Market execution’ as orders are executed directly into the market without any Dealing Desk Execution.

We also operate a separate account type using the MT4 Trading platform, which operates under an “Instant Execution” model, whereby trades are executed in Mt4 and then placed directly into the market without Dealing Desk intervention.

If you require any more information please feel free to contact me or to consult our website at http://www.fxpro.co.uk/trading/platforms/ecn to learn more about our ECN platform.

Hi Lianna, I'm trying to optimize my income tax by incorporating offshore. I was thinking about Seychelles. Would FxPro accept an IBC incorporated in Seychelles as a client. If so, what kind of documents would I need in order to open an account. If Seychelles is no go, please advise on acceptable juristdictions. Thank you!

Hi Eurodavid. FxPro accepts corporate clients based upon certain parameters. In order to see which jurisdiction(s) are currently accepted, please visit our website registration form. Relevant information regarding which specific company document(s) are required is provided once a client has registered with FxPro. It should be noted that FxPro does not provide tax advice and/or recommendations concerning jurisdictions utilised for abovementioned purposes. If you have any further questions about a corporate account, you can send an email to our specialist department [email protected]

fxpro`s ctrader,
commission is the most expensive among the ctrader brokers.

Hi Entheos, thank you for your comment below.

While I cannot comment on other brokers commission charge, I think it is important to note that FxPro operates under Agency Model.

FxPro do charge a cTrader ECN commission of $65 per 1million USD traded. We do not add any mark up to the spreads, so the spreads you see are directly from the Liquidity providers and start from 0pips on majors.

Under our execution model, all trades executed with FxPro are sent directly to our Liquidity Providers. FxPro in turn earns its profit from the commission which we charge, meaning our interests are completely aligned with our clients, we want our clients to profit in order for them to be able to trade more in the long run.

I think its important to look at more than just the commission fees. Traders need to look at the overall deal their broker provides them. They need to take into account spread mark-up (which often isnt transparent and varies by instrument), swap rates (also varies by instrument), transfer fees (which exist with loads of brokers), minimum/maximum deposits, banking methods offered, platform, execution speed (including whether the broker is MM/STP/ECN), regulation and if I sat down and thought about it I would probably come up with other important points.

I have question for you.
major pairs are 5 digits.
But minor pairs are 4 digits.
usdjpy,eurjpy,gbpjpy are 3 digits.
But audjpy,nzdjpy,cadjpy,chfjpy are 2 digits
so minor pairs spreads are always 1.0,2.0,3.0,,,,,,,,,
Other ctrader brokers and spotware ctrader : all 5 digits and 3 digits.
Why do you rig the market?

Which broker is Fxpro: MM, ECN or STP account provider, or do you provide all the services?

hello, when will fxpro change your time offset on your platform?
i know it's +3 gmt right now soon you will change it to +2 gmt right?
i just want to know the exact arrangements.
Thanks!

Hi Sailorvt, we will change to GMT+2 on the last Sunday in October, and this will stay until March next year when it will return to GMT+2 (DST+1)

This is due to the Daylight Saving times when the clocks go forward.

Sutivserv, to answer your question, FxPro is not a Market Maker. We operate under full FX Agency Model and under this model we have two account types, the ECN/STP cTrader account which utilises ‘Market Execution’ with No Dealing Desk Execution, and the MT4 account type which utilises ‘Instant Execution’ with No Dealing Desk intervention.

You can read more about each account type in details via the following links from our website:

http://www.fxpro.co.uk/trading/platforms/mt4
http://www.fxpro.co.uk/trading/platforms/ecn

what is the commission cost on your ecn account?

Hi Konjan! Our commission is $65 per $1million USD traded. Therefore for 100k trade size, it would be 6.50 of the base currency of the pair, each way. The spreads on the ECN account start from 0 pips on Major pairs.

Why do you halt trading for 5 minutes at 10pm GMT to 10:05pm GMT every day on your ctrader platform? you are the only broker that does this.

How much is the minimum deposit in FxPro?

Thank you for your enquiry, currently we halt trading for 5 minutes each night at midnight (CY Time), as this is the time that the daily trading session finishes for our Liquidity Providers. At this time each night, our Liquidity Providers carry out their own daily reconciliations and withdraw their pricing for a very short period of time while this is carried out. Due to this temporary withdrawal of liquidity we see a widening of our spreads and a reduction in the liquidity available for our clients, in order to prevent our clients being affected by these abnormal market conditions we prefer to suspend trading until 00:05, when our Liquidity Providers have all returned pricing.

We will take your issue under consideration and if any decision is made to change our trading session we will be in touch directly.

Hello! We recommend to start with at least $500 on our MT4 account, and $1000 on our ECN account. However, you are able to deposit as little as 100.

Chart differences (USDCAD one minute chart. Alpari MT5 vs FxPro MT4)
Can someone explain how this can be possible? Look at the the 15:30 on the pics. Btw FxPro's outcome is compatible with other sources while Alpari's is different. It's not the first time I see this kind of thing on Alpari.

Thanks for your explanation on the MM and ECN/STP, it shows that your chart in both MT4 and cTrader will be showing exactly the same thing in all timeframe. Please confirm your view on this.