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Experiences with FxPro

  • #461
  • Feb 12, 2015 4:44am Feb 12, 2015 4:44am
Quoting FxPro Global
{quote} Dear Wantsomepips, The you for your comment. This is true for most of the Market Makers, if they internalise positions. With FxPro, however, it is different. The company staying loyal to its' commitments, and honouring the Negative Balance Protection Policy, basically took the hit on itself, and did not chase the clients to repay the Negative Balances. Kind regards, FxPro Team
Do u mean that yr accountee is just trading against yr company ? I mean that what the trader loses just comes into the pocket of yr company.

Hop I mis-understand.

Please kindly clarify.

Many thx.
  • #462
  • Feb 12, 2015 5:29am Feb 12, 2015 5:29am
Quoting vinshunlee
{quote} Do u mean that yr accountee is just trading against yr company ? I mean that what the trader loses just comes into the pocket of yr company. Hop I mis-understand. Please kindly clarify. Many thx.
Dear Vinshunlee,

You have misunderstood indeed. The trades were passed on to the Liquidity Providers. You can check the full trading cycle here

Kind regards,

FxPro Team
Trading CFDs involves significant risk of loss.
  • #463
  • Feb 12, 2015 5:34am Feb 12, 2015 5:34am
Quoting FxPro Global
{quote} Dear Vinshunlee, You have misunderstood indeed. The trades were passed on to the Liquidity Providers. You can check the full trading cycle here Kind regards, FxPro Team
sorry for my mis-understanding.

thx for clarification.
  • #464
  • Feb 12, 2015 5:57am Feb 12, 2015 5:57am
I've heard that FxPro will allow MT5 in the near future, its that true?
  • #465
  • Feb 12, 2015 6:57am Feb 12, 2015 6:57am
Quoting marcjfx
I've heard that FxPro will allow MT5 in the near future, its that true?
Dear Marcjfx,

Yes, we are indeed launching the MT5 very soon. I will update you on the progress, but it is due to be launched sometime within the next week, or the week after.

Kind regards,

FxPro Team
Trading CFDs involves significant risk of loss.
  • #466
  • Feb 12, 2015 9:38am Feb 12, 2015 9:38am
Quoting FxPro Global
{quote} Dear Wantsomepips, The you for your comment. This is true for most of the Market Makers, if they internalise positions. With FxPro, however, it is different. The company staying loyal to its' commitments, and honouring the Negative Balance Protection Policy, basically took the hit on itself, and did not chase the clients to repay the Negative Balances. Kind regards, FxPro Team

The point in that sentence is that FXpro is trading against their clients and that is why FXpro does not suffer at all if there are negative balances. And they advertise it to suckers like me that it is a good thing.

So basically fellow traders have to chose between market maker broker (which I think is FXpro) and will be forgiven negative balances or to trade with an ECN broker who would take a loss when client has negative balance and that balance might be required to pay back.

I would like to take an opportunity and ask FX Global:
Does FXpro take any position against their clients in any way? You can call it hedging, offsetting risk or whatever you want. Does FXpro simply passes client positions to true Liquidity provider who has an access to "interbank" market (any of major banks)?

Please give us simple YES or NO answer.

So far FX Global has been very vague on questions and not really answering them.

And as for MT5 I was told in FXpro chat on 1/02 that it will be running within 2 weeks, so on Monday we should have it!!! Yepyy
  • #467
  • Feb 12, 2015 9:50am Feb 12, 2015 9:50am
Quoting wantsomepips
{quote} The point in that sentence is that FXpro is trading against their clients and that is why FXpro does not suffer at all if there are negative balances. And they advertise it to suckers like me that it is a good thing. So basically fellow traders have to chose between market maker broker (which I think is FXpro) and will be forgiven negative balances or to trade with an ECN broker who would take a loss when client has negative balance and that balance might be required to pay back. I would like to take an opportunity and ask FX Global: Does...
Dear Wantsomepips,

I thought I have been very clear on my answers. All of the trades have been passed on to the liquidity providers, i.e. banks. Therefore, the company has taken a hit on the SNB movement, and decided to upkeep it's promise and take the blow form the negative balances on itself, thus honouring the NBP policy.

Let me know if you need any other clarifications.

Kind regards,

FxPro Team
Trading CFDs involves significant risk of loss.
  • #468
  • Feb 12, 2015 10:01am Feb 12, 2015 10:01am
Quoting FxPro Global
{quote} Dear Wantsomepips, I thought I have been very clear on my answers. All of the trades have been passed on to the liquidity providers, i.e. banks. Therefore, the company has taken a hit on the SNB movement, and decided to upkeep it's promise and take the blow form the negative balances on itself, thus honouring the NBP policy. Let me know if you need any other clarifications. Kind regards, FxPro Team


Hi again.
Please do not think that I am interrogating you in any way, I simply would like to know answer to his question with simple yes or no:

Does FXpro take any position against their clients in any way at present time? You can call it hedging, offsetting risk or whatever you want.

Simple yes or no is what I am looking for.
  • #469
  • Feb 13, 2015 3:21am Feb 13, 2015 3:21am
anyone is having any problem with fxpro website, cant login to the website
  • #470
  • Feb 13, 2015 5:03am Feb 13, 2015 5:03am
Quoting magicpips
anyone is having any problem with fxpro website, cant login to the website
Dear Magicpips,

It is all fine on our side.

Kind regards,

FxPro Team
Trading CFDs involves significant risk of loss.
  • #471
  • Feb 13, 2015 5:27am Feb 13, 2015 5:27am
Quoting FxPro Global
{quote} Dear Magicpips, It is all fine on our side. Kind regards, FxPro Team
it is working fine now, many thanks
  • #472
  • Feb 13, 2015 6:24am Feb 13, 2015 6:24am
Quoting wantsomepips
{quote} Hi again. Please do not think that I am interrogating you in any way, I simply would like to know answer to his question with simple yes or no: Does FXpro take any position against their clients in any way at present time? You can call it hedging, offsetting risk or whatever you want. Simple yes or no is what I am looking for.
Dear wantsomepips,

The answer to your question is emphatically no, as far as FX is concerned we do not take any positions against our clients.

However, in the wake of the recent SNB move we reserve the right to internalise some order flow in future as a safeguard against illiquidity and poor fills from our LPs during extreme market conditions.

This should not be construed as trading against our clients. For example, in conditions such as those experienced on Jan 15 we would be able to fill our clients’ stops at better prices than the ones available in the market, thus averting a situation where stops are not executed and account balances move into negative territory. This is in stark contrast to market makers who were able to fill their clients’ stop orders but did not and passed on tremendous amounts of negative slippage to them.

Please accept my apologies if you felt my earlier answers were vague, but as you understand these situations are seldom black and white.

What I would like to stress that we remain a no dealing desk intervention broker and that our interests are completely aligned with those of our clients. This is not under debate and not subject to change.

Kind Regards,

FxPro Team
Trading CFDs involves significant risk of loss.
  • #473
  • Feb 13, 2015 5:21pm Feb 13, 2015 5:21pm
Thank you for the answer.

Unfortunately, there is no way for me to check what you are saying and I will have to take your word for it.

Thanks again.
  • #474
  • Feb 19, 2015 2:40am Feb 19, 2015 2:40am
Dear Members,

We are happy to announce today the launch of our new FxPro Quant Portal.

Please see the Press Release below:


FxPro Quant - Revolutionising Automated Trading

19th February 2015, London. Employing an easy to use drag and drop interface, FxPros revolutionary Quant Strategy Builder allows its users to create their own auto-trading strategies by visualising how technical indicators, logical functions and mathematical operators interact with each other. In this way complex trading algorithms can be created without the use of a coding language. The companys all new version includes a number of significant improvements, as well as being made freely available to all, underlining that FxPro is always on the side of their clients.

Quant has been very well received by traders and this new version promises to deliver even more functionality. Aside from an updated design, we have added tabs that allow you to work on more than one strategy at a time, search and zoom functions, link colours, and now your Quant strategies can be saved as both MT4 EAs and cTrader robots. All of these features are freely available to all traders from our new FxPro Quant portal, whether they have an account with FxPro or not. We are so confident in the quality of our trading tools that we are happy to make them available to everyone.
Charalambos Psimolophitis, FxPro CEO.

The newest version of FxPros web-based Quant strategy builder is now live and available at http://quant.fxpro.co.uk.
Trading CFDs involves significant risk of loss.
  • #475
  • Mar 2, 2015 3:45am Mar 2, 2015 3:45am
FxPro Encourages Greater Transparency in the FX Industry, as a Result Increasing Average Daily Trades by 104% YoY

02 March 2015, London. In a bid to encourage greater transparency within the retail FX industry FxPro is pleased to announce its latest slippage statistics for the month of February:

  1. Positive = 53.8%
  2. At Quote = 29.8%
  3. Negative = 16.4%

This is an important statistic for retail clients as it shows what proportion of trades were executed either in their favour or against them. The recent increase in volatility has made slippage all the more important so the greater transparency in respect to these statistics, the better informed a client can be about how fairly they are being treated by their broker. Spot FX is an OTC (Over the Counter) product as opposed to being traded on exchange, therefore clients can experience trades being executed at a different price to the one displayed at the time, which is referred to as slippage.

At FxPro we understand the importance of putting the customer first, which is why we want to be at the forefront of promoting fairness and transparency. Through our automated No Dealing Desk trading environment, backed by a Negative Balance Protection policy, we are proud to be a trusted broker for many clients globally. We encourage all of our peers to do the same.Psimolophitis, FxPro CEO.

FxPro has also seen a significant uplift in trading volumes in February and is announcing the following statistics in conjunction with their slippage numbers:

Average No. Lots Traded Daily

  1. Increase 106% YoY
  2. Increase 11% MoM

Average No. Trades Daily

  1. Increase 104% YoY
  2. Increase 12% MoM

Average Volume Daily

  1. Increase 87% YoY
  2. Increase 13% MoM

(YoY = Feb 2014Feb 2015)
(MoM = Jan 2015Feb 2015)

Trading CFDs involves significant risk of loss.
  • #476
  • Mar 6, 2015 8:06am Mar 6, 2015 8:06am
Actual Trading with FxPro
My Wildest Ride to NFP,,, thanks for Teamwork and Collabortation
Attached Image (click to enlarge)
Click to Enlarge Name: NFP Ride 2.gif Size: 49 KB
Depict history, predict future, and the area in between ...
  • #477
  • Mar 7, 2015 4:24am Mar 7, 2015 4:24am
Account randomly got disabled, not sure why. Apparently happened to someone here as well: http://www.forexfactory.com/showthread.php?p=8117361

Will update.
  • #478
  • Mar 9, 2015 1:01am Mar 9, 2015 1:01am
Quoting davidfu
Account randomly got disabled, not sure why. Apparently happened to someone here as well: http://www.forexfactory.com/showthread.php?p=8117361 Will update.
Dear Davidfu,

Can you please PM me the details, and I will check that for you?

Kind regards,

FxPro Team
Trading CFDs involves significant risk of loss.
  • #479
  • Mar 9, 2015 3:46am Mar 9, 2015 3:46am
Quoting FxPro Global
{quote} Dear wantsomepips, The answer to your question is emphatically no, as far as FX is concerned we do not take any positions against our clients. However, in the wake of the recent SNB move we reserve the right to internalise some order flow in future as a safeguard against illiquidity and poor fills from our LPs during extreme market conditions. This should not be construed as trading against our clients. For example, in conditions such as those experienced on Jan 15 we would be able to fill our clients stops at better prices than the ones...

Hi fx pro ,I ask this because ive just opened an account with you, not sure I understand this statement regarding you reserving the right to close positions in extreme market conditions , how are you able to do this as the positions have been passed onto your liquidity provider

cheers
Never said I was Batman,all I'm saying is you'll never see us together.
  • #480
  • Mar 9, 2015 12:58pm Mar 9, 2015 12:58pm
Quoting FxPro Global
{quote} Dear Marcjfx, Yes, we are indeed launching the MT5 very soon. I will update you on the progress, but it is due to be launched sometime within the next week, or the week after. Kind regards, FxPro Team
Hi
When the MT5 will be launched?
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