Dear Fxpro, If the spreads are the same on MT4 (float spread account) and MT5, then the bid ask price should be the same for the same symbol on this 2 platform right?
Dear Fxpro, If the spreads are the same on MT4 (float spread account) and MT5, then the bid ask price should be the same for the same symbol on this 2 platform right?
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Dear Rapphire,
Even though the spreads applied to MT4 and MT5 are the same, this may not necessarily mean that they have the exact same BID prices at all times. This is due to the setup of the liquidity pools for both MT4 and MT5. Although these are very similar, some differences do exist between the contributing LPs to the MT4 and MT5 liquidity pools. These differences may result in very slight price differentials from time to time, however please keep in mind that the pricing will always be in line with the market and both liquidity pools are made up entirely of only Tier 1 Investment Banks. We are currently in the process of integrating both platforms to the same liquidity pool and we expect this to be completed in the coming weeks.
i've recently compared mt5 spreads on usdjpy 1min charts with exporting the demo account charts history and running it through my python script (using pandas and matplotlib) this is what i get (you have to divide those spreads by 10):
7 April 2015, London. A strong proponent of transparency and fair trading services, FxPro remains committed to providing its clients with not only full trade reporting and support, but also with advanced order-matching and execution technologies that are continuously upgraded. As a trusted broker for a growing number of clients worldwide, FxPro is pleased to announce its slippage statistics for the month of March:
Positive = 36%
At Quote = 36%
Negative = 28%
As FX is an OTC (Over-the-Counter) product, clients may experience trades executed at a different price to the one displayed at the time. Operating as a Hybrid broker, using a non dealing agency model execution technology, FxPro allows its clients to access top-tier liquidity and to benefit from both its execution technology and its Negative Balance Protection guarantee, while also mitigating operational risk.
In conjunction with its slippage statistics, FxPro is also announcing the percentage of re-quotes that clients received during March:
Re-quotes = 4.32%
Positive = 2%
Negative = 2.32%
FxPro CEO, Charalambos Psimolophitis, commented on these encouraging statistics: At FxPro we have long been supporters of transparency and fairness in the Forex industry, and have worked hard to eradicate all conflicts of interest between broker and client. Having adopted a Hybrid Agency Model, we provide our clients with not only superior educational resources and trading tools but also with a guarantee of their funds safety. In an industry where it is taken for granted that slippage almost always goes against the client, we are pleased to demonstrate that this is not in fact the case. As the topic of slippage symmetry comes into greater focus, we encourage other brokers to be as forthcoming with their own execution statistics.
Genuinely curious what happened here: I get the spread gets really huge sometimes? But if I got stopped out there, how come there is no wick at my price? {image}{image}
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Dear Davidfu,
We can confirm the correct execution for both orders. The sell position was opened at the BID price and closed at the ASK price. Please bear in mind that the charts are showing the BID price.
Stop loss was triggered when ASK price reached the Stop Loss pre-set level.
I hope the clears everything.
Shall you have any other questions, please do not hesitate to contact us directly.
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Joined Jul 2012
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Status: www.fxpro.com
|171 Posts
Dear Members,
We are pleased to announce the following changes and additions:
New Instruments:
- MT4: Gold by grams and Ounces. Brent Oil Futures
- MT5: Brent Oil Futures
Trade Related Updates:
- Margin requirements for all Swiss Franc (CHF) pairs will be decreased to 1%. In other words you will be able to trade all CHF pairs with a leverage of up to 1:100.
- MT5 will be employing Dynamic Leverage. As a result of this change, MT5 account holders will be able to increase their account leverage up to 1:500 in line with the MT4 and cTrader.
Shall you have any questions, please do not hesitate to contact us.
Genuinely curious what happened here: I get the spread gets really huge sometimes? But if I got stopped out there, how come there is no wick at my price? {image}{image}
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In your first picture spread is almost 40 pips. Looks like you opened position just before news and paid the price....
{quote} Dear Davidfu, We can confirm the correct execution for both orders. The sell position was opened at the BID price and closed at the ASK price. Please bear in mind that the charts are showing the BID price. Stop loss was triggered when ASK price reached the Stop Loss pre-set level. I hope the clears everything. Shall you have any other questions, please do not hesitate to contact us directly. Kind regards, FxPro Team
{quote} In your first picture spread is almost 40 pips. Looks like you opened position just before news and paid the price....
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I can understand that one then, since it was a Friday. But this literally just happened to me on a Wednesday with no major news regarding USDCAD. FxProspreads went to 20 while Oanda remained at 2 pip spread the entire time.
Can someone explain this one to me? Is this normal? Does this happen with FXCM or other providers or do they have less issues with liquidity/would it help if I switched brokers?
I have had a similar issue yesterday (no news etc) on the EUR/USD. This is worrying to say the least. Stop loss hunting?? {image}
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I certainly hope not. I'm thinking that making a client-side bot that makes market orders if it hits your stop on a quote instead of storing S/L levels on their server might be a work-around on this. Thoughts anyone?
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Joined Jul 2012
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Status: www.fxpro.com
|171 Posts
Dear Members,
The spreads you see here are the actual prices coming from our liquidity providers. Some technologies provide a tool to filter the spreads to a certain maximum level.
FxPro is aware of it, and is working on a solution on our FX aggregator level, Quotix, to fix this issue.
Shall you have any other questions, or need any clarification, please do not hesitate to contact us.
Dear Members, The spreads you see here are the actual prices coming from our liquidity providers. Some technologies provide a tool to filter the spreads to a certain maximum level. FxPro is aware of it, and is working on a solution on our FX aggregator level, Quotix, to fix this issue. Shall you have any other questions, or need any clarification, please do not hesitate to contact us. Kind regards, FxPro Team
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Sorry I don't quite follow. I just want to ask some questions to clarify:
Are the positions getting stopped out with the widening volatility because of lack of liquidity at FxPro or an technical error/issue at FxPro?
Is this an issue that has only recently surfaced?
Is there likely to be continued high volatility and widening spreads under normal trading conditions?
Would the same position I created be stopped out like that on other brokers or is it an issue only with FxPro?
I'm literally afraid to set a stop-loss at this point because I feel like it's going to get me stopped out 50 pips away or something on no news under normal trading conditions.
And yeah thanks for the response FxPro. I'm not sure if at this stage I should be looking to switch brokers or if other brokers also have similar issues with liquidity.
I guess I won't trade until there is a fix. It makes it somewhat of a lottery. Until there is a fix I am guessing the MT4 platform would be a safer bet? EDIT: FX PRO - I appreciate your prompt responses.
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Like the Fixed Spread option where we trade against FxPro? Maybe I will try that.
Dear Members, The spreads you see here are the actual prices coming from our liquidity providers. Some technologies provide a tool to filter the spreads to a certain maximum level. FxPro is aware of it, and is working on a solution on our FX aggregator level, Quotix, to fix this issue. Shall you have any other questions, or need any clarification, please do not hesitate to contact us. Kind regards, FxPro Team
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Any news yet on this issue?
Never said I was Batman,all I'm saying is you'll never see us together.
{quote} {quote} I can understand that one then, since it was a Friday. But this literally just happened to me on a Wednesday with no major news regarding USDCAD. FxPro spreads went to 20 while Oanda remained at 2 pip spread the entire time. Can someone explain this one to me? Is this normal? Does this happen with FXCM or other providers or do they have less issues with liquidity/would it help if I switched brokers? {image}
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I have also seen USDCAD's spread widen to 22 pips. It was during CAD news. But the wide spread last for just one tick, if i remember correctly.
But guys, if you are worried about wide spread, try Fxpro fixed spread. There is no problem on this fixed spread so far. (But i have not tested it during FOMC, NFP etc)
{quote} Sorry I don't quite follow. I just want to ask some questions to clarify: Are the positions getting stopped out with the widening volatility because of lack of liquidity at FxPro or an technical error/issue at FxPro?
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Dear davidfu,
Firstly, we would like to assure clients that If any trades are executed due to FxPro misquoting or errors these are promptly corrected in favour of the customer. In relation to the normal execution of our clients trades, all trades executed by FxPro through the cTrader platform are filled at prevailing market prices. FxPro receives its pricing from a number of the most respected and reputable top tier financial institutions, the aggregation of this pricing allows us to offer our clients access to a deep and vast pool of liquidity. FxPro strives to offer our traders some of the most competitive spreads in the market but it is important for our traders to keep in mind that even under such efforts undertaken from our side to provide the best trading experience possible, there may be certain times where we witness a thinning of liquidity and a sudden widening of the spread. These events are rare and are always short lived as LPs may only withdraw or widen their pricing for a number of milliseconds, however this momentary pricing still impacts the spreads in the market. We would very much like to clarify that this is not a technical error/issue on our side, this is simply FxPro providing our clients with the true market pricing at this time.
Our previous comment sought to maintain our transparency as a Broker and to inform clients that FxPro does not currently operate a spread constraint on our ECN platform that many other Brokers utilize. The spreads which clients receive are those which exist in the actual market, however due to recent market events and increased volatility we are investigating the possibility of introducing such a constraint. The introduction of such a constraint will result in FxPro incurring a loss on the differential between the constrained price and the market price, however we believe this is better than our clients receiving such widened spreads.
{quote}Would the same position I created be stopped out like that on other brokers or is it an issue only with FxPro?
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As a matter of principle, FxPro does not comment on the actions of other FX Brokers. As always FxPro will maintain a high level of transparency with our clients and in the event that you have any issues or queries surrounding your trades our Dealing Department ([color=Black][email protected][/color]) will be more than happy to investigate and provide you with a prompt response.
As clarified above, this was not an issue but rather a widening of the market spread at this time. The spreads which clients receive are those which exist in the actual market, however due to recent market events and increased volatility we are looking into the possibility of adding this additional feature.
If you have any other questions, please do not hesitate to contact us.
1) Is there any problem with fxpro for Deposit funds and Withdraw?
2) Is fxpro market maker or ecn broker ?
3)why fxpro have 2 register numbers with fca one of them 477418 and 509956 ?and when i register my account under fca how i know which one covering my account
Thank you in advance
