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FXPIG broker

  • #1
  • First Post: Apr 20, 2015 10:58am Apr 20, 2015 10:58am
This new comer looks very interesting. Is there someone using this broker ? Any comments or feedback's ?
They are not regulated ... ( not sure that's a big deal ) . However their spreads are really good and it seems they do care
about their customers ( see forexpeacearmy 's broker reviews ).
  • #2
  • Apr 20, 2015 11:10am Apr 20, 2015 11:10am
Quoting Philforex
They are not regulated ... ( not sure that's a big deal ) .
That's the very first thing you should look at ... Stay away.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Apr 20, 2015 2:14pm Apr 20, 2015 2:14pm
Quoting Philforex
This new comer looks very interesting. Is there someone using this broker ? Any comments or feedback's ? They are not regulated ... ( not sure that's a big deal ) . However their spreads are really good and it seems they do care about their customers ( see forexpeacearmy 's broker reviews ).
Ask yourself: Would you deposit money in a bank named 'bankPIG'??! - By the way, spread is not everything.

And about forexpeacearmy; I would not call their reviews trustworthy. Alot of bucketshop broker get 5 star reviews and fxcm, duka, oanda gets only bad/medium reviews!
MY SITTING, NEVER MY THINKING!
  • #4
  • Apr 20, 2015 7:31pm Apr 20, 2015 7:31pm
FXPIG:
FINANCIAL DISPUTE RESOLUTION SCHEME MEMBER: FM0786
MAXIMUM COMPENSATION PER CLAIM: 200,000 NZD$
  • #5
  • Apr 21, 2015 1:45am Apr 21, 2015 1:45am
It's ok. Because because this kind of customers with $100 or $200 accounts don't need to worry about any regulations.
  • #6
  • Apr 21, 2015 3:52am Apr 21, 2015 3:52am
I do understand your warnings regarding regulation and depending of the account amount it may become a "must have" criteria.
However many traders have small accounts . What's the point to have a regulated broker then ?
Being regulated costs a lot of money ( + 5 Millions US ) and doesn't prove you are honnest either..
Not clear to me where the truth stands.
I'm alway suspicious regarding "well established" Brokers... I think funds security doesn't exist .
Am I too naive ? am I missing something ?
  • #7
  • Apr 21, 2015 3:57am Apr 21, 2015 3:57am
Quoting Philforex
What's the point to have a regulated broker then ?
If you are a trader, you certainly know the point to have a StopLoss ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #8
  • Apr 21, 2015 4:48am Apr 21, 2015 4:48am
Quoting Philforex
I do understand your warnings regarding regulation and depending of the account amount it may become a "must have" criteria. However many traders have small accounts . What's the point to have a regulated broker then ? Being regulated costs a lot of money ( + 5 Millions US ) and doesn't prove you are honnest either.. Not clear to me where the truth stands. I'm alway suspicious regarding "well established" Brokers... I think funds security doesn't exist . Am I too naive ? am I missing something ?
When a broker is regulated Means that you have somewhere to go, IF there is a problem. And i am not refering to the customer support

Yes its true a regulation not comming cheap, but there is a reason a broker choose to be regulated = They want to be taken serious.

And the last thing: DOES THE BROKER NAME (FXPIG!!!) DONT SOUND SUSPICIOUS TO YOU?!?!?!?!?!?!?!!?!?!?!?!?!!?!!?!?
MY SITTING, NEVER MY THINKING!
  • #9
  • Apr 21, 2015 4:57am Apr 21, 2015 4:57am
If you want to trade a junior account (100-1000usd) Take a look at these brokers.

-Icmarkets
-DMMfx
-Oanda
-Pepperstone
-Tickmill
MY SITTING, NEVER MY THINKING!
  • #10
  • Apr 21, 2015 5:01am Apr 21, 2015 5:01am
Quoting merrygold
If you want to trade a junior account (100-1000usd) Take a look at these brokers. -Icmarkets -DMMfx -Oanda -Pepperstone -Tickmill
Even Dukascopy (Europe) start at $100 ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Apr 21, 2015 5:12am Apr 21, 2015 5:12am
Quoting FerruFx
{quote} If you are a trader, you certainly know the point to have a StopLoss ...

Yes I do. Not sure I understand the connection between stop loss and non-regulated broker..
  • #12
  • Apr 21, 2015 5:16am Apr 21, 2015 5:16am
Quoting merrygold
{quote} When a broker is regulated Means that you have somewhere to go, IF there is a problem. And i am not refering to the customer support Yes its true a regulation not comming cheap, but there is a reason a broker choose to be regulated = They want to be taken serious. And the last thing: DOES THE BROKER NAME (FXPIG!!!) DONT SOUND SUSPICIOUS TO YOU?!?!?!?!?!?!?!!?!?!?!?!?!!?!!?!?

I don't care the name they have. It means nothing . They could call them even "Hell in the ass " it's ok as long their platform is stable , great spreads and no manipulation .
  • #13
  • Apr 21, 2015 5:39am Apr 21, 2015 5:39am
Quoting Philforex
{quote} Yes I do. Not sure I understand the connection between stop loss and non-regulated broker..
Giving your money to a non regulated broker is like trading with no StopLoss ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #14
  • Apr 21, 2015 5:40am Apr 21, 2015 5:40am
It depends WHERE it is regulated. After reading the Alpari UK story, it doesn't seem to provide such a warranty to be regulated in the EU...
  • #15
  • Apr 21, 2015 7:00am Apr 21, 2015 7:00am
Quoting HeyYou
It depends WHERE it is regulated. After reading the Alpari UK story, it doesn't seem to provide such a warranty to be regulated in the EU...
Yep..I'm curious to know how this Alpari matter will end.
The quest for warranty is ( my opinion ) a vicious cycle where we always consider the same "established " brokers again and again.
The broker names I saw in the previous given list doesn't look sexy. For example , IC markets has a good spread but their platform is unstable and freezes often . Noway for a large volume scalper to play with them.
I believe the "well established" regulated brokere are not clean and manipulate us all the time . A sort of mafia .
  • #16
  • Apr 21, 2015 7:11am Apr 21, 2015 7:11am
Quoting Philforex
{quote} I don't care the name they have. It means nothing . They could call them even "Hell in the ass " it's ok as long their platform is stable , great spreads and no manipulation .

How do you think a broker finance good spread and maybe bonuses?, Stopfishing or other tricks are well known...or you ever heard about positive slippage? Statistically, it comes to more positive slippage, then to negative slippage for instance... a good broker pay you also the positive slippage back and the other just charge you the negative slippage

In my opinion just a very transparent broker desires trust, like Dukascopy. I just work with an DMA/STP Broker (JFD Brokers)...Why... because they are not in conflict between them business model and the customers, they get just paid on commissions and i pay just core spreads. Every time switch your brain on.... Just Sunday i was in a business meeting with a broker for a White Label, not that i was interested on a White Label, but interested, how exactly works them business model, specially for Dealing Desk Broker
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  • #17
  • Apr 21, 2015 7:21am Apr 21, 2015 7:21am
Quoting Philforex
{quote} The broker names I saw in the previous given list doesn't look sexy. For example , IC markets has a good spread but their platform is unstable and freezes often . Noway for a large volume scalper to play with them. I believe the "well established" regulated brokere are not clean and manipulate us all the time . A sort of mafia .
Yup, all the regulated brokers are part of a mafia. - To keep your Money safe, only use unregulated brokers
MY SITTING, NEVER MY THINKING!
  • #18
  • Apr 21, 2015 7:34am Apr 21, 2015 7:34am
Quoting merrygold
{quote} Yup, all the regulated brokers are part of a mafia. - To keep your Money safe, only use unregulated brokers
  • #19
  • Apr 21, 2015 7:58am Apr 21, 2015 7:58am
Quoting merrygold
{quote} Yup, all the regulated brokers are part of a mafia. - To keep your Money safe, only use unregulated brokers


That's exactly the point here ... No sense at all.

Phil, don't get me wrong. I have nothing against you. That's just that your question is a bit weird from a trader ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #20
  • Apr 21, 2015 8:54am Apr 21, 2015 8:54am
Quoting FerruFx
{quote} That's exactly the point here ... No sense at all. Phil, don't get me wrong. I have nothing against you. That's just that your question is a bit weird from a trader ...

Hey guys don't get me wrong. I have nothing about your comments ! You are free to say what you want .


My gut feeling tells me some of you are commercial members. It means , you will always reject new brokers.

Nobody gave me , yet , a valid argument why/ If FXPIG is scam ...
Instead to make jokes or teach us how to become a better traders please answer to the thread or leave it !! Thanks.
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