FxPig raises spread to 10000 pips on USDZAR | Page 2 | Forex Factory

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FxPig raises spread to 10000 pips on USDZAR

  • #21
  • Dec 23, 2015 7:27am Dec 23, 2015 7:27am
The clue is in the name
  • #22
  • Dec 23, 2015 7:43am Dec 23, 2015 7:43am
Quoting Mingary
The clue is in the name


withdraw all money from such pig and hot brokers...thieves always give away clues.
We are proud to be most consistent signal provider in entire industry.
  • #23
  • Dec 23, 2015 9:43am Dec 23, 2015 9:43am
FXPIG is a seriou scam, they took over 30k from me, talk to them on skype, its christmass and they need money for holiday lol
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #24
  • Dec 23, 2015 10:28am Dec 23, 2015 10:28am
Quoting Mingary
The clue is in the name
There is no help of name, because most of them are ...
  • #25
  • Dec 23, 2015 10:30am Dec 23, 2015 10:30am
I see the Pig is regulated in New Zealand.

My advice. Do not trade with any broker which is not UK regulated.

Many brokers are registered in New Zealand. They go there for a reason. New Zealand regulation do not match FCA regulation in the UK.


G
Never Ever Give Up!
  • #26
  • Dec 23, 2015 10:32am Dec 23, 2015 10:32am
This guy has over 500k with fxpig http://www.forexfactory.com/realreason#acct.24
  • #27
  • Dec 23, 2015 10:36am Dec 23, 2015 10:36am
Quoting Soros
FXPIG is a seriou scam, they took over 30k from me, talk to them on skype, its christmass and they need money for holiday lol
How did they take 30k from you? Give us the details. Maybe we can join forces and fight them together.
  • #28
  • Dec 23, 2015 10:41am Dec 23, 2015 10:41am
Quoting Cobra
I see the Pig is regulated in New Zealand. My advice. Do not trade with any broker which is not UK regulated. Many brokers are registered in New Zealand. They go there for a reason. New Zealand regulation do not match FCA regulation in the UK. G
Good finds. I've asked him to join usbhere and give his opinion on FxPig. Hopefully he is still active
  • #29
  • Dec 23, 2015 10:53am Dec 23, 2015 10:53am
Quoting PoundTrader
This guy has over 500k with fxpig http://www.forexfactory.com/realreason#acct.24
that guy is doing some serious stuff
We are proud to be most consistent signal provider in entire industry.
  • #30
  • Dec 23, 2015 12:31pm Dec 23, 2015 12:31pm
I think Brokers do this sort of thing because most clients do not do anything about it and it is worth it financially for the Broker to cheat their clients in this way.
This is an extreme case though.

I used to like trading the weekend gap with Pepperstone but now the spread widens so much from opening for at least an hour. USD/CAD, usually 0.5 spread opened at 16.8 and the spread did not normalise for about 2 hours.

The spread is widened so much even on very minor news announcements too like today. I did not lose anything because of it but it did not open a limit trade I had set which would have hit the t/p.

I always get the response that the spreads are tight because they use many liquidity providers but spreads did not used to be so high on market open or around news,
Both of which I want to trade. That choice has been taken away from me.

It is difficult enough to stay profitable but these things make it even harder.
Good luck.
  • #31
  • Dec 23, 2015 12:32pm Dec 23, 2015 12:32pm
Sorry for you loss. But you should find a better broker, reputable, that is well regulated. Do some research, and be sure to look up the negative reviews. There are many brokers that are right out scams, where you deposit and cant withdraw. They lure people with good spreads, bonuses, only so you would open an account.
Also, trading exotic pairs is in my opinion never a good idea as their liquidity is lacking, particularly if you are trading big lots.
Best, Josh
  • #32
  • Dec 23, 2015 12:46pm Dec 23, 2015 12:46pm
Quoting Pipsalon
Are they forcing you to pay the negative balance?
Besides, fxpig provides trade receipts. Have you asked for them?
  • #33
  • Dec 23, 2015 1:29pm Dec 23, 2015 1:29pm
Quoting Verd
{quote} Besides, fxpig provides trade receipts. Have you asked for them?
Trade receipts? Haven't heard that before? What's the benefit of asking for it
  • #34
  • Dec 23, 2015 1:32pm Dec 23, 2015 1:32pm
Quoting normtold
I think Brokers do this sort of thing because most clients do not do anything about it and it is worth it financially for the Broker to cheat their clients in this way. This is an extreme case though. I used to like trading the weekend gap with Pepperstone but now the spread widens so much from opening for at least an hour. USD/CAD, usually 0.5 spread opened at 16.8 and the spread did not normalise for about 2 hours. The spread is widened so much even on very minor news announcements too like today. I did not lose anything because of it but it did...
It's all a marketing trick, there's nothing better, if hey give tight spreads for the quiet times they'll make you pay 10 fold when they hit your stop loss with wide spreads, and a trader has little recourse. It happens to me all the time, I don't fight it if it is around 1k or less but for 11k it's worth a fight.
  • #35
  • Dec 23, 2015 1:42pm Dec 23, 2015 1:42pm
So got an email from FxPig that I am not being truthful with my post that the spread was 10000 pips, they said the spread was 3-4k pips the rest was slippage.

I'm sorry FxPig I didn't mean to mislead people lol
  • #36
  • Dec 23, 2015 6:18pm Dec 23, 2015 6:18pm
If u think they have scammed u then go where u can get something done


Dispute resolution scheme
Name of scheme:
Financial Dispute Resolution Scheme
Level 9, 109 Featherston Street, Wellington 6011
http://www.fdr.org.nz
  • #37
  • Dec 23, 2015 6:36pm Dec 23, 2015 6:36pm
Quoting xdj3richo
If u think they have scammed u then go where u can get something done Dispute resolution scheme Name of scheme: Financial Dispute Resolution Scheme Level 9, 109 Featherston Street, Wellington 6011 http://www.fdr.org.nz
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I filed a complaint there already, have to submit evidence and they'll decide who is right. You think I have any chance of success there? Funny thing their rules state they can't enforce any ruling in my favour, so if the decide I'm right its up to the broker to pay or not, or I have to sue them in New Zealand. Why would any legitimate regulator not be able to enforce?! Oh well, we'll see what happens
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I was more interested in finding ohers with similar experience with FxPig so we can brainstorm together. So far no luck on that front
  • #38
  • Dec 23, 2015 8:35pm Dec 23, 2015 8:35pm
i do think u have a chance have u posted in FPA also ???
  • #39
  • Dec 23, 2015 9:12pm Dec 23, 2015 9:12pm
Quoting xdj3richo
i do think u have a chance have u posted in FPA also ???
Yes starting the process at the FPA too. Will see what comes out. Will be preparing my case with the NZ guys for the next week or so, I need to show everything I have and organize it well.
  • #40
  • Dec 24, 2015 10:48am Dec 24, 2015 10:48am
Hi, I wanted to chime in. I have been an FXPIG client now for over 3 years and my uncle is in their DOOR managed account with a significant amount of money. I can honestly say I have NEVER been ripped off by them or have had any broker manipulation happen to my account. It was one of the reasons I came to them because I had already been screwed by others and lost 5k at another scam broker (you can still see my FPA complaint from back then).
My uncle has withdrawn over 100k lump sum with no issues and I have withdrawn over the years with no problems either.
Have I had slippage and some trades go bad - yes but few and far in between and it was due to the LP and NOT the broker and I have seen the emails between the two with FXPIG trying to help resolve the issue.
In an illiquid pair during unexpected high impact news- S*IT HAPPENS. This is forex,

Merry Christmas to all!!!
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