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FXPIG discussion

  • #1
  • First Post: May 20, 2011 11:40am May 20, 2011 11:40am
Hi,

Was just looking at fxintel and saw the spreads of FXPIG. They are regulated in New Zealand, don't have a clue how well the regulation is over there though.

Anyway, the spreads look great, even when you consider the fees that are exceeding those of interactive and mbt. They claim to have killed the dealing desk features from mt4 and so on. The name is a little strange in my opinion, but what's in a name....

As can be read on their blog, they only have launched very shortly offering mt4 and retail fx in the way they do now. I don't know if they were up and running an fx business in any other way prior to this. If so, is there anyone with customer experience? Besides that, is there anyone that is familiar with the New Zealand regulations?

Thanks,

pbb
  • #2
  • Sep 21, 2011 1:13am Sep 21, 2011 1:13am
Please, any experience with Fxpig?
  • #3
  • Nov 9, 2011 4:34am Nov 9, 2011 4:34am
nobody using them?
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  • #4
  • Nov 12, 2011 3:42pm Nov 12, 2011 3:42pm
great name,, ya gotta have a Kiwi sense of humour to get it I live here in NZ and will be opening an account with them on the recommendation from an associate involved with developing EAs. Their site is down at the moment,, probably cleaning the spark-plugs. Our prime minister is a former, very successful, currency trader (and probably still is,,).
  • #5
  • Edited 3:58pm Nov 20, 2011 1:25pm | Edited 3:58pm
I recently had a account with FXPig. There execution times were very good as well as their advertised spreads (not sure I always got them). One thing that I found annoying is there back office set up. When you transfer money it goes into what I think is a private pig account. From there you need to create and then transfer money to an fx account. It cost $40 USD to transfer money to the private pig account and then $12 to transfer it to the fx account. Seems over the top to me.

I decided to leave when I found out that the managing director was Kevin Mercko. I have not been able to confirm that it is the same person behind 'fxhoy.com'. There are certainly forums where FXPig and Kevin Mercko are mentioned together as well as Kevin Mercko and fxhoy.com.

There was a site up looking for investors in Premier Interchange Gateway or FXPig, but seems unavailable at the moment http://www.firstfloorfx.com/.

I have had no issues when withdrawing money and FXPig have always been quick to respond to any questions I have raised.

Maybe I'm to suspicious.
  • #6
  • Nov 20, 2011 4:16pm Nov 20, 2011 4:16pm
Quoting JonnoB
I recently had a account with FXPig. There execution times were very good as well as their advertised spreads (not sure I always got them). One thing that I found annoying is there back office set up. When you transfer money it goes into what I think is a private pig account. From there you need to create and then transfer money to an fx account. It cost $40 USD to transfer money to the private pig account and then $12 to transfer it to the fx account. Seems over the top to me.

I decided to leave when I found out that the managing director was...
I searched fxhoy.com and it brought up lots of stories about some managed account person loosing peoples money.

Think I'll give this (fxpig) a wide berth.

Thanks for the heads up.
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  • #7
  • Nov 20, 2011 4:29pm Nov 20, 2011 4:29pm
what an unfortunate name
FXGears.com
  • #8
  • Nov 21, 2011 9:09am Nov 21, 2011 9:09am
fx for pigs? very interesting.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #9
  • Nov 24, 2011 4:02pm Nov 24, 2011 4:02pm
FX Pig is not regulated in NZ, they are just enrolled in a financial dispute resolution scheme.
  • #10
  • May 31, 2012 4:27pm May 31, 2012 4:27pm
I must say that I now have a lot more respect for Kevin Mercko and FxPig. I used to have an account there, but when I found out about FxHOY I ran for the hills. To Kevin's credit he hasn't hidden from it, but addressed it honestly.
http://blog.fxpig.com/?p=151
  • #11
  • Oct 20, 2014 10:32pm Oct 20, 2014 10:32pm
Bump. Does anyone have recent dealings with FXPIG. The spreads look good and I am thinking of using them. Thanks.
  • #12
  • Oct 21, 2014 12:36am Oct 21, 2014 12:36am
Shit name for a broker!

Why would anyone take a broker serious with such a name.

Other examples

FXmars
Darwinex

I am sure that there are plenty more in the world of cheap arse MT4 start up brokers.
  • #13
  • Oct 21, 2014 9:49pm Oct 21, 2014 9:49pm
Agree that the name sucks. Any other reason for not liking them. Again the spreads are way better than the normal name brokers I am now using.
  • #14
  • Oct 21, 2014 10:52pm Oct 21, 2014 10:52pm
Quoting mdavem
Agree that the name sucks. Any other reason for not liking them. Again the spreads are way better than the normal name brokers I am now using.
Live Chat » LIVE Chat Support
Your Question: commission
Please wait, an operator will be with you shortly...........sure, 5 min waiting nothing happens...

Anyway, if the commission is round turn, they still OK, but not that outstanding. Of course depends what brokers you use currently, it is better then many out there with 3 pips fixed spread on EU.

The regulation is still unclear, and I would suspect this NZ resolution is not equal to a UK or US regulator by far, if something arise.
there is always, always another trade!!
  • #15
  • Dec 22, 2015 4:49pm Dec 22, 2015 4:49pm
Reviving an old thread. FxPig raised spreads to 10000 pips, read more about it here http://www.forexfactory.com/showthread.php?p=8658680
  • #16
  • Jan 17, 2016 9:00am Jan 17, 2016 9:00am
I heard that FXPIG is WL FXOpen, it really so?
  • #17
  • Apr 22, 2016 10:19am Apr 22, 2016 10:19am
Quoting ThePR0
I heard that FXPIG is WL FXOpen, it really so?
This is not true, we run our own server. FXOPen is a liquidity provider inside our MPA (formally ECN) feed, nothing more.
Kevin Murcko | CEO at FXPIG
  • #18
  • Apr 22, 2016 10:20am Apr 22, 2016 10:20am
Quoting chitak
Reviving an old thread. FxPig raised spreads to 10000 pips, read more about it here http://www.forexfactory.com/showthread.php?p=8658680

In the end the FDR ruled in our favor. If anyone would like further information they can consult the quoted link here at FF or get in touch with me personally via PM.
Kevin Murcko | CEO at FXPIG
  • #19
  • Apr 22, 2016 10:24am Apr 22, 2016 10:24am
Quoting mitch77
Shit name for a broker! Why would anyone take a broker serious with such a name. Other examples FXmars Darwinex I am sure that there are plenty more in the world of cheap arse MT4 start up brokers.

Appreciate the colorful commentary. On the name...

It's different that is for sure, but it pokes fun at the standard broker model in FX, and it's meant to be a bit controversial and ridiculous, which seems to be working.

The real story behind the name is interesting, if you are curious to hear it let me know and I will post it. On our new web site we use the PIG imagery very openly to poke fun at the industry and at ourselves.

In the end its a branding tool.
Kevin Murcko | CEO at FXPIG
  • #20
  • Apr 22, 2016 1:33pm Apr 22, 2016 1:33pm
Quoting Fxpig.com
{quote}The real story behind the name is interesting, if you are curious to hear it let me know and I will post it.
I am curious to know the history behind the name "FXPig", please tell us more
It's definitely an unusual name for a broker.
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