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Experiences with FxPro

  • #921
  • Edited May 1, 2016 5:05am Apr 30, 2016 2:42pm | Edited May 1, 2016 5:05am
Quoting Lacunoide
{quote} They are not a true ECN, the simplest way to check it is the swap. If the swap is mostly negative on both side, they are not sending the order to the market. They are using QUOTIX (quotix.com) as price agregator.. If you go on their side they say the use B/C booking... {image} {image} {image}
I know what is A/B book but... what is C book?
PS: I saw it...
Try don't lose pants never...
  • #922
  • May 1, 2016 3:18am May 1, 2016 3:18am
Quoting braintheboss
{quote} I know what is A/B book but... what is C book? PS: I saw it...
Infos took from various sources about C-book:

Partially hedging traders whose P/Ls are highly volatile
Reversing individual trades 1:1 or with a coefficient

C-Book: This is where a broker realises that certain flows have value as B-Book business but does not have the capital or regulation to run a B-Book on it. The more advanced liquidity providers are realizing that there is more value in capturing all of the flow from the brokers and then sharing more of the revenue back to the broker than there is in competing with many other liquidity providers in an A-Book model. This leads to much closer relationships between broker and liquidity provider and more exclusive revenue sharing relations starting all the time

So substancially a sort of Hybrid and another legal way to squeeze money from customers:
At the end: if you are a loser u are B-booked (if regulation and capitalization of the broker allow this)
If u are a winner u are a-booked, once u are marked as winner by their software and so u will match your real enemy: Lps, which are marke makers (so at the end we have always to deal with a MM which loses if we win: the difference is that most LPs are much bigger than retail brokers and so should not bother of your "retail volumes" but if the LP book is hit by more ticket at the same level his software will react to reduce exposure. Do not forget that Lps can exercise the "last look"they hold your trade and if this goes in loss they confirm the trade, if it goes in gain they can reject it, and so the Broker sofware have to find another executable price and so u are executed with a much worse price and what u will call a huge slippage

C-book: you have the characteristics to be b-booked (u are a loser) but b-book you is too risky or is not possible for regulations of the broker or limted capitalization
  • #923
  • May 1, 2016 5:07am May 1, 2016 5:07am
Quoting corre71
{quote} Infos took from various sources about C-book: Partially hedging traders whose P/Ls are highly volatile Reversing individual trades 1:1 or with a coefficient C-Book: This is where a broker realises that certain flows have value as B-Book business but does not have the capital or regulation to run a B-Book on it. The more advanced liquidity providers are realizing that there is more value in capturing all of the flow from the brokers and then sharing more of the revenue back to the broker than there is in competing with many other liquidity...
Thanks for your explanation. I feel trader is like hero. He have fight against other big Boss after win the last fight... The trader life is very hard
Try don't lose pants never...
  • #924
  • May 1, 2016 5:20am May 1, 2016 5:20am
Quoting braintheboss
{quote} Thanks for your explanation. I feel trader is like hero. He have fight against other big Boss after win the last fight... The trader life is very hard
This makes trading interesting: to be succesfull in trading (specially in automated trading) is something really hard, which involves skills, confidence, knowledge in may fields, psycology. U need to have an edge over other competitors
  • #925
  • May 1, 2016 2:45pm May 1, 2016 2:45pm
Quoting Lacunoide
{quote} They are not a true ECN, the simplest way to check it is the swap. If the swap is mostly negative on both side, they are not sending the order to the market. They are using QUOTIX (quotix.com) as price agregator.. If you go on their side they say the use B/C booking... {image} {image} {image}
Thanks Lacunoide, that's a very clear explanation.

FxPro doesn't seem to want to challenge that explanation (given this is "their" thread).
  • #926
  • May 1, 2016 6:04pm May 1, 2016 6:04pm
Let me tell you about fxpro, i have 2 years experience with them. It wasn't good. I stopped trading with them for 6 months or more, not sure. Now i have the time to put up a review.

I open fxpro cos of diversity, i used my paypal to fund.

Trading was all going good for a year or so.. Then the mobile MT4 app started to lagg big time. Not for any other brokers but just fxpro. I suspect it is the data feed.

I got EXTREMELY PISSED when I feedback falls on deaf ears.
I would like to kindly point out that if you treat your customers as if they are stupid, you'll get them doubly PISSED.
The live chat ask me dumb questions like what is my phone model etc. Questions that would exponentially PISSED me off further.

NEVER EVER TREAT YOUR CUSTOMERS AS IF THEY ARE DUMB. Well, not all of them, at least.

Anyway, I've taken all my money and transfered to other broker. Now I am trading happy. Thanks FXpro for making my life much happier by getting rid of you from my life.

Lastly, if I said something is wrong, then you better bet your life that SOMETHING is wrong. Do not dismiss anything your customers said.
bit . ly/fantestimonials
  • #927
  • May 2, 2016 4:15am May 2, 2016 4:15am
Quoting darksorrow
{quote} Now on topic, About trading on FXPro, They used few dirty tricks. 1. To put most people under Cyprus regulation. Here http://www.fxpro.co.uk/trading/info/deposit they made sure most will go under cyprus regulation: {quote} Since most non westerns have to use e-wallet so don't have any chance of trading under UK regulation. Also for pending orders http://www.fxpro.co.uk/trading/products/mt4-order they will use "Market Execution". From my point of view Instaforex still has superior execution policy. But can't withdraw...
Hi darksorrow,

Please note that we do not transfer clients to our CySec regulation, clients chose themselves when they open an account which jurisdiction they wish to register under (subject to country of residence). Unfortunately we currently do not offer e-wallets under the FCA jurisdiction, however you may use bank wire or credit/debit cards.

For Pending orders, 'Market Execution' is used for all Stop orders. Limit orders however are subject to 'Limit Execution', meaning that you will receive your requested price or better.

Please do not hesitate to contact us directly should you have any concerns at all,

Kind regards,

Lianna
FxPro Support
  • #928
  • May 2, 2016 4:22am May 2, 2016 4:22am
Quoting meyoik
Hello FxPro, As I mentioned in my last post, I would look into the execution a bit more, and so far my attention has been focused on requotes. Given that there can be slightly different definitions when it comes to requotes, I think we can use this one as a starting point: {image} I having been going through my MT4 logs and have approximately 70-100 requotes a day, which comes to about 500 - 700 a week, which comes down to 2000 - 3000 a month. If we take the average of ~2500, that would mean that 2,500 times a month I received an inferior price...
Hi meyoik,

Our MT4 account type works with 'Instant Execution', meaning that requotes can occur when the requested price is no longer available.

However, if you are experiencing a high number of requotes as you have mentioned, please send me a PM or contact us directly in order to look into this for you.

The MT4 with fixed spread is also operating with an Instant execution model, with no dealer intervention.

Kind regards,

Lianna
FxPro Support
  • #929
  • May 2, 2016 4:38am May 2, 2016 4:38am
Quoting ForMeFact0ry
Let me tell you about fxpro, i have 2 years experience with them. It wasn't good. I stopped trading with them for 6 months or more, not sure. Now i have the time to put up a review. I open fxpro cos of diversity, i used my paypal to fund. Trading was all going good for a year or so.. Then the mobile MT4 app started to lagg big time. Not for any other brokers but just fxpro. I suspect it is the data feed. I got EXTREMELY PISSED when I feedback falls on deaf ears. I would like to kindly point out that if you treat your customers as if they are stupid,...
Dear ForMeFact0ry,

I am sorry to hear that you have experienced this issue. The MT4 app that we use is the official Metaquotes app, and does not generally experience such problems, which is the reason for the seemingly irrelevant questions asked by our agents. I can confirm that we do not have any issues with data feeds and in this case we would need to communicate with Metaquotes directly in order to troubleshoot further.

Whenever there is a unique issue on a platform, we always need to be aware of the device model that the client is using, in order to try and identify the cause of the problem and therefore the model of phone that you are using would have been something that Metaquotes would have requested themselves.

In any case I am sorry to hear that you did not feel that you received the best possible service from us, as this is something that we always strive for.

Kind regards,

Lianna
FxPro Support
  • #930
  • May 2, 2016 3:51pm May 2, 2016 3:51pm
Quoting Lianna@FxPro
{quote} Hi meyoik, Our MT4 account type works with 'Instant Execution', meaning that requotes can occur when the requested price is no longer available. However, if you are experiencing a high number of requotes as you have mentioned, please send me a PM or contact us directly in order to look into this for you. The MT4 with fixed spread is also operating with an Instant execution model, with no dealer intervention. Kind regards, Lianna FxPro Support
Hello Lianna,

Thanks for your reply.

I started actively monitoring requotes in my FxPro Mt4, last week I was averaging almost 100 a day, this week -only Monday so far- I've had less than 20 up to now. If it spikes again I will contact you.
  • #931
  • May 3, 2016 3:12am May 3, 2016 3:12am
Quoting Lianna@FxPro
{quote} Hi darksorrow, Please note that we do not transfer clients to our CySec regulation, clients chose themselves when they open an account which jurisdiction they wish to register under (subject to country of residence). Unfortunately we currently do not offer e-wallets under the FCA jurisdiction, however you may use bank wire or credit/debit cards. For Pending orders, 'Market Execution' is used for all Stop orders. Limit orders however are subject to 'Limit Execution', meaning that you will receive your requested price or better. Please do...
Normally FXPro does not do anything. TECHNICALLY client's limitations put them on a different regulation. It's not brokers fault.

Anyways, by reading your trading conditions I am sure I have NO LUCK on making profit with you. So you are out of the list.
  • #932
  • May 4, 2016 1:14am May 4, 2016 1:14am
Fxpro is off for about 15 minutes
atheer1
  • #933
  • May 4, 2016 3:54am May 4, 2016 3:54am
Quoting atheer1
Fxpro is off for about 15 minutes
Hi atheer1,

Unfortunately we have experienced a technical issue with our Liquidity Providers for a period of time, however this has now been fully resolved.

Please contact us directly if you have had any trades affected by this issue.

Kind regards,

Lianna
FxPro Support
  • #934
  • May 18, 2016 3:48am May 18, 2016 3:48am
Why FXPRO swap is both negative for long and short positions for practically all pairs? Second it is large in comparison to other brokers. It is like a commission for holding positions overnight?
  • #935
  • May 18, 2016 7:48am May 18, 2016 7:48am
Quoting AlexTech1
Why FXPRO swap is both negative for long and short positions for practically all pairs? Second it is large in comparison to other brokers. It is like a commission for holding positions overnight?
Dear AlexTech1,

Swap is calculated by taking the difference between the respective interest rates in the currency pair being traded and adding FxPro's commission fee for rolling over the position to the next trading day. The result can either be a positive figure owed to the client or a negative figure owed by the client.

Kind regards,
FxPro Team
Trading CFDs involves significant risk of loss.
  • #936
  • May 18, 2016 7:49am May 18, 2016 7:49am
FxPro Introduces MT4 Account with Market Execution and Lower Spreads

Following the expansion of its product range, online broker FxPro is now expanding its range of trading accounts by introducing MT4 with market execution. This account type and its demo version are available to all registered clients as of today, May 18.

With this account, FxPro is also introducing the lowest spreads ever to appear on its MT4 platform. Specifically, clients who wish to trade in the familiar environment of MT4 with market execution can expect lower spreads across all currency pairs, as well as across commodities. This new account also offers the award-winning order execution that FxPro delivers across its range of platforms, and orders are executed at the volume-weighted average price (VWAP), that is essentially the best available market price as provided by FxPro's pool of liquidity providers.

The FxPro MT4 account with market execution is primarily aimed at clients who prefer trading on the popular MT4 platform, yet wish to enjoy the benefits of market execution. Clients of FxPro may still trade on MT4 with instant execution and fixed or floating spreads, or opt for an MT5 or cTrader account with market execution.

FxPro CEO, Charalambos Psimolophitis, commented:
Quote
After closely inspecting our clients' requests, we have decided to proceed with offering market execution on our MT4 platform while lowering our spreads even more. We expect that this development will be well-received by traders. As always, we appreciate any feedback by our clients as we continue to work towards enhancing and expanding our product range.

http://www.fxpro.co.uk/group/media/n...-lower-spreads
Trading CFDs involves significant risk of loss.
  • #937
  • May 18, 2016 8:13am May 18, 2016 8:13am
The respective interest rates in the currency pair being traded should be negative and positive for long and short positions, they can not be both negative. So you confirm that FXPRO "swap" has little to do with interest rates, but simply it is FxPro's commission fees, which are exorbitant.
  • #938
  • May 19, 2016 10:51am May 19, 2016 10:51am
Quoting AlexTech1
The respective interest rates in the currency pair being traded should be negative and positive for long and short positions, they can not be both negative. So you confirm that FXPRO "swap" has little to do with interest rates, but simply it is FxPro's commission fees, which are exorbitant.
Hi AlexTech1,

Please note that the swap rates are calculated based on a specific formula which includes not just the relevant interest rates for the financial instrument, but it also other factors such as FxPros commissions (where applicable). We always aim to be as competitive as possible with the other market participants.

For future reference please note that the swap rates for each instrument are provided on our website whilst in addition you may use the FxPro calculator to view swap charges at (http://www.fxpro.co.uk/trading/calculators/swap).

Should you require anything else, do not hesitate to contact us.

Kind regards,
Lianna
  • #939
  • May 19, 2016 2:20pm May 19, 2016 2:20pm
Quoting Lianna@FxPro
{quote} Hi AlexTech1, Please note that the swap rates are calculated based on a specific formula which includes not just the relevant interest rates for the financial instrument, but it also other factors such as FxPros commissions (where applicable). We always aim to be as competitive as possible with the other market participants. For future reference please note that the swap rates for each instrument are provided on our website whilst in addition you may use the FxPro calculator to view swap charges at (http://www.fxpro.co.uk/trading/calculators/swap)....
Yea right!!!!
  • #940
  • Jun 24, 2016 8:55am Jun 24, 2016 8:55am
Any news about margin requirements? When can we expect the regular margins?
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