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The Official FXPIG Thread

  • #1
  • First Post: Apr 22, 2016 10:39am Apr 22, 2016 10:39am
We have a few 'unofficial' FXPIG threads here at FF, and with the launch of our rebranded web site I have decided to dedicate some time here to answer questions from FF members and concentrate all FXPIG related posts and queries in one thread.

If you are a current client, are on the fence, or decide to become a PIG at some point, please subscribe to this thread as from time to time we will post not only normal company updates and articles but also unique FXPIG promotions valid only to FF members.
Kevin Murcko | CEO at FXPIG
  • #2
  • Apr 22, 2016 11:02am Apr 22, 2016 11:02am
I have a curious question, why would you not take clients from the same very country (NZ) you are regulated in?
@trader_umr
  • #3
  • Apr 22, 2016 11:21am Apr 22, 2016 11:21am
Good question...

Well, when we opened our offices in NZ, under the FSRP and the Companies House oversight, in 2010, we were able to accept NZ residents, however when the FMA took over they added their derivatives license and restricted brokers to solicit retail clients in NZ unless they acquired this license. The problem is that license is too broad for our business and is not structured for a STP non-risk taking entity like FXPIG. That and the cost of the license, with the only benefit being, the ability to accept NZ residents, does not make fiscal sense unfortunately.

We are pursuing other licenses in other parts of the world however. More to come on that later this year.
Kevin Murcko | CEO at FXPIG
  • #4
  • Apr 26, 2016 6:00pm Apr 26, 2016 6:00pm
I am posting a small excerpt from an article I wrote for ForexLive.com, have a look and post your comments...

(http://news.forexlive.com/!/cash-may...-long-20160426)

Quote
Is it possible to link, in a sane thought process, the push toward negative interest rates to the uber-AML' find and destroy' tactics that led to the leak of the notorious 'Panama Papers' in 750 words or less? It won't be easy, and it may be a fool's errand, but this is an opinion piece...so here we go.

Think 2008, think 'housing bubble', think resulting G7 economic policy, and fast forward, through a few 'blah, blah, blahs' to near present day with most of the world's first tier economies with near, at, or below zero interest rates.

Now, image...
Kevin Murcko | CEO at FXPIG
  • #5
  • Apr 27, 2016 5:39am Apr 27, 2016 5:39am
Initially I was a little worried after I read this, as it's likely inevitable. But government has always had power to do whatever suits them. They could come in and seize my physical gold if they wanted (if I had any).
  • #6
  • Apr 27, 2016 2:23pm Apr 27, 2016 2:23pm
Legally they couldn't, unless it was tied to something illegal that is, unless we want to delve into the ultimate what if scenario where the law is essentially non-existent.

Nothing to be scared of though... just something we all should be prepared for, and a nice talking point at your next dinner party.
Kevin Murcko | CEO at FXPIG
  • #7
  • May 4, 2016 11:14pm May 4, 2016 11:14pm
I just checked the website and have some suggestions:

You should make it easier to navigate around to find important things like account types, funding/withdrawal options ... In fact, right now Im still unable to find about these infos on the main page. I saw you offer a prepaid master card but cannot see any additional info about it on your website.

In my honest opinion, you should make the website more serious and professional instead of these "childish" and distracting cartoon animations ( just my opinion anyway). I believe most people in this business are full grown adults who are looking for serious money, not some funny cartoons.
  • #8
  • May 4, 2016 11:25pm May 4, 2016 11:25pm
brian.fer,

We are, in every aspect, a completely different type of FX broker. The company name, our branding, the PIGs, etc., are all meant to shed light on this. FX, and the financial world is taken far to seriously considering the utter ridiculousness that goes on behind the scenes. I think most serious traders can see that, and it's never a bad thing to have a good laugh at yourself, it's quite therapeutic.

As far as the web site; what information are you looking for? The differentiate and research pages have most of the pertinent information you are probably looking for.

Cheers,
Kevin Murcko | CEO at FXPIG
  • #9
  • May 4, 2016 11:32pm May 4, 2016 11:32pm
Quoting Fxpig.com
brian.fer, We are, in every aspect, a completely different type of FX broker. The company name, our branding, the PIGs, etc., are all meant to shed light on this. FX, and the financial world is taken far to seriously considering the utter ridiculousness that goes on behind the scenes. I think most serious traders can see that, and it's never a bad thing to have a good laugh at yourself, it's quite therapeutic. As far as the web site; what information are you looking for? The differentiate and research pages have most of the pertinent information...
Hi, as I said, its just my personal opinion anyway. I found the page about Funding/ Withdrawal already, but still cannot find the info about the prepaid mastercard.
  • #10
  • May 4, 2016 11:38pm May 4, 2016 11:38pm
brian.fer,

There is no dedicated page for the card. We will add one once the card is fully integrated in the portal, in the next 1 to 2 weeks.

Let me know what information you are looking for and I will supply it here.

Cheers,
Kevin Murcko | CEO at FXPIG
  • #11
  • May 10, 2016 3:55am May 10, 2016 3:55am
Kevin, do you know if and when in the member area will be implemented the possibility to fund the account (and withdraw too of course) with ewallets?
  • #12
  • May 10, 2016 11:51am May 10, 2016 11:51am
We are finalizing the skrill interface and the neteller interface now. I would suspect by Friday.

It was ALL ready before the launch, but an upgrade to the core API functions of the back office broke a few things so it all needed to be recoded. It was a small thing but we decided to rewrite rather than to patch.
Kevin Murcko | CEO at FXPIG
  • #13
  • May 10, 2016 2:15pm May 10, 2016 2:15pm
Quoting FXPIG.Kevin
We are finalizing the skrill interface and the neteller interface now. I would suspect by Friday. It was ALL ready before the launch, but an upgrade to the core API functions of the back office broke a few things so it all needed to be recoded. It was a small thing but we decided to rewrite rather than to patch.
Many thanks
  • #14
  • May 18, 2016 1:51pm May 18, 2016 1:51pm
CC deposits have been activated. Skrill and neteller are next in line. Skrill should be active before the end of the week.
Kevin Murcko | CEO at FXPIG
  • #15
  • May 20, 2016 6:17pm May 20, 2016 6:17pm
Good job Kevin and I wish you all the best.

I remember when you started,back in 2011-2012 on a forum called donna forex I think ... You've gone so far Congratulations
  • #16
  • May 22, 2016 2:57pm May 22, 2016 2:57pm
Appreciate it Timos...

We launched in 2011, and yes I was active on Donna Forex for some time after a client alerted me to some posts someone had made in reference to our company. Its been a long road but I am grateful to have traveled it.
Kevin Murcko | CEO at FXPIG
  • #17
  • May 30, 2016 6:02pm May 30, 2016 6:02pm
Hi kevin,

do you provide FIX API account for your custumers? Last Look or NO Last Look LPs?
  • #18
  • May 30, 2016 7:28pm May 30, 2016 7:28pm
We do provide FIX access, and we have one of the lowest minimums around on FIX, 10k, and 5k to test for 30 days.

We have connections to both last look and no last look LPs, but either way to limit the ttl times to 300ms maximum, and 99% of our executions do not see last look 'holds'. We also know who the 'usual suspects' are when it comes to last looks and rejections so we are constantly working to suppress these providers during windows when they tend to disrupt our trade flow. Nothing is perfect, but over time the filtering gets better and more precise.
Kevin Murcko | CEO at FXPIG
  • #19
  • May 31, 2016 3:51am May 31, 2016 3:51am
with no last look LPs do you allow Arbitrage trading?
  • #20
  • May 31, 2016 10:27am May 31, 2016 10:27am
We do not place restrictions on trading... I think I already mentioned that

Latency Arbitrage or Triangular? Remember that limits or resting orders do not sit on the executing LPs book, so when you trade, or try to trade, an arbitrage strategy on a broker who aggregates a liquidity pool on a STP model your orders sit on their aggregation and push to market when the price is hit. And if that broker sends IOC orders they will be filled or canceled (partially or in full) and they will not rest with the LP you canceled them.

There is way to combat this a bit, by using different types of orders... sending markets via FIX and having the broker push them as IOC or FOK limits when they receive them to lessen the time it takes for execution and lessen the rejections.

There is a reason you always need to find new brokers for arbitrage; it generally works only on MMs direct with no STP functionality and when they see what your doing they shut you down.
Kevin Murcko | CEO at FXPIG
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