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Experiences with FxPro

  • #961
  • Aug 2, 2016 8:55am Aug 2, 2016 8:55am
Anyone has this spike down in EURGBP? Can't find it with other brokers though. The strange thing is that it went straight to take away my buy order almost to the pip!
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15.png Size: 48 KB
  • #962
  • Aug 3, 2016 7:30am Aug 3, 2016 7:30am
Quoting subbu
Anyone has this spike down in EURGBP? Can't find it with other brokers though. The strange thing is that it went straight to take away my buy order almost to the pip! {image}
Dear subbu,

Please contact our Customer Support which is available 24/5 via
- Live Chat (http://www.fxpro.com),
- e-mail ([email protected]),
- or by phone (+44 (0) 203 151 5550).

Additionally, you may also request a call back (http://www.fxpro.com).

Kind regards,
FxPro Team
Trading CFDs involves significant risk of loss.
  • #963
  • Aug 5, 2016 3:55am Aug 5, 2016 3:55am
Quoting FxPro Global
{quote} Dear subbu, Please contact our Customer Support which is available 24/5 via - Live Chat (http://www.fxpro.com), - e-mail ([email protected] ("[email protected]")), - or by phone (+44 (0) 203 151 5550). Additionally, you may also request a call back (http://www.fxpro.com). Kind regards, FxPro Team
Yes I did and this is the final outcome:

"We have checked and we confirm that all orders were executed correctly and in line with our order execution policy.

The closure of the order closed due to the Stop loss at 00:00 UTC+3 when the rollover takes place. At that time Banks withdraw liquidity from the Market in order to reconcile their Books and perform the rollover, thus spreads are wider than normal. The Stop Loss on your orders was triggered due to this spread widening. However, as a gesture of goodwill by the Company, we are willing to zero out all 4 orders."

Thank you for your assistance FxPro Global.
  • #964
  • Aug 9, 2016 1:20am Aug 9, 2016 1:20am
FxPro, I am very disappointed in the 17:00 EDT SPREAD explosion on GBPYEN that seems a regular occurrence
on the ctrader platform.
See the attached gif, This 20 + pip explosion in the BID price (that's whats tracked on the chart) is really unacceptable.
Whats more your servers are closed for 5 minutes a day at 1700 EDT, so people and positions are blind unlike other brokers.

I know your standard reply will be "market trading conditions etc"/ liquidity etc , but you NEED TO LOOK INTO THIS
PROBLEM AND SORT IT OUT.
You cant expect traders trying to sort this out with you on a trade by trade basis as it occurs.

Your spreads are already higher than normal, so this should NOT be HAPPENING.

However i want to say FXPro has a great reputation, I like the broker and its trading conditions, but what use is this with a 20 pip blow out on a regular basis.

Your loosing business... good business for some short term " B Book bucketshop trades" by your internal dealers.

Peter
Attached Image (click to enlarge)
Click to Enlarge Name: gbpyen fxpro.JPG Size: 174 KB
  • #965
  • Aug 10, 2016 5:36pm Aug 10, 2016 5:36pm
I will never trust in FXPro, I traded with FxPro for long time, I have fixed account, after long time of traiding, I found that, the positions closing not in the same price which I requested, specially in SL, if the price was near of SL, don't be surprise if you see the price move up/down or the spread move wider more just to close your positions, and if you ask the company by chat or send email about the reason, the answers always same, there was some news or abnormal moving in the market and the spread is coming more wide.

NO way to return anything from their side.

I informed them that the account is Fixed spread, they answer that the fixed spread is working only in normal condition of the market, and anywhere / anytime, if you see the spread is wider, they have answer, the market was in abnormal condition. (they only do copy/paste of the answer)
Also, if I opened many orders during news, all orders closed in negative side, even if my orders was LONG and the price moved up, it closed because I put SL, and they make the spread MORE wider just to close the orders with HUGE loses.

It was really bad for me to trust in that broker.

My advice for everyone, be carful from FxPro.
  • #966
  • Aug 11, 2016 5:03am Aug 11, 2016 5:03am
Quoting peterk1
FxPro, I am very disappointed in the 17:00 EDT SPREAD explosion on GBPYEN that seems a regular occurrence on the ctrader platform. See the attached gif, This 20 + pip explosion in the BID price (that's whats tracked on the chart) is really unacceptable. Whats more your servers are closed for 5 minutes a day at 1700 EDT, so people and positions are blind unlike other brokers. I know your standard reply will be "market trading conditions etc"/ liquidity etc , but you NEED TO LOOK INTO THIS PROBLEM AND SORT IT OUT. You cant expect traders trying to...

Dear peterk1,

Please be informed that FxPro cTrader is a pure ECN model and we halt trading for some minutes in order to protect our clients from LP’s reducing liquidity at the time, which can often result in huge spreads. It is very common at this time for spreads to be increased by the Liquidity Providers. Please note that the cTrader prices are coming directly from LP’s.

The rest of account types offered by FxPro don’t have such feature, allowing clients to trade continuously 24/5.

Kind regards,
FxPro Team
Trading CFDs involves significant risk of loss.
  • #967
  • Aug 11, 2016 5:05am Aug 11, 2016 5:05am
Quoting Blackice
I will never trust in FXPro, I traded with FxPro for long time, I have fixed account, after long time of traiding, I found that, the positions closing not in the same price which I requested, specially in SL, if the price was near of SL, don't be surprise if you see the price move up/down or the spread move wider more just to close your positions, and if you ask the company by chat or send email about the reason, the answers always same, there was some news or abnormal moving in the market and the spread is coming more wide. NO way to return anything...

Dear Blackice,

Please be informed that the fixed spread account offers fixed spreads during certain trading hours. You can see all details of the Fixed spreads and the Abnormal market conditions here: http://www.fxpro.co.uk/trading/forex

Attached Image (click to enlarge)
Click to Enlarge Name: FixedSpreads.jpg Size: 124 KB


Please also note that even though the account offers fixed spreads for Instant orders, all ‘Stop’ orders are executed with market execution, meaning that you receive VWAP. Thus, for Stop Losses you can receive a better or worse price, depending on market conditions. The majority of VWAP is positive, as it can be seen in our quarterly slippage statistics: http://www.fxpro.co.uk/group/media/n...cs-for-q1-2016

We provide No Dealer Intervention and spreads offered are those received from LP’s plus a small mark up.

Kind regards,
FxPro Team
Trading CFDs involves significant risk of loss.
  • #968
  • Aug 11, 2016 5:40am Aug 11, 2016 5:40am
Abnormal is useful work to use it this condition, why do I need fixed spread if there is no fixed spread during abnormal condition.
With normal condition the normal account give less spread than the fixed spread, why should I use fixed spread ????
when I open order and your website say it will give that numer of spreads during abnormal condition and I surprise that the stop loss skipped all spreads and close it with more than 12 pips and the cross moved sharply with my order side more than 150 pips, that will put 100s signs on FxPro .
I send via email to the [email protected] that picture which you attached, but without any good feed back from FxPro.
it is not only one time, many time and never found any anbormal move be with clients, all moving against clients.
Also with normal condition, if the price was near of SL, you will see the spread be wider to close the order, some time before touching the price, if you inquire the answer same, there was abnormal condition and the company give the best price for clients.
  • #969
  • Aug 11, 2016 7:44am Aug 11, 2016 7:44am
FXpro, you say " on ctrader we halt trading for a few minutes " during rollover to protect clients.
Yes I see that there charts are off for 5 minutes during 17:00EDT.
The problem is, when you turn the system back on you OBVIOUSLY STILL DONT HAVE ENOUGH liquidity in there and
the price is exploding still.
Why dosent FXPRO close the system for 8 or 10 minutes instead of the the current 5 minutes. THat way you get more liquidity on there and stop with this this Price explosion nonsense.
This type of this is giving FxPro a bad name.

It looks like B Book STOP HUNTING as it currently stands.
Tell management to either improve liquidity OR extend the closure period to 10 minutes to gain liquidity.

regards
Peter
  • #970
  • Aug 11, 2016 8:51am Aug 11, 2016 8:51am
Quoting Blackice
Abnormal is useful work to use it this condition, why do I need fixed spread if there is no fixed spread during abnormal condition. With normal condition the normal account give less spread than the fixed spread, why should I use fixed spread ???? when I open order and your website say it will give that numer of spreads during abnormal condition and I surprise that the stop loss skipped all spreads and close it with more than 12 pips and the cross moved sharply with my order side more than 150 pips, that will put 100s signs on FxPro . I send via...
Dear Blackice,

Could you please send that email to [email protected] once again? Or please provide us (PM) with your details (Account Number or Login) so that we may look into this issue.

Kind regards,
FxPro Team
Trading CFDs involves significant risk of loss.
  • #971
  • Aug 11, 2016 9:45pm Aug 11, 2016 9:45pm
FXPro
See the attached 2 images, (1 min chart) one from ctrader Fxpro, other Dukascopy for same period ystd
Look at the stop hunting/lack of liquidity on gbpyen

How does management suggest traders trade on your platform ,ctrader, with an OBVIOUS daily 20+pip spike in Bid price (who knows what the ask price spread explosion is, another 20pip up?).

I note the major spike occurs at 17:20edt yesterday ... what steps will management do to rectify this?

why don't you close trading for 10-15 minutes at that time... better still, provide proper liquidity.

Peter
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpyen fxpro2.JPG Size: 284 KB
Click to Enlarge Name: gbpjpy duk.JPG Size: 121 KB
  • #972
  • Aug 11, 2016 10:16pm Aug 11, 2016 10:16pm
Quoting FxPro Global
{quote} Dear Blackice, Could you please send that email to [email protected] once again? Or please provide us (PM) with your details (Account Number or Login) so that we may look into this issue. Kind regards, FxPro Team
Hi,

I think an ordered I made was closed very far away from my stoploss, should I wirte to that email?

Does the live chat work for this?
A good strategy for trading is... the opposite of having a bad strategy.
  • #973
  • Aug 12, 2016 3:53am Aug 12, 2016 3:53am
Quoting PowerTrade
{quote} Hi, I think an ordered I made was closed very far away from my stoploss, should I wirte to that email? Does the live chat work for this?
Dear PowerTrade,

Please contact our Customer Support which is available 24/5 via
- Live Chat (http://www.fxpro.com),
- e-mail ([email protected]),
- or by phone (+44 (0) 203 151 5550).

Additionally, you may also request a call back (http://www.fxpro.com).

Kind regards,
FxPro Team
Trading CFDs involves significant risk of loss.
  • #974
  • Edited 5:09am Aug 18, 2016 12:06am | Edited 5:09am
Dear FXPro ,

I have always thought highly of your company as I do know of a millionaire trader using / used your platform. However , in this span of 1 1/2 years , I have noticed that your platform has 'bad tick' data.

This was just picked today , for Aug 12 2300hrs

First and second photo from FXPro , last one from activtrades.

Initially , I thought it was a broker difference.......... then when i check on my other FXPro demo account .......... the data was different too..........

Your live chat couldn't see the photo , so its clear that we can all see it here ...

My question is why from the same broker say currency pair EURGBP , on 12 aug 2300 hrs there are differences on 2 FXPRO demo accounts.

The account numbers 6953343 and 6922859.

The next question is .......... if it happened on a real account ? How will I be reimbursed ?

Its really scary when you ask the live chat how much volume can execute and they tell you 10000 lots ............. But when you see this kind of data quality ... Who dares to play at your shop ?


Sorry if the photos are not rotated ........ there seems to be an upload problem
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fxpro1.JPG Size: 480 KB
Click to Enlarge Name: fxpro2.JPG Size: 607 KB
Click to Enlarge Name: activ.JPG Size: 558 KB
  • #975
  • Aug 18, 2016 2:48am Aug 18, 2016 2:48am
Quoting MarkChew
Dear FXPro , I have always thought highly of your company as I do know of a millionaire trader using your platform. However , in this span of 1 1/2 years , I have noticed that your platform has 'bad tick' data. This was just picked today , for Aug 12 2300hrs First and second photo from FXPro , last one from activtrades. Initially , I thought it was a broker difference.......... then when i check on my other FXPro demo account .......... the data was different too.......... Your live chat couldn't see the photo , so its clear that we can all see...
The real problem of trading is that for every buyer there must be a seller and for every seller there must be a buyer...

The sad reality is that I am getting better trading on an old school Market Maker then a lot of ECN, the reason is simply, if you broker has 500.000 or 700.000 clients, even if it a market maker and offer a lot of bonus it has a lot client to balance the trading.

Even if the trading is not real, you order can be matched with other client inside the broker itself.

The ironic thing is that stuff about liquity providers / ECN.. The liquidity providers do not want to loose money.

So, at the end of the day you are better off on a very large broker with market maker status, at least you are against the inexperienced traders who play with large leverage and huge bonus instead to play against the LPs who manage large amount of money.

You have better change to be filled on a market maker then fighting against liquidity provider, because on the MM you getting the money of the loosing clients of the broker (if the broker is honest and match all the orders)
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #976
  • Aug 18, 2016 3:22am Aug 18, 2016 3:22am
Here is a Clear picture

Left Activtrades , center and right FXPro
Attached Image (click to enlarge)
Click to Enlarge Name: fxproA.jpg Size: 902 KB
  • #977
  • Aug 18, 2016 3:50am Aug 18, 2016 3:50am
Quoting MarkChew
Here is a Clear picture Left Activtrades , center and right FXPro {image}
whut!?

That's kind of scary!!!
A good strategy for trading is... the opposite of having a bad strategy.
  • #978
  • Aug 18, 2016 10:10am Aug 18, 2016 10:10am
Quoting MarkChew
Here is a Clear picture Left Activtrades , center and right FXPro {image}
Hi MarkChew,

It is possible sometimes for there to be an invalid tick on demo servers, due to a pricing glitch. If this should happen however, we are always correcting this to reflect the correct prices, which is why you may have not seen this on another platform/account.

If there is ever such an issue on a Live Account we would of course reimburse accordingly.

Kind regards,

Lianna
  • #979
  • Aug 18, 2016 10:28am Aug 18, 2016 10:28am
Quoting Lacunoide
{quote} The real problem of trading is that for every buyer there must be a seller and for every seller there must be a buyer... The sad reality is that I am getting better trading on an old school Market Maker then a lot of ECN, the reason is simply, if you broker has 500.000 or 700.000 clients, even if it a market maker and offer a lot of bonus it has a lot client to balance the trading. Even if the trading is not real, you order can be matched with other client inside the broker itself. The ironic thing is that stuff about liquity providers /...
What you are describing is essentially a local exchange. ;-) You are a clever guy.
  • #980
  • Aug 19, 2016 12:27am Aug 19, 2016 12:27am
Quoting Lianna@FxPro
{quote} Hi MarkChew, It is possible sometimes for there to be an invalid tick on demo servers, due to a pricing glitch. If this should happen however, we are always correcting this to reflect the correct prices, which is why you may have not seen this on another platform/account. If there is ever such an issue on a Live Account we would of course reimburse accordingly. Kind regards, Lianna

Thanks for the favorable clarification
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