FxPro SCAM on hign volatility periods

[AsstModerator]

Mr. Henderson tried to leave a review claiming to be in Canada. He left the review and made all his forums postings from Cyprus.

 

[saminiazi]

5 Stars for FxPro...

Being neutral, I will say that FxPro is one of the best forex brokers I have dealt with. I have traded with them since June 2010 and so far its one of the best trading experience.

Problem in closing a trade in very high volatility can be solved easily by changing the settings in your MT4 platform by giving a slippage of 3-5 pips. This way, hardly ever you will get a requote.

I will give 5 stars to FxPro...

 

[Fxmob]

My "best" record is 5 re-quotes in a row! WTF??? Recently I tried to open a position right when it euro started dropping like a brick I got 3 re-quotes in a row and was unable to enter finally Price dropped 80pips without me! Thanks for that! Absolutely ridiculous! I am done with them!

You all not about for FXPro, Virgin Formula, Aston Villa bla bla bla, a "good" company to trade. What you dont know is that their MT4 has a 5 digit price value, something that might look very good for the traders, 0.5 spread etc. What the traders dont know is that in high volatile periods the fifth digit is changing SOO FAST that you cannot close your trades as you are always asked for requote and requote all the time!! Something that ended me loosing all my money because i couldnt close my trades and after filing a complain to refund me my money they refused!!

PLEASE BE AWARE OF THEIRE PLATFORM AND DONT GET TRAPED THE WAY I DID.

 

[lex7775]

yes when i read all the good reviews makes me sick
may the force destroy them forever

 

[Don McNish]

FXPro is a Cyprus-based market maker, not an ECN. I knew that going in, so I was on high alert to any shenanigans that might occur. That being said, I used them for about a year and was very happy with their service, their spreads and their liquidity... and their customer service, as well.

I made and withdrew hundreds of thousands of dollars in profits. No problems, ever. My account, unfortunately, was canceled by them when they decided to not work with U.S.-based clients (they saw the writing on the wall before a lot of other European brokers did). They gave me plenty of warning and were always kind and professional.

Some brokerages, though, especially market makers committed to offering the lowest spreads they can, are not the best places to scalp or news trade during high-volatility periods. There will be requotes under these circumstances.

I am very sorry that you had such a bad experience.

I also have found FxPro the English FCA approved no the Cyprus CySec Robbers to be a pretty fair broker .. But when the markets go wild I cannot get in or out of a trade the platform seems to freeze ( my other broker is Ironfx please avoid these robbing bastards at all cost my withdrawl from them has been pending 2 months and I have little hope of getting it).

 

[oscarra]

Something that ended me loosing all my money

Hope you didn’t blow too much money and no negative balance !
As mentioned automatic orders protections and increase of slippage setting is a must.

 

[Don McNish]

When I was new to forex 4 years ago I lost nearly 20k to FxPro.. So I just had to go and get it back.. I am now up £20.600.. I am a position trader so high volatility action does not affect me too much. But can sometimes be annoying yet other times it works for the best. most my trades are over 4/8 weeks. But on the positive side the withdrawls have been swift.. unlike Ironfx compared to whom FxPro are Angels.

 

[bmhassene]

I have on question about FXPRO: is it normal that they wide the spread so much that it goes 10 times the normal value. Thanks

 

[Pharaoh]

During periods of high volatility, spreads on any broker will increase. Whether a 10 fold increase is appropriate depends on what the starting spread was, the pair in question, the magnitude of what triggered the increased volatility, and how other brokers are reacting.