FXPRO.COM-Unreasonable failure to return account funds

[profitsareking]

FXPRO.COM is based in Cyprus

Oh, ernest8fingers, one more thing, FXPRO.COM is based in Cyprus (which you likely already know). This may be why they are so quirky and weird about withdrawals. Who knows what kind of strange local laws they have to satisfy. That is actually one of the attractions for FXPRO.COM, that they are not US-based company and therefore they are not required to enforce the new FIFO rules. Please comment as you see fit.

 

[ernest8fingers]

u might be right

Profitsareking u may be right in thinking these might be adifferent broker. I have'nt had the usually Broker BS tricks with FXPRO.com. They have been,by far, the best of my long list of brokers I have had. The only issue I could complain about is their withdrawal procedure. They have honored EVERY single one(CC takes up to 5 days and Paypal usually in 24 hours). I am watching this thread closely though.I just hope we are not seeing the beginning of their "new" trend about withdrawals(becoming a "depositOnly" brokerage )?

 

[profitsareking]

FXPRO.COM versus FX-PRO.COM

Hi ernest8fingers, your post about FXPRO.COM is reassuring. May I make a suggestion? Just try withdrawing a modest portion of your account now and see if the procedure has changed. I still believe that prince0179 is confusing the two brokers. Without additional input from prince0179 we really cannot say for sure. I am also watching this thread very carefully. Please post IMMEDIATELY if there is a problem. In the mean time, I think that I will go ahead and fund my account with FXPRO.COM with a smaller amount than I originally intended.

 

[ernest8fingers]

Hi ernest8fingers, your post about FXPRO.COM is reassuring. May I make a suggestion? Just try withdrawing a modest portion of your account now and see if the procedure has changed. I still believe that prince0179 is confusing the two brokers. Without additional input from prince0179 we really cannot say for sure. I am also watching this thread very carefully. Please post IMMEDIATELY if there is a problem. In the mean time, I think that I will go ahead and fund my account with FXPRO.COM with a smaller amount than I originally intended.

I wanted to add that my withdrawals are usually between 100/300 bucks and almost no Broker balks at this low amount(and I am finally trying to grow equity). I wont be making any withdrawals this week. When I do, I will report to this thread at once with the outcome. Also- I have never tendered a successful withdrawal thru their MYFxPro.com page(the official withdrawal/deposit page) and I ,instead, ALWAYS backed up my official request with an email to their accounts dept. Never a problem-always honored. I would only deposit small amount to test all aspects of a new broker.

 

[clem699]

Fxpro Withdrawal

Please i need further info on this withdrawal issue with FXpro,i intend to open an account with them

 

[ericjschroeder]

I have posted in a different forum how much trouble I had with FXPRO and most of it was the withdrawal issues. I also had more losses with them using EAs than other brokers. I finally was able to get the remainder of my money out after multiple calls and emails and being told the same things as this person here. You can only withdraw up to the amount deposited by Paypal, or debit card, and anything else will be wire, although I don't know what happens if you actually make money, then you have no options left to withdraw?. They let me deposit by credit/debit but when I wanted a withdrawal, suddenly I had to submit a COLOR copy of my ID, not just the B&W one they originally asked for.

Maybe not a scam but way too much trouble and frustration for me to ever deal with again.

 

[ernest8fingers]

Not my experience

They are cooky about withdrawal policy but I disagree with the above poster about quality of EA performance. My EA (run on both LIVE and DEMO accounts) has operated for the past 4-5 months and is programmed to operate with this broker exclusively. (their PriceFeed is 5th decimal not 4-this may be a problem for some EAs). I do A-OK with the EA and no problem withdrawaling money either.(I did at 1st over 1 year ago-but did what they told me to do and no problems-over 100 withdrawals). I am NOT defending FXPRO.com or their policies. I would rake this company over the coals if I thought otherwise. The very 1st time they dont honor one of MY withdrawal requests, would mark the end of our trading relationship.This has not happened. They have been better-by far-than my ex-USA based brokers.