Discuss fxpro.com

[pipsbuster]

FXPro scam

Below is the message I received from FXPro having successfully traded Forex Megadroid with them for over a year:

"Dear ,

In order to safeguard all our clients, including yourselves, please be notified that as of today 21:00 server time, and at least until 02:00 AM server time, we will not be accepting trading using Expert Advisors (automated scripts coded in MQL4). This is due to the reduced liquidity available in the market, at these times, and the aggressive trading characteristics of your EA that may affect the smooth operation of the electronic platform.

Please take particular note that any active trades, between these times, will need to be closed manually via your terminal."

Just wanted to warn everyone of this scam brokerage.

 

[pipsbuster]

I think those of us who have suffered from the FXPro actions should submit an email complaint to their regulators in Cyprus - the CySEC (Cyprus Securities and Exchange Commission) at legal@cysec.gov.cy

 

[pipsbuster]

More on FXPro, I would excercise extreme caution with any Forex business which is either owned or controlled by Russians. FXPro is one of them despite being domiciled in Cyprus - their founder is a Russian named Denis Sukhotin: FXPro Plans Even Stronger Growth in 2011 Denis Sukhotin ? Forex Crunch . Enough for me to stay away from them for good.

 

[pipsbuster]

As I continue my research on FXPro, more and more shocking info on this hillarious Russian scam pops up. For one, a member on another forum has pointed out the following statement on the FXPro website:

"Execution venues

Execution venues are the entities within which the orders are placed or to which FxPro transmits orders for execution. For the purposes of orders for the financial instruments provided by FxPro, we act as principal and not as agent on the client's behalf. Therefore, FxPro is the sole execution venue for the execution of the client's orders. FxPro does not transmit the client order in the external market if the order is for a financial instrument provided by FxPro."

Source: https://www.fxpro.com/trading/conditions/execution-rules

 

[f-man]

I think those of us who have suffered from the FXPro actions should submit an email complaint to their regulators in Cyprus - the CySEC (Cyprus Securities and Exchange Commission) at legal@cysec.gov.cy

Hi Pipsbuster,

I was wondering if you could actually do something about the recent decision of them not to allow EAs trading between specific hours.

 

[pipsbuster]

Hi Pipsbuster,

I was wondering if you could actually do something about the recent decision of them not to allow EAs trading between specific hours.

The only thing you can really do, apart from warning your fellow traders about it, is move your trading account elsewhere. I have come across the following foreign brokerages with a solid reputation that have confirmed they accept both US and non-US customers, allow hedging, have no FIFO rule in place, and offer higher than 1:50 leverage accounts: FinFX, FXCBS, TadawulFX. Always looking for more suggestions.

 

[pipsbuster]

I also absolutely love a screenshot of an email from FXPro which I found on another public forum where they themselves openly admit to blocking only certain EA users: http://4.bp.blogspot.com/-_sbAZo-5Uno/TXJTOFNfCeI/AAAAAAAAAyY/NjGCU7QGtu0/s1600/brokers_004.png

 

[sheftalia]

I think those of us who have suffered from the FXPro actions should submit an email complaint to their regulators in Cyprus - the CySEC (Cyprus Securities and Exchange Commission) at legal@cysec.gov.cy

We did,

my case has 85+ days, they are not answering,

I'm an introducing broker of fxpro, cheated, without any reason or justification.

Another person I knew thanks my post in reviews website, is waiting now over 30+ days,

I lost aroun 1500/2000 usd he as customer, over 40.000+ GBP.

We are now collectiong more people and acting then with a lawyer against Cysec too.

I got today contacts with journalist and an online newspaper.

I live in Nicosia, 100 meters from Cysec, I plan to visit them in few days.

They have not answered to me for 85 days and they sent me a letter of investigation on a my dormant website, that's just a provocation.

Who of you have read info about FXPRO and Cysec could have found sufficient data for a Cyprus scandal and a "lobby".

I wrote to the department of finance that is above Cysec.

Who wants to join and want to report his case to journalist in Cyprus can contact me and I can help.

FXPRO need to be punished in few weeks if not days, and Cysec or work for our protection or will be investigated by EU authorities for its silence.

In 2/3 days I will go there personally and I will report to you what they will say.

 

[lex7775]

i will join you sheftalia

this the person on my list and when somebody points me to him please facebook.com/people/Thanos-Vassiliades/100002327313022

cysec is timewaste .. other stratehies pls and only target specific persons .. thx

 

[pipsbuster]

We did,

my case has 85+ days, they are not answering,

I'm an introducing broker of fxpro, cheated, without any reason or justification.

Another person I knew thanks my post in reviews website, is waiting now over 30+ days,

I lost aroun 1500/2000 usd he as customer, over 40.000+ GBP.

We are now collectiong more people and acting then with a lawyer against Cysec too.

I got today contacts with journalist and an online newspaper.

I live in Nicosia, 100 meters from Cysec, I plan to visit them in few days.

They have not answered to me for 85 days and they sent me a letter of investigation on a my dormant website, that's just a provocation.

Who of you have read info about FXPRO and Cysec could have found sufficient data for a Cyprus scandal and a "lobby".

I wrote to the department of finance that is above Cysec.

Who wants to join and want to report his case to journalist in Cyprus can contact me and I can help.

FXPRO need to be punished in few weeks if not days, and Cysec or work for our protection or will be investigated by EU authorities for its silence.

In 2/3 days I will go there personally and I will report to you what they will say.

Thanks for your effort. Please, update us on the results of your visit to the CySEC office.