I’ve send a screenshot to this email with copy of this topic text + circled some of the differences (there are clearly more).
Dear Rebo73,
Thank you for sending it through to us. The Dealing department will take a look at it and get back to you.
Kind regards,
FxPro Team
Have you tried their mt4 accounts? or have you just traded on their c-trader. im thinking about one or the other right now for trading news events, on the one hand you have the fixed spread mt4 so you dont get killed during nfps by the spread etc but might end up getting re-quoted to death, then whats good about the c-trader is its ecn and no re-quotes but my get killed by the spreads what do you think?
Dear Members,
Please see below the Press Release announcing the slippage and re-quotes statistics for the month of March:
[B]FxPro Committed to Fairness and Transparency[/B]
7 April 2015, London. A strong proponent of transparency and fair trading services, FxPro remains committed to providing its clients with not only full trade reporting and support, but also with advanced order-matching and execution technologies that are continuously upgraded. As a trusted broker for a growing number of clients worldwide, FxPro is pleased to announce its slippage statistics for the month of March:
• Positive = 36%
• At Quote = 36%
• Negative = 28%
As FX is an OTC (Over-the-Counter) product, clients may experience trades executed at a different price to the one displayed at the time. Operating as a Hybrid broker, using a non dealing agency model execution technology, FxPro allows its clients to access top-tier liquidity and to benefit from both its execution technology and its Negative Balance Protection guarantee, while also mitigating operational risk.
In conjunction with its slippage statistics, FxPro is also announcing the percentage of re-quotes that clients received during March:
• Re-quotes = 4.32%
• Positive = 2%
• Negative = 2.32%
FxPro CEO, Charalambos Psimolophitis, commented on these encouraging statistics:
[I]“At FxPro we have long been supporters of transparency and fairness in the Forex industry, and have worked hard to eradicate all conflicts of interest between broker and client. Having adopted a Hybrid Agency Model, we provide our clients with not only superior educational resources and trading tools but also with a guarantee of their funds’ safety. In an industry where it is taken for granted that slippage almost always goes against the client, we are pleased to demonstrate that this is not in fact the case. As the topic of slippage symmetry comes into greater focus, we encourage other brokers to be as forthcoming with their own execution statistics.”[/I]
Its great that fxpro is so transparent. are these statistics representative of 24/5 trading, so if i took 100 trades 28% of the time i would get negative slippage? and 2.32% of the time i would get a negative re-quote, so roughly 30% of the time i would be disappointed with the result is that right? thanks in advance.
Dear Mrquickbuy,
Please allow me to clarify:
You are right about re-quotes, however, the slippage statistics refer to the pending orders (Limit Orders and Take Profits) as well as Stop Losses and Take Profits only.
I hope this clarifies everything.
Kind Regards,
FxPro Team
I have both. Ctrader is best for me. MT4 for CFD trading. If you are FX then stick with cTrader. So far spread has been fairly stable during news events.
Hello,
Do FX Pro provide New York closing times for candlesticks for UK clients? Also I have a demo account and i think i am on the wrong timezone, how can i check this.
Do you know what the spreads are during NFP on c-trader?
Could you tell me what your average spreads are during non-farm-payrolls on MT4 and C-trader account ? please.
Dear MrQuickbuy,
Our average spreads during the NFP, between 15:28 - 15:32 (NFP is at 15:30 Server Time) is around 2.5 pips on the EURUSD pair on the MT4
wow thats really good. so the fixed spread would be 1.6 and floating would be about 2.5 pips. At my broker its between 20 to 60 pips, killed me last nfp.
Dear MrQuickbuy,
Please bear in mind that on the MT4 Fixed Spread account the spread on the NFP and other major events will go up to 1.9 pips as per the spread specifications (Trade EURUSD with FxPro), and that the floating is average at around 2.5 pips, but can go higher at the NFP release (i.e. at exactly 15:30 server time).
Kind regards,
FxPro Team
Dear Members,
We are pleased to announce the following changes and additions:
[B]New Instruments:[/B]
[B]- MT4:[/B] Gold by grams and Ounces. Brent Oil Futures
[B] - MT5:[/B] Brent Oil Futures
[B]Trade Related Updates:[/B]
-
Margin requirements for all Swiss Franc (CHF) pairs will be decreased to 1%. In other words you will be able to trade all CHF pairs with a leverage of up to 1:100.
-
MT5 will be employing Dynamic Leverage. As a result of this change, MT5 account holders will be able to increase their account leverage up to 1:500 in line with the MT4 and cTrader.
Shall you have any questions, please do not hesitate to contact us.
Kind regards,
FxPro Team
Am I right in thinking that FxPro only allow trading via CFDs and not direct spot trading? I’m new to forex and in the process of selecting a broker, so I wanted to ask why FxPro operate that way?
Forgive me if this is a question with an obvious answer to experienced traders out there!
Dear Dbriley,
The definition of a CFD is: A CFD, or contract for difference, is an agreement that allows you to speculate on the value of a financial instrument without having to purchase it outright and take possession of it. In a CFD contract, if the value of the instrument in question is higher when the agreement is closed than it was when it was purchased, the seller must pay the difference to the buyer, if the value is lower the buyer must pay the difference to the seller.
In general, all of the offerings are CFDs. CFDs on spot FX, stocks and etc. So effectively, your are trading CFDs. This is the way the retail FX industry is operating.
I hope that it clarifies everything. Shall you have any other questions, please do let us know, or contact us directly via our Support.
Kind regards,
FxPro Team
Dear members,
It is my pleasure to announce that we have increased our newest product offering, effective from today.
Please see below the Press Release on this matter:
[B]FxPro Increases it’s Product Offering[/B]
01 June 2015, London. Award winning FX broker FxPro is pleased to announce it has expanded its product range offering to encapsulate numerous additional Contract for Difference (CFDs) including numerous additional shares*, indices, commodity and energy futures. More particularly, the broker shall be offering some of the most popular and liquid shares listed on the French, British, German and US markets, new spot indices such as the China 50 and USD index, enhanced energy and agricultural futures including cocoa and coffee, thereby enabling clients to further diversify their trading activity while taking advantage of FxPro’s award-winning services. These new products can be traded on the FxPro MT4 platform and are available as of June 01, 2015.
Known for operating as a No-Dealing-Desk broker, offering top-tier liquidity and superior execution technology, FxPro is ever expanding and improving its services. The broker has therefore introduced these much-anticipated additions to its product range with the aim of meeting its clients’ needs and investment objectives.
FxPro CEO, Charalambos Psimolophitis, commented on this development:
[I]“Every new service we offer is driven by our ongoing attempts to secure better trading conditions for our clients. Having observed an increasing demand for CFDs on more products, we have responded with these new additions in effort to provide our clients with the opportunity to expand their trading activities, while also enjoying the benefits of our platforms and high standards of execution.”[/I]
*Shares are only available to clients of FxPro Financial Services Limited
The full list of products is available here:
Forex | Products & Spreads | FxPro
Shall you have any questions, please do not hesitate to contact us.
Kind regards,
FxPro Team
Hi,
Thanks for taking the time to reply. So, effectively all (or perhaps most) retail forex trading is actually just forex-specific CFDs (i.e a CFD where you’re just speculating on a currency pair)?
A lot of people seem to make a distinction between ‘forex trading’ and CFDs. Why do you think this is? Is it just a misunderstanding of the retail forex industry? These articles on BabyPips are a good example of what I mean:
CFD Trading vs. Spot Forex Trading
What in the World is CFD Trading About?
Many thanks
Dear Dbriley,
Correct. Effectively, a CFD (or a contract for difference), you are not actually holding the commodity, but rather speculating on the price difference.
It is effectively the same thing on the global scale for FX, where the broker is the counter-party of the trade, and depending on the broker they might pass on the trades to the liquidity providers, fully or partially, and others might want to keep it in their own books.
Let me know if this makes sense, or shall you have any other questions.
Kind regards,
FxPro Team
Thanks again for the helpful reply. Could you explain your second paragraph a little more? What did you mean by “on the global scale for FX”? Am I right in thinking you’re referring to the dealing desk vs. non-dealing desk model in that paragraph? Is it still a CFD in these cases? If so, I’m still slightly confused as I would read that as meaning you’re “trading” with the broker’s desk (or their liquidity providers), rather than just entering into a contract regarding how the price might change. Is it just that the platforms are set up so it ‘feels’ like you’re trading, but actually you’re not? Forgive me ignorance - a complete beginner!
I’ve set up an FxPro demo account so will see how I get on.