Going offshore to escape the CFTC

I’ve signed up with FinPro recently after sifting through this thread and reading your reviews.
I’m pleased with the spreads and execution (although commissions are $4/lot on their ECN account) but I also noticed something that I’ve submitted to support.

Their live server opened 5 minutes later than usual on Sunday, which caused all their candles to be shifted by 5 minutes. The price is current, but the candlestick formation is wrong. This is noticeable even comparing their Demo server.

I was going to paste pictures but my status is too new lol.
You can log in and check USDJPY 15 minute or 5 minute feed on both Demo and Live servers and you will notice the different candlestick formation, pay attention to the wicks.

Hmmm good info. I don’t really pay much strict attention to Candles but interesting…

hyperscalper

Finpro/Turnkey server time is also NY+3hrs so the daily candle may look a little off. Plus they paint a separate candle for Sunday as well. Not really a big deal for me just had to tweak a few things on my setup for the adjustment.

Overall pretty happy with them, great spreads plus margins on energy and metals are great.

I just checked and I’m pretty sure their server is GMT which is EST + 4. Currently 3:05 GMT, same time is displayed on MT4. And right now it’s 11.05pm in NY.

Agree their spreads and margin on metals are great.

FinProTrading server is GMT…

hyperscalper

I have been using TW and not had any issue like mentioned. I am in Florida so that might be why.

Hi all!

I am new to Forex trading and just discovered this thread. I am currently trading a demo account with Capital City Markets and am not impressed by them. I was researching Offshore brokers and, based on the low costs, I chose to look more into FinPro Trading. I had a couple of chats with them and I felt that some of the information they are presenting regarding regulation and commissions have been deceiving and inconsistent. They have no regulation and they were quoting the commission on an ECN account as one way while the VIP account is round trip. The term sheets look exactly the same!!! I then found this chat and some of my concerns have been alleviated.

I opened a Demo account with FinPro Trading and noticed that the broker was actually Turnkey Forex. I found that company’s website, which is less informative than FinPro Trading, but noticed that the account structure is very close to FinPro Trading, including the names of the account. According to the FAQ, they accept US customers. However, I have noticed some differences which make Turnkey more attractive

ECN Acct:

Leverage - FinPro_ 400:1 Turnkey 200:1
Commission - FinPro_ $4 Per 100K one way Turnkey $2 Per 100K one way
Spreads - I believe they average 0.2 Pips on the EURUSD for both
Deposit Bonus - Both will provide 100% match up to $20K

VIP Account (25K initial deposit):

Leverage - FinPro 100:1 Turnkey 100:1
Commission - FinPro $2 Per 100K round trip (as stated to me on chat) Turnkey $2 (not stated if OW or RT)
Spreads - I believe they average 0.2 Pips on the EURUSD for both
Deposit Bonus - FinPro None Turnkey 100% match up to $20K

Based on those facts, I my questions are:

  1. Does anyone have any experience with Turnkey? Are they related to FinPro? If so, how?
  2. Are the people at Turnkey reputable?
  3. Does anyone know what there company’s really charge in commission on these accounts? Do I need to open a demo account on each one to get the true answer?
  4. Based on the ability to receive a 100% deposit bonus match of $20K, the Turnkey VIP account looks the most attractive. What should I be concern about?

Thank you all for you help!

If you scroll up, there’s plenty discussed about Finpro/Turnkey.

I believe Finpro is an IB via Turnkey. Finpro has a few different instruments offered then Turnkey, like WTI and DAX futures and NGAS spot.

I have live accounts with both but mostly trade with Finpro for their great spreads/margins on energy and metals. Haven’t had any problems with them at all.

FinProTrading is very good; however see my earlier comments on wide spreads during the Asian session. They have very low commissions but, as I speculated, due to very favorable deal with liquidity provider(s) and could certainly benefit from additional "competition" between liquidity providers to keep the spreads down during those infrequent situations where wide spreads are seen.

Having said that, we're putting more eggs into their basket, mainly due to execution speed and low commission; so high value lot size trades can scalp for shorter targets with their very favorable Commission costs and very quick execution.

[EDIT] I had meant to advise against taking a Bonus. Why would anyone do that given the high leverages available? Normally you'll get 400:1 at FinProTrading on simple request.

[EDIT2] https://turnkeyforex.com/faq/ describes a wide range of liquidity providers; but I do not know whether our FinProTrading is using that full set of providers or not. I've complained about unusually wide spreads during the 2 hour dead period of the day, and I wouldn't have expected that from all the providers TurnkeyFX lists. ? Their Rollover period is 21.00 GMT and for that 2 hour period there can be wide spreads; otherwise, very good.

hyperscalper

Correct me if I’m wrong, but my commissions on ECN are $4/per turn so $8 per lot round-turn. Have you been able to get lower?

Thanks

My understanding is that it is $2 / side = $4 per round turn.

[EDIT] sometimes this may be shown in a misleading manner in the MT4 platform?..

[EDIT2] I discussed this with another of our “trusted brokers” and was told they were unable to compete with those low commissions.

hyperscalper

Just reviewed this page:
https://finprotrading.com/ecn-account

And checked my statements. Def $8 per round turn.

FINPROTRADING EXECUTION TIMES SLOWING DOWN ?

Just grepping through the log file on one VPS, I am less than
impressed by the execution times we are seeing. In the past
I believe they were very much faster, so I’ll see what FinProTrading
says about this. I want to see times in the 200-300 msec
ranges.

If I pull up the “Journal” tab of the terminal in one of the parallel
processing terminal instances, it says we are 1.37 milliseconds
from their servers, as the VPS is in Amsterdam. So, to me, these
are not great execution times.

This VPS has 6 Xeon processors, so I don’t think concurrency
issues should have any impact on the delays. Measuring the
time in Milliseconds from initiation of an order operation, to the
return from the operation call (MT4 is synchronous) so we use
parallel processes through the NJ4X.com API framework, and
have 4 MT4 terminal.exe processes allocated here, which operate
concurrently, in parallel.

[EDIT] (some of the much longer times may be due to automatic re-try
on order request rejections…)

[EDIT2] After some research and comparing that account with another one,
there is definitely an issue with the particular account setup, so it pays
to check these things, I guess.

hyperscalper

C:\HyperScalper\apps\tt-multi>cat ttbeta.log | grep -i orderop
[20170912-00:30:15.381(GMT)] Sell Market OrderOp elapsed: 543
[20170912-00:30:56.413(GMT)] OrderOp elapsed: 96
[20170912-00:36:00.428(GMT)] OrderOp elapsed *: 67
[20170912-00:36:00.866(GMT)] OrderOp elapsed: 428
[20170912-00:36:00.866(GMT)] OrderOp elapsed: 438
[20170912-00:59:29.236(GMT)] Sell Market OrderOp elapsed: 441
[20170912-01:02:44.533(GMT)] OrderOp elapsed: 112
[20170912-01:27:13.660(GMT)] Buy Market OrderOp elapsed: 419
[20170912-01:30:52.738(GMT)] OrderOp elapsed *: 32
[20170912-01:33:11.129(GMT)] OrderOp elapsed *: 39
[20170912-01:33:14.895(GMT)] OrderOp elapsed *: 39
[20170912-01:33:15.363(GMT)] OrderOp elapsed: 478
[20170912-08:27:25.919(GMT)] Sell Market OrderOp elapsed: 1577
[20170912-08:27:31.466(GMT)] OrderOp elapsed *: 206
[20170912-08:27:44.013(GMT)] Sell Market OrderOp elapsed: 460
[20170912-08:29:03.544(GMT)] OrderOp elapsed *: 52
[20170912-08:29:04.732(GMT)] OrderOp elapsed: 721
[20170912-08:29:04.747(GMT)] OrderOp elapsed: 1207
[20170912-08:29:04.763(GMT)] OrderOp elapsed: 741
[20170912-08:29:04.779(GMT)] OrderOp elapsed: 1234
[20170912-08:34:14.700(GMT)] Sell Market OrderOp elapsed: 1702
[20170912-08:36:43.794(GMT)] OrderOp elapsed *: 15
[20170912-08:36:44.325(GMT)] OrderOp elapsed: 517
[20170912-08:36:44.419(GMT)] OrderOp elapsed: 296
[20170912-17:45:50.593(GMT)] Sell Market OrderOp elapsed: 515
[20170912-18:03:45.468(GMT)] Sell Market OrderOp elapsed: 501
[20170912-18:20:44.624(GMT)] OrderOp elapsed *: 23
[20170912-18:29:23.733(GMT)] Sell Market OrderOp elapsed: 515
[20170912-18:39:09.655(GMT)] Sell Market OrderOp elapsed: 451
[20170912-18:47:05.570(GMT)] Sell Market OrderOp elapsed: 1829
[20170912-18:55:18.038(GMT)] Sell Market OrderOp elapsed: 553
[20170912-18:56:12.038(GMT)] Sell Market OrderOp elapsed: 1173
[20170912-18:57:50.820(GMT)] Sell Market OrderOp elapsed: 456
[20170912-18:59:38.116(GMT)] Sell Market OrderOp elapsed: 657
[20170912-19:08:44.070(GMT)] Sell Market OrderOp elapsed: 1219
[20170912-19:11:29.554(GMT)] Buy Market OrderOp elapsed: 437
[20170912-19:13:12.695(GMT)] Buy Market OrderOp elapsed: 1468
[20170912-19:14:10.116(GMT)] Buy Market OrderOp elapsed: 436
[20170912-19:15:12.804(GMT)] OrderOp elapsed *: 151
[20170912-19:15:13.226(GMT)] OrderOp elapsed: 413
[20170912-19:15:13.335(GMT)] OrderOp elapsed: 519
[20170912-19:15:13.335(GMT)] OrderOp elapsed: 1
[20170912-19:15:13.335(GMT)] OrderOp elapsed: 522
[20170912-19:15:13.335(GMT)] OrderOp elapsed: 111
[20170912-19:15:13.507(GMT)] OrderOp elapsed: 566
[20170912-19:17:36.616(GMT)] Buy Market OrderOp elapsed: 503
[20170912-19:18:23.757(GMT)] Buy Market OrderOp elapsed: 484
[20170912-19:19:07.179(GMT)] Buy Market OrderOp elapsed: 952
[20170912-19:22:03.538(GMT)] OrderOp elapsed *: 139
[20170912-19:22:05.116(GMT)] OrderOp elapsed: 1581
[20170912-19:22:05.116(GMT)] OrderOp elapsed: 4
[20170912-19:22:05.132(GMT)] OrderOp elapsed: 1593
[20170912-19:22:05.132(GMT)] OrderOp elapsed: 1602
[20170912-19:22:05.320(GMT)] OrderOp elapsed: 1747
[20170912-20:44:38.486(GMT)] Buy Market OrderOp elapsed: 464
[20170912-20:50:04.861(GMT)] Buy Market OrderOp elapsed: 436
[20170912-20:52:47.955(GMT)] OrderOp elapsed: 112
[20170912-20:55:13.174(GMT)] OrderOp elapsed *: 90
[20170912-20:55:13.268(GMT)] OrderOp elapsed: 92
[20170912-20:59:40.752(GMT)] OrderOp elapsed *: 37
[20170912-20:59:41.252(GMT)] OrderOp elapsed: 501
[20170912-20:59:41.252(GMT)] OrderOp elapsed: 501
[20170912-20:59:41.361(GMT)] OrderOp elapsed: 268
[20170912-20:59:41.361(GMT)] OrderOp elapsed: 269
[20170913-00:00:44.096(GMT)] Buy Market OrderOp elapsed: 1131
[20170913-00:02:41.893(GMT)] OrderOp elapsed *: 225
[20170913-00:02:43.721(GMT)] OrderOp elapsed: 1837
[20170913-00:02:43.815(GMT)] OrderOp elapsed: 1684
[20170913-00:52:30.329(GMT)] Sell Market OrderOp elapsed: 438
[20170913-00:52:49.204(GMT)] OrderOp elapsed: 106
[20170913-00:57:23.250(GMT)] OrderOp elapsed *: 48
[20170913-00:57:23.641(GMT)] OrderOp elapsed: 394
[20170913-00:57:23.766(GMT)] OrderOp elapsed: 512
[20170913-00:57:23.829(GMT)] OrderOp elapsed: 563
[20170913-00:57:23.844(GMT)] OrderOp elapsed: 578
[20170913-01:07:29.266(GMT)] OrderOp elapsed: 78
[20170913-01:07:36.797(GMT)] OrderOp elapsed *: 102
[20170913-01:07:36.875(GMT)] OrderOp elapsed: 81
[20170913-01:07:59.000(GMT)] OrderOp elapsed: 62
[20170913-01:14:02.157(GMT)] OrderOp elapsed *: 103
[20170913-01:14:02.250(GMT)] OrderOp elapsed: 82
[20170913-18:56:05.514(GMT)] OrderOp elapsed: 149
[20170913-18:56:27.435(GMT)] OrderOp elapsed: 72
[20170913-19:21:33.482(GMT)] OrderOp elapsed *: 46
[20170913-19:21:33.623(GMT)] OrderOp elapsed: 108
[20170913-19:21:33.623(GMT)] OrderOp elapsed: 139
[20170913-19:21:33.935(GMT)] OrderOp elapsed: 451
[20170913-19:21:34.107(GMT)] OrderOp elapsed: 594
[20170913-19:23:47.248(GMT)] OrderOp elapsed: 68
[20170913-20:13:26.825(GMT)] OrderOp elapsed *: 47
[20170913-20:13:27.325(GMT)] OrderOp elapsed: 500
[20170913-20:13:27.512(GMT)] OrderOp elapsed: 291
[20170913-20:19:25.856(GMT)] OrderOp elapsed: 1475
[20170913-20:24:28.059(GMT)] OrderOp elapsed: 96
[20170913-20:41:45.309(GMT)] OrderOp elapsed *: 170
[20170913-20:41:45.731(GMT)] OrderOp elapsed: 422
[20170913-20:42:36.794(GMT)] OrderOp elapsed: 163
[20170913-20:43:41.766(GMT)] Buy Market OrderOp elapsed: 484
[20170913-20:44:59.345(GMT)] OrderOp elapsed: 81
[20170913-20:51:11.829(GMT)] Buy Market OrderOp elapsed: 437
[20170913-20:59:22.954(GMT)] OrderOp elapsed *: 77
[20170913-20:59:23.876(GMT)] OrderOp elapsed: 505
[20170913-20:59:23.876(GMT)] OrderOp elapsed: 927
[20170913-20:59:23.876(GMT)] OrderOp elapsed: 1
[20170913-20:59:23.876(GMT)] OrderOp elapsed: 1
[20170913-20:59:23.876(GMT)] OrderOp elapsed: 929
[20170913-20:59:24.063(GMT)] OrderOp elapsed: 1110
[20170913-23:10:31.816(GMT)] Buy Market OrderOp elapsed: 1151
[20170913-23:11:46.769(GMT)] OrderOp elapsed *: 5
[20170913-23:11:53.457(GMT)] OrderOp elapsed: 94
[20170913-23:11:57.957(GMT)] OrderOp elapsed: 108
[20170913-23:12:00.816(GMT)] OrderOp elapsed: 109
[20170913-23:13:39.082(GMT)] Buy Market OrderOp elapsed: 477
[20170913-23:13:49.878(GMT)] Buy Market OrderOp elapsed: 532
[20170913-23:14:14.488(GMT)] Buy Market OrderOp elapsed: 514
[20170913-23:55:14.146(GMT)] OrderOp elapsed *: 128
[20170913-23:55:14.552(GMT)] OrderOp elapsed: 402
[20170913-23:55:14.552(GMT)] OrderOp elapsed: 403
[20170913-23:55:14.661(GMT)] OrderOp elapsed: 111
[20170913-23:55:14.661(GMT)] OrderOp elapsed: 1
[20170913-23:55:14.661(GMT)] OrderOp elapsed: 515
[20170913-23:55:14.661(GMT)] OrderOp elapsed: 515
[20170913-23:55:14.661(GMT)] OrderOp elapsed: 1
[20170913-23:55:15.177(GMT)] OrderOp elapsed: 623
[20170914-01:08:27.397(GMT)] Buy Market OrderOp elapsed: 416
[20170914-01:08:38.912(GMT)] OrderOp elapsed: 157
[20170914-01:09:01.397(GMT)] OrderOp elapsed: 71
[20170914-01:09:09.584(GMT)] OrderOp elapsed: 112
[20170914-01:10:08.115(GMT)] OrderOp elapsed: 128
[20170914-01:10:13.662(GMT)] OrderOp elapsed: 65
[20170914-01:19:12.819(GMT)] Buy Market OrderOp elapsed: 475
[20170914-01:20:37.569(GMT)] OrderOp elapsed: 74
[20170914-01:30:55.131(GMT)] OrderOp elapsed *: 111
[20170914-01:30:56.240(GMT)] OrderOp elapsed: 1109
[20170914-01:30:56.319(GMT)] OrderOp elapsed: 82
[20170914-01:30:56.350(GMT)] OrderOp elapsed: 1215
[20170914-01:30:56.350(GMT)] OrderOp elapsed: 1218
[20170914-01:30:56.350(GMT)] OrderOp elapsed: 1218
[20170914-01:30:56.444(GMT)] OrderOp elapsed: 104
[20170914-01:30:57.444(GMT)] OrderOp elapsed: 1119
[20170914-03:59:09.066(GMT)] OrderOp elapsed: 131
[20170914-03:59:23.394(GMT)] OrderOp elapsed: 78
[20170914-03:59:25.503(GMT)] OrderOp elapsed: 95
[20170914-03:59:28.003(GMT)] OrderOp elapsed: 87
[20170914-04:03:49.394(GMT)] Sell Market OrderOp elapsed: 434
[20170914-04:25:30.909(GMT)] Sell Market OrderOp elapsed: 445
[20170914-04:36:58.237(GMT)] OrderOp elapsed *: 122
[20170914-04:36:58.331(GMT)] OrderOp elapsed: 78
[20170914-04:36:58.331(GMT)] OrderOp elapsed: 94
[20170914-04:36:58.347(GMT)] OrderOp elapsed: 94
[20170914-04:36:58.362(GMT)] OrderOp elapsed: 109
[20170914-04:39:16.503(GMT)] OrderOp elapsed *: 16
[20170914-04:39:16.987(GMT)] OrderOp elapsed: 484
[20170914-04:39:16.987(GMT)] OrderOp elapsed: 484
[20170914-19:38:49.794(GMT)] Buy Market OrderOp elapsed: 501
[20170914-19:41:58.138(GMT)] Buy Market OrderOp elapsed: 553
[20170914-19:52:56.667(GMT)] OrderOp elapsed *: 203
[20170914-19:57:52.089(GMT)] Buy Market OrderOp elapsed: 542
[20170914-20:02:18.855(GMT)] Buy Market OrderOp elapsed: 423
[20170914-20:10:11.589(GMT)] OrderOp elapsed *: 12
[20170914-20:10:15.042(GMT)] Buy Market OrderOp elapsed: 484
[20170914-20:13:54.308(GMT)] Buy Market OrderOp elapsed: 2157
[20170914-20:30:00.651(GMT)] Buy Market OrderOp elapsed: 486
[20170914-20:36:48.495(GMT)] Buy Market OrderOp elapsed: 514
[20170914-20:37:15.167(GMT)] OrderOp elapsed *: 84
[20170914-20:37:15.620(GMT)] OrderOp elapsed: 450
[20170914-20:37:15.620(GMT)] OrderOp elapsed: 451
[20170914-20:37:15.620(GMT)] OrderOp elapsed: 452
[20170914-20:37:15.730(GMT)] OrderOp elapsed: 568
[20170914-20:37:16.058(GMT)] OrderOp elapsed: 442
[20170914-20:37:16.058(GMT)] OrderOp elapsed: 443
[20170914-20:37:16.136(GMT)] OrderOp elapsed: 294
[20170914-20:37:16.151(GMT)] OrderOp elapsed: 308
[20170914-20:37:33.230(GMT)] Buy Market OrderOp elapsed: 478
[20170914-20:38:01.151(GMT)] Buy Market OrderOp elapsed: 524
[20170914-20:38:05.933(GMT)] Buy Market OrderOp elapsed: 391
[20170914-20:38:12.792(GMT)] OrderOp elapsed *: 55
[20170914-20:38:13.261(GMT)] OrderOp elapsed: 467
[20170914-20:38:13.261(GMT)] OrderOp elapsed: 467
[20170914-20:38:13.261(GMT)] OrderOp elapsed: 470
[20170915-05:22:32.907(GMT)] Sell Market OrderOp elapsed: 431
[20170915-05:27:44.501(GMT)] Sell Market OrderOp elapsed: 535
[20170915-05:41:32.798(GMT)] OrderOp elapsed *: 24
[20170915-05:41:33.236(GMT)] OrderOp elapsed: 432
[20170915-05:41:33.251(GMT)] OrderOp elapsed: 444
[20170915-14:47:45.426(GMT)] Buy Market OrderOp elapsed: 952
[20170915-14:49:28.926(GMT)] OrderOp elapsed: 618
[20170915-15:02:24.457(GMT)] OrderOp elapsed: 89
[20170915-15:02:48.051(GMT)] OrderOp elapsed: 797
[20170915-15:03:26.348(GMT)] OrderOp elapsed *: 56
[20170915-15:03:26.426(GMT)] OrderOp elapsed: 74
[20170915-15:03:26.816(GMT)] OrderOp elapsed: 466
[20170915-15:03:26.816(GMT)] OrderOp elapsed: 3
[20170915-15:11:13.582(GMT)] OrderOp elapsed: 691
[20170915-15:11:13.582(GMT)] OrderOp elapsed: 693
[20170915-16:58:54.718(GMT)] Buy Market OrderOp elapsed: 781
[20170915-17:00:19.546(GMT)] OrderOp elapsed *: 197
[20170915-17:00:20.046(GMT)] OrderOp elapsed: 506
[20170915-17:00:20.093(GMT)] OrderOp elapsed: 396
[20170915-17:00:22.671(GMT)] Sell Market OrderOp elapsed: 517
[20170915-17:04:06.343(GMT)] Sell Market OrderOp elapsed: 516
[20170915-17:07:59.734(GMT)] Sell Market OrderOp elapsed: 480
[20170915-17:12:07.031(GMT)] Sell Market OrderOp elapsed: 434
[20170915-17:40:39.890(GMT)] OrderOp elapsed *: 126
[20170915-17:40:40.343(GMT)] OrderOp elapsed: 446
[20170915-17:40:40.343(GMT)] OrderOp elapsed: 447
[20170915-17:40:40.437(GMT)] OrderOp elapsed: 539
[20170915-17:40:40.437(GMT)] OrderOp elapsed: 547

hyperscalper

Anyone else having issues Trading FX Choice mobile MT4?

Quotes are all grayed out and can not trade.

I pay them $2 per roundturn. You can easily get $2 per side with a simple request to any of their chat agent online and if your volume starts to go over 50 mills a month they will easily go down to $1 per side (that’s what I did)

Markets not open yet.

Thank you. I thought that was the case. But my other accounts on other brokers were not grayed out. Thanks

FXChoice takes them offline during the weekend. I had the same question posed to them when i signed up and that is what they told me.

FINPROTRADING EXECUTION LATENCY ISSUES

OK, I compared 2 apparently identical FinProTrading Live ECN accounts,
and one of them executes in the 500 msec range, while the other one
executes in the sub 100 msec range. I wrote them a note asking them
to figure out why, and fix that one !!

hyperscalper

Definitely good to know… Thanks !

hyperscalper