FX Broker - FXPro

inquirer1956

Newbie
7 0
Just came across the below message on another forum. Checked my MT4 mailbox with FXPro and got the same there.

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.

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
 
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wackypete2

Legendary member
10,229 2,055
Right from their website:
https://www.fxpro.com/trading/conditions/execution-rules

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.

Peter
 

Shaun12uk

Member
92 1
Just been looking at their demo account and they offer really low spreads on the majors unlike
most other FX brokers/SB firms and it is FSA regulated so CLient accounts protected.
Cannot see any negatives unless anyonce can give them a bad report although I must admit
the execution rules have put me off a bit but hey whats the difference between their executuion
policy and that of an SB firm.
 

BumBumBum

Member
66 0
Hello, guys.

Let me to share some letter form FXpro:

fxpro.png


What we can talk about now.
 

Shaun12uk

Member
92 1
So are your positions closed at 11 and reopened at 1am or is it just a case of not being able to trade
for those 2 hours.

Can someone clarify!
 

trader-john

Active member
111 11
So are your positions closed at 11 and reopened at 1am or is it just a case of not being able to trade
for those 2 hours.

Can someone clarify!

Many EAs trade during this hours and I guess FXPro doesn't like this. This is only one reason I know.

I got the same email.

They don't apply this to all account, but I heard from many people about this limitation. :(
 

t2wfx

Active member
113 0
I read in another forum about how he got banned by Fxpro for using Megadroid EA... Lol. Does that means that EA works?









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TradeTraka

Junior member
11 0
I read in another forum about how he got banned by Fxpro for using Megadroid EA... Lol. Does that means that EA works?
LOL, would be a good way to promote a robot, spreading rumours that some brokers have banned it!
 

trader-john

Active member
111 11
I am done with FxPro. The make a lot of marketing that every trader and every trading style is welcome and that they never trade against the client. Well, that is may all true, but only as long the client loose money. As soon the client produce "dead flow" they show there real face. First they blocked EAs for a few trading hours and a few days later they decided to "protect" me even better and blocked EA usage general.

fxpro.png
 
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trader-john

Active member
111 11
LOL, would be a good way to promote a robot, spreading rumours that some brokers have banned it!

I think it have nothing to do with which EA you are using. Dealing desk brokers (not to call them bucket shops) trade against the client. When the client produce to much "dead flow" (cost the broker money) they need to do something against. Like FxPro...:)...to protect the customers from profits they block EA usage.
 

tar

Legendary member
10,443 1,313
Just been looking at their demo account and they offer really low spreads on the majors unlike
most other FX brokers/SB firms and it is FSA regulated so CLient accounts protected.
Cannot see any negatives unless anyonce can give them a bad report although I must admit
the execution rules have put me off a bit but hey whats the difference between their executuion
policy and that of an SB firm.

FXPRO uk is not allowed to hold client money , your money is with FXpro not Fxpro UK ...

http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=228715
 

mrthanks

Newbie
4 0
Hello all,

Can anyone give me feedback on Fab Turbo? I like the thought of automation because i'm still working and just starting out...

Any feedback would be appreciated.
 
 
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