FxPro - experiences and opinions

[neddles777]

Greetings Traders,

I have been using FxPro's demo platform (MT4) for about 6 months to try to learn trading CFD's, specifically the Mini-Dow, Mini-S&P and the Mini Nasdaq. I have been more or less scalping - opening and closing same day using a T/P. For the first 4 months I destroyed 5 accounts, trying to work out a system. Now, 2 months later, I have 3 accounts, all of which are doing quite well. I plan to go live within a couple weeks. My question is... has anybody used FxPro for CFD trading/scalping and if so what is your opinion and experience with this broker - positive or negative?

I know a great deal of the traders that belong to T2W, trade forex, and I would appreciate any feedback from those traders as well. I have phoned, chatted and emailed questions to FxPro and must say their customer service is excellent, but I basically want to get the lowdown on this broker from those who have had real live experience with them. Please note I am not talking about Fx-Pro, but FxPro.

Thank you all, Ned

 

[disi]

They look good. One thing that may worry is that they are based on Cyprus...

 

[neil]

Google

Google the name. Not very good references I am afraid.

 

[glyder]

I've been using their demo platform. If it works as well with real money then its executions are great.
They have just opened a London office in Basinghall street. They're also developing an app for MT on the iphone.

Lots of the bad references on the net refer to the other fxpro which is based in the middle east (Jordan if I remember correctly) they are a whole different story.

I'm also taking a look at prospreads, trouble is they don't have a charting facility.

 

[neddles777]

FxPro Anyone?

With my demo account, I strictly trade the mini's, dow, nasdaq and S&P indices. Using EMA, Bull and Bear power plus volumes, I have a system, but a loose system, I try to avoid heavy trading times, as I figure thats where I might have some problems with slippage and requotes. Fxpro says they have no problem with scalping. I have experienced requotes and slippage even on the demo account, but it is rare. They claim that slippage is minimal, and say that the demo is exactly the same as the live platform (I take this with a grain of salt, obviously)...I have checked prices/times against other info from other sites on the web and they are all spot on...yes, they are in Cyprus, but now that they have an office in GB, I feel better about them (Thanks Glyder, if you go live with them, let me know) If all goes well, I will be going live in about 2 weeks and I will report back to this forum...

But.........

I still would like to know if anyone on the forum is trading with FxPro or has in the past year, I am sure someone out there has at one point or another...I have done a bunch of due diligence on the web and it seems most bad reviews are from 2006 - early 2008...

Thanks to all that responded, and again, if anyone has had any experiences good/bad with FXPro? I would be grateful for any further info?

Thank you, Ned

"Everything should be made as simple as possible, but not simpler." - Einstein

 

[thebigadam]

I've traded with them for over a year

I there, just a quick response to this thread. I've traded with them for over a year live and they have been great. (pity my trading wasn't and I lost money lol) But that was my ault and not the broker's - they're spreads were very tight and the execution much better than the many others I have tried.

Haven't traded much lately as I have'nt had time, but I will start again once their iPhone app comes out, that will be unreal.

So yea, I'd reccomend them to anyone. They are pretty legit as they sponsor F1 cars etc. and have won a few big awards last year - I was worried about the Cyprus thing initially too.

Anyway, hoep that helps. If you have any other questions about trading live with them message me.

Adam

 

[Vilas]

FX Pro.

I've traded with them for over a year live and they have been great. - they're spreads were very tight and the execution much better than the many others I have tried.
.........................
So yea, I'd reccomend them to anyone. They are pretty legit as they sponsor F1 cars etc. and have won a few big awards last year - I was worried about the Cyprus thing initially too.
Adam

Silence on this thread is a bit loud ! I too am interested in finding out something about them . .. what bothers me is that they are marketing everything including T-shirts not to speak of sponsoring Formula 1 Cars...... Execution is very good - what I want to know is how likely are they to up and go if a few investors hit them big !

Thanks for your Opinion - on the point of opening an a/C !

Have a Good Day !
Vilas.

 

[tx_oil_trader]

Similar to "thebigadam", I have been using FXPro in a live account for about six months now (strictly the front month Nymex oil CFD). For the most part, I have been very pleased with the speed and price of execution (now, if only I could get my profitability up to snuff ;-) I would be happily content to keep using them; alas, I am based in the US and losing that ability because they are pulling out of this market. They do not really elaborate on their website as to why they are leaving the US, but I would not be surprised if they are tired of dealing with all the crap from our regulators, which is only getting worse.