Hi guys, i live in Lebanon in the MiddleEast near Cyprus, thinking of opening an account with FXPRO or FXCM.<br />
I see FXPRO have low spreads better than FXCM in that, but i had used their demo account for around 5 month, it starting to crash many times, with slow connection & disconnect in news releases, besides sometimes i place a pending order it numbers reaches there, but it doesn't open the position, also many times open & close order fails due to disconnection as they write in the order box.<br />
On the other hand, FXCM have an office in Lebanon which is better for me, i didn't really try their demo account, starting with trying it now...<br />
FXCM also provide a free VPS hosting which is too suitable for me coz i use sometimes Expert Advisers, with them no need to buy a VPS, while FXPRO don't provide it. Besides, in withdrawal purposes it's only 10$ for FXCM coz it have an office in Lebanon, while it's 30 to 40$ with FXPRO coz i'll be applying to international withdrawal.<br />
I like your advise guys about this situation, what broker should i open an account with FXPRO having low spreads or FXCM who have an office in my country with a bit higher spread like 1 spread more with Euro/Usd, Gbp/Usd & many other currencies, also oil is just 2.5 spread while FXCM 5 spread, it was 8 before went down to 5 now, gold the same spread 0.50 for both brokers?<br />
Many traders even who wrote here say that FXPRO lower their spreads for sometime & then higher them on other times, besides they lower spread good but don't use actual market prices, this is why they have low spreads, you don't get real market price.<br />
I just liked the idea of FXPRO coz it's becoming a very high profile broker with low spreads,but again according above aspects, i hope you can give me guys your honest advise about who better to open account with now FXPRO or FXCM?
I wish all guys to warn. I have changed CMC on FxPro. Now I am sorry about it. This broker is not supervised FSA and they deceive me. Quotations at them incorrect, never works take-profit but stop-loss they execute always. One deceit.
Sorry. I do not recommend to work with this company.
I recommend this broker.
I am not happy to work with FxPro. The company defaults undertaken. Very slow performance of demands. The prices do not correspond to market prices. Very bad company and I any more will not entrust them my money.
FxPro it is swindlers. I know that at them now the big problems. Because they have deceived some very influential guys.
Feel. not true, I waited 8 days and came to depend on your bank
the best fxpro using. visa debit card 3-6 day
I swear, this broker is very bad and cruel. I buy gbp/usd, and they destroy all of my winning. after i ahve 115% profit of my total initial deposit they make my execution very slow, so many slipage. there's nothing wrong with my connection, because i use broad band internet service. when i ask customer supprt the do not respond it atv all, eventhough i said i will tell ebout it in many mailing list. and the good news i have all the evidence about it. so stay away from fxpro if you dont want loss your money stupidly. sorry to say, but your so cruel fx pro.
Yes this guy tells the truth. I can't trust FxPro at all of them word continuous lie. It at all the broker. They don't have exits on the market they close all transactions inside and consequently all dealers bear very big risk. I don't advise to trade with them.
FxPonzyPro is exactly that, all these really happy people are only so 'cos they are unable to open with seriously established, well regulated brokers (plz, Cypriot regulation does not compare to individual Western European regulatory bodies, not even MIFID comes close, they offer more guidelines than anything else. And what are the actual physical and financial requirements the Cypriot regulatory body requires of a broker? ) Why did the US refuse to give them an NFA license? You gets what you pays for...in this case not a lot.
I would like to start Forex trading, I would like to know if anyone knows of any broker that I can use and have my mind at ease. Thanks in advance.
This is one of the best brokers i have come to and i have been in this market for over a decade. Some of the problems that have arose from some other traders could be just a coincident or bullshit to redirect clients elsewhere. This company is very professional, it's fast and very accessible. I never had a problem with them... friendly customer service, easy withdraws and low spreads.... WHAT ELSE DO YOU WANT?
This statement concerns and FXPRO. This company isn't the broker in that sense which understand as the broker. They than it is not adjustable and now can't confirm the status on Cyprus. I suggest all interested guys to take away the money or there will be problems with this broker.
You lying, Julian<br />
FxPro is not listed :-D<br />
This short statement simply announces to all unregulated companies which are operated from Cyprus – having headquarters in Cyprus, accepting correspondence and money in Cyprus and providing forex services to the internet community, (The short list of these companies is – Prime4X, Forex4You, FXOpen, TadawulFX, IkoFX, eTorro, BroCo and so on) to simply disappear.
The explosion of the Forex Market worldwide has created a sort of awkward situation for the Island of Cyprus. Before its acceptance in the EU in 2004, Cyprus was an Offshore Company Tax Haven, because of these tax peculiarities as well as its strategic positioning between three continents, Cyprus experienced a built up of unregulated forex brokers establishing their operations on the island while still being registered in also other offshore tax-heaven jurisdictions such as BVI, Seychelles, Costa Rica, Belize, Mauritius, etc. Since these companies were not and still are not regulated by any well-recognized authority, being just a shell companies, they simply do not comply with any anti-money laundering law, because of this one can only characterize them as cowboy companies.<br />
It is because of these companies amongst others that Cyprus was blacklisted as a money laundering country. But, since 2004 Cyprus has joined the European Union had to comply with European Union law and European Parliament Directives, which it did in large part but not completely. This part compliance has removed Cyprus from the blacklist. The efforts of the Cyprus Republic to regulate its market where serious, in 2003 CySEC was established. CySEC (Cyprus Securities and Exchange Commission ) is a regulatory body – (www.cysec.gov.cy) which amongst others also regulates FOREX. As per its announcement of the 17th June 2009 (full version located at: http://www.cysec.gov.cy/Downloads/En...ng%20FOREX.pdf) CySEC defines what is considered to be a FOREX company and what are the requirements to operate one, are: “the persons which provide the abovementioned activity of foreign exchange spot trading have the obligation to submit an application to the Commission in order to be granted CIF(Cyprus Investment Firm) authorization.”<br />
Cyprus wants now to safeguard the good name it has fought so hard to establish, it is for this reason that on the 6th of November 2009 a small announcement of only a few lines was dropped as bomb in the forex industry. It simply stated: “The Cyprus Securities and Exchange Commission (‘the Commission’), in continuance with its announcement dated 17 June 2009, wishes to announce the following:<br />
Persons that conduct foreign exchange trading transactions, which do not aim to the physical delivery of the agreed foreign exchange or are not materially settled in cash, should, within one month from the date of the present announcement:<br />
1. submit an application to the Commission for the granting of a Cyprus Investment Firm authorisation, or<br />
2. cease to provide the above service.<br />
The Commission, upon the lapse of the one month notice, intends to take measures against the persons that did not comply with the above as they will be in violation with the provisions of section 4 of the Investment Services and Activities and Regulated Markets Law”. (see full version at: http://www.cysec.gov.cy/Downloads/En...ding%20(2).pdf)<br />
This short statement simply announces to all unregulated companies which are operated from Cyprus – having headquarters in Cyprus, accepting correspondence and money in Cyprus and providing forex services to the internet community, (The short list of these companies is – FxPro, Prime4X, Forex4You, FXOpen, TadawulFX, IkoFX, eTorro, BroCo and so on) to simply disappear.<br />
This deadline is simply too small for these unregulated companies to go through the process of regulation, it is therefore natural to say that they are not welcome anymore in the Republic of Cyprus and they should either shut down completely or find another country to operate. If they don’t they will be prosecuted at the full letter of the law.<br />
In accordance with Part XVII of the Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007) - 140.-(1) A person who is in violation of or does not comply with subsection (1) or (3) of section 4 or section 139, is guilty of a criminal offence, punishable, in the event of conviction, by a term of imprisonment not exceeding five years or by a fine, not exceeding three hundred and fifty thousand euro (€350.000) or both.<br />
This means that nobody will be able to work with these companies, neither Cypriot employee, banks or money transferring organizations; it does not take a genius to understand that if anyone is carrying deposits with these companies will simply not be able to withdraw them and is in very high risk in losing his or her funds forever. This means that these companies become a criminal business.<br />
My best advice therefore is unless a company is regulated, especially if it operates from Cyprus it is not worth to work with. It does not matter how much money in bonus they give you when they will simply not be able to wire it to you, they will disappear one day in Cyberspace like so many others have done before.<br />
Dec 07, 2009
naseria dadario, you're a bad advertiser, but merry christmas an new year!
fx-pro is not a broker. i mean it is a market maker, not a broker. if you want to know the difference read this:<br />
ACM is the best broker of all times
does not offer micro lot ? i think this broker to confidence. be careful with market maker broker
FXPro has emailed it's entire database of Amercian Clients stating that after 26th January 2010 all accounts belonging to US Residents will be closed.<br />
In an online chat their customer support states "Our license to trade in the USA was rejected, so we have no option other than to close the USA channel"<br />
Forex4pros has been in negotiation with various forex brokers to help with the account migrations of ex FXPRo customers.<br />
We are pleased to announce LITEFOREXSA is able to help you with your account moves, please visit their site now for further details.
it is simple, FXpro is the best broker
@Siang-Loke, <br />
You are having problem with your English, why didnt you use your official language instead of disgracing yourself in public with filthy comments about a program majority of people are voting as the best? Were you paid to come and disgrace yourself here? Dont you think you are over-stressing yourself? I bet you, you dont even know anything about FOREX... lets bet??!!!
FXpro is very good broker,safe,simple,fast...RECOMENDED BROKER
how cam all those comments cab be true ones "they don't pay me" - that is simply impossible, otherwise go and fill complaint with their regulator and they will be fucked...<br />
so one thing - they are HONEST and GOOD broker being spammed by other companies or SHITTY TRADERS who've lost because of lack of their brains.<br />
That is easiest thing to blaim broker of your losses.<br />
Go FxPro in F1 with BMW Sauber from loyal client and huge F1 fan
Fx Pro is ok,ive been trading with them for a while n making good money ,withdrawal is fast even down to Nigeria where i reside jus takes 3days.
Excellent wd 35k profit without any problem
I use this broker for almost 3 months and make Wd in 2 times with no problem, honest support (Recommended)
FX Pro Is The Best
This very bad broker, I waiting 8 week for money!! I am IB and I told ok ay open in Cyprus, in Europe is safe. LIES more safe on moon!!! your metadrader also very slow they send to me riqoute all time. FXPRO think that because I in Malaysia is ok ay. I tell them pay me or I tel the world you bad broker!! They dont pay so I teling you!! I open already with other broker, you should to!
I have been at their event Fxpro Cyprus Rally, it was really cool. I do trade with them and i don’t have any major problems and as i am a Cypriot, i want to say that Cyprus is one of the safest financial places in the earth today. <br />
To read only by American friends and their regulators, i want to say thank you, for today world crisis. Best regards for Madof and his regulators, City bank and other bullet proof and well organised companies. Europe has to safer because of you boys. You manage to cheat world one more time.
FxPro is an award-winning online broker offering Contracts for Difference (CFDs) and Spread Betting on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Traders are provided...
Regulation: CySEC, FCA, FSB, DFSA, SCBFxPro trading information
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