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FXPIG

FXPIG
About company:

International Forex Broker FXPIG is licensed by the Republic of Vanuatu, located in the South Pacific in the immediate vicinity of New Zealand, where the company was originally established. It was received in 2016. The broker chose an unconventional name, his brand is associated with a pig, which is presented as the company's mascot. The brand's accent is pink, just like the pigskin.

 

The user's first impression after viewing a website is mixed. It is not entirely clear what the founders of the company were guided by in choosing such a mascot. One thing is clear, the format that many brokers are striving for is not used here. The information is presented in a slightly humorous way, and the representatives of FXPIG promise trading without smoke and mirrors. The company positions itself not as a broker, but more as a friend and partner.

 

“We're not trying to sweeten what's going on in the marketplace, and we're not spending dollars to hide the not-so-elegant side of this business. We prefer to invest in research and development in our trading environment.

 

It is rather difficult to navigate the foreign exchange market independently, and we know from experience that traders need answers to their questions, as well as a set of tools to achieve success. "

 

FXPIG is a trademark, while the company's name is: Prime Intermarket Group Asia Pacific Limited.

 

The company was founded by a former trader who has now retired. He was replaced by the former head of institutional sales at Charterprime.

 

FXPIG Trading Offers

FXPIG offers trading in Forex, Stocks, Metals, Energy and CFDs. If we talk about currency pairs, there are 40 of them. There is a single account and a choice of access technology between SPA (top-level liquidity is provided) and MPA (pre-aggregated liquidity).

 

There are demo accounts, so you can test trading platforms and put your trading strategies into practice without sacrificing real money.

 

Traders can choose from three platform options. This is MetaTrader 4, which remains one of the most popular and needs no introduction, cTrader and FIX access. CTrader provides full STP access to four price channels. It can be used by both professional traders and beginners. The broker positions cTrader as one of the best platforms. The FIX API is essentially a set of protocols or rules that help connect to a FIX node. With their help, you can receive incoming market data, as well as receive and transmit order requests. The FIX API is the connection between the trader and the liquidity provider. There are no requirements for volumes and deposits, there are no commissions. Access to eight different pricing in New York and London.

 

To open a PAMM account, you need a deposit of at least $ 2000. Judging by the information provided on the site, investment is as transparent as possible. Each client has direct access to their MyFXPIG ™ portal, where they can track deposits, withdrawals, PnL, commissions and statistics. The account is also tracked publicly on the website.

 

Withdraw funds

There are a number of reliable ways to deposit and withdraw funds, but there are nuances. This part of the sentence should be carefully studied. For example, some methods may only be available for certain countries. There are free options for deposits and inexpensive options for withdrawals. Accordingly, you can stumble upon a withdrawal method that hits your pocket. If on time, then bank transfers can take several days, while other methods promise instant results.

 

Customer service

FXPIG does not categorize clients by deposit size or other criteria. The broker promises a quick response, respect for all traders. You can contact company representatives using a special form on the website by connecting to Skype. You can send a quick email or via Pig Messenger by clicking on the floating purple widget at the bottom right of your screen. There is no contact phone number.

 

Education

The educational part is the weak link of the company. FXPIG offers a limited number of tutorials that are rarely updated. There is a blog with some useful information, news that will help keep abreast of what is happening in the markets.

 

pros

 

Good trading conditions Fast order execution Competent and efficient technical support PAMM accounts

 

Minuses

 

The broker serves trading accounts opened for an amount of at least $ 500 Regulation and educational part could be better The overall impression of visiting the site remains negative, it is difficult to take a broker with such a name seriously

 

Reviews

Despite the rather ambiguous name for a Forex broker and all the pun on the website, FXPIG is popular with traders. There are positive reviews on the network, customers are satisfied with the trading conditions, service. There are also those who appreciate their sense of humor. There are also negative comments. According to some players, the broker is just hiding behind "transparency", but in fact is playing a dishonest game. In general, there are not many comments on the net about FXPIG.

 

The broker we are considering cannot suit all traders without exception. Yet it is more tailored for experienced players.

 

 

FXPIG is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker FXPIG makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of FXPIG ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about FXPIG on the website 4ex.review ?

    In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.

  • 3. Can we assume the broker FXPIG decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. FXPIG received a score of 1 of 5 on our resource.

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