Forex Germany

Forex Broker - FXPIG

FXPIG is a Forex broker, founded in 2010 by a group of experienced market players. FXPIG focuses on the provision of a technologically efficient market access and all related support facilities. In 2016 the headquarter was moved from New Zealand to the Pacific island nation Vanuatu.

Type

DMA/ECN Broker

Financial market supervision

Prime Intermarket Group Asia Pacific Ltd (FXPIG) is supervised by the Vanuatu Financial Services Commission (VFSC), the independently acting supervising authority of Vanuatu.

Protection of deposits

FXPIG is a member of The Financial Commission, an independent and impartial dispute resolution committee that provides up to USD 20,000 compensation per client on a by case basis.

However, it should be noted that this is a private organisation that cannot be compared to a government-backed compensation scheme that would also compensate losses after a broker insolvency.

Segregation of clients' funds

By its own accounts, FXPIG keeps clients' funds on separate accounts, thus ensuring that creditors do not have access to client's deposits in case of a bankruptcy. Partial amounts used as a margin at the time of the bankruptcy are not subject to this regulation.

Customer support

Customer support is available in English, French, Spanish and Serbian-Croatian. Enquiries are answered swiftly.

Account opening

For the opening of an account, FXPIG requires a proof of identity (personal ID or passport) and a proof of address (account or credit card statement, utility bill). Documents can be scanned in and uploaded when opening the account. Additionally, a customer account agreement has to be signed, and in case of investments using managed accounts a signed limited power of attorney is required. The account opening can be completed within one hour depending on the time zone.

Deposits on a customer account can be made by bank transfer (2-3 business days) or by credit card (via Moneybookers, online, within a few hours). Pay-outs can be made by bank transfer to the customer's account or via Moneybookers; pay-outs to third parties are not permitted.

Liquidity provider

FXPIG offers different price feeds to allow clients to customise the liquidity to the trading strategy. SPA (Single Point Aggregation) accounts provide a feed that is pre-aggregated out of the liquidity of more than 16 banks leading to tight spreads combined with high top of the book liquidity.

The MPA (Multiple Point Aggregation) price feed on the other hand is combines the prices of different ECN networks, prime brokers, banks and market makers. MPA accounts therefore provide a deeper and more stable liquidity even for larger orders while SPA accounts - thanks to the pre-aggregated price feed - offer faster order execution and better spreads.

Next to these price feeds FXPIG also provides customised feeds that are available upon request.

Server location

The trading servers are located in London.

Server time

Summer time: GMT+3
Winter time: GMT+2

Account parameters

SPA Account MPA Account
Spreads: variable, starting from 0.0 pips variable, starting from 0.0 pips
Currency pairs: 70, gold, silver 69, gold, silver, CFDs
Decimal places: five, accuracy 0.1 pips five, accuracy 0.1 pips
Leverage: variable, max. 1:400 variable, max. 1:400
Minimum deposit: USD 500 USD 500
Minimum contract size: 0.01 lot 0.01 lot
Account currencies: AUD, EUR, GBP, JPY, USD AUD, EUR, GBP, JPY, USD
Commission: USD 5.00 per 100k USD traded (round-turn) USD 5.00 per 100k USD traded (round-turn)

Comment

FXPIG provides access to a range of managed accounts. The minimum investment is usually USD 2,000.

Link

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Deutsch / English

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