FxPig Review

FXPIG is a multi-asset FX and CFD broker that offers institutional-level STP pricing for its clients, pooled from more than 20 bank and non-bank liquidity providers to ensure that executions are fast and do not come with any requotes or lags. FXPIG commenced operations in 2011 and is currently registered in two jurisdictions.

I. Background and Company Overview of FXPIG

Due to its Straight Through Processing style of price aggregation from multiple liquidity providers, FXPIG offers its clients non-dealing desk execution. This gives room for trade operations not just with the conventional platforms, but also with a FIX API.

Some of the features of FXPIG's operations that are generating serious interest among retail traders are:

• Opportunity to trade EU and US stocks.
• No trading restrictions that allow for use of EAs and FX API.
• Raw spreads on the Raw+ account varieties which offers the opportunity of trading with spreads as tight as 0.0 pips.

II. Trading Platforms and Tools

What trading platforms and tools are found on the FXPIG portal

• MT4
• MT5
• cTrader
• FIX API

The MT4 is available to all account holders on FXPIG. Featuring 38+ indicators, 9 time frames, four types of pending orders and non-detachable charts, FXPIG does not offer the MT4 Webtrader; you will only find the desktop and mobile versions of this software.

The MT5 on FXPIG is also available to all account holders. The MT5 platform offering of FXPIG is unique because there are two different price feeds across the two account variations of each account type. This feature offers more trading opportunities, access to a wider asset index than most MT5 platforms and STP style of execution. The MT5's servers are located in the Equinix LD4 data centre in London, UK. The MT5 presents 80 indicators, 31 charting tools and tup to 6 pending order types with 21 time frames.

The cTrader platform comes in mobile, desktop and web versions. There is also the copy trading portal (cTrader Copy) and the algorithmic trading interface (cAutomate, formerly known as cAlgo). Previously known as cMirror, the cTrader Copy platform offers flexible but passive investment where traders can become Strategy Providers or Trade Copiers. With servers located in the LD4 Equinix Data Centre, cTrader Copy allows microlot trades across more than 300 products in 10 asset classes.

The Financial Information Exchange Application Programming Interface (FIX API) is a protocol based on the electronic communications network (ECN) for the exchange of financial information. This financial information as far as FX and CFD trading is concerned, is centred around order information. FXPIG offers its FIX 4.4 API Protocols for download.

Here are some of the tools presented by FXPIG to enhance the trading performance of its clients.

• The Alarm Manager provides audible notifications on changes in price, attainment of specific price levels, release of a news event or a margin call event.
• The Tick Chart trader allows quick entry and exits using five tick chart themes.
• A Sentiment Trader provides information as a visual display about the percentage of traders with open positions on the buy or sell side of the trade.
• A Mini Terminal is available to perform a variety of trade functions without having to open the full terminal window.

III. Account Types and Spreads

Account types on FXPIG include:

• Standard account
• Premier account
• Pro account
• FIX API account

The Standard account is the flagship account on FXPIG and comes with a $200 minimum deposit requirement. The account has two variations: the Raw+ commission-based account, and the All-in Standard account. The key difference between both account types is that the Raw+ account comes with minimum spreads of 0.0 pips and trades are charged commissions of $4 per standard lot on each side of the trade. The All-in Standard account is commission-free, with spreads starting from 0.9 pips. All other parameters are the same. In addition to the MT4, MT5 and cTrader platforms, holders can use the FIX API to handle their trade requests. Stocks and crypto trades attract 0.35% commission for both variations.

The Premiere account comes with a $5000 minimum deposit requirement. This account type can only be used on the MT4, MT5 and cTrader. The Raw+ Premiere account comes with commissions of $3 per standard lot on each side of the trade, with spreads starting from 0.0 pips. The All-in Premiere account is commission-free and spreads start from 0.7 pips. Stocks and crypto trades attract 0.30% commission for both account variations.

The Pro account is an elite account which is purely commission-based. Holders pay commissions of $2 per standard lot on each side of the trade, while accessing spreads that can be as low as 0.0 pips. Single stock and crypto trades come with commissions of 0.25% of the invested amount. The minimum deposit requirement on this account is $50,000, and holders can use the MT4, MT5 and cTrader on this account.

The FIX API account comes with a $5000 minimum deposit, spreads as low as 0.0 pips and commissions of $4 per standard lot on each turn for FX pairs, index CFDs, metals and commodities. Single stock and crypto trades are charged at 0.2% of invested amount.

IV. Contract Specifications

Here is a look at the contract specifications on FXPIG.

• Index CFD trades attract no commissions except on the FIX API account where a commission of $4 per standard lot on each turn is charged.
• The maximum leverage for FX pairs, commodities, index CFDs and energy assets on all accounts is set to 1:500.
• Maximum leverage of stock CFDs and crypto CFD trades is pegged at 1:10.
• Minimum order size is 0.01 lots.
• The use of scalping methods and expert advisors is allowed.
• Accounts can be denominated in six fiat currencies (USD, EUR, GBP, CAD, AUD, JPY).
• The minimum stop distance is set to 0.

V. Security and Regulation

The FXPIG brand is owned and operated by Prime Intermarket Group Asia Pacific Ltd (offshore brand in Vanuatu) and Prime Intermarket Group Eurasia Ltd (Georgia HQ).

In Vanuatu, the FXPIG brand is authorized and regulated by the Vanuatu Financial Services Commission with license number 14578. There is no information as to the company's regulatory status in its parent country, Georgia.

Residents of the US, Canada, New Zealand, Israel, North Korea and Iran are among countries whose citizens/residents are prohibited by either local regulatory restrictions or international sanctions from operating trading accounts with FXPIG.

VI. Customer Support and Education

Contact channels for customer support on FXPIG include the following:

• Live chat
• Twitter: twitter.com/FXPIG
• Facebook: facebook.com/FXPIG
• Email: support@fxpig.com
• Skype: chat.fxpig

Conclusion

If trading under STP market conditions using the MT4, MT5, cTrader or the FIX API protocol is something you would love to do, FXPIG is a broker you would strongly consider working with.