FXPIG review and test – A good ECN broker or not?
When it comes to investing your hard-earned money, make it a habit to trust only the most reputable online brokers. Thanks to FXPIG, finding a versatile and personalized online brokerage is made easy. With its clients at the centre of the FXPIG vision, FXPIG has been a reliable trading platform for over 10 years.
For the past 9 years of reviewing online brokers, and we’re here to share all we know about handling financial markets. Get ready to seal the deal as we introduce you to the best trading brokers backed by exceptional investment services. In this article, we’ll dive deep into the trading conditions that FXPIG features, from its vision, platforms, costs, assets, and regulations.
Don’t let your choice of a reliable online broker hold you back. Give your assets the special care they deserve by researching online brokerages that will give you a rewarding trading experience.
Getting to know FXPIG
FXPIG has made a name for itself among institutional and retail investors for its uniquely customizable and interactive trading solutions. Trading as FXPIG, the Prime Intermarket Group Asia Pacific LTD was established in Auckland, New Zealand, in 2010. After about 7 years in the business, FXPIG officially moved to their current address in Vanuatu.
In 2016, FXPIG acquired a license with VFSC, or the Vanuatu Financial Services Commission. In its effort to uphold its company vision and standards, FXPIG has become a member of the Financial Commission in Hong Kong only a year after.
With over 11 years in the financial market, FXPIG has been true to its brand vision of offering transparency and client-centred services. FXPIG simply wanted to create a platform that set its clients up for success. sFXPIG is renowned for being a uniquely light-hearted, fun, and interactive online trading platform.
We present an STP or Straight Through Processing forex broker that obviously puts clients at the centre. Unlike most online brokers that profit from client losses, FXPIG doesn’t go against its clients and never counterparties trades.
FXPIG provides powerful MTF and cTrader platforms as well as a FIX API solution. Users can open an account with a minimum deposit of 200 USD with leverage up to 1:500. Trade up to 80+ currencies and stocks, as well as more than of the most popular cryptos.
We admire FXPIG for their unparalleled broker transparency, which you can decipher right away from their company website. Clients will find that FXPIG continuously updates their financial statistics on their website every half hour at that! These charts and statistics are based on 24-hour data. Easily find the average execution time and slippage on their website. With FXPIG, every client is in on the secrets of the financial market.
FXPIG ensures that all client trade is directly passed on to aggregated liquidity providers. This means that FXPIG does not create its own market in-house – 100% of client trade gets into the transactional FX marketplace. Clients don’t need to worry about requesting a FIX trade log. Simply ask for help at FXPIG, and they’ll help you understand everything you want to know about your trades. Rest assured that FXPIG responsibly handles its online platform to have compliance audits, accounting, and insurance.
Facts about FXPIG:
- PIG stands for Premier Interchange Gateway
- Prime Intermarket Group Asia Pacific Limited
- Founded in Auckland, New Zealand, in 2010 by Kevin Murcko
- Granted License for dealing in securities given by Vanuatu Minister of Finance and Economic Development
- Licensed under Vanuatu Financial Services CommissionMember of Hong Kong Financial Commission in 2017
- STP forex broker
- 200 USD minimum deposit with 1:500 leverage
- cTrader, MT4, FIX API, Web & Mobile platforms
- Minimum lot size: 0.01, spread starts at 0 pips
- Commission: from 5 USD
FXPIG regulation and licensing
While having so many trading platforms to choose from may seem like a great opportunity, finding a trustworthy online broker can get overwhelming. Before you invest your assets, remember to thoroughly review regulations and licensing. Brokers need to meet specific regulations to obtain and keep their License.
All licensed financial trading platforms are required by regulating institutions to strictly follow capital requirements. There is also a need to strictly watch out for risk management, staff training, auditing, and financial compliance. Since 2016, FXPIG has maintained its business’s integrity through its Principal’s License for Dealing in Securities by the Vanuatu Financial Services Commission.
While it’s true that Vanuatu is a popular hub for unregulated and offshore brokers, it has already put into place standards on financial audits. This also includes a detailed internal activity report to monitor FXPIG licensed members. To further the credibility and quality of service, FXPIG signed as a member of the Financial Commission in Hong Kong. FXPIG ensures that all client funds are kept in separate accounts with a potential for 20,000 USD compensation fund by the Financial Commission.
Regardless of the licenses to its name, FXPIG has continuously maintained strict compliance with internal and external standards.
Review of financial security
FXPIG offers a variety of secure platforms such as MT4, cTrader, WebTrader, and Final API. With MT4, users are assured of security with their 128-bit SSL encryption and two-factor authentication. cTrader provides clients with security through their comprehensive cTrader ID (cTID) credentials at different platforms.
Moreover, clients can trust that all deposit and withdrawal transactions involving your FXPIG make use of stable and secure funding methods via Tier-One Banks. Clients who sign up with FXPIG can rest assured that all their funds stay securely in a bank under their licensing agreements.
Keep in mind that all forms of trading may cause inevitable loss of money and investments – this can be due to a lack of market research or simply failing to use the right platform. Before signing up as a trader, make sure to read about capital risk because of market volatility. Now, let’s begin discussing about the trading conditions of FXPIG to help find out if it is the best online broker for you.
FXPIG trading conditions- What can the broker offer?
FXPIG provides its clients from nearly 100 countries with enough chances to grow their assets and profiles. Find a true STP broker with FXPIG. The broker provides InstitutionalStraight Through Processing aggregated from more than twenty bank and non-bank LPs. This is to assure clients of the highest quality trading operations with no delays and zero restrictions.
FXPIG’s offers a wide selection of currency pairs, indices, commodities, and share CFDs to clients in Australia, Canada, China, Germany, and Russia. Clients can trade over 80+ stocks, 80+ forex pairs, 10+ cryptocurrencies, 12 index CFDs, and precious metals with zero restrictions through MT4, cTrader, or FIX API platforms. Clients can trade across multiple markets with up to 1:500 leverage.
FXPIG ensures that all its clients are up-to-date on the latest market research and strategies thanks to its comprehensive Education page brimming with articles, videos, and blogs on the financial market. Novice and veteran investors can also access a Market Analysis page to keep ahead in the game. FXPig also offers reliable access to professional financial advice with their customer service support through call, live chat, and email 24/5.
FXPig aims to create transparent and client-centred trading conditions that reflect true market conditions. This is to ensure that all clients are set up for success.
FXPIG has gained both local and worldwide recognition for its distinctive and unique approach to the financial market. To this day, FXPIG remains one of the most respected and highly-rated online trading platforms. Moreover, clients are given access to FXPIG’s award-winning liquidity through its reliable platforms.
FXPIG offers versatile and customizable solutions for all types of investors. Opening an account with FXPIG means you get an account that is well-suited to your profile and financial needs.
FXPIG offers three price feeds to choose from via its MT4, cTRrader, and FIX API platforms: Single Point Aggregation (SPA), Multiple Point Aggregation (MPA), or a Customized account. All accounts are 100% STP and provide access to over 250+ products with no trading restrictions.
The difference between the SPA and MPA feeds are in the liquidity aggregation pool.
SPA takes its liquidity from both bank and non-bank market makers, making it a great option for clients looking for fast operations, consistent pricing, heightened tick values, and tighter spreads at 0.3 pips. SPA accounts also protect against double-tapping. It also has no dealing desk and 0 margin hedge trading. Traders can open a SPA account at a minimum of 500 USD.
MPA accounts take liquidity from ECNs and non-bank market makers. FXPIG MPA accounts are a hybrid of Multiple Trading Facilities and the Electronics Communication Network. According to FXPIG, this provides clients with an opportunity to take advantage of multilateral matching and multiple aggregations in ECN simultaneously. Clients who get MPA accounts get direct access to the forex market to have direct trades. MPA spreads increases access to the liquidity pool, and it also off increased trader anonymity.
A customized account provides venue-specific liquidity and access to alternative pools that are built on non-bank flow.
FXPIG currently offers all these options through their live accounts with the option to go for Raw + Commission or All-in: Standard, Premiere, and Pro. The first two are available on all platforms, while the Pro account is only available on MT4 and cTrader. All options provide access to over 250 tradable products with 100% STP execution and no restrictions. All accounts also feature spreads from 0.1 and maximum leverage of 500:1.
All FXPIG clients have direct access to a Portal that provides full information on deposits, withdrawals, commissions, profits and losses, and other statistics. Clients can also request custom statements from FXPIG, with the option to view these online or in downloadable PDF documents.
To further transparency, FXPIG also tracks the Master Account through a tracking website. Clients who wish to keep their track record hidden can easily detach their account from this option.
FXPIG Standard account requires a minimum dep. of 200 USD. Commissions come at 4 USD per plot per side. Crypto and Stock commissions are at 0.35%.
The Premiere account requires 5,000 USD for a minimum deposit. Commissions are at 3 USD per lot per side, while single stock and crypto commissions are at 0.30%.
The client can open a pro account at a minimum deposit of 50,000 USD. FX commissions are at 2 USD per lot per side, while single stock and crypto commissions are at 0.25%.
Fees and costs
FXPIG allows deposits through a variety of methods: Bank Transfer, Uphold, Skrill, Neteller, and Debit/Credit Card. Each deposit method warrants a deposit fee and a minimum deposit of 500 USD. Almost all payment options offer instant processing and are allocated to the Master Account eWallet.
Withdrawals are also available through several trusted methods: Bank Transfer, Uphold, Skrill, Neteller, EURO SEPA, Worldwide SWIFT, and Debit/Credit Card at varying fees. Clients can also choose to get their own PIGcard that offers the benefit of low-cost and instant withdrawals from their eWallet. All withdrawal methods are available 24/7.
Review of Spreads and Commissions
FXPIG makes sure to offer competitive spreads. This online broker truly strives to make their platform user-friendly, as can be seen on their real-time spread monitor. Most of the spreads were able to stay low from 0.3 to 3 pips. This ensures that all trading costs will remain low.
Commissions on FXPig will depend on the type of account and platform. 25 per million commission is applied with the MT4 platform, while it goes up to 30 per million on cTrader.
FXPIG determines leverage depending on the current account balance, not the account type. Leverages can go up to 1:500 in some cases, but the stop out level will reach 100% compared to the normal 50%.
- Less than 1,000 – 1:100
- More than 1,000 – 1:200
- Maximum at 1:500 for special cases
Education and Trading Tools
With its clients at the centre of its vision, it’s obvious that FXPIG made an exceptional effort to set up a highly dedicated Education page on its website. Browse through highly informative articles, videos, and blogs that are meant to help their clients grow.
Unlike other online brokers, you’ll find that the educational tools and materials under FXPIG are fun and engaging. The same goes for their website. FXPIG provides a wide range of research tools such as FXPIG Company News and FX Market Analysis to keep their clients on top of the game. Rest assured that all materials are kept up-to-date with the latest news, charts, and marketing strategies.
Test of the FXPIG trading platforms
FXPIG features three trading platforms: MetaTrader4, cTrader Webtrader, and FIX API. Choose between these three trading platforms to cater to your specific financial needs and preferences. The first two options are available on iOS and Android for additional versatility.
MT4 is arguably one of the most reputable trading platforms in the forex industry. Millions of traders worldwide depend on MT4 for its fast execution, user-friendly interface, and wide selection of trading tools. The MT4 is definitely the complete package, and FXPIG claims to have made the platform even better.
While newer than MT4, cTrader is undoubtedly the more advanced platform. It’s considered to be one of the best trading platforms globally. This web-based platform is suitable for both new and professional traders – clients are provided full STP access to four pricing feeds. Dealing desk isn’t possible with cTrader. This altogether levels off the playing field with traders.
FXPIG offers FIX 4.4 with no minimum monthly brokerage costs or minimum monthly requirement. This platform allows users to directly connect with their liquidity provider via the FIX API connection. This will mean much faster execution times. All professional traders know that every second count when it comes to making investments.
In addition to these three options, FXPIG also offers several options for PAMM accounts that cater to different trading styles and preferences. This makes FXPIG one of the most versatile online brokerages.
Review of Tradable Products
With over 250 tradable products and customizable accounts, FXPIG clients can find unparalleled opportunities on its trading platforms. FXPIG offers a wide selection of tradable instruments covering asset classes. These include 80 forex currencies, 12 stock index CFDs, 10 cryptocurrencies, precious metals, and oils/energies.
The customer service team at FXPIG know the importance of reaching out to their valuable clients. Traders can opt to contact their team via email, call, Skype, and live chat 24/5.
The live chat feature at FXPIG is available through a widget on their website. Responses are as fast as half an hour or less, so you can rest assured that all inquiries are addressed in no time. Customer support is available in English via these contact methods.
A convenient FAQ section is also available for your perusal. Clients looking for immediate assistance can rely on the support team at FXPIG.
Choosing to Trade with FXPIG
Now that we’ve reviewed FXPIG, have you decided to try out this reliable online broker? Let’s review the most important factors to consider when looking for the right trading platform for you:
Founded in 2010 by Kevin Murcko, FXPIG has been providing quality online broker services for 10 years. Since then, FXPIG has gained international recognition for its top-notch services that strictly comply with licensing and trading regulations under the Vanuatu Financial Services Commission and the Hong Kong Financial Commission in 2017.
If you’re looking for versatile and customizable access to the global financial market, FXPIG can provide you with secure, interactive, and reliable financial services. For a premium web-based online broker and a wide selection of tradable assets, start your account at FXPIG!
Guide for trading on FXPIG
Choose to open a Demo account
If we’ve successfully opened your heart to FXPIG, go on and open a demo account to try their services. Opening a demo account with FX is simple, with just a few simple steps!
New clients can open as many FXPIG demo accounts as they want! With this, you can have enough practice trading on the different platforms available with FXPIG. Hone your trading skills until you’ve gained enough skills to work with real funds.
Choose to open live account
New traders will be excited to hear that signing up with FXPIG is straightforward and simple through their website. Make sure that FXPIG is available in your country. Since the FXPIG is regulated by VFSC and the Hong Kong Financial Commission, new clients must strictly comply with standards to fully familiarize themselves with the risks of trading in the financial market.
The application form will ask for personal details like your email address along with an account password. From there, FXPIG will ask you to complete the Profile Wizard with the necessary information. Once you’ve completed the necessary information and documents, clients can enter the FXPIG portal and go live with their account.
Since this online broker is licensed and regulated, remember that FXPIG will carefully review your documents for security and verification. This will take a number of days, depending on the complications of a particular case and account. Just in case, make sure to prepare a government identification card and a utility bill or bank statement that shows your current residence. Make sure that these documents were issued in the past three months.
Conclusion: Should I invest with FXPIG? – We think, Yes!
FXPIG has provided over 10 years of exceptional online brokerage services. FXPIG strictly complies with regulation and licensing standards to offer the best quality service to its clients. With FXPIG’s focus on clients, trading has never been so versatile and user friendly. FXPIG offers over 250 tradable assets across the best trading platforms in the world. Users can know that they’ll find a fitting solution with FXPIG.
FXPIG also puts great emphasis on providing educational tools to keep its clients at the top of the game. Newbie and veteran traders alike can exponentially grow their wealth and knowledge of the financial market with FXPIG.
Should clients need any financial advice or assistance, the FXPIG customer service team is ready to offer their expert knowledge through live chat, email, or phone call.
- Licensed and regulated by a renowned firm
- Available in over 100 countries
- Flexible trading solutions
- Wide selection of trading platforms and account types
- Reliable customer service
- Unparalleled transparency and account conditions
- Interface and trading conditions may be confusing to new users
- Expensive deposit fees
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