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FXPRO was founded in 2006 and acquired all of North Finance's clients. It is a fully regulated European broker with resident head office in Cyprus regulated by the Cyprus Securities and Exchange Commission
I agree that website looks really weird and messy with tons of useless graphics (what relation do waterfalls and oceans have to forex? lol) and it is really hard to find any useful links there. For example, I even could not find the link to download MT4 in all that mess. However don't be confused because the broker itself is really good
The spreads are bit high comparing to other brokers however their service is on a professional level by all means.
Few things you should note here. They don't offer microlot trading on standard account, so minimal lot increment would be 0.1 here, not 0.01. Also after creating your account they always forget to activate your account so you would get "Ping Lost" errors in Log when trying to trade until you contact them to finally activate your account.
My Mini Interview with FXPRO
Chat Information - You are now chatting with 'Lianna', May i have your FxPro account number please?
Lianna: Hello, How may I assist you?
you: Hello
you: on your salespage you adversise low spread "Spreads from 0.5pips " and I heard from your newsletter the maximum spread is 5 for EURGBP however in reality your spread is not fixed and way higher than 5. I get even 7 ! Could you explain
Lianna: At FxPro we offer floating spreads as low as 0,5-5,0 (the best retail offer in the market) Sometimes this is not possible to establish. Spreads we compose in the system depend on spreads we receive from our counterparties, and when we receive prices with already increased spreads from major liquidity providers in Forex we must increase ours. As a regulated company we always have to provide our clients the most competitive market prices, that is why we are doing our best in this situation.
you: Where are you regulated and when was founded?
Lianna: FxPro.com is proud to say that it is a fully regulated European broker, bringing with it all the benefits and security on offer in today??™s busy marketplace.
Lianna: Owned by EuroOrient Securities and Financial Services Ltd, an investment firm, resident head office in Cyprus regulated by the Cyprus Securities and Exchange Commission (www.cysec.gov.cy ) (license number 078/07). Our company is a member of various professional bodies like CIFSA (Cyprus International Financial Services Association, http://www.cifsa.org/ ), CCCI (Cyprus Chamber of Commerce and Industry, http://www.ccci.org.cy/ ), CFSFA (Cyprus Financial Services Firms Association, http://www.cfsfa.org.cy/ ).
you: When was FXPRO founded? does it have any relation to "northfinance"?
Lianna: The brand name ???FxPro??? and the domain name ???www.FxPro.com??? are owned by
Lianna: EuroOrient Securities and Financial Services Ltd, a financial services company authorized and regulated by the Cyprus Securities and Exchange Commission under the license number 078/07.
Lianna: EuroOrient was registered on 31 July 2006 and received the first license in 05 March 2007.
Lianna: We acquired all of North Finance's clients and trading operations as on June 1st 2008
you: Sounds good. Do you plan to add more liquidity suppliers to decrease the spread conditions?
Lianna: not at this time sir
you: Last question - do you welcome winning EA systems such as fapturbo at fxpro?
Lianna: yes sir, we do allow these
Lianna: However, we do not provide assistance with them
you: what kind of assistance?
Lianna: Expert advisors are of course allowed on our platform, but please make sure that they are set-up correctly to allow for the 5th digit which is one of our advantages using our FxPro Metatrader4 platform. You may be able to set them yourself if possible in the settings, otherwise you will have to seek assistance from the supplier of the advisor who will of course be happy to assist.
you: okay thanks for replies. Good service.
Lianna: thank you sir
Update October 2009
Here is what we received about FxPro: "Please be aware that FXPRO broker is no longer accepting US clients! Due to a new requirement from the us for a
Very large capital requirement."
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