Score

1.57 /10
Danger

FXPG

United Kingdom

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Comparison

Quantity 3

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.44

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

FXPG

Company Abbreviation

FXPG

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-12-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
Expose
FXPG · Company summary

Note: FXPG's official website: http://www.fx-pg.com is currently inaccessible normally.

FXPG Information

FXPG is an unregulated brokerage company registered in the United Kingdom.

Is FXPG Legit?

Is FXPG Legit?

After a Whois query, we found that this company's domain name is for sale, which shows that this company has not registered it securely.

Downsides of FXPG

  • Inaccessible Office Website

Traders cannot access FXPGs official website, which makes FXPG unreliable.

  • Lack of Transparency

Since FXPG does not explain more transaction information, especially in terms of fees and services, this will bring huge risks and reduce transaction security.

  • Regulatory Concerns

FXPG is not regulated by other institutions, which increases the possibility of fraud.

Negative FXPG Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Traders must review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

Negative FXPG Reviews on WikiFX

As of now, there are three pieces of FXPG exposure in total.

Some traders regard FXPG as a dealing desk scam platform because of its unprofessional services and unregulated status. Relevant information is as follows: https://www.wikifx.com/en/comments/detail/208113919305720.html

Conclusion

Trading with FXPG will be exposed to the risk of property damage. It is advisable to choose regulated brokers with transparent operationsto ensure the safety of your investments and compliance with legal standards. When selecting a trading platform, prioritize those supervised by recognized regulatory bodies for enhanced security and peace of mind.

User Reviews

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User comment

2

Comments

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Benjamin Young
more than one year
On trading costs and options - they were complicated, like untangling a pair of earbuds. If puzzles float your boat, by all means.
On trading costs and options - they were complicated, like untangling a pair of earbuds. If puzzles float your boat, by all means.
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2023-10-11 09:51
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Lucas Jackson
more than one year
On multiple occasions, my orders would slip by insane amounts, way more than is normal in the forex market. For example, I placed a market order to buy EURUSD when it was trading at 1.1000. But the order didn't fill until 1.1050! A huge 50 pip slippage on one trade. Based on my detailed logs, I calculated that over 100 trades on FXPG's platform, my average slippage was 15 pips. That destroys profitability. On other brokers I usually see 1-2 pips slippage on average. The high slippage appears intentional too. FXPG seems to widen spreads dramatically around news events and periods of high volatility. While competitors take precautions to reduce slippage, FXPG does the opposite to give themselves a bigger margin. For me, the excessive slippage made trading with FXPG impossible. In total, it cost me over $5000 in lost profits over just 3 months of trading. I strongly advise avoiding this broker if slippage larger than 10 pips will seriously affect your strategies like it did mine. Those tempting low spreads don't reveal the true trading costs.
On multiple occasions, my orders would slip by insane amounts, way more than is normal in the forex market. For example, I placed a market order to buy EURUSD when it was trading at 1.1000. But the order didn't fill until 1.1050! A huge 50 pip slippage on one trade. Based on my detailed logs, I calculated that over 100 trades on FXPG's platform, my average slippage was 15 pips. That destroys profitability. On other brokers I usually see 1-2 pips slippage on average. The high slippage appears intentional too. FXPG seems to widen spreads dramatically around news events and periods of high volatility. While competitors take precautions to reduce slippage, FXPG does the opposite to give themselves a bigger margin. For me, the excessive slippage made trading with FXPG impossible. In total, it cost me over $5000 in lost profits over just 3 months of trading. I strongly advise avoiding this broker if slippage larger than 10 pips will seriously affect your strategies like it did mine. Those tempting low spreads don't reveal the true trading costs.
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2023-10-10 17:06
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