What is FXPIG？
FXPIG, with full name Prime Intermarket Group Asia Pacific Limited, is a global brokerage firm based in Georgia and provides traders with access to a wide range of market instruments. These include forex, crypto, energy, metals, global indices and US stocks. Notably, the broker is under VFSC revoked status which should be a risk warning for interested traders about its dependability.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Pros:
FXPIG offers a wide range of trading instruments across multiple asset classes including forex, crypto, energy, metals, global indices, US stocks, providing diverse investment opportunities tailored to various market conditions.
With four account types available, traders can choose options that align with their individual preferences and strategies for optimal performance.
FXPIG's compatibility with the popular MT4/5 trading platforms grants traders access to robust tools and features for efficient trading execution and analysis.
Tight starting spreads starting from 0.0 pips offered by FXPIG enhance cost-effectiveness for traders, enabling them to execute trades at competitive rates and potentially improve overall profitability.
The absence of deposit and withdrawal fees on FXPIG eliminates unnecessary financial burdens for clients, allowing them to manage their funds more efficiently and effectively.
The availability of a demo account on FXPIG enables traders to practice and refine their strategies in a risk-free environment before committing real funds, fostering skill development and confidence.
FXPIG's segregation of client funds ensures an added layer of security and protection, mitigating the risk of loss in the event of unforeseen circumstances.
Zero commissions on FXPIG help reduce trading costs for clients, enabling them to retain a larger portion of their profits and enhance long-term returns.
Cons:
The revocation of VFSC (Vanuatu Financial Services Commission) license raises concerns regarding regulatory compliance and impact the platform's credibility and reliability.
FXPIG's restriction on accepting clients from certain countries such as the U.S., Canada, Israel, New Zealand etc. limits accessibility and market reach, excluding traders from these regions with significant market opportunities.
Reports of scams associated with FXPIG undermine the platform's reputation and trustworthiness, deterring potential clients and damaging existing client relationships.
Is FXPIG Safe or Scam？
When considering the safety of a brokerage like FXPIG or any other platform, it's important to conduct thorough research and consider various factors.
User feedback: There is one scam report on WikiFX that should be taken into consideration as potential red flag. We recommend interested traders to do thorough research of the company before engaging with any broker or investment platform.
Security measures: FXPIG implements security measures to safeguard client interests, including robust privacy and anti-money laundering (AML) policies. Client funds are kept separate from the company's operational funds, ensuring segregation and protection.
Ultimately, the decision of whether or not to trade with FXPIG is a personal one. You should weigh the risks and benefits carefully before making a decision.
Market Instruments
FXPIG offers traders a wealth of opportunities across various asset classes. With over 80 forex currency pairs available, traders can engage in currency trading across major, minor, and exotic pairs, catering to diverse trading strategies and preferences.
Moreover, FXPIG boasts a selection of over 60 cryptocurrencies, providing access to popular digital assets such as Bitcoin, Ethereum, and Ripple, as well as emerging altcoins.
Additionally, traders can explore energy commodities, including Brent Crude Oil and Natural Gas, along with a variety of precious metals such as Gold and Silver.
With a range of over 12 global indices and access to more than 150 stocks, traders have ample options to diversify their portfolios and capitalize on market opportunities across different sectors and regions.
Account Types
FXPIG offers a variety of account types tailored to meet the diverse needs of traders at different experience levels and with varying capital requirements.
The Standard Account, with a minimum deposit of $200, provides an accessible entry point for traders looking to start their journey in the forex market.
For more seasoned traders seeking enhanced features and benefits, the Premiere Account offers a step-up with a minimum deposit of $5000.
Meanwhile, the Pro Account caters to experienced and high-volume traders, requiring a minimum deposit of $50000 and offering advanced trading tools and personalized support.
Moreover, the broker offers FIX API Account with 100% STP execution without minimum volume requirement. Minimum deposit of this account is $5000.
Additionally, FXPIG provides a demo account option, allowing traders to practice their strategies and familiarize themselves with the platform's features before committing real funds. The demo account will expire with 30 days of inactivity.
Available base currency for these accounts are USD, EUR, GBP, CAD, AUD, JPY.
How to Open an Account？
To open an account with FXPIG, you have to follow below steps:
Complete any verification process for security purposes.
Once your account has been approved, you can set up your investment preferences and start trading.
Leverage
FXPIG provides traders with the opportunity to use leverage up to 1:500, which can amplify both potential profits and losses. While higher leverage can enhance trading power, it also increases risk significantly.
Interested traders should be cautious, employ risk management strategies, and fully understand the implications of leveraged trading before using such high leverage levels. It's crucial to ensure that leverage is used wisely and in accordance with one's risk tolerance and trading experience to mitigate the potential for substantial losses.
Spreads & Commissions
At FXPIG, all account types boast competitive spreads starting from 0.0 pips, ensuring traders can access favorable pricing on their trades.
In addition to tight spreads, the Standard Account incurs FX commissions of $4 per lot per side, while Index CFD commissions and Single Stock/cryptocurrency commissions are set at 0.35%, providing cost-effective trading options.
Similarly, the Premiere Account offers reduced FX commissions of $3 per lot per side, along with commission-free trading on Index CFDs and lower commissions on Single Stocks and Cryptocurrencies at 0.3%.
For high-volume traders, the Pro Account features even lower FX commissions of $2 per lot per side, coupled with commission-free trading on Index CFDs and further reduced commissions on Single Stocks and Cryptocurrencies at 0.25%.
Lastly, FX commissions is also $4 per lot per side for FIX API Account, commission-free trading on Index CFDs while further reduced commissions on Single Stocks and Cryptocurrencies to 0.2%.
Trading Platforms
FXPIG offers a robust selection of trading platforms to satisfy the diverse needs of traders across various devices and operating systems.
Traders can access the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms on desktop, Android, and iOS devices, providing seamless trading experiences across multiple devices.
Additionally, FXPIG provides access to cTrader, a powerful trading platform available on desktop, web, iOS, and Android, offering advanced features and functionalities for traders who prefer an alternative to the MetaTrader platforms.
With these versatile trading platforms, traders can execute trades, access real-time market data, and manage their portfolios with ease and convenience, regardless of their preferred device or operating system.
Trading Tools
FXPIG offers a comprehensive suite of trading tools designed to empower traders and enhance their trading experience. From an Economic Calendar providing insights into upcoming economic events to Popular Trading Indicators for technical analysis, traders have access to valuable resources for informed decision-making.
The Correlation Matrix allows traders to identify correlations between various instruments, while the Mini Terminal facilitates efficient order management. Additionally, tools like Session Map, Sentiment Trader, and Alarm Manager provide real-time market data and sentiment analysis to aid in strategy development.
Market Manager offers a centralized view of market conditions, while Tick Chart Trader enables traders to analyze price movements at a granular level.
Moreover, FXPIG provides VPS services, ensuring traders have uninterrupted access to their trading platforms and tools.
These diverse and sophisticated trading tools empower traders to navigate the markets effectively and capitalize on opportunities.
Deposits & Withdrawals
FXPIG provides a diverse selection of fee-free funding methods to accommodate the needs of its traders. Clients can conveniently deposit funds using options such as Bank Wire, Credit Card, Skrill, Neteller, BTC (Bitcoin), and Uphold.
By offering a variety of payment avenues without charging additional fees, FXPIG offers cost-effective transactions for its users, enabling them to fund their accounts with ease and flexibility.
User Exposure on WikiFX
On our website, you can see that one exposure of scam reported by client,which should be marked as red flag. Traders are encouraged to carefully review the available information. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customer Service
FXPIG provides multiple customer service options to assist its clients. Customers can reach out to FXPIG through various channels including email for detailed inquiries, address for personal visit, live chat for immediate support, contact us form for comprehensive question describing, FAQ for answers of general questions and social media including Facebook, Twitter, LinkedIn and Instagram.
Email：support@FXPIG.com.
Headquarter/Registered Address: Lisi Veranda, Phase 3, Building B4, Tbilisi, Georgia, 0159.
Conclusion
According to available information, FXPIG is a non-regulated Georgia-based brokerage firm who is registered in Georgia. It offers a range of market instruments such as Forex, crypto, energy, metals, global indices, US stocks as market instruments to traders. However, it is important to consider certain factors such as its VFSC revoked regulatory status and a report of scams on WikiFX that might raise concerns. It is critical that interested clients be careful when considering to trade with this broker and seek up-to-date information directly from FXPIG before making any investment decisions.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-03-25 14:33
2024-02-05 18:37
