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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