Wysiwyg
Everyone wants money
- Joined
- 8 August 2006
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Why start? It's not the bells n whistles and brokers and peripheral b.s. Forgive me. I know it is tough being a newbie with little experience.
Can I trade forex without leverage/margin?
- Thread starter Slyme92
- Start date
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- Tags
- forex forex trading leverage margin
Why start? It's not the bells n whistles and brokers and peripheral b.s. Forgive me. I know it is tough being a newbie with little experience.
I have only used FinPro Trading till now and yes, I did withdraw some funds from them a couple of times. I received them without any hassles.
I am yet to use FxPro but I know that even they do provide 5 decimal spread.
- Joined
- 25 February 2011
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Looks like UK company so they don't need it as you are opening in UK jurisdiction as far as I understand. Had a quick look major concern is the bonuses part. http://finprotrading.com/bonus-offerings/
Nothing comes for free in this dirty industry. On the surface a bonus is good but what it's really saying is the house is confident you will lose so they're willing to front you bonuses you to entice you to deposit funds.
Really are they UK regulated?
Have a look at this at the end
I would be worried if a company say sit is HQ in UK and does not have UK regulations oversight !
Hello. How may I help you?
CLIENT
which country are you regulated?
SUZAN
hi there
FinPro Trading is owned and operated by Finvasia Group which is registered with Securities and Exchange Commission of America (Finvasia IARD/CRD Number: 154602 and SEC file number: 801-71707)).
CLIENT
you mean USA or some other north american country?
SUZAN
also we are in process of getting FCA regulations which will turn into reality by early 2017
USA
CLIENT
so you are not UK regulated? but there is a UK HQ address
SUZAN
2:46 pm
yes we are headquartered in UK and also we are in process of getting FCA regulations which will turn into reality by early 2017
I started trading on a Live account now with Finpro trading after using the demo account with them for some time now.
I am really liking their execution speed, it is very fast in my view.
Also quite surprisingly they put me on a special commission structure of $1 per $100k per side.
Yes mjim you are absolutely right. Currently, they are unregulated. I joined with them few months back after seeing the positive talks about this broker services on internet. Initially, I just started with small amount of $500 to check their trading services and I can say this from my experience that you might not find any reasons to complain about their services.
Regarding their regulation, even I also came to know about it few weeks back when my friend opened an account with them. I checked with my account manager at FinPro and he confirmed me that they are in process of getting regulation within next few months so I was ok with that. But frankly saying, I am not concerned about their regulation status as I am quite satisfied with my trading with them. Even my friends and I traded with regulated broker but we had issues in trading with them. Undoubtedly regulation plays a role, but I will give more priority to broker services. If your major concern is regulation then you need to look for some other broker. However, if you are looking for a good ECN broker, you can start with small amount to check their services and credibility.
