These days every single FX broker seems to be talking about transparency. What exactly do they mean applying transparency to Forex trading? Some of you might think that FX transparency is all about giving away all the secrets and all the trump cards up the broker’s sleeves. In reality, more often than not, FX brokers use this notion just to seem reputable and reliable, which is not the case most of the time.
That is why FxPro, a FX heavyweight and some of the most reputable FX brokers out there, decided to share with us what real FX transparency is…
Nothing to Hide form the Client
As you probably know, there are no ideal systems made by humans. Still, all those Forex brokers that respect themselves tend to do their best to reach it as they strive for it, FxPro experts explain. On the other hand, amid a very competitive FX environment, it is possible to gain clients’ trust only if you are honest with them and tell them about all the pitfalls while helping them to avoid those pitfalls if possible and overcome challenges they face. This is what real transparency is.
These days, when most FX brokers promote themselves, they talk a lot about being transparent, which is not the case more often than not. Most of them exaggerate their achievements. On top of that, their official websites often contain stats and other details that have nothing to do with real trading conditions. For instance, anther rookie coming to trade FX may be impressed with statements about zero re-quotes /slippage. However, any experienced trader is aware of the fact that at times of volatility spikes it is next to impossible to avoid discrepancies in order execution. It should be noted that slippage and re-quotes are some of the biggest problems affecting the efficiency of FX trading a lot.
Therefore, FxPro experts recommend comparing your FX broker’s risk warning and user agreement with those key details published on official websites in order to find out the degree of your broker’s honesty. FxPro decided to publish the stats on slippage and re-quotes to let the trader access the relevant and highly important information on the company’s trading conditions and their real implementation.
Not so long ago, the broker revealed the stats for Q2 2015. In particular, we know that in April – June 2015, FxPro traders saw 44,9% of positive slippage, 20,7% of negative slippage and 34,4% of orders executed at the desired price. He total share of re-quotes is 5,3% - 2,45 positive, 2,9% negative.
As you can see, when trading Forex with FxPro, you do it on the promised trading conditions while enjoying true transparency. At the same time, the stats show that most of the time the broker guarantees perfect execution or executes client orders even at more favorable prices.
Benefits of Trading Forex with FxPro
Reliability and transparency are only some of the multiple benefits of trading Forex with FxPro. The business is based on a flexible agent model, thanks to which traders get access to the industry’s major liquidity providers. At the same time, FxPro never interferes with the client’s trading process and guarantees reliable protection against negative balance sheets.
At the same time, FxPro clients may enjoy all the advantages of multiple innovative solutions the broker keeps coming up with on a regular basis. The speed at which FxPro executes orders excellent and even instant most of the time. 99,9% of client orders are executed within 0,5 sec. There are no limitations on trading strategies while trading is done at market prices. FxPro accepts both retail and institutional clients.
FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration no. 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (license no. 078/07).
The bottom line is that FxPro is a truly excellent choice for all kinds of FX traders and investors seeking true transparency along with excellent trading conditions, reliability, security and innovation.
