The other day, FxPro announced a considerable spread cut for major currency pairs including GBP/USD, USD/JPY, EUR/GBP and EUR/USD. According to the company, such an opportunity emerged as the result of much higher trading volume generated by FxPro clients. The thing is that most of the company’s clients are successful traders which means their trading capital keeps on expanding and allowing them to trade bigger lots and contribute to FxPro’s overall trading volume. On top of that, this is not the only good news for FxPro clients. The thing is that the broker offers unique trading conditions for those who trade stocks, oil and other assets.
Win-Win Cooperation
These days you can find a lot of FX brokers promising excellent trading conditions across the web. All of that is done to attract more of the new clients. Why does FxPro stand out from the crowd? FxPro representatives say that their major competitive edge over the rest of FX brokers out there is that there is no conflict of interest between FxPro and the client. By the way, this is one of the most burning problems in the industry.
FxPro reminds you about market and non-market risks. This is especially important for those who open trading accounts with disreputable FX brokers while being seduced by big promises like zero spreads, tons of assets, big deposit bonuses etc. While some of those companies are fair brokers, most of them aren’t. All they do is make new unsuspecting clients deposit funds in order to help them lose their money by all means. Indeed, sometimes the Forex reality bites.
Cutting spreads or introducing new assets is not a sign of an FX scam. Still, this is a considerable step, which requires a lot of work and expertise in the business. No minor broker can afford it the way it should be.
The thing is that when a minor broker lacking liquidity and turnover tries to outpace the industry’s heavyweight right off the bat, it should look suspicious to a potential client. Moreover, under such circumstances, there is always a conflict of interests. The thing is that the spread is the major source of income for a reputable FX broker. If a minor company sets he spread at zero or close to it, where does the company’s income come from? Maybe in such case, it is all about making money from helping their clients lose their trading capital? In order to do just that, such FX scams has a lot of trump cards up their sleeves. More often than not, it is about increasing their market and non-market risks – more frequent slippage and non-market quotes, unfair margin requirements and many other dirty tricks.
No major broker is going to behave this way. Such brokers have been building their businesses and their reputation for years and therefore they value their businesses, image and clients. When you want to stay afloat and flourish in the long run, you just have to go client-oriented and create win-win conditions. The more successful the client is, the more money he starts investing in trading at some point in the future since the capital is growing. With that said, the more money the trader invests, the bigger spread he pays in absolute (dollar) terms. Apparently, this is beneficial to the company. That is why a truly reputable broker is always interested in the client's long-term success. FxPro is one of them.
As you probably know, FxPro has been a major FX player for years. If you want to test the company’s image, it is not that difficult to do. Just consider a handful of criteria:
- Major licenses
- Years of expertise
- Client feedback
- Liquidity providers
- Safety of client funds
- Insurance against non-market risks
- Prestigious awards
On top of that, you can also try to find out whether the broker sends your orders to the interbank market.
The answers for FxPro are always positive with all of the factors stated above. This leads us to believe that the company can cut the spread without having to sacrifice its stability arising from the financial side of the business. With FxPro you can be sure that your FX trading activities are tailored to your needs and plans! If you want more details, you can always check them by visiting FxPro’s official website - http://www.fxpro.co.uk/
Good trading!
