FXPIG Review 2022
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FXPIG is a straight-talking forex, indices & commodities broker offering tight spreads.
FXPIG is a direct access forex broker offering MT4, cTrader, and FIX API. This review will cover regulation, commissions, PAMM accounts, and more. Find out if you should login and start trading with FXPIG.
FXPIG Company Details
Prime Intermarket Group Asia Pacific Ltd, trading as FXPIG, was founded in New Zealand in 2010 and holds a license with the Vanuatu Financial Services Commission (VFSC).
Opting for a distinctive, light-hearted brand, FXPIG provides a fun and interactive trading experience for its users.
Trading Platforms
MetaTrader 4
MetaTrader 4 (MT4) offers a full package of trading tools and FXPIG claim they’ve made the platform even better, with features including:
- Level II market depth data
- Hedging allowed on all feeds
- Unlimited open orders at any one time
- Real STP features with no B-book or dealer plugins
- No proximity restrictions when placing entry or exit orders
- API can be setup in 5 mins
MT4 is compatible with Windows PCs and can be downloaded from the broker’s website.
cTrader WebTrader
cTrader is a newer but arguably more advanced platform, suitable for all levels of traders. It’s a web-based platform, so users can trade anywhere with an internet connection.
Features include:
- Direct chart trading
- Native Fix 4.4 accessibility
- Smart stop out capabilities
- Visual deal mapping on charts
- Asynchronous order processing
- Auto move to breakeven & trailing stops
FIX API
FXPIG offers FIX 4.4 to all clients with no minimum volume requirements or minimum monthly brokerage costs. FIX API is different from MT4 and cTrader in that you trade directly over the FIX API connection, resulting in quicker order execution times. FIX API is ideal for experienced traders and is accessible from the account area.
Markets
FXPIG is a multi-asset broker which offers forex, single stocks, indices CFDs, metals, cryptocurrencies CFDs and energies.
- Stocks 80+
- Forex 80+
- Indices 10+
- Metals 10+
- Crypto 10+ Including Dogecoin
Spreads & Commissions
Spreads on major forex pairs start at 0.2 pips for the EUR/USD, around 0.9 for the GBP/USD, and 0.6 for the EUR/GBP. This is competitive and makes the broker an attractive proposition if you’re looking to keep trading costs down.
Commissions are charged depending on the account type. The commissions are same across Mt4 and cTrader.
Raw+Commissions Account Type
Standard: $4 per lot per side on FX, metals, commodities, 0.35% on stocks, cryptos, 0 fees for Indices CFDs
Premiere: $3 per lot per side on FX, metals, commodities, 0.30% on stocks, cryptos, 0 fees for Indices CFDs
Pro: $2 per lot per side on FX, metals, commodities, 0.25% on stocks, cryptos, 0 fees for Indices CFDs
All-In Account Type
Standard: 0 commission on FX, metals, commodities, 0.35% on stocks, cryptos, 0 fees for Indices CFDs
Premiere: 0 commission on FX, metals, commodities, 0.30% on stocks, cryptos, 0 fees for Indices CFDs
Leverage
FXPIG offers up to 500:1 leverage for FX majors and minors, gold and silver. Maximum leverage offered for exotic FX pairs is 100:1. Leverage for single stocks and cryptos are 20:1 and 10:1 respectively. Indices CFDs have leverage up to 100:1 while crude oil has leverage of 200:1. The margin call is 100% and the stop out level is 50%.
Mobile Apps
FXPIG offers MT4 and cTrader platforms as mobile apps. Both are available for download to iOS or Android devices. Users can also find QR codes for the cTrader mobile platform from the broker’s website.
Clients can stay connected to the platform while on the go and benefit from many of the same features available on the desktop and web trader versions.
Payment Methods
Minimum deposit: $200
Deposit methods:
- Bank wire
- Visa credit card
- Skrill
- Neteller
- Bitcoin
- Uphold
Withdrawal methods:
- Bank wire
- Visa credit card
- Skrill
- Neteller
- Bitcoin
- Uphold
Bank charges;
Skrill deposit: 3.5% (Charged by the payment gateway)
Neteller deposit: 3.5% (Charged by the payment gateway)
Bank Wire International: No fee
Withdrawals charges:
- 35 USD for Worldwide Swift Transfer
- 15 EUR for EURO SEPA
- Skrill: 1%
- Neteller: 2%
- Uphold: $15
Demo Account
A demo account is available for those who wish to practice trading before going ahead with a live account. From the client portal, users can choose to open as many demo accounts as they want, on the MT4, FIX API and cTrader platforms.
Deals & Promotions
At the time of writing, FXPIG does not offer any no deposit bonuses or welcome rebate promotions. This may change so check the broker’s website before you create an account.
Regulation & Licensing
FXPIG operates under a license from the Vanuatu Financial Services Commission (VFSC).
Additional Features
FXPIG offers a number of additional features, including an Education page with blogs, articles, and videos, as well as a Market Analysis page to educate both new and seasoned traders. Other trading tools include calculators for stop loss/take profit, margin, SWAP, commissions, and more. Social trading is also available through Myfxbook.
Account Types
There are 3 accounts to choose from and 2 price feeds available.
Feeds
Type of feeds: All-In, Raw+Commissions
Types
Account types;
- Standard
- Premiere
- Pro
The minimum deposit to open a live account at FXPIG is $200 and are available in USD, EUR, GBP, JPY, AUD, CAD. The minimum order size is 0.01 lot and max lot size per click is 100 lots.
FXPIG also offers several PAMM accounts such as D.O.O.R., Volta, ONDA, and FXTitan.
Benefits
There are several reasons to trade with FXPIG:
- Available in over 100 countries, including Canada & China
- MetaTrader 4, cTrader, and FIX API available
- Transparent pricing & account conditions
- Range of payment methods
- Fast customer service
Drawbacks
Reviews also point to several drawbacks of FXPIG:
- No Islamic swap-free accounts
Trading Hours
Forex trading is open 24 hours 5 days a week from 5 pm EST on Sunday until 4 pm EST on Friday. Specific trading hours for indices and commodities vary and can be found on the broker’s website.
Customer Support
FXPIG’s customer support can be reached via:
- Skype – chat.fxpig
- Email – support@fxpig.com
- Online contact form – available from the Contact page
- Live chat – located in the bottom right-hand corner of the website
On testing the live chat service, responses were received within a couple of minutes and support staff were helpful.
User Security
The MetaTrader 4 platform is secured with 128-bit Secure Sockets Layer (SSL) encryption as well as two-factor authentication. cTrader secures client data through cTrader ID (cTID) credentials, which are held at dedicated servers.
FXPIG Verdict
With its unique brand, FXPIG offers something different. Clients benefit from award winning liquidity, tight spreads, helpful customer service, plus the MT4 and cTrader platforms. Overall, if you’re looking for something fun and different, FXPIG could be the right option.
Accepted Countries
FXPIG accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FXPIG from United States, Vanuatu.
Alternatives to FXPIG
If you are looking for alternatives to FXPIG we have compiled a list of the top 5 brokers that are similar to FXPIG below. This list of brokers like FXPIG is in order of similarity and only includes companies that accept traders from your location.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
- IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
- Pocket Option – Pocket Option is a global binary options broker with sleek proprietary trading platform and competitive range of assets.
FAQ
What accounts are available at FXPIG?
Traders can choose from Standard, Premiere and Pro account across ALL-IN Feed or RAW+Commission Feed. In addition, FXPIG offers several PAMM account options that are detailed on the website.
What payment methods are available at FXPIG?
Payment methods offered by FXPIG include bank wires, credit cards, Neteller, Skrill, Bitcoin and Uphold.
What is the commission rate on FXPIG accounts?
Commissions are charged based on account tiers. Raw+Commissions Account Type
Standard: $4 per lot per side on FX, metals, commodities, 0.35% on stocks, cryptos, 0 fees for Indices CFDs
Premiere: $3 per lot per side on FX, metals, commodities, 0.30% on stocks, cryptos, 0 fees for Indices CFDs
Pro: $2 per lot per side on FX, metals, commodities, 0.25% on stocks, cryptos, 0 fees for Indices CFDs
All-In Account Type
Standard: 0 commission on FX, metals, commodities, 0.35% on stocks, cryptos, 0 fees for Indices CFDs
Premiere: 0 commission on FX, metals, commodities, 0.30% on stocks, cryptos, 0 fees for Indices CFDs
Where is FXPIG regulated?
FXPIG operates under a license from the Vanuatu Financial Services Commission (VFSC).
How do I open an account at FXPIG?
1. Create a live account on our website by clicking ‘Open Live Account’ You will be redirected to https://portal.fxpig.com/register to complete a form.
2. You will receive an email to activate your account along with your live trading account details.
3. Once your email is confirmed, you can log in to your account. To complete the application.
4. Once your application is approved, you can fund your account.
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