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FXPIG Review 2024

Written By

Tobias Robinson

Written By

Tobias Robinson

Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

» Tobias Robinson Profile Page

Fact Checked By

William Berg

Fact Checked By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Updated

Sep 23, 2023

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Overall Rating

2.7 / 5

FXPIG is #107 in our CFD broker rankings.

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Customer Reviews

Minimum Deposit $200

Trading Platforms MT4, cTrader

Instruments Forex, Indices, Metals, Single Stocks, Cryptos, Commodities

Regulators VFSC

Account Currencies

Payment Options Skrill, Neteller, Visa, Bitcoin Payments, Wire Transfer

Pros

• Two pricing models for different trading goals and experience levels
• Access to 'Smart Trading Tools' such as correlation matrix, sentiment data and an economic calendar
• Free demo account plus entry into trading contests with cash prizes up to $800

Cons

• No swap-free account
• Weak regulatory oversight from the VFSC
• Below average education and market research

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 150+
• Forex 80+
• Indices 10+
• Metals 10+
• Cryptos 10+

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.

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.

Top 3 Alternatives to FXPIG

Compare FXPIG with the top 3 similar brokers that accept traders from your location.

1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
   Go to IG
2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex

FXPIG Comparison Table

Compare Trading Instruments

Compare the markets and instruments offered by FXPIG and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

FXPIG vs Other Brokers

Compare FXPIG with any other broker by selecting the other broker below.

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.