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Author Topic: FXPig  (Read 96245 times)

Offline Bigsteve

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FXPig
« on: March 18, 2012, 12:02:56 AM »
Below link is regarding their principal, Kevin Murcko, with respect to a program (FXHoy) previous to FXPig

Google Kevin Murcko FXHoy. FPA also has a page each for FXHoy and a page for FXPig

http://www.talkgold.com/forum/showthread.php?s=9a668658d5805388092c17ddea713a8a&t=228961&page=37

Please take note this is NOT brought to bear on any specific trader, EA author, or other person who facilitates their services. If this information is to be refuted then leave the door open.
It is only about the informaion you see here.
This information I freely found on the web.


Steve
« Last Edit: March 18, 2012, 12:06:30 AM by Bigsteve »

Offline muzzamcc

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Re: FXPig
« Reply #1 on: March 18, 2012, 12:33:58 AM »
So I found all the negative stuff about him and his investor scams.  It is very interesting that he now is the principal in a firm that is regulated and by all counts seems to be doing fine.  I am having a hard time seeing where the scam is in the broker.  I will have to admit it seems weird.  Personally I will stay away from them.  I even read some good reviews about their broker services.  Maybe he took some medicine that made him "all good" for now.
Regulated in NZ, I don't know that I would put much faith in that. I haven't heard good things about their regulation of forex. I don't know if the broker is decent or not, but NZ regulation I'm wary of. Website does look pretty good though. I'll skip them for now as I have other brokers to use with hft bots. If they really do outperform significantly though i'll have to try them, maybe just with small deposits, high leverage and frequent withdrawals.

Offline Gekko

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Re: FXPig
« Reply #2 on: March 22, 2012, 01:18:04 PM »
A quick note as i have just seen this thread. I have been with FXIG for about 4-6 months, and in that time i have found them very helpful, in fact the after sales has been the best i have come across by far, both in fx and out! I have been a member of the DOOR managed account and have had a few DMA accounts with them which I have closed to open new accounts on the new ECN feed (by the way, when it was opened one of the guys skyped me asap to tell me it was open as I was desperate to trade the NMi super scalper on it)

Also on their blog is this post about FXHOY http://blog.fxpig.com/

I know this sounds like a sales pitch, but I thought I would post this as they have been good and helpful to me and I am in no way any thing to do with them.

This is my myfxbook if anyone's interested, there will be another one set up very soon with the same settings just at a different VPS to see if there are any differences in trades

http://www.myfxbook.com/members/spoon/fast-scalp/264126/wJPRH3gzzpmYOBDeobtD (btw, the first  few trades where mdp, which i took off as my vps was under powered)

Offline Kevin @ FXPIG

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Re: FXPig
« Reply #3 on: April 05, 2012, 01:22:37 AM »

A big thank you to Gekko for posting the link to our forum, I appreciate that.

A quick introduction; I am Kevin Murcko, CEO at FXPIG. If anyone has a question related to our company or anything regarding forex in general feel free to PM me or post it here on this thread. I will be monitoring any new posts on a daily basis.

Just an FYI however, if you are an FXPIG client and you need to contact us for any reason please make use of our helpdesk at http://helpdesk.fxpig.com for the fastest response possible.

Cheers,

Kevin Murcko
skype. fxpig.kevin

Offline forexforever

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Re: FXPig
« Reply #4 on: April 05, 2012, 11:24:24 AM »
Below link is regarding their principal, Kevin Murcko, with respect to a program (FXHoy) previous to FXPig

Google Kevin Murcko FXHoy. FPA also has a page each for FXHoy and a page for FXPig

http://www.talkgold.com/forum/showthread.php?s=9a668658d5805388092c17ddea713a8a&t=228961&page=37

Please take note this is NOT brought to bear on any specific trader, EA author, or other person who facilitates their services. If this information is to be refuted then leave the door open.
It is only about the informaion you see here.
This information I freely found on the web.


Steve

this sounds similar to the guys that run boston technologies. they had a big fund seperate to the boston and then did the dodgy and supposed lost everyones money but seems the syphone it off. now they have boston prime regulated by the FSA UK and the 2 guys named in the previous scam are on the board of directors for boston prime and have been approved by the FSA.

i would assume the FSA regulation is muvh tighter the NZ operation. i heard the regulation is lame and thats why there are so many new brokers setting up shop there. just because its a good country people think the regulation is better than cyprus but its probably the same....

Offline Kevin @ FXPIG

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Re: FXPig
« Reply #5 on: April 05, 2012, 09:41:52 PM »

If loosing investors money equates to a scam then just about every high profile investment manager from Buffet to Paulson and down the line are guilty of the same 'crime'.

Investment carries risk, sometimes, actually MOST of the time, losses are incurred. There is nothing sinister or criminal about losses in leveraged trading, it is a reality.

On to the regulation comment; NZ is a stepping stone for us. As a small boutique outfit we didn't have the capital necessary to acquire a license from the EU or UK starting out. Our internal compliance is already on par with MiFD standards the ONLY difference is we don't hold the minimum capital requirements as needed under EU legislation. Being 100% STP and the fact we do not hold client funds really does set us apart from the standard regulation categories anyway. However we have made the initial step to regulate ourselves in the EU, which via the MiFD rules will eventually passport us into the UK.

Regulation is not difficult, it is not expensive, the ONLY thing that separates an honest regulated broker in the EU, USA, UK from an honest broker who is domiciled elsewhere is minimum capital requirements. Regulation is not a clean bill of health for any company, look at MF-Global, the latest is an ever growing number of 'regulated' companies that continually allowed unethical and illegal operations to occur under it's watch.
skype. fxpig.kevin

Offline Kevin @ FXPIG

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Re: FXPig
« Reply #6 on: April 05, 2012, 09:46:14 PM »
FYI on Cyprus; it is MiFD complaint, meaning it's regulations and that of the FSA in the UK are on par with one another. Cyprus does have different classifications of licenses that the UK does not and different capital requirements, however the basic legislation is nearly identical.
skype. fxpig.kevin

Offline Gekko

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Re: FXPig
« Reply #7 on: April 05, 2012, 09:54:47 PM »
I have  read that article as I have a few quid with fxpig, as far as I can see Kevin ran a high risk high reward MA.he did not and could no run off with peoples money. And like I said in an earlier post, they have been more than helpful and very willing to answer any question I have had. Many years ago I lost more to a broker that was heavily regulated, personally I would rather have the trust in people than a false belief that the regulating body will protect me. But each to their own :)


And personally i think its great that someone who runs a brokerage has put themselves "out there" to answer questions as it always feels like its us Vs the sneaky brokers!

Offline Gekko

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Re: FXPig
« Reply #8 on: April 05, 2012, 09:58:38 PM »
So, first question:

ECN feeds, do brokers make money if i loose trades, for instance, the much talked about MDP plug in. Is this used just by bucket shops that we do know make money when the trader looses, is it the same with ECN? or would you rather everyone make lots so your commission goes up?


Offline Kevin @ FXPIG

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Re: FXPig
« Reply #9 on: April 05, 2012, 10:13:52 PM »
So, first question:

ECN feeds, do brokers make money if i loose trades, for instance, the much talked about MDP plug in. Is this used just by bucket shops that we do know make money when the trader looses, is it the same with ECN? or would you rather everyone make lots so your commission goes up?

In an ECN there are a lot of participants from banks to other brokers to hedge funds, etc. Somewhere in the mix there are desks, meaning somewhere within the network someone is market making.

We as a broker take no sides, so for us we would rather see winners as this way we all continue to make money. Even some market makers only hedge to offset risk so they don't exactly 'make their client's losses', however indirectly this will always be the case.

Now if the top of book price you hit is from a hedge fund or broker using a desk there is a possibility your exposure will be hedged, this does not mean they are expecting you to lose, just that they need to offset risk to someone else.

As I mentioned earlier at some point there will always be a desk, whether it is a bank's desk or a broker's desk. I doubt a plugin for MDP exists, this makes MDP seem much more important that it actually is, however just as retail clients use bots to try and win at this market so do brokers and banks. This is now the market functions.

Some people think a bank, having the ability to see standing and resting orders can someone just sit around and make tons of cash on a daily basis by going with or against retail trends. Sorry, this is pure fiction. All they can see is their networks liquidity and even the biggest ECN or FX Bank only clears anywhere from 5 to 10% of all daily transactions, so with the size of this market no one can manipulate it enough to ensure constant gains.
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Offline Kevin @ FXPIG

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Re: FXPig
« Reply #10 on: April 05, 2012, 10:24:06 PM »
One other comment; volume in FX is king. Even a market maker (an honest one) wants more volume. A market maker needs to hedge their risk to stay in business, but they do not want their book full of loosing clients as new clients cost money to obtain.

The old way of market making was dishonest to say the least, and as the retail market was relatively new, getting new clients was cheap. This created a free for all and started the seemingly never ending stream of new regulations from the CFTC and the like.

I read in another post someone making reference to spread widening after MDP did well on a brokers feed. Well this broker may have had a desk, the desk was unable to hedge risk efficiently given the speed at which positions are opened and closed so in order to combat this they marked up their spread. Not the best way to go about it in a business sense but certainly one way to stop the unmanageable trade flow.

skype. fxpig.kevin

Offline Mic

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Re: FXPig
« Reply #11 on: April 07, 2012, 08:21:07 AM »
One other comment; volume in FX is king. Even a market maker (an honest one) wants more volume. A market maker needs to hedge their risk to stay in business, but they do not want their book full of loosing clients as new clients cost money to obtain.

The old way of market making was dishonest to say the least, and as the retail market was relatively new, getting new clients was cheap. This created a free for all and started the seemingly never ending stream of new regulations from the CFTC and the like.

I read in another post someone making reference to spread widening after MDP did well on a brokers feed. Well this broker may have had a desk, the desk was unable to hedge risk efficiently given the speed at which positions are opened and closed so in order to combat this they marked up their spread. Not the best way to go about it in a business sense but certainly one way to stop the unmanageable trade flow.

Do you accept US clients?

Offline Kevin @ FXPIG

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Re: FXPig
« Reply #12 on: April 07, 2012, 08:52:58 AM »
We do...if you fall into one of the ECP Categories or you are the director/shareholder of a non-US based corporation/foundation.

Cheers,
skype. fxpig.kevin

Offline robl45

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Re: FXPig
« Reply #13 on: April 08, 2012, 12:40:25 AM »
We do...if you fall into one of the ECP Categories or you are the director/shareholder of a non-US based corporation/foundation.

Cheers,

so if a US resident has a BVI IBC and they are the director and shareholder, thats okay, you can still accept them?  just trying to make sure in case I decide to go through that hassle.

Offline Kevin @ FXPIG

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Re: FXPig
« Reply #14 on: April 08, 2012, 06:50:03 PM »
That is correct.
skype. fxpig.kevin

 

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