FXPIG Review
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FXPIG is an international offshore forex broker offering STP execution via cTrader, MT4 and MT5 platforms. The broker supports up to 1:500 leverage and allows any trading strategy.
FXPIG Review
Introduction to FXPIG
FXPIG is an international forex broker licensed in Vanuatu. Many consider The name FXPIG unconventional, and the branding is closely linked to the pig reference. The company mascot is a pig. While FXPIG is a tradename, the company name is Prime Intermarket Group Asia Pacific Ltd.
When we first reviewed FXPIG in 2019, the website theme blushed pink and positioned towards a mature crowd of traders. The website copy was fun, fresh and full of jargon and banter that would only make experienced traders grin. The
About FXPIG
FXPIG holds a Principal’s License for dealing in securities, granted by the Minister of Finance and Economic Development of Vanuatu, under the arm of the Vanuatu Financial Services Commission (VFSC Company Number 014578). There are almost 150 financial services companies licensed by the VFSC. FXPIG acquired the license in Vanuatu in May 2016.
However, former trader Kevin Murcko founded the company in 2009 in Auckland, New Zealand. The company was previously registered as a financial services provider in New Zealand and strategically relocated to Vanuatu. At the time, Kevin Murcko commented: “The ability to grow WITH a regulator is a key, as over-bloated regulations can end up being a hindrance rather than a virtue”.
Kevin stepped back from his role at FXPIG to focus on the crypto exchange CoinMetro. He was succeeded by Bobby Winters, former head of institutional sales at Charterprime.
| Year established | 2009 |
| Year started offering cTrader | 2015 |
| Regulation | FSC (Vanuatu) |
| Headquarters | Vanuatu |
| Number of employees | 10+ |
FXPIG trading conditions
Trading costs at FXPIG can be affordable if you choose the right account type and feed. The amount you deposit determines the account type and, therefore, the trading costs you’ll pay. The feed determines whether you get raw prices and pay a commission for each trade or if the fees are combined with the spread.
FXPIG claims to be connected to over 20 tier 1 liquidity providers, allowing them to support all trading strategies, including scalping, HFT and algorithmic trading.
| Maximum leverage | 1:500 |
| Asset classes | Forex, Indices, Metals, Energies, Equities |
| Total trading instrument | 300+ |
| Trading commissions | From $4 per lot |
| Account currencies | USD, EUR, GBP, JPY, AUD |
| Minimum deposit | $200 |
| Spreads | From 0.0 |
| Stop out level | 50% |
FXPIG trading instruments
Like many forex brokers, FXPIG provides many more products to trade as contracts for difference. In addition to a wide variety of currency pairs, FXPIG provides a diverse range of trading instruments, including indices, shares and crypto, to cater to any preference. However, remember that each instrument comes with specific trading conditions. This information can easily be found in the trading platform contract specification.
- Over 300 forex, precious metals, cryptocurrencies, oil and indices trading pairs
FXPIG account types
FXPIG categorises its offerings into three account levels: Standard, Premiere, and Pro. While both the Standard and Premiere levels provide two execution models, Raw+Commission or All-In price feeds, the Pro account exclusively offers the Raw+Commission model.
The All-In feed has trading costs padded into the spread. On the other hand, the Raw+Commission model offers variable commission fees based on account type on all assets (except for index CFDs, which are commission-free) but offers the advantage of considerably narrower spreads.
| Account type | Standard (Raw) | Premiere (Raw) | Pro |
| Spread from | 0 pip | 0 pips | 0 pips |
| Commissions (FX & metals) | $8 per lot | $6 per lot | $4 per lot |
| Commissions (indices) | 0 | 0 | 0 |
| Commissions (equities) | 0.35% | 0.3% | 0.25% |
| Commissions (crypto) | 0.35% | 0.3% | 0.25% |
| Min deposit | US$200 | US$5,000 | US$50,000 |
| Max leverage (Pro) | 1:500 | 1:500 | 1:500 |
| Min. order size | 0.01 lots | 0.01 lots | 0.01 lots |
Accessibility to FXPIG services
FXPIG can offer services to a wide range of jurisdictions, which is one of the advantages of having a Vanuatu license. Besides not accepting US clients, this broker does take Canadian, Chinese, Russian, Australian and European clients, although it doesn’t advertise services directly. There are several reliable deposit and withdrawal methods available.
FXPIG launched cTrader in 2015 to complement its existing MetaTrader 4 platform and FIX API offering. The FXPIG cTrader platform is very well promoted on the company’s website, and trading conditions are kept the same on cTrader as with other platforms.
