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FxPig review and ratings

Established 2011
Location Vanuatu
Regulation VFSC
Offices Port Vila
Broker type STP
Leverage up to 1:400
Deposit from 500 USD
Spreads low  low
Platforms MetaTrader 4 cTrader FIX API (protocol)
Instruments Currencies Indices Metals Energies
Funding methods Wire Transfer Credit Cards Skrill Neteller

Company information

FxPig is a forex broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).

Availability

FxPig accepts clients from all over the world, excluding USA and prohibited countries from the OFAC sanctions list.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

60+ Currency Pairs Based on major and minor world currencies.
2 Crypto Pairs Based on Bitcoin.
10 Indice CFDs Based on baskets of different blue-chip stocks.
4 Metal CFDs Based on Gold, Silver, Platinum, Palladium.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
60+ Stock CFDs Based on shares of US, UK and EU companies.

Comprehensive review

Set up back in 2011 and registered in the offshore jurisdiction of Vanuatu, FxPig is a forex & CFD broker that offers high trading leverage, tight spreads, and trading on either the popular MetaTrader 4 (MT4) or cTrader platform, or via FIX API on other third-party platforms.

Although registered offshore, FxPig is licensed to operate as a securities dealer by the Vanuatu Financial Services Commission (VFSC). However, it’s still worth keeping in mind that this is an offshore regulator, and traders should not expect the same regulatory standards as is usually expected in regions like the EU, Australia, or North America.

A unique thing about FxPig is that it offers several different price feeds for its clients, whether they are trading via MT4, cTrader, or the FIX API solution. This means that the selection of trading instruments that is available varies depending on which feed is chosen, and pricing on the same instruments may also vary between the different feeds, much in the same way as conditions also vary between different account types at other brokers.

In the case of this broker, there are three price feeds available known under the names SPA, MPA, and SFL, where SFL has the largest selection of trading instruments.

Across all three price feeds, FxPig offers trading in everything from popular forex pairs, major stock indices, single stocks of large American and European companies, commodities, as well as Bitcoin against both the euro and the US dollar.

All trading on FxPig happens in an ECN environment, with commission-based trading and tight spreads. Again, this also differs from most other brokers, which usually offer traders the choice between commission-free STP accounts, that are typically more suitable for beginners, and ECN accounts, that are a better fit for experienced traders with larger trading accounts.

Once signed up with FxPig, new clients will be prompted to fund their trading account via the most common payment methods such as bank transfer, debit or credit card, or the e-wallet platforms Skrill or Neteller. As opposed to many other offshore-based forex brokers, Bitcoin and other cryptocurrencies are not accepted as a funding method by FxPig.

In case of any issues during the sign-up process or later during trading, FxPig’s customer service can as usual be reached via email or live chat on its website. In addition, the broker’s support team can also be contacted directly on Skype for those who prefer that. Unfortunately, however, no direct phone number to the support team has been provided by the broker.

All in all, we are of the impression that FxPig is clearly a broker that is trying to introduce its own unique twist into the forex brokerage industry, and that has had some success in bringing over traders to its company since the launch in 2011. Despite this, there’s no doubt that the broker’s offering with three different price feeds, which each offer different instruments and trading conditions, can be a bit confusing for new traders especially. Lastly, new traders should also keep in mind that all trades made with FxPig comes with a fixed commission fee, which may be a problem for those trading with small account balances.

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