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Belarus’ central bank sets minimum capital requirements for forex brokers. The National bank of Belarus published a decree, setting the rules for the minimum capital of forex brokers, reports the Belarusian Association for development of the financial markets (ARFIN). The document established the minimum size of the required margin capital at 50% and determines that a security capital is formed and replenished by the forex companies (legal entities, registered in Belarus, having capital of at least 2 billion Belarusian rubles (around $93 000) and included in the National bank’s forex companies register) into an account in the National forex center and used as a collateral. “This resolution of the National Bank requires that 50% of all funds are credited to the broker as a margin collateral and are placed in a special account at the bank. This is necessary so that the company is able to meet its obligations to customers and pay money back on demand. I must add that those are not the only regulatory requirements to ensure customer safety. Additional regulations and requirements limiting the risk, will also be applied and a special fund will be set up, said Eugene Mandrusov, Chairman of ARFIN. He explained that the special account would be opened with a contract between the forex broker or the National forex center and a bank or a non-bank financial institution in Belarus. Those funds cannot be used by the forex company, unless they are needed for fulfilling obligations to the client (withdrawals) or to the regulator (minimum required capital), added Mandrusov. FXPIG Review - Is it scam or safe? RATING: 2.9 / 1 REVIEWS. RECOMMENDED FOREX BROKERS. Trading Accounts. Unlike most brokers, offering a variety of account types on the popular MT4 platform, FXPIG provides its clients a single account option, available on a selection or trading platforms - MetaTrader 4, cTrader and FIX API. What is more, this broker offers a choice of two direct access trading technology options: Single and Multiple Point Aggregation feeds (SPA & MPA). The Single Point Aggregation offers top tier FX liquidity (from Banks & Market Makers), customized to FXPIG`s clients trade flow, while the Multiple Point Aggregation provides feed of pre-aggregated liquidity (from ECNs & Prime of Prime & Aggregators), which includes a multiple venue matching engine. Micro lots are available for trade with this broker and also, there is swap-free Sharia-compliant service, provided to investors of Islamic belief. PAMM accounts (with a minimum deposit of $2,000) are also available. The Company. Security of Funds. Prime Intermarket Group Asia Pacific Ltd. FXPIG was founded in 2009 and comes with the promise of true interbank pricing, fast executions, and real hands on customer service. It offers trading in more than 40 currency pairs and precious metals on two of the most popular trading platforms, MetaTrader 4 and cTrader. FXPIG is the Forex trading brand of Prime Intermarket Group Asia Pacific Ltd., a company currently licensed in Vanuatu. Previously, the broker was registered in the Financial Service Provider Register (FSPR) of New Zealand andhad 6 years of a spotless record, but got deregistered in December, 2016. FXPIG claims that it wants regulatory oversight, but the FSPR registration has become somewhat of a "pariah", and reputable regulators such as FCA, CySEC and ASIC are either no longer accepting applicants from non-multinational size participants or are in the process of pushing retail FX onto low leverage exchanges. That is why FXPIG chose Vanuatu - an offshore tax-free destination, where registration procedure for forex and binary brokers is fast and inexpensive. Minimum capital requirements are also low, amounting to $2000. What is more, FXPIG holds an A-Category license with the Financial Commission (FinaCom) - a Hong Kong-based external dispute resolution (EDR) organization and any client of such company can be eligible for a compensation of up to $20 000. Trading Conditions. Minimum Initial Deposit. The minimum initial deposit required by FXPIG is $500. This is a reasonable amount to start trading with, taking into account the broker’s STP/ECN model, yet it may prevent some small investors from trading with this broker. In comparison, MahiFX, also a NZ broker, has set no minimum initial requirement. As a true STP/ECN broker, FXPIG provides tight floating spreads. The typical ones on EUR/USD are around 0.3 – 0.4 pips, and the commission fees vary, depending on the trading platform used: $2.5 (FIX & MT4) or $3 (cTrader) per standard lot (per side). So basically average trading costs per lot on the EUR/USD pair amount to around 1 pip or even less, which is quite a competitive value. In comparison, MahiFX offers spreads averaged 1.0 pips on EUR/USD, and charges no commission. You may check out and compare real-time spreads of 15 leading brokers here. The maximum leverage level offered by FXPIG is 1:400, which is a comparatively high ratio, yet most brokers usually offer similar or higher leverage ratios. Key To Markets, for instance, provides leverage up to 1:500. A list of more forex brokers offering leverage levels equal to or exceeding 1:500 may be viewed here. We advise traders to exercise caution when operating with high leverage, for trading on margin may lead to heavy losses exceeding their initial investments. Like most FX brokers, FXPIG supports the industry standard, MetaTrader 4 (MT$), but also provides decent alternatives to it, cTrader and FIX API platforms. The adding of the cTrader to the broker’s portfolio is no surprise, as this platform is created as an ECN one by default. It is an award winning multi-asset platform developed by Spotware. Fast order entry and execution speeds, precise quotes, many different time frames and Level II pricing are just some of the reasons why many traders today choose cTrader as their go-to platform. MT4 is globally popular for its innovative, on the go trading capabilities, variety of built-in indicators, advanced charting, automated trade options with Expert Advisor strategies (EA) and extensive back-testing options for them. Not to mention its fast and user-friendly technology, allowing even novice traders to easily find their way around it. Here is a list of more forex brokers offering MT4 platform. What is more, FXPIG offers the possibility of API integration, which is intended mostly for professional market participants. The API is used to receive real-time data feed, submit orders, set / modify / cancel orders, and receive automated notifications of trading activities. If you want to trade your own black box algo, or have your own platform and you want access to FXPIG`s Liquidity, FIX is the solution. In addition, FXPIG offers VPS service powered by BEEKS Financial Cloud. It is free of charge for clients who trade 150 standard size lots each month. A 50 % discount of the GBP 60 price is also offered to those who trade 75 lots monthly. Methods of Payment. FXPIG’ clients are offered the following modes of payment: Credit/debit cards, bank wire transfer, and Skrill, and Neteller e-wallets, as well as FXPIG prepaid MasterCard. FXPIG is a reliable Forex and CFD broker operating under the licensing and regulation requirements of New Zealand, which offers a variety of trading platforms and price feeds in a single STP/ECN account. Here are, in a nutshell, the Pros and Cons with regard to this broker: FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts. easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus. HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip. XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for. FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion. FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection. FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals. FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions. Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits. Spread. Slippage. Requotes. Price feed. Platform. Deposit/Withdraw. Customer service. Summary. Traders` reviews for FXPIG. Transparent. very pleasant experience with both trading and investor account. Transparent and friendly, and good support. I recommend them. Forex Industry News. Latest forex brokers. Forex trading carries a high level of risk and may not be suitable for all investors. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. All information on ForexBrokerz.com is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website. All textual content on ForexBrokerz.com is copyrighted and protected under intellectual property law. You may not reproduce, distribute, publish or broadcast any piece of the website without indicating us as a source. 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