Choosing your Broker... - Page 2

Maximus · #11 (**permalink**) 05-11-2007, 10:52 AM

thx you very much... Max

thesource · #12 (**permalink**) 05-13-2007, 10:42 PM

Quote:

Originally Posted by BadBoy

I just chatted with www.rfxt.com and they seems to be good, since you are the man with experiance, what do you think of them, currently I am with IBFX and they are killing me during the news

Thanks a lot for your help
Sam

Hi Sam.

I would just like to make a comment on the post you made. I am currently clearing via InterbankFX with my IB. The main reason why the news is killing you is due to the Spread widdening during the announcements.

Depending on your trading style this can be a killer with prices being volatile and positions not getting filled. But I would like to point out that this is common among all clearing companies.

Note that the spread widdening is a good thing. It shows that you are not working via a dealing desk. Fixed spreads are associated with companies that trade against their clients.

My personal advise would be to stay clear of the News till an hour afterwards and watch the waves calm down.

I hope this helps.

BadBoy · #13 (**permalink**) 05-13-2007, 11:39 PM

Quote:

Originally Posted by thesource

Hi Sam.

I would just like to make a comment on the post you made. I am currently clearing via InterbankFX with my IB. The main reason why the news is killing you is due to the Spread widdening during the announcements.

Depending on your trading style this can be a killer with prices being volatile and positions not getting filled. But I would like to point out that this is common among all clearing companies.

Note that the spread widdening is a good thing. It shows that you are not working via a dealing desk. Fixed spreads are associated with companies that trade against their clients.

My personal advise would be to stay clear of the News till an hour afterwards and watch the waves calm down.

I hope this helps.

Thanks a lot the source for the info

riffster · #14 (**permalink**) 05-14-2007, 02:03 AM

Quote:

Originally Posted by thesource

Hi Sam.

I would just like to make a comment on the post you made. I am currently clearing via InterbankFX with my IB. The main reason why the news is killing you is due to the Spread widdening during the announcements.

Depending on your trading style this can be a killer with prices being volatile and positions not getting filled. But I would like to point out that this is common among all clearing companies.

Note that the spread widdening is a good thing. It shows that you are not working via a dealing desk. Fixed spreads are associated with companies that trade against their clients.

My personal advise would be to stay clear of the News till an hour afterwards and watch the waves calm down.

I hope this helps.

Be careful. Just because spreads widen during news doesn't mean that your broker is providing direct access to an Interbank market place. IBFX uses a Company is called FXLQ to clear their trades and FXLQ does have a dealing desk. FXLQ is not an ECN. From there you can draw your own conclusions...

I use to work at IBFX. I don't like brokers using "smoke & mirror" tactics and making false claims about they way they fill their positions. IBFX is a market maker. They just "make" their market on FXLQ's servers, so FXLQ then becomes the bucket shop, allowing IBFX to claim "no dealing desk"...

It's sooo important to research your broker's in's and out's...

goldcourse · #15 (**permalink**) 06-29-2007, 12:56 AM

Below is an email I received and feel I shud share with this forum:

"The last few weeks has seen the NFA foreclosing on a lot of forex
dealers who are undercapitalized. The following firms have been shut
down as a result:

1) United Global Markets, LLC
Today the CEO just sent an email out to clients saying they were going
out of business because they could not meet their capital requirements.
2) Trend Commodities Limited
On June 19 the NFA shuttered Trend Commodities due to fraud and for
failing to meet their capital requirements.
3) Spot FX Clearing Corp
On June 14 the NFA shuttered SpotFX due to fraud and for failing to
meet
their capital requirements.
4) FX Option1 Inc.
On June 7 the NFA shuttered FX Option1 due to fraud and for failing to
have adequate security deposits for customers.
5) Spencer Financial LLC
On May 17 the NFA shuttered Spencer Financial due to fraud and for
failing to meet their capital requirements.
6) Alpha Forex
On May 14 the NFA shuttered Alpha due to fraud and for failing to meet
their capital requirements.
Do you have money with the following? their current capital - IF SO GET
OUT NOW
One World Capital $1,105,000
Open E Cry LLC $1,062,810
Velocity4X $1,587,000
Direct Forex LLC $1,523,000
Easy Forex US Ltd $5,011,644 - they are above the 5 mio threshold but
only just and with a name like that - get out.
3D Forx LLC $ 2,525,372
E FX Optioons LLC $1,709,752
FiniFX $1,464,000
Forex Club $3,304,000
Forex International Investments Inc $1,464,620
Forward Forex $1,793,767
FXCM LLC $759,689
GFS Futures & Forex $3,074,000
Nations Investments $1,699,000
Royal Forex Trading $1,102,000
SNC Investments $1,565,000
Tradition Securities $781,869
I Trade FX -$3,039,000 Note these guys are already bankrupt ---
negative
capital.!!!! !
MB Futures $3,080,000
Money Garden Corp $3,399,844

amenlo9 · #16 (**permalink**) 06-29-2007, 03:49 AM

only 750K capital on FXCM?

amenlo9 · #17 (**permalink**) 06-29-2007, 04:11 AM

who is clearing for Avail Trading Corp. and STI FX

riffster · #18 (**permalink**) 07-01-2007, 02:11 AM

Quote:

Originally Posted by amenlo9

who is clearing for Avail Trading Corp. and STI FX

Sorry, don't know about those IB's... It should be easy to find out though, usually ( if the firm that they are clearing through is legit ) the sponsoring broker will make them post info around their website and such...

riffster · #19 (**permalink**) 07-01-2007, 02:12 AM

Quote:

Originally Posted by goldcourse

Below is an email I received and feel I shud share with this forum:

"The last few weeks has seen the NFA foreclosing on a lot of forex
dealers who are undercapitalized. The following firms have been shut
down as a result:

1) United Global Markets, LLC
Today the CEO just sent an email out to clients saying they were going
out of business because they could not meet their capital requirements.
2) Trend Commodities Limited
On June 19 the NFA shuttered Trend Commodities due to fraud and for
failing to meet their capital requirements.
3) Spot FX Clearing Corp
On June 14 the NFA shuttered SpotFX due to fraud and for failing to
meet
their capital requirements.
4) FX Option1 Inc.
On June 7 the NFA shuttered FX Option1 due to fraud and for failing to
have adequate security deposits for customers.
5) Spencer Financial LLC
On May 17 the NFA shuttered Spencer Financial due to fraud and for
failing to meet their capital requirements.
6) Alpha Forex
On May 14 the NFA shuttered Alpha due to fraud and for failing to meet
their capital requirements.
Do you have money with the following? their current capital - IF SO GET
OUT NOW
One World Capital $1,105,000
Open E Cry LLC $1,062,810
Velocity4X $1,587,000
Direct Forex LLC $1,523,000
Easy Forex US Ltd $5,011,644 - they are above the 5 mio threshold but
only just and with a name like that - get out.
3D Forx LLC $ 2,525,372
E FX Optioons LLC $1,709,752
FiniFX $1,464,000
Forex Club $3,304,000
Forex International Investments Inc $1,464,620
Forward Forex $1,793,767
FXCM LLC $759,689
GFS Futures & Forex $3,074,000
Nations Investments $1,699,000
Royal Forex Trading $1,102,000
SNC Investments $1,565,000
Tradition Securities $781,869
I Trade FX -$3,039,000 Note these guys are already bankrupt ---
negative
capital.!!!! !
MB Futures $3,080,000
Money Garden Corp $3,399,844

Yup, the boom has finally dropped..! Very very good news for all retail traders..!

georgetrader · #20 (**permalink**) 07-01-2007, 09:40 AM

Quote:

Originally Posted by riffster

Sorry, don't know about those IB's... It should be easy to find out though, usually ( if the firm that they are clearing through is legit ) the sponsoring broker will make them post info around their website and such...

STIFX is a knownful company for its superior financial products techology, analysis, and best customer service they provide.
I am trading with STIFX and all there clearing firms are legit, the funds are totally secured.
The best thing i like is quick deposit and quick withdraw of funds, along with the support makes a good trade for myself.
I dont know about Avail trading, never heard of it.

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