Being your own forex broker - possible?

Discussion in 'Forex Trading' started by dc101, Feb 8, 2009.

  1. dc101

    dc101

    Being your own forex broker - does anybody know what's involved in becoming one? I mean to be directly trading forex instead of going through brokers like FXCM, GFT, Oanda, etc?

    Thanks in advance.
     
  2. cvds16

    cvds16

    where you seriously planning to invest that 1000 $ you got left in your piggy-bank ?
     
  3. How much money have you got?

    When I first started out (before the proliferation of retail bucketshops) I had two bank accounts at Barclays, one in sterling (GBP) and one in US Dollars and I simply converted GBP to USD and back again. The spreads were >100 pips and the transaction costs were crazy but somehow I still seemed to make a few bucks! It was when I finally got the direct telephone number for a dealer that I really thought I had arrived :)

    True story!
     
  4. dc101

    dc101

    How much money would I need?
     
  5. How much money do you want to make?
     
  6. Ribs

    Ribs

    I understand that you are unhappy with bucketshops and FX brokers

    who wouldn't be
    but why wouldn't you trade FX with IB
    give me one good reason
    and I'll tell you how to be your own broker
     
  7. Me! I love my bucketshop, I send them a Valentine's card every year :)

    Super leverage, instant fills, lagging quotes....what's not to like!
     
  8. dc101

    dc101

    I'm just trying to learn/understand how the business works - is it such a problem to explain?
     
  9. Ribs

    Ribs

    did you say lagging quotes ??????
    am I reading this correctly
     
  10. cvds16

    cvds16

    I see you have an IT-background from your other posts. Imagine me buying a computer for the first time, I start it up, I see Windows, I don't like it as it seems much too quirky and it crashes too much. So I post here somewhere that I heard about programming languages and that it should be somehow possible be make my own operating system. For the rest I really don't know anything about. So couldn't someone tell me about those programming languages and help me build my own operating system so I don't need these software vendors ...
    it's about the same question ...
    now why wouldn't someone want to help me and start to explain what I would need to do ...
     
    #10     Feb 8, 2009