Being your own forex broker - possible?

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

  1. Zimbu

    Zimbu

    I understood the OP as wanting to trade directly with the liquidity providers (banks, etc.) rather than having to go through the middleman (retail broker, dealer, bucket shop, whatever you want to call them). If you're only wanting to trade for yourself and not take client's money, then you don't have to abide by NFA brokerage minimums. The banks will be happy to take your trades directly as long as you trade $10 million at a shot. Less than that is below their radar screen, and you'll need to use the retailers to get your trades out there.
     
    #21     Feb 11, 2009
  2. dc101

    dc101

    Thanks, Zimbu, Jachyra, etc.

    My original question was exactly what I meant - avoiding the middleman and trading only for myself. I did not want any customers. Sort of like getting a seat at the "fx exchange".

    The reason for that was my starting to hear horror stories from ET-ers about glitch-like price level fills, huge spreads out of nowhere, and outright scams, etc, and I wanted to see would it be possible to avoid that.

    Cheers. ;-)
     
    #22     Feb 12, 2009
  3. What's so complicated about this, people trade currencies with banks every day, spreads will reflect the volume you're trading.

    Talk about making a meal of it, it ain't exactly rocket science!
     
    #23     Feb 12, 2009