Discussion in 'Forex Brokers' started by ar_stern, Mar 18, 2005.
does anyone here use currenex via FXCM.
propfx.com. Any feed back?
Anyone using FXCM must be out of their mind...
I would be really careful with this one!! I was just looking at the Currnex offered through RefcoFX and after looking at the system I noticed that the pips are wider than the true Currenex feed pretty funny. When I was on the phone with one of my contacts at Currenex his quotes were 1 pip wide on EUR/USD and when I was looking at Refco Currenex it was 3 wide. LOL no wonder they don't charge a commission they are just not showing the true feed and marking you up like all other platforms. So just be sure you are getting the true Currenex feed instead of being piped to death by these retail shops with widened versions of Currenex. One thing to throw at you if you are not being charged a commission something is definately wrong, you need to ask more questions.
I have not contacted Currenex directly yet, but I have been told that they don't provide direct service to retail client regardless of size. Is that incorrect
Try Refco if you want access to currenex.
That is correct you cannot open an account directly with Currenex.
False. Although you have to also have an arrangement with a Prime Broker, through which you will effectively clear through.
Strange! I thought your post said you were setting things up to start trading with Currenex directly
no I never said I was setting up an account with Currenex directly, what I said was I know a couple of people over there. An individual just can't wire some money to Currenex and start trading, you have to have someplace to clear trades, as Lon Eagle stated. Hope that clears it up for you.
For all intents and purposes you are correct since I cannot imagine that anyone posting on this forum would remotely qualify personally for a prime brokerage account with a major bank to grant access.
Separate names with a comma.