use logic here folks...Deutsche is a huge and prestigious bank. i doubt very much that they would stake their reputation by establishing a relationship with a firm that was less than legit. that would be a sure way to destroy one's long standing credibility and i don't think DB would risk that. besides, even if there was a relationship then obviously FXCM must have proven itself as running a relatively clean business. can you imagine the intense due diligence Deutsche's lawyers would have had to perform before entering into such a relationship? these guys get paid big money to protect the bank. and yes, i agree with an earlier poster's observation about DB assuring them that their FX retail outlet is their own...my friends working at other big banks have confirmed this as well.
Risktaker989, Use logic ? What reputation ? Here some food for thought regarding the reputation of Deutsche Bank in the interbank market 2cents Registered: Jun 2005 Posts: 1870 02-02-07 05:05 AM there is no anonymity under currenex... exactly right, bank streamers and particularly DB's use last look option in fast markets to indiscriminately screw snipers or ppl simply trying to get out without getting killed... no better than the shadiest bucket shops... and i've posted more personal horror stories with Currenex for ppl who care to do a search... GUI aside, i honestly wonder why ppl like them...
And here a reaction of the clowns at FXCM TradeViper Registered: May 2006 Posts: 180 01-05-07 03:14 PM Hello all, talking about fxcmpro, when we were setting up our managed account side we spoke with fxcm about Pro, the sales lady walked me through the CX platform, when I asked her to explain why the spread was 3 pips and PFG's was 0-1 pip she said that PFG was creating an artificial market and 3 pips was the "real" market, I almost burst out laughing at that statement. I also asked about API trading and she told me that FXCM would have to approve any programs to make sure they were not "predatory", I guess that means profitable. After this experiance, I would not reccommend them to anybody. Since PFG was already mentioned, I willl tell you that they have treated us very well and we are pleased with their service, if you want to trade CX with a 50k size minimum, I would reccomend them. The Never Trading With FXCM VIPER danger66 Registered: Oct 1999 Posts: 117 01-05-07 03:36 PM Good one, Viper. Predatory = Profitable! What a joke!
So what is your point, that there isn't a relationship between FXCM and dbFX or that there is and it doesn't matter? Given all the evidence, only someone who keeps his head firmly up his own backside would argue the former. Just one more bit of evidence: Michael Mirarchi was the dbFX rep I had contact with. http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0358610&rn=N The fact that FXCM is a "clean" business doesn't make it a good business.
interesting link...in truth, most market makers have some type of working relationship with banks in order to accomodate the market making process. so it wouldn't be unusual to see some kind of link between market makers and banks. i wouldn't be surprised that FXCM had this kind of connection with many banks including DB. they may have even consulted with them on how to setup their retail offering...all of this sheer speculation of course but not incredibly far fetched. as for Mirarchi...that same link shows that he no longer is with FXCM. my guess is he possibly saw an opportunity to further his career with DB using his previous experience. Wall Street is a small community...guys jump ship and change alliances all the time. i know because i used to work for the old wire-houses and was caught up in that craziness back in the day. anyway, it may or may not be relevant...just food for thought.
Come off it. When you download the dbFX platform (which is the same as the FXCM platform) you connect directly to FXCM servers. How much more evidence do you need? As for Mirarchi his details were suddenly amended immediately after I "outed" him on another thread. Maybe a coincidence or maybe they just don't want people to know they are FXCM.
the market maker they all have connection with banks , depend on the volume and credit , larger volume and good credit market maker have big bank connection is for sure . dukascopy is with ubs and rbs. realtimeforex is with ubs and db . it's not surprise that fxcm is with db , and db's retail use fxcm;s platform , no big deal , beside fxcm's platform is not bad for long term trader , it's not suited for news trader for sure . small trader like ibfx use fxlq and no bank connection .
Deutsche about to boot out FXCM ? read paragraph titled "I don't want to lose you" http://www.euromoney.com/article.as...=1234212&Page=20&PUB=20&ISS=12943&LS=EMS37480
hey nick it does not mater , person hears what they want to hear and disregards the rest , you warn them and then its there responsibility to do as they see fit ,, I'm sure you will agree that there is more than just a few people that have to learn the hard way , its what I think keeps these bucket shops in buiss ,, let em learn the hard way .. bukets shops are the rule not the exception.. peace hemp
Hi, Deutsche Bank is definitely not FXCM. DB provides liquidity for market makers including FXCM and Saxo Bank. DB is huge in FX. FXCM is just a minnow in comparison. I have an account with both. The pain is not being able to have the DBFX Trading Station and FXCM Trading Station installed at the same time. I have found a workaround: At login, click on 'Settings'. The connection name has to be 'Real'. It is the URL you have to change: DBFX = http://dbfx.fxcorporate.com FXCM = http://www.fxcorporate.com If there are more elegant solutions, please let me know. Regards Morty