Deutsche Bank is selling their retail arm, DBFx. They are not ending their institutional business. Their retail arm is not the largest player in the game, that's their institutional desks . Jesus, Beatrice, you can pull all sorts of crap from all sorts of websites to post about all your sorts on conspiracy bullshit, and yet you can't do a simple search and educate yourself? Deutsche Bank remains the world's largest provider of foreign exchange to institutional and corporate clients. http://www.prnewswire.com/news-rele...eign-exchange-trading-business-120359154.html You are indeed a dolt. In a old argument followup, for those that said FXCM had NOTHING to do with DBFX, read: According to sources close to Deutsche Bank, dbFX has always been operated with minimal resources within the bank, while sales, technology and back-office functions were outsourced to US-based online retail FX specialist FXCM. Further growth of the business now requires a retail specialist such as Gain Capital. http://www.fxweek.com/fx-week/news/2045650/deutsche-bank-sells-dbfx-gain-capital
ForexMagnates.com posted an interesting article on it this morning. http://forexmagnates.com/dbfx-is-ex...-transfers-clients-to-gain-capital-forex-com/ It might be related to new requirements being forced by CFTC.
Forex is the most profitable business for future and Forex transactions are $4 Trillion per day. If DBFX is quitting they must be thinking of something. Why would somebody sell a highly profitable business. Think about it.
Dbfx was using FXCM's platform? FXCM can't be very happy about losing this business. Won't this be an issue? FXCM is also one of the biggest name in Forex world.
Chalk this up as another risk for traders. When a broker's ownership changes hands, such as in this instance, customers are given such short notice, requiring them to close all open positions by a certain date. What happens to hedged positions, for example, where time is an important consideration for exiting trades? What "seamless transition" are they talking about when traders are faced with the possibility of losing money during the migration process?
Yep, same thing happened with CMS accounts when moved over to forex.com. More like a shotgun wedding! at least a little more time given for this one since the platforms are different.
Hi bearice, This is FXCM's statement regarding dbFX: Of course, traders that want to use the FX Trading Station II platform can always contact FXCM directly about setting up an account. -Jason
So Deutsche Bank finally acknowledges that DB Fx was run out of FXCM facilities, using FXCM 's personnel ! Basically this is admitting lying to customers for years since they always claimed that DB fx was only using FXCM's platform but that the company was completely separate from FXCM , with different offices, servers, people etc. Some of us thought DB Fx and FXCM were the same but they kept denying it. How can they get away with lying to customers ?
White labeling is using third party software (&support )and execution , not third party customer service and offices. Besides DBfx always denied that its quotes and liquidity were FXCM's, employees also denied they had anything to do with FXCM, even though they were registered on the NFA website as employees of FXCM. Talk about a culture of lies and deception .