This one looks like the real deal from the outside, but do your own study and derive your OWN conclusions, please. From what I can see and have read thus far, they are worth a second look. Closest thing to a true ECN Broker that I've found. Developed its own Order Matching Algorithm. Presents STP as execution methodology. Presents access to the major FX Liquidity Providers. Deploys a Currenex Hub for Trading. Currenex Viking and Currenex Classic are the trading platforms it delivers to the Trader's desktop. CFTC's 10:1 mitigated by Registration in New Zealand (not subject to U.S. rules). They seem to know and understand both technology and the Retail Trader's needs. If you believe them, they seem to 'get it' - the need for the Retail Trader to have access to Institutional type liquidity pricing. Obviously, they use a pricing aggregation routine before showing you the prices in the trading platform. They even have a Business Continuity Plan that they actually publish "Notice" of on their public facing website. I don't know of any other Broker that has one, let along publishes a notice about it, so this must mean that they are forward thinking people, which means they are concerned about the future - a good sign for any "Broker" in any market, no doubt. I've downloaded their demo. Installed easy, set-up by itself and ran with no problems overnight. It is Currenex, so if you like Currenex, then you will undoubtedly like this one. I don't have an account, never knew them before last night, don't trade with them, don't work for them, don't know anyone that works for them and have no relationship to them. I'm just reporting my findings here for Newbies looking to avoid 10:1 and in need of the closest thing to a real ECN that you can get with a RESPONSIBLE Intermediary. These guys seem to have their act together (from the outside). Main Site: FX Site: Disclosure Statement (for: aForexMinute!) http://www.divisafx.com/index.php?option=com_content&view=article&id=66&Itemid=84 Business Continuity Plan (Public Notice): http://www.divisafx.com/index.php?option=com_content&view=article&id=64&Itemid=83 TradeSMART and do your OWN homework.
Oh, by the way. If you read their site - they actually 'encourage' scalping. Or, at the very least, they don't frown upon scalping as a technique / strategy they would have a problem with. I have not checked them all, but I don't know of many (I'm sure there are some out there) 'Brokers' that admit such on their website.
Don't know - have not asked. Given all the talk about 10:1 and which U.S. based Broker will go down first, I suspect that more people will start to take a look at this one, if they are still contemplating trading the Forex with better leverage options. Of course, the other is dbFX. They are a Bank not an FCM or Broker for Forex and as a result, are not subject to CFTC and/or NFA rulings. So, they intend to maintain the 100:1 policy, as far as I know. CitiFX is a Bank as well. Though regulated and chartered in the U.S., they are not an FCM or Broker and should not be impacted. Funny - FXCM is now running Ads on other websites, pushing their U.K. offering in some cases, exclusively. I like seeing FXCM on the run, serves them well. Yep, DCFX is looking like a standout "Broker" the better the CFTC ruling comes into effect.