I don't trade forex much but recently put on a few trades and I noticed that the amount of positive carry that I was making on positive interest rate pairs seemed far less than the amount of negative interest I was losing when I had on negative interest rate pairs. After some digging, I discovered, sure enough, the dealing desk caps the amount of positive interest one can earn, but leaves uncapped the amount of negative interest one can lose. I'll spare you my rant and simply ask those of you who trade forex who you use and whether they have more equitable interest rate policies? Thank you!
With all the bucket shops you get you ass wiped for sure. GFTfx, CMC, IBfx, ... They got to make money somewhere and they take it where it is less obvious that they are taking it. I think it is better with some brokers (IB?) or banks but don't have any numbers. But in any case, the negative carry is part of the trade and this is why you got to have some serious convictions to stay short for a long time on negative carry pairs.
I never thought of Thinkorswim/TDAmeritrade as a bucket shop, but I was clearly mistaken when it comes to FX....