Global Futures and forex conversions

Discussion in 'Professional Trading' started by benwm, Mar 9, 2011.

  1. benwm


    I notice Global Futures has been quite highly rated in the review section. I am considering opening an account with them, and am currently asking some preliminary questions...

    However, there is one area they seem especially unclear about - forex conversions in a futures trading account. I have asked *** twice about this, but am not getting any clarity in terms of the width of bidask spreads when converting back & forth between currencies.

    Would anyone be kind enough to comment on your experiences, and/or the procedure when it comes to converting non-base currency balances in to your base currency?

    For example, suppose you trade a futures product over a period and accumulated 20,000 EUR, say, then wanted to swap back into your base currency, USD or GBP. Would you receive an institutional quote, eg. 1-5 pips or would it be closer to a retail bank quote, several hundred/thousand pips wide, just like when you go on holiday?!

    Also unclear whether they charge interest on short balances, they just said they don't pay interest on long balances. :confused: