Hello Elites, Great forum here, I have been back searching messages and have found some good stuff. Though my heart lies with equities, I have branched into foriegn exchange and like what I see. From what I have read and found with research, I have several brokers in mind. My current brokers of choice would be MB Trading, Interactive Brokers, HotSpotFx (retail), Dukascopy and ODL Securities. These brokers have 25k or less as a required deposit. I would like to go bigger. **I have a couple questions for a few of the bigger traders here I would love to have answered. 1. I want a broker/bank to trade FX that has a minumum requirement of no less than $50k - $100k initial deposit. 2. Of course, I want my funds protection to be guaranteed. 3. Does not discriminate against scalping or news trading . 4. Obviously has competitive spreads and commissions - not too big of a worry. 5. *Bonus would be API availability that can be connected with Bloomberg or Reuters news feeds. - Only a bonus . Thanks a bunch gentlemen, Kevin
100k is not large by fx standards. If your talking 7 figures+ then I would say take a look at this: http://db.riskwaters.com/data/FX_Week__subs_only_/Vol_15_No_46/survey.pdf Barcap or DB look good (best banks for e-trading - corporate). Actually go to Barcaps site and check out there demo - they used to have a nice presentation of it on their site (no longer), and it looked great (swaps, forwards, options, swaptions and other exotics all available), max $100m spot eur, without RFQ. Failing that, if security is your biggest concern (and you feel that IB and O are "risky" for you), DB retail. (shite spreads though...)
greetings and sorry for the maybe stupid question, but do they offer any leveraging? I can't really find it anywhere. I've heard you have to talk to your bank and get a so called "credit line" or something isn't there really anybody who gives the jumbo-investors at least 100:1 leverage or the possibility to realise it on your own without kneeing in front of any banker? Please... it drives me almost mad , no potential counterparty is willing to say it clearly, that's sooo silly they're just bunch of overgrown kids
I only use 20/1 leverage, and would be willing to use as low as 10/1. Leverage takes a move to the back in my priority list. Stable platform, honest broker are of vaste more importance. Thanks for the hints ,
then why don't you just open smaller positions? if they give you 50:1 (for example) and you use 20:1 with your deposit 1mln - you just open 20mln istead of the ->theoretical<- 50mln position if you want 10:1 ... just open 10mln... istead of 20mln and so on...
Let us know if you can find this, or what you think the closest is to this. Thanks 2. Of course, I want my funds protection to be guaranteed.