Has anyone here used or even heard of http://www.fxtrader.net or http://www.forex-swiss.com There pages look impressive. And they are parteners. But I haven't heard much about them.
⢠2 pips inter-bank spreads on all currency pairs ⢠Margin: 500:1 and small minimum trade sizes as 10,000 USD ⢠No charging interest for open position (in non hedge mode). ⢠Opening accounts in multiple currencies ⢠Best trading platform with fastest trade execution ⢠One-click dealing: No re-quotes or price is out ⢠No Slippage on Market Orders - the price you see is the price you get! ⢠No trade rejections in fast market ⢠Guaranteed Fills on stop Loss and Limit orders judging from the above I doubt that they are covering trades in the interbank....................... Think about it. No interest, too tight spread to make money on spread for that size, guaranteed stops. The more cynical might suggest that it will not take long to blow out on 500:1 and if they are not covering the business then they will get the lot. As for the Swiss angle, check out capital adequacy rules for operating a financial institution in Switzrland. Less than you might think unless they have changed it.
No US Customer at the swiss firm. http://www.forex-swiss.com Chat InformationPlease wait for a site operator to respond. Chat InformationYou are now chatting with 'FXCH' FXCH: Hello! Jane is speaking. How may I help you today? you: I've been looking over your web site. And it's all verry intresting. I'm currenty a forex trader, wanna be ex forex trader with REFCOFX you: What protections does your company offer customers from your company becomming insolvent, and customers loosing their money, due to your insolvency? FXCH: We regret no US clients before we find US partners. you: Oh. Ok. Thanx.:eek: :eek: :eek: :eek: :eek: :eek:
Chat with http://www.fxtrader.net Chat InformationPlease wait for a site operator to respond. Chat InformationYou are now chatting with 'FX' you: Are US customers allowed to invest with you? FX: hello howmay i help you you: Are US customers alloed to invest with you? FX: good you: Are US customers allowed to invest with you? FX: yes you: Great. Right now I'm a wanna be Ex Refcofx customer. And I am looking for a company to trade with that has better protection for my account in case they become insolvent. you: Does your company have any such protections for an account that I would open up with you? FX: just hold FX: Yes, we insure all our funds you: Do you have a link giving me what insurance, or some more information, so that I can verify with some other than your company? FX: Please email us your full name so we can send you all information you: ZoneTrooper (I edit this out) you: Also, can customer collect interest on carry over trades? FX: we do not ask interest you: Do you pay??? FX: we will send you all information FX: no you: OK. Thank you. FX: ok, good bye
I think fxtrader.net very good broker and now they work with FXFD. Platform here http://www.fxfd.com/
They NEVER sent me the information that they said they would send. Maybe a good trader, but not so good customer service.
I just signed up for the new demo software, which I like very much. But if you look at a "History" window you will see that on overnight position they charge $20 per position. I went onto live chat and had the following conversation: FX: hello how may help? you: hi, I have a few questions about your new platform and rollover FX: yes FX: please you: i was using your demo account for a few weeks and now moved over to FXFD you: it seems that you now rollover the positions at a profit or a loss at 3am gmt? FX: just a moment you: and in the 'history' section there is a 'commission', but it doesn't seemt o be reflected in the 'remains' FX: ok you: and if so, then isn't the commission basically an 'interest' charge, which your website and previous demo didn't charge FX: can you send me history you: sure, what is your email? FX: please email to admin@fxfd.com FX: and your account number please and email for reply you: my demo account number? I have opened a live account but haven't funded it yet as I wanted to play with the demo first FX: yes your demo account pls you: do I have to disconnect? you: and reconnect to get it? FX: ok FX: yes you: demo00366 FX: thanks FX: just hold you: np, it was actually in the messages window as well FX: yes of course i saw your history.. we have swap buy 10 and swap sell 10 FX: so comission 20 you: but that is not reflected in the 'remains' and that is essentially a interest charge you: and that did NOT happen in the last demo frmo fxtrader.net you: 10. No charging interest for open position you: from the website FX: yes FX: because fxtrader now have new platform you: ? FX: and don`t update website sorry FX: fxtrader have a new platform if you know before fxtrader have ezc platform FX: and now iTrade FX: different conditions you: so for a full position of 100,000 you will charge 100 a day for rollover you: ? FX: only 10 you: and why isnt' it reflected in the 'remains' column? FX: 10 for buy FX: and 10 for sell FX: swap you: then why is the rollover 20 for 20,000? FX: yes FX: if 100000 also 20 FX: not % FX: only 10 swap buy and 10 swap sell FX: open/close with rollower 20 you: so no matter what the position size, it is $20 a day to maintain? FX: full position you: what does full position mean? FX: open/close FX: yes you: so if I have a 100,000 short postition, when it rolls over it costs me $20 you: ? FX: yes you: and if I have a 300,000 long position, when it rolls over it costs me $20 FX: yes you: why isn't that reflected in the 'remains' column? FX: now look FX: please send me your history with rollover comission to admin@fxfd.com you: I did FX: ok FX: now look you: have refreshed and no change FX: yes FX: thanks you: you receive the file? FX: yes FX: ok FX: thanks FX: mistake FX: i`ll send email to managers FX: but this time gmt you: why 3am gmt? FX: gmt time you: why 3am? you: isn't standard time 12:00am gmt? FX: hmm FX: i must ask managers FX: thanks for questions FX: i`ll reply you email FX: thanks FX: bye I am waiting for an email with explanation, but if anybody else has had a similar experience, please let me know. I'll try to post more info as I get it. Thanks, MathemaTrading