Hello, Does someone know how to avoid trading with retail forex brokers and trade directly with banks. I am familiar with Interactive Brokers and Hotspot, but is there a large, reliable company where one can trade as a professional, not as a retail customer? cheerio
Basically, I would like to know if there is anyone here trading with at least a million dollar account...where does one trade when one has so much money? I'd bee scared to put that into some bucket shop retail operation...
Yes, you can trade on CurrenEx. PFG Best, ODLS, Capital, Man, Fimat... all offer CurrenEx access. Other liquid quasi-ECN's include LavaFX and HotspotFXI. The above named brokers can give you access to these also. If you want access to EBS Prime try RBS, UBS, or ABN/Amro. Smaller broker-owned ECN's giving access to interbank liquidity include EFX/MB, CoesFX, and IB's IDealPro. The first two of these have sufficient liquidity for a $1 million account size. EFX/MB just placed first in Barron's survey of online brokers.
Saxobank isn't a bank. Denmark is about the only country in the world that would allow this FX dealer (aka bucketshop) to use the work "bank" in their name. Before you even think of trading with Saxo, use this forums search facility to do a little research on them.
Whatever you do just stay away from saxo. By the way does anyone here knows anything about Synthesis Bank in Switzerland. They use the same platform as saxo and customer services even sound the same as saxo lol. Probably saxo but in Switzerland with a different name..... another b.shop......