Newbie question for froex traders

Discussion in 'Forex' started by trader333, Nov 18, 2003.

  1. rezo_s

    rezo_s

    Yes, I know - noone will insure your investments - maybe soe=me little part of it...
    I actually had an unpleasant discussion with some very selfish newbie cusing Refco of being the worst broker. why? because they refused to take him as a client (to think what kind of person he was that even in such a competitive enviroment and the way fx industry is becoming popular!!! broker wouldnt like to work with a new client)...anyways that one had an attitude to argue with me about refco being a bad company and that it is best to trade with banks such as CBFX where funds ae insured :D the poor guy didnt know that I work with both Refco and Commerce bank - anyways that didnt keep him form being as rude as it is when I told him that cbfx will not insure the money as well. :( what a shame.
    As I said - noone will insure your money, bcos this is a market place...
    I didnt get into it and cannot say 100%, but I doubt that at least in retail forex you can find broker to ensure ALL your funds. Once again, I cannot say for sure.
     
    #21     Nov 19, 2003
  2. According to the web site, I wonder that CBT alone (banking/saving-deposits), and CBFX LLC - a FX market maker (investment/margin-deposits) are two separate entities, legally and financially.

    However, it mentions (for its IB program) " Commerce Bank & Trust has been in business since 1955 and is the only commercial bank in the USA offering retail margin trading in the spot FX market. As a commercial bank we offer your clients both security of deposits and greater leverage. "

    Let us know if you've got more details. :cool:
     
    #22     Nov 19, 2003
  3. fxtrdr

    fxtrdr

    bankforextrading.com is , are unlike stock clearing firms is known as IB, the accts are opened in your name at .www. bankatcommerce.com a 48 yr old bank .
     
    #23     Nov 20, 2003
  4. fxtrdr

    fxtrdr

    bankforextrading.com is , similiar to, but not like a stock clearing firm, it is known in Forex as an IB, the accts are opened in your name at .www. bankatcommerce.com a 48 yr old bank .
     
    #24     Nov 20, 2003
  5. cvds16

    cvds16

    if you trade euro/usd intraday you must be crazy to go with one of these brokers, spreads are 4-5 pips, futures 3 or less and you can sit on the bid or ask.
     
    #25     Nov 20, 2003
  6. That means they all are just the same bank (with different web sites):

    CBT (Commerce Bank and Trust)/ CBFX (Commerce Bank/Trust Foreign Exchange) http://www.cbfx.com/;

    and

    The 48 years old bank www.bankatcommerce.com .

    :confused:
     
    #26     Nov 20, 2003
  7. rezo_s

    rezo_s

    www.bankatcommerce.com is a webpage of Commerce bank - it is for baking purposes.

    www.cbfx.com is a currency trading offering page of same bank...

    when you go to cbfx.com website and on the menu you go to "about CBT" -> " Commerce bank" - you are directed to Main bank website...that is the whole story...

    ;)
     
    #27     Nov 20, 2003
  8. Interestingly, another "Commerce Bank and Trust" http://www.cbtks.com (FX?),

    which is located at Main Bank--
    3035 SW Topeka Blvd.
    Topeka, KS 66611
    Phone: 785-267-8900
    http://www.cbtks.com/contact_us/index.shtml

    http://www.cbtks.com/interactive_cbtks/locations.shtml

    , cannot be found from the branches (all located in MA) below:

    http://www.bankatcommerce.com/branches/BranchLocations.asp

    :confused:
     
    #28     Nov 20, 2003
  9. rezo_s

    rezo_s

    I think there is more than just in MA and the branches you see there.
    FDIC shows ( http://www3.fdic.gov/sod//sodInstBranchRpt.asp?rCert=17484&rYear=2001) 10 brunches, wheras on commerce bank website there are already 11. Maybe its a new site, maybe something else. It also says that Holding Company is
    COMMERCE BANCSHARES CORP. ...
    If you make a search in Google on Commerce bank.. you get a lot of it. :eek: http://www.google.com/search?q=Commerce+bank
    I was once interested in that issue (in the begining), but then I said - 10 brunches in MA, FDIC registered, +$860 000 000 in assets, excelent execution - is enough not to dig anymore. Plus several very serious investors gave me good recommendations...so it was enough for me not to spent time on that issue anymore.
     
    #29     Nov 20, 2003
  10. Are you (Is anyone) trading with these two? Any comments?

    Your feedback would be appreciated. Thanks in advance! :)
     
    #30     Nov 20, 2003