Agree. Most importantly a trader would require a very good platform that can facilitate the development of a profitable system, while using limited resources particularly when concerning minimum risk capital. So make a wise decisions by yourself.
With societe general we saw that only one trader blew up 7bln$ So you guys quoting oanda or ib or fxcm as safe with 50mln$ is just risky.. I am an ex refco client who was stuck in after they went bankrupt for more than 3 years...the good thing is i just received a check...the bad thing is the amount i received..43% of my balance! less the interest i lost if i placed my money in a regular bank account or traded it on any other financial markets. So today saying that 50mln$ for a broker is a guarantie is just rediculos...its sure more than the small brokers who have 1 mln$ or 2 in capital...but 50mln$ is not that high if we consider that some brokerage do inhouse tradings and if regulation and controle are not rigouros, a societe general scandale can happen to any of these...and go looking after your money than...I think its not the capital the only matrix we should be looking here...the capital protection is one a good matrix (sipi for instance) also another one whish shows a transparency of the brokers such as segregating clients accounts and the inhouse accounts, also a regulation by the nfa or any legal authority who guaranties that clients accounts should be protected in all means from any use for internal purpose that capital raise or margin call for the broker at a tiers party..etc ZC
Comandatore Registered: Jun 2005 Posts: 160 New Post 02-08-08 02:30 PM With societe general we saw that only one trader blew up 7bln$ So you guys quoting oanda or ib or fxcm as safe with 50mln$ is just risky.. I am an ex refco client who was stuck in after they went bankrupt for more than 3 years...the good thing is i just received a check...the bad thing is the amount i received..43% of my balance! less the interest i lost if i placed my money in a regular bank account or traded it on any other financial markets. All CFTC broker are not SIPC protected Divide accounts from small capital's use SEC broker (OXPS,SWIM,IBKR) , which offer trading with CFTC product ,after trading end,switch money to SIPC account
thank you ssss for your advice! what do you mean after trading ends (with cftc product) switch to SIPC account....do SEC broker offers SIPC accounts,?
thank you ssss for your advice! what do you mean after trading ends (with cftc product) switch to SIPC account....do SEC broker offers SIPC accounts,? Yes ,if you trade by SEC broker ,which offer CFTC future to end of the day you can switch cash from CFTC account to SEC account . SEC account protected untill 100 k$ -25 mln $ ,alsov in case if broker with clients money going illegal to columbia or thailand for 20 years Public noted broker ,which offer OXPS -www.optionsxpress.com SWIM -www.thinkorswim.com IBKR -this is not pure agent of principal ,traded against client interess through TMWD All have some 1 bln$ market value Attention ! Author have had legal issue with Thinkorswim owner (author won with court help) OANDA appel to mass public with she#s chart ,no more.She is market maker as IBKR www.mbtrading.com offer alsov good chart SIPC protected account and future with cheap price . But it is privat , and owner performed public lies on ET -stated ,that MBT is pure agency . It is not (read MBT client agreement - company undertake proprietary trading activities )
One thing more - the only 2 reasons why, really like Oanda are: -the ability to play microlots with a small initial capital, so You can learn Your emotions with real money trading, good for the dawn of a trader -5 sec charts - If You know a good method, they can give You an insight in structure of "emotions" of the market, which sometimes decides about several tens of pips lost or gained
************************* No any value . mbtrading ,hotspotfx offer ECN with 10 best bid ask + chart which you wish you can find alsov good chart by some future fX broker -transact ,cTS t4 & OANDA ,FXCM,GFT,FXSOL ,GAIN have most capital but SEC public noted broker which offer future fx have 10 time more capital OXPS ,SWIM ,IBKR INTRADAY margin offered for ECH8 is more as 1:100 ,it is better as by OANDA