Discussion in 'Forex Brokers' started by chaos_trader, Jun 9, 2006.
is there any Pro Firms for the forex markets?
some names and reputations would be good
Please define "affiliate"?
What is your own capital?
Please explain why having the funds held at JPMorgan is any more secure? The danger is not the bank goes bust but rather yourselves and/or one of your big clients - thus the other clients suffer loss of their funds.
globalfx llc used to post here ... they were slammed by some ET people ... but might still be in business in nyc
many thanks for your response.
Could you please let me know what the capital of your firm is please - not the amount of business carried out but the actual capital.
What is the legal name of the name I would have to deposit funds in - ie the name of the firm that I would instruct my bank to wire funds to, obviously c/o JPM.
Also please explain in more detail your meaning of affiliate. As I am sure you are aware if someone wanted to act as an IB or introduce business to a firm then they do not need to be regulated, don't need any capital and yet could call themselves an affiliate ot similar loose term. Similarly another firm could be 100% owned by a large institution but be termed an affiliate. You will appreciate the two firms have very different credit ratings.
(I am not for one seond implying you are merely an IB but rather trying to illustrate that the term affiliate is rather meaningless)
Finally I see on your web site it says many other firms often ask you to state whether you want to buy or sell before they quote - I am not sure that is correct. You also say trades are usually confimred in seconds - is this right?
Separate names with a comma.