Discussion in 'Forex' started by CPTrader, Sep 19, 2003.

  1. Any expereinces with RefcoFX or RefcoSPOT or GAIN Capital.

    RefcoSPOT is an online exotic FX option trading platform. Quite intersting. Any experiences, comments? Any things to be wary of with online exotic FX option trading? Any way to get a comparable quote, say an online exotic FX option calculator?

  2. rezo_s


    I dont think there is something to be warried about, as refco is pretty serious organization, and I think this option trading is not bad at all...
    As calculation - doesnt the platform do it? Anyways, tell me what kind of calculator are you talking about - maybe I can give you a tip.

    best wishes
  3. Trajan


    Very interesting. Does anybody trade this? What are spreads like? I was reading through the Wilmott book over this past summer and found these types of instruments fascinating. It seams like they could very easily be traded as a listed product. I assumed they were out of my league because of their OTC nature, guess not.
  4. TigerO



    Apparently REFCOFX and FXCM are the same, at least they share the same address:

    Forex Capital Markets
    Financial Square
    32 Old Slip, 10th Floor
    New York, NY 10005 USA

    RefcoFX New York
    Financial Square
    32 Old Slip, 10th Floor
    New York, NY 10005

    Check this out, he's referring to REFCOFX:

    "posted 04 May, 2004 14:38 My two cents' worth on this topic:

    Playing the Refco demo account, I found that my buy/sell orders were frequently rejected because the price had moved within the two or three seconds it took the Internet/Refco server to process the request.

    Again, to anyone complaining about slippage, I invite you to experience the frustation of having your attempts at buying and/or selling a currency DENIED, and denied again, and again, and AGAIN, because oops!, the price has moved. ";f=16;t=001968;p=2

    Also read this here about FXCM:
  5. TigerO


    I've heard good things about Saxo but have never traded there.

    But also give a try.

    They have a board where nothing gets deleted, so everything is very transparent. What I like are the small spreads and the fact that you don't have fixed position sizes, you can trade as small as you like, or as large as you want up to 10 mill.

    Tiger, satisfied customer.
  6. TigerO


    According to the info in the quote below posted by Moneytec member "bearprofits" (not my spelling mistakes, lol) looks like one of the reasons FXCM/REFCOFX have such huge spreads is because unbelievably enough they may actually possibly pay kickbacks for referrals:

    "FXCM Customer Agreement/ Referral Disclosure/ #8

    Client understands and acknowledges FXCM may comensate Reffering Agent for introducing Client to FXCM and that such compensation may be on a per- trade basis. Such compensation may incur a mark-up, above and beyond the ordinary spread generally provided by FXCM. Further the Client has the right to be informed of the precise nature of such compersation."
  7. TigerO


    #10     May 6, 2004