Shopping for a new broker

Discussion in 'Forex Brokers' started by cking74, Aug 15, 2006.

  1. cking74


    Hello all,

    I am currently with fxcm but I am looking for a new broker for a couple of reasons, including better execution and guaranteed funds. So, I have looked at two brokers but have found some weird quirks that I need help with.

    DBFX. I was attracted here because they claim to be a division of Deutsche Bank, how much more secure can that be, a major international bank. Then I realized that their platform and data feed is the exact same as FXCM. I asked FXCM and they said there is a undisclosed partnership, I asked DBFX and they said there is no relationship. Anyone know what the deal is?

    Man FX of Canada. Claims to be part of the Man Financial Group and that funds are guaranteed by the Canadian govt., eg FDIC. But again you trade through the FXCM platform.

    Has FXCM secretly taken over the forex world?

    Seriously, if anyone can explain this I would appreciate it.

    I looked at IB, but could get no one on the phone, a foreboding problem to me.

    I also looked at MB, but no guarantee and the platform looks a little mickey mouse.

    Thanks again for any help.
  2. 168


  3. RedDuke


    Oanda is the best MM in foeex, but you would be much better off if you switch to currency futures.
  4. I have got some very good fills using interactivebrokers. If you use there platform you can also trade other products (almost all of which are easier to trade I think you will find).

    Does anybody out there use the Deutsche Bank platform? I would like to know what you think of it. If you could link it up to other banking products it could be a very effective way to run a hedge book. I guess I mean if they would give you notice to move cash from you bank account of line of credit to your brokerage account to make margin calls, instead of liquidating like IB does.
  5. cking74


    Appreciate your comments but I am looking more for an explanation of the relationship between FXCM, DBFX, and Man rather than a recommendation for a different broker.
  6. 168


    dbfx and man canada both are whitelabel of fxcm , get it ?