http://www.synthesisbank.com/ Does any one here know any thing about these guys? Heres a link to what I have found. http://www.cme.com/about/press/cn/05-104CMESynthesisBank14614.html This swiss bank allows american citizens to trade. Any info would be great. You can open an account with 2000CHF wich is about 1580$USD. And trade forex, CDF, spot, futures, nasdaq, and much more. Dave
Be cautious...If you want to trade different markets, I would open up 1 or 2 accounts with VERY reputable brokers. Oanda, IB, Thinkorswim.... -Kastro
Thanks Kastro.. I have read all about oanda and IB. Both only offer 50:1 leverage. That would be great, if I had 20-40k capital to start with. I took 250$ and turned it into 5k on fxcm mini. Now I want to take that 5k and open a standard. But not with a bucket like fxcm. And not at 1/2-1/8 of the leverage. I want 400:1 leverage but will settle for 200:1 standard. I know these aren't the only 2 reputable brokers on this planet. I know this site are big on IB and oanda. But there needs to be other choices. Thanks again Dave
I have heard FX solutions is a good one...But I have not traded with them...but I have daily conversations with those that do...they seem alright...
Of course not. However, I very seriously doubt that you will find any "reputable" forex dealer / market maker (they are not brokers, you know) on this planet, offering 400:1 or even 200:1 leverage. 100:1, yes... that's it. Others might disagree, based solely on their individual lack of negative personal experience, but this is my strong, facts-based belief. You're aware, I hope, that Oanda's initial margin is 2% (50:1 leverage) and maintenance margin is 1% (100:1). By contrast, dealers with 400:1 maximum leverage don't draw such distinction and will liquidiate all your positions the instant you touch 400:1. Practically speaking, you are limited to much smaller working leverage than 400:1, perhaps as little as 100:1 - 150:1, depending on variables such as your stops (if any), currency pairs traded simultaneously, their volatilities and correlations. That's maybe 2-3 times (not 2-4-8) higher than Oanda, etc. ... a significant difference, to be sure, but one that needs to be weighed agains all other factors. For example, if you are trading with a 400:1 dealer and entered a few trades, for a combined 200:1 leverage, as little as a 25-pip average adverse move (for the USD majors) will get you to 400:1 and therefore trigger an immediate account liquidation, for a 50% total loss -- unless you manage to close some of your positions manually before that event. (As opposed to a 200-pip adverse move it would take to involuntarily go from 50:1 to 100:1.) Can you guarantee that your strategy will never experience an adverse move averaging just 25 pips across the pairs? Incidentally, if your experience is limited to a mini forex account with FXCM, why do you care about "CDF, futures, nasdaq and much more"? Why not stick to the one asset class you've done so well with? Or maybe your spot strategy is transferable to currency futures? If so, I'd look into that alternative. Even someone like IB offers you 90:1 to 140:1 on those, intraday. Other futures brokers, many of which would be considered "reputable", offer intraday leverage several times higher than that.
as usual... thanks, "late apex" for your educational posts...I was not aware that the other dealers managed the leverage this way...I knew about the net 100:1 maintenence with Oanda as they are the only marketmaker I have ever used. snip from late apex post above Practically speaking, you are limited to much smaller working leverage than 400:1, perhaps as little as 100:1 - 150:1, depending on variables such as your stops (if any), currency pairs traded simultaneously, their volatilities and correlations. That's maybe 2-3 times (not 2-4-8) higher than Oanda, etc. ... a significant difference, to be sure, but one that needs to be weighed agains all other factors.
Thanks for your input. I have an example here of 34% accuracy over 2 weeks with 400:1 leverage. http://www.mindsofdesign.com/xxdavidxsxx/cmsandmgaccounts.htm 2 examples of 400:1 leverage. 1 is a well traded disiplined week at 75% 1 is a poorly traded 2 weeks with little disipline. 34% 75% made 200% account size in 1 week. 34% made 100% account size in 2 weeks. These are just examples of money management with 400:1 leverage. I made all the trades my self. I do not need a lesson in money management . Or account management. High leverage is simply using less of your account for margin. 50:1=2k 100:1=1k 200:1=500 400:1=250 so is I open a standard with my little 5k and place 1 lot, I just leveraged 1/5 of my account and 2 lots almost half.(50:1) But same account with 400:1 leverage my 1 lot position size is 250$ wich is only 5% of my account. A 25 pip s/l is risking 5%. And the way I trade it wont take 2 weeks befor I am only risking 2%. I used to risk half my account on mini. But not on standard. Like I said I took a mini from 250$-5k. With 200:1 leverage and on FXCM. If I can trade around the BS, platform freezing and price spiking, then I should do really great without those kind of obsticals. I have interbank group giving me a STP account with a letter from world wide clearing(IBG's firm) stateing that I am on a STP account.(400:1 leverage and scalping isn't a problem) {stp= streight through processing}No Desk I would simply like to explore over seas brokers so I can build an account that I can access outside the states and avoid capital gains tax. Besides.....I was wrong about synthesis....they only offer 50:1. You should have pointed out that. Then I could have looked dumb. If I don't get my letter as promised I will go with MG Financial. Dave edit: o'yea...I only trade fiber....And if I do trade another its cable. And only 1 pair at a time. Besides how do you suggest trading more than 1 on a 5k account anyways. I use the term "broker" loosly. I am sure you can show me your more educated on the markets than me My 1.5 years exp. is small. And my education level is not even highschool. But I am not in the 85% that fail.
Hey Elect. Fxsol is not much better than gain or fxcm. I consider those 3 equals in that there buckets. Dave
I appoligise to the forum for this thread. I found out there leverage is to low any ways. But In all my searches synthesis has no viable complaints. The moderater can delete this thread. And I appoligise if my responce offended any one. Dave