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You can always count on the fear mongers coming out of the woodwork with doom and gloom scenarios to comment on things they are incredibly unqualified for. When the deal goes through, quite a few people on this board are going to look awfully stupid. Just to make clear where we are instead of...

Remember that the point of this auction is to benefit the creditors as much as possible. The dates are being changed so the most qualified parties can attend, around the holidays that always tough. Considering the fact that this scandal is only a few months old they are moving at light speed...

Its is irrelevant where they are held in 4761 or in Bennett’s account in the Caymans. The point is that the proceeds of FXCM buying RefcoFX go to funding the customer accounts and making them whole. If the transactions goes through RefcoFX clients are whole, if FXCM does come in and save them...

Nitwit, still 100% true, etch it in stone. Prepare a written apology when the deal goes through and remember where you heard it first. Please stop posting, the adults are having a discussion. Trader/God

As I’ve already explained in this thread http://elitetrader.com/vb/showthread.php?s=&threadid=58659 currently the RefcoFX funds are still safe and sounds at RefcoFX. FXCM has made an offer to buy out RefcoFX, if the transaction goes through the proceeds will be used to make RefcoFX customers...

Why would any broker provide you with a way to circumvent their charges while leaving them with odd lots all over the place? The FX market has gotten along fine with out such a silly system in place. If you want GBP buy it, if you want JPY then buy that. So to answer your question, no brokers...

As an update, the date to set the auction for Refco FX has been pushed back to the 9th. Most likely there will be no new news before then. This will not be the auction itself, this will just be the date they determine when the auction takes place. Trader/God

Man Group already has offices in Chicage and New York. They pawned the London unit off to Marathon. They are cutting the fat quickly. Trader/God

1. I’m not sure what you mean by the first question. You can trade spot FX or futures, but I’m not sure if that is what you are asking. 2. The short version: Yes, there are many market makers and opportunities for arb. There is no central exchange for spot FX trading. Think of it as...

I agree with most of these, you should also consider an ECN type of platform from a large currenex user, especially if speed is important. Charts are not a reason to choose a broker. Most brokers have their own charts but having charts integrated with your trade platform will only slow it...

Man Group got a steal on the firm. The deal did not include the regulatory capital, which can be thought of as cash on hand. So instead of paying cash for cash it was left in place. This allowed the deal to be valued at over $1B even though nowhere near that amount changed hands. The total...

According to FXCM's press release the money they are paying for RefcoFX is going to be used to fund the customer accounts. So if this transaction goes through it won't matter (at least as far as the customers are concerned) they will get their funds regardless. The deal has been proposed with...

There is a hearing this Friday to determine the auction date. Other than that no news. Trader/God

"FXCM's promotional material also included numerous claims of "zero commissions" and "commission free trading." These claims implied that FXCM did not make money on the trade..." Whoa I thought this was satire at first! Haha, so essentially the NFA thinks people were dumb enough to...

You’re right, I wasn’t clear, you would most likely know in advance that the spread would widen because it usually happens during on the release of fundamental events. You’ll still get filled, but with a big spread (the spreads tighen up quickly, usually less than 30 seconds). You won’t...

Yeah, most brokers either are not telling the truth or have a carefully hedged answer about their "guarantee." Drasfs, where did you end up going in the end? There are some disadvantages to an ECN and it probably varies by broker, some that I've noticed: 1. Technology - You need a decent...

Try an ECN type of platform, you'll get feeds from several banks and better fills than a single dealing desk counter party. Here is what will not happen no matter what your broker: 1. Stops and Limits are NEVER unconditionally guaranteed. If the market gaps over your price then you get...

For how long? Any firm that relies on technology will, at some point, experience issues. Even the NYSE and NASDAQ have been "down" at various times, it happens to everyone. Once it is more of a habit than an act you should look for a new broker, or at least one that lets you call in trades...

The fact that a trader would have to consider such things means they are not going to work. Do you know how well capitalized Ameritrade is? No of course not, because if they went under your funds wouldn’t be at risk. Either of two things will happen in the Spot FX market: 1. Regulation –...

400:1 is for brokers who have a stake in blowing up your account 200:1 is (for the most part) only for mini accounts, but more than most people need 100:1 is what normal brokers will give you Bottom line, if you are getting pitched 400:1 as a reason to open an account with a firm, its...