Being your own forex broker - possible?

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dc101

Being your own forex broker - does anybody know what's involved in becoming one? I mean to be directly trading forex instead of going through brokers like FXCM, GFT, Oanda, etc?

Thanks in advance.
 
Quote from dc101:

Being your own forex broker - does anybody know what's involved in becoming one? I mean to be directly trading forex instead of going through brokers like FXCM, GFT, Oanda, etc?

Thanks in advance.
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How much money have you got?

When I first started out (before the proliferation of retail bucketshops) I had two bank accounts at Barclays, one in sterling (GBP) and one in US Dollars and I simply converted GBP to USD and back again. The spreads were >100 pips and the transaction costs were crazy but somehow I still seemed to make a few bucks! It was when I finally got the direct telephone number for a dealer that I really thought I had arrived :)

True story!
 
Quote from dc101:

How much money would I need?
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I understand that you are unhappy with bucketshops and FX brokers

who wouldn't be
but why wouldn't you trade FX with IB
give me one good reason
and I'll tell you how to be your own broker
 
Quote from Ribs:

I understand that you are unhappy with bucketshops and FX brokers

who wouldn't be
More...

Me! I love my bucketshop, I send them a Valentine's card every year :)

Super leverage, instant fills, lagging quotes....what's not to like!
 
Quote from Ribs:

I understand that you are unhappy with bucketshops and FX brokers

who wouldn't be
but why wouldn't you trade FX with IB
give me one good reason
and I'll tell you how to be your own broker
More...

I'm just trying to learn/understand how the business works - is it such a problem to explain?
 
Quote from cabletrader:

Me! I love my bucketshop, I send them a Valentine's card every year :)

Super leverage, instant fills, lagging quotes....what's not to like!
More...

did you say lagging quotes ??????
am I reading this correctly
 
Quote from dc101:

I'm just trying to learn/understand how the business works - is it such a problem to explain?
More...
I see you have an IT-background from your other posts. Imagine me buying a computer for the first time, I start it up, I see Windows, I don't like it as it seems much too quirky and it crashes too much. So I post here somewhere that I heard about programming languages and that it should be somehow possible be make my own operating system. For the rest I really don't know anything about. So couldn't someone tell me about those programming languages and help me build my own operating system so I don't need these software vendors ...
it's about the same question ...
now why wouldn't someone want to help me and start to explain what I would need to do ...
 
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