Best Spot Currency Dealer?

Has anyone had any experience with GCI Trading? They deal Forex, and the CFDs look interesting. However I am a bit leery of sending money to Belize.
 
Frogy:

I don't believe GCI is accepting accounts for US residences. You will find better market makers like GAIN, CMS, or REFCO is you do the volume. Good luck.
 
These online forex firms are making a market in the currency. An adverse and large move can cause the firm to take a big hit to its capital if they did not layoff the risk of taking the other side of their client's trades.

For these online forex dealers, are you comfortable with the risk that they may blow up?

What protection do you have that you won't lose your money in this event?

From my understanding, the funds are not held by a 3rd party clearinghouse. While the funds on deposit at the forex firm's bank are SIPC insured, what happens if the forex firm goes bankrupt?

Will you get your money back?

Thanks.

-- ITZ
 
you are concerned about the firm itself blowing up

hmmm .....

guess thats one Q to ask the individual firms themselves and not here ....
 
Can anyone explain me why you would use a spot-dealer instead of the futures in something like euro/usd ? I can think of no valid reason.
 
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