dbFX / FXCM / RefcoFX...does it ever end??

T

texasfx

If you haven’t figured it out by now dbFX (Deutche Bank) is an FXCM white label. Exactly how RefcoFX was an FXCM white label.

Now I don’t have a problem with white labels, but I do have a problem with the dishonest reps I constantly talk to.

Asking a dbFX rep about their relation to FXCM, they will LIE to you straight out that they are not related to FXCM. When absolutely pressed about the similarities of the trading stations, they will finally give in and admit only to "licensing" FXCM's software.

Here is how I caught them red-handed:

1) Ask dbFX for a mailing address, to send a check to. You get the same address as FXCM.

2) This is what really pissed me off. You can talk to a rep for hours about how safe your money is, how reputable DB is, and how he 100% is not FXCM. Do this and ask the rep his full name. You can go to the NFAs website and do a search on registered people. (http://www.nfa.futures.org/BasicNet/)

$100 says the "db rep" you were talking to is registered as an employee of FXCM.


If they have no problem lying to your face about who they work for, what else are they lying about??? Beware...
 
Old news...

http://www.elitetrader.com/vb/showthread.php?threadid=75287

http://www.elitetrader.com/vb/showthread.php?s=&threadid=74641&highlight=dbfx+fxcm

The NFA bit does add a new twist though. Compare this email sent to me by Michael Mirarchi when I asked if there was any association between dbFX and FXCM:

A few things to note:

1 - Your trading/execution is with Deutsche.

2 - Your funds are held with Deutsche.

3 - Your receiving Deutsche's prices.

4 - Deutsche is the counter party to your trade.

These should be the paramount issues to you.

As far as location, I have not checked the directory, however I believe there are also some tier 1 banks in the bldg as well.

with this:

http://www.nfa.futures.org/BasicNet/SearchResults.aspx?type=indv&lname=MIRARCHI&fname=

Busted!
 
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