Deutsche bank retail fx platform

Xenia · May 23, 2006

Lesson learnt so far:

BEARFX ok; UBSFX ok; DBKFX not ok.

Dealing with DBKFX may get you into trouble.

Quote from: www.elitetrader.com/vb/showthread.php?threadid=68101

So I called IB and they said that the order from 10:01 had been filled and the reason that it didn't show up anywhere in TWS until 10:38 was that Deutsche Bank was having "booking issues." He said that I was stuck with the 43 pip loss and there was nothing IB could do about it.

misha7 · May 23, 2006

What a laugh...

all the retail fOWrex traders pronouncing judgements on DB, UBS, etc.

fader · May 23, 2006

i have taken a look at the site - we have a German bank; its London branch acts as offering the product; UK FSA regulation; and the main contact support / application processing in New York - can this get any more "international" (i guess it's the world of borders-free forex, after all)

Xenia · May 23, 2006

Main contact support / application processing in New York.

Maybe they use Ex-RefcoFX staff and office space.

JibJab82 · May 27, 2006

Quote from Xenia:

Lesson learnt so far:

BEARFX ok; UBSFX ok; DBKFX not ok.

Dealing with DBKFX may get you into trouble.

Quote from: www.elitetrader.com/vb/showthread.php?threadid=68101

I hope you're really not serious. Do you honestly believe that a retail broker is really going to take the blame? It's called passing the buck.

Xenia · May 28, 2006

11. CLIENT MONEY

11.1 Your funds will therefore be held in an account with Deutsche Bank AG, London Branch or in an account at another bank approved by us and if held at another bank will be segregated from our own funds.

11.2 We may hold funds you deposit with us with a bank located outside the United Kingdom or pass money held on your behalf to an intermediate broker, settlement agent or Counterparty located outside the United Kingdom. The legal and regulatory regime applying to any such approved bank or person will be different from that of the United Kingdom and in the event of the insolvency or any other equivalent failure of the approved bank or such person, your money may be treated differently from the treatment which would apply if the money was held in the United Kingdom.

Bitstream · May 28, 2006

Quote from Xenia:

gee...after all this u have to be a complete nutzer to send 'em any kinda money.

Eagle Eye · May 28, 2006

Quote from Xenia:

and.....

If you deposit money into any bank it does not mean your money is physically held at specific branch.

Bitstream · May 28, 2006

Quote from Eagle Eye:

and.....

If you deposit money into any bank it does not mean your money is physically held at specific branch.

ya but the bank takes responsability in case u money suddently "disappear" because the entity your cash was deposited went bust or whatever.

Eagle Eye · May 28, 2006

Quote from Bitstream:

ya but the bank takes responsability in case u money suddently "disappear" because the entity your cash was deposited went bust or whatever.

But in this case you send money to DB and you will hold them accountable if anything goes wrong, if entity goes bust then sue DB for negligence.