Deutsche bank retail fx platform
- Thread starter misha7
- Start date
Whilst I wouldn't open an account with DB retail - I think 2cents is right to suggest that at least their is now a credible bucketshop - some people are happy to pay extra for the security that comes with having their money parked in a bank like DB. They have the franchise (in the form of a prestigious name and credit rating), and they are charging a premium for it. To a swing trader (or someone that shoots for more than 50 pips a trade) 1 or 2 pips is not that drastic and they can sleep at night knowing that the chief executive ain't going to do a Refco on their money. How many retail fx brokers can you say that about?
Nevertheless their spreads ARE shite. Also, it remains to be seen how much of a bucketshop they will actually be in practice (re slippage, stop hunting and all of those practices). I for one hope that this initiates a bit of a shakeout in the bucketshop world.
Nevertheless their spreads ARE shite. Also, it remains to be seen how much of a bucketshop they will actually be in practice (re slippage, stop hunting and all of those practices). I for one hope that this initiates a bit of a shakeout in the bucketshop world.
it is still modelled like a boiler..u need new laws and regulations not a supposed big name come into da game..i mean look at ib; db provides liq for ideal pro and yet they do whatever they wish to do with their quotes and apprently with costumers orders..forcin' buckets to hedge wud be already a first decent step, eliminatin' da first and foremost conflict of interest.
What I'm saying is that their are people out there (rightly or wrongly) who would rather have their money in DB as oppossed to IB, and they will happily pay for that. Perhaps the risks to their funds are virtually the same in both examples, and DB is exploiting that, but then other banks will follow (because charging 3 pips on the Euro/ 4 Yen - you can bet it will be a big money earner), will bring in more competition from other banks, and improve the whole status quo - long term. I gather from your posts on this that you say "shame on them (DB) using their name to prey on innocent investors" (I have the same thoughts) - well thats just they way things go sometimes - retail forex is still in it's infancy.
After the Refco debacle, consumers want to perceive security, so in the long run that may yet bring further funds into the markets.
Who? Danish Banks:eek: ?? On the retail level they arn't too many. DB, Citi, UBS, RBS, Barcap, HSBC et al. are all for the well healed ($1 mill. acc. + minimum monthly volume requirements). Try go open an account with $250 000 and these banks will politely show you the door.