FX direct with DB

[Kicking]

Found this today:


http://www.dbfx.com/contact/apply-now.html;jsessionid=JHKJCHDNMCEA

25 K to open an account and you can trade with Deutsche Bank

Now FX must really be a cash cow for brokers if they let you open an account with only 25K. They must be pretty sure they will take your money.

What do you think?

 

[mortysill]

Quote from Kicking:

Found this today:


http://www.dbfx.com/contact/apply-now.html;jsessionid=JHKJCHDNMCEA

25 K to open an account and you can trade with Deutsche Bank

Now FX must really be a cash cow for brokers if they let you open an account with only 25K. They must be pretty sure they will take your money.

What do you think?

You're probably right. Their platform is white-labeled FXCM.

Regards
Morty

 

[local_crusher]

Do a search, there is a large thread about this.

Bottom line - and my opinion: the offering is no good at all. DB is backing your assets, but I think while DB is your counterparty on paper, you actually trade with FXCM and their quotes, like many other bucketshops.

 

[Hayek]

And try to check who is regulating and how it is regulating the DBFX (NOT Deutsche Bank), and how your funds is protected by the DBFX (NOT Deutsche Bank).

In Chinese we say don't stumble at the same place twice. Good luck.

 

[bl33p]

They don't pay interest on your balance either.

 

[Eagle Eye]

I really dont see the point of this thread, here is the link that has more info...........


http://www.elitetrader.com/vb/showthread.php?s=&threadid=69603

 

[Xenia]

Quote from Hayek:

In Chinese we say don't stumble at the same place twice. Good luck.

Same deal as with RefcoFX. Client money could be held with a different
entity somewhere offshore (e.g. Bermudas). Read #11 Client Money ...

www.dbfx.com/about-us/client-agreement.html