FXCM hmmmmmmm.
- Thread starter Girlpower
- Start date
Gods, im simply pointing out what some might think are more attractive/serious brokers for those who are unsure about the likes of FXCM and others mentioned that are creating allot of discussion. Part of discussing is pointing out the varying options available. No I dont work for them, no I dont have a account with them, whats the big problem with just letting people know about a option???
I dont see any diff between fxcm and saxo if talking forex. And they are no different in any service (talking forex). Personally, if I was asked, for forex trading I would prefer fxcm/refco to saxo. Saxo has very "carefull" retes. I.e. lows are not as low as fxcm/refco and highs are not as high (btw same with cgi - tighter range). For my trading I prefer to get higher and lower...but then - its me only.
GL.
GL.
Quote from OddTrader:
Did someone mention before in another thread about there are some differences between spreadbetting and CFDs?
Are they both market makers/ bookmakers? (What are the differences again, anyway?)
With a spread bet, basically you are placing a bet against the company on the other side that the market or a stock is either going to rise or fall. They spreadbet company set the price, and move it around according to their own risk. It doesn't necessarily reflect the true price of the underlying market, and usually has quite a large spread allowing for quite a bit of price skew that they can use to protect themselves. The person placing the bet on say XYZ stock, is not involved in the stock itself, not is the spread bet company, they are simply betting against one another.
Contracts for difference are basically a way of buying/selling stock on a heavily margined/leveraged basis. The company providing this service generally buys/sells the underlying stock in the market for their own underlying fund, and passes on the ability to the trader to trade it without having to carry the full price of the stock. The person buying the CFD is basically buying into the changes in price on the underlying on a leveraged basis, and does recieve such things as dividends due etc. They will pay a wider spread than that in the market to get it, but will avoid the .5% stampduty on the purchase and will also have lower capital tied up in the position.
This is the short version. The full version of the difference between spreadbets and CFD's will run into a book virtually.
What FXCM are doing sounds very like spreadbetting in the currency markets...
Best
Natalie
I'm not talking based on limited xp or observation. Its no secret also. Just take a look at saxo and refco today...Quote from OddTrader:
Spread (or else)?
I would think it's hard and very hard to evaluate (judge?) the real-time spraed if based on our limited experience and knowledge learnt from merely web site information or demo software/datafeed, I just guess.
saxo:
euro high 1.1382, low 1.1310
refco:
euro high 1.1386, low 1.1304
Same on other pairs.
Thats what I ment.