FXCM Response to FXCM/PropFX Rating

Not necessarily..read the details and choices offered by VCap for instance;

VCap..


Professional Accounts

FOREX Symbol Currency Pairs Spread Commission
EUR / USD Euro / U.S. Dollar 2 Pips $30-35 Million/None
USD / JPY U.S. Dollar / Japanese Yen 2 Pips $30-35 Million/None
GBP / USD British Pound / U.S. Dollar 3 Pips $30-35 Million/None
USD / CHF U.S. Dollar / Swiss Franc 3 Pips $30-35 Million/None
EUR / GBP Euro / British Pound 3 Pips $30-35 Million/None
EUR / JPY Euro / Japanese Yen 4 Pips $30-35 Million/None
USD / CAD U.S. Dollar / Canadian Dollar 5 Pips $30-35 Million/None
EUR / CHF Euro / Swiss Franc 5 Pips $30-35 Million/None
AUD / USD Australian Dollar / U.S. Dollar 7-10 Pips $30-35 Million/None
GBP / JPY British Pound / Japanese Yen 7-10 Pips $30-35 Million/None


* vCap FX is not compensated via the bid/ask spread for HotSpotFXr accounts.

** vCapFX is compensated through a portion of the bid / ask spread for GAIN Capital accounts.

Spreads: Bid/Ask spreads are dependent on market liquidity
Commissions: Determined by monthly volume transacted and clearing firm selected
Lot Size: $100,000 USD Per Lot
Min Trade Size: $100,000 USD Per Lot
Min. Equity: $7,000 USD minimum(HotSpot) and $2,500 (GAIN) required to open account.
Margin: 1%
 
As you can see, HotSpot FX is only a $7,000 dollar account minimum..I think that is not bad at all for a competent set up to trade clean without all the bucketshop BS.
 
Hotspot is, IMO, probably the best ECN out there right now not just for retail but institution as well. Spreads are pretty tight and there is no problem with the depth of liquidity either. It is used by hedgies and banks alike. In my other posts, I have stated how I use them primarily (along with IB) as my choice for currency executions. Bucket shops are crap, but most people learn fx trading starting with one of the ubiquitous shops. Most ECN's won't let you get started with $500 to test the waters and see if you want to commit your capital to this type of trading. I, and probably like many a people here, got their start trading forex using the FXCM model. I have found over the years that most people who piss and moan about FXCM are those who try to trade the news. This platform (and the similar dealing desk platforms that have to offset your trades) cannot provide a reliable system to allow anyone to scalp the NFP.

If as a trader looking to play this market but don't have the money or chops to play with the pros, well I can think of one or two reliable dd platforms to use that are well capitalized and provide a reasonably stable platform. O... what is that names?
 
BTW, most ECN's won't open an account with you for less than 50K, although that number seems to be giving way of late.
 
Quote from cstfx:

BTW, most ECN's won't open an account with you for less than 50K, although that number seems to be giving way of late.
More...
Do you have any examples?
 
Quote from ScapGF:

Do you have any examples?
More...

Dukas, FCStone, FimatFX (>50k), ADM, CapitalFx Pro,

MF Global has lowered their costs to 25K1

IB requires 10k to open an account.

MBTrading/EFX can get you started with as little as $400.
 
Quote from paboyy:

I should have listened to others when they were talking about how horrible a shop FXCM. I can honestly say that their systems suck and that they are the worst platform I have ever used in forex. If you want to lose money, go to FXCM. I tried to have my trades resolved because of ridiculous system problems, and I was told "there will be no adjustment to your account."

READ THE POSTS AND BEWARE!!
More...

You really have no credibility with this post. First of all you only have 6 posts and secondly you don't give any details. Now either you are just a disgruntled bad trader who refused to understand an explanation they gave you or you work for a competitor. Either way, it's extremely pathetic.
 
You must log in or register to reply here.
Back
Top