Large Forex Accounts

S

StockKJay

Hello Elites,

Great forum here, I have been back searching messages and have found some good stuff. Though my heart lies with equities, I have branched into foriegn exchange and like what I see. From what I have read and found with research, I have several brokers in mind. My current brokers of choice would be MB Trading, Interactive Brokers, HotSpotFx (retail), Dukascopy and ODL Securities. These brokers have 25k or less as a required deposit. I would like to go bigger.

**I have a couple questions for a few of the bigger traders here I would love to have answered.


1. I want a broker/bank to trade FX that has a minumum requirement of no less than $50k - $100k initial deposit.

2. Of course, I want my funds protection to be guaranteed.

3. Does not discriminate against scalping or news trading :mad: .

4. Obviously has competitive spreads and commissions - not too big of a worry.

5. *Bonus would be API availability that can be connected with Bloomberg or Reuters news feeds. - Only a bonus :).

Thanks a bunch gentlemen,

Kevin
 
100k is not large by fx standards. If your talking 7 figures+ then I would say take a look at this:

http://db.riskwaters.com/data/FX_Week__subs_only_/Vol_15_No_46/survey.pdf

Barcap or DB look good (best banks for e-trading - corporate). Actually go to Barcaps site and check out there demo - they used to have a nice presentation of it on their site (no longer), and it looked great (swaps, forwards, options, swaptions and other exotics all available), max $100m spot eur, without RFQ.

Failing that, if security is your biggest concern (and you feel that IB and O are "risky" for you), DB retail. (shite spreads though...)
 
Quote from NZDSPeCIALISt:

100k is not large by fx standards. If your talking 7 figures+ then I would say take a look at this:

Of course 100k is not large. However, how many FX traders on this site are trading $100k accounts? My only reason for the topic statement was to try and limit posts suggesting bucket shop retail MMs.

Oanda is the best MM from what I can tell, yelled at me when I traded heavy lots on news. Pathetic IMO.

Thanks for the rec.
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Quote from NZDSPeCIALISt:
http://db.riskwaters.com/data/FX_Week__subs_only_/Vol_15_No_46/survey.pdf
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greetings

and sorry for the maybe stupid question,
but do they offer any leveraging?
I can't really find it anywhere.
I've heard you have to talk to your bank and get a so called "credit line" or something

isn't there really anybody who gives the jumbo-investors at least 100:1 leverage or the possibility to realise it on your own without kneeing in front of any banker? :p

Please... it drives me almost mad :D , no potential counterparty is willing to say it clearly, that's sooo silly
they're just bunch of overgrown kids :)
 
Quote from tropiciel:

greetings

and sorry for the maybe stupid question,
but do they offer any leveraging?
I can't really find it anywhere.
I've heard you have to talk to your bank and get a so called "credit line" or something

isn't there really anybody who gives the jumbo-investors at least 100:1 leverage or the possibility to realise it on your own without kneeing in front of any banker? :p

Please... it drives me almost mad :D , no potential counterparty is willing to say it clearly, that's sooo silly
they're just bunch of overgrown kids :)
More...

I only use 20/1 leverage, and would be willing to use as low as 10/1. Leverage takes a move to the back in my priority list. Stable platform, honest broker are of vaste more importance.

Thanks for the hints ,
 
then why don't you just open smaller positions?

if they give you 50:1 (for example) and you use 20:1
with your deposit 1mln - you just open 20mln istead of the ->theoretical<- 50mln position

if you want 10:1 ... just open 10mln... istead of 20mln and so on... :)
 
Let us know if you can find this, or what you think the closest is to this. Thanks


2. Of course, I want my funds protection to be guaranteed.
 
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