Looking for a Better FX Broker/Dealer

• 2 pips inter-bank spreads on all currency pairs
• Margin: 500:1 and small minimum trade sizes as 10,000 USD
• No charging interest for open position (in non hedge mode).
• Opening accounts in multiple currencies
• Best trading platform with fastest trade execution



• One-click dealing: No re-quotes or price is out
• No Slippage on Market Orders - the price you see is the price you get!
• No trade rejections in fast market
• Guaranteed Fills on stop Loss and Limit orders

judging from the above I doubt that they are covering trades in the interbank.......................

Think about it. No interest, too tight spread to make money on spread for that size, guaranteed stops. The more cynical might suggest that it will not take long to blow out on 500:1 and if they are not covering the business then they will get the lot.


As for the Swiss angle, check out capital adequacy rules for operating a financial institution in Switzrland. Less than you might think unless they have changed it.
 
No US Customer at the swiss firm. http://www.forex-swiss.com

Chat InformationPlease wait for a site operator to respond.
Chat InformationYou are now chatting with 'FXCH'
FXCH: Hello! Jane is speaking. How may I help you today?
you: I've been looking over your web site. And it's all verry intresting. I'm currenty a forex trader, wanna be ex forex trader with REFCOFX
you: What protections does your company offer customers from your company becomming insolvent, and customers loosing their money, due to your insolvency?
FXCH: We regret no US clients before we find US partners.
you: Oh. Ok. Thanx.:eek: :eek: :eek: :eek: :eek: :eek:
 
Chat with http://www.fxtrader.net

Chat InformationPlease wait for a site operator to respond.
Chat InformationYou are now chatting with 'FX'
you: Are US customers allowed to invest with you?
FX: hello howmay i help you
you: Are US customers alloed to invest with you?
FX: good
you: Are US customers allowed to invest with you?
FX: yes
you: Great. Right now I'm a wanna be Ex Refcofx customer. And I am looking for a company to trade with that has better protection for my account in case they become insolvent.
you: Does your company have any such protections for an account that I would open up with you?
FX: just hold
FX: Yes, we insure all our funds
you: Do you have a link giving me what insurance, or some more information, so that I can verify with some other than your company?
FX: Please email us your full name so we can send you all information
you: ZoneTrooper (I edit this out)
you: Also, can customer collect interest on carry over trades?
FX: we do not ask interest
you: Do you pay???
FX: we will send you all information
FX: no
you: OK. Thank you.
FX: ok, good bye
 
Quote from Dimond:

I think fxtrader.net very good broker and now they work with FXFD. Platform here http://www.fxfd.com/
More...

I just signed up for the new demo software, which I like very much. But if you look at a "History" window you will see that on overnight position they charge $20 per position.

I went onto live chat and had the following conversation:

FX: hello how may help?
you: hi, I have a few questions about your new platform and rollover
FX: yes
FX: please
you: i was using your demo account for a few weeks and now moved over to FXFD
you: it seems that you now rollover the positions at a profit or a loss at 3am gmt?
FX: just a moment
you: and in the 'history' section there is a 'commission', but it doesn't seemt o be reflected in the 'remains'
FX: ok
you: and if so, then isn't the commission basically an 'interest' charge, which your website and previous demo didn't charge
FX: can you send me history
you: sure, what is your email?
FX: please email to admin@fxfd.com
FX: and your account number please and email for reply
you: my demo account number? I have opened a live account but haven't funded it yet as I wanted to play with the demo first
FX: yes your demo account pls
you: do I have to disconnect?
you: and reconnect to get it?
FX: ok
FX: yes
you: demo00366
FX: thanks
FX: just hold
you: np, it was actually in the messages window as well :-)
FX: yes of course i saw your history.. we have swap buy 10 and swap sell 10
FX: so comission 20
you: but that is not reflected in the 'remains' and that is essentially a interest charge
you: and that did NOT happen in the last demo frmo fxtrader.net
you: 10. No charging interest for open position
you: from the website
FX: yes
FX: because fxtrader now have new platform
you: ?
FX: and don`t update website sorry
FX: fxtrader have a new platform if you know before fxtrader have ezc platform
FX: and now iTrade
FX: different conditions
you: so for a full position of 100,000 you will charge 100 a day for rollover
you: ?
FX: only 10
you: and why isnt' it reflected in the 'remains' column?
FX: 10 for buy
FX: and 10 for sell
FX: swap
you: then why is the rollover 20 for 20,000?
FX: yes
FX: if 100000 also 20
FX: not %
FX: only 10 swap buy and 10 swap sell
FX: open/close with rollower 20
you: so no matter what the position size, it is $20 a day to maintain?
FX: full position
you: what does full position mean?
FX: open/close
FX: yes
you: so if I have a 100,000 short postition, when it rolls over it costs me $20
you: ?
FX: yes
you: and if I have a 300,000 long position, when it rolls over it costs me $20
FX: yes
you: why isn't that reflected in the 'remains' column?
FX: now look
FX: please send me your history with rollover comission to admin@fxfd.com
you: I did
FX: ok
FX: now look
you: have refreshed and no change
FX: yes
FX: thanks
you: you receive the file?
FX: yes
FX: ok
FX: thanks
FX: mistake
FX: i`ll send email to managers
FX: but this time gmt
you: why 3am gmt?
FX: gmt time
you: why 3am?
you: isn't standard time 12:00am gmt?
FX: hmm
FX: i must ask managers
FX: thanks for questions
FX: i`ll reply you email
FX: thanks
FX: bye

I am waiting for an email with explanation, but if anybody else has had a similar experience, please let me know. I'll try to post more info as I get it.

Thanks,
MathemaTrading
 
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