I don't really know. I don't think it was the account size or trade size as acct at its max was only about 10K. Profitability and high frequency probably.
RefcoFX vs. Oanda
- Thread starter eagerbeaver
- Start date
I don't really know. I don't think it was the account size or trade size as acct at its max was only about 10K. Profitability and high frequency probably.
does anyone have any experience with efxgroup (the forex division of mb-trading). Also, I was looking at the latest forex broker reviews at http://www.goforex.net/forex-broker-ratings.htm and apparently ifx, gft, and fx solutions got some of the highest ratings, along with hotspotfx (the fx ecn). Does anyone have any experiences to speak of with any of these? gft sound interesting because they said they could match traders for a cmsn fee between the spread - no fee if they make the spread. Also, pipscooper, if you don't mind saying what firm are you currently trading with since oanda and how has your experience been there so far?
ifx commerce and hotspot ratings are based on 3 and 2 votes respectively, so IMHO the sample is rather small. At the same time Hotspot are a good company and so are IFX London. I never traded on IFX Commerce but their staff seemed to be not very professional and badly informed. Among the North America based companies Oanda and MG are heads above the rest in my opinion.
Hey, did you write that post yourself? "Senior Member" status, give me a break.
No, I didn't write it. It comes from Oanda's forum, from a thread entitled "pip shading" (or words like that). Check it yourself. The thread is a pretty healthy discussion by customers experienced with Oanda (assuming the forum is legit). The tag "Senior Member" is given by that forum, not me.
What point do you want to make by quoting that post? The forum is accessible by anyone and as your quote also states, the reply is an opinion ("My perception is, ...").
Senior Member status is a title given to someone that posts a lot, it does not have any value other than that.
Now how should an opinion from one person, who posts a lot at the Oanda forums, prove Oanda is bad? You really make no sense at all. If you want to prove something about Oanda, give us some hard facts, this is just BS.
well, i was wrong, not to do the same as them...Quote from 2cents:
FWIW, i am sitting across the partition from an FX online broker in an incubator type set-up, i've helped them in their initial devl phase therefore had and still have privileged access to pretty much everything there, which is probably why like lon eagle i am not overly worried about the credit risk issue - not denying it exists tho'...
guys started 3 years ago, just the 2 partners both ex-voice brokers from prebon etc etc, as a no-tricks white label op., just making (fairly decent) money on volume rebates and charging a transparent comm. per trade (yes there r some countries where... but as i said earlier its changing...). basically no risk, or really not much...
late last year, they acquire the licence to their own turn-key front-to-back brokerage platform. how much? $25K one-time, yes... that cheap... how things change hey?... , plus coms on volumes etc but again we're talking $5-20/mio depending, really not much... i.e. not sthg you and i can't afford... then all you need is an API with a willing liquidity provider and again thats not particularly difficult to find...
situation today? they've hired because thanks to good e-marketing their nb of clients has just gone thru the roof, but r still only 6 quasi-full-time total, outsourcing anything that can be. volume-wise, high-single digit yrds/mth, which translates grosso-merdo into $1mio+ rev. / mth, not kidding you... (ok, their mkting costs r not small but hey, there's a lot of room there...)
do they bucket? of course, but only small size trades. remember, they r brokers, not even dealers, not traders, very risk-adverse animals... plus their assessment after trying to bucket more is its just not worth the risk... and considering how much they're making now, can't blame them really))
so, you must be asking yrselves, why am i still sitting there and trading instead of just doing the same hey?? well, not a question for this thread, is the answer...
but bottom line is, similarly to lon eagle, i have pretty solid reasons not to worry too much over my brokers' credit risk (thats not them btw), there will be some accidents of course, but i can live with that risk, considering the already debated (better executions, higher leverage etc) benefits...
the founder is selling his stake, 49%, for c$90mio... starting K, about $50K perhaps, can't remember, 4 years ago...
their business completely exploded since mid last-year and went vertical when they obtained their licence in Feb this year...
food for thought... http://www.strataworks.co.jp/en/newsletter/market/market-2006_07-show.html
i'll provide the link to the acquisition papers when Jim confirms the big cheque has cleared...