I'm not sure about the clearing, I thought it was IKON GM. I was referred to them by based in Houston (CFOS/FX). They told me they use Saxo and Ikon GM, but Saxo doesn't allow opening an account with anything less than 10K or perhaps 5K and they charge per ticket.
http://www.cfosfx.com/company_profile.htm
The platform is pretty good, in terms of getting quotes, seeing the greeks, putting in orders, etc.
BUT there seems to be a miscommunication. When I enter spreads, more specificially, strangles, I'm getting hit with 20 pips (10 on both sides). I was told my CFOS/FX this is because I'm going too far out of the money, and it's better to enter the order in the early morning eastern US time when all of the markets are open. I've called about 2 orders so far, and both times, the person on the phone who puts in my orders (always has a very heavy foreign accent by the way), tells me that whan I see on the screen is what I get, and I don't save anything when I call it in as a spread. Anther words, it makes no difference if I leg in or not. This goes against what the CFOS/FX desk tells me, that I can sometimes get an 16 - 18 pip spread if I enter both orders at the same time, depending on liquidity at the time. Perhpas I'm still too far out of the money or calling at a bad time. The person on the phone also tells me that he's in the US when I ask where they are, and I'm sure they're not, so I don't appreciate not being told the truth.
It could be that I'm still new to the game and I don't understand all of the technical terms.
