Quote from Cutten:
I use Fortis Clearing London - they have pretty good rates and more importantly have significant financial backing (over â¬50 milliion capital, and the parent Fortis Bank has â¬6 billion in capital).
Generally I would avoid most shops run by locals (i.e. individual traders). There are some exceptions i.e. firms started by locals that have been around through rough markets over the years, and have seen it all and are well run. But in general these guys might know how to trade but generally they aren't exactly strong on risk management, technology, financial and management controls, or capital reserves. Go for a place backed by an institution that has been in the game for some time and has decent capital reserves, they are generally much more professional and secure. Also because of their size, their unit overheads are lower so they can generally offer better deals.