The Safest forex Broker?

This is a discussion on The Safest forex Broker? within the Forex Brokers forums, part of the Commercial category; Thanks for the posts guys. FYI I do not touch Forex anymore as I found it impossible to make money ...

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Old Sep 22, 2009, 5:39pm   #31
 
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metaron started this thread Thanks for the posts guys.

FYI I do not touch Forex anymore as I found it impossible to make money from.

A WARNING TO PEOPLE WITH U.S BROKERS!!!

FDIC IS IN NEED OF A BAIL-OUT!!! IF YOUR BROKER IS FDIC INSURED THAT NOW MEANS AS MUCH AS USED TOILET PAPER!

I would just like to say that how can you trust this now bull market (according to dow theory) rally when the bail out bill gave $23 trillion of taxpayers money(source: zerohedge) to wall street and wall street have driven the prices up presumably with this money. It gives a whole new meaning to the fox guarding the hen house.

At the mo I've got all my money out of the 2 U.S brokers I use as I believe this rally is going to end badly (as is the case with most parabolic moves).

Simply put the war bells are ringing for Iran and(imo) an attack is imminent within a month(could be a pos for markets long term but at this oversold condition I think it can only create downward pressure in the short term), coupled with a highly likely 'No' vote for the Irish with the lisbon treaty which markets won't react well to this as it will cause uncertainty to the future structure of the EU.

IS THIS ENOUGH TO SET OFF A MELTDOWN AGAIN WITH SOME ECONOMISTS STATING THINGS ARE NOW WORSE THAN PRE-LEHMAN? Stiglitz Says Bank Problems Bigger Than Pre-Lehman (Update1) - Bloomberg.com

Please be careful with your money at your brokers.

Best regards

M.
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Old Sep 23, 2009, 10:29am   #32
 
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If I may, I'd like to draw your attention to LiteForex broker, which is one of the most respective foriegn brokers.
More information you can obtain on the web site and by asking questions
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Old Sep 24, 2009, 3:49pm   #33
 
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metaron started this thread Thanks but no thanks, I'm now very happily trading stocks.

With regards to my previous thread - I just seen this at zerohege: "Moonraker Fund Management Claims Banks Using Bailout Money To Ramp Markets".

Moonraker Fund Management Claims Banks Using Bailout Money To Ramp Markets | zero hedge
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Old Sep 24, 2009, 3:59pm   #34
 
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Quote:
Originally Posted by metaron View Post
Hi Folks,

I currently have an account at Oanda but am going to start trading some family money now so obviously I wish to have the most trustworthy and financially sound broker available so my money will not dissapear if a company liquidates. I thought about a swiss FX broker because of the new regulation maybe.

Any suggestions or am I better off just sticking to Oanda?
if you have to ask the question - you already know the answer

forex is a mugs game for w@nk@s.
if you want to trade currencies, trade currency futures through legit brokers
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Old Sep 24, 2009, 4:12pm   #35
 
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metaron started this thread
Quote:
if you want to trade currencies, trade currency futures through legit brokers
I would add one caveat to that: trade currency futures BUT place stops out of hours in the cash market. So you would still need a cash market FX broker.

Last edited by metaron; Sep 25, 2009 at 10:16am.
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Old Sep 25, 2009, 10:00am   #36
 
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metaron, by all means you're right. Currency futures is a very good instrument, but there is less risk, it comes out of the definition of a currency futures...
You must not forget to put stop-loss and take-profit when online trading
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Old Apr 17, 2012, 4:44pm   #37
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Thumbs up Re: The Safest forex Broker?

Hello,

If you want a safe broker (FSA regulated) who keeps money in a strict segregated account, with excellent liquidity (14 Tier 1 banks/funds) and a suite of platforms (Currenex, MT4, First Derivative, Integral, etc) then contact Capital Markets Services on:
sbaksh@cmsfx.co.uk

Quote:
Originally Posted by metaron View Post
Cheers Ben

Ben your a dude, now that sounds good! I really do think insurance is a must for any money nowadays, I've read up on Refco they had a healthy balance sheet at the time they got busted which could also mean any supposedely 'healthy' forex broker could do the same any day.

Just looked on their site and it says:

"Citibank is participating in the FDICís Transaction Account Guarantee Program. Under that program, through Dec 31, 2009, all Citibank U.S. non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Accordingly, US dollar margin deposits maintained with Citibank NA in connection with CitiFX Pro transactions are fully insured; Non-US Dollar amounts (EUR, GBP, JPY and HKD) are held outside the US and are not FDIC insured."

So can you choose your base currency when opening the account(i.e if I pay them in pounds will they give me a base account in dollars)? And would you know if this insurance applies to UK residents?

Do they allow scalping and whats their spreads like?

I don't want to know much I know
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Old Apr 18, 2012, 8:32am   #38
 
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Re: The Safest forex Broker?

Quote:
Originally Posted by metaron View Post
Hi Folks,

I currently have an account at Oanda but am going to start trading some family money now so obviously I wish to have the most trustworthy and financially sound broker available so my money will not dissapear if a company liquidates. I thought about a swiss FX broker because of the new regulation maybe.

Any suggestions or am I better off just sticking to Oanda?
have a look the broker regulatory body, and the compensation schema which is very important when broker goes bankrupt....
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Old May 3, 2012, 9:56am   #39
 
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Re: The Safest forex Broker?

Hi everyone,

Just out of interest, what would you like to see from a broker in order for you to feel 100% confident with your funds?

Regards,

Jeff
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Old May 3, 2012, 12:12pm   #40
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Re: The Safest forex Broker?

his nuts in an electronic vice permanently linked to a button in my trading room

N
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