The Safest forex Broker?

This is a discussion on The Safest forex Broker? within the Forex Brokers forums, part of the Commercial category; Originally Posted by metaron Hi Folks, I currently have an account at Oanda but am going to start trading some ...

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Old Aug 3, 2009, 10:55am   #25
 
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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?


a lot of this will depend on what sort of amounts you are looking to put into your account !
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Old Aug 3, 2009, 1:21pm   #26
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Correct

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Originally Posted by Hittfeld View Post
Huh??? As far as I know, its up to a swiss broker to get insurance coverage (but find out, if they paid the fees), only for brokers with bank status coverage is granted by government.

Regards

Hittfeld
Yes Hittfeld, that is correct. Be aware that the major FX brokers in Switzerland, Dukas, MIG and of course ACM have all had their applications for the banking license accepted and approved by FINMA, if all goes ahead as explained to us clients, these should be handed out near the end of this year, ergo clients accounts will be protected to the amount mentioned before.
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Old Aug 3, 2009, 7:05pm   #27
 
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Originally Posted by danial View Post
have all had their applications for the banking license accepted and approved by FINMA, if all goes ahead as explained to us clients, these should be handed out near the end of this year, ergo clients accounts will be protected to the amount mentioned before.
I've heard of the swiss brokers applying, but haven't heard of them being approved. Have there been press releases about it?
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Old Aug 4, 2009, 1:32pm   #28
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Sorry Jason, what i mean is that the applications were good enough to be accepted before the deadline. To be honest, I don't see MIG having problems, nor my broker ACM neither, that I base on the service they have given me as well as their platform. If they have signed up to offer MT4 soon, they must obviously be 100% confident in receiving that license. Dukas should be ok but I have heard the odd rumor regarding them, some questions are apparently being raised regarding the way their net capital is made up, or something (I read in another forum)but I would imagine it would go through.
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Old Aug 4, 2009, 1:55pm   #29
 
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Originally Posted by danial View Post
Sorry Jason, what i mean is that the applications were good enough to be accepted before the deadline. To be honest, I don't see MIG having problems, nor my broker ACM neither, that I base on the service they have given me as well as their platform. If they have signed up to offer MT4 soon, they must obviously be 100% confident in receiving that license. Dukas should be ok but I have heard the odd rumor regarding them, some questions are apparently being raised regarding the way their net capital is made up, or something (I read in another forum)but I would imagine it would go through.
No problem. Was just curious
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Old Sep 22, 2009, 2:00pm   #30
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Anyone yet tried the Dukas Fapturbo swiss edition, or the ACM MT4 yet?

We had all heard the Fap/Dukas hype as well as the MT traders out there talk about the arrival of these two. So now let's see if there are any initial rections yet.
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Old Sep 22, 2009, 4:39pm   #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, 9:29am   #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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