Barclays Margin FX

This is a discussion on Barclays Margin FX within the T2W Feedback & Announcements forums, part of the Off the Grid category; The advertising banner for Barclays Margin FX has been displaying I think since I joined the site which was a ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 23, 2013, 11:44am   #1
Joined Mar 2013
Barclays Margin FX

The advertising banner for Barclays Margin FX has been displaying I think since I joined the site which was a few weeks ago. I thought I'd have a look at the platform and spreads and so forth to get an idea of their offering. I signed up and as part of the registration process for a demo account, they obviously want to get as much personal data as possible. No problem with any of that. What I do have a problem with though is being getting a call literally within 20 minutes of registering from Barclays Margin FX, but from a number which I already had programmed in my phone from ages back for a bunch called ODL who are absolute nuisances for hard sell sales pitch calls on an annoyingly frequent basis.

Is Barclays Margin FX part of ODL or the other way round? Either way and regardless of the relationship, it's enough for me to put off dealing with Barclays Margin FX.
Purple Brain is offline   Reply With Quote
Old Apr 23, 2013, 11:52am   #2
 
The Artist's Avatar
Joined Aug 2009
Re: Barclays Margin FX

Quote:
Originally Posted by Purple Brain View Post
The advertising banner for Barclays Margin FX has been displaying I think since I joined the site which was a few weeks ago. I thought I'd have a look at the platform and spreads and so forth to get an idea of their offering. I signed up and as part of the registration process for a demo account, they obviously want to get as much personal data as possible. No problem with any of that. What I do have a problem with though is being getting a call literally within 20 minutes of registering from Barclays Margin FX, but from a number which I already had programmed in my phone from ages back for a bunch called ODL who are absolute nuisances for hard sell sales pitch calls on an annoyingly frequent basis.

Is Barclays Margin FX part of ODL or the other way round? Either way and regardless of the relationship, it's enough for me to put off dealing with Barclays Margin FX.
ODL is FXCM, and Barclays Margin FX is the retail FX arm of Barclays which uses FXCM technology.

__________________
Memento Mori
The Artist is offline   Reply With Quote
Old Apr 23, 2013, 11:57am   #3
Joined Mar 2013
Re: Barclays Margin FX

Purple Brain started this thread Thanks for the information The Artist. Presumably Barclays are aware ODL are using personal data from clients applying to Barclays for their own marketing purposes, which seems strange as superficially, they would appear to be competitors in the retail FX market space.
Purple Brain is offline   Reply With Quote
Old Apr 23, 2013, 12:05pm   #4
 
The Artist's Avatar
Joined Aug 2009
Re: Barclays Margin FX

Quote:
Originally Posted by Purple Brain View Post
Thanks for the information The Artist. Presumably Barclays are aware ODL are using personal data from clients applying to Barclays for their own marketing purposes, which seems strange as superficially, they would appear to be competitors in the retail FX market space.
ODL no longer exists. ODL is FXCM.
So indeed, presumably, the white labeling contract between FXCM and Barclays may allow FXCM to retrieve personal data for their own marketing purposes. Or, being the technology provider, FXCM may have just called you on behind of Barclays in order to attend any of your platform concerns.
Whichever the nature of the call you received falls under one of the two categories, so you tell us.

__________________
Memento Mori
The Artist is offline   Reply With Quote
Old Apr 23, 2013, 12:16pm   #5
Joined Mar 2013
Re: Barclays Margin FX

Purple Brain started this thread
Quote:
Originally Posted by The Artist View Post
ODL no longer exists. ODL is FXCM.
So indeed, presumably, the white labeling contract between FXCM and Barclays may allow FXCM to retrieve personal data for their own marketing purposes. Or, being the technology provider, FXCM may have just called you on behind of Barclays in order to attend any of your platform concerns.
Whichever the nature of the call you received falls under one of the two categories, so you tell us.

The nature of the call was ostensibly the latter, but when I queried the chap about him calling from the ODL number he said he had never heard on them and he was calling from Barclays Margin FX. I suppose it is possible that someone new may not have been aware of the relationship, but that in itself would be disappointing rather than suspicious which is where I was before your much appreciated response.

Either way, I'll be sticking with OANDA as their spreads are at least 50% tighter than Barclays Margin FX across all the 28 majors pairs I compared. The BMFX platform was sluggish and I tried both the web-based and downloaded desktop variants. The options were far from intuitive and the layout, though customisable, didn't have a clean feel about it.

It might be better the devil you know or perhaps it's just me being lazy. Either way, they haven't shown me they can give me a better deal or a better operational edge on trading FX than I already have.

Thanks again for providing clarity on the ODL/FXCM/BMFX relationship.
Purple Brain is offline   Reply With Quote
Old Apr 23, 2013, 12:28pm   #6
 
The Artist's Avatar
Joined Aug 2009
Re: Barclays Margin FX

Quote:
Originally Posted by Purple Brain View Post
The nature of the call was ostensibly the latter, but when I queried the chap about him calling from the ODL number he said he had never heard on them and he was calling from Barclays Margin FX. I suppose it is possible that someone new may not have been aware of the relationship, but that in itself would be disappointing rather than suspicious which is where I was before your much appreciated response.

Either way, I'll be sticking with OANDA as their spreads are at least 50% tighter than Barclays Margin FX across all the 28 majors pairs I compared. The BMFX platform was sluggish and I tried both the web-based and downloaded desktop variants. The options were far from intuitive and the layout, though customisable, didn't have a clean feel about it.

It might be better the devil you know or perhaps it's just me being lazy. Either way, they haven't shown me they can give me a better deal or a better operational edge on trading FX than I already have.

Thanks again for providing clarity on the ODL/FXCM/BMFX relationship.
Yeah that's not surprising, Barclays makes more than enough money from BARX to care much about retail. And so far they're right on track to follow in DBFX's footsteps.

__________________
Memento Mori
The Artist is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Barclays Bristolguy Stocks 20 Jul 22, 2011 12:21pm
Disable margin in margin account jonsjon Brokerages 0 Feb 10, 2010 6:24pm
Prospreads - when is margin not margin bsmart21 Spread Betting & CFDs 3 Jan 27, 2010 11:18am
Barclays 96pills Stocks 6 Jun 2, 2009 12:41pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)