Recent content by Chris Hood

Search this board for posts about Saxo, mine included, and/or try other reputable boards (say, Elitetrader) for comments on and ratings of Saxo. You'll get your answer, I believe.

The insurance protection Saxo Bank advertised at the time I had an account with it, and which was spelled out in my customer agreement, is created and run by the Danish government, not the EU. The protection applies, according to Saxo, to cash deposits. My educated guess is that it would not...

Reported by AFX yesterday, November 29th, possibly responsive to your question ("So what?"): "The National Futures Association is fining currency-trading firm Forex Capital Markets LLC (FXCM) $110,000 for alleged sales deception. NFA is a member organization for futures commission merchants and...

I don't know of one "reputable" fx retailer, much less three. This is a case of wishful thinking. Doesn't the tanking of REFCOfx reveal anything?

For a recent CFTC enforcement action of interest involving accounts traded at FXCM by the target of the enforcement action (James de Wet & Team Forex), see www.cftc.gov/files/enf/05orders/enfjamesdewetcompliant.pdf

You'd throw good money after bad, eh? Not to mention the time required, which also is a cost.

Saxo "reputable"? See this cautionary thread at Elite Trader: www.elitetrader.com/vb/showthread.php?threadid=47814

Chiefly, I report my experience on the topic so anyone who is considering opening an account with Saxo can check the information out for himself, independently of what I say. Had I known then what I know now, I would have avoided Saxo. The lesson is to thoroughly check out the entity you're...

Your advice is precisely the course I took. I contacted Finanstilsynet, which is the Danish Financial Services (or Supervisory) Authority (FSA), when Saxo burned my account by refusing to honor profitable limit orders. Saxo, on its website, says Finanstilsynet is its regulator, which proved...

This board and EliteTrader have the best forex forums I'm aware of.

I'm the poster who reported Saxo's dishonesty and stand by my posts on the topic, which are drawn from my first hand experience. I'll be glad to discuss again and in greater detail -- with anyone who is interested -- what we encountered with Saxo and the information I learned about Saxo in the...

Why, in your view, would Saxo Bank say its retail fx dealing is regulated when in fact the Danish FSA will not or cannot assist Saxo customers who have a complaint? Doesn't that raise a red flag with you? And, concerning your reply, are you saying that the local police can help customers with...

I contacted Finanstilsynet, which is the Danish Financial Services Authority (FSA), when Saxo burned our account. Saxo states that Finanstilsynet is its regulator, which is dishonest because Finanstilsynet replied to me in writing that it could not and would not provide me with any information...

Before risk your money anywhere, I suggest you consider my experience, which I recently posted (re-printed below) in another tread this forum in reply to a similar question. The post touches on the lack of trustworthiness of (1) the forex dealers (they're dealers, not "brokers") and (2) the...

You are not actually trading in the forex market regardless of the type of firm you select, spreadbet book or retail fx dealer. In both cases, you are trading the quote made by the shop. The shop is not laying your position off in the interbank market: it's the counterparty and simply is...