BeamFX - what is your opinion?

[ForexTradingChoice]

Has anyone had any experience with BeamFX?

I had few request from traders to offer rebates for trading at BeamFX, so I would like to hear some experience with them, before signing IB contract.

According to some other forums BeamFX are quite good, but I would like to hear real stories, not the created ones.

 

[BeamFX_Andrew]

Has anyone had any experience with BeamFX?

I had few request from traders to offer rebates for trading at BeamFX, so I would like to hear some experience with them, before signing IB contract.

According to some other forums BeamFX are quite good, but I would like to hear real stories, not the created ones.

Hello,

I just wanted to personally re-introduce ourselves as BeamFX is now under new management. We are currently an IB that introduces exclusively for "Institutional Liquidity" (ILQ). If you haven't heard of ILQ before you can check their website out here: ILQ- Home Our main goal is to have satisfied customers and we deal with any issues promptly. I will be checking the forums regularly and am looking forward to answering any questions that you guys may have.

Sincerely,
Andrew
Foreign Currency Brokerage (Forex) - Beam FX Rockville Centre New York

 

[wackypete2]

Hello,

I just wanted to personally re-introduce ourselves as BeamFX is now under new management. We are currently an IB that introduces exclusively for "Institutional Liquidity" (ILQ). If you haven't heard of ILQ before you can check their website out here: ILQ- Home Our main goal is to have satisfied customers and we deal with any issues promptly. I will be checking the forums regularly and am looking forward to answering any questions that you guys may have.

Sincerely,
Andrew
Foreign Currency Brokerage (Forex) - Beam FX Rockville Centre New York

eh? Is this the margin for 1 full standard (100,000 euro) contract of EUR/USD at 50:1 leverage?

Brokerage - Beam FX Rockville Centre New York

The initial margin requirement for major currency pairs is 2%. For the major crosses and exotics the initial margin is 5%. The initial margin is essentially a refundable deposit. It is calculated as a percentage of the dollar equivalent of the position taken:

If the EUR/USD ask price is 1.2450, a 100,000 EURO long position would cost $12,450. In margin trading, only 2% of this is required as initial margin i.e. $249. The leverage would be 12,450/249 or 50:1.

Peter

 

[BeamFX_Andrew]

eh? Is this the margin for 1 full standard (100,000 euro) contract of EUR/USD at 50:1 leverage?

Brokerage - Beam FX Rockville Centre New York



Peter

Hey Peter,

Thanks for the catch!! I'll have this fixed asap. It should be "In margin trading, only 2% of this is required as initial margin i.e. $2490. The leverage would be 124,500/2,490 or 50:1."

Andrew