FinFx

[hoodun]

Whats the latest on finfx? I've read very mixed reviews over the past year or so.

The leverage is the reason why I'm interested in them. For highly calculated trades that I feel quite certain about, I would like the leverage option. Even though these sort of trades come once in a blue moon, it is essential to have the opportunity for leverage. So far the only forex broker I can find, that allows US citizens, with decent leverage is finfx and they only offer 1/200.

Is FinFx safe these days? Are there more options that I'm missing?

-new at this.

 

[kgk]

hoodun - I am interested in this myself. It appears that they are accepting US clients - however, how safe is it to supply our SSN and other such sensitive information to someone outside the jurisdiction of the USA is arguable. I want to open an account with them - however, I am looking for some sort of a reassurance from US customers who have had good experience with them.

 

[Shakone]

Whats the latest on finfx? I've read very mixed reviews over the past year or so.

The leverage is the reason why I'm interested in them. For highly calculated trades that I feel quite certain about, I would like the leverage option. Even though these sort of trades come once in a blue moon, it is essential to have the opportunity for leverage. So far the only forex broker I can find, that allows US citizens, with decent leverage is finfx and they only offer 1/200.

Is FinFx safe these days? Are there more options that I'm missing?

-new at this.

I don't really get why anyone would need 200:1 leverage. It sounds like a disaster. I don't even get why anyone would need more than 50:1 leverage.

If you had a £1,000 account, then 200:1 leverage allows you to trade 200k, which is $20 per pip. 50 pips and you're out (less in reality). It can gap more than 50 pips. In news time it can move that far in one minute and if you think your stop will save you, it can be slipped quite far.

You should never need to use 200:1 leverage.

 

[hoodun]

I am certainly no expert, though I believe every once in a while it would be nice to have the option of insane leverage for scalping opportunities. In my demo accounts I have been able to make it work. I understand its a different world when you trade real money, though I honestly do not understand this logic.