Tokyo broker

[Blether]

Hello all. I'm pretty much of a beginner at trading, so please bear with me.

I've been looking at an FX broker here in Tokyo, and wanted to post up their terms and invite comment from the more experienced members. How do these sound ?

- typical spread 8 points
- minimum account JPY1,000,000.
- each JPY1,000,000 allows trading in up to 2 lots, with a lot size of 200,000 units in base currency
- they provide "e-trade semi-automatic trading platform with "Saino Ample International Limited" as the market maker" (transcribed from the Japanese - I'm not sure of the English spelling for this company name)
- to trade, you request a price from a pricing source, and decide whether to trade based on the rate provided

What are typical retail FX lot sizes ?
How does an 8 points spread compare in the retail market ?
How many points from entry are members typically placing stops ?
Has anyone heard of a 'Saino Ample' or any forex outfit with a similar-sounding name ?

Thanks to anyone who can contribute.

 

[cj12]

www.cmcgroupplc.com

 

[Blether]

www.cmcgroupplc.com

Thanks, Sun - yes, also FXCM, OandA, GFT, e*trade... I do have the option of finding out the long way by reading every detail of web sites, signing up for demo accounts and so on.

To clarify, I'm not looking to place business through this broker.

 

[Blether]

A last attempt to boost this thread - I'm slowly picking up info on spreads and lot sizes. Has no-one any knowledge of 'Saino Ample International ?'

Isn't an 8-point spread *and* a per-trade commission of JPY15,000 even worth a laugh ?

 

[Blether]

8 point spread in which currency pair?

If it's any of the major currency pairs (eur/usd, gbp/usd, usd/jpy eur/jpy usd/chf eur/chf eur/gbp aud/usd usd/cad etc etc then I'd steer well clear, that's a very wide spread).

GJ

Thanks, GJ. It's an 8-point spread in the majors (with only eight pairs offerred)...