How much capital do you have in your forex account ?
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  1. #1
    Join Date
    Jun 2008
    Posts
    17

    Default How much capital do you have in your forex account ?

    Are there people who actually trades with more than $ 100,000 capital or
    even $ 1M in here ? if so what lot sizes do you trade and how much do you risk per trade ?
    So far I've been successful making 5-10% a month with small capital
    Im hoping to increase capital in the future. However
    I'm concerned if brokers can be trusted with large amt of funds. I mean, can you trust them as you can with B of A or Wells ? (even they only insure up to $ 250K) These brokers are well known, such as the FXCM and claim they have millions of dollars in assets.. but can you trust them ? I know am 100 % responsible for losses/profits but can I wake up one morning and the broker files bk or something and I lose some or all of the capital ?

  2. #2
    Join Date
    Feb 2011
    Posts
    47
    I trade from US with Oanda and even if they can insure anything, I would not put more than 20-30k in their system at a time.

  3. #3
    Join Date
    Aug 2011
    Posts
    10
    As far as I am aware, CitiFX (Citibank) is the only broker in the U.S. that maintains FDIC insured deposits. Someone correct me I'm wrong.

  4. #4
    Join Date
    Sep 2011
    Posts
    576
    I have $2000 in my forex trading account at present.

  5. #5
    Join Date
    Jul 2012
    Location
    Toronto, Canada
    Posts
    18
    I have nearly $3k. I speculate with minilots since I am a noobee in the Forex arena.

  6. #6
    Join Date
    Jul 2012
    Location
    Right here, right now
    Posts
    282
    Quote Originally Posted by amtrade View Post
    Are there people who actually trades with more than $ 100,000 capital or
    even $ 1M in here ? if so what lot sizes do you trade and how much do you risk per trade ?
    So far I've been successful making 5-10% a month with small capital
    Im hoping to increase capital in the future. However
    I'm concerned if brokers can be trusted with large amt of funds. I mean, can you trust them as you can with B of A or Wells ? (even they only insure up to $ 250K) These brokers are well known, such as the FXCM and claim they have millions of dollars in assets.. but can you trust them ? I know am 100 % responsible for losses/profits but can I wake up one morning and the broker files bk or something and I lose some or all of the capital ?
    if you have $100k or $250k, you don't deposit it with the broker. you deposit it into a custodial bank which hopefully is insured the same way as BoA / WF / etc, and your broker connects to your bank account to verify / settle / add / remove the funds after your daily trades.

  7. #7
    Quote Originally Posted by fohexfosho View Post
    As far as I am aware, CitiFX (Citibank) is the only broker in the U.S. that maintains FDIC insured deposits. Someone correct me I'm wrong.
    Interactive Brokers also offers FDIC insurance as well as private insurance up to $2 Million in cash.

  8. #8
    Join Date
    Jul 2012
    Location
    here and there
    Posts
    633
    it is sensible not put all your trading capital with your brokers, regardless of reputation.
    crazy times right now.

  9. #9
    Join Date
    Aug 2012
    Posts
    39
    Quote Originally Posted by FringFX View Post
    it is sensible not put all your trading capital with your brokers, regardless of reputation.
    crazy times right now.
    Your frustration is understandable. But there is a way to change things for the better. I'd encourage you to contact the CFTC (I'll add a link once I hit 5 posts) and leave a public comment asking for greater protections for retail forex customers. A variety of ideas are being considered by CFTC (Insurance, greater disclosure requirements, etc...) that could make a big difference for retail forex traders.

  10. #10
    Join Date
    Mar 2012
    Location
    East Malaysia
    Posts
    47
    I am trading with 3 brokers, all not more than 20k, so i guess i have no worries about them eating up my money, hehe

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