what do you guys think about Dbfx…
feedback will be appreciated…
I wrote briefly about dbFX on another thread, back in August. Here is a partial copy-and-paste:
Deutsche Bank is the largest bank in the forex interbank network, in terms of forex transaction volume. They have been doing the banking thing for a very long time, and have a solid reputation as a bank.
They are relatively new to retail forex brokering. Rather than design everything from scratch, Deutsche Bank has purchased (or leased) the FXCM Trading Station platform, and re-labeled it as dbFX. (This is not uncommon in the forex business: some brokers actually advertise that their platforms are available for lease as “white label” products — i.e., the brand name is removed from the platform, and the lessee is allowed to put his own name on it.)
There has been a lot of gossip on some other forums about some sort of conspiracy or crooked deal between FXCM and Deutsche Bank, and all that gossip is just garbage. As far as Deutsche Bank’s strength and integrity are concerned, I would have no concerns about them, at all. That being said, you need to do your own “due diligence” regarding any broker you are considering. And no one can do your due diligence for you.
For the rest of that thread, go to: Deutsche Bank broker? - BabyPips.com Forex Forum#post127028)
Regarding the dbFX/FXCM trading platform, here is a video tutorial from dbFX on platform functionality:
Forex Trading Platform | Forex Trading Platform Video Tutorials | dbFX
Some other considerations:
[B]Pros:[/B]
[ul]
[li]dbFX is part of Deutsche Bank, AG (Frankfurt, Germany), the largest-volume foreign-exchange interbank participant
[/li]
[li]dbFX retail forex accounts are domiciled in London, and are regulated by the Financial Services Authority (FSA) in the U.K.
[/li]
[li]stop-orders, limit-orders, close-position orders and hedging are all available on the dbFX platform
[/li]
[li]customer funds are segregated and insured (this feature is not available through U.S.-domiciled brokers)
[/li][/ul]
[B]Cons:[/B]
[ul]
[li]$5,000 minimum deposit to open an account
[/li]
[li]deposits and withdrawals by bank wire-transfer only, which incurs wire-transfer fees
[/li]
[li]there are not many dbFX clients on this forum, or on other popular forums, with whom to compare notes
[/li][/ul]
I hope this helps you with your research.
Clint
great help… thanku Clint