is someone trading with Divisa Capital?

[chrisbliss]

great info, I agree it's confusing to say the least.
anyway, my conversation with Divisa has been very positive and
they explained much to me,
however Im not allowed to go into detail
since the information between them and me is confidential.
I never thought about that and
I think thats the reason you never hear Divisa traders in the forums,
this puts me in a pecurial situation because I won't be able to
expain to you guys what they said,
and that was what I wanted to do in the first place.
and that has been my goal with all of these posts.
that makes me feel a little bit off on this thread
anyway, my conversations with Divisa and the ansver to my questions,
has been very positive, I can say that much.
I wish I can go into more detail but Im not allowed.
I guess that ends my carrier as a test rat.
I still endorce Divisa and I think it's a great choice.
I think that the chance for STP brokers to go broke
is pretty small since they don't have any money invested,
it would be the oposite for a dealing desk broker since he must hedge
all the clients positions, he then take a big risk and have a huge amount of capital invested in the market.
if the clients would go very profitable which probably was the case
with the Australian broker, the dealing desk broker would lose his money.
with Straight through processing brokers like Divisa,
that problem does not exist since they
just pass the orders straight to the banks and only
earn money from comission and have no capital invested.
to loose something you gotto have something otherwice thats just about impossible.
personally I really think the fear of loosing money with such a broker is
exaggerated, but the worries are understandable especially for new traders,
and for those that trade with huge amounts.
why would they run with the clients money when they have a endless river of comissions every day?
and they been around for such a long time,
I think that say something about their stability.
anyway, the conclusion about Divisa is I found them to be a great broker,
during the time I have been trading with them I have not seen anything fishy.
and that is something very rare in this buisiness,
and worth to promote and investigate.
I think for small traders they are nearly perfect.
if you can stand to loose 1000 bux like I did,
that is the minimum deposit.
and then work your way up is a good choice.
or if you have about 10000 dollars or more
you should split your capital up in several parts
and put each part with a different broker for safety.
never put all eggs in the same basket.
I think Divisa is a great choice to have in mind for that strategy.
I will keep you updated on the FMA registration if that could help.
they allowed that much.
Good luck trading guys!

 

[moksha99]

So Chrisbliss What can be so confidential?????
I mean it is not a secret trading system ...that you are sharing
It is just a broker!
Don;t know why anybody would deal with a broker with such question mark on such a important issue
Any way here is further info from NZ authority

To clarify the role of Financial Services Complaints Limited (“FSCL”), FSCL is the operator of an independent complaints scheme, not an insurance scheme. While FSCL has the ability to make monetary awards, it is the broker who must pay that amount to the complainant. As such, the value of any award is, in a practical sense, subject to the broker’s ability to pay, and may be of limited value where the broker is already in financial difficulties at the time the complaint is made.



Registration as a financial service provider does not infer any guarantee of the broker’s obligations to its clients.



Like the Australian position, if a broker collapses and there is a deficiency in its client account, clients may loose money. Where the broker’s client account is regulated, regular audits and supervision of the broker are designed to minimise the likelihood of a deficiency existing in the client account.



Divisa Capital LP is not authorised to deal in futures contracts. As such, its client account is not regulated under the Futures Industry (Client Funds) Regulations 1990.



We hope this clarifies the position with respect to this company for you.



Regards

Hayden



–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

Hayden Best | Solicitor | Financial Markets Authority
T: + 64 4 495 1681 | E: [email protected]

Level 8, Unisys House, 56 The Terrace, Wellington
PO Box 1179, Wellington 6140, New Zealand

www.fma.govt.nz

 

[Als]

So Chrisbliss What can be so confidential?????
I mean it is not a secret trading system ...that you are sharing
It is just a broker!
Don;t know why anybody would deal with a broker with such question mark on such a important issue
Any way here is further info from NZ authority

To clarify the role of Financial Services Complaints Limited (“FSCL”), FSCL is the operator of an independent complaints scheme, not an insurance scheme. While FSCL has the ability to make monetary awards, it is the broker who must pay that amount to the complainant. As such, the value of any award is, in a practical sense, subject to the broker’s ability to pay, and may be of limited value where the broker is already in financial difficulties at the time the complaint is made.



Registration as a financial service provider does not infer any guarantee of the broker’s obligations to its clients.



Like the Australian position, if a broker collapses and there is a deficiency in its client account, clients may loose money. Where the broker’s client account is regulated, regular audits and supervision of the broker are designed to minimise the likelihood of a deficiency existing in the client account.



Divisa Capital LP is not authorised to deal in futures contracts. As such, its client account is not regulated under the Futures Industry (Client Funds) Regulations 1990.



We hope this clarifies the position with respect to this company for you.



Regards

Hayden



–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

Hayden Best | Solicitor | Financial Markets Authority
T: + 64 4 495 1681 | E: [email protected]

Level 8, Unisys House, 56 The Terrace, Wellington
PO Box 1179, Wellington 6140, New Zealand

www.fma.govt.nz

good staff moksha99!

-----

frankly at first i did not want even to react

....... so puzzled i was by the reply of chrissbliss.....



a broker who does not want to make public evidence to prove it's reliability

and leave it to tète-a-tète exchange with a client .....?

a broker unwilling to enroll new clients?

it is something unheard of...(to my knowlege at least)


this makes me even more suspicious

why has forexpeacearmy given scam rating to velocity4x then?

(the creation of current boss of divisa)

are you getting my hint?

confidentiality by desire of divisa? i doubt it...

it makes me think ...how to put it mildly...

chrissbliss is not .........chrissbliss (sorry but....)

 

[chrisbliss]

comon don't make this look worse than it is,
the conversation between client and broker is confidential as a rule,
and for clients protection, not just the email in question but all emails.
why they don't want to go public and advertise?
my guess is they are a big company and are not in the need,
and their main clients are institutional.

whatever you see in forexpeacearmy you should take with a grain of salt
they are exposed as a broker owned site, with the function to draw the competition in the mud,
smart guys! take a deeper look on the reviews then you understand who the owner is.

 

[moksha99]

comon don't make this look worse than it is,
the conversation between client and broker is confidential as a rule,

whatever you see in forexpeacearmy you should take with a grain of salt

O forget that site .. read the rely I got from NZ authority... contact the officers mentioned and clarify
is.

Mate what exactly are you on about.....
What confidentiality?
We are not asking how they make money... or you do.. IT IS SIMPLY ABOUT CLIENT MONEY SAFETY... Why don;t you and your friends at this firm answer a simple question?
Any legit broker should not shy away from this fundamental question...
Where does confidentiality comes from? rubbish

 

[Als]

Mate what exactly are you on about.....
What confidentiality?
We are not asking how they make money... or you do.. IT IS SIMPLY ABOUT CLIENT MONEY SAFETY... Why don;t you and your friends at this firm answer a simple question?
Any legit broker should not shy away from this fundamental question...
Where does confidentiality comes from? rubbish

regretfully this thread is becoming a bit bizarre

and looks more and more like marketing of divisa but in subtle way

from the very beginning i had some misgivings about divisa

and a little later about chrissbliss himself(sorry mate .....no matter who you are)

but traders need a serious discussion about certain brokerage


divisa attracted my interest by stunning speed of execution on demo

but demo is only demo and can be used to mislead new clients

and if "divisa"- "chrissbliss"- "anyoneelse"-"sometrader"

somewhat "shy" to clarify basic point of money safety

there is no need to spend time on divisa


moksha99!

you seem to be very motivated to find a good broker(for scalping i guess)

and skilled to dig out infos

be so kind and look at "financial underlay " of one strong competitor called finfx

(well...not regulated but has integral as liq. provider)

demo works also very good

(some very usefull info is on forexfactory forum)

i"ll be glad to get your thoughts




regards ......and lucky trading to everybody

 

[chrisbliss]

I agree this thread has become bizarre regretfully
it was never my attention.
and I have the same feeling about you,
you more and more look like some representative from Finfx,
but I can assure you I am not marketing Divisa,
I really wish I was so I could tell you a lot more about them.
I thought I made my self clear on that already,
but who ever YOU are,
lets leave Divisa and go for Finfx then,
Im allways in the hunt for a good broker,
so lets continue this thread investigating Finfx instead,
we aparantly can't get further with Divisa.
first I thought Finfx did look very good and I even opened a demo with them,
but when I found that they not allow trading during news
I wasn't so enthusiastic anymore,
so the question arise, are they STP really?
or another bucketshop hiding under the name " no dealing desk"
and the other concern is they is really new
and hasn't been around longer than a year,
so we got a stability issue there,
and also, they are not registred.
and how about client money safety?

 

[Als]

I agree this thread has become bizarre regretfully
it was never my attention.
and I have the same feeling about you,
you more and more look like some representative from Finfx,
but I can assure you I am not marketing Divisa,
I really wish I was so I could tell you a lot more about them.
I thought I made my self clear on that already,
but who ever YOU are,
lets leave Divisa and go for Finfx then,
Im allways in the hunt for a good broker,
so lets continue this thread investigating Finfx instead,
we aparantly can't get further with Divisa.
first I thought Finfx did look very good and I even opened a demo with them,
but when I found that they not allow trading during news
I wasn't so enthusiastic anymore,
so the question arise, are they STP really?
or another bucketshop hiding under the name " no dealing desk"
and the other concern is they is really new
and hasn't been around longer than a year,
so we got a stability issue there,
and also, they are not registred.
and how about client money safety?

--------------------------

".....you more and more look like some representative from Finfx,...."


no

i trade with whselfinvest based in benelux and very professional

full protection and huge range of instruments

eur/usd 1.6-2.2 variable no comission (both spot and cfd available)

good but not great for scalping

why i am in search of reliable ecn broker even with elevated comission

---------------------------
"....lets leave Divisa and go for Finfx then,
Im allways in the hunt for a good broker,
so lets continue this thread investigating Finfx instead,...."

agree

and what i try to do having started thread "finfxis it as good as it looks?"

---------------------------------
".....we aparantly can't get further with Divisa....."

but you trade with them....!!!!!

--------------------------------

"....but when I found that they not allow trading during news..."

frankly did not notice this....

but i'll check it again

-------------------------

"......and hasn't been around longer than a year,......"

yes... but guys behind finfx seem to be honest and quite strightforward

--------------------
".....so we got a stability issue there,
and also, they are not registred.
and how about client money safety....."

let's reflect about it alltogether.....

and if you were so brave as to open live acct with unregulated divisa

with quite dubious background

i suggested why not you to do testratting with finfx

after all they menaged somehow to get backing of "integral"

(finfx logo is on integral website)

and both companies (on demo) run neck in neck

 

[moksha99]

I agree this thread has become bizarre regretfully
i
we aparantly can't get further with Divisa.

and how about client money safety?

The bizzare things was about some sort of confidentiality!that you mentioned why don't you clearly tell all what exactly is this xxxx about confidentiality.. you were on about or are you afraid that the digging that I did ( which any consumer should be able to do) exposed what you thought might be kosher!
Or are you now really worried about Client money safety .. in that case why do you trade with such a broker
With Fin fx or anybody else use the same logic I applied.. you will get your own answers

 

[moksha99]

be so kind and look at "financial underlay " of one strong competitor called finfx

(well...not regulated but has integral as liq. provider)
If not regulated why bother?

 

[Als]

be so kind and look at "financial underlay " of one strong competitor called finfx

(well...not regulated but has integral as liq. provider)
If not regulated why bother?

agree

but after long search i got a list of "worthy to look at" brokers

investorseurope?

execution was far from desirable and now they seem to have gotten in bed with uwc

what i do not like

dukascopy?

not so cheap and slippage as i heard

fxflat?

looks market maker

it mirrows whselfinwest but only 500 to open...still .interesting....

fastbrokers?

as i understand they are over the pond where cftc rules

and platform is strange and uncomfortabe to use although nice spreads



and only two interesting for scalping left

divisa and finfx

------------

as for regulation....

well...many bucket shops are regulated...but they have one name..."non stop requote"

 

[chrisbliss]

trading with Divisa has been fine so far
so there is no reason for me to leave,
and I don't have a fortune with them.
the confidentiality is something most brokers have,
even MBT when I was with them.
and as I am a client I must honour that rule.
however, Im not favoring only for Divisa as you guys seem to think,
so please stop looking at me as someone promoting only Divisa.
Im open to all sugestions and I do plan to use more than one broker,

Fastbrokers are definitely a MM
Ducascopy used to be one,
I agree they are expensive

how about admd.com?
don't know much about them more than
execution is blazing fast on the demo.
fxcbs.com ? looks nice also

 

[moksha99]

Client money safety is very important aspect to me even if the money involved is small...
It seems it is not important for you guys so lets agree to disagree
Recently in Australia ( which has withstood GFC in much better way and has robust banks) OTC FX broker went bust taking 47 Million with them.. So don;t tell me that this is not an important issue
I guess other aspect one can look at when choosing FX broker is is it part of a bigger organization!
If I use that criteria then Citfx by City Bank in USA and DBfx in Germany might be a good choice
However neither I think are ECN!
SO I wont bother you guys with this NZ mob or fix .. whatever as I am totally confused about what exactly you guys are interested in.
The Confidentiality stuff does not wash with me... what is there to be confidential about basic things? Nonsense
Best of luck

 

[chrisbliss]

ofcource it's important but Sonray capital was a MM dealing CFDs
so your comparision is not even close.
because they are two different brokers
with a compleatly different buisiness model,
there is a much bigger risk a broker like that would collapse,
because they hedge the clients trades,
when you go long they go short simultaniously and vice versa,
they are allways in the market and trading the oposite side,
and price could go against them as for anyone.
their risk was huge and they blew their bank.
the chance for STP brokers such as Finfx and Divisa to collapse
is minimal compared to a MM broker,
because they have no investments,
all they do is picking up the comission.
if a broker is unregulated but is true STP,
I would chose that broker anyday compared to a regulated MM
the risk the MM would go broke is still much larger than for the STP broker
whiter he is regulated or not.
but ofcource it wouldn't hurt if the STP broker was regulated,
regulation is important,
the safety of money can be taken care of other ways
you could insure your trading capital via a insurance company
I don't know what that would cost but it's possible,
you can insure most about everything,
even your own death,
so maybe that is something we could look into?
have you been looking at admd?
they are a US regulated broker.

 

[moksha99]

When I opened with Sonray I was not aware in depth of the MM/ STP issue
Now after loosing money I am wiser
But I still won;t consider a broker without proper regulation and by proper I mean with some govt backed Insurance like SIPC or NGF or FSA
Sonray had public liability insurance but that insurance does not cover them against their own people committing fraud...and I doubt that any such insurance is easy to get .. it seems it is just wishful thinking on your part..have you got any specific details?

So on that count STP or MM both fail in my books
This additional thing about some sort of secrecy about this NZ mob made me wonder even further ( what on earth that can be about...)
Why don't you follow up on the Nz authority feedback I gave you?

 

[chrisbliss]

Im sorry you lost money
but lets face it, MMs as the scum of the earth.
I can certanly understand your concern.
I also lost money but I look at it another way
I prefer to look at the risk something would happend
I did follow up on the feedback,
I made some investigations on my own
and I sent email to several instances ,
it's a djungle out there and very hard to get result
haven't got reply to most of my emails yet even it's gone months now.
don't have any special details on the insurance part,
but I really think it's possible and something we could look into.
I think the best bet would be a US insurance company.
I even heard of taking life insurance on dogs
so why should insurance on capital be impossible,

 

[moksha99]

Chris bliss
I don;t really understand where you stand...It seemed and still seems that you blindly accepted this NZ mob,,,,,and really not concerned about Client money safety!. although I agree with you that STP is better than MM but if broker is crook then how good is it if they are STP or whatever
Don;t you think something is fishy when confidentiality.. WHAT the xxxx for retail accounts I mean mate use simple logic.. to open a retail account of 1000 what on earth can be confidential.. honestly!
bets of luck with insurance... can't isnure capital because the insurance company will look at the regulation under which the broker operates.. if that regulation is not robust.. who is going to insure you?

 

[Als]

Chris bliss
I don;t really understand where you stand...It seemed and still seems that you blindly accepted this NZ mob,,,,,and really not concerned about Client money safety!. although I agree with you that STP is better than MM but if broker is crook then how good is it if they are STP or whatever
Don;t you think something is fishy when confidentiality.. WHAT the xxxx for retail accounts I mean mate use simple logic.. to open a retail account of 1000 what on earth can be confidential.. honestly!
bets of luck with insurance... can't isnure capital because the insurance company will look at the regulation under which the broker operates.. if that regulation is not robust.. who is going to insure you?

"marketing with confidentiality"

funny thing....!

but the other is even more.....

"forex trading with unregulated broker insurance"

 

[Shaun12uk]

"marketing with confidentiality"

funny thing....!

but the other is even more.....

"forex trading with unregulated broker insurance"

Agreed maybe if people emailed these firms and lobbied them to say get regulated and you get my business, if no attempt is then made then you know what kind of firm they are and you stay clear or suffer the consequences!!

 

[rabarbara]

Are orders sent to NZ first when trading through Divisa ? This would make it uninteresting for European traders.