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[wackypete2]

Branksome,

I understand your valid concerns. Unfortunately I can't speak intelligently about the MF Global affair as I have not followed it much. What you need to know is if the exact same scenario happened in the UK would you be better protected? That's a question I can't answer.

Peter

 

[Branksome]

Branksome,

I understand your valid concerns. Unfortunately I can't speak intelligently about the MF Global affair as I have not followed it much. What you need to know is if the exact same scenario happened in the UK would you be better protected? That's a question I can't answer.

Peter

Peter,

Thanks for your opinions, its appreciated.
I'm pretty sure that if for example I was with IG markets (god forbid!!!) and they went into administration, the FSA would guarantee my funds. Thats my limited understanding of it.
Would this be the same for the us?

 

[Lord Flasheart]

short eur/aud at 1.2948 sl 1.2975

1/2 was taken at +25,rest is now at b/e

 

[Branksome]

Hi guys and congratulations for the thread. I monitor almost daily.
Are you posting only forex trades or other instruments as well, p.e. OIl ?

Since the topic is current, can I ask if you have any opinion as of Global, eCry and TD for futures trading ? How they compare ? Any pros and cons ?

Thanks

To be honest I think Global futures are great, their live chat is always available and service is good.
This kind of follows on from what I've been discussing with Peter...my only concern is that I want to deposit more capital but I want to know that its safe.
My concerns were raised when Open e cry got taken over again by Gain capital having not long been taken over by another firm (forget the name now).
Global futures are the introducing broker by the way.

Maybe I'm just a bit paranoid but rather that than loose my shillings!!

 

[Branksome]

to be honest i think global futures are great, their live chat is always available and service is good.
This kind of follows on from what i've been discussing with peter...my only concern is that i want to deposit more capital but i want to know that its safe.
My concerns were raised when open e cry got taken over again by gain capital having not long been taken over by another firm (forget the name now).
Global futures are the introducing broker by the way.

Maybe i'm just a bit paranoid but rather that than loose my shillings!!

lose****

 

[Lord Flasheart]

Hi Guys,

Apologies for not posting a trade but what broker do you guys use?

Cheers

Im a touch late to the party but i generally use two brokers. GFT and intertrader for my spread betting in uk. I do this as I have very tight spread on majors with intertrader and better spreads on others with gft. Most uk brokers are strickly regulated as are most european brokers.intertrader is what most call a bucket shop. over the years Ive lost my cash to all of the major brokers

 

[Branksome]

Im a touch late to the party but i generally use two brokers. GFT and intertrader for my spread betting in uk. I do this as I have very tight spread on majors with intertrader and better spreads on others with gft. Most uk brokers are strickly regulated as are most european brokers.intertrader is what most call a bucket shop. over the years Ive lost my cash to all of the major brokers

Hi Flasheart,

I lost a lot with the bigger names but was probably down to my inexperience

The thing I like most about global futures is the fact that I have direct market access, no cfd's or spread bets, just me and the exchange prices (I obviously pay comms for the privilege) just like to know that there is zero manipulation from the broker.

Like I said...just concerned about placing more money.

 

[zorbas]

To be honest I think Global futures are great, their live chat is always available and service is good.
This kind of follows on from what I've been discussing with Peter...my only concern is that I want to deposit more capital but I want to know that its safe.
My concerns were raised when Open e cry got taken over again by Gain capital having not long been taken over by another firm (forget the name now).
Global futures are the introducing broker by the way.

Maybe I'm just a bit paranoid but rather that than loose my shillings!!

Thanks

What means that Global are the introducing broker ? Are they a white label of eCry or the opposite ?

 

[zorbas]

Im a touch late to the party but i generally use two brokers. GFT and intertrader for my spread betting in uk. I do this as I have very tight spread on majors with intertrader and better spreads on others with gft. Most uk brokers are strickly regulated as are most european brokers.intertrader is what most call a bucket shop. over the years Ive lost my cash to all of the major brokers

Hi Flash, you keep a great and sincere thread.

May I ask what is with your last sentence "lost my cash to all of the major brokers" ?

 

[Branksome]

Thanks

What means that Global are the introducing broker ? Are they a white label of eCry or the opposite ?

Basically the commissions on trades are paid to global futures but open e cry handle the orders, statements etc. Not sure what you mean by white label.
If you google it you can get a more detailed insight.

 

[zorbas]

Basically the commissions on trades are paid to global futures but open e cry handle the orders, statements etc. Not sure what you mean by white label.
If you google it you can get a more detailed insight.

White label I mean openecry engine packaged with a different brand.
Why one should open an account with global and not go directly with openecry ?
Sorry If I become too inquisitive, but I am looking currently to open an account.

 

[Branksome]

White label I mean openecry engine packaged with a different brand.
Why one should open an account with global and not go directly with openecry ?
Sorry If I become too inquisitive, but I am looking currently to open an account.

To be honest, when I first started looking and researching (as you are now) global futures were recommended to me. I got in touch, liked how they worked and went from there.

 

[Lord Flasheart]

Hi Flash, you keep a great and sincere thread.

May I ask what is with your last sentence "lost my cash to all of the major brokers" ?

I was refering to my personal loses with some brokers,I was not implying any mal practice,although I have had some dodgy things happen,but not recently.

 

[Branksome]

White label I mean openecry engine packaged with a different brand.
Why one should open an account with global and not go directly with openecry ?
Sorry If I become too inquisitive, but I am looking currently to open an account.

Just noticed you trade the dax (thought you were a beginner!!) I trade it too. What broker are you with, seeing as I shared mine

 

[Lord Flasheart]

I feel totally safe if any company has the FSA regulation badge. It at least means the capital is safe. I feel similarly about euro rules as well,but know nothing about us rules so tend to stick to what I know.
People say they are more comfortable with direct access,but when I can get spreads within their prices why not. DA traders tend to see spread betting as the low end of the market. Ive got DA accounts with IG,CMC,etc,etc and yet none of them get close to some of the spread betting firms as far as spreads go.

 

[Branksome]

I feel totally safe if any company has the FSA regulation badge. It at least means the capital is safe. I feel similarly about euro rules as well,but know nothing about us rules so tend to stick to what I know.
People say they are more comfortable with direct access,but when I can get spreads within their prices why not. DA traders tend to see spread betting as the low end of the market. Ive got DA accounts with IG,CMC,etc,etc and yet none of them get close to some of the spread betting firms as far as spreads go.

By direct access I mean that they are the exchange bid and ask for example what eurex is offering for bid/ask so you trade direct with the exchange not through IG'S best bid or offer. So spread is never an issue really. From what I remember IG can only offer something similar with shares not futures.

I'll keep digging about the us version of FSA. Thanks for your help flash:cheesy:

 

[zorbas]

Just noticed you trade the dax (thought you were a beginner!!) I trade it too. What broker are you with, seeing as I shared mine

I use Intertrader mostly for day trades and forex.com for swings. Have also an account with IG but not use it much though.

 

[Branksome]

I use Intertrader mostly for day trades and forex.com for swings. Have also an account with IG but not use it much though.

Are you trading dax cash or futures?

 

[zorbas]

Are you trading dax cash or futures?

Cash on Intertrade and the corresponding future on forex.com (no rollover commissions and relatively good spreads, but limited capability to hedge).
This is why I want to open a pure futures account.

One hour ago I opened a long on US30 on Intertrader, trade was doing ok and moved the stop at breakeven + 1.2 points. Guess what , at around 20:07 it had a retracement and the stop didn't work. I closed manually the trade at -1 point. It was not a guaranteed stop, no complains, but still you do not feel comfortable. this is where you need effectively the hedging capabilities

 

[Branksome]

Cash on Intertrade and the corresponding future on forex.com (no rollover commissions and relatively good spreads, but limited capability to hedge).
This is why I want to open a pure futures account.

One hour ago I opened a long on US30 on Intertrader, trade was doing ok and moved the stop at breakeven + 1.2 points. Guess what , at around 20:07 it had a retracement and the stop didn't work. I closed manually the trade at -1 point. It was not a guaranteed stop, no complains, but still you do not feel comfortable. this is where you need effectively the hedging capabilities

Like I was just saying, you have the exchanges bid/offer so the spread is something I never have to worry about, great for scalping.
Out of interest, what are the spreads for forex.com on a futures contract?