Hi all, this is my first post & I reside in the UK.
I'm new to the foreign exchange market & I'd like to talk about the interactive retail FOREX trading platform (BARX) provided by 'Barclays Stockbrokers' (subsidiary of Barclays Capital)
As you're no doubt aware, Barclays is a regulated AA rated commercial bank, world wide investor & one of the forex interbank market key players.
What I wanted to know was whether trading on 'BARX' will give me like for like price quotes from the bank market itself or whether it acts as a secondary delayed market maker (bucket shop) for Barclays Capital.
They say...'quote'
"No Dealing Desk intervention: we will never ‘read’ your position and adjust a price accordingly. You can be assured of consistent, neutral pricing at all times. We profit from total trading turnover – all client trades are immediately hedged into the FX market through our price providers. We do not run any proprietary FX positions. Our interests are aligned precisely with those of our clients."
Here is the source page with additional info http://www.stockbrokers.barclays.co....ng205&mpch=sem
Then my questions are:
Who are their 'price providers'? If they're at the top overseeing the market being made what it is. Do they refer to others who are themselves?
Is my position only hedged against their other opposing retail clients allowing BARX (Barclays Broker) to profit on both spreads in a fair zero sum game?
Or in times if there's no one to take my counter position am I put at odds against my own bank (Barclays Capital) or would they just not fill the position?
I've also read in their terms & conditions that they take action against anyone deemed to have been using arbitrage so how does that relate to scalping & day trading?
Minimum deposit is £5000 with min 50,000 lots, that sounds about right so far as I undertstand to survive long term in this game you can't be under capitalized.
But please be aware I am very new to this & appologise if I've misinterpreted what I think I know so far, I have so much to learn & clarify beyond this. It'll be at least another year before I even begin to invest for real! But I just wanted to decide which broker I'd use come the time & get to know them better.
So thank you in advance for taking the time & for any replies.
Lee
I'm new to the foreign exchange market & I'd like to talk about the interactive retail FOREX trading platform (BARX) provided by 'Barclays Stockbrokers' (subsidiary of Barclays Capital)
As you're no doubt aware, Barclays is a regulated AA rated commercial bank, world wide investor & one of the forex interbank market key players.
What I wanted to know was whether trading on 'BARX' will give me like for like price quotes from the bank market itself or whether it acts as a secondary delayed market maker (bucket shop) for Barclays Capital.
They say...'quote'
"No Dealing Desk intervention: we will never ‘read’ your position and adjust a price accordingly. You can be assured of consistent, neutral pricing at all times. We profit from total trading turnover – all client trades are immediately hedged into the FX market through our price providers. We do not run any proprietary FX positions. Our interests are aligned precisely with those of our clients."
Here is the source page with additional info http://www.stockbrokers.barclays.co....ng205&mpch=sem
Then my questions are:
Who are their 'price providers'? If they're at the top overseeing the market being made what it is. Do they refer to others who are themselves?
Is my position only hedged against their other opposing retail clients allowing BARX (Barclays Broker) to profit on both spreads in a fair zero sum game?
Or in times if there's no one to take my counter position am I put at odds against my own bank (Barclays Capital) or would they just not fill the position?
I've also read in their terms & conditions that they take action against anyone deemed to have been using arbitrage so how does that relate to scalping & day trading?
Minimum deposit is £5000 with min 50,000 lots, that sounds about right so far as I undertstand to survive long term in this game you can't be under capitalized.
But please be aware I am very new to this & appologise if I've misinterpreted what I think I know so far, I have so much to learn & clarify beyond this. It'll be at least another year before I even begin to invest for real! But I just wanted to decide which broker I'd use come the time & get to know them better.
So thank you in advance for taking the time & for any replies.
Lee