DislikedNow, I'm being forced to either close my account or sign-on with Forex.com!Ignored
Deutsche Bank FX (DBFX)...post experience! 25 replies
mt4 at the biggest bank in the world! DBFX! 8 replies
dbFX Deutsche Bank 56 replies
Has anybody got experience with Deutsche Bank (DBFX) 10 replies
Withdrawing funds.....DBFX 2 replies
DislikedNow, I'm being forced to either close my account or sign-on with Forex.com!Ignored
DislikedSurprised that FXCM didn't put up a harder fight to keep the accounts since the platforms were connected.Ignored
NEW YORK, NY, April 20, 2011 –Since 2006 FXCM has had a facilities management agreement with Deutsche Bank to provide technology, systems and personnel associated with DB’s retail FX offering, dbFX. On April 20, 2011 Deutsche Bank indicated it will be selling the dbFX client accounts and exiting the dbFX business. Earlier this year, FXCM had discussions with Deutsche Bank about purchasing these accounts. FXCM has a disciplined process for evaluating potential acquisitions and establishing their potential value to the company weighing important factors such as client concentration, brand loyalty and projected attrition. After considering these factors, FXCM made an offer to Deutsche Bank that reflected what we believed to be the full value of those accounts after the attrition associated with client transition.
Deutsche Bank was able to find a buyer willing to pay a higher price and will be offering dbFX clients the option to transition their accounts off the current DB/FXCM platform onto the buyer’s platform or closing their accounts. Clients can continue to trade on the dbFX platform until May 13, at which time dbFX will stop offering this service.
Revenues from the dbFX agreement represented 2.3% of total FXCM revenues In 2010, and a smaller percentage in the first quarter of 2011. Since the inception of our agreement, client equity from dbFX clients was deposited with Deutsche Bank and was never included in client equity figures for FXCM.
Per the terms of our contract, FXCM will be assisting Deutsche Bank with the wind down of dbFX, including transferring accounts to the buyer or closing them down, based on the individual account holders instructions.
http://ir.fxcm.com/phoenix.zhtml?c=2...064&highlight=
DislikedWell DB ist not totaly out of forex buisness for clients , they still have there own AutobahnFX plattform
http://www.autobahnfx.com/index.htmlIgnored
DislikedThanks!.
Moving forwards, looks like the next best candidate is probably CITIFX. Need more times to search DBFX replacement.
Looking forward for recommendation and advices.
Have a nice day guys and cheers!!Ignored
Dislikedthats the only other bank thats in retail forex CITIFX is on your sideIgnored
DislikedWhat would be the effect of DBFX quitting forex on world stock markets?Ignored
DislikedWhat would be the effect of DBFX quitting forex on world stock markets?Ignored
DislikedDeutsche Bank is one of the biggest FX players and that won't change. They are just not interested anymore in dealing with the average Joe Shmoe.Ignored