Aja: is CollectiveFX introducing only - i.e. you send the money directly to Citi, or do you send the money to a CollectiveFX account? Where are they domiciled, and what is their regulatory status?
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DislikedThey're unregulated and dont need to be since they NEVER hold your trade.Ignored
DislikedI'm surprised CollectiveFX wasn't one of the shops recently sued by the CFTC. These guys could not be more shady - no NFA registration, no names, no address, and pretty much a blank homepage right now. On top of all of this, they had a bizarre monthly subscription requirement. How on earth they ever managed to attract business is beyond me..Ignored
DislikedInteresting ... I've been waiting for the old cfx site to come back up, and just found the following through google - looks like a EU accented presence given the spot fx legalities coming out of the US. Nothing yet officially launched to existing customers, and it's still heavily under construction, but certainly more impressive: http://thecollectivefxeu.comIgnored
DislikedNot surprised, since their US outfit wasn't legal without NFA registration. Still, $975 a month? I don't see the purpose in disguising a commission model as a monthly fee, just use an upfront commission model like every other ECN.
I'm guessing the site not being updated since last December likely has something to do with this..
The Collective FX sues Boston TechnologiesIgnored
DislikedI have not found any this good or pure in pricing & completely without the MT4 trickery.Ignored
QuoteDislikedThe prices above are right ~$140 gets you 45 lots/month, which is probably beyond a large swath of retailers, at least on these pages.
DislikedI don't trade via MT4 so I can't comment. Though I can't imagine the ECNs which have launched their own MT4 offerings are up to any trickery.Ignored
Disliked... I'm curious how they intend to bridge with Hotspot for retail traders when Hotspot's minimum order size is 500k (at least a couple years ago when I tried them, they may be down to 100k, though that still excludes a lot of the retail space).Ignored