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If you had £100k, which one would you go with? 37 replies

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Which broker accepts Bank Guarantee for 100K?

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  • First Post: Aug 15, 2012 3:49am Aug 15, 2012 3:49am
Hi guys,
As per my knowledge the only broker who can do this is Dukas. And in this case the split is 80/20 bank/broker. Have you heard about somebody else who's ready to accept bank guarantee for 100K deposit? Cheers.
are u making consistent profit, that u are ready to risk 100k?
No place for mistakes
Quoting Soldier
are u making consistent profit, that u are ready to risk 100k?
I'm ready to risk 100K in the context of my trading system but I'm not ready to loose it because of the broker's incompetency. Hence I'd like to find a broker who accepts bank guarantee. That's about it.
Quoting liopro
I'm ready to risk 100K in the context of my trading system but I'm not ready to loose it because of the broker's incompetency. Hence I'd like to find a broker who accepts bank guarantee. That's about it.
Just did a search and not much by way of what I would term "good info" on bank gaurentees..sorry, but maybe, just maybe there is an independent website that can provide more info on this
Quoting Forexnuts
Just did a search and not much by way of what I would term "good info" on bank gaurentees..sorry, but maybe, just maybe there is an independent website that can provide more info on this
Yeah, I know. No info at all. Just thought there're people out here who have such an arrangement.
Quoting Soldier
are u making consistent profit, that u are ready to risk 100k?
Very good question, because any deposit especially with such big amounts is always at high danger. Not because of problems with the broker, but from the trading itself (95% of traders lose). So the chance of losing money with trading is 3847346283646284 times higher than losing money because of the broker
Forex is a losers game.
Quoting trader121
Very good question, because any deposit especially with such big amounts is always at high danger. Not because of problems with the broker, but from the trading itself (95% of traders lose). So the chance of losing money with trading is 3847346283646284 times higher than losing money because of the broker
Well,I answered this question already.The only risk element I worry about is broker's credibility.And for good reason.
You may want to read the Dukascopy thread. The last posts are regarding deposits safety and fills. Your strategy, volume, etc. may be a key for your decision.

Once you read it, ask Marv or Roughneck, they may have suggestions for you
according to their experience.

J.
.
Quoting liopro
Yeah, I know. No info at all. Just thought there're people out here who have such an arrangement.
The weird part, used multiple search strings and for some reason, kept getting EA sales pages..and my brain is going to explode by just putting EA and bank gaurentees in the same line..LOL
BTW, any luck on the info search yet?
Quoting Forexnuts
The weird part, used multiple search strings and for some reason, kept getting EA sales pages..and my brain is going to explode by just putting EA and bank gaurentees in the same line..LOL
BTW, any luck on the info search yet?
No As long as I've found so far the only broker who accepts it is Dukas and they split it 80/20 i.e. 80% of your funds are with your bank and 20% are with them.
Quoting liopro
No As long as I've found so far the only broker who accepts it is Dukas and they split it 80/20 i.e. 80% of your funds are with your bank and 20% are with them.
You would have thought that with more bigger sums being traded on the retail market, there would be some info on this available online.. guess no such luck and we will have to wait for a while..
yeap... not much info around.

I just posted the same question in the Dukascopy thread.
It seem there are a few traders in the forum that trade big amounts,
their own money or third party money do not know... but no one seems
to spell out the "detais" of the security issue.

I mean... if I live in the EU... Have 100K usd... Do I deposit the money in my EU bank, get a letter of credit and trade with any Bank/Broker that accept it? but, why would I do that when.. My EU bank falls into EU regulations and my deposit is secure only to 25 000 euros.

Would be better to deposit my money in a UK Bank... where the max is 50 000 gbp? ... or better in A Swiss Bank that the max is 100 000 chf.. or better in and USA Bank that is 250 000 usd??

But the question remain... who accepts these letters of credit for trading other then Dukascopy??

J.
.
Sooner or later someone will come up with an answer we can all use.

I had the same issue. Very little public information. Was in touch with larger brokers and banks, even had my Financial Advisor ask around.

At 100k, from what I found, it's just wasn't enough money.

Threads like this are always troll-bait. Some FF troll will come and respond to this thread that we are all prima donnas and if we were truly at this level we'd know the answer before we asked it. That's bollocks.
Drink Coffee. Do stupid things faster with more energy.
Quoting forexpenguin
Sooner or later someone will come up with an answer we can all use.

I had the same issue. Very little public information. Was in touch with larger brokers and banks, even had my Financial Advisor ask around.

At 100k, from what I found, it's just wasn't enough money.

Threads like this are always troll-bait. Some FF troll will come and respond to this thread that we are all prima donnas and if we were truly at this level we'd know the answer before we asked it. That's bollocks.
Spot on!They just can't comprehend that if I'm not an ex IB or Hedge Fund trader then internet will be the only source of information no matter how wealthy I am.And it's not enough to be bank or fund employee.You have to be a trader. I say that because I've been working for Deutsche and a couple of other tier ones as IT guy and I know nothing about client/broker relations.
Quoting Forexnuts
You would have thought that with more bigger sums being traded on the retail market, there would be some info on this available online.. guess no such luck and we will have to wait for a while..

easier and more profitable for the bucket broker to open 1,000 accounts at $100 a pop with 50:1 leverage and margin call them all in a day or less then to deal with you and your big money.
Why deposit the full 100k, why not deposit 25% of it (25k) and trade it as if you are trading 100k, I mean risk whatever % of 100k. If you are consistently making profit, then it shall be fine n even if you started with a bad losing streak, you can always deposit some of the remaining 75k
Trade what you see, not what you think.
Quoting jeuro
My EU bank falls into EU regulations and my deposit is secure only to 25 000 euros.
What country is that? AFAIK all EU countries ensure deposits up to 100.000 EUR or a similar amount in countries with non-Euro currencies.
I'm not insane; my mother had me tested.
Quoting RoBiK
What country is that? AFAIK all EU countries ensure deposits up to 100.000 EUR or a similar amount in countries with non-Euro currencies.

That is a good point...actually I am not sure what would apply if depositing the money with the intention of getting a letter of Credit to be presented to another Bank for trading.

The normal 100 000 euros insurance for cash held in the accounts...or
the 25 000 euros for investments. I know in the UK is 85 000 gbp for normal accounts and 50 000 for investment... I am assuming it is the 25k as in UK it is the 50K instead of the 85K

J.
Quoting pip_seeker
easier and more profitable for the bucket broker to open 1,000 accounts at $100 a pop with 50:1 leverage and margin call them all in a day or less then to deal with you and your big money.
For what it's worth, still did another search and got bupkiss for my efforts. Wonder how the big boys are going about it? It just does not make any sense that there's no info on this. Of course, we could all head over to the best hedge fund manager and go through them but this is a valid point, esp where retail market is concerned..
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