dbFX Deutsche Bank

Just sondering who is working the back end for DB? is it FXCM?

the platform is the same as Refco/FXCM and MF

any ideas?

I believe it is actually DB itself, as I know they are major players.....but I cannot be 100% sure.


Clockwork71

Same platform. But they'll never admit their relationship with FXCM. 18 months ago I even wrote to the CEO of DBFX to ask why they needed any relationship with FXCM. He did not reply despite repeated follow ups. Try DBFX's chat - it is answered by FXCM staff. Ask them some questions and then when things get too awkward they'll just close the chat.

It really is amazing and because of this I would not consider them as a provider. NewsTraderFX used to be with them a couple of years ago and, in fairness, he may be able to help you further and his experience was okay then. Sir, just my opinion, make of it what you will. Happy trading.

Download dbfx paltform first you will get a dbfx icon on your desktop then download fxcm platform then you will see 2 fxcm icons on your desktop because your dbfx icon switch to fxcm icon

DB are always being fined by the FSA, I'd stay away. If they try to rip off fund managers and institutional clients your little fx account is history.

Here's the extract from the FSA disciplinary. And I dare say the original question was asked because they're now an advertiser on FF. Oh well, business is business.

The FSA imposed a penalty of £6,363,643 on Deutsche Bank AG ("Deutsche") on 10 April 2006. The penalty was levied for breaching Principle 5 of the FSA's Principles for Businesses, by failing to observe proper standards of market conduct, and Principle 2 of the FSA's Principles for Businesses, by failing to conduct its business with due skill, care and diligence.

Yeah, I figured FXCM was behind the scenes, the also work for MF here in Canada.

Who else do they "white label"?

It seems more of an introducing broker relationship than a whitelabel. Big banks selling their good name and reputation to introduce to retail brokers seems to be the new trend. RBS (RBS Spreadtrader and NatWest Index) introduce to CMC Markets now. Contrary to DB, they openly admit to do so in their disclaimer.

Its all about liquidity no less no more this is a part of the game

Revoke

It's definitely FXCM's software, but dbFX offers more currency pairs than FXCM or MF, so DB might be providing their own liquidity.

Interesting point

There are two things that everyone posting replies seems to be mixing up:

1. DBFX's parent company (DB) is the largest Foreign Exchange Bank in the world. They are the main liquidity provider that most retail Forex Brokers use for their price feed. Many brokers use several price feeds in addition to DB. So first, DBFX is using DB's liquidity and dealing desk. They have admited to me that their London office's dealing desk overseas the retail clients and like many other brokers could if they choose hunt down stop-loss congestion areas by manipulating the price feed that our/your account is attached to. DBFX is a seperate entity from FXCM and is not a white label.

2. DBFX has recently decided to join the retail forex action instead of sitting on the sidelines and taking liquidity from all the other brokers. Take a bigger piece of the pie and become the broker. However, there existing software is designed for heavy hitter clients that have direct lines of credit with the bank and are trading on the institutional side of Foreign exchange. As retail traders, DB & DBFX doesn't have their own software or platform to handle not only our trades, but also the unique back office requirements that retail trading demands. So to enter the retail forex market easier they have entered a lease agreement with FXCM to use their software and software only. This is the same relationship that all brokers that use Metaquotes' Metatrader (MT3/MT4) platforms have with Metaquotes, which is merely a software development company out of the Russia area.

We have been working with DBFX for several weeks in doing due diligence research in developing an IB/Money Manager relationship. If you know the right questions to ask and know when a company is giving you a BS answer, they will usually change their tune and give you a straight forward answer. The problem with most brokers is that most of their employees don't know the answers to the in-depth, nit and gritty questions that picky traders want to know. Trust me, I live 10 minutes from Interbank FX's office and have referred about 20 people to work for them. I know more about their company, software, hardware configurations, server housing, policies, procedures and educational material than most of their employees do. Just because someone works for a company doesn't mean they know everything. As per the individual that wrote to the CEO, that might be overkill and from their perspective a question for someone else that doesn't get paid the amount of money they do and either ignored it or passed it on to someone else that let it fall through the cracks.

You seem to have researched more than I. Your comments may explain their behaviour but does not excuse it. Four letters were not answered.

Their chat operators - FXCM - claimed I was chatting with an employee of DBFX. I was not. When questions were asked on 3 separate occasions using that facility over a week on each occasion they shut down the chat facility completely. Not just blocking me but completely closed it. It remained closed for several hours. On the final point you make to which I refer they may have entered a lease agreement with FXCM to use their software but they also use provide the chat interface. That may make sense but again, why have they instructed FXCM to not openly admit this?

My contention is that all of this hardly inspires confidence when the reasonable conclusion most people would make is that there is something not quite right. Confidence in your business relationships is paramount. DBFX fails to tick so many boxes.

Maybe its "Standard Management Policy" within DB......Would explain why I never got "replies" to my "pay rise" requests...

Bump...

Anyone have anything new to add to this discussion or have an account with DBFX?

Regarding DBfx I have looked into it as well. From my understanding I agree with the above post that FXCM is probably just licensing out its software to them. I especially agree that its just like MT4 and if people dont get that its not the platform but the liquidity provided through the Banks that are attached to that broker that matters then this is a pointless conversation. From what Ive heard about the liquidity available to trade off of, it sounds like they are using their own feed either just through DB or maybe they have some other banks available behind to provide liquidity. Either way if you look at the requirements to get set up (take a look at the application) it sounds like they arent just messing around.

As for the chat thing, I think you need to give it a break. Call in and ask to speak to the right person if you want to get the answer to your questions. I dont understand why people dont just call and speak to the right person to get the answer. You get supposedly shut off from chat and you dont just call in calmly and ask for the details because if you are seriously interested in investing with them, and not just out trying to be a pain I am sure they will cater to you. Also when I went looking for brokers the first thing I did was call into the firm to get information. Screw chat, get a conversation going and see if these people have a clue about the markets... etc. I mean what company wouldnt want your business especially if you are looking into them and why woudnt they answer your questions..

I do understand how there can be many brokers out there who may be concerning to say the least. But when you think about it, in regards to the software, think about how many MT4 brokers there are out there and just start to think about how many different price feeds (good and bad respectively) there are.

Finally and I think this is most important, I am sure a company like Deutsche Bank isnt just going to stick their neck out into the retail forex market and just whitelabel the whole thing out. Think about the consequences to their reputation if they did something like that. I am sure they have access to better price feeds from themselves and why wouldnt they use it. More business for them and its not that hard i am sure to get a price feed going and then just get some of their guys to move into retail sales and support for their forex division. From a business standpoint to me at least that makes the most sense.

i think they are NOT related with the big bad deutschebank in anyway. it just doesn't make sense why all of sudden they should start supporting young traders who soil their pants just thinking about turning a couple hundred dollars into a million in a few weeks.

That’s plain ignorance to think that the world’s largest foreign exchange bank that has been a clearinghouse for most of the major Forex brokers doesn’t see an opportunity to take a bigger piece of the pie in a fast growing retail market. If you don’t think they are the big bank, then you obviously haven’t visited their website or talked to any of their staff. When researching a broker, you need to go beyond looking at online forums or making non-fact based assumptions. The fact is retail Forex trading is part of the bank’s global capital markets division!

I couldn't agree more. Not to mention since they are the largest bank in the world in terms of currency transactions it is hardly a huge risk for them - and they earn the spread. All they did was find another way to make more money.

from dbFX's site:

If you can only trade standard lots with dbFX, then I guess we wont see a lot of FF members joining dbFX any time soon.

And if your account size is big enough to trade standard lots, then you can definitively find better spreads than those...