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  • #21
  • Dec 5, 2007 4:26pm Dec 5, 2007 4:26pm
I was looking forward to my account with them. The thinking was they are big guys and must have tons of liquidity. On my second trade they slipped me huge. Open account and see for yourself
  • #22
  • Dec 5, 2007 4:39pm Dec 5, 2007 4:39pm
Quoting chpok
I was looking forward to my account with them. The thinking was they are big guys and must have tons of liquidity. On my second trade they slipped me huge. Open account and see for yourself
Please tell us the details of the scenario.

Time, market conditions, quoted price, how long it took to fill, etc...

The more details the better!
  • #23
  • Dec 5, 2007 5:08pm Dec 5, 2007 5:08pm
try downloading dbfx platform then download fxcm platform, and watch and see what happens, the dbfx icon become's fxcm icon, so you be loooking at 2 fxcm trade station icon on your desktop, whats up with that.
If I Go Broke Trying Then I Will die happy.
  • #24
  • Dec 5, 2007 5:44pm Dec 5, 2007 5:44pm
Quoting Moe
try downloading dbfx platform then download fxcm platform, and watch and see what happens, the dbfx icon become's fxcm icon, so you be loooking at 2 fxcm trade station icon on your desktop, whats up with that.
Deutsche Bank has licensed FXCM's trading software. That's no secret, but look at the currency pairs dbFX offers and their spreads. Compare those to FXCM. Deutsche Bank provides the liquidity for the dbFX platform.
  • #25
  • Dec 5, 2007 6:07pm Dec 5, 2007 6:07pm
Quoting Tara Stars
Deutsche Bank has licensed FXCM's trading software. That's no secret, but look at the currency pairs dbFX offers and their spreads. Compare those to FXCM. Deutsche Bank provides the liquidity for the dbFX platform.
i understand that, if they realy want retail clients they need to lower there spreads, yes puting your money with them will be safer then any other broker but there spreads sucks compare to odl retail mt-4 platform.
If I Go Broke Trying Then I Will die happy.
  • #26
  • Dec 6, 2007 7:13pm Dec 6, 2007 7:13pm
Look, most brokers are now offering more than 1 type of platform or spread rates. Each type of spread means your account is handled differently. If they have tight spreads (i.e. 1 pip) they are the countertrade and will likely hunt for stops or play with the actual feed or price on their backend to build in a few pips differential for them. If the spread fluctuate it usually means straight through liquidity, so no playing around in the back office (hunting). Depending upon how you trade, each type offers you an advantage so that you can deal with the disadvantages. Everything is dependent upon how you trade, the hours your trade... If you feel that your account/trades are being hunted, look for a different type of spread setup either with the same or different broker. Not every broker or every account type (spreads) is right for everyone!

DBFX doesn't have people sitting at desks hunting down trades/accounts. Everything for them is automated by computer. They have entered the retail market for the ease of making money and attracting customers, they don't need to play games with the accounts they get. If you someone had an experience with slippage, the market liquidity must not have been there. If you don't like that, then look for the type of account options that eliminate this concern. However, I have been an IB long enough to have in-depth conversations with most of the major retail brokers to know that if they offer tight spreads or NO slippage, they are making their money somewhere else with your account. I know a few brokers that hunt down or manipulate the price feed to capture 5-7 pips per trade in addition to spread.

The point is know how the retail market works, how your chosen broker/account is setup for trading, how you trade and how these combinations impact your trading success. Successful long-term trading of the Forex market is more than just opening an account and placing trades. You need to fully understand what you are doing, what they are doing and the "whys" of each. Then you have the edge you need to do it right!
  • #27
  • Dec 6, 2007 7:52pm Dec 6, 2007 7:52pm
Quoting Moe
i understand that, if they realy want retail clients they need to lower there spreads, yes puting your money with them will be safer then any other broker but there spreads sucks compare to odl retail mt-4 platform.
agreed. rather go to MBTrading or Intearctive Broker.
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  • #28
  • Dec 7, 2007 1:54pm Dec 7, 2007 1:54pm
Don't let them convince you into thinking that you're dealing in a real bank environment. It is a retail platform for retail traders applying retail business practices. DBFX is just a name to attract clients and give the bank a hand in retail FX. It is about 5M to open in real bank environment with Deutsche Bank. The bank environment is considerably different from retail for many reasons. If you dropped a 300M trade at DBFX they'd have to freeze the platform and it would be a horror show for the client. Two completely different business practices and two competely different environments. Furthermore, you probably know more about fx than their sales person who just wants you to open an account.

Houdini, CTA
You are what you do, trade with discipline. Chris Lori, CTA
  • #29
  • Dec 7, 2007 2:33pm Dec 7, 2007 2:33pm
Quoting chpok
I was looking forward to my account with them. The thinking was they are big guys and must have tons of liquidity. On my second trade they slipped me huge. Open account and see for yourself
You have been online for some time since asked to talk about your experience and the longer you go without responding the more that it will look like you posted your comments as a shill for another, yet to be named, broker.

Not saying definitively that is what you are doing, but please clarify it for us.
  • #30
  • Dec 7, 2007 2:45pm Dec 7, 2007 2:45pm
Quoting Houdini
Don't let them convince you into thinking that you're dealing in a real bank environment. It is a retail platform for retail traders applying retail business practices. DBFX is just a name to attract clients and give the bank a hand in retail FX. It is about 5M to open in real bank environment with Deutsche Bank. The bank environment is considerably different from retail for many reasons. If you dropped a 300M trade at DBFX they'd have to freeze the platform and it would be a horror show for the client. Two completely different business practices and two competely different environments. Furthermore, you probably know more about fx than their sales person who just wants you to open an account.

Houdini, CTA
Likely 100% on the mark but I would like to read more about how you formed your opinion.
  • #31
  • Dec 7, 2007 4:19pm Dec 7, 2007 4:19pm
Hi JFX81

I have cleared with Deutsche, Frankfurt on an institutional level.

Houdini, CTA
You are what you do, trade with discipline. Chris Lori, CTA
  • #32
  • Dec 7, 2007 4:28pm Dec 7, 2007 4:28pm
Quoting Houdini
Hi JFX81

I have cleared with Deutsche, Frankfurt on an institutional level.

Houdini, CTA
Thanks for your input Houdini!
  • #33
  • Edited 5:05pm Dec 7, 2007 4:45pm | Edited 5:05pm
My pleasure JFX18, I'm happy to contribute, although some of my comments may be a little firm. This industry needs a few watch dogs on either side. To inform new aspiring traders of certain unauthentic soliciting predators on one side, and to manage expectations, as well as guide, aspiring traders on the other.
You are what you do, trade with discipline. Chris Lori, CTA
  • #34
  • Dec 7, 2007 5:10pm Dec 7, 2007 5:10pm
John, i like your website. Clean and simple. H
You are what you do, trade with discipline. Chris Lori, CTA
  • #35
  • Dec 7, 2007 7:09pm Dec 7, 2007 7:09pm
I think your comments about watchdogs being necessary for both sides are completely on target.

Glad you liked the website, cluttered sites with a million flashing neon signs remind me too much of fast food or Las Vegas.
  • #36
  • Dec 9, 2007 6:10pm Dec 9, 2007 6:10pm
Bump

Does anyone who actually trades with DBFX have any input on their own personal experience with this broker?
  • #37
  • Dec 10, 2007 10:15pm Dec 10, 2007 10:15pm
As an ex-employee (twice ! !) of Deutsche Bank thought I'd "stick up" for one of my old "paymasters"
Quote
if they realy want retail clients they need to lower there spreads, yes puting your money with them will be safer then any other broker
I guess they are not(currently) targeting the mini a/cs who may often go for the lowest spread/highest margin type a/c's.
Maybe dbFX/DB think the DB name and its perceived "safety" will attract "larger" a/c's where "safety" is more important. If they do want to attract more/smaller a/cs then thats when we may see them reduce spreads.

Quote
Don't let them convince you into thinking that you're dealing in a real bank environment. It is a retail platform for retail traders applying retail business practices. DBFX is just a name to attract clients and give the bank a hand in retail FX.....Two completely different business practices and two competely different environments.....
Agreed - Why would a "retail trader" expect to be "dealing in a real bank environment?"

Quote
Does anyone who actually trades with DBFX have any input on their own personal experience with this broker
Hmmmm .....Not many stepping forward yet ... .I guess the dbFX "business plan" of wider spreads and not offering an MT4 platform rules out 95% of members here
  • #38
  • Dec 12, 2007 5:01pm Dec 12, 2007 5:01pm
Just take from what people say about FXCM and apply it to this new high profile DBfx mask their now hiding behind, http://www.elitetrader.com/vb/showth...6&pagenumber=1 quoted form a post at elite. “A wolf is sheep’s clothing!!!
  • #39
  • Dec 12, 2007 5:34pm Dec 12, 2007 5:34pm
Quoting KasperFX
Just take from what people say about FXCM and apply it to this new high profile DBfx mask their now hiding behind, http://www.elitetrader.com/vb/showth...6&pagenumber=1 quoted form a post at elite. “A wolf is sheep’s clothing!!!
The problem is that is ALL CONJECTURE.

Right?
  • #40
  • Dec 12, 2007 6:10pm Dec 12, 2007 6:10pm
Quoting chevelle
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?

About 3 months ago ,I spent about 1/2 hour with a rep from dbFX (who incidentally was in an office literally across from mine in the Financial District). He was a sales rep, and walked me through their latest software. I personally did not like the software at all, but that's just personal taste.

dbFX claims to account for 20% of all FOREX volume, but in their retail dealings they are nothing more than a big bucket-shop. your trades will be evaluated by their back-office and Deutsche will only enter interbank as needed based on their own internal risk calculations.

In other words, you're likely to never actually participate i nthe interbank Forex market. I am repeating only what i was told on the phone.

I had complained that their spreads are not as tight as what I would consider industry-standard. Sure enough, a month later I got another call letting me know they will lower the spread if you keep a certain volume (don't remember what it was). Didn't convince me. The good thing about Deutsche is: they're less likely to go away, and because they're big, they get more scrutiny than some run-off-the-mill FX broker on the net.

That said, almost all FX brokers I know about are essentially bucket-shops/ Market Makers, and try to keep your transaction in-house whenever possible.
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