New Forex Company. I will do this the right way

I have monitored this forum for some time now. Either here or other watch dog sites I see the same thing said again and again. A Forex brokerage company stealing or manipulating the system in order to steal from the trader.

It is time that Forex traders have a good option and place to trade.

I am in the process of opening a Forex brokerage company. I have own a percentage of a Stock brokerage company in the past and have been registered in the USA. Therefore I understand what is required.

I am in fact doing some very unique financing and planning with this Forex Company. I would invite you to simply view my web site which explains my actions.

One of the unique plans I have to capitalize my firm and expand my presents is to offer 300 traders a no commission and no spread increase in trading. The first 300 traders will pay a one time fee of 1000.00 usd. After that there are no additional spreads or commissions. This is truly a good situation for each party. The 300 traders will save thousands on spreads and commissions and I will be able to raise capital.

The idea behind this promotion is simple and I believe will be effective. These first 300 traders will be able to trade as long as they want with no fees or spreads. These 300 traders will also will be the first 300 Ib. That means there will be 300 traders who want to help me succeed and promote this Forex company.

In order for a brokerage company to stay in business it must make a profit. This is done by increasing the spread so as to make a few dollars per trade. There is nothing wrong with this. However, when the companies manipulate or figure out a way to cause a lost in a trade then that is when it is criminal.

I will offer a fair spread with STP trading. As a Forex company, that means I will not make as much as a trading Desk or a person who is stealing but I believe that in the long run all traders want to trade in a place where they know they are not being stolen from or manipulated.

Please check out my web site and lets talk and ask me questions. The Forex firm would be a benefit for all traders who want to do their best to put the odds in their favor.

Sincerely
David

www.firstforexofamerica.com

1. Can Aussies join?

1. what platform do you plan to offer?

3. What security do the first 300 deposits have?

cheers,

This is open to anyone who wants to be part of the first 300.

The platform is the metatrader 4.

As to the security of the first 300..... I wish I could guarantee that we would all be successful but I can not. That is probably not what you want to hear. But part of building what I want to build involves stating the facts and not telling you just what you want to hear.

You will receive weekly updates from explaining the status of the company and process. All funds will be accounted for thru the weekly reports sent to each of the 300 and posted on the web site.

One point that might make you feel more comfortable is I am using paypal. If you have a paypal account then you know that they validated my account information and made sure I am a real person. However, Liberty Reserve does not go thru those types of requirements.

My suggestion in closing to you would be for you and I to continue our conversation via email and get to know me and ask many more questions. You can find my email at the web site.

I look forward to hearing more from you

David

Your words sound like the words of all Brokerages starting out. I wouldnt touch this unless it could be demoed and/or tested(the actual trading environment). If you came with an actual pedigree maybe but sending out 1000 bucks to every one who says their the sh_t-no way. Need proof of worth. Only time can deliver that one.Good luck anyway.Hope you are what u say.

Nice offer but you should accept at least enough funds from an investor to setup the trading server. It would be impossible for me to send 1K before I demo the spreads, the latency and slippage. - Even if you only setup EURUSD on the server it would allow us to test your offer in LIVE conditions. I would suggest setting up a trading server with a 1 pip markup so trading could be tested live while you recoup some part of the costs THEN allow the 300 to trade at a 1 pip discount. I'm from the I gotta see it to believe it school.

Yes sir you are correct, this is a new Forex Brokerage firm. However As to testing in a trading environment, I do not need to blaze a new trail here. The OTC is already established. I just have to offer the system to let the traders trade without manipulation. That is why it is STP.

I rather have a million clients and make an honest dime than to steel a million from one person.

Keep an eye on me.

Good luck with your venture. Hope it works out for you and your clients.

I'm sure that you understand the skeptics, but if you have to raise money to even get this off of the ground, the prognosis for the immediate future seems dim. Good luck though.

Now let me add this: you should have probably posted this in the commercial forum (under evaluation).

Thank you for your suggestion but that is a departure from the business plan. At my website you will see where I have a few investors who can pay for all of this by themselves. A few friends that I have known for a long time. But my plan is to bring on 300 traders who will also be willing to act as ib too. That will be 300 traders spreading the word about this new company.

As I said before, the technology is already in place. I am not inventing anything new. But it does take money to access this technology.

No 1 pip discount simply no increase in spreads at all. That is much better and a great return on the investors 1000.00 pre pay.

Thank you for your kind suggestion.
David

So you are looking for people to pay USD 1000 to some offshore company and then act as shills for you('spread word of mouth')? You don't even provide a firm name let alone a hard street addess. Its almost amusing, but i'm sure you will find some gullibe enough persons to send you some dough. This thread should be deleted immediately.

I fully understand the skeptics, It appears that the all of the Forex companies some way or the other have a very dark side to them. Even the "good ones" seen to have their issues. Dont misunderstand my post here. There have been two years of planning and research just to get to this point that I am now ready to undertake. Caution is always good.

Thank you

David

yes, first forex of America. The way the off shore company works is simple, the incorporation papers are filed in a country other than America. Then once incorporated the newly formed corporation establishes a bank account and business presences in America. In my case it will be a Dallas, Texas address. However, we will attract clients world wide just as other firms do. But the firm is considered to be an "off shore" company.

I dont understand the word "shills" but in fact all Forex brokerages do have IB programs. That too is part of my business plan. By making a request to delete this tread then you are implying that my intentions are less than honorable based on no information. It is always easy to find fault but if you do have any suggestions that would be helpful to this list I do welcome your input.

sincerely
David

i cant wait to see how this thread evolves

interesting.

My post was moved to the "Under Evaluation" heading. I thought they cancelled my account. So I must admit I am a little confused about this.

David

Where else should it go? A commercial venture belongs in the commercial forum. The thread doesn't have the rating required to go in the other part of the commercial forum, thus it goes here.

Exactly.

300k as startup capital seems quite thin - nfa and cftc aside - but being offshore I don't presume you intend to subscribe to such organizations.

Who the liquidity providers may be is also another part of the puzzle.

All the same good luck

This isn't that unique at all. Companies like this exist already, they are called ECNs...the vast majority of established mm's are fine, and so are the ECNs. ECNs offer very low spreads too..

To save a point or two of commission, I reckon you will have a lot of interest from scalpers and high frequency traders (among all the complete fools who hang around in the 'trading systems' section checking if their strands of spaghetti are making pretty colours or patterns). How will you be able to tolerate a potentially huge order flow through your server. What is the bitrate of your connection, and which ECN are you connected to?

Just a couple of important questions people need to know.

Another point. I think that getting people that you have never met to finance your business startup, promising that they would never pay any commissions is a very sly tactic. What is the total cost of financing this venture? If it is 300k, and not significantly more, then this shows that all you are doing is effectively trying to start a business without putting any personal risk in at all. Although this may seem like a perfect business idea, from an investor's or clients point of view, although not illegal, it does seem immoral.

a side issue: if you only managed 300 clients or less, would you still continue with the venture?

What a load of old nonsense!

You cannot start a proper (financial services) company this way.

Penny numbers!

You might start a sandwich round by coming to a 'factory' and touting for business.

Absolute rubbish!!

Just my two cents, you'll not get any more from me.

prheddy-tell us how u really feel?
u can start this kind of venture for a lot less than 300k startup.That may be why there are so many crappy/criminal brokerages out there?Whats a "sandwich round"?