DBFX - anyone trade with them? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Axitrader US: Anyone using them or know about them? 2 replies

dbFX Deutsche Bank 56 replies

DBFX Anyone Noticed Their Charts Changing? 0 replies

Fastbrokersfx - anyone know them / have any experiences with them? 8 replies

Withdrawing funds.....DBFX 2 replies

Attachments: DBFX - anyone trade with them?
Exit Attachments

DBFX - anyone trade with them?

  • #1
  • First Post: Dec 24, 2009 8:52am Dec 24, 2009 8:52am
So lately I've been getting unhappy with Metratrader, somehow I feel unconfortable with it and with brokers using it (it seems to be a favorite of shady brokers - it seems any scammer can get their hands on it). I'm considering using an alternative platform and I've been considering Deutsche Bank Fx. So can anyone share their experiences with them?
Any kind of info is appreciated (are they easy to get in touch with when you're trading with them, are they trying to milk their customers? (my current broker charges almost 1 USD on EUR/USD rollovers)?
  • #2
  • Jan 31, 2010 1:45pm Jan 31, 2010 1:45pm
Quoting hawkman
So lately I've been getting unhappy with Metratrader, somehow I feel unconfortable with it and with brokers using it (it seems to be a favorite of shady brokers - it seems any scammer can get their hands on it). I'm considering using an alternative platform and I've been considering Deutsche Bank Fx. So can anyone share their experiences with them?
Any kind of info is appreciated (are they easy to get in touch with when you're trading with them, are they trying to milk their customers? (my current broker charges almost 1 USD on EUR/USD rollovers)?...
I dont understand why nobody is using them and why nobody answered your question....
People are using other brokers for example like dukascopy who has only 22 million CHF in capital...eventhough I think they're a good ecn broker, their small capital is sort of risky to have your money parked with them....

this forex market is so fragmented that I really don't know who is who and who is trading for real, or just fictive (like market makers..)
  • #3
  • Jan 31, 2010 1:58pm Jan 31, 2010 1:58pm
Im Not sure but i heared that DBFX is using the same trading platform like fxcm have and i also heared by someone that fxcm is dbfx thats why most of customers are with fxcm... Again im saying im not sure...
  • #4
  • Jan 31, 2010 2:05pm Jan 31, 2010 2:05pm
Quoting PipHacker
Im Not sure but i heared that DBFX is using the same trading platform like fxcm have and i also heared by some that fxcm is dbfx thats why most of customers are with fxcm... Again im saying im not sure...

Yea i was right ... watch this video ...its about dbfx trading platform and its same like fxcm
http://www.dbfx.com/forex-trading-pl...ideo-tutorials
i just visit there site and confirmed that...
  • #5
  • Jan 31, 2010 11:20pm Jan 31, 2010 11:20pm
essentially they are FXCM, platform/customer services/spread...they licence their services. If you consider safety of the fund you may go to dbfx at least they say db is behind them.
  • #6
  • Jan 31, 2010 11:26pm Jan 31, 2010 11:26pm
It seems they are down every Monday, it sucks..
  • #7
  • Feb 1, 2010 1:11am Feb 1, 2010 1:11am
3.3 We may combine your orders with orders for our own account or the account of our affiliates or with those of other customers. By aggregating your orders with those of other customers we must reasonably believe that it is unlikely that the aggregation would work overall to the disadvantage of those customers. However, the effect of the aggregation may operate on some occasions to your disadvantage in relation to a particular order. We may fill your orders for a portion of the principal amount specified in the dealing instruction. In such event, the unfilled portion of the order shall remain in effect until withdrawn, cancelled or executed.

*Read the client agreement
  • #8
  • Edited 2:28am Feb 1, 2010 2:12am | Edited 2:28am
Your replies got me curious. So I checked FXCM's website.

Quote
Unless bank spreads widen past 7 pips, the dealing desk broker is protected. During news events and volatile markets, bank spreads can easily widen beyond this amount, which is why dealing desk brokers may heighten restrictions when the market is likely to move.
Alternatively, when trading on any of FXCM's No Dealing Desk platforms [b]there are no restrictions on stop, limit, or entry orders. In fact, clients can place entry orders within the spread. This access is made possible due to the fact that FXCM's No Dealing Desk offering does not require...
Judging from what I know, having no dealing desk would be a good thing? Why are people so negative when it comes to FXCM? Not defending them or anything, I really want to know, that's all.
I'm not sure that the fact that DBFX is using the same platform as FXCM actually means they're related. There's plenty of brokers using MT and no one says it's just one broker with several websites. I wanted to know whether anyone had traded with DBFX, because, as I was unconfortable sending money abroad, I am trading with a broker which has an office in my native country, but they are robbing me blind on swap (I tend to carry positions for a long time and it really adds up) and their spreads are way too big. DBFX had reasonable swaps plus I wouldn't have to send money to god knows whom, and they don't force that FIFO, averaged down crap down my throat (which for me is essential).
  • #9
  • Feb 1, 2010 2:31am Feb 1, 2010 2:31am
Why the hell does this forum truncate quoted text?? I've had to edit the previous twice and still got an ellipsis?
Quote
Alternatively, when trading on any of FXCM's No Dealing Desk platforms there are no restrictions on stop, limit, or entry orders. In fact, clients can place entry orders within the spread. This access is made possible due to the fact that FXCM's No Dealing Desk offering does not require FXCM to manage risk of client trades.
Like I was saying, if they don't have a dealing desk, that would actually make them pretty good (in fact, better than most). Are there any other issues with them?
  • #10
  • Feb 1, 2010 2:33am Feb 1, 2010 2:33am
Quoting hawkman
Your replies got me curious. So I checked FXCM's website.


Judging from what I know, having no dealing desk would be a good thing? Why are people so negative when it comes to FXCM? Not defending them or anything, I really want to know, that's all.
I'm not sure that the fact that DBFX is using the same platform as FXCM actually means they're related. There's plenty of brokers using MT and no one says it's just one broker with several websites. I wanted to know whether anyone had traded with DBFX, because, as I was unconfortable sending money abroad,...
Hawkman !
I think you will hardly find its live customers here for reviews here is a link with reviews of its live customers...
http://www.forexpeacearmy.com/public...w/www.dbfx.com

Maybe helps you
  • #11
  • Feb 1, 2010 8:14am Feb 1, 2010 8:14am
I have downloaded the ticks of both FXCM and DBFX using their API (it's the same one). What I can say is that they have different tick counts in each day, different spreads and different tick values.

I don't know what the relationship is between them, but the price feeds are different, which suggests that DBFX is only using FXCM technology, but not it's liquidity.

Another thing I noticed, is that DBFX requires limits/stops/take profits to be put at least 1-2 pips away from the market. FXCM does not have this requirement.
  • #12
  • Feb 1, 2010 10:55am Feb 1, 2010 10:55am
Quoting Adal
Another thing I noticed, is that DBFX requires limits/stops/take profits to be put at least 1-2 pips away from the market. FXCM does not have this requirement.
That says to me that DBFX has a dealing desk. An ECN doesn't have that restriction.
  • #13
  • Feb 1, 2010 12:31pm Feb 1, 2010 12:31pm
Quoting oakmonster
That says to me that DBFX has a dealing desk. An ECN doesn't have that restriction.
Of course DB is a dealing desk, maybe the biggest in the world, since they are often cited as the no. 1 forex bank in the world.

They are just extending their dealing desk to the retail level, using fxcm technology.
  • #14
  • Feb 1, 2010 1:31pm Feb 1, 2010 1:31pm
I think the biggest difference is, that Deutsche Bank (dbFX) is a bank and not a broker. I've talked to their online support and those people there really knew their business well.

Deutsche Bank is Germanys biggest bank and I don't know if there was any bank/broker, that I would trust more - at least regarding safety of funds

They also offer a bridge to Metatrader from Boston Technologies, just ask the online support.
  • #15
  • Feb 1, 2010 1:37pm Feb 1, 2010 1:37pm
Well, when trading forex, what matters to me most would be security of funds (and actually being able to get my money out if I do decide to close my account) and getting a platform that won't use averaged down positions like that piece of **** metatrader 5, because I don't know how long brokers will keep MT4 around.
Although it's strange...
I ran the IP check myself and it seems that their server is owned by FXCM? What are they, the market maker alternative to the FXCM ECN?
  • #16
  • Feb 1, 2010 7:23pm Feb 1, 2010 7:23pm
Banks are the ultimate market makers in forex, and so is DB.
DB is being making the forex market for decades, and now want part of the retail liquidity. The simple path for them was to license someone else platform and put their own quotes into it.
The fact that DB licensed fxcm platform is meaningless: DB could have licensed any other platform on the market, even metatrader.
  • #17
  • Feb 1, 2010 9:42pm Feb 1, 2010 9:42pm
Attached Image (click to enlarge)
Click to Enlarge Name: spread.png Size: 21 KB


Not Bad
  • #18
  • Feb 2, 2010 9:10pm Feb 2, 2010 9:10pm
Quoting hawkman
Why the hell does this forum truncate quoted text?? I've had to edit the previous twice and still got an ellipsis?

Like I was saying, if they don't have a dealing desk, that would actually make them pretty good (in fact, better than most). Are there any other issues with them?

I found that any fx broker regulated by NFA or any regulations only controls the physical activity of the broker. There is no screening of a brokers trading platform. Hidden code of broker side server can requote the price. And i found many of my customers complients about FXCM is delay execution of orders. They suspect they have dealing disk behind MT4. Delay execution happening at peak time when price bounce from one level to another level quickly. I also found "common error" often found i place new order. In my max delay execution of time is 18 sec. Mostly i lost 5 to 6 pips from the given price. If you ask them about the delay they won't speak about the problem.
  • #19
  • Edited 9:06am Feb 18, 2010 4:42am | Edited 9:06am
which broker is ECN and is good for one retail account of 1000 $ ...coz there is many scamers.....just dont know any more....said that FXPro, Alpari UK are scams ???
can somebody help me with... ( coz many EA works on demo accounts and when goes alive...they goes bad....coz of scamers broker!!!)
can somebody tell me which broker is really good one....??? no scam and ECN and low spread......retail account 1000 $.....

thanx guys
argon
  • #20
  • Feb 19, 2010 12:19pm Feb 19, 2010 12:19pm
The one of the honest ECN Broker i recommend you is MBTrading. Try this broker and give me your feedback.
0 traders viewing now