Tadawul FX (TDFX) Discussion | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Tadawul Closing All USA Accounts 10 replies

TDFX - Conditions for Islamic Trading 6 replies

Euro/Dollar discussion 9 replies

Anyone use tdfx broker? 0 replies

TDFX Data Feed 4 replies

Attachments: Tadawul FX (TDFX) Discussion
Exit Attachments

Tadawul FX (TDFX) Discussion

  • #121
  • Aug 31, 2010 6:05am Aug 31, 2010 6:05am
Hi All,

Just a quick note to say that Tadawul FX has extended the "NO FEES on All Deposits" promotion until the 30th of September. See details here http://bit.ly/dlnIOO

Thank you for your wonderful feedback, we greatly appreciate your support!

Kind Regards,
  • #122
  • Aug 31, 2010 11:14am Aug 31, 2010 11:14am
Hi Kate,

Why you're not answering my question?


Kind Regards,
  • #123
  • Aug 31, 2010 11:21am Aug 31, 2010 11:21am
Hi,

I was just looking through the website, and the MAM videos, it seems that the EUR/USD spread is 4 pips? only 4 decimal places? Also, the 2nd MAM video where there a sub-account position was fully closed, and subsequently master-account partial close half the size, the resulting size allocation seems to have some errors.

Hope to get some clarification here, and keep up the good work in answering our questions.
Thank you.
  • #124
  • Sep 1, 2010 8:56am Sep 1, 2010 8:56am
Quoting legolass
Indonesian, singapore or australia, what i know instaforex have office in indonesian. Also IBFX just open in australia.

yes, i speak bahasa (indonesian, may be well know with one island called Bali).
bahasa is my primary language, my english not very good sorry

Hi Kate i want to ask you some question
1. about segregation account, what the different with dukascopy?
2. how much capital on the account for client to get bank guarantee?
3. is there...


Hi Legolass,

You had loads of questions this time!

(BTW Lucky you. Bali is beautiful!)

I imagine opening an office in the Asian region is a possibility, but it all comes down to finding the right strategic partners. Depending on the profile of the partner we currently look for different types of cooperation:
1) Introducing Broker (IB)
2) White Label
3) Representative
Usually we recommend that all partnerships start off with an IB partnership which allows one to learn about TDFX, how it operates and determine whether it is a ‘good fit.’ Also this is risk-free and cost-free which is always a plus. Some of our IBs have been exceptionally successful and opened their own businesses (under the White Label partnership) or a representative office. We are always on the lookout for established entrepreneurs so if you or someone you know is interested in learning more please contact me at [email protected].

Now, to answer your questions:
1) I cannot comment on the segregated accounts of Dukascopy, but I will inform you of the TDFX segregated accounts and then you can make the comparison. When referring to segregated accounts, Tadawul FX refers to bank accounts that have been formed in line with European regulations and are bank accounts where Tadawul FX holds its clients’ funds. The segregated accounts are separate accounts form company accounts and cannot be touched/used for any reason other than (1) to cover clients’ positions in the market, (2) to reimburse clients in the unlikely event that the company goes into default. During the regular internal and external audits, thorough checks are done to make sure that the accounts are never touched (eg. to pay company bills or obligations). In the unlikely event that Tadawul FX goes into default and cannot pay all of its clients back, the Investor Compensation Fund is used which is specifically formed for this reason and offers additional protection to all retail clients.

2) I am not entirely sure what you mean by this question. Could you please clarify so I can answer your questionsufficiently.

3) The Investor Compensation Fund currently compensates a maximum of 20,000 EUR per trader. They might increase this limit (like the FSA fund did this year), but I am not aware of any changes in the near future.

4) You can see some pictures of the Head Office on our facebook page now and in September we will also update our website with some pictures of the management team. So stay tuned!
I have also passed the information to the marketing team regarding CFDs education and this is in the pipeline. We want to make sure we deliver excellent resources on this.

5) Lastly, Google doesn’t currently have Cyprus listed on their “country list” to enable me to mark TDFX on google maps. But we have a ticket with the Google team so they will let us know as soon as it becomes available.

Have a great day!
  • #125
  • Sep 1, 2010 9:29am Sep 1, 2010 9:29am
Quoting paulng
Hi,

I was just looking through the website, and the MAM videos, it seems that the EUR/USD spread is 4 pips? only 4 decimal places? Also, the 2nd MAM video where there a sub-account position was fully closed, and subsequently master-account partial close half the size, the resulting size allocation seems to have some errors.

Hope to get some clarification here, and keep up the good work in answering our questions.
Thank you.
Hi Paulng,

Thanks for your feedback.

The MAM video you find on our website is from our MAM provider and does not reflect spreads offered by Tadawul FX. The video is there as an example only and shows traders the MAM’s functionalities. The spread on EUR/USD is fixed at 3 pips (on MINI account), 2 pips (on Standard account), and 1 pip (on Premium account). Here’s the full list of spreads: http://www.tadawulfx.com/public/trad...s/spreads.html . Also to confirm, Tadawul FX offers prices with 4 decimal places. Brokers working with MT4 can choose how they wish to display prices through the platform, and we decided to keep it at 4 digits (primarily because we offer fixed spreads).

The MAM platform we offer allows for 6 different allocations (which is rare to find these days).
1) Lot allocation
2) Proportion by balance
3) Proportion by equity
4) Percent allocation
5) Equity percent allocation
6) Allocation by equal risk

If you have any more questions or would like more information about MAM, please let me know on [email protected] and I will get one of my colleagues to contact you to discuss in detail.

Have a great day.
  • #126
  • Sep 5, 2010 10:35pm Sep 5, 2010 10:35pm
Hello, sorry my English is a bit regulate my language is Spanish, I'm very angry about his handling of his platform, today September 5, 2010, are activated by two stop orders pending, with the market closed, my mind is the 10008161 mini, orders are executed hours 23:07 3279908 pound-dollar pair and performed 3,279,913 hours of 23:08 euro-yen pair, these two orders had expired, also when I run the market was closed, not trust in their regulation, distrust of everything done for you, I prompt response. and refund the money.

see attached file
Thank you.

Manuel Cuello
Attached Image (click to enlarge)
Click to Enlarge Name: Tadawul.jpg Size: 22 KB
  • #127
  • Edited 7:33am Sep 8, 2010 1:51am | Edited 7:33am
Quoting manuel6926
Hello, sorry my English is a bit regulate my language is Spanish, I'm very angry about his handling of his platform, today September 5, 2010, are activated by two stop orders pending, with the market closed, my mind is the 10008161 mini, orders are executed hours 23:07 3279908 pound-dollar pair and performed 3,279,913 hours of 23:08 euro-yen pair, these two orders had expired, also when I run the market was closed, not trust in their regulation, distrust of everything done for you, I prompt response. and refund the money.

see...

Hi Manuel6926,

Please refer to the many correspondences your Account Manager, Michael has had with you. As he advised please note that the markets open at 23:00 CET on Sunday and this is when the price feed starts to stream and when all pending orders are activated. Tadawul FX trading hours however, start at 24:00, so if you try to trade before then you would not be able to and would get an appropritate message to inform you. Please speak with someone who can help you translate this into Spanish as it seems that there has been some misunderstanding here.

All the best!
  • #128
  • Sep 8, 2010 5:18pm Sep 8, 2010 5:18pm
Hi Kate,

The CFTC recently approved regulations requiring 1:50 margin requirements for US based forex brokers.

Do you allow US citizens to open accounts with TDFX? What are the margin requirements for US citizens?

thanks,
JM
  • #129
  • Sep 9, 2010 1:54am Sep 9, 2010 1:54am
Quoting jm8985
Hi Kate,

The CFTC recently approved regulations requiring 1:50 margin requirements for US based forex brokers.

Do you allow US citizens to open accounts with TDFX? What are the margin requirements for US citizens?

thanks,
JM
Hi Jm8985,

Very good question.

Tadawul FX will continue to accept US clients and offer leverage of up to 1:500 to all clients (on all accounts with balances $150,000 and less). As we are a European licensed firm, the new rules introduced by CFTC will not affect us and business will continue as normal.

Let me know if you have any other concerns.

Warm Regards,
  • #130
  • Sep 9, 2010 6:47am Sep 9, 2010 6:47am
Quoting TDFX
Hi Jm8985,

Very good question.

Tadawul FX will continue to accept US clients and offer leverage of up to 1:500 to all clients (on all accounts with balances $150,000 and less). As we are a European licensed firm, the new rules introduced by CFTC will not affect us and business will continue as normal.

Let me know if you have any other concerns.

Warm Regards,...
I wouldn't be so sure of that. The new rules might not affect overseas brokers, but it could very well affect US traders.

We'll see of course, but one interpretation I've read (in the FXCM discussion thread), is that the CFTC will require US residents to repatriate their funds back to the US, to be held at a US broker. And in my reading of the documentation it seems a possibility to me. I've attached it for reference, but read page 2.

The excerpt says:

"Moreover, where the list of eligible counterparties previously included “financial institutions,” the Dodd-Frank Act specifically provides that among financial institutions, only United States financial institutions are permitted to act as counterparties."

Again, I think the jury is still out on this, but for the traders reading this (not the TDFX rep), realize that she has a vested interest in keeping US accounts at her place of employment. That's fine, but I'm just suggesting to do your own homework rather than take a broker rep's interpretation as the final authority on the matter, as she's not the one who will have to deal with the IRS and government agencies if there's a problem. I hope US residents can still use overseas brokers, but I'm waiting until after Oct 18th to see how this all plays out...for what it's worth.
Attached File(s)
File Type: pdf forexfinalrule_qa.pdf   92 KB | 622 downloads
  • #131
  • Sep 10, 2010 2:01am Sep 10, 2010 2:01am
Quoting TC East
I wouldn't be so sure of that. The new rules might not affect overseas brokers, but it could very well affect US traders.

We'll see of course, but one interpretation I've read (in the FXCM discussion thread), is that the CFTC will require US residents to repatriate their funds back to the US, to be held at a US broker. And in my reading of the documentation it seems a possibility to me. I've attached it for reference, but read page 2.

The excerpt says:

"Moreover, where the list of eligible counterparties previously included “financial...

Hi TC East,

I agree with you, the new rules are open to interpretation regarding whether or not it will be required for US residents to repatriate their funds back to the US. We have been in contact with CFTC but it still remains unclear and we have to see how the rules play our in reality.

One thing certain is that Tadawul FX will continue to operate as normal. Whether the US residence will be affected or not is another matter.

We have requested clarification and as soon as we get some answers I will inform you.

Best Regards,
  • #132
  • Sep 10, 2010 4:33am Sep 10, 2010 4:33am
Quoting TDFX
Hi TC East,

I agree with you, the new rules are open to interpretation regarding whether or not it will be required for US residents to repatriate their funds back to the US. We have been in contact with CFTC but it still remains unclear and we have to see how the rules play our in reality.

One thing certain is that Tadawul FX will continue to operate as normal. Whether the US residence will be affected or not is another matter.

[size=3][font=Calibri]We...
Ok good enough thank you. I would love to be able to have an overseas account after all this so if it works out that's great, but it just doesn't look very good right now...
  • #133
  • Edited 4:50pm Sep 11, 2010 3:18pm | Edited 4:50pm
I will eventually want to go live but looking over the withdrawl options and they seem expensive. Will there be more options in the near future. I know TDFX does not charge for someone to withdraw their money but the bank fees/paypal fees seem insane, I could not give away that much profit and would have to go elsewhere with reasonable withdrawl options.

Am I reading correctly the amount that is charged?
  • #134
  • Sep 14, 2010 9:34am Sep 14, 2010 9:34am
Quoting EricF
I will eventually want to go live but looking over the withdrawl options and they seem expensive. Will there be more options in the near future. I know TDFX does not charge for someone to withdraw their money but the bank fees/paypal fees seem insane, I could not give away that much profit and would have to go elsewhere with reasonable withdrawl options.

Am I reading correctly the amount that is charged?


Hi ErikF

Not too sure of the fees you are referring to, so I have listed the current TDFX withdrawal options and fees below. I believe these fees are more or less standard in the forex industry with most companies.

1) PayPal – 1.9% (plus 20 cents) per transaction charged by PayPal. So for example if you are withdrawing USD1000, you would get charged $19.20.


2) Bank Wire transfer – 4.80 EUR + 0.06% of the balance (minimum being 5.00 EUR) for amounts of 2,000 EUR and less. So for example when withdrawing 1000 EUR, you would get charged less than 10 EUR. There might also be additional charges if the wire transfer goes through an intermediary bank (ranging between 10-30 EUR depending on the amount and where the funds are being sent).

TDFX will soon offer a 3rd Method of Payment which will even have less fees.

As I’m sure you are already aware, all deposits currently have no fees (so that’s a small saving to start with).

Hope that helps.

Kind Regards,
  • #135
  • Sep 14, 2010 11:20am Sep 14, 2010 11:20am
Thank you Kate for the layout on fees. I did look over the fee structure but came up with a different figure, my math skills are lacking lol. The way you explained it is very helpful and makes perfect sense. Still would like to see an option that includes a visa/debit card if possible. Still testing the demo but all is going well.
  • #136
  • Sep 15, 2010 1:24am Sep 15, 2010 1:24am
Quoting EricF
Thank you Kate for the layout on fees. I did look over the fee structure but came up with a different figure, my math skills are lacking lol. The way you explained it is very helpful and makes perfect sense. Still would like to see an option that includes a visa/debit card if possible. Still testing the demo but all is going well.
My pleasure, and good to hear all is going well with the demo!

I will let you know about the credit card payment option very soon.

Kind Regards,
  • #137
  • Sep 15, 2010 2:07am Sep 15, 2010 2:07am
Quoting MaXeY
TDFX have bad execution during fast-markets conditions

ex:

11:30:00 '10004527': instant order buy 3.00 GBPUSD at 1.4490 sl: 0.0000 tp: 0.0000
11:30:00 '10004527': request was accepted by server
11:30:05 '10004527': request in process
11:30:10 '10004527': requote 1.4513 / 1.4516 for open buy 3.00 GBPUSD at 1.4490 sl: 0.0000 tp: 0.0000

14:00:01 '10004527': instant order sell 3.00 USDCAD at 1.0442 sl: 0.0000 tp: 0.0000
14:00:01 '10004527': request was accepted by server
14:00:07 '10004527': request in process
14:00:27 '10004527': requote 1.0369...
You are right MaXeY!

Demo was very fast, didn't have any "request in process", but in real, there are many.
Attached Image (click to enlarge)
Click to Enlarge Name: tada.gif Size: 74 KB
All that we are is the result of what we have thought.Buddha
  • #138
  • Sep 20, 2010 10:37am Sep 20, 2010 10:37am
Quoting orion86
You are right MaXeY!

Demo was very fast, didn't have any "request in process", but in real, there are many.


Hi Orion,

The “requests in process” can occur around the time of news releases or high volatility in the market because the markets move fast and it becomes difficult to “catch the rate.”

In such conditions traders usually experience one of the following:
1) Increase in spread and usually no requotes (although with some brokers you get spread widening AND requotes). Increasing the spread allows the broker to protect itself from unexpected market movements and is part of risk management. Unfortunately, sometimes the spread is widening so much that you are hit with a bad surprise and your profits are significantly reduced.
2) Requotes and no spread widening. Tadawul FX is a forex firm that covers all Live trades in the real market. Demo trades on the other hand are not covered in the real market and this is why demo trading is usually considered virtual trading. For this very reason a trader might sometimes experience requotes on a live account but never on a demo account.
3) No requotes and no spread widening. Trading under such conditions might seem ideal but is often very dangerous for the mere fact that the company offering such conditions does not cover the positions in the real market. In other words, when you are ready to withdraw your profit, there might not be any because all the profits you made were “virtual” and not real.

Trading is typically considered to be a risky investment, however, the more you understand and accept the behavior of the market, the easier it is to manage risk and use it to your benefit. After all, sucess is generally due to the trading method and self discipline.

Best Regards,
  • #139
  • Sep 29, 2010 1:31pm Sep 29, 2010 1:31pm
With the new U.S. CFTC rules fast approaching, will U.S. residents still be able to open a account with TDFX?
  • #140
  • Sep 29, 2010 9:44pm Sep 29, 2010 9:44pm
Today I was told yes when chatting with live chat...
However...I really don't think anyone knows what will happen.
0 traders viewing now