dbFX (Deutsche Bank)

What percentage of DBFX transactions were from retail traders. DBFX must be having $700 billion transactions per day.

Semi-informed guess is that DBFX counted for about few percents of Deutsche Bank FX flows.
DBFX meant nothing for Deutsche Bank and IT WAS retail traders platform, NOT INSTITUTIONAL by any means.

Straight to the point.
Being in the middle is the worst scenario, as stake is already not tiny and requirements are realistically bigger.
I hardly see long-term survival of small FX trader given criminals behind retail FX business. Sporadic gains are possible even with blind eyes and pure guess, but statistic will came into picture with higher numer of transactions (and it might be very high sometimes).
Going to institutional level is must from the point of saving deposits from being stolen via bankruptcy of broker (what is more likelly scenarion than with good bank, but there are no 100% guarantee anywhere). All brokers try to convince traders that they are as secure as banks what is total and utter BS. After such words, the best one can do is to forget such broker.
Also, aggregate commission are much smaller when trader enters into right volume shape.
Finally, execution with right sized lots are better, faster and allow further gains.
Retail FX is more like casino with one-way road for majority of participants.

Did anyone have success in contacting Barclay's institutional clients FX department (not retail)?
In communication they behave in very arrogant British way, what might mean that business is just fine.

Nice observation.
In relation to DBFX I already wrote my opinion:

Actually, I expected for something like that to happen and kudos to Deutsche Bank.
It is big, credible bank and DBFX was twilight zone.
Marriage of liquidity and FXCM scammers to elude uninitiated that they are part of big game.
Thanks to God, that Germans still try to protect their face.
I have opened and closed my DBFX account as soon as I learned how it works in reality.
Forex community didn't lose anything essentially and Deutsche Bank added to their image as serious institution.
FXCM is big fake game and hopefully this will just weaken them further to lose their position in FX.

Dukascopy tried to play several size bigger game than they really are and that is what put me off from them in general.
One can't be sure what are real targets of guys behind such tricky businessed.
Just imagine that bunch of smart Russians got initial capital to build the platform in Switzerland. Do we know who is behind the money and what was/is objective of that venture? Hardly.
Also, it is important to know that inflows of cash to retail FX from emerging countries like India, China, Russia, Ukraine, Indonesia etc. is much higher than from developed countries (where people in general is less naive).
If clever criminal understands that (and usually does) his objectives can easily shift from honest money making toward money grabbing.
I was amazed to learn that many brokers in NY, Cyprus and to less extent in London direct their activities toward markets that are far from developed world and firm rules.
Dukascopy has such aura and it looks attractive to particular type of clients.
What I've learned that they work hard to attract clients that are not too small (so such 'serious' check in approach) and that might bring more cash in the future (generally right idea).
Saxo maight have better backgfround, but I feel business model is typical retail bucket shop in all aspects.

So, what to do small guy.
Up to 1 M all traders are considered small by any standards, so divide it to several broker's accounts and play on serious retail markets, but never, ever go with too big leverage (1:30 is max. I would suggest). There is no big difference between brokers, if they are more-less credible like PFG, IB, FXall, Currenex and likes.
Avoid apparent bucketshops that are well covered in this forum.
Over 1 M, at least ask for full aggregation of your funds from the platform (Dukascopy provides that, so not bad here).
Over 3-5M it is serious game and anyone with such kind of cash should invest very serious time in learning FX and finding right solution (at least one year).

Finally, whoever tells you that Forex is profitable and simple way to make lot of money, specially following some expert's advices or robotized algorithms is liar of the highest degree.
It is serious activity with very serious consequences (both positive and negative) if some serious money is involved. Remember that trader swims in pool full of sharks.
The biggest trap that will kill ANY trader (even one who was successful during very long period of time) is lack of deposit in periods of big drawdawns. Even SL is not 100% guarantee in imaginable scenarios and sharp 3% reversals are not so rare.
SL might remain non executed in some cases and platform can become out of function for a while.
Keep it in mind before continuing to believe in easy money, even with bigger deposit.

From forexmagnates:

CitiFX Pro to continue its expansion amid dbFX’s withdrawal from the US market

Citi, who after dbFX’s exit is going to be the only bank in the US offering retail forex trading, is announcing additional expansion plans both geographically and technically. Citi plans to expands to other locations while also improve its technical offering – it will soon launch a new FIX-API solution which should be attractive to its target audience – small-mid size traders and funds. Citi, being the only retail fx bank in the US, is now actually enjoying a regulatory back-wind and can and should use the latest reforms to cement its position in the US forex market. Citi is already offering seminars to fund and money managers and new tight pricing to its individual clients will surely further capitalize on the gap that presented itself in the US forex market.

The new API features are:

1. Multi-contributor sourced liquidity, delivering highly competitive pricing with one counterparty
2. Auto rollover of Spot positions
3. 24-6 access to dependable, low-latency, high-performance connection
4. ESP, Market and Limit Orders supported
5. Trade on cash margin with CitiBank or give up to a Prime Broker
6. MT4 integration and compatibility
7. Swift on-boarding and approval procedure

Citi Continues to Expand CitiFX Pro
New York, April 26, 2011 – Amid changes in the marketplace, Citi (NYSE: C) continues to expand the services of CitiFX Pro, its margin foreign exchange trading platform for small- to mid-sized institutions and experienced individual traders, and reaffirms its commitment to the Margin FX market.

In 2011, CitiFX Pro plans to launch in other key European, Middle Eastern and Asian markets. In addition, CitiFX Pro plans to introduce a new FIX-API solution which will provide state-of-the art technology to sophisticated clients. This service will be available to clients in May 2011.
“We have been extremely pleased with the response to CitiFX Pro among small and mid-sized institutions as well as experienced individual traders,” said Sanjay Madgavkar, Global Head of Margin Foreign Exchange Trading at Citi. “In order to meet growing demand from this important segment of the margin FX market, we are increasing our investment in the product, particularly in relation to technology. We expect our new API solution will offer market-leading, low-latency liquidity to active FX traders.”

Since its launch in 2008 in the United States, CitiFX Pro has expanded to new markets including the United Kingdom, Switzerland, Singapore and other Asian markets and has become one of the leading platforms in targeted segments of the FX market.

CitiFX Pro offers highly competitive spreads starting from 1.2 pips in the EURUSD for individual clients and provides its users access to both CitiFX Strategy and Technical reports—both of which consistently rank at the top of the market polls. Its platform was named Best Retail Platform by Profit & Loss magazine for the past two years running. Citi will soon be the only major bank offering Margin FX in the United States.

“With CitiFX Pro, we believe we have the right platform to service this important client segment”, said Jeff Feig, Citi’s Global Head of G10 Foreign Exchange. “Our latest investment shows our commitment to this growing market and will ensure CitiFX Pro will offer its clients the highest standards of technology and liquidity.”

About CitiFX Pro
CitiFX Pro is Citi’s online forex trading platform for active individual and small institutional clients including commodity trading advisors, broker-dealers, money managers, and hedge funds. Additional information may be found at www.citifxpro.com.

About Citi
‬Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. ‬

mf global offers 1m protection which other banks dont. also, the platform is the same as dbfx

@yomoko: hello, please explain where you got the information about
1m fund protection. Thank you.

Best
Robert

Can't find it on their website. Where you get the info?

http://www.mfglobalfx.ca/fx_advantage.html

only if you open a canadian account though, becuz it's registered under CIPF, and it's CIPF protect your fund, not mf global