IBFX Australia partners w/ Got Money FX | Forex Factory

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IBFX Australia partners w/ Got Money FX

  • #1
  • First Post: Aug 7, 2011 7:38pm Aug 7, 2011 7:38pm
yes, this is old news from last fall, but can anyone verify that it has been as awesome as they made it sound in their press release?

"Got Money FX is not a market maker and therefore does not trade against its clients, does not profit when its clients lose and does not hunt stop losses."

offering:

  1. Multi-bank liquidity
  2. No re-quotes
  3. Full hedging
  4. The use of all expert advisors
  5. Up to 400:1 leverage
  6. The ability to trade using either an AUD or USD account

makes you wonder why one broker has to join up with another just to offer these things! I don't get it.

But anyway, since it's been 10 months since this announcement, is it really true there are no re-quotes anymore? and no market making?

http://www.prnewswire.com/news-relea...105912903.html

  • #2
  • Aug 8, 2011 7:29am Aug 8, 2011 7:29am
Quoting sleepypipCDN
makes you wonder why one broker has to join up with another just to offer these things! I don't get it.

Liquidity... the more winners their are the less money the brokers make. They have to reduce their risk if they don't they go bye-bye.

I believe this is why numerous foreign based brokers have had to turn away US residents because they partner with a bank, broker or other entity from the US for liquidity.

Cash is king right now and has been for a long time... just look around to Greece, the US near default and downgrade to AA credit rating. It's all about the cash.

If you got some... good, better hang onto it. If you don't got any.... to bad for you, you better try to get some and quick. If you get locked out of the party contact Lehman Bros. @1-800-BLOWN UP
  • #3
  • Aug 15, 2011 12:39am Aug 15, 2011 12:39am
yes its true, got money fx is not a market maker and has no requotes...
  • #4
  • Aug 15, 2011 6:39am Aug 15, 2011 6:39am
Hello everyone...... I am newbie and i want to enter in the trading world.. I am using DEMO accounts of different brokers from 2 months... But now i want to go for a real account.... But I am confused with which broker should i choose.... I liked three brokers from all of them... Now i want you to suggest me among these three brokers because may be some of you are already trading with them... Thanks........

1. Alpari UK
2. IBFX AUSTRALIA
3. WINDSOR BROKERS
  • #5
  • Aug 15, 2011 6:50am Aug 15, 2011 6:50am
Quoting pip_seeker
Liquidity... the more winners their are the less money the brokers make.
Why is this true for NDDs?
  • #6
  • Aug 15, 2011 12:34pm Aug 15, 2011 12:34pm
Quoting praky
yes its true, got money fx is not a market maker and has no requotes...
good to hear. I hope this is from your own personal experience.
  • #7
  • Aug 15, 2011 12:41pm Aug 15, 2011 12:41pm
Quoting grimReaper
Why is this true for NDDs?
Exactly! The only thing an NDD should want is lots of trade traffic, whether the clients are winning or losing it, preferably profiting clients, because they will continue to trade. If they "only make money on the spread", that would be true.

Joining up with another smaller broker I've never heard of, just to offer all those great things they mentioned, like no-requotes, no stop hunting, to me is a blatant admission of doing underhanded schemes beforehand. Every broker is already bragging all day long about their "liquidity". They could've spun the news release that way then, that they need more liquidity because they just have SO many customers needing it.
  • #8
  • Aug 15, 2011 12:46pm Aug 15, 2011 12:46pm
Quoting pip_seeker
Liquidity... the more winners their are the less money the brokers make. They have to reduce their risk if they don't they go bye-bye.
if 95% really are losing at forex, where is the risk for MM? Even though, how will more liquidity solve this "problem" of too many winners? If it was all about liquidity, they could've just come out and said it.
  • #9
  • Aug 16, 2011 6:37am Aug 16, 2011 6:37am
Quoting sleepypipCDN
if 95% really are losing at forex, where is the risk for MM? Even though, how will more liquidity solve this "problem" of too many winners? If it was all about liquidity, they could've just come out and said it.

first 95% is probably an illicit number but it might be final desitination because we don't know if the 30% that win at the game are the same ones month in and month out. (30% is a rough average of reported profitable FX accounts by USA brokers.)

As those players get bigger... if they do get bigger their winnings increase exponentially as long as they don't become apart of the 95% or whatever number that is.

If all of these traders trade with broker "A" then broker "A" has a big problem. They can't take the opposite side of the trade for fear of being wiped out by all these "good" traders.

Liquidity helps because this broker may partner with LP1, LP2, LP3 and so on. Each one of these LP's absorbs some of the risk so the broker doesn't go broke. (The losses are passed onto the LP.)

So answer to your question: The LP's or additional liquidity will help solve the problem of too many winners. The other way is to come up with new rules and turn the winners away / make them go elsewhere. But this doesn't really rectify the problem necessarily because the FX market is global and the world is only so big and there are only so many LP's, Banks etc to take the other side of the trade.
  • #10
  • Aug 17, 2011 12:29am Aug 17, 2011 12:29am
Quoting Sheraz Akram
Hello everyone...... I am newbie and i want to enter in the trading world.. I am using DEMO accounts of different brokers from 2 months... But now i want to go for a real account.... But I am confused with which broker should i choose.... I liked three brokers from all of them... Now i want you to suggest me among these three brokers because may be some of you are already trading with them... Thanks........

1. Alpari UK
2. IBFX AUSTRALIA
3. WINDSOR BROKERS

If you go with IBFX Australia I would go via Got Money FX who are a WL of IBFX Australia, but have reduced the spread by 1/2 pip.
  • #11
  • Aug 17, 2011 3:41am Aug 17, 2011 3:41am
Thanks for replying.......... But i shall go for WINDSOR BROKERS... Because i want to start trading only with 400 to 500$.. Alpari UK do offer 1:500 leverage on FX but leverage for GOLD and SILVER is maximum 1:50 which is not good for me....... IBFX has very slow customer service and also they are not FSA regulated.... BUT Windsor Brokers; they have everything balanced, good customer service, good leverage offered, etc.... I am using DEMO account of them from 2 months, no problem at all............. So, i chose to go for Windsor Brokers..............


Quoting praky
If you go with IBFX Australia I would go via Got Money FX who are a WL of IBFX Australia, but have reduced the spread by 1/2 pip.
  • #12
  • Aug 22, 2011 5:06am Aug 22, 2011 5:06am
good luck and happy trading!
  • #13
  • Aug 22, 2011 8:13am Aug 22, 2011 8:13am
Thank You, Praky
Quoting praky
good luck and happy trading!
  • #14
  • Last Post: Jul 24, 2012 8:50am Jul 24, 2012 8:50am
Thanks for replying.......... But i shall go for WINDSOR BROKERS... Because i want to start trading only with 400 to 500$.. [quote=Sheraz Akram

wassup Sheraz..so how is the live trading with windsor??i have been demo trading with them for a while and am thinking of going live with about 400$?
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