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6-figure capital: Any suggestions on broker?

  • #1
  • First Post: Jun 5, 2012 5:09am Jun 5, 2012 5:09am
Hi

I have to open a 6 figure account for a client.

Its a bit tricky because the initial deposit will be mid 5 figure(about 40-60K).

I am looking for suggestions for an ECN/STP broker, main requirements:

1- No requotes
2- No freeze during news.
3- Low commission and lot size.
4- Reliable
5- Based in US would be a plus.


I plan to move existing clients onto the same platform after some time so PAMM would be advantageous.

Hoping for some good suggestions.

Regards
  • #2
  • Jun 5, 2012 5:39am Jun 5, 2012 5:39am
hotspot
divisa
marex
IB
citifx
dukascopy
  • #3
  • Jun 5, 2012 10:41am Jun 5, 2012 10:41am
If you're looking to open an account with $100k+ I would consider opening with one of the bigger guys - depends on whether you need MT4 or would be willing to use a proprietary platform.

FC Stone offers FX accounts WITH MT4 for deposits +$100k. There's a couple of IBs who can get you in there. Good pricing, low (negotiable) commissions.(http://www.intlfcstone.com/futures/f...ges/Forex.aspx)

Citi isn't that bad - although their spreads aren't all that competitive and the BT bridge for MT4 is... well, the BT bridge.

Penson Futures (recently acquired by Knight) has a fairly decent MT4 for institutional traders as well. (http://www.pensonghco.com/fx_platforms.aspx)

Though I haven't had any experience with the platform or service - Morgan Stanley has their "Matrix Platform" which has gotten some good reviews for both spot FX and forwards (http://www.morganstanley.com/matrixinfo/)

PFG Best has an okay ECN MT4 platform as well - though their customer service is the absolute worst.
  • #4
  • Jun 5, 2012 12:30pm Jun 5, 2012 12:30pm
Quoting Forex2k10
If you're looking to open an account with $100k+ I would consider opening with one of the bigger guys - depends on whether you need MT4 or would be willing to use a proprietary platform.

FC Stone offers FX accounts WITH MT4 for deposits +$100k. There's a couple of IBs who can get you in there. Good pricing, low (negotiable) commissions.(http://www.intlfcstone.com/futures/f...ges/Forex.aspx)

Citi isn't that bad - although their spreads aren't all that competitive and the BT bridge for MT4 is... well, the BT bridge.

Penson...
The problem is that the initial deposit will be about 50-60K. The rest will be added after 2 months. So any broker with a minimum deposit of 100K will not be possible to begin with.

Thinking about Dukas but cant make up my mind. Will look at others mentioned by you.

Thanks
  • #5
  • Jun 5, 2012 2:19pm Jun 5, 2012 2:19pm
Try Fxall or Baxter.
Fear prevent possibilities, and so does Greed
  • #6
  • Jun 5, 2012 4:09pm Jun 5, 2012 4:09pm
Quoting Forex2k10
If you're looking to open an account with $100k+ I would consider opening with one of the bigger guys - depends on whether you need MT4 or would be willing to use a proprietary platform.

FC Stone offers FX accounts WITH MT4 for deposits +$100k. There's a couple of IBs who can get you in there. Good pricing, low (negotiable) commissions.(http://www.intlfcstone.com/futures/f...ges/Forex.aspx)

Citi isn't that bad - although their spreads aren't all that competitive and the BT bridge for MT4 is... well, the BT bridge.

Penson...
i will go with either citifx or pfgbest without the customer service.
  • #7
  • Jun 6, 2012 5:13am Jun 6, 2012 5:13am
CFH
LCG
FCStone
Rabobank
vcapfx

basically any prime broker and not the usual ENC retail
  • #8
  • Jun 6, 2012 8:00am Jun 6, 2012 8:00am
Quoting Rikers
CFH
LCG
FCStone
Rabobank
vcapfx

basically any prime broker and not the usual ENC retail
Yes, Rikers is absolutely right. You have to choose only one of the PB above if you want to stay away from most problems other brokers have. In addition, I would also mention ATC Brokers which is an excellent broker (though they aren't an PB).

Regards,
MrJinks.
  • #9
  • Jun 6, 2012 10:24pm Jun 6, 2012 10:24pm
LCG
Dukas
FCStone
CitiFX

Few others would fit unless you start looking at prime brokers.
  • #10
  • Jun 6, 2012 10:29pm Jun 6, 2012 10:29pm
passing thought:

do you think the clients of this fund manager would be comfortable knowing he has to ask this kinda question on a forum instead of already having the industry experience to know?

not attacking OP, this just stuck out in my mind.
  • #11
  • Jun 7, 2012 3:38am Jun 7, 2012 3:38am
Quoting MartyS
passing thought:

do you think the clients of this fund manager would be comfortable knowing he has to ask this kinda question on a forum instead of already having the industry experience to know?

not attacking OP, this just stuck out in my mind.
true, if this guy been in this business and made that kind of money he would already know the answer to his question, sound like most rookies dreaming of some day il get there
  • #12
  • Jun 7, 2012 8:51am Jun 7, 2012 8:51am
Quoting pemully
fastbrokers ib for lmax in USA
Gotta read the fine print...


† Some products may not available in all countries. LMAX products not available in the United States of America.
  • #13
  • Jun 7, 2012 9:15am Jun 7, 2012 9:15am
This is my personal preference as retail trader.

If you don't mind about FIFO, GFT UK. If you dislike FIFO, then FXCM UK (active trader account). If you don't mind about leverage, then OANDA UK! I have positive experience with them, as long you are not over trade your positions.

cheers
  • #14
  • Jun 7, 2012 11:14am Jun 7, 2012 11:14am
Quoting BroncoCap
Gotta read the fine print...


† Some products may not available in all countries. LMAX products not available in the United States of America.
very interesting....seems the us is going communist
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #15
  • Jun 7, 2012 4:15pm Jun 7, 2012 4:15pm
Quoting pemully
very interesting....seems the us is going communist
More like "Nanny State"...no more thinking allowed, no more personal risk, get a blue ribbon just for showing up...pathetic
  • #16
  • Jun 7, 2012 9:32pm Jun 7, 2012 9:32pm
i find the regulation in the US to be quite tame. the real problem is lack of choice

it seems like all the surviving brokers out of the US have been sheltered from lowering their spreads now that they don't have to compete with the rest of the world.

using fxintel, it appears like the average spread is 0.5 to 1 pip higher than the cheapest overseas brokers.

i care about that more than leverage or FIFO.
  • #17
  • Jun 9, 2012 6:12am Jun 9, 2012 6:12am
Quoting MartyS
passing thought:

do you think the clients of this fund manager would be comfortable knowing he has to ask this kinda question on a forum instead of already having the industry experience to know?

not attacking OP, this just stuck out in my mind.
Quoting PoundTrader
true, if this guy been in this business and made that kind of money he would already know the answer to his question, sound like most rookies dreaming of some day il get there

Haha..thanks for calling me a Rookie.

Next would be "show a screenshot".

I have traded with a number of brokers over the years. A discussion does not imply that I don't know about brokers just goes to show I am always open to exploring new options. It is possible to miss something.

Forgot this is FF.

Thanks to everyone who has given suggestions I will be taking a look and using a demo with some before a final decision or recommendation to client/s. I maintain a list of approved/tested brokers for clients.

Cheers to the "veterans".

Regards to everyone else.
  • #18
  • Jun 9, 2012 8:04am Jun 9, 2012 8:04am
Neo, people here love calling rookie to anyone who's after some decent broker (not the regular shops) and tries to get info regarding the matter Back to your question, I've contacted LCG a couple of month ago and they're happy to deal with you from 20K. They provide you with access to every major liquidity aggregator and in addition they let you trade qith MT4 if you insist Didn't open an account with them though cause I was looking for some decent ECN which enables me to trade mini lots. They prefer standard ones.
  • #19
  • Jun 9, 2012 10:12am Jun 9, 2012 10:12am
Quoting neo1599
Haha..thanks for calling me a Rookie.
...
Your welcome.

Post a screenshot.



(thanks for taking offence to something that wasn't a dig at you... being sensitive about it kinda makes me think something's amiss.)
  • #20
  • Jun 9, 2012 12:27pm Jun 9, 2012 12:27pm
trust when i say this, anybody with 100k would not need any one suggesting on finding a broker for 100k+ account on this forum, they will be doing there on DD by contacing brokers to get the answer they need, they wound't need FF. this guy is just fishing.
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