Utopian Brokerage - improving the FX deal | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Looking for a good trading brokerage company 3 replies

Brokerage debate 12 replies

So hard to keep track of trades! Is it my brokerage 4 replies

Need a brokerage with demo and web based realtime charts 8 replies

fx brokerage 0 replies

Utopian Brokerage - improving the FX deal

  • #21
  • May 5, 2014 1:25am May 5, 2014 1:25am
Quoting Mevo
{quote} Hi MacD, I just checked IC Markets and they seem pretty great on all points. The reviews on FPA are good too. I will probably open an account with them soon... The well known rebate website I use (we probably use the same) offers $1.50 rebate on their $7 fee, so it's like you say... On starting our own broker, yes, why not. There are nice crowdfunding websites, where we could put such a project for funding and being all shareholders of the company and splitting profits beetween us. It would be a nice rebate method, we could do what we want...
be careful with IC Markets guys - I had a brief interaction with them some months back - saw what I liked on their web site and thought i'll open an account - went through the process of id'ying myself, etc - then I got an email asking me to deposit funds before they would give me access (password) which seemed downright fishy - imagine a bank asking you to deposit funds without you having an account first! anyway i had a chat with this guy called Jack or John or something, and he said that that was the only way to get an account open. i have a few fx accounts with various brokers, and ic markets is the only one wanting its clients to deposit funds before providing an account...maybe they have come to their senses now...
  • #22
  • May 5, 2014 2:51am May 5, 2014 2:51am
Quoting msood
{quote} be careful with IC Markets guys - I had a brief interaction with them some months back - saw what I liked on their web site and thought i'll open an account - went through the process of id'ying myself, etc - then I got an email asking me to deposit funds before they would give me access (password) which seemed downright fishy - imagine a bank asking you to deposit funds without you having an account first! anyway i had a chat with this guy called Jack or John or something, and he said that that was the only way to get an account open. i...
update to my last post...a friend of mine has informed that ic markets don't have this stupid practice any longer - i will try and verify this then update here...

as regarding starting a brokerage to benefit members, i think thats an excellent idea. i am in sydney and happy to make efforts to get this going - give the rust bucket shops a run for their money :-) anyone interested in persuing this please pm me
  • #23
  • May 6, 2014 1:13am May 6, 2014 1:13am
Quoting Mandarina
Maybe commissions for affiliates or IB should not be offered... I'm not sure. We should be chosen by new traders because they heard good comments about us rather than finding links in scam reviews websites. What do you think?
I agree. Ive never understood IB discounts. There is no reason for the middle man, The broker should have just offered the best rate possible direct to clients.
BTC Return This Year: na
  • #24
  • Jul 1, 2014 6:42am Jul 1, 2014 6:42am
Hello there, what do you mean by number 25. Zulutrade and Myfxbook available?
are you talking about the services they provide or the collaborating brokers?
  • #25
  • Dec 2, 2014 4:34pm Dec 2, 2014 4:34pm
Quoting domingo
Hello there, what do you mean by number 25. Zulutrade and Myfxbook available? are you talking about the services they provide or the collaborating brokers?
Hello Domingo,

both are offering copytrading. In websites like that people can browse account managers and their performance so they can subscribe to their trades and make the same trades automatically on their own broker account according to the same equity percentage.

Those services use to be free to the customer and the business model is to get IB spread commissions for every trade copied.
  • #26
  • Dec 3, 2014 9:38am Dec 3, 2014 9:38am
Hi mates,
I have been taking a further look about a brokerage like that and it seems there could be a way to run it being profitable.
I will keep you updated if there are news about that.

Best Regards.
  • #27
  • Last Post: Dec 3, 2014 9:49am Dec 3, 2014 9:49am


Quoting Mevo
This kind of discussions goes on and on on every forums, with this same 95/5 ratio, but that's another story (there are plenty of threads about that) So, to make it short, except for the free VPS, which you can pay, LMAX does approx. all your points. When I read this kind of thing, I remember something someone wrote here on FF, that he always read something like: "If only they had a good broker, they would make millions"
0 traders viewing now