Forex brokers

Discussions about brokerage firms for futures, stocks and other tradeable instruments.
Post Reply
Robwynge
Senior Member
Senior Member
Posts: 42
Joined: Wed May 25, 2011 10:33 pm

Forex brokers

Post by Robwynge » Thu Feb 02, 2012 9:37 am

I don't trade forex much but recently put on a few trades and I noticed that the amount of positive carry that I was making on positive interest rate pairs seemed far less than the amount of negative interest I was losing when I had on negative interest rate pairs. After some digging, I discovered, sure enough, the dealing desk caps the amount of positive interest one can earn, but leaves uncapped the amount of negative interest one can lose.

I'll spare you my rant and simply ask those of you who trade forex who you use and whether they have more equitable interest rate policies?

Thank you!

LeviF
Roundtable Knight
Roundtable Knight
Posts: 1428
Joined: Mon Dec 22, 2003 12:24 pm
Location: Des Moines, IA
Contact:

Post by LeviF » Thu Feb 02, 2012 10:30 am

I've never heard of any reputable outfit doing that, who are you using?

Robwynge
Senior Member
Senior Member
Posts: 42
Joined: Wed May 25, 2011 10:33 pm

Post by Robwynge » Thu Feb 02, 2012 10:38 am

Thinkorswim/TDAmeritrade.

So who is "reputable"?

LeviF
Roundtable Knight
Roundtable Knight
Posts: 1428
Joined: Mon Dec 22, 2003 12:24 pm
Location: Des Moines, IA
Contact:

Post by LeviF » Thu Feb 02, 2012 10:51 am

I use and am happy with Oanda. May move to Interactive Brokers though at some point. Have also looked into CitiFx, they seemed ok too.

Robwynge
Senior Member
Senior Member
Posts: 42
Joined: Wed May 25, 2011 10:33 pm

Post by Robwynge » Thu Feb 02, 2012 11:08 am

Thank you!

If I may ask, if you are happy with Oanda, why are you considering those others? Diversifying brokers post MF Global?

LeviF
Roundtable Knight
Roundtable Knight
Posts: 1428
Joined: Mon Dec 22, 2003 12:24 pm
Location: Des Moines, IA
Contact:

Post by LeviF » Thu Feb 02, 2012 11:12 am

Oanda is good for retail users, the other two have better platforms for managers.

Post Reply