has anyone had a negative (or positive) experience with Fimat? What size of account are they looking for?
any idea which broker can provide this kind of arrangement? http://www.dealhub.com/content/dh/solutions/default.asp this looks more scalable, like a true trillion dollar market.
Oanda is fine for any account size as long as the max $10M single trade size limitation does not come into your way. Don't be fooled to think that Oanda wouldn't be the place for bigger traders simply because their flex trade size also caters to the small traders. It works both ways very well.
is one million considered a big account in currencies/ Not... if you want to be there with the big boys....well try 10 million or 100 million...then your entry level material...at small blocks of 50 lots..
$5mil is the usual iqs on the interbank i believe. 10 years ago it used to be $10-20mil. this is because of increased concerns for shareholders and investors - ie risk exposure. this is a bit odd seeing as risk measurement has improved dramatically over the last 10 years - but thats the compliance department for you. FACT: globex has the THIRD LARGEST DAILY TURNOVER OF ANY FOREX PLATFORM AT ~$50 BILLION. EBS has $125 billion reuters has $60 billion. (these figures are 2 years old - but i dont believe the proportions will have changed) so why would anyone want to go down this route even if you do have a million dollar account?? in fact, if anyone did want to trade a million dollar account, i would assume they are not that dumb (unless it came from inheritance) - in which case why would they want to go down the otc road over a regulated market. surely they would know this? there is a good reason why the otc market exists, but servicing retail blow hards is not it. another et blow hard bites the dust.....
Ask Oanda 2 questions: 1. What happens when your trading systems/servers go down (And yes all of you out there on Oanda's Kool Aid - they do go down though Oanda seems to like denying it)? 2. How will my large orders (6-7 figures for a private trader) be prioritized behind those trading $1 USD notional. Yes that is ONE USD NOTIONAL order size minimum with Oanda?