Investment in the foreign exchange market, the main sub-sector foreign exchange and retail foreign exchange.
For foreign exchange agency, you can enjoy bank credit transactions. For U.S. banks, the amount of $ 5,000,000 have SIPC insurance. Then a large amount, you can also buy commercial insurance.
Trading platform, is a lot of options, for example: EBS, Reuters, Currenex, Lava, etc.
The following key is that the retail foreign exchange:
For the retail foreign exchange. Retail traders are divided into two categories, a market maker MM (Market Maker), the other is the broker ECN (Electronic Communications Network).
MM point difference by charging too large, and the company's customers within the gambling profits. The ECN trading commissions charged by the match trading profit. Thus, MM systemic risk and transaction costs are higher than the ECN, ECN is the future direction of foreign exchange industry.
Before the introduction of isolation in the absence of accounts, the security of customer funds is hidden in theory, but in fact stable development of good reputation, management and rational traders are still many such traders risk of bankruptcy, was absolutely in heaven than to go out hit a low probability of flying objects. And, by considering the company background, to regulate the system and the bankruptcy system to resolve insurance claims.
(At present, many of the so-called bad IB Huyou U.S. and British traders bankruptcy insurance system, only on the regulated futures and securities traders apply floor trading, foreign exchange spot transactions are off, is not included!)
First, more than $ 250,000 of funds:
More than 250,000, money exchange rate, the top foreign exchange through bank accounts. Part of a large bank account of the higher threshold (such as Barclays Capital only accepts agency accounts; Deutsche Bank does not accept the Chinese mainland citizens live account), you can use the following solution:
1, to open an offshore company;
2, to open a large bank of Prime Account, to help banks deal with;
3, in Hong Kong, a valid proof of address;
4, as long as you trading volume is large enough, such as the 500M or more, to talk directly to them.
Second, capital $ 250,000:
1, Dukascopy
Dukascopy Swiss bank this year just to get a license, see: access to bank qualified Swiss foreign exchange dealers. (Of course, this is the investment bank, no savings account permissions, and therefore Dukacopy account the existence of Swiss bank funds.) Swiss banking regulation is the world's leading, the 2008 financial crisis, is making great efforts to strengthen the foreign exchange spot market supervision. And, per person per account up to 10 million francs to enjoy deposit insurance compensation system. If the investment funds more than $ 250,000, funds can be hosted on the Swiss bank (Merrill Lynch, EFG, Barclays and other requirements are higher, to be 50 million or more and 75 million or more), then through a bank credit transactions.
Trading platform:
SWFX - Swiss foreign exchange market forex pros platform to support free access to the API Automated Trading
Transaction costs:
See screenshots Dukascopy spread (spread in the small-scale fluctuations, such as the euro is 0.5-1.5, for reference only)
Spread: Minimum to 0.5;
Commission: the amount of money exchange rate volume or grade received.
More than 50,000 funds, or monthly transaction> 50Mio, unilateral commission between the 5-18/Mio
5000-5 million in funding, or monthly trading volume between the 5M-50M, ranging from unilateral commission 25-38/Mio
5000 the following funds, unilateral commission 48/Mio
Mobility:
Integrate Currenex, Lava, HOTSPOT, several large mobility of the ECN platform, "known as" the $ 200 million blow to the transaction, the moisture, but the city's active time in Europe to achieve this level of liquidity, but for small funds, the transaction is completed price will not slip point.
Leverage ratio:
100:1 adjustable within
Before the minimum trading volume is 100,000 / single, and now for the low-end customers, the 1000 / Single
Account the threshold:
09 years is the minimum $ 50,000, the recently paying attention to small customers, the threshold is reduced to $ 1,000 from the.
Account will be trouble spots, you will need passport notarized after the mailing to Switzerland, but for once and for all to find a suitable platform for this trouble is worth it.
Regulatory authorities:
FINMA
Dukascopy for the professional from the amateur to the funds at all levels, from small to large foreign investors!
2, Interactive Brokers (IB)
Financial security:
IB is a listed company, worth more than a billion dollars, the boss is the richest American.
IB is a FCM (Futures Commision Merchant), are exchange-traded futures. Current U.S. law, OTC OTC spot foreign exchange, customer funds and traders are not separated, if traders bankruptcy, natural capital is not protected; and exchange-traded funds customer accounts and dealers are separate, even if Traders bankruptcy case, the customer will not have any impact on funding. In addition, the customer's securities account at IB are insured up to $ 30 million (including $ 1 million in cash). Therefore, IB's capital is safe.
TWS - win through their own platform. API automatically charge a transaction fee by pen
Transaction costs:
Spread: Minimum to 0.5;
Commission: unilateral commission in 10-20/Mio, minimum of 2.5 U.S. dollars / pen.
Transaction costs, more favorable for large funds, and small funds is inappropriate.
Mobility:
Good liquidity, Mio-level list, transaction will not have any problems. For small funds, should be sufficient.
Leverage ratio:
40:1
Minimum volume 25,000 / single
Account the threshold:
$ 10,000, the proposal not less than 30,000, or a lot of negative factors!
Regulatory authorities:
CFTC, NFA
IB also have the best futures, foreign stocks and foreign exchange investment needs in diverse, high-end customers!
3, London Capital Group (LCG)
Financial security:
LCG is the FSA would deposit insurance, but only for UK retail customers. Said to apply for £ 50,000 the amount of insurance, each transaction subject to 3/Mio commission.
LCG also support bank guarantees, conditions: 50 million USD since, AA + or more banks.
LCG is a very professional London financial listed companies, management is very professional.
Trading platform:
Several of the largest global trading platform for nearly all the Qi: Currenex, UBS, Hotspot FXi, Integral, lava, FXall
Several of the largest global trading platform for nearly all the Qi: Currenex, UBS, Hotspot FXi, Integral, lava, FXall
If you want to use their API, 3000USD / month If you use the GUI, 500USD / month.
Transaction costs:
Spread: See Spread shots LCG
Commission: unilateral 15/Mio (monthly trading volume 50M-100M)
Commission: unilateral 15/Mio (monthly trading volume 50M-100M)
Capital threshold:
EBS platform: Deposit threshold of 10 million. Single minimum volume of 1M.
Other platforms into the gold threshold are 25000.
Leverage ratio:
50:1 the following adjustable
100,000 minimum trading volume / single
Regulatory authorities:
FSA
LCG targeted at institutions and high-end customers, it is suitable for exchange of professional players!
4, Oanda
My first foreign exchange transaction, is in this account, when no ECN, can be said that the time to choose the best platform.
Financial security:
Oanda Although there is no bankruptcy protection, but the company's operations and development are very sound, entirely on the credibility of supporting outstanding dealers.
Oanda publicly acknowledged case of bankruptcy, the customer will get the funds do not come back, other than this vague MM traders would be much better.
Oanda is the only one not IB (agent) system of foreign exchange market maker, but the business has developed rapidly, is very popular in North America
Oanda net assets of the CFTC's monthly report, the first long-ranking foreign exchange dealers.
Foreign trade magazine "Euromoney" selection of the best foreign exchange dealers, Oanda fourth, and three are Deutsche Bank, UBS, Barclays 3 giants.
Trading platform:
Self-developed JAVA based FXTrade, this platform is now the Dutch Bank (has been merged with the Royal Bank of Scotland) retail foreign exchange platform.
If you want to use the API, fees 600USD / month
Transaction costs:
See screenshot OANDA Spreads
(Spread out the data in the short term there will be expansion, generally when the euro 10, pounds 15 points, but this is very reasonable, then not for trading)
(Spread out the data in the short term there will be expansion, generally when the euro 10, pounds 15 points, but this is very reasonable, then not for trading)
0.9 from Europe, no additional commission. MM is the lowest cost transaction platform
Capital threshold:
1USD
Leverage ratio:
50:1 the following adjustable
Minimum volume: any number
Regulatory authorities:
NFA, CFTC
Dukascopy does not lower the threshold before, Oanda is undoubtedly a small capital and choice for learners new entry! Currently, the two platforms are very good decision on a matter of personal preference!
