Fastbrokers FX now offers two options:
1. For deposits below $10 000, you'll trade MT4 with a market maker.
2. For deposits above $10 000, you'll trade MT4 with ECN style prices.
I'll update the MT4 page accordingly, thanks a lot for the note!
Would you please advice here? Why we do not have any financial data if the broker is registered???
Your answers will be greatly appreciated.
Infinit
BrokerGuru
July 12, 2009
Hi Infinit,
If you get no information about the broker on NFA website, it obviously means that the broker is not registered with NFA. FastrbrokersFX is an Introducing broker. If you request the information on them on NFA website you'll get the following:
FASTBROKERSFX.COM 0342002 • NFA MEMBER APPROVED • INTRODUCING BROKER REGISTERED
That's your answer.
Introducing brokers are not included in CFTC report.
Normally, in order to find out whether a broker is registered with any other regulatory bodies you have to directly ask the broker.
In order to find out whether you're dealing with an IB or an independent broker, you have to either again ask the broker, or check out their Client Agreement, where you would normally find the name of a Prime broker if any, or check the beneficiary info on broker's wire transfer payment, or read through the live account application form, which may contain the answer.
Hope this helps.
FS
July 31, 2009
Hello BrokerGuru,
I've been speaking to FastBrokersFX to open an ECN account. The offered me an account using CurreneX and I'm doing a demo on it. I found out that they are an IB for FXDD and my CurreneX account would be with them.
What do you think? Have you heard anything about them working together? And what about CurreneX? I am using it for a week and seems very good and professional.
Thanks
FS
BrokerGuru
July 31, 2009
Hi FS,
Currenex is an advanced, professional platform.
That's correct, FastbrokersFX is an IB for FXDD, which means you'll be trading on FXDD terms. Both companies are reputable (although FXDD application for NFA membership is still pending... just the right time for you as a good client to ask how soon it is going to happen...). I haven't heard details about the exact cooperation scheme they use, though.
FS
August 1, 2009
Hi Guru,
Thanks for your quick reply. I will post again once I have more details or experience with them.
FS
Mark
May 19, 2009Hey, Amazing website, such a serious amount of really decent information!
I just felt that I should say I noticed that FastBrokers is listed at http://www.100forexbrokers.com/mt4forexbrokers as a Market Maker
Best
Mark
BrokerGuru
May 19, 2009Thanks, Mark!
Fastbrokers FX now offers two options:
1. For deposits below $10 000, you'll trade MT4 with a market maker.
2. For deposits above $10 000, you'll trade MT4 with ECN style prices.
I'll update the MT4 page accordingly, thanks a lot for the note!
Infinit
July 12, 2009My question is about FastBrokers. They are registered on NFA website, but when I go to CFTC website to check their financial data it does not show their name there at all: http://www.cftc.gov/stellent/groups/public/@financialdataforfcms/documen....
Would you please advice here? Why we do not have any financial data if the broker is registered???
Your answers will be greatly appreciated.
Infinit
BrokerGuru
July 12, 2009Hi Infinit,
If you get no information about the broker on NFA website, it obviously means that the broker is not registered with NFA.
FastrbrokersFX is an Introducing broker. If you request the information on them on NFA website you'll get the following:
FASTBROKERSFX.COM 0342002 • NFA MEMBER APPROVED • INTRODUCING BROKER REGISTERED
That's your answer.
Introducing brokers are not included in CFTC report.
Normally, in order to find out whether a broker is registered with any other regulatory bodies you have to directly ask the broker.
In order to find out whether you're dealing with an IB or an independent broker, you have to either again ask the broker, or check out their Client Agreement, where you would normally find the name of a Prime broker if any, or check the beneficiary info on broker's wire transfer payment, or read through the live account application form, which may contain the answer.
Hope this helps.
FS
July 31, 2009Hello BrokerGuru,
I've been speaking to FastBrokersFX to open an ECN account. The offered me an account using CurreneX and I'm doing a demo on it. I found out that they are an IB for FXDD and my CurreneX account would be with them.
What do you think? Have you heard anything about them working together? And what about CurreneX? I am using it for a week and seems very good and professional.
Thanks
FS
BrokerGuru
July 31, 2009Hi FS,
Currenex is an advanced, professional platform.
That's correct, FastbrokersFX is an IB for FXDD, which means you'll be trading on FXDD terms. Both companies are reputable (although FXDD application for NFA membership is still pending... just the right time for you as a good client to ask how soon it is going to happen...). I haven't heard details about the exact cooperation scheme they use, though.
FS
August 1, 2009Hi Guru,
Thanks for your quick reply. I will post again once I have more details or experience with them.
FS
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