DBFXDeutsche Bank AG

Sam, FPA, 08/29/2009 ,

The comments below about DBFX being linked with FXCM is very true. Yes your funds are held by Deutsche Bank, but the software and price quotes are all provided by FXCM. The Detusche Bank representatives discourage you from calling into their desk to placing orders they want you to use their unstable electronic platform, and they are the counterparty to each trade meaning they Deutsche Bank or their "affiliates" FXCM are taking the other side of your trade every time. They give you no edge whatsoever such as guaranteed stops to prevent slippage. Save your money don't trade against these clowns you'll never win.

Professional, FPA, 08/29/2009 ,

DBFX IS FXCM. Located at 32 Old Slip,N.Y. DBFX has a "White Lable" with the FXCM platform run out of and on same floor with FXCM at FXCM offices using a "Chinese Wall" to separate the FXCM operation from the DBFX operation although
run by FXCM with, I'm sure, some DB employees. This is the old FXCM platform with the same Market Makers spiking your trades and taking your money.

Max, FPA, 08/29/2009 ,

I've decided to try their live trading. Have completed online application, sent all the required copies of my documents and was awaiting for their reply. It was written on their website that application review and account opening will take about 24 hours. As there was no news from them after these 24 hours, I've wrote an email to them, inquiring a status of my application. Next day dbfx representative (Brian Bauernschmitt) called me again as he had some questions regarding my liquid assets (have stated in my application my liquid assets are in range of $50.000 - $99.000). I've confirmed it once again to him. After that I've received an email from dbfx with refusal to open live account as, according to them, my liquid assets are not sufficient to trade with them. I've tried to find out what liquid assets do I need to have in order to trade with them live, as there is no such information regarding the requirements to the liquid assets on their website, however they refused to give me such information.

dbfx, thefxguide.com, 08/29/2009 ,

There is nothing better than having a forex broker with excellent backup bank such as Deutsche Bank! So if you ask me what is the reason you have an account with them my answer would simply be: my money is safer here than any other broker in the industry. And thats what counts, yes, probably dbfx does not have the best spreads but thats a trade off im willing to take againt the certainty of my funds.

Other than that, they have a nice platform, execution is good.

Pete, FPA, 08/29/2009 ,

I've tried them. I opened an account. My short term trades getting stopped out and I couldn't make a profit with them. There was one trade, the market went against me so I tried to close the position. I must have hit the close button 20 times before it actually closed for - 30 pip from my intended.

I saw that the demo platform looked similiar to FXCM so I asked them directly if they have any relationship with FXCM and they said no.

I guess they are unfriendly towards short term day traders so be careful here.

Seekingalpha, 08/29/2009 ,

With $5,000 minimum deposit, maximum 100:1 leverage, lack of a Web-based platform, and most importantly, the inability to pay using Paypal or credit card, DBFX is a broker for only a very specific and exclusive type of Forex trader.