CitiFX or FinFX - Convince me
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Thread: CitiFX or FinFX - Convince me

  1. #1
    I am right now choosing between CitiFX or even FinFX. Can someone push me over the edge? Here are my requirements:

    Accepts US customer
    Hedging let
    No FIFO restrictions
    Min Lot = .1 or .01 is much better
    MT4 platform
    Acct may be denominated in multiple currencies (as long as I don't need to use the US dollar then I am happy) to be safe in the event of US dollar crisis

    Any help would be appreciated. Thanks.

  2. #2
    Quote Originally Posted by ;
    Forex is not regulated in Finland, so that they don't have to register. They couldn't if they wanted. This is from FIN-FSA:

    [I]Forex trading is a non-restricted small business activity, not needing...
    Wouldn't have believed that is possible in the EU. Customer capital w/o permit - thats.

  3. #3
    I don't think you can hedge with CitiFX. Not sure whether you've looked at MBTrading; although there is no hedging there also, they enable the equivalent of 0.01 lots in MT4, also there are other currency deposit denominations permitted.

  4. #4
    I have done a search at 100forexbrokers. It and com says that CitiFXPro can hedge. You might wanna zap them a email to confirm.

  5. #5
    CitiFX - deposits FDIC insured, company is highly controlled, very long firm history
    FinFX - deposits not insured, company isn't regulated, very brief business history

    That about sum it up?

    Edit - in case not. .

    CitiFX - a colossal global bank
    FinFX - 2-3 men in Finland with an Integral-MT4 bridge

  6. #6
    Quote Originally Posted by ;
    CitiFX - residue FDIC insured, firm is highly controlled, long company history
    FinFX - deposits not insured, firm is not regulated, quite brief firm history

    That about sum it up?

    Edit - if not. .

    CitiFX - a gigantic worldwide bank
    FinFX - 2-3 guys in Finland having an Integral-MT4 bridge
    massive worldwide bank is what scares me. And also the simple fact it is loed in the US (inflation and dollar concerns).

    But thank you for your reply. It will be considered by me.

  7. #7
    FDIC protected up to $250k, that should quell some concerns.

  8. #8
    If I'm right, brokers in the US don't let hedging at all. Secondly, Commodity Futures Trading Commission CFTC has made a proposition of limitating leverage of retail forex traders to 10:1. So in this fashion, FinFX looks better...

    But let's dig this deeper: CitiFX is regulated in the US and one of the most famous financial institutions in the world - it's not a bucket shop!

    Controversially, FinFX is not regulated in Any Way. The CEO of FinFX has claimed me that Intergral's True FX broker certifie acts as a relevant licence. Forex isn't regulated in my homeland Finland where FinFX is based in so they may have no other choice.

    As trader KGB stated, FinFX is a bucket shop, some guys (even with no economical/business instruction) only running the business.

  9. #9
    CitiFX and dbFX are Not regulated by the CFTC, they Are regulated by the SEC FINRA. They fall beyond their 50:1 leverage restriction. DbFX offers 100:1, and CitiFX may be negotiable (not certain).

    If you want high leverage, law, and non-US, your very best bet are the UK brokers.

  10. #10
    CitiFX's website does not provide much details on min lot size, hedging, FIFO or etc.. And I can't appear to discover a good place that covers this advice for CitiFX. Any good websites which provide this thorough information?? Thanks.

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