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[deanvr]

Hi I’m Dean from South Africa been trading for myself about a year on dummy and real account of $15000 which is a hell of a lot for me in South Africa. Anyway I just want to get a feel from the FX traders on a idea below.

If you are or have a interest in a brokerage and you are reading this wake up and smell the coffee. Listen to what Traders are saying and there concerns. All I read the whole day is how brokers screw the public, how greedy they are, how self centered and and and. I am sick of it.

COMPLETELY DECENTRALIZING FX
Isn't it time that the traders themselves collectively start a brokerage website and deposit there funds in to a pool account which each new member has a share in depending on the amount he deposit or holds at any one time.

Example: I go to www.nopipsfx.com register as a member pay a small annual fee to the people or company that will manage and administrate the website (appointed by the traders, like Filix who seems to have good intensions) the same way you pay a levy in a townhouse complex to maintain the complex. And the more members the less the levy should become (not a profit making scheme).
I then transfer my $10,000 to www.nopipsfx.com's account the computer calculate my share of the total funds (If total funds is $1,000,000.00 then my share of $10,000.00 will be 1%) which will obviously fluctuate on a second to second basis as new members join.
The operating platform should be one's own choice, if that is not feasible then something like Meta Trader 4 (there could be better don't know, but like it the best of the few I tried) that is almost open source where anyone can create there own auto trading programs or indicators or anything like that. And have "NO FUNNY CODING" that could benefit third parties (Should be audited by reputable c.o).

How trading could work
First of all it match offers internally for example Trader 1 offer’s 1 lot of GDP/USD at 1.9963 and Trader 2 wants 1 lot at that price the system will link the two traders (registered members) automatically without any spreads going to any third parties. If there are no internal liquidity left it automatically source externally from the bank pools to fill the orders. It should be linked directly to the pool of buyers and sellers in the market (maybe like Napster type system in the music world) with a one click option to buy or sell no trading desk (scams). If you then do not get a fill you are the only one to be blamed (you buy to low or sell to high).
With a server that has battery backup if there is a problem it automatically switch over to server 2 or 3... and even with a backup internet link if ISP 1 fails ISP 2 kicks in immediately.

Maybe even start a new idea forum in www.nopipsfx.com where the Traders can streamline all the processes on how to make it cheaper better faster... (for the benefit of them Traders).

Also it should not be able to enroll more members than that server can handle if every member is online 24/7. New members can only enroll when the capacity has been increased and up and running.

And most of all there should be no charges nothing no spread no brokerage fees nothing just the ever decreasing annual levy as new members join.

Maybe I am naive or maybe I don't know enough about the red tape and legal issues regarding the FX brokerage, bank networks, reserve banks & fed's world to make such a concept feasible but it will be a dream come true to be able to see the fat cats having to join www.nopipsfx.com to make a honest living buying and selling for themselves for a change.


Dean.