Info on broker: BankDirectFX

[craneliu]

Marcus thanks for explanation. I did resolve this issue just few minutes ago when I compared other system best/worst trades dates with the past history and yes you are right, it is not the year, but number of day - fortunatelly

Ok so we now know BankDirectFX has been serving mostly hedge funds which would make this broker OK for me.

anyone can verify PremierFundFx ?

 

[EricBubb]

I have received the same spam email. I have gone as far as opening the account and downloading the LPOA. But that is where I stop now until a reference can be located as to their honesty. I have just had a bad experience with "Blue Water" hence not jumping into this one straight

 

[Pharaoh]

Ok so we now know BankDirectFX has been serving mostly hedge funds which would make this broker OK for me.

Do we know they've been serving hedge funds, or have we only been told they've been serving hedge funds? Are there established hedge fund sites out there that say they've been using BankDirectFx?

 

[elisab]

I have received the same spam email. I have gone as far as opening the account and downloading the LPOA. But that is where I stop now until a reference can be located as to their honesty. I have just had a bad experience with "Blue Water" hence not jumping into this one straight

I have an account there – so far so good.
Yeah, I’ve seen them on a few actually.
It’s no wonder why, they have some of the best spreads I’ve ever seen. The execution is actually really great too so far.

 

[efa-FX]

Hi RussG - Before to wire funds you'd consider to ask the following questions:
1. is BANKDIRECTFX regulated by the Swiss Financial Market Supervisory Authority (FINMA) and/or
2. is BANKDIRECTFX a signatory of the Swiss banks and securities dealers’ agreement regarding deposits protection (preferential deposits protected by the Depositor Protection Association esisuisse – protected by Swiss government in the amount of CHF 100’000.-) ? If not, are clients’ deposits with BANKDIRECTFX protected by EU regulation (FCC – Financial and Capital Market Commission) in the amount of EUR 20’000.- for each client ?

If all response are "NO"... you should know what to do.

Happy trading.

By the way RussG, I imagine you're interested in PRIMEFUNDFX service, don't you? As far as I know (information to be confirmed), their site is 3 ½ months old ! They may have change the site location...

But what would you do if your return was as high as advertised by PrimeFundFX? Would you seek for retail money, when large hedge funds would be happy to pay millions of dollar for the secret formula?

 

[elisab]

BANKDIRECTFX is Belgium co (broker) not Swiss..I don't think they even can be regulated in Switzerland. Your mistaking Primefund and Bankdirect..different things..Primefund is the Swiss co. your meaning.

 

[efa-FX]

Hi elisab - I'm not mistaken both names at all. I know that BANKDIRECTFX is licensed by the Belgian FSMA but the FSMA does not offer any protection in case of bankrupcy. I just want is to warn RussG. With regards to PRIMEFUNDFX... too beautiful to be real! Have a good sunny day.[/lang]

 

[Pharaoh]

Apologies for being completely off topic, but this comment was far too good to ignore:

Last edited by efa-FX; Today at 02:53 AM. Reason: I did not request a translation from bad english to an even worse one

LMFAO!!!!! I wish I could see what the automatic translation software came up with.

You may now return to the primary topic of this thread.

 

[wokad80]

im pretty sure primefundfx is the same with BDFX. I even only register to provide this info to you guys (and maybe to ask for clarification from BDFX itself). when I look at PrimeFundFx MyFXBook account (just like you guys, i also received their spam email), I felt like wow this is a very great trader. But obviously something smells fishy when I look at their broker which is virtually unknown and there's no info at all on the internet about BDFX.

I asked primefundfx about why BDFX and there are 2 paragraphs which are totally the same words by words. Look at post #3, BankDirectFx claims he's the director at BDFX. Here let me quote the last 3 paragraphs for you:

Further to nemo100’s important inquiries, BDFX is currently located in Brussels, Belgium, headquarters of the European Union. Currently, BDFX is in full compliance with all regulatory requirements in our country of domicile.
The financial regulator in Belgium is the FSMA. Currently, FSMA does not yet recognize spot foreign currency as a “financial instrument”, pursuant to local regulatory provisions. As such, and despite our desire, BDFX is not currently able to formally register.

This is very similar to another well-known and reputable brokerage firm, FinFX, who was unable to become recognized with Fin-FSA until March of this year. BDFX will continue to lobby toward this recognition as well as our ongoing exploration in undertaking additional strategically located geographic regions, such as Australia (ASIC) and the EU MiFID program.

now compare to PrimeFundFx reply to my email when I asked them about BDFX

BDFX is currently located in Brussels, Belgium, headquarters of the European Union. Currently, BDFX is in full compliance with all regulatory requirements in our country of domicile.

The financial regulator in Belgium is the FSMA. Currently, FSMA does not yet recognize spot foreign currency as a “financial instrument”, pursuant to local regulatory provisions. As such, and despite our desire, BDFX is not currently able to formally register.

This is very similar to another well-known and reputable brokerage firm, FinFX, who was unable to become recognized with Fin-FSA until March of this year. BDFX will continue to lobby toward this recognition as well as our ongoing exploration in undertaking additional strategically located geographic regions, such as Australia (ASIC) and the EU MiFID program.

it is the same, words by words! How can this be possible? This man, introduced himself as Lukas at primefundfx.com just copy + pasted BDFX statement words by words when I asked them why BDFX and not more well known broker? Seriously? This raised some concern to me. How can primefundfx use the exact wordings with BDFX director himself? Hmmm

 

[Tejo]

Hi Ryan,

I just opened an account with BDFX and I am requested to fund it with the Bank of Valletta (Malta).
Can you explain, because I thought it would be with Morgan Stanley or Barclays, as seen on your website.
Thanks,
Tejo