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Info on broker: BankDirectFX
- Thread starter RussG
- Start date
-
- Tags
- bdfx bank direct fx
BankDirectFX
BDFX.com Representative
- Messages
- 39
Hi Everyone,
It’s my pleasure to drop in and address some of the additional questions posed by wokad80 and Tejo.
@wokad80: It remains very important to clarify any unnecessary confusion you are experiencing, as the “PrimeFundFX” program you’ve referenced is merely one of many third-party Money Managers trading through our brokerage service.
BankDirectFX is in NO manner related to PrimeFundFX. And, although the source of your confusion is appreciated, you are drawing wildly inaccurate conclusions which are not based in fact.
As I’m sure you are aware, it is common practice for brokerage to provide IB’s and Money Managers with standard marketing materials, which, aside from graphic banners and other tools & widgets, includes response templates to very common questions.
In this instance, you’ve apparently received from the manager a response template, written by myself as Director for both our in-house administrative and support staff as well as external third-party IB’s and Managers. You will receive much the same reply to that general question from our contracted live chat operators as well as any general low-level Support and Administrative staff at BDFX.
This, of course, is standard support practice for virtually every company in existence, including brokerages.
More to the point, wokad80: if you have questions about our brokerage, you are always invited to contact me.
@Tejo: Because BankDirectFX is an institutional-quality, true Straight Through Processing (STP) broker providing direct raw interbank conditions, all client funds are held in fully segregated accounts with our interbank liquidity providers.
With us, it means that funds are held in fully segregated client accounts, separate from our company’s operating capital, with our interbank liquidity provider through funds custodian Barclays and Morgan Stanley.
If you are not familiar with the difference between a market maker and a brokerage processing client trades straight through to an interbank liquidity provider, it would be my pleasure to provide you with more comprehensive insight in this capacity.
In order to facilitate client deposits, funds are placed on deposit with BDFX through Bank of Valletta. Client funds are then required to be routed to our interbank liquidity provider, where they are held at Barclays and Morgan Stanley for trading through the LP.
I understand that benefiting from a true institutional brokerage offering direct interbank liquidity may be something new to most of the users on this forum, accustomed to being provided horrendous spreads and very poor market conditions and trade execution.
Therefore, and in addition to the questions posed, I encourage you to download a demo account and reach out to our support staff. You are also welcome to contact me at ryan@bdfx.com .
Our market environment, trading conditions, and execution simply speak for themselves. I am confident you will appreciate what we offer.
Sincerely,
Ryan
It’s my pleasure to drop in and address some of the additional questions posed by wokad80 and Tejo.
@wokad80: It remains very important to clarify any unnecessary confusion you are experiencing, as the “PrimeFundFX” program you’ve referenced is merely one of many third-party Money Managers trading through our brokerage service.
BankDirectFX is in NO manner related to PrimeFundFX. And, although the source of your confusion is appreciated, you are drawing wildly inaccurate conclusions which are not based in fact.
As I’m sure you are aware, it is common practice for brokerage to provide IB’s and Money Managers with standard marketing materials, which, aside from graphic banners and other tools & widgets, includes response templates to very common questions.
In this instance, you’ve apparently received from the manager a response template, written by myself as Director for both our in-house administrative and support staff as well as external third-party IB’s and Managers. You will receive much the same reply to that general question from our contracted live chat operators as well as any general low-level Support and Administrative staff at BDFX.
This, of course, is standard support practice for virtually every company in existence, including brokerages.
More to the point, wokad80: if you have questions about our brokerage, you are always invited to contact me.
@Tejo: Because BankDirectFX is an institutional-quality, true Straight Through Processing (STP) broker providing direct raw interbank conditions, all client funds are held in fully segregated accounts with our interbank liquidity providers.
With us, it means that funds are held in fully segregated client accounts, separate from our company’s operating capital, with our interbank liquidity provider through funds custodian Barclays and Morgan Stanley.
If you are not familiar with the difference between a market maker and a brokerage processing client trades straight through to an interbank liquidity provider, it would be my pleasure to provide you with more comprehensive insight in this capacity.
In order to facilitate client deposits, funds are placed on deposit with BDFX through Bank of Valletta. Client funds are then required to be routed to our interbank liquidity provider, where they are held at Barclays and Morgan Stanley for trading through the LP.
I understand that benefiting from a true institutional brokerage offering direct interbank liquidity may be something new to most of the users on this forum, accustomed to being provided horrendous spreads and very poor market conditions and trade execution.
Therefore, and in addition to the questions posed, I encourage you to download a demo account and reach out to our support staff. You are also welcome to contact me at ryan@bdfx.com .
Our market environment, trading conditions, and execution simply speak for themselves. I am confident you will appreciate what we offer.
Sincerely,
Ryan
efa-FX
Private, 1st Class
- Messages
- 40
Hi all, hi Ryan.
Ryan - Your answer is blablablabla !
I've 20 years+ in the banking area... on top of all I read in this discussion, I certainly would NOT trust a bank which is advertising prime names as cash depository banks and require to fund accounts through a bank in Malta ! "To facilitate clients deposits" you said. A wire transfer to Morgan or Barclays is as easy as to Valletta.
Tejo - You're probably excited by returns advertised by PrimeFundFX, don't you?. Forget it! You have read a positive commentary? Do you really know who wrote it???
bibi
Ryan - Your answer is blablablabla !
I've 20 years+ in the banking area... on top of all I read in this discussion, I certainly would NOT trust a bank which is advertising prime names as cash depository banks and require to fund accounts through a bank in Malta ! "To facilitate clients deposits" you said. A wire transfer to Morgan or Barclays is as easy as to Valletta.
Tejo - You're probably excited by returns advertised by PrimeFundFX, don't you?. Forget it! You have read a positive commentary? Do you really know who wrote it???
bibi
BankDirectFX
BDFX.com Representative
- Messages
- 39
Hello efa-FX:
Perhaps my latest post was “blablablabla”, as you have so articulately described it, the result of the fact that English is admittedly not your primary language. If you require assistance in translating my messages, I will be very happy to undertake the appropriate effort to furnish you with the information you desire in a language in which you are competent.
Otherwise, you will have found it to contain useful and comprehensive information with respect to the interbank nature of the Forex market, the manner in which brokerages work with liquidity providers, the difference between market makers and true interbank brokerages offering STP (Straight Through Processing), and the manner in which brokerages hold segregated client funds with their interbank liquidity providers when running STP order routing.
The comments you’ve made are suggestive to the fact that you are not familiar with the manner in which Forex brokerages work with liquidity providers, who aggregate pricing liquidity from the multi-national banks. Therefore, it is my pleasure to clarify your ongoing confusion and provide you with the appropriate insight and knowledge necessary to make more informed comments in the future.
First, let’s clarify some of your important comments which require clarification:
As previously explained, our interbank liquidity providers utilize Barclays and Morgan Stanley to hold client funds. I am very sympathetic to the fact that you do not understand what a liquidity provider is, nor how brokerages work with liquidity providers in order to obtain marketing pricing and execute trades in the interbank market on behalf of their clients, therefore I will explain it to you for your own benefit.
Here’s quick lesson for you. It will serve to be a nice compliment to your already 20+ years of banking experience:
(1) The Forex market is an interbank marketplace whereby pricing is derived from the electronic network of multinational banks and market participants.
(2) Every Forex brokerage in existence works with liquidity providers, who aggregate the pricing from these multinational banks and stream these price feeds into the front-end charting platform for client trading execution on the market.
There are two different types of Forex brokerages:
(1) Retail “market makers” who serve counterparty to their clients trades and do not route orders to the real interbank market. Rather, they run a dealing desk and trades never leave the broker.
These are typically brokers you want to avoid.
(2) Brokers offering “Straight Through Processing” (STP). They provide their clients with direct interbank market access whereby trades are routed directly to the liquidity provider for execution. In this case, funds must be on deposit with the liquidity provider for execution.
BankDirectFX is a true STP brokerage providing direct raw interbank spreads and market access. As such, our client funds are held on deposit with our interbank liquidity provider with Barclays and Morgan Stanley.
BankDirectFX banks with Valletta. Our liquidity providers hold the client funds with Morgan Stanley and Barclays.
BankDirectFX banks with Bank of Valletta. Clients deposit funds with BDFX in this manner.
In order to allow our clients to execute their trades directly with the interbank liquidity provider, these funds are sent to the liquidity provider and held in segregated accounts with Barclays and Morgan Stanley.
This is NO DIFFERENT than any other brokerage in existence.
Sincerely,
Ryan
Perhaps my latest post was “blablablabla”, as you have so articulately described it, the result of the fact that English is admittedly not your primary language. If you require assistance in translating my messages, I will be very happy to undertake the appropriate effort to furnish you with the information you desire in a language in which you are competent.
Otherwise, you will have found it to contain useful and comprehensive information with respect to the interbank nature of the Forex market, the manner in which brokerages work with liquidity providers, the difference between market makers and true interbank brokerages offering STP (Straight Through Processing), and the manner in which brokerages hold segregated client funds with their interbank liquidity providers when running STP order routing.
The comments you’ve made are suggestive to the fact that you are not familiar with the manner in which Forex brokerages work with liquidity providers, who aggregate pricing liquidity from the multi-national banks. Therefore, it is my pleasure to clarify your ongoing confusion and provide you with the appropriate insight and knowledge necessary to make more informed comments in the future.
First, let’s clarify some of your important comments which require clarification:
We are NOT advertising prime names as cash depository banks. Perhaps you were not capable to properly read my previous explanation as a result of your challenges with the English language.
As previously explained, our interbank liquidity providers utilize Barclays and Morgan Stanley to hold client funds. I am very sympathetic to the fact that you do not understand what a liquidity provider is, nor how brokerages work with liquidity providers in order to obtain marketing pricing and execute trades in the interbank market on behalf of their clients, therefore I will explain it to you for your own benefit.
Here’s quick lesson for you. It will serve to be a nice compliment to your already 20+ years of banking experience:
(1) The Forex market is an interbank marketplace whereby pricing is derived from the electronic network of multinational banks and market participants.
(2) Every Forex brokerage in existence works with liquidity providers, who aggregate the pricing from these multinational banks and stream these price feeds into the front-end charting platform for client trading execution on the market.
There are two different types of Forex brokerages:
(1) Retail “market makers” who serve counterparty to their clients trades and do not route orders to the real interbank market. Rather, they run a dealing desk and trades never leave the broker.
These are typically brokers you want to avoid.
(2) Brokers offering “Straight Through Processing” (STP). They provide their clients with direct interbank market access whereby trades are routed directly to the liquidity provider for execution. In this case, funds must be on deposit with the liquidity provider for execution.
BankDirectFX is a true STP brokerage providing direct raw interbank spreads and market access. As such, our client funds are held on deposit with our interbank liquidity provider with Barclays and Morgan Stanley.
It is not possible for clients to deposit funds directly with a brokerage’s liquidity provider. To suggest this as a possibility is just silly.
BankDirectFX banks with Valletta. Our liquidity providers hold the client funds with Morgan Stanley and Barclays.
BankDirectFX banks with Bank of Valletta. Clients deposit funds with BDFX in this manner.
In order to allow our clients to execute their trades directly with the interbank liquidity provider, these funds are sent to the liquidity provider and held in segregated accounts with Barclays and Morgan Stanley.
This is NO DIFFERENT than any other brokerage in existence.
Sincerely,
Ryan
ozfader
Recruit
- Messages
- 3
bibi, I don't know whether the explanation Ryan has given is true or not, but your reply is worse than blablablabla! You don't qualify anything you say with any actual evidence, which makes it worse than useless because it can lead people to believe what you're saying is based on fact. Twenty years in the banking "area"? You could have been a teller, or a parking attendant, or the guy that sells donuts to the REAL bankers for all we know.
Be responsible. If you're going to bag someone or something, be man enough to provide some PROOF!
BTW, for those that are about to bag me as being a bagman for BDFX or PrimeFundFX, the first I have heard about them was tonight, about a half hour ago. I too am sceptical about their published results. In fact the reason I'm on this forum now is to check out other traders' experience with them, and look for some REAL information, not some immature rumour-mongering. If you can't contribute sensible debate, don't contribute at all. It reduces the quality of the information and instills doubt in everyone's mind about what might otherwise be legitimate data.
quicksilver
Private, 1st Class
- Messages
- 78
Hey Ryan... perhaps you can start off by STOPPING the idiots at PrimeFundfx from sending unsolicited emails, if you guys are indeed really serious about your brand. I have already logged a spamcop report as well as reported the spam to the email service provider they are using.
Craneliu.. thanks for that link. Will be complaining on them to myfxbook guys as well.
Bunch of retards who think they can solicit funds by spamming people.
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