ForexNation.Org gives brokerage profits to charity

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123Reverse
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Re: ForexNation.Org gives brokerage profits to charity

Post by 123Reverse »

Cheers.

Some (I had assumed many) would want to run both a demo and a live account, rather than change the demo to live.

Especially here where there is always a new supply of EAs and ideas to try out.
justin7
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Re: ForexNation.Org gives brokerage profits to charity

Post by justin7 »

you do not accept US clients?
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dan68
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Re: ForexNation.Org gives brokerage profits to charity

Post by dan68 »

Not yet justin7 but it's in progress.
Last edited by dan68 on Thu Jul 11, 2013 4:44 am, edited 1 time in total.
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dan68
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Re: ForexNation.Org gives brokerage profits to charity

Post by dan68 »

123Reverse wrote:Cheers. Some (I had assumed many) would want to run both a demo and a live account, rather than change the demo to live. Especially here where there is always a new supply of EAs and ideas to try out.
Yes the people I trade with all use our demos to tweak and test too. If more traders did there'd likely be a higher survival rate amongst our kind :geek:
justin7
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Re: ForexNation.Org gives brokerage profits to charity

Post by justin7 »

dan68 wrote:Not yet justin7 but it's in progress.
I'll be glad to test you guys out. Please post here when/if you accept US clients.
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dan68
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Re: ForexNation.Org gives brokerage profits to charity

Post by dan68 »

Thank you. We will.
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kwanann
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Re: ForexNation.Org gives brokerage profits to charity

Post by kwanann »

Hmm so this would mean that in terms of spread, liquidity etc, you have the same as axi?
I've been trading using OM Dual N EA for the past 2 years, live results can be found over at https://www.fxblue.com/users/kwanann
e-trader
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Re: ForexNation.Org gives brokerage profits to charity

Post by e-trader »

kwanann wrote:Hmm so this would mean that in terms of spread, liquidity etc, you have the same as axi?
So further to this, if AXIcorp is your liquidity provider you are non-ECN?

And, on another note, i received a call from axi saying i had downloaded their platform for demo. I never did that. had never heard of them until i downloaded your demo. When i asked him if you were affiliated he said he had never heard of fxnation. I also used live chat on axi after, they also said they had never heard of fxnation (but they did admit they were only support and do not know all of axi's affiliations)
But then it gets weird. I received a call from fxnation for verification. I asked them if they were affiliated with axi and they said yes but it is a completely separate company. However, the phone numbers from axi and fxnation are close but not quite the same. Close enough though to be on the same exchange.
axi = 61299655818
fxnation =61299655834 (i talked to Dainne from this number)
Also, the guy i talked to on both occasions from both company's sounded exactly the same but he said he had never called me before.
I know that you said axi does some of your back office stuff and indeed, i see that all of the docs i received from you are axi's.
So, what i;m hoping is that maybe fxnation can shed some light on these concerns.
Cheers,
E-trader
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dan68
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Re: ForexNation.Org gives brokerage profits to charity

Post by dan68 »

kwanann wrote:Hmm so this would mean that in terms of spread, liquidity etc, you have the same as axi?
Yes kwanann. Spreads from 0.1 on Pro accounts, with an average of 0.3 on majors, and 0.6 on Standard accounts http://forexnation.org/trading/ and liquidity from 14 of the world's biggest banks - all of which are listed in the footer on our website http://www.forexnation.Org (this provides both a very large number of bank partners and at the highest quality of bank partner).

The difference between trading with Axi or with FXN is that FXN is not-for-profit so the commission we make is used to fund charitable works.
Last edited by dan68 on Mon Jul 15, 2013 9:14 am, edited 1 time in total.
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dan68
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Re: ForexNation.Org gives brokerage profits to charity

Post by dan68 »

Lol E-trader, I'm a trader too so I know how much we love a good broker conspiracy story but I can assure you there's nothing weird about what you've experienced - a little sloppy, yes (and my apologies for that, being so new there are still a couple of bugs to iron out), but not weird. It's simply a process of the "white label" structure that FXN has entered into with AxiCorp as our provider. I'm happy to describe the processes so you're across the detail.

1. If the platform you downloaded was from the FXN site and has the FXN icon and the words "Forex Nation Empty4" in the top left corner of the platform, you have downloaded the FXN demo. If it says AxiTrader Empty4 then you have downloaded AxiCorp's own broker platform. However it is impossible to do that from the FXN site as they are hosted in separate places. The fact that you got a call from Axi to talk about the platform is sloppy and something I will look into on monday. in the meantime I apologise for that inconvenience.

2. If you have a FXN demo account you cannot use the AxiTrader live chat for assistance. We are two very separate companies so you must use the contact hotline or online support provided from the FXN website.

3. The fact that you received a verification call from FXN is far from weird. It's what you would expect having setup a demo with FXN (it was actually any interaction you had with Axi that is unusual but as I mentioned I will look into this).

4. We have several support people. Tyson is the manager of our support team so if you are ever unsure of something you've been told by our support please ask for Tyson. (support is available 24hrs so obviously Tyson won't always be available, so if you ask for him and he's not on shift please leave a message for him).

5. Yes our phone numbers are very similar because they do indeed come from the same exchange. In fact as you will see from the complete disclosure on our website, FXN operates from the same building as AxiCorp and AxiTrader. This is because AxiCorp has kindly subsidised a heap of our operating expenses to ensure we can give the maximum amount of our revenue to charitable projects.

6. In terms of FXN and Axi's documents being the same, some are and some are not. Financial services in Australia is extremely strict and the compliance processes we go through before we can publish pretty much anything is arduous. There are a handful of compliance lawyers that specialise in financial services and all Aust. brokers use them. In some instances we've used Axi's formatting for convenience sake. In some instances we've used an exact copy of an Axi document by legal requirement based on our relationship. AxiCorp is Australia's biggest broker and they have spent a lot of money on their compliance legals so it's not a wheel FXN needed to recreate.

Right now it is 9.22am on a saturday in sunny sydney and I'm heading out for breakfast with friends. When I return I will answer your question about ECN, non-ECN and what ECN claims in this industry really mean. Thanks for your questions! Stay tuned ;)
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