Results 1 to 10 of 10

Thread: Looking to trade with Barclays BARX

  1. #1
    Hi, im new here and happy to have found the forexintuitive forums. I am seeking to start an account with Barclays in UK. They've an online trading platform calleed BARX. From their site, the machine appears fairly good, but I want to get information from other members in this forum if this is going to be a fantastic system to use. I'm considering beginning with approx USD 50K - 100K. I know this may seem crazy but im not looking for leveraging and mean to use only my own funds. Will appreciate advice on this.

  2. #2
    Quote Originally Posted by ;
    Yes, Barclays BARX is very sound. I think they are very professional. They are not an bucket shop. So yes, it's a good idea to go with them. But do some research. Always study the market.
    Thank you for the information, much appreciated.

  3. #3
    Quote Originally Posted by ;
    Hello, im new here and happy to have discovered the forexintuitive forums. I am seeking to open an account with Barclays in UK. They have an internet trading platform calleed BARX. From their site, the system looks quite good, but I want to get advice from other members in this forum if this is going to be a fantastic system to use. I am considering beginning with approx USD 50K - 100K. I know this might seem crazy but im not searching for leveraging and intend to use just my own funds. Will appreciate advice on this.
    I've used a couple of distinct brokers through time, BARX was one of them.

    I do not think that it's accessible to US residents, just thought I'd point out that.

    Experts: STP

    Excellent professional support. Phone replied and at comms. With broker very quickly during office hours.

    Tech support still available after office hours.

    Money held in UK bank with promises. Fast.

    Pretty decent platform and execution is usually in 10ths of seconds.

    Very large orders, no problem.

    Commission? BARX is an STP, so all commision is inside the spread, but when beginning I was quoted 3.5 pips for majors like G/U. If you are monthly trading substantial volume, then this can be negotiated . If you are taking a look at beginning with $100k, see if you can go to #100k and you might find a small reduction to get started. Anything over #250-#500k also secures a better rate.

    Disadvantages: When I started with them I had some tech issues in the middle of a crowded LDN trading session and this caused me a small loss, but to be fair, once I talked to them they resolved it quite quickly...I stayed on the phone with the broker for the remainder of the session, placed all of my orders etc.. In addition they refunded the little loss etc whilst they resolved the matter.

    Can't think of any other cons.

    I remember asking those very same questions myself when I started and nobody else seemed to understand, there is not much info on them out there, so thought I'd provide you my thoughts.

    It is better if it's possible to split your risk via 4/5 distinct brokers, Currenex etc rather than keeping your eggs in one basket, just a thought.

    Hope it helps

  4. #4
    May I ask what's their maximum leverage?

  5. #5
    Quote Originally Posted by ;
    may I ask what's their highest leverage?
    BARX direct: FX has a normal minimum margin requirement of 1%
    of the worth of this situation, although this may vary at times across
    various currency pairs. Having a minimum position size of 50,000 of
    the base currency, the margin requirement is 500 of that currency.

    Hence the maximum leverage is 100:1.
    Their minimum position size is 50,000 (0,5 lot).

  6. #6
    Can you start account today?
    How is it going?

  7. #7
    Minimum account size is 5000 pound and spread on EUR/USD is secure 0.9, only rises somewhat during news but not as much as Oanda, this was the situation a few months back. .

  8. #8
    I think you talk about barclays inventory, not barclays capital account
    Quote Originally Posted by ;
    Minimum account size is 5000 pound and spread on EUR/USD is stable 0.9, only climbs a bit during news but not as far as Oanda, that is the situation a couple of months ago. .

  9. #9

  10. #10
    Yes, Barclays BARX is very sound. I think they are very professional. They are not an bucket shop. Yes, it's a good idea. But do some additional research. Always study the market.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information