EFX Group - Welcome

[Stormin_Norman]

E FX OPTIONS

net worth: $5,128,233
capital required: $5,000,000
excess capital: $128,233 -96.97% (change in excess capital)

have merged with

MB TRADING FUTURES INC.

net worth:$7,017,099
capital required: $5,000,000
excess capital: $2,017,099 -61.94% (change in excess capital)

to form a broker

net worth: $12,145,332
capital required: $5,000,000
excess capital: $7,145,332 +354.24% (change due to merger)

figures dated 2007-12-31 source: http://www.brokerontop.com/small_futures_commission_merchant.htm

 

[Nick Radge]

Justin,
What do you think about trading the GBP/JPY?

 

[efx_justin]

E FX OPTIONS

net worth: $5,128,233
capital required: $5,000,000
excess capital: $128,233 -96.97% (change in excess capital)

have merged with

MB TRADING FUTURES INC.

net worth:$7,017,099
capital required: $5,000,000
excess capital: $2,017,099 -61.94% (change in excess capital)

to form a broker

net worth: $12,145,332
capital required: $5,000,000
excess capital: $7,145,332 +354.24% (change due to merger)

figures dated 2007-12-31 source: http://www.brokerontop.com/small_futures_commission_merchant.htm

Stormin Norman ~

I must correct you - E FX Options and EFX Group are two completely separate companies. EFX Group an introducing agent for MB Trading has been acquired by Manhattan Beach Trading, not E FX Options.

Additionally, a companies “net worth” and their “adjusted net cap” are two completely different things…it’s important to note that. Adjusted Net Capital is what the firm has on deposit with the NFA; it has nothing to do with the companies Net Worth.

Just making sure the correct info is out there.

 

[efx_justin]

Justin,
What do you think about trading the GBP/JPY?

I think its a great pair...lots of liquidity, a great ADR (Average Daily Range) and with us a very attractive spread of 3-5 pips on average.

 

[nizar]

Justin,
What do you think about trading the GBP/JPY?

It gives some massive trends.
I havent done the testing yet but I suspect the payoff would still be handsome in spite of the (relatively) wide spread.

 

[tayser]

Something to consider re: EFX commissions, volume and account size, straight from the horses mouth on FF: http://www.forexfactory.com/showpost.php?p=1896984&postcount=1763

Start @ $50 per million traded then there's other tiers at $40 per million and $30 per million.

Justin, what sort of account size and volume would you need to be putting through EFX on a monthly basis to get to the $30 per million tier? And am I to assume this is not automatic and we should ring up and negotiate when we think we're in a position to do so?

Just a rough guesstimate on the tiers would be nice.

roundtrip pip commissions of 0.5-0.6 on AUD/JPY, 1.10-1.20 on GBP/JPY and 0.9-1.0 on EUR/JPY is very enticing for scalpers ($30/million)

Cheers.

 

[efx_justin]

Justin, what sort of account size and volume would you need to be putting through EFX on a monthly basis to get to the $30 per million tier? And am I to assume this is not automatic and we should ring up and negotiate when we think we're in a position to do so?

Cheers.

Hi Tayser ~

It really depends on the style of the trader - someone with $100,000 in their account might only place 1 or 2 trades in increments of 500,000...while another trader with the exact same amount might place 20-25 trades in increments of 500,000. So while the first trader did roughly a $1M in volume that day, the other trader with the same account might have done $20M in volume. This is just an example...but you certainly understand what I mean.

Correct, the commissions do not adjust automatically and I would advise you to contact our offices to discuss such changes.

 

[Stormin_Norman]

apologies justin. i was looking at U.S. Commodity Futures Trading Commission data and couldnt find efx listed at all in that case.

how much is the net value of the merged new company?

 

[nizar]

roundtrip pip commissions of 0.5-0.6 on AUD/JPY, 1.10-1.20 on GBP/JPY and 0.9-1.0 on EUR/JPY is very enticing for scalpers ($30/million)

That would be beautiful.

 

[efx_justin]

apologies justin. i was looking at U.S. Commodity Futures Trading Commission data and couldnt find efx listed at all in that case.

how much is the net value of the merged new company?

Hi Stomin ~

MB Trading Futures has a current reported Net Cap of $7 million, this of course is only for our FCM. MB Trading which is our securities firm - is also a member of SIPC and FINRA.