DBFX
Encyclopedia
dbFX was Deutsche Bank’s online margin forex trading platform
for individuals which was shut down on 13 May 2011. The client list was bought by Gain Capital
and existing clients were directed to Gain's retail service forex.com upon closure of the business.
dbFX on its website said "...We'd like to inform you that from Friday 13 May 2011, Deutsche Bank will no longer provide dbFX, its online FX trading platform for individuals and small institutions. dbFX has made arrangements that will allow existing clients to open an account with FOREX.com...".
On April 21, 2011, Deutsche Bank
said it would exit the retail forex trading business and announced dbFX client database would be sold to Gain Capital
and the clients will be transferred to Gain's retail brand forex.com. This was complete and business shutdown on May 17, 2011. Although Deutsche Bank did not go into much details to explain why it was shutting down the business, it is likely that they failed to attract the numbers of retail clients they had expected. This was at a time when forex trading regulations in the US and elsewhere were getting stricter which may have been seen as a risk for its wholesale forex business. At the time of closure Deutsche Bank was the largest wholesale forex trader by market share in the world but the retail service was provided by a third party under a white-label agreement and so did not use the prices and infrastructure of its wholesale forex business which likely contributed to its failure.
An Introducing Broker Program was also offered to those looking to introduce self-directed and managed accounts to dbFX.
and was available in 7 languages: English, Chinese, Arabic, German, Spanish, French and Russian. Features included integrated charts, hedging with no FIFO
restrictions, different order types, real-time account summary and 24-hour reporting.
Retail forex platform
Retail foreign exchange trading is a small segment of the large foreign exchange market. In 2007 it had been speculated that volume from retail foreign exchange trading represents 5 percent of the whole foreign exchange market which amounts to $50–100 billion in daily trading turnover. The retail...
for individuals which was shut down on 13 May 2011. The client list was bought by Gain Capital
Gain Capital
GAIN Capital is a global provider of online trading services based in Bedminster in the United States. GAIN Capital provides market access and trade execution services in foreign exchange, contracts for differences and exchange-based products to retail investors...
and existing clients were directed to Gain's retail service forex.com upon closure of the business.
dbFX on its website said "...We'd like to inform you that from Friday 13 May 2011, Deutsche Bank will no longer provide dbFX, its online FX trading platform for individuals and small institutions. dbFX has made arrangements that will allow existing clients to open an account with FOREX.com...".
History
dbFX was launched in May 2006 in response to the growing global forex market and increasing client demand for streamlined access to capital market products. Initially offered to clients across Europe, the Americas and Asia Pacific, dbFX later became the first international investment bank to provide online retail FX services to the Middle East in October 2007.On April 21, 2011, Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
said it would exit the retail forex trading business and announced dbFX client database would be sold to Gain Capital
Gain Capital
GAIN Capital is a global provider of online trading services based in Bedminster in the United States. GAIN Capital provides market access and trade execution services in foreign exchange, contracts for differences and exchange-based products to retail investors...
and the clients will be transferred to Gain's retail brand forex.com. This was complete and business shutdown on May 17, 2011. Although Deutsche Bank did not go into much details to explain why it was shutting down the business, it is likely that they failed to attract the numbers of retail clients they had expected. This was at a time when forex trading regulations in the US and elsewhere were getting stricter which may have been seen as a risk for its wholesale forex business. At the time of closure Deutsche Bank was the largest wholesale forex trader by market share in the world but the retail service was provided by a third party under a white-label agreement and so did not use the prices and infrastructure of its wholesale forex business which likely contributed to its failure.
Services
dbFX offered online FX trading services to self-directed traders, money managers, hedge funds and financial institutions via its trading platform software.An Introducing Broker Program was also offered to those looking to introduce self-directed and managed accounts to dbFX.
Trading Platform
The dbFX trading platform was provided under a white-label agreement from FXCMFXCM
Forex Capital Markets, better known as FXCM, is a retail on-line foreign exchange broker based in New York. It provides its services through its own on-line trading platforms and through third party platforms such as MetaTrader 4....
and was available in 7 languages: English, Chinese, Arabic, German, Spanish, French and Russian. Features included integrated charts, hedging with no FIFO
FIFO
FIFO is an acronym for First In, First Out, an abstraction related to ways of organizing and manipulation of data relative to time and prioritization...
restrictions, different order types, real-time account summary and 24-hour reporting.