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Author Topic: Rubix FX  (Read 24181 times)

Offline Alexx

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Rubix FX
« on: February 09, 2015, 11:31:51 AM »
Hello, everyone on the Donna Forex forum! My name is Alex Neo and I work for a new brokerage firm, Rubix FX. Rubix FX was founded by a group of professionals with vast depth of experience in financial markets across multiple asset classes, previously working with top tier banks, hedge funds and law firms. The team of 10+ includes professionals from trading, operations, sales, legal, IT and compliance from institutions including Citi, Goldman Sachs, UBS, Herbert Smith Freehills, SocGen, FIXI, and Global Prime. This team of professionals have come together to bring you Rubix FX.

Some on this forum might remember me from my previous role with Jeremy Kinstlinger and Elan Bension, building and managing Global Prime from inception. I have now moved on to take the next challenge in my career: being a founder in a top brokerage firm, Rubix FX. It would be my pleasure to answer any questions you have regarding the new firm and I hope you will go to our website www.rubixfx.com to find out more.

Rubix FX offers a completely transparent brokerage service with DMA through competitive ECN pricing. Every trade placed through Rubix FX is matched with one of our liquidity providers. At your request, we will provide trade tickets for your trades; we believe this should be standard across the industry. Trade receipts validate that your trades are being matched with a liquidity provider and that the broker is not taking the other side of your trade. Furthermore, Rubix FX is the first broker to openly disclose to all clients that we do not profit from their losses.

By implementing this standard, Rubix FXs goals are aligned with the trader, working together to grow and facilitate profitable strategies.

We have been operating since August 2014, but we have stayed under the radar to improve as many areas of our business before going out to the public. We believe with our professionalism, attention to detail and client care we will be one of the top brokerages globally. We have a profound understanding of clients wants and expectations, and seek to provide effective and cost efficient services to all.

From experience, I have found that one person representing a brokerage firm on a forum is sometimes overwhelming. As a consequence, we will have two representatives to answer your questions and come back to you promptly in response to your queries. On this note, Id like to introduce my colleague and business partner, Gerard Solden, who will be assisting me on DonnaForex.

We are here to help! If you have any questions on who we are, our firm or services, please ask away. We will be online going forward and will endeavour to respond to every comment in a timely fashion and with brutal honesty and transparency. If you would like to get in contact with me directly, you can email me at aneo@rubixfx.com or telephone a member of the team on +61 (2) 9099 4288. We also have online chat at www.rubixfx.com to field your queries.

Happy trading and speak soon!

Cheers
Alex

Offline odysseus11

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Re: Rubix FX
« Reply #1 on: February 10, 2015, 01:03:48 AM »
your synergy FX spreads are not using Hybrid.

right now on Hybrid, as you can see yourself on myfxbook, it is about 1AM GMT and with commissions included the costs are all very close between the brokers u compare. And thats rack rate, not including the Donna Forex discount on Synergy. If you are going to compare, please try to be accurate.
« Last Edit: February 10, 2015, 01:06:24 AM by odysseus11 »
http://www.forexfusion.com
stop gambling. start trading.

Offline Alexx

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Re: Spread comparison
« Reply #2 on: February 10, 2015, 03:32:12 AM »
Hi QuickPipsFX,

I've made a little EA to monitor spreads from brokers and wanted to see how Rubix comes in. I've tested them against Global Prime, Synergy FX and IC Markets.

You see spreads from 21 pairs and at the bottom the sum. Lowest sum = lowest spreads at the moment of printscreen.

Low spreads are critical for my trading, I'll be testing them out with live trading and will report back my experience. Would be happy if they are as good as Global Prime.



[img=http://s2.postimg.org/reddugzad/Spreads.jpg]

[img=http://s2.postimg.org/reddugzad/Spreads.jpg]

Thanks for showing us the brief comparison. We are hoping to increase competition in this sector so that traders will be happy and comfortable with their broker knowing that their trades are going to market. A number of respected members of the DonnaForex forum have contacted me directly and will be conducting spread monitors over the next few weeks. This will hopefully portray average spreads across the board and hopefully break down the spreads during trading sessions (i.e. Asia, London, US). Until we start ramping up volumes, I can honestly say that our spreads will most likely be wider during rollover in comparison to our competitors. However, during close of Asia and the London/US trading day, our spreads significantly tighten!

As you are most probably aware, spreads are not the only factor when seeking a reputable broker. Other important factors include execution time, slippage and server up time/reliability. Im sure that we will not disappoint in these areas as this is where we are bringing a competitive edge! I encourage traders to open a live account and test our platform to see how we match up  ;)

Furthermore, if anyone wants to chat on Skype add me aneo87

Cheers
Alex
« Last Edit: February 10, 2015, 03:33:46 AM by Alexx »

Offline hanscafe59

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Re: Rubix FX
« Reply #3 on: February 10, 2015, 11:17:01 AM »
Hi,
Among the three,  which is most suitable for scalping?

Thx.
Lon/FF: GD/Splitter/plan FW(3pairs)
INA:Lon/Alpari: GD
INA:Lon/Alpari: GD
NYIC: ST
INA: Spider/Fancy/FxSp
Do not give up, KEEP GOING!

Offline Alexx

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Re: Rubix FX
« Reply #4 on: February 10, 2015, 11:40:18 AM »
Hey Hanscafe59
Hi,
Among the three,  which is most suitable for scalping?

Thx.

Rubix FX encourages all strategies. We have liquidity structured to meet all trading styles. Open a demo or live account and let us know how u go :)
« Last Edit: February 10, 2015, 11:42:52 AM by Alexx »

Offline joray

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Re: Rubix FX
« Reply #5 on: February 10, 2015, 01:00:45 PM »
Hey Alexx,

I don't trade with brokers until they have their own licence( as they do not have to put up capital for a white label), any update when you receive your own AFSL?

Cheers,
Joray
« Last Edit: February 10, 2015, 11:11:36 PM by joray »

Offline hanscafe59

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Re: Rubix FX
« Reply #6 on: February 10, 2015, 04:38:28 PM »
Hi,
Among the three,  which is most suitable for scalping?

Thx.
Lon/FF: GD/Splitter/plan FW(3pairs)
INA:Lon/Alpari: GD
INA:Lon/Alpari: GD
NYIC: ST
INA: Spider/Fancy/FxSp
Do not give up, KEEP GOING!

Offline Alexx

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Re: Rubix FX
« Reply #7 on: February 11, 2015, 12:25:00 AM »
Hi Joray,

Hey Alexx,

I don't trade with brokers until they have their own licence( as they do not have to put up capital for a white label), any update when you receive your own AFSL?

Cheers,
Joray

I appreciate your question. It is important that all clients and potential clients understand the regulatory framework, licensing, and how white labelling works.
Rubix FX is an honest and open brokerage firm that is looking to redefine the industry. We take legal and regulatory compliance seriously, and the security of client money is at the forefront of our minds.

White Labelling
I can happily inform you that Rubix FX is not a white label of the AFSL holder, under which we are an authorised representative, or anyone else for that matter. This is why we are able to offer bank counterparty trade receipts for clientele we deal directly with our liquidity providers and our prime broker.

Our AFSL application and relationship with ASIC
In answer to your question, we are at an advanced stage of the application process for receiving our own AFSL.

ASIC has been casting a spotlight on the FX retail sector as a whole, and the risk management processes of current AFSL holders due to extreme recent events (i.e. SNB events causing brokerages around the world to become insolvent). It is our view that application times have slowed down, and ASIC is intending to create an even more robust framework. You can see our response to the SNB events here: http://www.rubixfx.com/trading/margin/. Despite the delay, the team at Rubix FX decided it was in the best interests of our clients to commence operations sooner rather than later so that we could offer competitive pricing and pioneer new practices within the industry.

With the calibre of personnel at Rubix FX and our absolute willingness to work with ASIC regarding risk management policy, we are actively in discourse with the regulator about risk management policy for the sector and what we see as best practice. We welcome this dialogue as we believe regulatory evolution is necessary for the protection of the public.

Our authorised representative status
To put your mind at ease, as an authorised representative of an AFSL holder, we are bound by the same obligations (legal and regulatory, as applicable) as that licensee. Please see our FSG and PDS available here: http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-FSG.pdf; http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-PDS.pdf.

AFSL holders in Australia are required to retain a minimum regulatory capital amount for customer protection. We afford clientele this same protection through our licensee. For all intents and purposes from client money protection and regulatory compliance perspectives, Rubix FX operates as if it were the primary licensee.

We look forward to working with you in the future, as an authorised representative and/or as a direct AFSL holder.

Cheers
Alex
« Last Edit: February 11, 2015, 05:26:40 AM by Alexx »

Offline joray

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Re: Rubix FX
« Reply #8 on: February 11, 2015, 11:24:36 AM »
Hi Joray,

Hey Alexx,

I don't trade with brokers until they have their own licence( as they do not have to put up capital for a white label), any update when you receive your own AFSL?

Cheers,
Joray

I appreciate your question. It is important that all clients and potential clients understand the regulatory framework, licensing, and how white labelling works.
Rubix FX is an honest and open brokerage firm that is looking to redefine the industry. We take legal and regulatory compliance seriously, and the security of client money is at the forefront of our minds.

White Labelling
I can happily inform you that Rubix FX is not a white label of the AFSL holder, under which we are an authorised representative, or anyone else for that matter. This is why we are able to offer bank counterparty trade receipts for clientele we deal directly with our liquidity providers and our prime broker.

Our AFSL application and relationship with ASIC
In answer to your question, we are at an advanced stage of the application process for receiving our own AFSL.

ASIC has been casting a spotlight on the FX retail sector as a whole, and the risk management processes of current AFSL holders due to extreme recent events (i.e. SNB events causing brokerages around the world to become insolvent). It is our view that application times have slowed down, and ASIC is intending to create an even more robust framework. You can see our response to the SNB events here: http://www.rubixfx.com/trading/margin/. Despite the delay, the team at Rubix FX decided it was in the best interests of our clients to commence operations sooner rather than later so that we could offer competitive pricing and pioneer new practices within the industry.

With the calibre of personnel at Rubix FX and our absolute willingness to work with ASIC regarding risk management policy, we are actively in discourse with the regulator about risk management policy for the sector and what we see as best practice. We welcome this dialogue as we believe regulatory evolution is necessary for the protection of the public.

Our authorised representative status
To put your mind at ease, as an authorised representative of an AFSL holder, we are bound by the same obligations (legal and regulatory, as applicable) as that licensee. Please see our FSG and PDS available here: http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-FSG.pdf; http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-PDS.pdf.

AFSL holders in Australia are required to retain a minimum regulatory capital amount for customer protection. We afford clientele this same protection through our licensee. For all intents and purposes from client money protection and regulatory compliance perspectives, Rubix FX operates as if it were the primary licensee.

We look forward to working with you in the future, as an authorised representative and/or as a direct AFSL holder.

Cheers
Alex

Ok, so you have applied for a licence and have no timeline when you will get one.  No need for the long response, I am well versed trader.

 Technically you are a CAR, and therefore have no capital requirements (like the 1.1m needed for the afsl).  I'll await till to see if you are issued one, like most donna users I would assume.

Offline Alexx

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Re: Rubix FX
« Reply #9 on: February 11, 2015, 11:22:09 PM »
Hi Joray,

Hey Alexx,

I don't trade with brokers until they have their own licence( as they do not have to put up capital for a white label), any update when you receive your own AFSL?

Cheers,
Joray

I appreciate your question. It is important that all clients and potential clients understand the regulatory framework, licensing, and how white labelling works.
Rubix FX is an honest and open brokerage firm that is looking to redefine the industry. We take legal and regulatory compliance seriously, and the security of client money is at the forefront of our minds.

White Labelling
I can happily inform you that Rubix FX is not a white label of the AFSL holder, under which we are an authorised representative, or anyone else for that matter. This is why we are able to offer bank counterparty trade receipts for clientele we deal directly with our liquidity providers and our prime broker.

Our AFSL application and relationship with ASIC
In answer to your question, we are at an advanced stage of the application process for receiving our own AFSL.

ASIC has been casting a spotlight on the FX retail sector as a whole, and the risk management processes of current AFSL holders due to extreme recent events (i.e. SNB events causing brokerages around the world to become insolvent). It is our view that application times have slowed down, and ASIC is intending to create an even more robust framework. You can see our response to the SNB events here: http://www.rubixfx.com/trading/margin/. Despite the delay, the team at Rubix FX decided it was in the best interests of our clients to commence operations sooner rather than later so that we could offer competitive pricing and pioneer new practices within the industry.

With the calibre of personnel at Rubix FX and our absolute willingness to work with ASIC regarding risk management policy, we are actively in discourse with the regulator about risk management policy for the sector and what we see as best practice. We welcome this dialogue as we believe regulatory evolution is necessary for the protection of the public.

Our authorised representative status
To put your mind at ease, as an authorised representative of an AFSL holder, we are bound by the same obligations (legal and regulatory, as applicable) as that licensee. Please see our FSG and PDS available here: http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-FSG.pdf; http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-PDS.pdf.

AFSL holders in Australia are required to retain a minimum regulatory capital amount for customer protection. We afford clientele this same protection through our licensee. For all intents and purposes from client money protection and regulatory compliance perspectives, Rubix FX operates as if it were the primary licensee.

We look forward to working with you in the future, as an authorised representative and/or as a direct AFSL holder.

Cheers
Alex

Ok, so you have applied for a licence and have no timeline when you will get one.  No need for the long response, I am well versed trader.

 Technically you are a CAR, and therefore have no capital requirements (like the 1.1m needed for the afsl).  I'll await till to see if you are issued one, like most donna users I would assume.

Hi Joel, I mean Joray,

Yes, youre absolutely right we have applied for a licence and have no timeline from ASIC. As an experienced trader who appears familiar with the Australian financial services regulatory system, you would be aware that ASIC does not provide timelines for the licensing application process. Its unfortunate, but thats ASICs standard procedure.

We are not technically a CAR. We are in fact a CAR. As a well versed trader who appears familiar with CAR structures, youd also be aware that, as a CAR, the regulatory capital requirements for Rubix FX are met by the licensee on our behalf resulting in no further risk to a client in comparison to the scenario where a client is dealing directly with an AFSL holder.

I have to say, I find it a little odd that youre a well versed trader supposedly familiar with the Donnaforex community, yet your account, created at the same time as the Rubix FX thread, has only has 2 posts associated with it, both of which are within this thread, both of which appear to raise queries fraught with factual inaccuracy. Its also strange that you changed your name in your first post from Joel to Joray. Very confusing, but the moderators are undoubtedly keeping a careful eye on things ;)

We have nothing but faith in the robust and intelligent Donnaforex community. Everyone is welcome to review our documentation and make decisions for themselves regarding our adherence to the relevant legal and regulatory framework.

Thanks for your queries

Alex

Offline QuickPipsFX

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Re: Rubix FX
« Reply #10 on: February 11, 2015, 11:35:29 PM »
Hi,
Among the three,  which is most suitable for scalping?

Thx.

The funds for my account are being transfered and I'll be scalping EURUSD with an EA. I'll monitor the execution quality and inform you here how it goes. Have been working with their demo this week, I have good hopes with this one.

Offline aeronthomas

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Re: Rubix FX
« Reply #11 on: February 12, 2015, 04:51:57 AM »
Hi Joray,

Hey Alexx,

I don't trade with brokers until they have their own licence( as they do not have to put up capital for a white label), any update when you receive your own AFSL?

Cheers,
Joray

I appreciate your question. It is important that all clients and potential clients understand the regulatory framework, licensing, and how white labelling works.
Rubix FX is an honest and open brokerage firm that is looking to redefine the industry. We take legal and regulatory compliance seriously, and the security of client money is at the forefront of our minds.

White Labelling
I can happily inform you that Rubix FX is not a white label of the AFSL holder, under which we are an authorised representative, or anyone else for that matter. This is why we are able to offer bank counterparty trade receipts for clientele we deal directly with our liquidity providers and our prime broker.

Our AFSL application and relationship with ASIC
In answer to your question, we are at an advanced stage of the application process for receiving our own AFSL.

ASIC has been casting a spotlight on the FX retail sector as a whole, and the risk management processes of current AFSL holders due to extreme recent events (i.e. SNB events causing brokerages around the world to become insolvent). It is our view that application times have slowed down, and ASIC is intending to create an even more robust framework. You can see our response to the SNB events here: http://www.rubixfx.com/trading/margin/. Despite the delay, the team at Rubix FX decided it was in the best interests of our clients to commence operations sooner rather than later so that we could offer competitive pricing and pioneer new practices within the industry.

With the calibre of personnel at Rubix FX and our absolute willingness to work with ASIC regarding risk management policy, we are actively in discourse with the regulator about risk management policy for the sector and what we see as best practice. We welcome this dialogue as we believe regulatory evolution is necessary for the protection of the public.

Our authorised representative status
To put your mind at ease, as an authorised representative of an AFSL holder, we are bound by the same obligations (legal and regulatory, as applicable) as that licensee. Please see our FSG and PDS available here: http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-FSG.pdf; http://rubixfx.com/wp-content/uploads/2015/02/Rubix-FX-PDS.pdf.

AFSL holders in Australia are required to retain a minimum regulatory capital amount for customer protection. We afford clientele this same protection through our licensee. For all intents and purposes from client money protection and regulatory compliance perspectives, Rubix FX operates as if it were the primary licensee.

We look forward to working with you in the future, as an authorised representative and/or as a direct AFSL holder.

Cheers
Alex

Ok, so you have applied for a licence and have no timeline when you will get one.  No need for the long response, I am well versed trader.

 Technically you are a CAR, and therefore have no capital requirements (like the 1.1m needed for the afsl).  I'll await till to see if you are issued one, like most donna users I would assume.

Thanks for pointing out they are using another companies AFSL and not their own.  I for one would wait for this ASIC license to be issued before even considering this broker.  I wish the broker success though, competition can only be a good thing.

Offline gsolden

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Re: Rubix FX
« Reply #12 on: February 12, 2015, 05:44:06 AM »
Thanks for the intro, Alex.


Like Alex, my vision for Rubix FX was to start a broker of the highest calibre. Throughout my career, I worked at hedge funds and banks, and was surprised to see the difference in service between the retail and institutional segments of the market. At Rubix FX, we believe that all retail traders deserve a professional, reliable and transparent broker.


Please feel free to contact me if you have any queries whatsoever.


I look forward to hearing from you.

Best Regards,

Gerard
« Last Edit: February 12, 2015, 05:46:00 AM by gsolden »

Offline drodgytrader

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Re: Rubix FX
« Reply #13 on: February 18, 2015, 04:33:22 AM »
Hi,

I've just installed a demo of your platform.

Your spreads are very tight for AUDUSD and USDJPY which is mainly what i trade.
In your live versoin do you still offer the same spreads or is it a different account?

Regards

Offline Alexx

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Re: Rubix FX
« Reply #14 on: February 18, 2015, 06:08:17 AM »
Hi,

I've just installed a demo of your platform.

Your spreads are very tight for AUDUSD and USDJPY which is mainly what i trade.
In your live versoin do you still offer the same spreads or is it a different account?

Regards

Rubix FX only offers one type of account, ECN only. The spreads on your demo account are the exact same to the live environment :)

Please note that with a demo account this is a simulated environment and cannot receive trade receipts as trades are not going to the market.

Happy trading and let us know if you need any further assistance

Cheers
Alex

 

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