Well folks, I decided to “bite the bullet” sorta speak and went through the arduous procedure of faxing paperwork and proof of ID and all that other fun stuff. I funded my account via credit card so hopefully FXCM will be efficient enough to activate my account BEFORE GalleonFX’s deadline of Oct 31’st. I am told that the whole procedure takes 3-5 business days so I think I will make it in time.
For those interested I opened a USD CM25account even though GalleonFX recommends EUR due to the decline of the USD. Being Canadian I decided to take advantage of the strength of the CDN versus the USD, but converting CDN to EUR is not advantageous right now, so the logical choice for me was to open a USD account. Maybe later on if I like GalleonFX’s performance I will open a EUR account as a hedge and maybe increase my account sizes, but for now I am curious to see how GalleonFX performs in the next 3-5 months.
Anyways, that’s all for now. All interested parties can visit GalleonFX’s website at: