If you remember, I posted an article about ThecollectiveFX a while ago. I had the chance to talk to one of the founders – Gary Slingo – and it was probably their first public interview.
TheCollectiveFX is a peculiar company and it is not your typical forex brokerage. Its business model is out of the box to say the least – the founders aren’t interested in commissions or your losses, instead they are interested in leveraging the consumers’ power in order to get the best spreads in the market. So basically, each trader is a participant in this spread reduction plan and not a client of TheCollectiveFX per se.
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TheCollectiveFX ‘came out’ in that interview to the public light but were a bit reluctant to tell who their LP’s were at the time. It’s website at the time wasn’t very informative leading to number of questions being asked by traders. I guess everything takes time.
Recently TheCollectiveFX decided to embrace the transparency approach and launched a revamped website which looks like great to me. There, on the first page, you can find all the information you need to know about the brokerage and its business model (as I said, they don’t have one). It also boasts an extensive FAQ section answering just about any question you might have.
Good work guys.