Need A Real Professional FX Broker

Discussion in 'Forex Brokers' started by Fundlord, May 6, 2015.

  1. nitro

    nitro

    Then they suck. That leaves the pure ECNs. Currenex, Hotspot, etc.

    I seem to remember that Integral only allowed LL for something like 250 millis, and they could only LL about 10% of quotes that were hit. But I think it was not enforced. If it were enforced, that level of latency and fill rate is probably reasonable for a retail trader, imo.

    The whole idea of LL is so distasteful to me though...
     
    Last edited: Jul 21, 2015
    #51     Jul 21, 2015
  2. Hotspot does it too. Although you can request to disable all LPs with LL-privileges for your login (this will result in wider spreads obviously). Same with currenex.

    Strictly no LL is CME, lmax (and ebs and reuters, but these have very high minimums obv).
     
    #52     Jul 21, 2015
  3. nitro

    nitro

    I would rather get a What-You-See-Is-What-You-Get (WYSIWYG) w/o LL. Then there are no games. CME is not spot currency, but futures with horrendous spreads and/or poor liquidity. LMAX and the whole slew of European FOREX not available to US retail customers, AFAIK.

    If you come to any of these as an institution through a Prime Broker, they all have the ability to turn off LL and give you a very effective feed, so you get tight spreads and no LL. There are probably 400+ of those world-wide, but as you say, it is not for retail trades with $100,000 accounts. Last I saw, you needed $10M+.

    All of this is a result of Dodd-Frank. They got this one wrong.

    P.S. To me, there is a great opportunity to make much tighter spreads at the CME, hedged with spot in NY. But for this you need to make it worthwhile in flow, in addition to having extreme low latency networks. NY dominates currency trading. If Chicago had tight futures currency spreads, it would rule the currency world since futures don't have idiotic DF rules.
     
    Last edited: Jul 21, 2015
    #53     Jul 21, 2015
  4. You mean an option in the preferences of the broker Frontend? Are you referring to Interactive Brokers having such option? That is news to me.

    And as institutional player you usually negotiate with liquidity providers directly or go through an aggregator. For latency reasons some of them provide 2 different feeds, one with last look and another without. I have not compared the two side by side for any liquidity provider but I heard that they are virtually identical in terms of pricing and spread unless your order is in quite large size. Obviously the LL feed has higher built in latency.

     
    Last edited: Jul 21, 2015
    #54     Jul 21, 2015
  5. Davidd50

    Davidd50

    anyone actually tried them out though?
     
    #55     Aug 5, 2015
  6. shill alarm!!! Why do you quote your own message.

    XGlobal is a bucketshop, MT4, wide spreads tells it all. Stay away, newbies!!!


     
    #56     Aug 5, 2015
  7. fxGnome

    fxGnome

    How pepperstone ecn account?
     
    #57     Aug 12, 2015
  8. They are totally uncompetitive, around twice as much as Interactive Brokers unless you fund with >1million USD at which they about match IB's currency commission charges.

     
    #58     Aug 13, 2015
  9. fxGnome

    fxGnome

    hi,
    thank you for reply to me.
    yes, i noticed their cheat or corrupt.
     
    #59     Aug 18, 2015
  10. fxGnome

    fxGnome

    #60     Aug 18, 2015