Never heard of them before, and their language is a bit wishy washy. Just wondering if anyone has traded through them? On the one hand they try to act like they work as a pure pass through to multiple bank liquidity providers, so a direct market access. On the other hand their fine print says they take the other side of every trade instantaneously. So which is it? http://www.advancedmarketsfx.com/why_us.asp
looks like a new firm from 2006. i can't find their executive bios so even if they have the required $20million regulatory capital, why hide their CEO and management team. looks cool site.
Actually their CEO is prominently mentioned on their site, and if you google their company name, they show up in a lot of trade journals with some of the various platform vendors (boilerplate press releases of course). They also claim to hold the $20M minimum. Here is their page on "who they are"... http://www.advancedmarketsfx.com/who_we_are.asp I'm still trying to square their claim of DMA with the fact that their fine print says they take the other side of every trade "instantaneously".
what is the minimum trade size for interbanks and direct access? i assume they take counterparty for mini-lots or micro-lots when too small for interbank clearing. nothing wrong with that.
I'd rather not assume The problem is that the language is open ended, therefore they're free to do it whenever they want. I'll see if I can get clarification.
We at Advanced Markets, received several hits on our website from this thread, and after reading the content, felt it necessary to clarify a few of the questions. Advanced Markets does not take the other side of any trades, and is a pure pass through to only bank liquidity providers. All trades are executed by one of the leading FX banks listed on our partners page. http://www.advancedmarketsfx.com/bank_partners.asp NFA has audited our process and has approved us to use an alternative disclosure that clarifies our model ( This appears in our disclosures section under New account). The following language was approved: THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. AMI IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. THE PRICES AMI OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE. ALTHOUGH AMI IS THE COUNTERPARTY TO EACH OF YOUR TRADES, AMI LIMITS RISK TO ITSELF BY INSTANTANEOUSLY OFFSETTING THE TRADES AND POSITIONS IT ENTERS INTO WITH YOU WITH A BANK OR INSTITUTIONAL MARKET MAKER. AS A RESULT, AMI DOES NOT PROFIT WHEN YOU LOSE MONEY ON A TRADE. RATHER, AMI IS COMPENSATED BY MARKING UP THE PRICE IT RECEIVES FROM THE BANK OR INSTITUTIONAL MARKET MAKER. Advanced Markets is not aware of any other broker allowed to use this language. The smallest trade size that the banks will execute is 10K, or a mini lot. If there are any other questions, please feel free to email info@advancedmarketsfx.com.
i installed the platform on demo, ..... not going to do a full review here, but i can't seems to get the "News" feed to work. i'm currently with GFT Forex so looking for a comparable realtime newsfeed like Informa(IGM). also, i can't find fibonacci drawing tools such as retracement levels, extensions, projections, etc. can't find pivot level lines too. will contact their support. the good point is the spread is best i've seen. sometimes zero spread on EUR/USD.
Pricing/spreads look competitive enough. The software is nice too, i have been using platform one(choiceFx) with Hotspot, until they closed their retail branch. Really convenient order-entry, the charts are useless tho. Platform 2 looks like the same thing Aarontrade/ADM sent me in an email to boast their new spreads. Its all nice and well, but whats the point when there are firms doing the same thing for half the costs. There are now quite a few firms reselling cnx, Integral or this new Fortex solution but charge northwards of $30/m. Wondering if those get much business, i guess there will be a consolidation sooner or later and not every firm will be left standing in a year or two.