Anyone traded propfx live?

Discussion in 'Forex Brokers' started by 4x Steven, Oct 4, 2006.

  1. I have tried the demo and the execution on that is amazingly fast-which means nothing.
    Anyone trade on it live?
    Same old FXCM tricks or is it the real deal?
    I see they add 1 to 2 pips on the euro and 2 to 3 pips to the pound and franc spread over prime brokers. But if the fills are anythin like they are on the Demo It may be doable in certain markets.
     
  2. Pippi436

    Pippi436

    I dont get why they widen the spread instead of charging a commission like everyone else that offers currenex. Besides, doesnt that sorta contradict their STP-claim..
     
  3. captlu

    captlu

    I hate FXCM.

    I tried many different brokers, I have now settled on IFX Markets. They are simply amazing, their platform is very fast, stable and the software is FULL of features.

    They are commission based but I learned quickly you get what you pay for in a broker, well worth it.
     
  4. notouch

    notouch

    Nice of you to advertise them on only your second post. IFX is responsible for Finspreads, widely regarded as the worst spread betting company in the world. I tried it for a day to witness the "unavailable prices" and connection problems that occur around economic releases. And what do you mean they are commission based? "At IFX we do not charge our customers any fees or commissions on FX trading." In other words - another bucket shop.
     
  5. yigal

    yigal


    Execution on Currenex is not up to FXCM or any other Currenex provider. You'll get the same execution with any broker offering Currenex, say with http://www.capitalforex.com/ but for 25$ a million commission. Now compare that to what FXCM will charge you.
     
  6. If you want Currenex, use Currenex. Go to their website and contact their white label providers that don't "rig" the spread like FXCM. I used to be an IB for FXCM. Thank God I'm wiser than that now. They restrict certain trading behavior through the PropFX product. They are manipulating the prices in some way. This is possible through Currenex, but even more so through FXCM. I say look elsewhere.
     
  7. Currenex is only software. If you contact Currenex they won't be able to help you. Most whitelables on CX work exactly the same, how could a firm that doesn't make prices on the platfrom manipulate anything? I think you may be confused about how Currenex works.

    Trader/God
     
  8. Trader/God,

    "How could a firm that doesn't make prices on the platfrom manipulate anything?"

    Just look at how propfx does it. They add pips to the spread. It can be rigged. If you don't want to believe it, that's something else.
     
  9. With an ECN there are two ways to make money if you aren't making a market:
    1. An additional commission to the spread
    2. A widened spread

    Thats it.

    Its like saying that the spread is a "manipluation" of prices. How do you think its going to operate? I wish it was free trades as well but thats not ever going to be the case!

    I've heard to term used to describe how market makers run stops and limits but that doesn't happen on an ECN (ohh I'm sure the consipiracy theorists here believe that GS is running down your 100K EUR trade) but realistically they make plenty of money anyway.
     
  10. Trader/God,

    You are right,

    "With an ECN there are two ways to make money if you aren't making a market:
    1. An additional commission to the spread
    2. A widened spread"

    But this is the way for a "real ECN" to make money. Since forex is the wild, wild west of trading, a lot of crap happens anyway. It is difficult to police these brokers to make sure that they are not misbehaving. Maybe when forex becomes centralized we will have a better indication of what is improper behavior.

    For now, I'll side with the conspiracy theorists that you describe.

    Happy trading.
     
    #10     Oct 31, 2006