I like EUR.USD CAX caught my attention. For me, the $250K initiation fee may have to be raised through saving on profitable trades. I am considering Duka (demo open right now), because of the FIX API exposure and not having a time limit to hang on to a position. Heck, if it is my money, I don''t want to be restricted from buying or selling. The less time I am in the market, the less exposure I have. I want in an out for as much as the market will bear. When the momentum stalls, I want out. My money is not anyone else's money. Which leads me to the most important thing for me....stability of connection, bandwidth, and servers. I am C++ programmer in the R & D deparment for a very large American company for almost a decade. I downloaded most of what I need to write a software client communicating with duka and a software server communicating with my software client to support a potential team of neural network traders I have been dreaming about for a long time. The next step would be to have a net worth of $5M to access the root networks. I have been trading several demos. Although I know they are not actual stats, I have been netting about 10% per day. What are the rules of private incorporated pooling of money to trade forex in an organized fashion so we could take advantage of CAX and others on the way?
Email From John Cholakis: "Our standard commission rate on Hotspot FXR is $30 per 1,000,000 base currency units(bcu) transacted." They don't seem to be on the same page. G.
I'm paying at most 30/1MM bcu, not per USD amt. Of course, the volume that you do will give you a leg up to get some lower rates. Like most professional desks, they can be flexible on costs if you have the volume. Even IB gives you cost breaks if the volume is there. Yo just have to work with them. On webpage, explicitly says charge by units, not dollar volume: http://www.hotspotfx.com/openacct/faq/ Also, on following link, check item 1 in commisions and fees agreement: http://www.hotspotfx.com/openacct/liveapp/pdf_forms/Annex_C_Commissions_Fees.pdf
Well, it appears that the european and the american division handle commissions differently now, and the americans are a hell of a lot cheaper. p.s. Sry for off-topic
We finally went live on the CAX. Actually, we went live two weeks ago. Firing off our first real test trades with a totally systematic trader. We're also grey boxing another trader's system before complety black boxing it (full automation) and have a few discretionary guys kicking the tires in as well. Should have been here at least 3 months ago! Better late than never I guess.
Definitely worth the hassle. Much better then any other place we have traded at. We should be close to 1000 trades there already in around two weeks of test trading and we'll be running stats all throughout the next few months.
you dont necessary have to be ecp and still you use cax. http://www.vcapfx.com/aggregated-forex-solutions.asp