donperry, we never try to split the spread. this decreases your chances of being filled in a very fast market - the only time we trade.
banks cant trade with each other on currenex. Not sure about the others but cant recall seeing choice on lava or hotspot.
That's what I thought because HS says they have full limit matching, so they can't be choice. It could be hybrid - only non bank limits match, but if they need banks there's hardly enough action to get paid across.
There could be choice if hotspot allow you to refuse partial fills but cant remember as I always allow them on all platforms.
so after reading thru most of this post--i gather currenex is the way to go: so the question is--with which broker? which is the best broker to go with---enough liquidity? enough bank tiers etc scalping is not a problem with these brokers--right??
yeah but how about the fills... see, i have been dual-spreading hundreds of "small" orders on both platforms, why is it that the overwhelming majority of my fills come from HSFXi and i have to cancel my Currenex orders? how many times have i seen my limit touched on Currenex and i don't actually get a fill? (i have 2 accesses, FXCMPro (they try to add 1 pip on exit), and ODL/RBS ("true" mkt spread), so i can compare)... TOO often, that's how... too many stale orders on Currenex, and/or abuse of "last look" option by liquidity providers... back to sleep mode
One of FX broker provided interbank quote and stated to be pure agent of principal -MBT but this regulary shut down quote . (or stated about techhical error) If scalping possible ,than by future fx and only by pure agent -as example rmltrading . This is controlled by SEC and funds to end of the day can be switched from CFTC to SEC account. Not clear with rml clearing house -Penson . Would this accept this tactic ? Your respectfully
btw, i have just updated my profile... the ink is not dry yet on my IA deal with HSFXi but... just thought i'd make that clear... cheers