It is all marketing hype.....Currenex is just a software that any little time broker can get.They even advertise it just get their white-lable and stick your Co.'s name on it and you are in biz. Trading on currenx does not mean you are trading with the big boys.
It has been promoted all over the web that Currenex, UNLIKE other platforms, allows you to get connected to the major banks where the real trading is going on. while in fact being connected to Currenex does Not mean that at all
It depends on alot of things(how youre trade/connection mgmt infrastructure is setup with your broker) http://www.articlesbase.com/currency-trading-articles/understanding-currenex-1228757.html
it does not matter. I believe that ECN,STP is just marketing hype, there is NO way for you to know who is on the other side of your trade. Plus the SPOT fx market is way too much fragmented that makes wonder where these quotes come from?! When you register with a broker to trade you are NOT trading in the WHOLE mrkt you are just trading with people who also registered at that same broker.
Weeeeeeelllll, yes and no. Yes you only execute against the liquidity in your HUB. No, you do know who you execute against when you look at your blotter. I.E. ABMAM, RBS, PFGB, etc. So with the brokers I use, I see the names. The Ever Informative VIPER
Why does it matter where the quotes come from? If you're worried that your broker has a conflict of interest, why not compare the quotes from your broker to those of the CME group? If there's any measurable difference after accounting for the spread and any commissions, couldn't you arbitrage the difference?
NO....You can NOT arbitrage the difference between one market and the other.....Neither can you arbitrage the difference between one broker and another? Meaning you can not be long euro/$ at say IB and short euro/$ at dbfx and use your short position at dbfx to close your long position at IB. And the same is true of the spot Vs. Futures market.
That is irrelevant, since the entire concept of arbitrage revolves around the fact that a price discrepancy cannot exist for a long time. For example, let's say Broker ABC has EUR/USD at 1.2000/1.2001 while the CME has EUR/USD at 1.2020/1.2021. If such a gap does exist for an extended period of time, everyone (including hedge funds, corporations looking to hedge, etc...) will open an account and buy EUR/USD and thank the broker for the free discount.
What is irrelevant??!! This is the WHOLE point.........!! Arbitrage, do I need to remind you, is taking advantage of price difference of the same product in two different markets in order to make a profit.........Now back to your example, buy the euro for 1.2001$ then what?! where do you sell the euro for more than 1.2001$ to profit?! Remember FX futures contracts are settled daily at volume-weighted average price traded at CME....... so you can not sell the euros there..........No what to do with your euro?! Arbitrage, eh