Same here. And no, I have not used it (yet). Even if they let us in, they would probably end up padding the spread/commission to compensate for the lack of trading volume. Might as well use MBT in that case. Since forex lends itself to long-term trading (weeks, months). I like to sometimes hold my positions and collect some positive swap. Having a broker pushing me to increase my trading frequency doesn't help... psychologically as well as practically. They also have strict entry regulations. So even if you have the cash, if you are the wrong type of entity, forget about it. Dukascopy is the only aggregate ECN I know of that also allows for viable longer term trading (swap is excellent). Also, the slippage control is great. Bank guarantees are also allowed for accounts 250,000 USD and greater. The liquidity providers are hotspot, currenex, lava, citi, dresnder, goldman sachs, (and a few others I forget). Your order is split up between these various providers making 400 mill orders possible on the majors with only minor slippage... not that I could/would put through such an order. All the best. scex
Hi cabletrader, Yes indeed. It was kind of dead on arrival. I could be that they would consider opening their doors to retail players, but if the liquidity isn't there to begin with, then retail traders would probably be better off sticking with their DDs. Plus they only offer about 10 pairs... not very generous, I'd say. Here is a post from Forex Factory about this issue, including an email from a fxmarketspace rep: http://www.forexfactory.com/showthread.php?t=8046&page=6 Gotta go now... asian session is starting up. Regards, scex
Thanks for the FF link, reading it I got this picture of an FXM'space rep with raised eyebrows and a wry evil grin, I'll read the rest of it later, interesting stuff. Hmm, definitely some food for thought and alternative options but I'd feel like a kind of poor relation trading with those brokers....marketmakers....firms, I'm a relatively medium sized fish in a little pond right now, the open seas seem just a little daunting in a wooden rowing boat with one oar, I don't want to end up as shark bait :eek: Enjoy the Asian (does anything actually move in that session?), I'm going to bed! (UK here) Best, Cable
Few hundred pip slip?? Only on an exotic or Yen cross (GBPJPY).......maybe. Don't trade news. Trade via an 'ecn' broker - MBtrading, Hotspot. Trade majors during new york or london and you'll be fine.
You nailed it. On one hand we are not seeking to open a 3 figure retail account, but on the other we certainly won't be pushing 100 mill orders thorough the interbank. As shaky as that boat may be, we seem to be both in it. The Asian session can offer some ranging opportunities on the AUD. We'll talk later.
This is not first time you mistyped my alias. Please do not act as 15 year old. The only valid point you provided during our last exchange was that in UK forex account have more protection than in US, where pretty much non is available. Futures accounts on the other hand enjoy much more protection. You did not provide a single valid point about advantages of trading spot vs futures, except for the usual one where you need to trade crosses. The other one I have heard is being able to trade micro lots. If you know how to trade currencies, 6 majors is more than enough to make $, and 6 majors have good liquidity on CME with 1 tick spread.
No, but I did. Here are others: Forget about scalping during the asian session on CME. Also, that 1 tick can become multiple ticks if you factor in slippage (same as in spot). I still think that having 16+ spot crosses vs 6 on futures is a plus point for spot. One good thing about futures seems to be the swap.
Same here, especially for times when you want to be less exposed to particular markets ie Europe or US in certain volatile geopolitical/fundamental conditions. The plusses of spot over futures outweigh the negatives in my opinion but I guess at the end of the day it's what people are comfortable with.
Short memory Redpuke, this has been done to death before, you always run off! Another plus of trading with a bucketshop which I've just thought of is 24/7 trading, I can adjust trades and orders even at the weekend which can be extremely useful ie G7 meetings, Saddam capture etc etc Have a great trading day all
Guys, make your point without the insults. If you don't agree with each other, then say so. But try to be somewhat civil, otherwise the thread degenerates into something useless for everyone. And since I can moderate the forex forums, I will. You wanna fight? Take it to another forum!