I used efx a while back and was shocked at the prices I would get filled at. They were almost always a few pips off what was on the screen and to make matter worse ... the quotes would get stuck and freeze at the most important times of the day. nless that gets sorted out (and the crazy commision) I fail to see how anyone woudl choose mbt over ib
i must add though that the api is free and none of this kak socket api that ib has so a big thumbs up in that dept. Now just sort out those frozen prices and more accurate quotes!
I'm not familiar with this and I have had very positive responses from all regarding the quotes and executions. However, there have been a few random times where a bank has had a problem where their quotes did not refresh. When this happens we pull that particular bank out of the wheel but this is more of an anomaly. Please feel free to private msg me the details and I would be happy to look into this for you. Regards, Steve
please note that this was about 12 months ago so the issue might have been resolved. One thing that I might mention is the appearance of a poor release system for upgrades and changes. I'd first like to point out that ib are pretty kak with this as well with their constnat release of forced upgrades that don't always work and non backward-compatible api. But back to the point, there was a time about 6-12 months ago when I believe you were adding another liquidity provider whihc seemed to screw up all the quotes. When I asked your guys what the problem was ... they said they added bank thinking it would work without a glitch and when things went wrong it took at least a day to sort out. Coudln't you have tested this out in a dev environment first?
sccz97, That being quite a ways back I am not sure what happened. We most definitely test before we put anything into production so it is hard to speculate what happened. I can tell you we have come a long way in the development and progression of forex in the last 12 months. Candidly, we have been getting such positive feedback that I am confident to say I think you would be impressed with the entire system today. I also want to thank you for the input and feedback. Much appreciated. Regards, Steve
Can you explain to me how it is that with no deal desk clients can trade in as little as 10,000 units at a time? As an ex bank dealer I know full well that no bank wants that kind of crap on their books.
Very good, Ok I am going to open a small account to try it out. I have heard some bad things last year about 'sticking' quotes but as you say it is much improved it is worth a shot.