anybody trading via http://propfx.com (part of FXCM)? they seem to invite scalpers etc? or is this just a way for fxcm to easily identify scalpers and put them on manual exec?
RFLMAO Bucket ehhh.... FX shops are unregulated. Trade futures instead. edit: or use a reputable broker like IB (but even then you have no garantee that there are no games being played. At least you'll have an independent intermediate party that will check the timeliness of your executions) Sherlock
interesting. i was reading the original (translated text) of sun tzu's 'the art of war' yesterday, and drawing parallels to the craft/art of trading. i am looking at it from the perspective of a large fund or bank (nation) rather than the self directed trader (mercenary) the second chapter is entitled 'waging war'. it details the issues of financing a war (trading/war campaign) and the depletion of resources (capital/weapons), and the requirement to keep resources (trading platform, connections etc/weapons sharp) in good condition etc. more to the point, it considers how when large amount of troops gather in a geographical location, prices will rise as the local merchants up their prices in response to the increased demand for their produce. this should be taken into consideration by the general when planning and financing his campaign. this is related to your post. in your post you are seeing this. the local merchants (bucket shop) are changing the rules and pricing policies in response to the increased amount of troops/traders in this birdhouse that is known as retail fx. good book to draw parallels from, and see how this industry works.
Would you say that trading on Currenex will solve of these problem since you are dealing directly with multiple MM instead of one?
That promise of unbiased, impartial dealing, by design, is the primary appeal, the siren song of Currenex, HotspotFX, COESfx, IB... Within that business model, one still needs to take a hard look at the implementation details. Devil's in the details... Here's one checklist; choose what's important to you. - company background, reputation, regulatory history, financials, client base / assets growth - commissions; don't underestimate their monthly bite (depending on your trading style, frequency, scaling in and/or out) - min account size - min trading size - max trading size - currency pairs offered - normal spreads - fast market and near-news spreads (if applicable to one's trading style) - stop orders handling - platform reliability - platform features - speed / ease of viewing, submitting, modifying and cancelling orders - charting - API (if any), if needed - hedging; linked accounts - leverage / margin - funds deposit and withdrawal - interest (at least one of the above doesn't pay any) - trading hours - emergency position closing via phone, 24/6. If you are managing OPM, add: - multi-client trade entry / allocation - flexibility of reporting and transaction history - fees management.
IF I told you you can trade on Currenex with a 2 pip spread on ALL pairs and no commison with a min account size of 25k what would you say about that (you cant say Currenex is a bucket shop)
Yes, nothing has changed. Bucketshops are happy to take your money when you loose but get sore when you win. Sherlock
I'd doubt the 2 pip spread... 25k even more... I'd like to be proven wrong though. Hotspot.. DB... EBS... have MUCH wider spreads on average and MUCH higher min cap reqs. Have'nt looked at Currenex though.