Tips for trading at ECN Currenex,Hotspotsfxi

cfets · Jan 24, 2007

Quote from 4X4Living:

well Picker

can u suggest the best companies uses currenex platform from your point of view

regards
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I dont want to suggest any one of them .

From currenex's web, you can see the list tier 1 and tier 2.
So far as I know , fxcmpro has tier 2 B model.
Refer the trading item , it's diff between each firm , it's an OTC market which you have to bargain with those guys.

*A variable is the feeling/move of current major selling side on the platform after SS buying Currenex

siki13 · Jan 25, 2007

Quote from whoknows?:

The Tier 1 PB's (UBS, BofA, Bear, Goldman, Deutsche, Barclays, etc) will all require large deposits to be your PB. At least the ones I know will want AT LEAST $5 million, but for the big names think $20 million or more.

The White Labels that are Tier 2 (a) are MAN, FC Stone, FIMAT, Capital Forex, PFG, and maybe more but I don't know.

FIMAT wants at least $3 million, FC Stone near $1 million.
I use PFG, who I am thrilled with, I must say. I have no affiliation, other than the fact that I use them for CX access. Liquidity is huge, typically $40 million a side in most currencies, even in off-hours. Speed is great. Service great. Prices are good, and spreads are typically 1 pip, even in AUD, CAD, and NZD.

Tier 2 (b) are FXCM, and maybe GFT but I am not sure. I tried FXCMPRO. That's all I will say here. Even GFT wants $1 million, otherwise they want you to use their Deal Station retail platform.

There is a new exception to the Tier 1 PB's however, and that is Barclay's Capital. I am talking with them now. Barclays is huge, and their typical PB relationship they want $20 million or more, but they would PB for currency only with $1 million, giving 30x buying power. That's pretty amazing considering the sheer size of them. I have been checking them out, and they are consistently showing $200 million on each side with half or 1 pip spreads in the majors. Again, I have no affiliation, it's just after talking, then meeting with them, I have never been so impressed.

I will update on the Barclays situation as I get more info, but for now I am very happy with PFG. I think they will open a CX currency account for $25 - 50,000. PM me if you want a contact or need more info.
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Very interesting ,please keep us updated

168 · Feb 10, 2007

for cx trading , fc stone only required 250k , not one million , so does the man.

dev · Feb 12, 2007

Man require USD100k, not 250.

168 · Feb 12, 2007

and what is the margin does man required ? and if the account is over 250k , what is the margin for that ?

dev · Feb 12, 2007

I believe they will let you trade 80:1 day, 40:1 overnight, minimum account USD100k.

Is that what you mean?

patrick_newB · Feb 12, 2007

Which tier does gain pro's offering fall in? 2b? Or is this not currenex at all?

cigarno · Jun 4, 2010

"PB will not take any position against clients but only charge commision per Round trading ."
How can you make sure that they do NOT trade against you?! All banks have trading desks and they all trade against their clients, that is what the trading desk is for.

cfets · Mar 2, 2011

Quote from Ldamiani:

The only example of "Tier 2 b" that I know is FXCMPRO. Is there any other?
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just wonder how is the trading at Fxcmpro , can we place the order between the best buy/sell ?
i heard fxcmpro use markup on spreads as revenue, so there is no way to let our clients's order directly shown on the book , or each client's order would be markup too ?