A second look provided the following additional info: Pretty wide spreads given the liquidity they provide. About 2x-3x the IB spread at normalized liquidity. Also, overall liquidity is pretty thin. EUR volume, traded, in NYC 200mln? That is pretty much nothing. Looks like a pretty decent high tech startup that lacks good sales and marketers.
I do not think they are small high-volume , I only addressed to institutional . I believe that the safamach is predetermined later time for exchange of large volumes with certain prices can anyone confirm? Monthly Statistics - March 2016 http://www.hotspotfx.com/pdfs/volume/2016 March Hotspot Monthly Statistics.pdf for the moment I am using professional LMAX . I must say that there are ridiculous volumes on the book , I would like to see the volumes of institutional LMAX . But I can not find them Do any of you use institutional LMAX ? I recently found these : https://www.baxter-fx.com . virtually giving access to all major ecn for only $ 50k
Yes I checked into it, the daily match is for larger volume trades in an auction like system. So far none of the more professional firms came even close to the total cost of execution one gets with IB, in terms of currency trading. Only caveat with IB is that one gets setup on a liquidity pool with wider spreads if one wants to trade larger volume (>5mln), but as long as order size is <5mln or the order is broken up into chunks, each <5mln it is hard to beat IB.
I do not use IB . I saw their price structure and do not understand . how much they charge for 1 lot ( 100k ) ? Lmax is practically bankrupt . I just contacted them and no institution wants to work with them .They entered aggressively in the markets. Imposing itself as MTF . They had thought to exceed competitors OTC dominates Here some prices for those who want to work with major ecn
also the collaboration between reuters and cme had failed to create a centralized engine https://en.wikipedia.org/wiki/Fxmarketspace
The fee charged by IB is 100% transparent which I can't say about Baxter. So how much does it cost me to trade 1mln eur usd? 20 usd? As mentioned I found most of the ecns even that Baxter offers access to exhibit way wider spreads than what IB offers, meaning, cost of execution in the end is still lower via IB
I contacted Baxter and never heard back. If their post sales customer service is as bad as their pre sales I must wonder...
Was told their demo platform is down. To be very honest this does not bestow much trust in the stability of their technology stack. Demo platforms generally pose much less stringent technology requirements on a platform. Can anyone share their experience with Baxter? I am interested but so far the experience leaves much to be desired...