Title says it. If you do please answer these questions. Are you Based in US? What broker do you go though? Minimum account size? Spreads? Liquidity on orders over 10MM? How well do they mimic actual EBS quotes? (this is why I asked spreads) If you use them your spreads should be 1 on euro, 2 on yen, 2 on pound, 2 on franc from london through 1 pm nyc time. (Standard mimimum size on EBS is 1MM.) If they aren't, then the are increasing the spread. FCStone and Aarontrade offer Currenex, FCstone offers EBS. FCstone is a solid company, Aarontrade is backed by Archer Daniels Midlan-they are huge. Anyone with either of these?
IB 's dealing quotes are just about as tight or tighter as those you mentioned by the way ... not sure on max size though
Please feel free to PM me as I understand many are cautious about certain things. Any feedback is appreciated. As for IB, tried it, not satisfied, and want more currencies. A great product I think, almost up to par. But I don't want this to turn into another one of those threads, please if you have info on any of the 4 brokers listed chime in otherwise please don't post, cheers.
Could anybody explain EBS...UBS....Currenex...FXall Which one of these are the best? Can a speculator ever get to trade with Citibank, B of A..etc directly?
Don't worry really. In a year, FX marketspace should be more than adequate for retail. Participating banks and prime brokers already signed up and beta testing include: AIG Financial Products Corp., ABN AMRO, Barclays Capital Prime Services, Citigroup, Credit Suisse, Fimat, HSBC, JPMorgan, Merrill Lynch, Prudential Financial/Bache Financial, RBS, Societe Generale Corporate & Investment Banking and UBS. http://www.cme.com/about/press/cn/06-101FXMarketSpaceBetaPressRelease19291.html Reuters dealbook will become a part of FX Marketspace eventually. But of the four you listed, deepest liquidity via the most participants from highest to lowest goes as follows: 1. EBS 2. Reuters. 3. FXall 4. Currenex. Anyone correct me if I'm wrong.
This is not open to Retail traders...I thought it was institutional only. Are there plans to take it retail eventually? where did you get that info? This is hilarious, if the DOM will be filled up with Pikers.
I have made a comparison of spreads and liquidity between IBidealpro,Currenex (Aarontrade) and Dukascopy,when I have made the calculations I will put them here.
Latest news is that IB will offer direct access to customers sometime next year as reported in Futures magazine. Also, there was minutes to a press conference which confirmed it. I posted it in one of these FX threads last month. I'll look for it later. But even without all that, the CME is not known to do something which excludes retail participants. If you think about it, GLOBEX is not a retail patform but you have access to it via a retail brokerage. You could have direct access to GLOBEX using a front end like TT. But it's generally not cost effective to do so unless you're doing massive volume. So it will be with FX marketspace. In fact, I believe IB will jetisson their IDealpro in favor of FXMarketspace. It's cost effective for them to do so. I foresee many brokers who don't offer FX currently, will when FX marketspace is established. Anyway, enough FXmarketspace talk and IB talk in this thread. Gotta respect the thread starter's wishes. I just thought I'd plug FX marketspace as a possible future alternatve to prime broker platforms.
We use Bloomberg and have all my trades automated. We're experimenting with EBS Spot Ai and waiting for the Global launch of Reuter/CME Currency project. (Hopefully next year) Not for retail.
I don't think you'll get access to the main EBS platform or Reuters as they're dedicated to the interbank market. From what little I know EBS Prime (which you can get access to) doesn't have greater liquidity than the other main ECNs. FXall is not anonymous which may or may not be an issue.