Currenex for Retail Clients...
As most of you are aware, Currenex is the standard platform for institutional level traders. Currenex offers fast and fair execution and institutional pricing -- but is only available to those willing to put up a 6-figure minimum account.
A prime broker has come up with a new platform that features the same execution and spreads, but available to retail clients with a minimum account size of $2,500 USD.
This new platform is called Viking Trader and is offered by a top tier Currenex prime broker that is extremely well-capitalized.
A huge advantage (besides the inst. spreads & funding requirement) is the ability to trade through the charts and receive live streaming news, which many platforms do not allow.
Viking is available now to those who know how to obtain it, and will be widely available in the upcoming months.
I know that I'm look forward to this new platform, feel free to PM me for more info!
Excellent post...thanks for sharing
Have you seen this new platform yet? Or even heard of it?
It can very well revolutionize Forex on the retail level, and I think that just about any active trader on this forum can benefit from its arrival.
If there is any discrepancy as to whether or not my post abides by the rules, by all means, inform me so I can make changes.
Hmmm, the last prime broker I traded Currenex on had a minimum deal size of $500k. Will the Currenex hubs begin supporting mini-lots?
In any event, I certainly support more ECN options for retail traders!
The answer is Yes, you will be able to trade mini-lots on this platform.
I am in 100% agreement with you that the retail traders do not have enough true ECN options available. Viking Trader looks as though it has potential to be a safe-haven for those looking for regulated ECN's.
I see no harm in posting the link for the benefit of everyone.
Is this Viking Trader available now or something that will be coming out soon?
DId a google search and couldn't find it - must be pretty new -
did run across a few references pointing to Valhalla -LOL
Hope thats not related to this...
I guess they haven't released it yet. I just hope it doesn't become a >1-year work-in-progress like ATC's claim to have Currenex running through MT4.
Screen shots of Viking Trader
Good Morning to All,
I've attached a few screen shots of Viking Trader for everyone here.
We are beta testing this platform for functionality only so please do not take note of the spreads, which of course will be institutional on live accounts.
Due to non-disclosure agreements, we are unable to disclose which prime broker is offering Viking Trader at this time, but demo accounts will be available as soon as February 1st, 2008, and live accounts are expected to be available by mid February.
The platform has multiple layouts in a very user-friendly system. One click trading can be enabled or disabled as wished and trades are available for download to keep records.
Trading through the charts is simple, and the tools are laid out conveniently above the chart. As shown in one of the screen shots, you are not limited as to what pairs you'd like to trade -- there is a slide out menu for all pairs. There is also a slide out tab on the right for an economic calender.
Also, traders will have the capability to trade mini-lots and program their strategies into an API.
If you would like to receive a demo account in the next few weeks, please email me your contact information and I will be sure to get you one when I have the green light (looks to be Feb. 1).
looks great, thank you for info
Is this going to be an ECN type broker? If so, what are the commissions going to be?
How do they deal with mini lots ? How can they send it to the market when standard lot are the only size know in the interbank market ?
I suppose they keep them in house.
For example on USD/JPY:
MBTrading demands for an 100.000 unit order a Round-Turn commission of 10$.
That is very expensive!!
Hopefully these guys can match Dukascopy and IB's rates of $18-20 per million.
Waiting forward for the commission information.
Since BostonForex referred to the company as a "market maker" I'm getting the impression this is just another shop looking to grab a piece of the retail FX market.
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