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MAREX Currenex average slippage 39 replies

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Attachments: 250 pips slippage on Currenex - ODL Securities
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250 pips slippage on Currenex - ODL Securities

I used a 'fill or kill' order with HotspotFX. It worked fantastic.
It was via their API. Not sure if you can do it via their platform.

Coder
Quoting fxdm1
Thanks FrankTheTank - you understand exactly what I am asking. I want to know whether or not a limit order could be slipped on Currenex. I don't care if the limit does not get filled, I just don't want it to get slipped!

No clear answer yet though!
FXDM,

It depends on who is offering the currenex platform as I stated before. Also, it truly depends on how you place the order. To answer your question, you can place a FOK order and IOC orders. However, the one you are looking for is the FOK. I have attached a couple of pictures for you if that helps.
Attached Image


Attached Image
Thanks fxtrader. I will be using Capital Forex Pro and the platform looks identical to the screen print you have posted.

So the way to go is to use a fill or kill limit order - do you have any experience of actually using these orders?

Thanks in advance.
Quoting fxdm1
Thanks fxtrader. I will be using Capital Forex Pro and the platform looks identical to the screen print you have posted.

So the way to go is to use a fill or kill limit order - do you have any experience of actually using these orders?

Thanks in advance.
I do not use pending orders so no and I have yet to find a broker that has a Currenex platform that I like. I have used Currenex a while ago but hated the brokers that offered it. I like the platform though. Have you looked at hotspot?
No I haven't looked at hotspot. The reason I am using Capital Forex is because they have bought out a spread betting currenex platform and as I am based in the UK any trading profits are tax free.

I agree that the platform is nice to use and quite user friendly.

Thanks for the info.
Quoting fxdm1
No I haven't looked at hotspot. The reason I am using Capital Forex is because they have bought out a spread betting currenex platform and as I am based in the UK any trading profits are tax free.

I agree that the platform is nice to use and quite user friendly.

Thanks for the info.
Did they aquire a company that had currenex or did they just buy a currenex platform? Does their Currenex platform allow you to trade anything besides FX? Do you do a lot of spreadbetting and CFD trading?
I am not sure how the company have set themselves up on currenex. It is just being set up at the moment so I am trying to find out more about them before funding any accounts.

As far as I am aware the platform just allows FX but I may be wrong.

I do a lot of spreadbetting FX so if it turns out that the broker is as it seems then I will definitely trade with them.
Quoting fxdm1
I am not sure how the company have set themselves up on currenex. It is just being set up at the moment so I am trying to find out more about them before funding any accounts.

As far as I am aware the platform just allows FX but I may be wrong.

I do a lot of spreadbetting FX so if it turns out that the broker is as it seems then I will definitely trade with them.
Correct me if I am wrong but my understanding (and I know very little) of spreadbetting is that you can set your wager to any amount you like. With FX can you only trade certain minimum amounts like mini lots or standard lots or can you trade as little as you like? I assume Spot FX just falls under the category of spreadbetting. I thought with spreadbetting you could bet on just about anything so I dont know how the breakdown works or if there is a breakdown.
It works like a normal currenex broker with minimum trade size of $200k. I believe they are somehow putting some sort of wrapper around the currenex prices but I do not know that much about it yet - still looking into it.
Quoting williamlang

On FXmarketspace orders are internally matched just like with futures

Hope things are clearer now
On FXmarketspace I don't know, but futures market are not internally matched!
money... it's a gas baby, can't you take it! venezia
Quoting fxdm1
Does anyone know whether or not if you place a say 30 pip limit buy with Currenex around a news event if the limit is the worst price you could be filled at, or does the limit turn into a market order so you could potentially get a 250 pip loss?

Hi fxdm, if you use limit orders on currenex you get filled until your limit price
not above.that means you can use limit with partial fills without any worrys.

cheers

Frank
Similar thing just happened to me. Trade had a stop in place which executed at a 122 pip difference ( a price the market had not touched ) from the stop chosen. Slippage I accept as a fact of life, what was curious is this happened at 6 am GMT on a monday morning in EUR/CHF....broker did not give anything more than a fudged answer when this was raised with them. I think I've been royally screwed myself. Would be interested to know what more experienced members think.
People often think that because a broker is giving you an ECN feed that the broker themselves is not a retail market maker styled broker.

A slippage of that kind suggests a massive liquidity issue on behalf of ODL back in 2007.... ....this suggests that they were not ECN. Why? Because an ECN has access to the funds of all the banks that are connected plus their traders, therefore a large amount of money on offer. While a retail market maker only has access to the traders that they hold the trading funds for. ODL being small back then, probably only had a few traders, which was obviously not enough to provide genuine liquidity.

ECN fills prices when someone else or an institution makes an offer at that price, which is why ECN brokers really can't guarantee exact fills. While with retail market makers because they offer instant execution they fill every order to the closest they can offer that price. In this particular case, this person's fill was 250 pips beyond their offer.

This is the exact reason why the USA have brought in laws for market maker brokers, and that is they must have a minimum of $20 million in their US accounts to help provide genuine liquidity for the clients. However, this is now silly because platforms now talk between multiple brokerage firms, and consequently an order put in at Alpari US might be filled by some brokerage in the Middle East.
This is how they cheat on you....

https://www.financemagnates.com/inst...ed-35m-us-sec/
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