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FXLQ

  • #1
  • First Post: Aug 31, 2007 2:07pm Aug 31, 2007 2:07pm
FXLQ will let you trade with them directly w/ MT4. Who has any experience w/ them? (directly or as a provider for an IB)

I tried to find out what ECNs they use for their liquidity, but could not get an answer.
  • #2
  • Sep 1, 2007 9:32am Sep 1, 2007 9:32am
Quoting tdion
FXLQ will let you trade with them directly w/ MT4. Who has any experience w/ them? (directly or as a provider for an IB)

I tried to find out what ECNs they use for their liquidity, but could not get an answer.
im using there mt-4 ecn demo thru fastbroker witch is an ib for fxlq spreads on the pound is 2 pips the comm is $10 round turn 100k trade. you will get better service thru one of there ib, fxlq is hard to deal with.
If I Go Broke Trying Then I Will die happy.
  • #3
  • Edited 4:57pm Sep 3, 2007 2:26pm | Edited 4:57pm
If you are a FF member trading w/ FXLQ, please say "hello" on this thread. Moe, how do you like them so far?

At this time, FXLQ is like a black box sitting out in California. (very secretive) If anyone can offer information on the ECNs they use (or their liquidity infrastructure), please inform us.

-Tom


FXLQ has $36m in operating capital, and is registered w/ the NFA.
  • #4
  • Edited 3:42pm Sep 3, 2007 3:12pm | Edited 3:42pm
Quoting tdion
If you are a FF member trading w/ FXLQ, please say "hello" on this thread. Moe, how do you like them so far?

At this time, FXLQ is like a black box sitting out in California. (very secretive) If anyone can offer information on the ECNs they use (or their liquidity infrastructure), please inform us.

-Tom


FXLQ has $36m in operating capital, and is registered w/ the NFA.
You said the key word secretive, i don't think they like dealing with customers they prefer if you go thru one of there ib's, from what i heard it takes a long time for them to give you your money once you make a withdrawl, if using there ib it takes less, you can get there mt-4 ecn demo from fastbroker.
If I Go Broke Trying Then I Will die happy.
  • #5
  • Sep 3, 2007 4:56pm Sep 3, 2007 4:56pm
Moe you hit the nail on the head. I talked to Robert Gray, president of FXLQ, and it was like pulling teeth to get him to admit that you can trade with FXLQ directly.

I was like "Why do I want to use an IB and introduce an extra company into my trades when I can trade w/ you directly? Just makes it more complicated."

Mr. Gray said he would call me back last week, but never did.
  • #6
  • Sep 8, 2007 9:59pm Sep 8, 2007 9:59pm
I am resurrecting this thread again. The FastbrokersFX interface to FXLQ could give us a nice alternative to EFX group. Now we only need to find out what ECNs are being used.

Please, if you have ANY INFORMATION REGARDING FXLQ that is not already posted on this thread, let us know.

Thanks.
  • #7
  • Sep 15, 2007 8:08pm Sep 15, 2007 8:08pm
I will not let this thread die.
  • #8
  • Sep 16, 2007 5:38am Sep 16, 2007 5:38am
Quoting tdion
I will not let this thread die.
i fell you man, by the way interbankfx uses them as one of there lp provider's.
If I Go Broke Trying Then I Will die happy.
  • #9
  • Sep 16, 2007 11:54am Sep 16, 2007 11:54am
Be careful with them. Their feed is manufactured in-house. It is not a true multi-bank feed despite what they say. I'll leave it at that. Be careful.

"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves."
  • #10
  • Sep 16, 2007 5:32pm Sep 16, 2007 5:32pm
Quoting dominicanosrus
Be careful with them. Their feed is manufactured in-house. It is not a true multi-bank feed despite what they say. I'll leave it at that. Be careful.

"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves."
all mm feeds or in house, they do have a ecn feed that i got from fastbroker that seems pretty good.
If I Go Broke Trying Then I Will die happy.
  • #11
  • Sep 16, 2007 7:48pm Sep 16, 2007 7:48pm
FXLQ or IBFX? What's your source for this accusation?

Thanks.

Quoting dominicanosrus
Be careful with them. Their feed is manufactured in-house. It is not a true multi-bank feed despite what they say. I'll leave it at that. Be careful.

"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves."
  • #12
  • Sep 16, 2007 8:04pm Sep 16, 2007 8:04pm
Quoting Moe
all mm feeds or in house, they do have a ecn feed that i got from fastbroker that seems pretty good.
I know that all mm feeds are in house. We have worked with many traders and are always looking for more. In doing so, we have traded with many firms, including institutional ones. What FXLQ claims is their "ECN" feed is the one I'm talking about. I'm not talking about their IBFX stuff. That's obviously a fixed spread, mm feed; but their floating rate, "ECN" fee is also rigged. They slow it down, widen spreads, etc., etc. Spreads widen too on Currenex hubs and other institutional hubs, but not as artificially as FXLQ.

Source of accusation? We have traded with them in the past and know many professional traders who have as well (some of these traders now work with us). Believe me, I'm not making this up; but don't believe it if you don't want to.

If you are not going to scalp or trade news with them though, you are fine. It's only when you try the "stuff" they hate that you will face their wrath (gosh, this sounded a bit too dramatic ).
  • #13
  • Sep 16, 2007 9:55pm Sep 16, 2007 9:55pm
Thanks.

Any idea who their liquidity providers are? (Currenex, Lava, FXAll, etc...)

Also, do you know of any other MT4 brokers w/ an ECN passthrough? ATCBrokers is supposed to come up with something by October... we'll see.

Any other information you can provide is appreciated.

-Tom

Quoting dominicanosrus
I know that all mm feeds are in house. We have worked with many traders and are always looking for more. In doing so, we have traded with many firms, including institutional ones. What FXLQ claims is their "ECN" feed is the one I'm talking about. I'm not talking about their IBFX stuff. That's obviously a fixed spread, mm feed; but their floating rate, "ECN" fee is also rigged. They slow it down, widen spreads, etc., etc. Spreads widen too on Currenex hubs and other institutional hubs, but not as artificially as FXLQ.

Source of accusation? We have traded with them in the past and know many professional traders who have as well (some of these traders now work with us). Believe me, I'm not making this up; but don't believe it if you don't want to.

If you are not going to scalp or trade news with them though, you are fine. It's only when you try the "stuff" they hate that you will face their wrath (gosh, this sounded a bit too dramatic ).
  • #14
  • Sep 16, 2007 11:23pm Sep 16, 2007 11:23pm
Quoting dominicanosrus
I know that all mm feeds are in house. We have worked with many traders and are always looking for more. In doing so, we have traded with many firms, including institutional ones. What FXLQ claims is their "ECN" feed is the one I'm talking about. I'm not talking about their IBFX stuff. That's obviously a fixed spread, mm feed; but their floating rate, "ECN" fee is also rigged. They slow it down, widen spreads, etc., etc. Spreads widen too on Currenex hubs and other institutional hubs, but not as artificially as FXLQ.

Source of accusation? We have traded with them in the past and know many professional traders who have as well (some of these traders now work with us). Believe me, I'm not making this up; but don't believe it if you don't want to.

If you are not going to scalp or trade news with them though, you are fine. It's only when you try the "stuff" they hate that you will face their wrath (gosh, this sounded a bit too dramatic ).
question, when you was trading with them did you go straight thru them or one of there ib. there spreads on the pound was 99% 2 pips plus a $10 round turn on 100k but there spreads seems like it was control during news.
If I Go Broke Trying Then I Will die happy.
  • #15
  • Sep 16, 2007 11:34pm Sep 16, 2007 11:34pm
dominicanosrus

Take it a step further.... how many full lots were you pushing with your biggest orders? What kind of slippage did you experience?

Finally, how much leverage were they giving you?

THanks dude.
  • #16
  • Sep 17, 2007 7:59am Sep 17, 2007 7:59am
Quoting tdion
Thanks.

Any idea who their liquidity providers are? (Currenex, Lava, FXAll, etc...)

Also, do you know of any other MT4 brokers w/ an ECN passthrough? ATCBrokers is supposed to come up with something by October... we'll see.

Any other information you can provide is appreciated.

-Tom
No idea who their liquidity providers are and I wouldn't believe it if they told me.

I don't know what other MT4 brokers are using an ECN pass-through model. ATC has been working on it forever. I doubt it'll be ready in October. MT4 just wasn't designed for this sort of stuff, so it's always problematic on implementation.

Moe, when we were trading with them, we had an IB relationship with them directly. We were trading there with one of the money managers we had funded at the time. Spreads can widen during significant news anywhere; but not in such an obvious way as it happens at FXLQ. Around 6 months after we stopped working with them, we tried them again through an IB, and the spread manipulation was even more sophisticated.

tdion, our biggest order was around 30 lots; but we were experiencing "funky stuff" even with small orders. They were giving us 100 to 1 leverage I believe, even though we never really used more than about 5 to 1. We never let our traders use high leverage; neither do the institutions who fund them.
  • #17
  • Oct 17, 2007 10:34pm Oct 17, 2007 10:34pm
Time to resurrect this thread again....
  • #18
  • Nov 15, 2007 4:13am Nov 15, 2007 4:13am
Quoting tdion
Time to resurrect this thread again....
and again

any news about some good MT4 Currenex Broker?
  • #19
  • Nov 15, 2007 12:50pm Nov 15, 2007 12:50pm
What I know now is that their white label FastBrokers offers a professional interbank feed.....

A rather slick marketing tool in that FXLQ has a dealing desk, but transmits floating spreads into your MT4, giving it the appearance that it is a true STP.
  • #20
  • Nov 15, 2007 4:39pm Nov 15, 2007 4:39pm
Quoting tdion
What I know now is that their white label FastBrokers offers a professional interbank feed.....

A rather slick marketing tool in that FXLQ has a dealing desk, but transmits floating spreads into your MT4, giving it the appearance that it is a true STP.
so a scalping of 5/6 pips is impossible there too?
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