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Prime of Prime Broker

  • Post #1
  • Quote
  • First Post: Edited Jan 15, 2016 2:17pm Feb 9, 2015 11:58am | Edited Jan 15, 2016 2:17pm
So obviously a new hit, but nothing different except for that fact that you can choose third party software providers.

Props to Tradersorrow I have complied a list of prime of primes for all of you and I will try to provide my personal feedback with them.

1. ABN AMRO

High minimum deposit and high monthly minimum fee. Minimum is 1.5 million.

2. Saxo Markets

Good set up, price per million could be punchy. Could cross margin with CDF and futures, also has FX Options.

3. ADS Securities

Doesn't actually have prime of prime so to speak but provides Orex platform. Decent firm decent technology.

4. CFH Clearing

Good for Margin FX trading only

5. INTL FCstone

Stiff attitude, impossible to open an account, eFX not very remarkable, focuses on commodities instead.

5. Sucden Financial

Run by Ex FxPro guys, basically a good firm

6. JFD Prime

No idea

7. AxiPrime/FIXI

Good firm, not sure how they perform after the purchase from AXI, ran by nice people with a lot of good experience. Daniel Beale who runs Axi is a seasoned staff who built the best platforms back at LCG.

8. AdvancedMarketsFX

No idea

9. Pepperstone

No idea

10 IcMarkets

No idea

11 EVFX

They are currently taking time to figure out what they want to do, they lost their prime broker recently.

12 CapMarFx

Good for pure margin FX trading, no options

13 ETX Capital Group

No idea

14 RJ O'Brien

Absolutely stupid commission model, wanted to charge 50 Dollars per million, wouldn't bother.

15 Dukascopy

No Idea

16 Invast

Good product, good relationships good technology worth a shot

17 Baxter FX

No Idea

18 Gem FX

No Idea

19 FCI Markets

No Idea

20 FXCM

No Idea

21 Gain Capital

Good firm, Daniel Beale who's currently at Axi used to run it, it no longer offers Currenex and will only offer Gain GTX which has a 100 k Minimum deposit.

22 PriceMarkets
Basically Velocity Trade, ran by nice people but quite incompetent, if you want to execute only through a platform that is fine, but anything related to options or requires manual quoting they are not very good at it.

23 TopFX

No Idea

24 GlobalFutures

No Idea

25 IG Markets/Accendo Markets

No Idea

26 EuroPacificBank

No Idea

27 Oanda Institutional

No Idea

28 DivisaFX

No Idea

29 VarengoldBankFX

No Idea

30 SFX Markets...

No Idea

31 Mayzus...

No Idea

32 HantecFx...

No Idea

33 FxPro...

Traditional MT4 Prime of Prime so not worth the time
Quoting plotinus82
So obviously a new hit, but nothing different except for that fact that you can choose third party software providers. What's a good one now? Saw Baxter-FX, seems dubious though. Looking to use one, would be good if there could be recommendations. No MT4 or the usual crap though. Just too risky.
Hotspot currenex flex trade integral ebs are some you can choose from
Quoting lasty
{quote} Hotspot currenex flex trade integral ebs are some you can choose from
These are not brokers but platforms. You need a broker to access them.
http://www.gcitrading.com
Forex is a losers game.
Quoting trader121
http://www.gcitrading.com
Those look dodgy... No regulation, and the topic is Prime of Prime, not bucket shops.
Quoting FxTyran
{quote} Those look dodgy... No regulation, and the topic is Prime of Prime, not bucket shops.
lol that looks dodgy ad F*ck

Baxter-FX is an example of PoP, but the name is just lolz.
Quoting plotinus82
{quote} lol that looks dodgy ad F*ck Baxter-FX is an example of PoP, but the name is just lolz.
The name plotinus...plotinus is among my favourite greek philosophers.

If you want to trade via prime of prime. You could try lcgfx.com, saxobank institutional and amifx.com. All is good, baxter too and etc.
Quoting Supertrader9
{quote} The name plotinus...plotinus is among my favourite greek philosophers. If you want to trade via prime of prime. You could try lcgfx.com, saxobank institutional and amifx.com. All is good, baxter too and etc.
You know your stuff well.

LCG has shut it down, I use them as LP.
Quoting lasty
{quote} Hotspot currenex flex trade integral ebs are some you can choose from
I believe Axiprime will be releasing these soon.
www.fixi.com requires a 100k minimum deposit. The last one in UK to provide a Prime of Prime service for retail.
Quoting MaximeCau
www.fixi.com requires a 100k minimum deposit. The last one in UK to provide a Prime of Prime service for retail.
https://pricemarkets.com/
Quoting shrike
{quote} https://pricemarkets.com/
They require 100X 1 million USD per month for their PB account. That is not retail...
Quoting MaximeCau
{quote} They require 100X 1 million USD per month for their PB account. That is not retail...
On the website they say 25K deposit and volume breaks for commission. $30/M if you do less than 10m in volume per month.

Also, i dont really see whats so great about Currenex or Hotspot. Certainly not bad platforms, but IB or Lmax do basically the same thing and you only need 10k for those.
Quoting shrike
{quote} On the website they say 25K deposit and volume breaks for commission. $30/M if you do less than 10m in volume per month. Also, i dont really see whats so great about Currenex or Hotspot. Certainly not bad platforms, but IB or Lmax do basically the same thing and you only need 10k for those.
Yes they require that for opening the account but their average volume is 100M a month... How do you manage 100M with 25k deposit ?

LMAX has bad results financially...

IB platform is not very good for trading and maximum order size are quite low : 5 million euros while Dukascopy allows 200M in one click, no maximum trade size. Same for Currenex and Hotspot... So it is better for institutionnal accounts.
Where are you getting your 100m from. Nothing on the website about this.
  • Post #16
  • Quote
  • Edited 5:39pm Feb 12, 2015 5:23pm | Edited 5:39pm
Quoting shrike
Where are you getting your 100m from. Nothing on the website about this.
I've asked them .

+ they say : The Prime Brokerage account is forInstitutions, hedge funds and high-volume professional traders trading currency fordelivery with a Prime Broker.

+ look at commissions : starts at less than 10 millions to 1 yard.
Yes, implying that there is a rate for monthly volume for less than 10M. But i am not interested either way to fork over money to a firm i know nothing about.
Quoting shrike
Yes, implying that there is a rate for monthly volume for less than 10M. But i am not interested either way to fork over money to a firm i know nothing about.
They were a LCG's white label until last year and now they belong to Velocitytrade, australian broker.
Quoting MaximeCau
{quote} They were a LCG's white label until last year and now they belong to Velocitytrade, australian broker.
You know your stuff well, so what's the best PoP broker in your opinion?

Let's be friends and chat, PM me
  • Post #20
  • Quote
  • Edited 6:58pm Feb 13, 2015 6:45pm | Edited 6:58pm
Quoting plotinus82
{quote} You know your stuff well, so what's the best PoP broker in your opinion? Let's be friends and chat, PM me
That's very complicated at the moment...

The way to know is to study Currenex White Label... But all of them don't provide an access to non institutionnal traders....
http://www.currenex.com/clients/brokers/

I personnaly want to stay in Europe, segregated account. The question is not which one is the best but which one can we choose ? ...

In UK you have Fixi, but requires a 100k deposit... Marex Spectron, 250k deposit. Divisa Uk but didn't have an answer.... Interactive Brokers maybe but I'm skeptical : they allow small order size, not very good proof of real interbank.... Capmar financial, high deposit I think.

LCG FX, Alpari and AlumFx are now out of business.

In Australia you have Baxter FX, requires 50k deposit. Not sure there's segregated accounts in Australia.

In US there is FXCM Pro but no idea if they allow non institutionnal traders.

Possible to take a look at Dukascopy/Atom8 : same price feed for everybody... Their quotes come from 30 liquidity providers, including Currenex hotspotfx...
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