I don't want to open a new thread so I'm going to ask a question here. Can somebody explain to me what is a benefit to use prime of prime broker instead of the normal / regular broker.
I don't want to open a new thread so I'm going to ask a question here. Can somebody explain to me what is a benefit to use prime of prime broker instead of the normal / regular broker.
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Only if you trade with more than 100 lots/10million per clip. Why? Most retail brokers have a very high trade costs and most are mm in disguise of stp. Don't worry if you are going to make it in this business you will know these things.
{quote} Only if you trade with more than 100 lots/10million per clip. Why? Most retail brokers have a very high trade costs and most are mm in disguise of stp. Don't worry if you are going to make it in this business you will know these things.
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It's really just about the safety and that everything is transparent from PB to Tom/Next at a Prime of Prime, that you just know your liquidity is not dodgy and they can fuck around with spreads during NFP.
That's just why the more experienced people choose prime of prime and trade on currenex rather than FXCM because it's just different and there's always a few tips and tricks these non institutional brokers play.
{quote} It's really just about the safety and that everything is transparent from PB to Tom/Next at a Prime of Prime, that you just know your liquidity is not dodgy and they can fuck around with spreads during NFP. That's just why the more experienced people choose prime of prime and trade on currenex rather than FXCM because it's just different and there's always a few tips and tricks these non institutional brokers play.
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Ctrader from a reputable brokerage, for example pepperstone is good for small retail traders. Plotinus in your experience what is the maximum liquidity you had ever seen in london session for EURUSD within 1pip?
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Joined Apr 2015
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Status: Junior Member
|4 Posts
I already read all posts in this threat 3 times. Lot of contradictory opinions regarding options. I were thinking in open an account in Baxter-FX but things didnt went well during trial and max. leverage is a little low. Regarding LMAX, lot of contradictory opinions - Last friday on NFP the spread were widen to 28 pips, its not the type of liquidity Im looking for. Last 2 weeks I saw some consistency on opinions about Tickmill and confirmed lowest spreads even during News releases, but they didnt accept me as customer (EU resident).
Its 1st time I see someone mention Darwinex/Pepperstone on this topic, around 32 pips spread on NFP is a little out of line with other retail brokers...
I have account on IB and IC Markets and looking for alternative accounts to trade FX.
What Im looking for is listening about execution difference experiences on Baxter-FX, FIXI vs. most competitive retail brokers. Some people say I will not notice the difference if Im making -100M/click. I trade max. 5M/click so no point in changing to PoP? (I trade a lot during Central Bankers speeches and News releases, looking for traders with execution experience in trading during that periods).
I already read all posts in this threat 3 times. Lot of contradictory opinions regarding options. I were thinking in open an account in Baxter-FX but things didnt went well during trial and max. leverage is a little low. Regarding LMAX, lot of contradictory opinions - Last friday on NFP the spread were widen to 28 pips, its not the type of liquidity Im looking for. Last 2 weeks I saw some consistency on opinions about Tickmill and confirmed lowest spreads even during News releases, but they didnt accept me as customer (EU resident). Its 1st time...
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LMAX is essentially pure 100% ECN with no bank liquidity, so that's why liquidity can be poor. Correct me if I'm wrong.
IB and IC aren't considered as PoP.
If you're trading 5 mil per clip go change prime of prime.
{quote} LMAX is essentially pure 100% ECN with no bank liquidity, so that's why liquidity can be poor. Correct me if I'm wrong. IB and IC aren't considered as PoP. If you're trading 5 mil per clip go change prime of prime. 5 Mil for retail is not small
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LMAX has bank members. http://www.lmax.com/popup-general-members-snapshot If they don't have bank members they could not have provided consistent liquidity around the clock. LMAX has no last look providence and as a result banks don't really like them. LMAX have firm execution and is very good for small retail traders.
If you look at pepperstone's ctrader market depth, you have 100 lots within 0.5pips consistently. So, 10million order is still small.
I already read all posts in this threat 3 times. Lot of contradictory opinions regarding options. I were thinking in open an account in Baxter-FX but things didnt went well during trial and max. leverage is a little low. Regarding LMAX, lot of contradictory opinions - Last friday on NFP the spread were widen to 28 pips, its not the type of liquidity Im looking for. Last 2 weeks I saw some consistency on opinions about Tickmill and confirmed lowest spreads even during News releases, but they didnt accept me as customer (EU resident). Its 1st time...
Regarding LMAX I will give it a try also, is based in London Equinix LD4/5 so will going to setup a VPS in London and will try LMAX and IG Markets that have seen good comments also on this thread about their liquidity/execution.
{quote} It looks interesting, ty for suggestion. Regarding LMAX I will give it a try also, is based in London Equinix LD4/5 so will going to setup a VPS in London and will try LMAX and IG Markets that have seen good comments also on this thread about their liquidity/execution.
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I wouldn't recommend lmax specifically for news trading. As far as i know they dont want it("toxic flow") and will ask you to stop. Their CEO said as much in interviews. Its a concession to LPs in order to get them to quote without last look. At least talk with them about it before, so you dont waste time. Maybe it has changed.
{quote} I wouldn't recommend lmax specifically for news trading. As far as i know they dont want it("toxic flow") and will ask you to stop. Their CEO said as much in interviews. Its a concession to LPs in order to get them to quote without last look. At least talk with them about it before, so you dont waste time. Maybe it has changed.
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That really donīt amaze me but I were thinking LMAX trying to be kind of a real exchange. This is a industry controlled by bankers, they make billions/year the way things work. Most retail brokers are literally stealing $ from their clients. Maybe the only way is futures market the only really fair exchange, not sure about PoP because in essence i think it should work the same way because the LPs are the same as on most retail brokers products.
I worked in this industry as financial consultant 15 years ago, the world have advanced so much on technology and efficiency but looks like in FX it all remained exactly the same. Back then the brokers didnīt cover positions from clients with 5-10k accounts because they expect the clients bust the accounts sooner or later...
{quote} That really dont amaze me but I were thinking LMAX trying to be kind of a real exchange. This is a industry controlled by bankers, they make billions/year the way things work. Most retail brokers are literally stealing $ from their clients. Maybe the only way is futures market the only really fair exchange, not sure about PoP because in essence i think it should work the same way because the LPs are the same as on most retail brokers products. I worked in this industry as financial consultant 15 years ago, the world have advanced so much...
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They are a real exchange with traders and bank and non banks combined but during news, only a minority trades.
{quote} I wouldn't recommend lmax specifically for news trading. As far as i know they dont want it("toxic flow") and will ask you to stop. Their CEO said as much in interviews. Its a concession to LPs in order to get them to quote without last look. At least talk with them about it before, so you dont waste time. Maybe it has changed.
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Not many traders trade during news anyway. I tried trading news a few times, the result is really mixed so I would imagine it would be similar to other traders as well unless you have inside information. But to forbid it outright is not fair. So what, when they trade it and win it's fine and when we trade it and win against them it's "toxic flow"? What happened to "taking it like a man", something they always say to us whenever we lost because of them screwing us over? And we don't even manipulate the price and do those dirty last looks and requotes on them, and they can't take it when we win?
I knew it. Bunch of castrated sissy cowards calling themselves "prime banks" "liquidity providers", my a**!! WHERE were they during the SNB announcement?
