Market Makers & ECN’s, Is the grass greener? | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Market Makers Vs STP Vs ECN - Newbies should read 1 reply

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Cheapest ECN Comissions - Vantage FX ECN 10 replies

Leaves of Grass 28 replies

ECN vs Market Makers 1 reply

Attachments: Market Makers & ECN’s, Is the grass greener?
Exit Attachments

Market Makers & ECN’s, Is the grass greener?

  • #61
  • Oct 23, 2006 12:30pm Oct 23, 2006 12:30pm
Quoting Darkstar
ODL is pretty tight. $25-75mio per pip liquidity in London and New York sessions on U/J and E/U. $5-20mio in asia. Constant 0-1pip spreads anytime (ex news which is around 5).

It may be wise to talk to the reps in london even if you are somewhere else. Outside London, they don't seem to know much about the institutional products...
Has the fills and speed of execution been everything that you hoped for?
Please feel free to elaborate and rub it in to us lowly retail guys
Profit is where readiness meets Opportunity
  • #62
  • Oct 23, 2006 2:21pm Oct 23, 2006 2:21pm
Quoting FXopportunist
Has the fills and speed of execution been everything that you hoped for?
Please feel free to elaborate and rub it in to us lowly retail guys
Lets just say I can't imagine how it could get any better.
  • #63
  • Oct 25, 2006 4:10pm Oct 25, 2006 4:10pm
I live in South America, and, to understand better the discussion, I need to know that it is “ECN”.

Kindly.
  • #64
  • Oct 25, 2006 4:53pm Oct 25, 2006 4:53pm
Quoting ATAHUALPACL
I live in South America, and, to understand better the discussion, I need to know that it is “ECN”.

Kindly.
If you read the whole thread you should be able to get the concept through the context. If not, the CFTC nad NFA website have specific definitions.
Profit is where readiness meets Opportunity
  • #65
  • Oct 26, 2006 3:57pm Oct 26, 2006 3:57pm
Quoting ATAHUALPACL
I live in South America, and, to understand better the discussion, I need to know that it is ?ECN?.

Kindly.
You can also read another sticky thread on this forum "The Structure of Forex Brokers" or check the definition on Wikipedia.
  • #66
  • Nov 6, 2006 6:55am Nov 6, 2006 6:55am
Quoting PipRipper
It seems apparent that the "in crowd" doesn't want you to think about other_brokers. If a broker does not sponsor FF then its link better not be posted or else... is that it?
Not sure what you are refereing to here. Care to elaborate?
Profit is where readiness meets Opportunity
  • #67
  • Nov 28, 2006 11:28am Nov 28, 2006 11:28am
I have been exchanging E-mails with FXMarketspace. Their representative staed to me that: IN NO CAPACITY WILL FXMARKETSPACE BE AVAILABLE TO RETAIL CONSUMERS.

You will not be able to join directly or trade contracts via your futures brokers like, per se, Globex.

However, It may be possible for companies like MBTrading to join. If they do this perhaps they could gain access to some exeptional liquidity and improve fills and transaction speed. I am not sure if this is feasible yet or how it would have to be set up. I am asking questions though and I will pass what I learn on in this thread.

FXO
Profit is where readiness meets Opportunity
  • #68
  • Nov 28, 2006 11:48am Nov 28, 2006 11:48am
Also to add, member banks will have the possibility of providing an anonymous platform to its clients. However, it sounds to me as if the transarency will be lost in this scenario. I will look into it further.
Profit is where readiness meets Opportunity
  • #69
  • Nov 30, 2006 2:28pm Nov 30, 2006 2:28pm
Why are everybody looking forward to appearance of FXMarketspace? I think it's just a competitor of EBS. And I don't think it will offer smth significantly different from EBS. Am I wrong?
  • #70
  • Dec 1, 2006 10:49am Dec 1, 2006 10:49am
Hi
Could anyone tell who is better from these 3 brokers ODL ,EFX or OANDA
problem with Oanda leverage is small , but I think they are the best .....
Thankx
Banda
BANDA333
  • #71
  • Dec 1, 2006 1:31pm Dec 1, 2006 1:31pm
Quoting BANDA
Hi
Could anyone tell who is better from these 3 brokers ODL ,EFX or OANDA
problem with Oanda leverage is small , but I think they are the best .....
Thankx
Banda
What type of trader are you is the first question you must answer first. Each one of those borkers has their strengths.
Profit is where readiness meets Opportunity
  • #72
  • Dec 1, 2006 1:35pm Dec 1, 2006 1:35pm
Quoting Dr.
Why are everybody looking forward to appearance of FXMarketspace? I think it's just a competitor of EBS. And I don't think it will offer smth significantly different from EBS. Am I wrong?
I think alot of retail traders were looking forward to FXMarketspace because of the promise of transparency. As for people trading with bank feeds and prime brokers using fxall and currenex, they already have it pretty good comparatively speaking. Now that we know that the retail traders will not get access, the only possible benefit left to explore in relation to FXMarketspace is possible secondary access through a bank or an ECN that might use FXMarketspace for a source of liquidity.
Profit is where readiness meets Opportunity
  • #73
  • Dec 3, 2006 6:24am Dec 3, 2006 6:24am
I am looking for new broker.
I usually trade the news.
I prefer fixed spread.
any suggestions?

thank you
  • #74
  • Dec 3, 2006 11:34am Dec 3, 2006 11:34am
Quoting Abouelzelouf
I am looking for new broker.
I usually trade the news.
I prefer fixed spread.
any suggestions?

thank you
I think that is kind of a million dollar question right now Abouelzelouf. The bottom line is that, if you are good at news trading, a market making broker is gonna lose money on you. So, the established market maker brokers have all pretty much implemented some defenses against news traders such as widened spreads, slippage or no fills during news releases. A few people have found that new fledgling brokers will let you take advantage of them for awhile just to get the ball rolling and bring in some traders but they can't take too much of a beating for too long.
Profit is where readiness meets Opportunity
  • #75
  • Dec 3, 2006 12:54pm Dec 3, 2006 12:54pm
Quoting FXopportunist
I think that is kind of a million dollar question right now Abouelzelouf. The bottom line is that, if you are good at news trading, a market making broker is gonna lose money on you. So, the established market maker brokers have all pretty much implemented some defenses against news traders such as widened spreads, slippage or no fills during news releases. A few people have found that new fledgling brokers will let you take advantage of them for awhile just to get the ball rolling and bring in some traders but they can't take too much of a beating for too long.

Thank you.
I still consider my self as a beginner in trading and got used to trading the news but I am trying some other techniques away from news on a demo account. and as you said when I started getting few winning hits the broker started playing some tricks on me, so I am looking for new one. when I was loosing they did not have any problem at all.
  • #76
  • Edited Mar 24, 2007 12:02pm Dec 3, 2006 9:40pm | Edited Mar 24, 2007 12:02pm
Subject: FXMarketspace timeline and availability

Hello all,

I would like to know how FXMarketspace will be presented to the public. Will Spot FX contracts be available on all futures platforms like Globex or will traders have to open a specific exclusive account with FXMarketspace like a broker? If you will operate like a brokerage, will you use your own platform or an existing technology like Currenex? Lastly, how long until FXMarketspace is expected to be open and tradeable?

Thank you for your interest in FXMarketSpace.

FXMarketSpace will be FSA regulated. This would result in it being an institutional only platform and all counterparties must meet the FSA market counterparty criteria and the CFTC's ECP criteria which includes minimum gross assets. All Institutional traders must be registered with FXMarketSpace.

FXMarketSpace is using another instance of the GLOBEX platform for trading. This technology is proprietary to the CME.

The platform will go live in Q107. Currently all the Early adopter firms are testing on the platform.

Regards,

Tarun Anand



Subject: RE: FXMarketspace timeline and availability

 Thank you for your reply Tarun,

Will existing Futures Brokers be able to offer FXMarketplace Spot contracts to retail consumers as they can with globex?


Unfortunately, due to the FSA regulatory environment and guidelines, we are unable to offer the platform to retail consumers. I do not foresee this changing in the near future.

Best Regards,

Tarun Anand

Subject: RE: FXMarketspace timeline and availability

Thank you for your prompt reply Tarun.

It is truly a shame that this is not possible. The retail traders would be an instant successful market for you. As far as I can see, the institutional traders already have it pretty good trading though banks and primes on FXAll and Currenex.

Will companies like MB trading or FXCM be able to join FXMarketspace and clear some of their trades through you?


Yes that is true for retail customer...... However, we are proposing to the banks an anonymous platform through a CCP, which the current Multi bank platforms do not provide.

MB Trading and FXCM can certainly trade on the platform on a principal to principal basis.

Regards,


Tarun Anand


Subject: RE: FXMarketspace timeline and availability

Hello Tarun,

The bank platform you speak of is an interesting possibility.
I assume this means that the bank would be the counterparty to their clients trades and then pass their subsequent position on to their FXMarketspace account? Or, basically clear through FXMarketspace?


Yes that is correct. The end client trades with the bank and the bank trades with FXMS. In essence the CCP novates the trade, by becoming the buyer to every seller and seller to every buyer.

Regards,

Tarun Anand


Subject: RE: FXMarketspace timeline and availability

Thank you very much for taking the time to answers my questions Tarun. You have been very helpful and informative.

May I have your permission to post these E-mails at a trader’s forum at ForexFactory.com so that my fellow members and traders can have the latest information?

You are most welcome.


You can post this info. for sure...


Regards,

Tarun Anand


So, that is pretty much the scoop details at this point
Profit is where readiness meets Opportunity
  • #77
  • Edited Mar 24, 2007 12:05pm Jan 12, 2007 10:16am | Edited Mar 24, 2007 12:05pm
So how do we find out who is a partner with Fxmarketspace once it's active? If EFX Group or MB Trading did this it would be great. That would be tons of liquidity. The only problem I have with EFX Group is they don't pay good on swap (rollover). This is the one thing most traders don't even pay attention to and it's sizeable if you have any carry trades. For instance the carry trade on GBP/JPY can be around $7,200 per month on only 1m of position size. I know most people are in and out so quick it doesn't matter, but it does matter to me. Other than that I like the looks of EFX.
  • #78
  • Feb 27, 2007 7:01am Feb 27, 2007 7:01am
i looked into EFX...they're just a white-label of MBtrading. MBtrading might be okay for your needs except that their access to the FX market is quite small. they built their business on equities trading...FX is relatively new for them.if you're going to be trading size then you're probably better off looking at one of the bigger market makers mentioned throughout this forum. if you're going to be trading a small account (less than $5,000) then EFX/MBtrading will probably be okay. just watch out for the commissions they charge on top of the spread...do the math and figure out if it amounts to much for how much you'll typically be trading.
  • #79
  • Feb 27, 2007 1:33pm Feb 27, 2007 1:33pm
Quoting risktaker989
i looked into EFX...they're just a white-label of MBtrading. MBtrading might be okay for your needs except that their access to the FX market is quite small. they built their business on equities trading...FX is relatively new for them.if you're going to be trading size then you're probably better off looking at one of the bigger market makers mentioned throughout this forum. if you're going to be trading a small account (less than $5,000) then EFX/MBtrading will probably be okay. just watch out for the commissions they charge on top of the spread...do the math and figure out if it amounts to much for how much you'll typically be trading.
huh? Not suitable for bigger than 5k accounts? How did you come to THAT conclusion..

best bid/ask on efx/mb on euro and yen is between 15 and 50 mio. most of the time. On the majors you can click a 1 mio order almost without look at the depth at all times.

Ofc, if someone trades a milion or more, he wouldnt do it on efx, but not because it isnt possible, but because for those people there are cheaper ways to trade. On the other hand, i bet high volume traders can negotiate better commissions with mb/efx.
  • #80
  • Mar 4, 2007 12:22am Mar 4, 2007 12:22am
Thanks for sharing.
0 traders viewing now