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Another MT4/ECN broker, any thoughts??

  • #21
  • Mar 15, 2009 9:31am Mar 15, 2009 9:31am
Quoting Fx chartist
I think they charge 5$ per 100000$ trade each side as cited in their website, not a round-trip. Also, I think your calculation on your previous post about commission equivalent to pip somewhat incorrect.
It should be $0.413 per mini lot instead.
Yes, I believe you are correct.... I stuffed up my reading of their site.

Thanks for correcting me...
  • #22
  • Mar 15, 2009 9:33am Mar 15, 2009 9:33am
Quoting fxtrader42
Actually, the way they calculate it is the way the banks charge them and it is the industry norm. After looking at what MB charges you can add one pip to their spread. They could actually have core spreads most of the time on eur/usd and usd/jpy and they would still be more expensive then where I trade. I want to like MB but I just have trouble liking them. Their technology has glitches that I didnt even know about, they have more down time to clear trades then any other ECN. They have a ways to go before they get any of my business. I hope they...
So fxtrader42, which broker do you trade through? I'm already interested.
  • #23
  • Mar 15, 2009 10:21am Mar 15, 2009 10:21am
CMS Currenex and DB Autobahn...
  • #24
  • Mar 15, 2009 10:27am Mar 15, 2009 10:27am
Quoting fxtrader42
CMS Currenex and DB Autobahn...
thanks, I'll have a look at them....
  • #25
  • Mar 16, 2009 1:17pm Mar 16, 2009 1:17pm
Quoting aquaart
thanks, I'll have a look at them....
Dear Trader,

I will be happy to set you up with our Currenex demo if you're still interested.
  • #26
  • Edited 7:18pm Mar 19, 2009 7:07pm | Edited 7:18pm
Has anyone had any experience with Invest Tech Fx www.investtechfx.com
Supposedly ECN with very low spreads. I've been demoing successfully but interested if anyone has had a live account and any feedback + or -

Thanks
  • #27
  • Mar 20, 2009 9:24am Mar 20, 2009 9:24am
Quoting Auric
Has anyone had any experience with Invest Tech Fx www.investtechfx.com
Supposedly ECN with very low spreads. I've been demoing successfully but interested if anyone has had a live account and any feedback + or -

Thanks
Hmmm...don't know anything about them, but in reading some FPA reviews, it seems trade execution is an issue with them. That's really important, since bad execution completely negates any benefit you might get from low spreads.

I had that issue with MIG, and closed my account with them almost immediately. Everything looked great "on paper", but live trading and live execution was something else entirely.

And I don't believe their "no dealing desk" claim. They don't charge commissions, so they are making their money somewhere.

But if anyone with live experience can comment, I'd love to hear it also
  • #28
  • Mar 22, 2009 6:21pm Mar 22, 2009 6:21pm
Quoting Auric
Has anyone had any experience with Invest Tech Fx www.investtechfx.com
Supposedly ECN with very low spreads. I've been demoing successfully but interested if anyone has had a live account and any feedback + or -
Thanks
IF they are ECN, they are widening their spreads because a genuine ECN receives 3 or 5 decimal place quote feeds from their banks not 2 or 4. Hence they must be automatically rounding out their spreads and capturing the fractional pip variations as additional profit for themselves. In addition to this read their customer agreement about charges and fees. There are some clauses their that you need to be aware of, and maybe need explanation from investtechfx.

Spreads can not be ECN if they are fixed spreads, unless they are from one financial institution only. Because different banks offer many different prices at different times. Consequently the spread MUST vary every couple of seconds.

Most genuine ECNs cannot offer 500:1 leverage ability. This is because in an ECN the money is normally held by the bank and not broker.
  • #29
  • Mar 25, 2009 12:47pm Mar 25, 2009 12:47pm
So after having a conversation with someone at Invest Tech (which did take a series of leaving my number and waiting for a callback) they explained that they are a NDD company, not even actually a broker and that clients funds are deposited with Globex Interbank. I'm not familiar with this setup but i'm investigating. Anyone ever heard of this type of setup?

Quoting aquaart
IF they are ECN, they are widening their spreads because a genuine ECN receives 3 or 5 decimal place quote feeds from their banks not 2 or 4. Hence they must be automatically rounding out their spreads and capturing the fractional pip variations as additional profit for themselves. In addition to this read their customer agreement about charges and fees. There are some clauses their that you need to be aware of, and maybe need explanation from investtechfx.

Spreads can not be ECN if they are fixed spreads, unless they are from one...
  • #30
  • Apr 28, 2009 4:02pm Apr 28, 2009 4:02pm
Quoting fxtrader42
CMS Currenex and DB Autobahn...
Are you live with the CMS Currenex? I thought they were still beta testing it. Are you talking about the CMS FX MT4 with the Currenex bridge or another platform?
  • #31
  • Apr 28, 2009 5:38pm Apr 28, 2009 5:38pm
Quoting FXRick1971
Are you live with the CMS Currenex? I thought they were still beta testing it. Are you talking about the CMS FX MT4 with the Currenex bridge or another platform?
CMS Currenex has been live for a while now. CMS MT4 I believe is live now too. Do you trade on their MT4 platform?
  • #32
  • Last Post: Apr 28, 2009 7:08pm Apr 28, 2009 7:08pm
Quoting fxtrader42
CMS Currenex has been live for a while now. CMS MT4 I believe is live now too. Do you trade on their MT4 platform?
Yes, trading on the MT4 for about 5 weeks now. Spreads could be a bit better, but the execution has been great.

Supposedly, according to my IB, the MT4 with the bridge to the currenex pricing is ready, but they aren't able to back it up yet.
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