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MBTrading vs HotspotFX vs Dukascopy vs IB

  • #61
  • Aug 4, 2008 1:27pm Aug 4, 2008 1:27pm
In the age of IT, ticket-size doesn't really matter anymore. 10 years ago that was probably different. Nowadays processing a few 100k tickets per day isn't really a problem.

If you trade through IB, they show the usual investment banks as counterparty even to small trades. Altho ECNs do not represent "the interbank market" - that would imply that banks trade amongst each other there, which is not the case. Interdealer-platforms (like EBS etc.) are a whole different ballgame.
  • #62
  • Apr 20, 2009 11:05am Apr 20, 2009 11:05am
BUMP

I want to think about ECN broker in ther future? Any updates on the commission, spreads, etc.? of these 4 brokers (5 if including Oanda)
  • #63
  • Apr 20, 2009 6:56pm Apr 20, 2009 6:56pm
Quoting hilmy83
BUMP

I want to think about ECN broker in ther future? Any updates on the commission, spreads, etc.? of these 4 brokers (5 if including Oanda)
HotSpot retail no longer exists, bought out by FXCM Active Trader. All of the retail sites publish spreads in real-time on their homepages now (except for FXCM, which offers a demo) so you can compare spreads more directly. Commissions have remained static.
  • #64
  • Apr 26, 2009 4:09pm Apr 26, 2009 4:09pm
Quoting Trader KGB
HotSpot retail no longer exists, bought out by FXCM Active Trader. All of the retail sites publish spreads in real-time on their homepages now (except for FXCM, which offers a demo) so you can compare spreads more directly. Commissions have remained static.
I am curious to know if you got any recent experience with HotspotFXi (Institutional)? Especially how the liquidity situation is, given the general circumstances.

Does anyone know if HotspotFXi runs the same model as Currenex, where different prime brokers have different liquidity providers or is it one big pool where everyone connected to HotspotFXi sees the same liquidity posted?
  • #65
  • Apr 26, 2009 4:16pm Apr 26, 2009 4:16pm
Quoting BlackMage
I am curious to know if you got any recent experience with HotspotFXi (Institutional)? Especially how the liquidity situation is, given the general circumstances.
Last spring/summer I gave their live system a test and it was a ghost town. Spreads and liquidity were significantly lackluster. A number of FXi traders on here and elitetrader mentioned similar circumstances and not one that I know of still trades on there. The situation might have improved, but I haven't heard anything about them in months.

Quote
Does anyone know if HotspotFXi runs the same model as Currenex, where different prime brokers have different liquidity providers or is it one big pool where everyone connected to HotspotFXi sees the same liquidity posted?
Centralized, everyone connected sees the same liquidity posted.
  • #66
  • Apr 26, 2009 4:37pm Apr 26, 2009 4:37pm
Quoting Trader KGB
A number of FXi traders on here and elitetrader mentioned similar circumstances and not one that I know of still trades on there.
So where are high volume spot fx traders trading nowadays?

I will be "stress testing" Dukascopy in a couple of days, so lets see if they can deliver.
  • #67
  • Apr 26, 2009 5:10pm Apr 26, 2009 5:10pm
Quoting BlackMage
So where are high volume spot fx traders trading nowadays?
IB and various Currenex hubs mainly.
  • #68
  • Apr 26, 2009 5:24pm Apr 26, 2009 5:24pm
There are also boutique-like firms who will offer access to various platforms simultaneously (Hotspot, Currenex, EBS etc.) I.e. Marex, Fixi, London Capital or ADM in the states. Advantage Futures also started a similar service recently (Hotspot + ebs). Typically a 100K account is required.

But i agree, IB does pretty much the same thing like above platforms at a very competitive price. If you aren't really a super heavy hitter there isn't much difference.
  • #69
  • Apr 26, 2009 5:34pm Apr 26, 2009 5:34pm
Quoting shrike
There are also boutique-like firms who will offer access to various platforms simultaneously (Hotspot, Currenex, EBS etc.) I.e. Marex, Fixi, London Capital or ADM in the states. Advantage Futures also started a similar service recently (Hotspot + ebs). Typically a 100K account is required.
Simultaneously via an aggregated platform like CAX? Or just simultaneous access to each platform independently?
  • #70
  • Apr 26, 2009 5:39pm Apr 26, 2009 5:39pm
No, just access, no aggregation.
  • #71
  • Apr 26, 2009 5:53pm Apr 26, 2009 5:53pm
Thx for the replies. I got access to most through FC Stone, but the problem is that it takes forever to hook up to each platform even using FIX and it is a relatively complex setup. Therefore aggregation is interresting.

What is the typical spreads and best bid/ask liquidity on IB PRO for EUR/USD during US session?
  • #72
  • Last Post: Apr 26, 2009 6:11pm Apr 26, 2009 6:11pm
Quoting BlackMage
What is the typical spreads and best bid/ask liquidity on IB PRO for EUR/USD during US session?
0.5 - 1.5, mostly 1, occasionally 1.5, basically falling right in line with every other ECN (IB trades at 0.5 increments, not 0.1 like others). 3-10M at the best bid/ask (each side).
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