Australian Traders Currenex ECN - MT4 connection & NO commissions | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

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

Low commission currenex ecn... 2 replies

Who is the counterparty on Currenex, ECN, DMA broker platforms? 18 replies

Connection to the server and Connection to the Data Center 2 replies

Currenex commissions? 5 replies

Attachments: Australian Traders Currenex ECN - MT4 connection & NO commissions
Exit Attachments

Australian Traders Currenex ECN - MT4 connection & NO commissions

  • #1
  • First Post: Edited Jun 12, 2009 6:41am Jun 4, 2009 10:11am | Edited Jun 12, 2009 6:41am
Just in case some Australian traders were looking for a new broker. Don't know whether this will keep on going but www.gomarketsaus.com have got a great currenex ECN feed into their MT4 trading platform.

Unlike other ECN brokers they also do NOT charge me any fees.

Below is a screen shot of market quotes so you can see for yourself what the quotes of the biggest pairs were, 3 hours into the NY session. The quotes are significantly wider than yesterday's quotes. Quotes could be wide as the NFP is coming up tomorrow, and we all know that institutions pull their offers out of the market causing spreads to widen in an ECN environment.

I'll update if the feed gets any better / worse over the coming weeks.

Added: I have recently realised that this that they are variable spread but not ECN, however, their variable spread would competetive with ATCBrokers (ECN), if ATCBroker's commission was converted into a pip value. However, MBTrading when up and running would still be better than GoMarkets.
Attached Image
  • #2
  • Jun 4, 2009 6:18pm Jun 4, 2009 6:18pm
I tested them

they not welcome news traders, and they will kick you out !
so this means they not ecn as they claim
Charting Markets into the Future...MǎҖ€¥.
  • #3
  • Jun 7, 2009 7:09am Jun 7, 2009 7:09am
Quoting MaXeY
I tested them

they not welcome news traders, and they will kick you out !
so this means they not ecn as they claim

No No, this means they do not make money out of commissions.

This means they make money out of hedging (not normal for an ecn feed).

As news trades are almost impossible to hedge that is the reason why they might not like news traders.

However, I have not had any bad news difficulties with them.
  • #4
  • Jun 7, 2009 9:08am Jun 7, 2009 9:08am
i can easily hedge my news trades...I offer them i can hedge my news trades.... still not welcome

Quoting aquaart
No No, this means they do not make money out of commissions.

This means they make money out of hedging (not normal for an ecn feed).

As news trades are almost impossible to hedge that is the reason why they might not like news traders.

However, I have not had any bad news difficulties with them.
Charting Markets into the Future...MǎҖ€¥.
  • #5
  • Jun 8, 2009 8:56am Jun 8, 2009 8:56am
Quoting MaXeY
i can easily hedge my news trades...I offer them i can hedge my news trades.... still not welcome
Ok
Sounds unusual considering their spreads are no worse than ATC, but not quite as good as MBTrading.
  • #6
  • Jun 8, 2009 9:04am Jun 8, 2009 9:04am
As I said, I would update prices of their feed.

This approximately 2 hours into the NY session Monday 8th June.

Quotes seem reasonable to me, considering there is no commission, but, apparently they do not want news traders. Maybe these 2 ideas are related.
Attached Image
  • #7
  • Jun 9, 2009 1:32am Jun 9, 2009 1:32am
Go Markets 06:17 GMT price quotes. Left Picture. No Commission.


Not as good as MBTrading at 06:24GMT. Right Picture. Commissions are between 1.5 and 3 pip (if $ are converted to pips) on the major pairs.

Hence MBTrading would be a little cheaper. Also, because spreads are lower, taking profit on the trade is more likely because the spreads do not have to travel as far to pass your profit point.
Attached Images
  • #8
  • Jun 9, 2009 1:59am Jun 9, 2009 1:59am
Quoting aquaart
No No, this means they do not make money out of commissions.

This means they make money out of hedging (not normal for an ecn feed).

As news trades are almost impossible to hedge that is the reason why they might not like news traders.

However, I have not had any bad news difficulties with them.
That's the most BS post I've ever seen.
  • #9
  • Jun 9, 2009 7:53am Jun 9, 2009 7:53am
Quoting IndyTrader
That's the most BS post I've ever seen.
Yes I realised that which is why I did the MBTrading versus GoMarkets comparison above.

I also stated that their dislike of news trading was because they don't charge commission...

...which means something that I have not written but is why I posted the MBTrading comparison, that GoMarkets must be spread widening. This would also mean that they are fixing their spreads some what even though their feed comes across as an ECN feed.

But try and find a fixed spread broker with the same pip spreads during the London and NY sessions. At the moment it would be hard.
  • #10
  • Jun 9, 2009 10:09am Jun 9, 2009 10:09am
Quoting aquaart
Yes I realised that which is why I did the MBTrading versus GoMarkets comparison above.

I also stated that their dislike of news trading was because they don't charge commission...

...which means something that I have not written but is why I posted the MBTrading comparison, that GoMarkets must be spread widening. This would also mean that they are fixing their spreads some what even though their feed comes across as an ECN feed.

But try and find a fixed spread broker with the same pip spreads during the London and NY sessions. At the moment...
The whole point of an ECN broker is that you only WANT them to make money on commissions. Otherwise, of course they are making it in the trading against you (or with settings on MetaEvilTrader).
  • #11
  • Jul 6, 2009 3:12am Jul 6, 2009 3:12am
Is it just me or does this whole thread read as a marketing/sales pitch?
  • #12
  • Jul 6, 2009 4:04am Jul 6, 2009 4:04am
Quoting aquaart
Just in case some Australian traders were looking for a new broker. Don't know whether this will keep on going but www.gomarketsaus.com have got a great currenex ECN feed into their MT4 trading platform.

Unlike other ECN brokers they also do NOT charge me any fees.

Below is a screen shot of market quotes so you can see for yourself what the quotes of the biggest pairs were, 3 hours into the NY session. The quotes are significantly wider than yesterday's quotes. Quotes could be wide as the NFP is coming...
you claim to trade ECN well bad news mate, GoMarkets is not an ecn.......

they fudge the currenex spreads.
  • #13
  • Jul 22, 2009 1:45am Jul 22, 2009 1:45am
Quoting >Apocalypto<
you claim to trade ECN well bad news mate, GoMarkets is not an ecn.......

they fudge the currenex spreads.
I was a little rough on Gomarkets.

I still have an account with them and for the purpose of a low spread no comm MT4 brokers they do a good job.

While testing out a few failed ideas trading live with go, I made around 150-200 live trades micro to mini. I can say great fills and no requotes, I did have 1 invalid price but these happen no matter who you trade with.

Spreads in the EURO to London session were tight.

cheers,
  • #14
  • Aug 10, 2009 10:55pm Aug 10, 2009 10:55pm
Those spreads are very high. Check out this youtube video on the Currenex platform. The spreads are very tempting and if it is a true ECN, then there would a commission charge too.
Inserted Video




Quoting aquaart
Just in case some Australian traders were looking for a new broker. Don't know whether this will keep on going but www.gomarketsaus.com have got a great currenex ECN feed into their MT4 trading platform.

Unlike other ECN brokers they also do NOT charge me any fees.

Below is a screen shot of market quotes so you can see for yourself what the quotes of the biggest pairs were, 3 hours into the NY session. The quotes are significantly wider than yesterday's quotes. Quotes could be wide as the NFP is coming...
  • #15
  • Edited 8:10am Aug 20, 2009 7:40am | Edited 8:10am
Opened up the Go account the other night after hearing about new liquidity providers.

Massive improvements from go. I have seen the E/$ at 0 many a time.

This really takes go to the front line, in the Mt4 broker category, IMO.
  • #16
  • Jul 8, 2010 8:39pm Jul 8, 2010 8:39pm
Apocalypto- I have been been trading with the Currenex since Dec of 09 with several brokers. I was just introduced to what they call pathfinder trader platform and it is some how connected to Currenex. The spreads are nice and there are some functions on this platform that the Currenex does not offer.

For instance placing a sl and tp with a market order on the currenex is a pain but i have dealt with it. On this platform, instead of figuring our the exact price, you can just put how many pips away you want for a sl and tp (look at the video below). Plus, they have the reverse button which came in handy when i was trading Futures.

Anyways what are your thoughts on this platform?

Inserted Video


Quoting >Apocalypto<
Opened up the Go account the other night after hearing about new liquidity providers.

Massive improvements from go. I have seen the E/$ at 0 many a time.

This really takes go to the front line, in the Mt4 broker category, IMO.
  • #17
  • Last Post: Jan 30, 2011 9:30pm Jan 30, 2011 9:30pm
XX trader its been a few months since youve been using it. How does it rate?
0 traders viewing now