Jade FX changing to new liquidity provider (leaving Boston Technologies?)

This message was sent into the Jade FX client terminal mailbox:

"Great News for our Members on our new upcoming Liquidity"

As many of members know we been in tough negotiations, to get the best offers from our liquidity providers and only choose the best of out them and even after choosing the best , we still need to make sure that they can meet certain conditions for executions and low spreads.

Here is the Great News
We will have a new liquidity Provider with a more stable execution and even lower Spreads and More than 72 Currency symbols
Compared to our current liquidity
Spreads: Are lower than what we have currently in all cases on all more than 72 currency symbols . The Spreads are Variable spreads as we have now they are not Fixed spreads.
Leverage : 100: 1
Lots to trade : Micro-Lots ( 0.01 = 1k Lots) , Mini-Lots (0.1 = 10k Lot ) , Standard Lot ( 1 = 100k Lot )
Minimum Account Deposit = US$ 400
Commission = US$ 0.06 per Micro-Lot per Roundturn, US$ 0.60 Per Mini-Lot per Roundturn and US$ 6 Per Full standard Lot per Roundturn.
Trading Network Infrastructure = Brand New infrastructure built from Ground up for Optimized Trading. All New DataCenter and Brand New Powerful Servers that are just Optimized for Trading . You are going to see a Huge difference from what we have now.
Strategies allowed : Normal Scalping Allowed but Not Hyper Aggressive Scalping , Hedging is allowed , medium & long-term trading, Expert Advisors are allowed , Manual trading is allowed e.t.c
No more of those annoying liquidity issues we have been having, we are sparing nothing to make sure our members get the best
What is needed on your Part in order for us to rollover to the New Liquidity

Scheduled liquidity Cutover or Rollover Date is Friday 26th February 2010 at 1 PM EST (New York Time )
1. We are asking all our Members to start unwinding or closing their Open positions if they can as we approach the above date. Please make sure that by Wednesday 24th February 2010 , you have all your orders closed or have very few orders open . Incase for some reason, you can not close your orders by end of day on Wednesday 24th February 2010, please Let us know ASAP, so that we can handle the liquidity cutover or rollover very smoothly with Minimum impact to our clients
2. Since now we have Brand New infrastructure - All our current VPS users will receive New VPS IP addresses on 26th February 2010 at about 3 PM EST and Login Credentials so that they can Setup it over the weekend of 27th February 2010 and have it ready for Sunday. We will be open throughout that weekend to facilitate the liquidity rollover. This New VPS are Faster and more reliable than what we have been getting from our partners
3. Trading will Resume as usual or normal on Sunday 28th February 2010 at 5:00 PM EST ( New York Time )
4. All Members will be required to Download the New JADEFX MT4 Client and set it up. It is almost similar to what we have now except the Servers that are hardcoded into the New JADEFX MT4 Client are different plus a few other cosmetic changes and also now you will be able to download historical data for proper backtesting, directly from Metaquotes servers. It will be available end of day on Wednesday 24th February 2010 or Earlier from our new website http://www.jadefx.com . The Symbols will no longer have " jfx " at the end of them . Example instead of EURUSDjfx you will have EURUSD as a symbol
Hint: For all existing members if you have charts and EAs set up with Account Name and Account Number . You account Number and Name will still be the same. Just make sure you have a Backup of your Templates , EAs and Indicators and you can just copy them back to their respective similar folders under the new JADEFX folder

5. Once you do this you are all set . Our members will be Happy to see what we are offering . It is a big Leap from what we have currently . We are getting better Lower Spreads, Stable and Fast execution and Micro-Lots and all at affordable Institutional ( Bank ) Spreads .

For the First-Time we are going to have a brokerage built from Ground Up to serve our Members because 95% of our members trade for a living and we want them to continue generating income in order to support and take care of their families. We are also traders and we have been through what some of our new traders are going through or have recently gone through. Therefore we really understand, what a JadeFX Autotrader Club member needs to succeed
1. Low Institutional Spreads
2. Low Commissions
3. Stable and Fast execution
4. Flexibility to trade using EAs , Normal Scalping and Hedging

Any Questions and concerns about this should be forwarded to [email protected] and we will respond as soon as possible to our members concerns


Thank you very much and hope that we can have great trading Months going forward

JadeFX ( Jade Investments Group, LLC)
www.jadeinvestments.com

So who could be the new liquidity provider?

Positive points:
Minimum trade size has been lowered from 0.1 to 0.01 lots
Lower Ask-Bid spreads (yet to be seen)
Better execution (yet to be seen)

Negative points:
Leverage has been lowered from 200 to 100
Commission has bee raised from 0.5 to 0.6 USD per 0.1 lot
"Hyper Aggressive Scalping" is not allowed.

They have not defined what "Hyper Aggressive Scalping" is, and how it is different from just "Aggressive Scalping" and "Normal Scalping".

However, from what I've read by someone who contacted them for more details: The reason is now obvious to why such details were not included in the announcement.

Also confirms that they're a bucketshop.

Pretty rough requirements for an average short-term Forex trader to meet IMO. Another reason to go with MB trading...

If there a STP ECN, why would they care if you don't hold the order for at least 90 seconds? Or take a profit of less than 5 cents.

Wouldn't this increase there revenues?

My guess is only full size lots go out to the real interbank market, like most other ECN's with very low minimum initial deposits required, they aggregate the rest of the order.


this is taken from there site

We offer tight spreads , as low as 0.2 during high liquidity sessions in major currency pairs. In STP type of Brokerage, the minimum lot accepted by a bank is 10k ( 0.1 Lot ) with increments of 0.1 . So if any broker offers you Micro Accounts and 0.01 Lots then you will be trading through a Dealing Desk. At JadeFX we don't have Dealing Desk and we don't offer Micro Accounts.

I guess they admit to having a dealing desk, since they will be offering Micro-Lots..

Forget all this broker JADE FX is Fraud!!! lost 2000k account