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Large account + large volume - Optimum Clearing Options?

  • #1
  • First Post: Edited 5:46am Mar 26, 2010 4:39am | Edited 5:46am
Dear Traders,

I am currently in the process doing due diligence on firms to trade through and am soliciting advice from some trusted sources on clearing options.

I am not a scalper as per most peoples definition however I do trade on a short term basis and commissions + spread costs add up so a further edge can be gained by careful broker selection.

I would be most grateful if those with first hand contact with firms servicing the professional end of the market would share their experience/recommendations, preferably here, but by PM if you'd prefer not to post to the forum.

My priorities, in loose order are:

1. Integrity and customer service of firm
2. Solid liquidity base to fill large orders without issue
3. Spread + commission rate on GBPUSD, EURUSD
4. Solid trust in price feed
4. Non-USD based accounts available (not essential but preferable, I am in Australia)

Many thanks to those who take the effort to reply.

Dingo
  • #2
  • Mar 26, 2010 5:16am Mar 26, 2010 5:16am
What kind of question is that?

Are you a newbie with 1M thinking about gambling in to the Forex market? You will end up shirtless. The dingoes out there will eat you to the bones.

Go trade for a few years with petty cash until you learn about brokers and the market in general....than put some real money on the line.

After you know what you are doing take your 1M that is kind of the bare minimum but you may find a bank that will give you 3:1 leverage so you can bypass the broker and trade in the real interbank market.
  • #3
  • Mar 26, 2010 5:30am Mar 26, 2010 5:30am
Quoting Platypus
What kind of question is that?

Are you a newbie with 1M thinking about gambling in to the Forex market? You will end up shirtless. The dingoes out there will eat you to the bones.

Go trade for a few years with petty cash until you learn about brokers and the market in general....than put some real money on the line.
Huh? Ah, no sir, I'm not sure why you have jumped to the attack? I am a professional FX and Futures trader and trade full time for a living, however this is not the subject of this thread and I don't see why you felt the need to make this comment. I am getting advice from a number of sources on this topic and thought there may be some fellow traders here with something constructive to share. Please entertain yourself elsewhere.
  • #4
  • Mar 26, 2010 5:37am Mar 26, 2010 5:37am
Don't take me in the wrong way my friend, but your questions are not the kind of questions a professional asks.

I'm not trying to attack but to protect you.

As a "professional" as you claim to be, you should already be trading directly with banks. A small bank can give you anything from 3:1 to 5:1 leverage.

Again...your questions don't make sense



Just like to add......are you looking for this kind of advice here...on FF?......
  • #5
  • Mar 26, 2010 5:58am Mar 26, 2010 5:58am
Quoting dingo432
Anyone take the long on cable between 1.5515-1.5543? Strong selling....


Just took a look at your posts and........come on........ they don't look like anything that would come from a professional.....sorry buddy
  • #6
  • Mar 26, 2010 9:31am Mar 26, 2010 9:31am
Well, let's actually try and be helpful shall we?

I would give a tip of the hat to Interactive Brokers here in the U.S.. They have all the amenities you are looking for, including funding in AUD. The spreads are usually nice and tight, and the commissions aren't astronomical. They are also a full service house, letting you trade stocks, futures, bonds, etc as well as forex through an ECN.

If I had the Scrooge McDuck piles of cash laying around, I would probably be trading through them. I also know that a few of the more "senior" members of FF recommend them.

PS, thank you Dingo for using nice, full, and proper grammar.
  • #7
  • Mar 26, 2010 9:43am Mar 26, 2010 9:43am
What ever 'large' means by the OP's standards, IB has a max order-size of 4M for gbp. Also 'large' probably means he wants a platform with vwap price display capability, so he actually knows the price before sending a 'large' order.
  • #8
  • Mar 26, 2010 9:48am Mar 26, 2010 9:48am
Quoting Platypus
What kind of question is that?

Are you a newbie with 1M thinking about gambling in to the Forex market? You will end up shirtless. The dingoes out there will eat you to the bones.

Go trade for a few years with petty cash until you learn about brokers and the market in general....than put some real money on the line.

After you know what you are doing take your 1M that is kind of the bare minimum but you may find a bank that will give you 3:1 leverage so you can bypass the broker and trade in the real interbank market.
What the hell was that from you platypus..Do you understand English what is his question and what is your answer.....

Please refrain from answering questions you have no knowledge about and do not hurl abuse Mr Know it all..

Geppyg
Let Price determine your future!
  • #9
  • Mar 26, 2010 9:52am Mar 26, 2010 9:52am
Quoting dingo432
Dear Traders,

I am currently in the process doing due diligence on firms to trade through and am soliciting advice from some trusted sources on clearing options....
Hi Dingo,

Please PM me your email address
I will send you all the necessary Information.
We currently trade with IG Markets,
Fund Size is over 500K and have had no issues with liquidity,feeds and the spread is set and does not even change in news slots..

Good Day
Let Price determine your future!
  • #10
  • Mar 30, 2010 12:40am Mar 30, 2010 12:40am
Thanks to the constructive posters and those who have contacted me via PM.

Thanks Skyhook for the recommendation of IB but as per Shrikes comment if the max order size is 4m that will be limiting.

Any other suggestions would be welcome...

Cheers - Dingo
  • #11
  • Mar 30, 2010 5:27am Mar 30, 2010 5:27am
Depending on how large of an account, any top tier prime broker would do the job. This would give you access to all of the institutional ECNs (EBS, FXall/Accelor, Baxter-FX, Hotspot FXi, tier 1 Currenex, etc), as well as in-house aggregators. Another large trader here spoke highly of DB Autobahn. If you don't have the balance for top tier (JPM, GS, DB, MS, etc), then you can look into second tier (FC Stone, MF Global, etc). I would start by looking at the top (EBS via a top tier prime) and work down the chain from there.
  • #12
  • Apr 2, 2010 4:28am Apr 2, 2010 4:28am
Thanks KGB...good advice
  • #13
  • Apr 15, 2010 1:57pm Apr 15, 2010 1:57pm
Does anyone know which companies are clearing Autobahn?
  • #14
  • Last Post: May 27, 2011 7:58pm May 27, 2011 7:58pm
dingo432,

I would second what KGB said.

Quoting Geppyg
What the hell was that from you platypus..Do you understand English what is his question and what is your answer.....

Please refrain from answering questions you have no knowledge about and do not hurl abuse Mr Know it all..

Geppyg
Platypus is known for acting like an asshole. Ignore him.
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