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MAREX Currenex average slippage

  • #1
  • First Post: Sep 28, 2010 11:42am Sep 28, 2010 11:42am
Does anyone trade on Currenex through MAREX Financial? In my new prop firm I have to choose between MAREX Currenex and MAREX Black.
I will be trading around 5-6 million on eur/usd, and I'm interested if anyone has experience with the slippage of stop orders of such size on MAREX Currenex.

THNX
  • #2
  • Sep 29, 2010 2:11am Sep 29, 2010 2:11am
Marex currenex had poor liquidity when I saw it a few years ago...what is Marex black ?

Your prop firm should know more, who is your prop firm ?
  • #3
  • Sep 29, 2010 2:19am Sep 29, 2010 2:19am
nevr heard of marex black, and ditto on teh above post
  • #4
  • Edited 2:31pm Oct 4, 2010 2:20pm | Edited 2:31pm
You can easily get 15M on marex within a 1.3 pip spread i believe on their best feed. They have 2 feeds on marex black. one is regular and the other has bigger size. Tell them to show you their bigger feed.

For your viewing pleasure, here is a view of their feed with 15M EUR/USD at 3PM New york time. During london time, it would probably be more
Attached Image (click to enlarge)
Click to Enlarge Name: Marex.PNG Size: 131 KB
  • #5
  • Oct 4, 2010 3:59pm Oct 4, 2010 3:59pm
So, do they have access to EBS liquidity, or ?
________________________________ Errare humanum est
  • #6
  • Oct 4, 2010 4:05pm Oct 4, 2010 4:05pm
Quoting dakoo
You can easily get 15M on marex within a 1.3 pip spread i believe on their best feed. They have 2 feeds on marex black. one is regular and the other has bigger size. Tell them to show you their bigger feed.

For your viewing pleasure, here is a view of their feed with 15M EUR/USD at 3PM New york time. During london time, it would probably be more
The quote prices are different from the bid and offer summary?
  • #7
  • Oct 4, 2010 10:23pm Oct 4, 2010 10:23pm
Quoting jrsub
The quote prices are different from the bid and offer summary?
The quote on the top is the best spread, less than a pip usually 5M or a bit less. The quotes below are the spread for 15M EUR, which is slightly higher but around 1.3 During london hours I believe you can get 20M on 1.3 I'll check later . This is their live untradeable feed for high volume traders. I don't trade with them though, was just interested in having a look. They sound quite solid, segregated accounts, EBS prime, Currenex, a few banks and their prime brokers are Rabobank, Citi and RBS. If only their account opening balance had been 20000 instead of 50000 I would've opened with them

Cheers
  • #8
  • Oct 5, 2010 12:45am Oct 5, 2010 12:45am
Quoting dakoo
The quote on the top is the best spread, less than a pip usually 5M or a bit less. The quotes below are the spread for 15M EUR, which is slightly higher but around 1.3...
What leverage / credit line do they offer ? I was in talks lately with JP Morgan, London. 1:40 no problem on 2 million USD balance...
________________________________ Errare humanum est
  • #9
  • Oct 5, 2010 3:28am Oct 5, 2010 3:28am
Quoting MisterTrader
What leverage / credit line do they offer ? I was in talks lately with JP Morgan, London. 1:40 no problem on 2 million USD balance...

Marex gives 1:100 i think. So you're a heavy hitter MisterTrader. Cool. 1:40 is great by the way. Dealing with JPMorgan takes you directly to the source of the liquidity. Marex is a tier 2 broker, so their commissions and prices would be marked up. JP Morgan is the better deal of the two by far.
1.Did you go to JP Morgan directly or go through a mini prime?
2. Either way, what sort of daily volume do they expect from you?
3. Do they actually have the mythical 25M on 1 pip spread? more?
4. Would you be using the ecns through them or their flagship MorganDirect? any comparisons?
5. Is their offering with commissions like 20/million or all costs in the spread on their Direct platform?
If you have the moolah for JPmorgan, don't even say marex's name in the same breath. BTW, also talk to BARX, the barclays fx offering, looks impressive. Perhaps better than JP Morgan.

Thanks
  • #10
  • Oct 5, 2010 3:31am Oct 5, 2010 3:31am
BTW on MAREX, 20M euros at 1.1 pips 30 minutes before london open. not bad at all. I don't know what sort of commissions marex charges though.

cheers.
  • #11
  • Oct 5, 2010 3:35am Oct 5, 2010 3:35am
Mister trader, could you please post a screenshot if you have access to JPmorgan feed of their platform and liquidity? I would really like to see what sizes they have on 25M on all majors. Be sure to edit out your screenname.

See you.
  • #12
  • Oct 5, 2010 3:41am Oct 5, 2010 3:41am
Quoting dakoo
Marex gives 1:100 i think. So you're a heavy hitter MisterTrader. Cool. 1:40 is great by the way. Dealing with JPMorgan takes you directly to the source of the liquidity. Marex is a tier 2 broker, so their commissions and prices would be marked up. JP Morgan is the better deal of the two by far.
1.Did you go to JP Morgan directly or go through a mini prime?
2. Either way, what sort of daily volume do they expect from you?
3. Do they actually have the mythical 25M on 1 pip spread? more?
4. Would you be using the ecns through them or their flagship...
You guys are the big traders huh?
  • #13
  • Oct 5, 2010 3:50am Oct 5, 2010 3:50am
Marex also seem to have impressive 5M on 2 pips on crazy exotics like USD/AED, USD/CZK, USD/BHD.. 5 pips on USD/DKK .... anyway. not like anyone wants to trade arab dinars anyhow.
  • #14
  • Oct 5, 2010 3:50am Oct 5, 2010 3:50am
Quoting han_haward
You guys are the big traders huh?
not me han haward.. not me.... yet
  • #15
  • Oct 5, 2010 4:01am Oct 5, 2010 4:01am
hehe. I am just curious how do you find platforms like this. Defiantly not advertised like retail firms.
  • #16
  • Oct 5, 2010 9:24am Oct 5, 2010 9:24am
mostly hearing other traders talk on forums and all. Marex by the way has been a nominee for electronic fx broker awards on fx week magazine for quite a few years. quite prominent in the tier 2 fx space. other than that they are a leading broker in base metals i think.
  • #17
  • Oct 5, 2010 9:33am Oct 5, 2010 9:33am
Marex also has quite a big tradingfloor + prop trading division, in addtion to their broker business. Its the result of a management buyout of the tech branch of the then failing refco.
  • #18
  • Edited 5:25am Oct 6, 2010 5:11am | Edited 5:25am
Right now 1 hour after the london open there is consistently 30M on 1.3 pip spread on the euro. That settles it. These guys are good. maybe when i reach the account minimums, i'll go for them, hehe
  • #19
  • Oct 6, 2010 6:26am Oct 6, 2010 6:26am
Quoting dakoo
Marex gives 1:100 i think. So you're a heavy hitter MisterTrader. Cool. 1:40 is great by the way. Dealing with JPMorgan takes you directly to the source of the liquidity. Marex is a tier 2 broker, so their commissions and prices would be marked up. JP Morgan is the better deal of the two by far.
1.Did you go to JP Morgan directly or go through a mini prime?
2. Either way, what sort of daily volume do they expect from you?
3. Do they actually have the mythical 25M on 1 pip spread? more?
4. Would you be using the ecns through them or their flagship...
1) Directly J.P. Morgan. I have a friend there working for HFT desk.
2) Volume ? I am almost a market maker in several markets.
3) What means "mythical" ? Liquidity is "created" out of thin air if you need it...
4) http://www.jpmorgan.com/mdapi/08BSIL..._MD_intro.html
5) 20/million ? I pay much less...
6) BARX = will check.

Need a Forex Broker for small investors > 100.000 USD investment. Solid Tier 2 would do it...Thatīs why I am asking.
________________________________ Errare humanum est
  • #20
  • Oct 6, 2010 6:33am Oct 6, 2010 6:33am
Quoting MisterTrader
1) Directly J.P. Morgan. I have a friend there working for HFT desk.
2) Volume ? I am almost a market maker in several markets.
3) What means "mythical" ? Liquidity is "created" out of thin air if you need it...
4) http://www.jpmorgan.com/mdapi/08BSIL..._MD_intro.html
5) 20/million ? I pay much less...
6) BARX = will check.

Need a Forex Broker for small investors > 100.000 USD investment. Solid Tier 2 would do it...Thatīs why I am asking.
Small investors. Interactive brokers has 5M 1 pip wide 20/M commission. For bigger size marex seems great in tier 2.
BTW , would JPMorgan be willing to deal with traders bringing in a measly 300M volume per day?
Since you're almost a market maker you're probably doing a lot more, and pay a lot less commissions.
What i meant to ask was whether 20 or 30 M are commonly available at 1pip at places like JP thanks.
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