I haven't used FXDD's powertrader, but it's the same as what many MMs offer as far as CNX technology. As has been said before (by Flash) it is the retail CNX platform not the instit. version.
Regarding DOM between demo and live version, I would almost think that their live liquidity is less... Despite whatever they say about how many banks etc are connected to their liquidity pool, it is likely 2-3 and not 10+ so on larger transactions (maybe 1M+) you will probably get slipped, partial fills and other annoyances.
And to be honest, if you are only trading a few lots or so, DOM likely isn't going to be overly useful and remember that the liquidity that you see is , of course, only indicative of what the bank(s) is/are willing to give them so is far from what you might see on other ECNs like Lava, hotspox etc.
Ok I asked in the broker forum but no catches. SO I thought I would ask here:
Does anyone here have experience with the FXDD powertrader ecn platform (currenex Platform with fxdd ecn bank feeds).
If so I was wondering if the demo shows same market depth as the live version.
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It's almost the same depth and liquidity, but prices are not the same. Spreads of LIVE are a bit tighter(0.1~0.4p) than DEMO's.
Additionally Viking and Powertrader have the same feed.
I've never used FXopen and looked into them a long time ago but after reading a lot of mixed to negative reviews, I dropped them from consideration list as my capital is too important to trust to a broker (any broker) with less than decent reviews, even if the reviews may be less than accurate...
I'm sure I can waste my money myself, and have more fun doing so, without having a broker potentially screw me over.
A question I would pose to anyone is why would you ever consider putting your money with a broker who has many negative reviews especially...
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But the thing is, ever since fxopen became an ECN, they've definitely improved things.
I haven't used FXDD's powertrader, but it's the same as what many MMs offer as far as CNX technology. As has been said before (by Flash) it is the retail CNX platform not the instit. version.
Regarding DOM between demo and live version, I would almost think that their live liquidity is less... Despite whatever they say about how many banks etc are connected to their liquidity pool, it is likely 2-3 and not 10+ so on larger transactions (maybe 1M+) you will probably get slipped, partial fills and other annoyances.
And to be honest, if you are only...
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Would you be kind enough to explain what you mean by DOM?
It's almost the same depth and liquidity, but prices are not the same.
Spreads of LIVE are a bit tighter(0.1~0.4p) than DEMO's.
Additionally Viking and Powertrader have the same feed.
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Thanks for the feedback. So I assume based on my question you are knowledgable with FXDD itself and the 2 platforms?
Do you currently hold your acct with FXDD and if so are you happy with powertrader?
I've never used FXopen and looked into them a long time ago but after reading a lot of mixed to negative reviews, I dropped them from consideration list as my capital is too important to trust to a broker (any broker) with less than decent reviews, even if the reviews may be less than accurate...
I'm sure I can waste my money myself, and have more fun doing so, without having a broker potentially screw me over.
A question I would pose to anyone is why would you ever consider putting your money with a broker who has many negative reviews especially...
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well, fxopen haven't screwed me over so far. Come on, this is pure scaremongering.
Thanks for the feedback. So I assume based on my question you are knowledgable with FXDD itself and the 2 platforms?
Do you currently hold your acct with FXDD and if so are you happy with powertrader?
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It's easy to see these differences if you open a live account.
And no I don't use FXDD now.
To be honest, as far as I know, the best retail Currenex brokerage is CyberAgentFX in Japan. Their spreads are the tightest and no commission, but they accepts people who live in Japan only.
More importantly the Currenex's retail ECN is no more stable than before.
Call it scaremongering if you wish. My point was that if many reviews have been on the negative side, of course taking them with a large grain of salt, why bother trading with them since there are so many brokers out there to choose from?
If a person wishes to give them a shot, that person can feel free to do anything they want. Their money is not mine, so what do I really care?
However, my point was that I like my money and trading is difficult enough without worrying about your broker. So I choose to look elsewhere.
As for them not screwing you over 'so far' as you put it, I am happy to hear that!
the problem with almost all the 'ecns' these days is that they all have a last look facility so the banks can simply decide not to fill your order even if it's been matched to a valid price. cnx has had this in place for a long time. lava have been good till recently but since there's some corp action goig on between them and fxall, the laval platform will soon be gone. hotspot is pretty good if you stick to less than $2-3. Anything more and I get the impression they are using a last look facility. the only platform that might be within reach of cetain retail traders would be ebs via your broker which has no last look facility and a very fast matching engine with restrictions on hfts so you wont get screwed as much. the interface is pretty balls so I would recommend you trade via the api
Agreed that for opening a brokerage account anywhere that missing documents would be a bit of an issue.
However, my problem with Dukas was that I had clarified this with their sales person, and no documents were actually missing, just wanted to use bank statement instead of utility bill as all my utilities are either online or included in my rent (God love Canada for that!).
So if the sales person had said, "Let me double check?" and then said "That isn't possible" I would have had no problem. But instead he said that was fine,...
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Hi Vengeance,
I see your point! I would be hesitant too about going forward. They seem fairly busy, but if you read around, it looks like they have a reputation for not answering questions in the beginning as well and this happened to me too. Very frustrating deciding whether to open an account with them or not.
Call it scaremongering if you wish. My point was that if many reviews have been on the negative side, of course taking them with a large grain of salt, why bother trading with them since there are so many brokers out there to choose from?
If a person wishes to give them a shot, that person can feel free to do anything they want. Their money is not mine, so what do I really care?
However, my point was that I like my money and trading is difficult enough without worrying about your broker. So I choose to look elsewhere.
As for them not screwing...
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Lol, well who said I'm implying fxopen will screw you over ever in the future? Classic.
Call it scaremongering if you wish. My point was that if many reviews have been on the negative side, of course taking them with a large grain of salt, why bother trading with them since there are so many brokers out there to choose from?
If a person wishes to give them a shot, that person can feel free to do anything they want. Their money is not mine, so what do I really care?
However, my point was that I like my money and trading is difficult enough without worrying about your broker. So I choose to look elsewhere.
As for them not screwing...
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I have to say, fxopen does have some bad press. Hence my surprise at the fact that I've been able to withdraw over $10k from them over the past year, no probs.
Oh, where to begin.... I believe your comment "...haven't screwed me over so far." would constitute as implying that at some point they could or you wouldn't need to have added the 'so far' to the end of your comment.
So who implied FXopen will screw you over? Answer: You did! If you don't feel you implied this then that's fine, but your comment can easily be misconstrued to mean such.
Anyway, I refuse to continue this pointless back and forth anymore. I really don't care who you use or your reasons. For accounts of larger size (not micro and mini accounts although I would still think it's important regardless of account size) it is just plain common sense neigh, prudent to do as much homework as you can on potential brokers. The fact I didn't want to use them based on a lot of bad press (deserved or not) and also where they are incorporated is my choice just as the fact you use them is your choice.
As I said, I'm happy you find dealing with them great and am happy that there is no shady business going on. That said, I feel more comfortable using a UK based broker, who from my research has had no negative reviews at all, and in fact has been highly recommended.
I have to say, fxopen does have some bad press. Hence my surprise at the fact that I've been able to withdraw over $10k from them over the past year, no probs.
