Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Cheapest ECN Comissions - Vantage FX ECN 10 replies

The BEST ECN Brokers... (GAIN GTX) ? 1 reply

PFG Best MT4 ECN 5 replies

Once and for all, who is the best ECN?! 14 replies

The best ECN broker to move to from MT4 brokers. EA trading must be supported 8 replies

Attachments: Best ECN
Exit Attachments

Best ECN

Quoting saj1011
As it happens i have a Bloomberg terminal and am aware of Pro-Realtime, however mt4 is an all in one automated package, which is the main attraction (know any better ones ?). The main challenge I am finding with MT4 is using a good broker with low and reliable spreads (this is the holy grail perhaps and not the EA!).
i think alot of people would disagree MT4 is crap.

Dukascopy offers Jforex, but i am not a programmer and know little of java man !
So ideally I will stick with mt4 for a while, until something better comes up !
Cheers !
If you can afford a bloomberg subscription (how much are u paying for that by the way?) I'm sure you afford to have a programmer code your system in java. Lots of programmers around - try odesk.com, freelancer.com for example.

And in a sense, you are correct that MT4 isn't 100% garbage, it's the MMs that are hooked up to it that are.

I guess some pros of it would be it's fairly lightweight and lots of people have coded indicators, etc. for it that one can download for free. It's backtester leaves a bit to be desired, however. And getting clean tick data (in general) in sufficient amounts from MMs is damn near impossible making back-testing in MT4 a somewhat futile affair.

That said, it is still a limited charted application and most MT4 brokers don't offer a whole lot in the way of comm. FI, equities, etc. Even the ones that do offer such, MT4 itself limits the amount of charting analysis one can do within it especially in regards to inter-market analysis.

As for you query about do I know of a broker/charting software that offer all-in-one solutions...You could try ninja trader. It can be connected to a large number of brokers/MMs via API. Also offers auto-trading. Same for Amibroker, which I personally like.

I don't use EAs so this isn't a concern for me, though.


Just my opinion...
wrt Cantor: they sent me a live-view login, but pricing is definitely different from what they show on their website with delayed prices. Spreads aren't that bad, but a little less tight than on the website, and liquidity is way less. on the website theres often +10M on the best bid/offer, in the liveview theres only 15M total in the eur/usd book, and most of the time <10M in cable. Commissions start at 30/mil. If the liveview is all there is, its nothing to write home about. Not all that bad, but not exciting either.

I asked about the discrepancy, the sales-lady said she would inquire with IT and get back to me. I suppose she is off today to watch kate & will or something. Maybe the website-feed is only for accounts with very high minimums.

The login for the liveview is through the cnx website (with certificate and all that), so i suppose its fxtrades, but apparently that is not a guarantee for a high-quality hub.
I think that Dukascopy is a very good broker but i don't know if it ' s really ECN
Quoting shrike
wrt Cantor: they sent me a live-view login, but pricing is definitely different from what they show on their website with delayed prices. Spreads aren't that bad, but a little less tight than on the website, and liquidity is way less. on the website theres often +10M on the best bid/offer, in the liveview theres only 15M total in the eur/usd book, and most of the time <10M in cable. Commissions start at 30/mil. If the liveview is all there is, its nothing to write home about. Not all that bad, but not exciting either.

I asked about the discrepancy,...
This was effectively the same experience I had with a CNX prime I tried a few years back (except it was between a live-view test feed, and funded account live-view). Almost seemed like bait & switch..

Let us know what you hear back from their IT.
Quoting Trader KGB
They ended their partnership awhile back, FXOpen ECN is a separate feed now.
It's good that fxopen is still an ECN.
Quoting shrike
wrt Cantor: they sent me a live-view login, but pricing is definitely different from what they show on their website with delayed prices. Spreads aren't that bad, but a little less tight than on the website, and liquidity is way less. on the website theres often +10M on the best bid/offer, in the liveview theres only 15M total in the eur/usd book, and most of the time <10M in cable. Commissions start at 30/mil. If the liveview is all there is, its nothing to write home about. Not all that bad, but not exciting either.

I asked about the discrepancy,...
Very interesting! I can't even be bothered to pursue this avenue since the guy at Cantor didn't reply back with some semblance of an answer as to why he said CNX doesn't offer charts, when they do...

And frankly, after reading your perspective on their website vs. actual, it doesn't seem like it's worth th effort to follow up with them again. Nonetheless, look forward to hearing the IT person's reply.

Cheers,

Venge
Quoting Vengeance
Hey Flash! Hope you've been well and the markets are treating you kindly!

Yeah, when I read his rply on that, I just shook my head a bit and sighed. I sent him an email back with a screenshot from CNX of charts. Haven't heard back from him yet... haha Maybe feels a bit embarrassed...

I started off trading with Hotspot, until they closed their retail arm...Would love to go back as always liked their platform and still like it (assuming it hasn't changed a whole lot in the last couple of years) over CNX.

Any idea what their mins. are?

Cheers,

Venge...
Ive been very well, thank you...I assume you have been doing well yourself also.
-
In the past year Ive been dealing with CX extensively and been talking, discussing and arguing with people there and came to the conclusion that they dont have the best interest for their clients (brokers and traders) and imo: are very opportunistic and dont tell the whole truth. Basiclly they are just an ordinary "prop-shop" and do anything to make their own partners (the banks) happy whatever it takes. They admitted to me they lied in the end!

Even tho I like the platform and their technology and support its their business (model) and management that I dont like a bit.

Also they sell their fxtrades hub as a client 2 client order-book only, this is not the truth; they have the ability to stream banks in there (anon ofcourse). So even if you think you are hitting a limit order from a trader, you can hit an order from a bank and hold it and reject it. (Im not talking here about the aggr disclosed bank streams that you can hook up on your own)

Anyway the above is solely my own subjective conclusion and I dont represent it as the absolute truth, just my own experience and opinion.

That is the one of the reasons why I left CX, but at the same time I dont need them anymore to get disclosed banking stream, as I can get them directly and use them in my own platform; saves me commission. Also there are other places where you can disclosed streams, like FXAll - next to the undisclosed streams.
-
Also Im more and more liking anon trading models as a taker, especially Solid FX and Hotspot; the liquidity has improved over the last 2 yrs and spreads are very tight and its more difficult for banks to counter you (at CX the banks see who you are, since its disclosed). FXAll is pretty good as well, but not sure yet.

The platform is different then from the retail. If you are at LCG you can ask them to provide your Solid FX and/or Hotspot as well.

But like every broker, also Solid FX and Hotspot can add/remove liq streams (depending on trading models). So Im not sure if LCG has all the liq streams in there, but I guess they do - at least for the GUI they should; for API users they usually tune the streams away.
Here's a question. Just ask urself this. Where else can you get an ECN with MT4, with 500:1 leverage? The only one I'm aware of is Fxopen.
Enter Signature
flashcall: i think the main problem here is that the FX ECNs do not publish authoritative rulebooks about how exactly they execute orders, like exchanges do, so one has to rely on second hand information, or what (more often than not) clueless sales and mkting people tell you.

Ideal would be straight FIFO markets with central limit order books, like ebs or CME. I believe hotspot does the same, but, again, they dont provide public information, so effectivle, its just a rumour. On the retail side, lmax appears to do that. They even have a rulebook.
Quoting shrike
flashcall: i think the main problem here is that the FX ECNs do not publish authoritative rulebooks about how exactly they execute orders, like exchanges do, so one has to rely on second hand information, or what (more often than not) clueless sales and mkting people tell you.
The main problem are (most of) the banks...they make up the low level rules how they see fit. Aggr. ecn's are just going with those rules as they need to generate volume for make money...

You cannot make business decisions on second hand info...so I assume one is smarter then that...and obv you dont solve problems you have with a company you do business with only with your sales rep...

Quote
Ideal would be straight FIFO markets with central limit order books, like ebs or CME. I believe hotspot does the same, but, again, they dont provide public information, so effectivle, its just a rumour. On the retail side, lmax appears to do that. They even have a rulebook.

You can place limit orders at every ECN - CX FXtrades hub, Hotspot, Solid FX, Baxter and whatever more...BUT that doesnt mean that the one that is taking your trade is another client...your limit order can be crosses with a streaming bank as well and then there is no guarantee for a succesfull fill; except for the natural/"interest only" FX ECN which is EBS and Reuters. So if you really want to trade FX with an orderbook, like in equities, and see the "real" orderflow then your only bet is EBS and Reuters, since all other quotes from the banks/brokers/platform derives (and quoting inside the spread) from those two ECN's.

The only two positive things about clients limit orders at whatever ECN is that you cannot get rejected and you cannot be shutdown if you are arbing the prices from those orders.

The reason why I dont trade on EBS or Reuters is that I dont care about the natural market or FX orderflow...I just want to get the best price from whatever source for whatever amount Im looking for at that specific time...EBS and Reuters arnt the best places to get the best price...but they are the best place to do same huge volumes (and move the markets - effects every bank/broker/platform)...
Quoting vosterfxandy
Here's a question. Just ask urself this. Where else can you get an ECN with MT4, with 500:1 leverage? The only one I'm aware of is Fxopen.
IamFX 400:1 leverage, STP, MT4.
Quoting HankT
IamFX 400:1 leverage, STP, MT4.
That isnt an ecn...
Hi Flash,

Things are going well here, too! Thanks for all these insightful posts.

What are terms of trade at solidfx? FXall?

Cheers,

Venge.
Hey Flash, nice to see you here, glad things are going well.

Quoting FlashCall
except for the natural/"interest only" FX ECN which is EBS and Reuters. So if you really want to trade FX with an orderbook, like in equities, and see the "real" orderflow then your only bet is EBS and Reuters
There was some discussion on this topic earlier on in this thread. With regards to Hotspot, is their liquidity also directly executable like CME/EBS/Reuters? Basically, is the liquidity 'on the book', or STP'd like the retail ECNs/CNX/etc? How about the rest of the field for that matter (SolidFX, Baxter, FXall, etc)?
Quoting Trader KGB
Hey Flash, nice to see you here, glad things are going well.


There was some discussion on this topic earlier on in this thread. With regards to Hotspot, is their liquidity also directly executable like CME/EBS/Reuters? Basically, is the liquidity 'on the book', or STP'd like the retail ECNs/CNX/etc? How about the rest of the field for that matter (SolidFX, Baxter, FXall, etc)?

Hey KGB...

Their liq. is ALSO directly executable, however you wont know beforehand (unless you ask them to strip down the streaming banks). Orders above 500K will go into the book, but this is together with streaming banks (STP).

The rest has the same model...its a combination with book orders and banking streams... Hotspot - in think- is larger then those other names, so more participants, so more chance for limits in the books.
Quoting vosterfxandy
Here's a question. Just ask urself this. Where else can you get an ECN with MT4, with 500:1 leverage? The only one I'm aware of is Fxopen.
Why haven't you been banned already ? This is getting ridiculous.
Quoting vosterfxandy
Here's a question. Just ask urself this. Where else can you get an ECN with MT4, with 500:1 leverage? The only one I'm aware of is Fxopen.

if they offer 500:1
there is NO WAY they are a ECN
Bulls are stupid Animals!especially when Im short!
Quoting Traderlarry
Why haven't you been banned already ? This is getting ridiculous.
haha! My thoughts exactly! Voster, we are aware that you think FxOpen is the best venue, in your misguided world. Please stop spamming us with your completely useless and irrelevant posts.
Quoting roughtrader
if they offer 500:1
there is NO WAY they are a ECN
Is there some universal standard that says an ECN broker cannot offer 1:500? If they have access to the lines of credit, they can.
Quoting jafar00
Is there some universal standard that says an ECN broker cannot offer 1:500? If they have access to the lines of credit, they can.
Who do you think lines of credit are issued from? Banks, correct? So in this world of credit crises do you think banks are extending some FX broker in God knows where, lines of credit sufficient enough to offer small retail clients who are the most risky traders, 500:1 leverage?

Of course not! The ECN (or let's just call it the market maker) is offering the leverage themselves for very obvious reasons.
0 traders viewing now