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FxPro xTrader ECN

  • #41
  • Apr 16, 2011 5:31pm Apr 16, 2011 5:31pm
Execution Venues

Execution venues are the entities within which the orders are placed or to which FxPro transmits orders for execution on behalf of a client. For the purposes of orders for the financial instruments provided by FxPro, we act as principal and not as agent on the client's behalf. Even though FxPro may transmit your orders for execution through its ECN platform to liquidity providers this is done in the name of FxPro and contractually the company is the counterparty to your trades. Therefore, FxPro is the sole execution venue for the execution of the client's orders.
  • #42
  • Apr 19, 2011 1:51am Apr 19, 2011 1:51am
Quoting s1quash
Execution Venues

Execution venues are the entities within which the orders are placed or to which FxPro transmits orders for execution on behalf of a client. For the purposes of orders for the financial instruments provided by FxPro, we act as principal and not as agent on the client's behalf. Even though FxPro may transmit your orders for execution through its ECN platform to liquidity providers this is done in the name of FxPro and contractually the company is the counterparty to your trades. Therefore, FxPro is the sole execution venue for...
Please dont copy paste same questions. Below is my explanations/thoughts on this:
http://www.forexfactory.com/showpost...8&postcount=13

My 0.02$ is that you are trading via fxpro's aggregated account, i.e. with LPs but not via your own account, so they had to put it that way. Phrasing is mess up and confusing, i agree thou.
  • #43
  • Apr 19, 2011 5:29pm Apr 19, 2011 5:29pm
Quoting squaw
On a serous note, i am playing with xtrader - and execution totally rules, no comparison to mt execution.
I am also playing with xtrader, right now - this platform is a very basic and low-quality stuff:
- can't superimpose one indicator over another, e.g. Trix on Momentum
- can't put any oscillator on a price chart, e.g. Momentum
- can't write my own studies
- no ray / extention of a line
- drawing tools are less than basic
- only time resolutions are available (no volume, tick, range, renko and other bar resolutions possible)
- can't create non-standard time resolutions, e.g. 55 second bars
- can't backtest and optimize, not to mention doing some walk-forward testing
- no volume indicator, although you can select volume indicator's colour - funny one
- very poor bar compression / decompression
- .......

This is a platform for 5 year old traders. It is a toy. And yet:
- these guys leave you a feedback option 'What do you like about xTrader'
- these guys claim on their website that 'xTrader is an advanced online ECN trading platform with sophisticated, user-friendly functionality'

Funny guys!
  • #44
  • Apr 19, 2011 5:45pm Apr 19, 2011 5:45pm
HAHAHAHAHA You can't make this stuff up.

Quote from their website: http://xtrader.com/about/our-vision

'A word to our Competitors
Not only have we learned from your mistakes, but they were the reason why xTrader was born. Thank You.'


I already like their sense of humour
  • #45
  • Apr 19, 2011 7:14pm Apr 19, 2011 7:14pm
Quoting Karl_Vosp
HAHAHAHAHA You can't make this stuff up.

Quote from their website: http://xtrader.com/about/our-vision

'A word to our Competitors
Not only have we learned from your mistakes, but they were the reason why xTrader was born. Thank You.'


I already like their sense of humour
you are a genius
  • #46
  • Apr 20, 2011 7:48am Apr 20, 2011 7:48am
I guess you are an employee of MultiCharts. Since seeing your posts, you are shitting on everyone except them. You shit on JForex, xTrader on everything you stumble-upon.
Anyway, you give pretty clear flaws of the xTrader platform. But i would suggest trying out fxall, currenex, mbt desktop - other ECN trading platforms and you will see how limited they are. And they are from companies who have been YEARS in the industry. Try trading without charts.
I am trading live, with fxpro xtrader. I've opened a LIVE account with a minimum deposit weeks ago. Everything nice and dandy.
As for the platform - i like it. MetaTrader wasn't released with the features it has now when it was v1.0 I hope in time, they will add features you have mentioned.
So chill out biach - stay with MC, if other platforms give you a headache. Peace
May the Force be with You
  • #47
  • Apr 20, 2011 10:17am Apr 20, 2011 10:17am
Quoting alex_000
I guess you are an employee of MultiCharts.
I am not an employee of Multicharts whose product I indeed applouded and use everyday. I like their plaform for feature-richeness and ease of use, which I think is not a crime.

FYI, neither am I an employee of Ninjatrader whose product I also applouded and use everyday for trading.

Quoting alex_000
You shit on JForex, xTrader on everything you stumble-upon.
I consider this opinion unfair. I criticise Jforex for reasons (bugs) which I documented well in a separate thread. I do not shit on xTrader. I only apploud the sense of humour of this platform's developers.

Quoting alex_000
Anyway, you give pretty clear flaws of the xTrader platform.
I tried this platform for 15 minutes and removed xTrader from my PC immedately after testing. This platform is very immature, but due to its feature-nakedness is probably less buggy than Jforex.

Quoting alex_000
But i would suggest trying out fxall, currenex, mbt desktop - other ECN trading platforms and you will see how limited they are.
Tried and dumped for similar reasons why I dumped xTrader.

Quoting alex_000
And they are from companies who have been YEARS in the industry.
I find this a loughable excuse for xTrader's developers who claim their platform is 'sophisticated'

Quoting alex_000
As for the platform - i like it.
And this is your personal preference to like this platform. I presented objective evidence of this platform being immature. There is no shitting on my end. Just objective evidence, which anybody can check by themselves.

Quoting alex_000
So chill out biach - stay with MC, if other platforms give you a headache. Peace
xTrader is so basic it can't give anyone any kind of headace.
  • #48
  • Apr 21, 2011 5:03pm Apr 21, 2011 5:03pm
Just wondering how FXpro is going to explain these spikes which I do not see on my live Alpari nor on the demo MT4 FXpro account.
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  • #49
  • Apr 22, 2011 9:16am Apr 22, 2011 9:16am
volatility on market, liquidity?
dont mix ecn charting (these are actual prices that you are trading on w/banks, so whatever the price is on the market/stream - will be what you see on charts). correct me if i am wrong. btw what pair is that?
  • #50
  • Apr 22, 2011 10:04am Apr 22, 2011 10:04am
Quoting squaw
volatility on market, liquidity?
dont mix ecn charting (these are actual prices that you are trading on w/banks, so whatever the price is on the market/stream - will be what you see on charts). correct me if i am wrong. btw what pair is that?
It is on EURGBP.
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  • #51
  • Edited 10:40am Apr 22, 2011 10:26am | Edited 10:40am
Quoting artov
Just wondering how FXpro is going to explain these spikes which I do not see on my live Alpari nor on the demo MT4 FXpro account.
these means sometimes a limit order far away becomes first bid or first ask. The same kind of spikes you find using MBT . This is how an ECN works , if there is no liquidity that will show up . I think traders should understand the type of executions that retail forex brokers use: market maker , NON dealing desk and ECN or ECN/STP.
  • #52
  • Apr 22, 2011 1:49pm Apr 22, 2011 1:49pm
Seems odd to me that billions worth of bids and asks briefly disappear from the market. If that's the case, all the stops in between the spikes would get hit which means accounts got blown up or severly damaged.

Quoting Rfbfx
these means sometimes a limit order far away becomes first bid or first ask. The same kind of spikes you find using MBT . This is how an ECN works , if there is no liquidity that will show up . I think traders should understand the type of executions that retail forex brokers use: market maker , NON dealing desk and ECN or ECN/STP.
  • #53
  • Apr 22, 2011 2:50pm Apr 22, 2011 2:50pm
Quoting artov
Seems odd to me that billions worth of bids and asks briefly disappear from the market. If that's the case, all the stops in between the spikes would get hit which means accounts got blown up or severly damaged.
exactly the case!! read about complain on slippage on MBT thread or just TRADE on RETAIL ECN. Also billions worth of bid and ask are in your immaginations. ON eur-gbp on a retail ECN sometimes the volume of the bid or the ask could be less the 3 milions . If the first ask remove the offer and there is nobody there the first level as i said will be the first limit sell order in the book. This happens quite frequently.
  • #54
  • May 4, 2011 8:24am May 4, 2011 8:24am
Quoting Rfbfx
exactly the case!! read about complain on slippage on MBT thread or just TRADE on RETAIL ECN. Also billions worth of bid and ask are in your immaginations. ON eur-gbp on a retail ECN sometimes the volume of the bid or the ask could be less the 3 milions . If the first ask remove the offer and there is nobody there the first level as i said will be the first limit sell order in the book. This happens quite frequently.
Right, what about the iceberg orders? majority of banks prefer not to completely disclose their exposure i.e. liquidity that they throw to the market, thats why there should be hell lot more liquidity that what you see in level 2. plus to that, there are market orders that are being thrown to the market...

i dont think that being left without a liquidity is the case. plus for the mt4 users, 3 mil = 30lots which is a very decent order size for retail *i guess*.

anyways, anyone else to share xtrader exp?
  • #55
  • May 4, 2011 8:37am May 4, 2011 8:37am
Quoting squaw
Right, what about the iceberg orders? majority of banks prefer not to completely disclose their exposure i.e. liquidity that they throw to the market, thats why there should be hell lot more liquidity that what you see in level 2. plus to that, there are market orders that are being thrown to the market...

i dont think that being left without a liquidity is the case. plus for the mt4 users, 3 mil = 30lots which is a very decent order size for retail *i guess*.

anyways, anyone else to share xtrader exp?
i might be wrong , so what is your explanations of spikes like the one reported that you see exactly the same on MBT?
  • #56
  • May 4, 2011 8:39am May 4, 2011 8:39am
when i mean exactly i do not mean the same pairs. i mean the same type of phenomen.
  • #57
  • May 5, 2011 1:52am May 5, 2011 1:52am
liquidity, nothing else. my point was that you would still be executed even with a decent order, at 'slightly' different price thou ))

and yes, every one should understand ecn type of execution, you should have enough $ in your account just in case not to get burned at those times.

rfbfx, any other stuff to share on xtrader? im very interested to see others opinion on this platform.
  • #58
  • May 5, 2011 4:53am May 5, 2011 4:53am
Quoting squaw
liquidity, nothing else. my point was that you would still be executed even with a decent order, at 'slightly' different price thou ))

and yes, every one should understand ecn type of execution, you should have enough $ in your account just in case not to get burned at those times.

rfbfx, any other stuff to share on xtrader? im very interested to see others opinion on this platform.
hi squaw , no i do not have a direct experience trading on this platform , so i cannot comment. On the design side it look nice and well thought , even i agree with karl is really basic. But products get better over time.Anyhow i think is a good start on the right direction. Metatrader is not and will never be ( this my opinion) an ecn platform also the bridges had lags to my knowledge. If the fxpro ecn connects directly speed should be much better.
  • #59
  • May 15, 2011 10:55am May 15, 2011 10:55am
Ok have demo account for few days and can someone answer me few questions,i noticed the spread on demo account was usually close to 1.1 and 0.8 plus theres a cost of 30$ per million traded,so whats the real advantage here from this said ECN,as only difference there you can see on a platfrom is some level2 numbers runing every second with liquidity changing on them and doesnt really serving any advantage into looking in to them,as to execution speed OAnda takes split second to process any orders and you get ECN said spreads for most of the time on majors,expect only oandas ripoff is their fees processing costs 20eur per month or more if more withdrawals made.
So lets say if i was to trade small account 1k $ is there any advantage in using fxpro to said Oanda in costs ?Or is that all ECN just made for people with over 10.000 accounts and threres where the real difference comes into play and im just asking noob questions
  • #60
  • May 15, 2011 11:42pm May 15, 2011 11:42pm
ECN is mainly for larger accounts for liquidity/volume purposes. If you do not have enough to purchase wholesale prices/volumes, then the RETAILERs that offer the same products are your only options. They have mt4 platform that may be better suited.
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