My broker increases spread to 4.5pips on EU when trading 25mil. unit | Forex Factory

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My broker increases spread to 4.5pips on EU when trading 25mil. unit

  • #1
  • First Post: Jul 16, 2012 1:24am Jul 16, 2012 1:24am
Take note....citifx increases your spreads...dangerous to trade with them......they are not honest
I have past history of statements to justify what i say.
  • #2
  • Jul 16, 2012 1:43am Jul 16, 2012 1:43am
whos honest?
No place for mistakes
  • #3
  • Edited 10:07am Jul 16, 2012 9:27am | Edited 10:07am
Quoting eu_trader
Take note....citifx increases your spreads...dangerous to trade with them......they are not honest
Their retail side is just pure dealing desk. Go institutional with them if you have the money or just go for other broker which provides ecn. If you are in the us you may check fastbrokers. (i haven't used them though).

Update: Owh gosh i didn't see it 25 million means 250 lots. Maybe there will be some slippages i don't know.
  • #4
  • Jul 16, 2012 9:53am Jul 16, 2012 9:53am
So, in your opinion, whats a fair spread for 20 Mil? Do you think it should be the same as, for example, 100K ?
  • #5
  • Jul 16, 2012 10:05am Jul 16, 2012 10:05am
Quoting shrike
So, in your opinion, whats a fair spread for 20 Mil? Do you think it should be the same as, for example, 100K ?
You should be trading with a proper ecn or even at interbank level if you have the money. Straight through a bank becoming like a broker your self.
20 million equals to 200 lots. I really would like to know this myself. Can you explain to me shriker or anyone?

What is the liquidity per fraction of a point on eurusd in european session. Of course it won't be the same all the time but usually?

My guess there will be some slippages one or two pips...i don't know haven't been there. At least not yet.

Can anyone clarify this to me? Especially those that are already trading at proper ecn/using a prime broker.

Please post or you may pm me.
  • #6
  • Jul 16, 2012 10:20am Jul 16, 2012 10:20am
Quoting shrike
So, in your opinion, whats a fair spread for 20 Mil? Do you think it should be the same as, for example, 100K ?
i just put in 100 billion on the platform on gbp/usd and the spread went to 5.8 not bad if your trading 100 billion thats the max you can trade, i trade the 50k with comm, on 100k lot the spread is 0.6 and i pay $5.40 round turn on that lot, im around 2mill lot so my spreads are 1 to 1.2 not including the comm witch will make it around 1.6 spread
  • #7
  • Jul 16, 2012 10:22am Jul 16, 2012 10:22am
BTW im a happy customer, yeah the spreads do change the higher you trade, i have no problem with them.
  • #8
  • Jul 16, 2012 10:23am Jul 16, 2012 10:23am
Quoting PoundTrader
i just put in 100 billion on the platform on gbp/usd and the spread went to 5.8 not bad if your trading 100 billion thats the max you can trade, i trade the 50k with comm, on 100k lot the spread is 0.6 and i pay $5.40 round turn on that lot, im around 2mill lot so my spreads are 1 to 1.2 not including the comm witch will make it around 1.6 spread
What if you are trading on real ecn or the interbank market using a prime broker?
  • #9
  • Jul 16, 2012 10:28am Jul 16, 2012 10:28am
Quoting Supertrader9
What if you are trading on real ecn or the interbank market using a prime broker?
same thing, the bigger the trade the bigger the spread, lets say your trading 25mill on a ecn, you want to buy 25mill eur/usd, at 1.5500, one LP my quote 5mill at 1.5500 next might quote 1.5501 at 5mill and so on uptill your order is fill, so your average spreads might come out to be 2 to 5 pip spread, like i said im a trader not a whinner
  • #10
  • Jul 16, 2012 10:32am Jul 16, 2012 10:32am
Quoting PoundTrader
same thing, the bigger the trade the bigger the spread, lets say your trading 25mill on a ecn, you want to buy 25mill eur/usd, at 1.5500, one LP my quote 5mill at 1.5500 next might quote 1.5501 at 5mill and so on uptill your order is fill, so your average spreads might come out to be 2 to 5 pip spread, like i said im a trader not a whinner
I thought the fx market is a lot bigger than that?
  • #11
  • Jul 16, 2012 10:35am Jul 16, 2012 10:35am
Quoting Supertrader9
I thought the fx market is a lot bigger than that?
it is, you get about 20mill then you can talk prime broker status, and citi also offer that, untill then you wont see that kind of LQ on no retail platform
  • #12
  • Jul 16, 2012 10:52am Jul 16, 2012 10:52am
On CME you pay 3 to 4 ticks in spread too for 200 contracts (= 25 mil) in eur/usd.

I dont have this problem, but i suppose there are more clever ways to execute such size than doing this with 1 click.
  • #13
  • Jul 16, 2012 10:57am Jul 16, 2012 10:57am
Quoting shrike
On CME you pay 3 to 4 ticks in spread too for 200 contracts (= 25 mil) in eur/usd.

I dont have this problem, but i suppose there are more clever ways to execute such size than doing this with 1 click.
me either, i get in on limit entry and exit when t/p or s/l get hit so i don't know the spread when i get in or out of the market, i don't use market order for entry or exit
  • #14
  • Jul 17, 2012 9:28pm Jul 17, 2012 9:28pm
this is really crap.......makes no sense to increase your spreads......obviously they don't want you to win........if u win alot, they probably freeze your account
  • #15
  • Jul 17, 2012 9:51pm Jul 17, 2012 9:51pm
don't touch citifx......they are scam....they increase your spreads which will be disadvantage to a trader......also, they have very low liquidity
  • #16
  • Jul 17, 2012 10:30pm Jul 17, 2012 10:30pm
Quoting eu_trader
Take note....citifx increases your spreads...dangerous to trade with them......they are not honest
this is how EBS (ICAP) works in reality

the more volume your put the higher spread you get

it is ok

also, you can check it by opening Currenex demo
  • #17
  • Jul 18, 2012 3:16am Jul 18, 2012 3:16am
Wow...that is a huge position for any forex broker
  • #18
  • Jul 28, 2012 10:56pm Jul 28, 2012 10:56pm
Quoting Soldier
whos honest?
Hello ... yes ... and not to be honest - that seems not to be your only virtue ...

You can offer others likewise ...

Isn't it?




;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #19
  • Jul 29, 2012 9:20am Jul 29, 2012 9:20am
Maybe check Ads securities..i heard they will get fsa(UK) license soon.
  • #20
  • Edited 2:45pm Jul 29, 2012 12:53pm | Edited 2:45pm
@eu trader

Why would anyone have all their eggs in one basket, everything with one broker...You're not managing Broker Risk.

The reality is MF Global, PFG Best.

Some traders have more money than common sense.

Next thing Is ...let me guess, you put all that size on at once, "one unit?"

You just slap the Book ....how subtle; and that's maybe a Partial Position? And a position maybe a few units?

And you've been trading how long?

Obviously, Some traders also have more capital than experience.

Next thing Is ...let me guess...You're not discretionary trading....... but actually running an EA on MT4.
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