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List of all forex liquidity providers?

  • #1
  • First Post: Jul 23, 2013 8:48am Jul 23, 2013 8:48am
Is there one?
  • #2
  • Edited 12:23pm Jul 23, 2013 11:52am | Edited 12:23pm
Quoting justin7
Is there one?
Brokers will do business with some but not all of them, dropping some and swapping for others when clients complained about slippage and spread widening. Some liquidity providers won't fill orders for micro-lots (0.01).
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No longer trading forex. Looking for full time job.
  • #3
  • Jul 23, 2013 4:33pm Jul 23, 2013 4:33pm
mmaker i noticed on your profile your broker is primexm? How do you have an account with them it looks like they aren't a broker or are you with one of the brokers connected to primexm?
  • #4
  • Jul 23, 2013 4:58pm Jul 23, 2013 4:58pm
And should there be more? like integral or lmax? My goal is to have a broker account with a broker connected to every liquidity provider
  • #5
  • Jul 23, 2013 8:10pm Jul 23, 2013 8:10pm
someone replied and said integral and lmax are not liquidity providers and im not sure what that means. well you're right i don't please clarify what are lmax and integral then..?
  • #6
  • Jul 23, 2013 9:05pm Jul 23, 2013 9:05pm
Quoting justin7
someone replied and said integral and lmax are not liquidity providers and im not sure what that means. well you're right i don't please clarify what are lmax and integral then..?

Integral is a software technology company that aggregates prices from banks and non banks.
To connect you need a prime broker or some one who offers credit to enable the system as they aren't a broker perse.

Integral"s customers like Axitrader give you access to Integrals aggregated liquidity pool.

Lmax is an exchange style broker.
  • #7
  • Jul 28, 2013 8:05pm Jul 28, 2013 8:05pm
Quoting justin7
And should there be more? like integral or lmax? My goal is to have a broker account with a broker connected to every liquidity provider
be sure to differentiate between liquidity providers and aggregators
  • #8
  • Jul 29, 2013 5:14am Jul 29, 2013 5:14am
Quoting lasty
{quote} Integral is a software technology company that aggregates prices from banks and non banks. To connect you need a prime broker or some one who offers credit to enable the system as they aren't a broker perse. Integral"s customers like Axitrader give you access to Integrals aggregated liquidity pool. Lmax is an exchange style broker.
I found this list on forexmagnates (I see a lot of them for a first time):

Best FX Liquidity Provider

  1. Boston Prime
  2. LMAX
  3. Saxo Bank
  4. FXCM
  5. MBTrading
  6. Citi
  7. SBI
  8. GKGOH
  9. FCStone
  10. Lucid Markets
  11. ADS Securities
  12. ABN Amro
  13. BNP
  14. Nomura
  15. GSA Capital

I guess, LMAX can be also liquidity provider, it doesn't matter, it's not a bank. You can still have STP link to it, and get your liquidity from it.

  • #9
  • Jul 29, 2013 7:03am Jul 29, 2013 7:03am
Quoting jhehe
{quote} be sure to differentiate between liquidity providers and aggregators
yeah I wasn't really quite sure what the differences were
  • #10
  • Jul 29, 2013 7:05am Jul 29, 2013 7:05am
Quoting mmaker
{quote} Take a look at the 11 threads he started. He really only wanted to know which broker to use for trading news events with the least spread and slippage, and accept U.S. clients. But instead of asking a straight question he started so many troll threads with no real purpose. What's the point of knowing the list of ALL forex liquidity providers? Anyone who works in a bank treasury department can send him a spreadsheet from their Oracle database with a list of 100s of "known" financial institutions accepting order flow. But is there a real...
yeah there is. I wanted to know so I could look into it when researching brokers so I can have access to various places and therefore give myself the most options for liquidity and getting my orders placed.
  • #11
  • Jul 29, 2013 8:02am Jul 29, 2013 8:02am
Quoting meng88
{quote} I found this list on forexmagnates (I see a lot of them for a first time): Best FX Liquidity Provider Boston Prime LMAX Saxo Bank FXCM MBTrading Citi SBI GKGOH FCStone Lucid Markets ADS Securities ABN Amro BNP Nomura GSA CapitalI guess, LMAX can be also liquidity provider, it doesn't matter, it's not a bank. You can still have STP link to it, and get your liquidity from it.
when we talk about LPs as quoted in the list above their are a few different types...

prime of prime (PoP) - a broker with a balance sheet that acts as a credit intermediary for other brokers, i.e. they have a prime brokerage agreement with a tier one, they have the give up agreements with several "liquidity providers" which would be banks, non banks, hedge funds, etc..

These are not real LPs, they are just middle men. the benefit of a middle man is a balance sheet ensures more give ups (more liquidity), usually higher volumes which means better spreads and commissions...

This would be;

  1. Boston Prime
  2. LMAX
  3. FXCM
  4. MBTrading
  5. FCStone
  6. ADS Securities
  7. GKGOH (who..?)
  8. SBI (..??)
  9. Saxo Bank

Then there is non banks, similar to middle men as they will take they risk, make money off it and then pass it on. these are the guys who help to keep spreads tight during news announcements. I see them as recyclers..

  1. GSA Capital
  2. Lucid Markets


Then we have real liquidity providers, banks who warehouse risk and take your trades when EURUSD is dropping like a stone and everyone else has run for cover. When you see 5, 10, 20, 50M sitting in the depth it is all these guys.

  1. Citi
  2. ABN Amro
  3. BNP
  4. Nomura

Does any of the above matter? not a bit. I broke down the above list because im a bit of a wanker..

Worry about trading not LPs. if you're spending time worrying about LPs you are either incredibly good and no one wants your flow or you don't understand how the market works and what your looking for doesn't actually exist (most likely).

  • #12
  • Jul 29, 2013 10:59am Jul 29, 2013 10:59am
the greatest source of liquidity to the forex market is : (1) CLUELESS NEWBIES!!!
  • #13
  • Nov 24, 2013 3:22am Nov 24, 2013 3:22am
May i know how liquidity providers earn money in Forex trading?
  • #14
  • Nov 24, 2013 6:41pm Nov 24, 2013 6:41pm
Quoting masonlee
May i know how liquidity providers earn money in Forex trading?
by making prices and earning the spread.
  • #15
  • Nov 24, 2013 10:11pm Nov 24, 2013 10:11pm
Quoting lasty
{quote} by making prices and earning the spread.
I see, will the liquidity providers loss money?
  • #16
  • Nov 26, 2013 3:57pm Nov 26, 2013 3:57pm
Quoting masonlee
{quote} I see, will the liquidity providers loss money?
Liquidity providers these days internalise the flow and currency match.
Once the exposure gets to big they will offload the risk to the wholesale market.

Yes Liquidity providers can lose money if they price too tight or get run over by aggressive client algo's.
  • #17
  • Nov 27, 2013 12:45am Nov 27, 2013 12:45am
Quoting lasty
{quote} Liquidity providers these days internalise the flow and currency match. Once the exposure gets to big they will offload the risk to the wholesale market. Yes Liquidity providers can lose money if they price too tight or get run over by aggressive client algo's.
Thanks for pointing out that.
Now i know liquidity providers take risk too, just like us as a trader.
Since traders like us can choose the best currency pairs to trade during the best time but liquidity providers have no choice, they just accept what are send to them, i am curious which side having the bigger risk, trader like us or liquidity providers?

Or, in other words, which side loss more money?
I am wondering, if the liquidity providers loss money why they still in this business.
  • #18
  • Nov 27, 2013 6:39pm Nov 27, 2013 6:39pm
Quoting masonlee
{quote} Thanks for pointing out that. Now i know liquidity providers take risk too, just like us as a trader. Since traders like us can choose the best currency pairs to trade during the best time but liquidity providers have no choice, they just accept what are send to them, i am curious which side having the bigger risk, trader like us or liquidity providers? Or, in other words, which side loss more money? I am wondering, if the liquidity providers loss money why they still in this business.
Liquidity providers may lose one day but they have deeper pockets and they will be back the next.
individual punters may not have that luxury and are unable to stay in the game.
Here lies the lesson.. Its imperative that you keep yourself in the game and not throw one big roll of the dice.
Slow and steady wins the race in this fast pace environment.

Good luck
  • #19
  • Nov 28, 2013 3:43am Nov 28, 2013 3:43am
Quoting lasty
{quote} Liquidity providers may lose one day but they have deeper pockets and they will be back the next. individual punters may not have that luxury and are unable to stay in the game. Here lies the lesson.. Its imperative that you keep yourself in the game and not throw one big roll of the dice. Slow and steady wins the race in this fast pace environment. Good luck
Yeah, understand, slow and steady.
  • #20
  • Feb 11, 2014 1:37pm Feb 11, 2014 1:37pm
Quoting lasty
{quote} Integral is a software technology company that aggregates prices from banks and non banks. To connect you need a prime broker or some one who offers credit to enable the system as they aren't a broker perse. Integral"s customers like Axitrader give you access to Integrals aggregated liquidity pool. Lmax is an exchange style broker.
Hi, Could you please explain what is an exchange-style broker?

If I understood your explanation, Integral is an ECN, is that correct? What do you mean when you say they need credit for their sytem to work, don't they just match orders for different banks/organizations?

BTW, do you have any idea where i can find information to really dwell into how the whole FX market infrastructure works? e.g. who are tier 1, tier 2, e.t.c. providers? What are brokers like LMAX? Where the whole sheme eventually ends-up with - who is the final risk-taker?

Thanks!
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