- | Membership Revoked | Joined Sep 2009 | 765 Posts
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
Where can I find a market liquidity EA or indy? 1 reply
This is a good indicator. Can someone please help me find it? 7 replies
How can I find These Values inorder to find resistance and support levels 2 replies
Anyone Know Where I Can Find FAST Free Real-Time News Results? 8 replies
where can I find a list of interest rates for pairs? 3 replies
DislikedTry this if u have enough funds http://www.abnamroclearing.com/en/sp...ing/index.htmlIgnored
Disliked{quote} Yes i doubt this going to happen. Banks have become very selective on which clients they onboard. 10 years ago it was different, basically deposit 1M (some even less) and you were good to go. Rabobank was the go-to bank for smaller firms. But they quit the PB business all together (after one of their clients had an expensive accident), as did a few other banks, others downsized their PB operations and threw out clients that were considered too risky and/or did not produce enough business.Ignored
DislikedThere're several things that PB banks offer single dealer platforms like BARX, Velocity, Neo, etc. 1.Unlimited liquidity, that guarantees execution of clients orders. Usually it's 150m per day but can be increased easily. 2.No partial execution on any size of order, comparing to partial execution of ECN brokers (20m order executed by 15 -20 smaller , be prepared to that) 3. No commissions, only spread based trading. 4. Higher spreads but can be discussed on client's monthly flow. 5. No middle man. 6. No margin, only credit based relations But PB...Ignored
Disliked{quote}Yes. Your country of incorporation shouldn't matter unless it's on a blacklist, but you'll need to show your financials. I guess this will be the same at any bank as they will care more about the reputational risk than the money they can make from your business.Ignored
DislikedBanking KYC process usually takes 2-3 weeks. Money origin is also not a problem, banks accept explanation about portfolio investments, all banks accept BVI and similar jurisdictions, and it's very easy to set up a new company acceptable jurisdiction, takes couple of weeks. The most important if you have enough funds! All the rest can be solved easilyIgnored
DislikedThere're several things that PB banks offer single dealer platforms like BARX, Velocity, Neo, etc. 1.Unlimited liquidity, that guarantees execution of clients orders. Usually it's 150m per day but can be increased easily. 2.No partial execution on any size of order, comparing to partial execution of ECN brokers (20m order executed by 15 -20 smaller , be prepared to that) 3. No commissions, only spread based trading. 4. Higher spreads but can be discussed on client's monthly flow. 5. No middle man. 6. No margin, only credit based relations But PB...Ignored
Disliked{quote} Prime brokers are reluctant to take on clients who don't have at least $25 million under assets. This has come about after the SNB fiasco and credit has suddenly become more important than price. Some Margin FX Brokers who don't have those assets but have large client deposits equally fail the Prime Broker current/updated requirement and have been looking for credit elsewhere. Why? because client funds are "meant" to be segregated even though some "were" used for prime broker collateral. Prime brokers then found out "the hard way" that what...Ignored
Disliked{quote} Funny business is IB charging up to 3 times as much in overnight rollover than FXCM...Ignored
DislikedOne aspect you're overlooking so far is last look vs non-last look liquidity. Other than the LMAX & CME exchanges and the non-last look feeds at EBS/Reuters/Hotspot, every other bank/PB/PoP/ECN's "depth" is really just a complete farce. They could show you 100M deep at 3 pips on every pair if they all wanted to, there's no guarantee any of it is there come execution time. The only liquidity that counts is non-last look, either exchange-based (LMAX/CME) or the platforms with specific non-last look feeds (EBS, Reuters, Hotspot, possibly others).Ignored
Liek I said, the difference between the 2 is earning interest vs. being charged:
FXCM pays you 1.20 USD for each day you hold that position
IB charges you 6.01 USD for each day you hold that position
Btw Trader KGB, it takes 20mns to open demo accounts with both brokers and verify this over a couple of days so don't trust me and do your own due diligence... I hold large positions sometimes over several weeks so that's a topic I've really investigated (sometimes at my own expense).
IB is my broker of choice for futures and sometimes for intraday FX positions, but their overnight financing policy is just plain outrageous...
http://www.interactivebrokers.com/en/index.php?f=interest&p=schedule
Disliked{quote}Btw Trader KGB, it takes 20mns to open demo accounts with both brokers and verify this over a couple of daysIgnored
DislikedI know very well Citi, they accept most of jurisdictions but now they stopped accepting new clients after SNB and looking for a buyer of their FX business. Your half a yard flow is not serious for institutional providers and PB. About UBS and HSBC: you can simply open corporate account with one of them and they will provide you with platform and credit as PB, its the simplest way. Don't tell them anything about trading or something like that, just open current account first. PB allows you to choose one platform to use. Don't know the spread for...Ignored
DislikedOne aspect you're overlooking so far is last look vs non-last look liquidity. Other than the LMAX & CME exchanges and the non-last look feeds at EBS/Reuters/Hotspot, every other bank/PB/PoP/ECN's "depth" is really just a complete farce. They could show you 100M deep at 3 pips on every pair if they all wanted to, there's no guarantee any of it is there come execution time. The only liquidity that counts is non-last look, either exchange-based (LMAX/CME) or the platforms with specific non-last look feeds (EBS, Reuters, Hotspot, possibly others).Ignored
Disliked{quote} Thanks again for the answers. Opening an account and then talking with the bank about trading is a very interesting approach and it hadn't crossed my mind. Thank you. Is there any way to learn about their product offerings before in fact becoming a client? That is, getting live streams, examples of RFQ prices, and other things like that. What kind of deposits and volumes are the tipping point to start looking to establish relationships with the banks?Ignored