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broker for high volume traders

"interactive, hotspotfx, all the bucketshops etc ... all crap"


I think the OP is on a goose chase here. You think singlebank portals or wholesale ECNs are that much better for 5-10mm trades than those? Maybe you can save a few tenth of pips in spread here and there, maybe you can negotiate a bit better commissions, but thats about it. There is no land of milk&honey.
Quoting petr1029
I erased George from my mobile contacts list, but like I said before... Marex, Baxter, CFH, Man Financials, MilanFX, LCG, ICAP's EBS, Reuters ... none of those cater to nano or micro lots.
I see. Good to know.

Quoting petr1029
But I can imagine Soros's people deal directly with a bank of their choice... say DB's Autobahn dealing desk, or maybe Barclay's Barx?
This is what I suggested earlier, to contact those "BIG" banks like Deutch Bank and etc. But I forgot Barclay's.

Quoting petr1029

Soros also does not scalp I would think... so I doubt he drops market order worth few yards. His people probably accumulate through regular order flow, and for that he could use any broker that has bank guarantee or daily reconciling with his companies' bank accounts.
But then again, Soros' scalping is really like swing trades for us. So yeah any banks would take him.
Make your losses in demo. Earn your profits live.
Quoting shrike
"interactive, hotspotfx, all the bucketshops etc ... all crap"


I think the OP is on a goose chase here. You think singlebank portals or wholesale ECNs are that much better for 5-10mm trades than those? Maybe you can save a few tenth of pips in spread here and there, maybe you can negotiate a bit better commissions, but thats about it. There is no land of milk&honey.
Yeah but the idea is getting rid of as much middlemen as possible and trade in the market directly as a market participant.
Make your losses in demo. Earn your profits live.
Quoting Forexia
Yeah but the idea is getting rid of as much middlemen as possible and trade in the market directly as a market participant.
By getting riskless principal STP you are getting directly to the interbank market. But there is one thing to rememeber - your STP large trades still must have a counterparty, in this case it is going to be a bank (well technically still your broker, because you, the trader, do not have one on one relationship established with the 10+ major banks, but your broker does). By that logic, your ultimate counterparty still can decide whether to take your trade, slip you, etc. Remember, banks are market makers, they are essentially large bucket shops. Barcley's or DB's dealing desk is more or less your microlot market maker bucket shop, but 1000x bigger. They too must manage their risk and hedge with other counterparties (banks) when their internal risk is deemed as too high.

Bottom line, if you want as DMA as possible, without being directly on someone's dealing desk, choose a broker that truly passes your trades through to their liquidity providers. The issue is that some brokers are rather hybrid, i.e. some trades end up in the bucket and some are STP. Thus, if this is really on top of your priority list, find a broker that is truly STP so there is no conflict of interest. You can check with your local regulatory body (CTFC, NFA, FSA, MAS, etc.) to learn more about how your broker handles their trades.

My real world opinion on this is that as long as your broker (MM or ECN/STP) is fair, your trading success lies within you. You will always have a slip here and there, there will always be a case of "my broker hunted my stop - whether this is a reality or not is another story", but as long as the above remains rare, you will be fine. At the end of the day you want a broker to execute your large trades at good price and promptly (I am referring to short term traders or scalpers) at reasonable execution cost, you want your disputes to be handled professionally and lastly, you do not want to have problems with withdrawals or account closing.
Soros- Phibro for commodities and GS for FX
Quoting petr1029
My real world opinion on this is that as long as your broker (MM or ECN/STP) is fair, your trading success lies within you. You will always have a slip here and there, there will always be a case of "my broker hunted my stop - whether this is a reality or not is another story", but as long as the above remains rare, you will be fine. At the end of the day you want a broker to execute your large trades at good price and promptly (I am referring to short term traders or scalpers) at reasonable execution cost, you want your disputes to be handled...
Exactly, I think this pursuit of the perfect 'STP' is actually a bit of a fallacy. My experience shows there are plenty of decent brokers out there that don't fudge you around, nobody hunts my stops.
"I made all my money by selling too soon"
Quoting petr1029
By getting riskless principal STP you are getting directly to the interbank market. But there is one thing to rememeber - your STP large trades still must have a counterparty, in this case it is going to be a bank (well technically still your broker, because you, the trader, do not have one on one relationship established with the 10+ major banks, but your broker does). By that logic, your ultimate counterparty still can decide whether to take your trade, slip you, etc. Remember, banks are market makers, they are essentially large bucket shops....
Thanks.
Good to know. Thanks, Petr1029!
Make your losses in demo. Earn your profits live.
Topdogg: You should trade currency futures. The CME has even introduced micro contracts. But since you're trading 50-60 standard lots per trade, you could easily trade the standard contracts. You're not going to get much differentiation among all the retail forex offerings. And you're not nearly large enough to get access to multiple banks to simulate "DMA" in forex.

As far as what does George Soros does, and most large money management firms do, is dealing directly with the banks (like UBS, DB, MS, BBH). You might shop around electronically through a platform called FXall for "smaller" orders less than 100mio. For larger orders we'd call up our sales coverage at each bank and ask for a two-sided quote. You will get screwed even at institutional levels of you ask for one-way quotes. OTC off-exchange sleaziness is not different at these levels of trading.
  • Post #30
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  • Last Post: Sep 15, 2016 2:21pm Sep 15, 2016 2:21pm
Hello everyone.
I'm sure the OP has found what he was looking for...
I know this thread is now over 5 years old and it is my first post here but I've come across this in my quest to find a broker that:
A. Won't try to screw me and....
B. That would allow me to anonymously place trades so the market makers wouldn't get wind of my trading.

So I started searching and since this thread started a lot of brokers have either fallen by the way side or since Barneys Franks knows more than all of us have to succumb to our federal masters.

Enough revolution talk from me, I came across these guys:
http://www.gaingtx.com/index.shtml
I know it's Forex.com but these guys, according to them are a true ECN broker.
Feel free to check it out.
And I hope this helps anyone that is truly looking for an ECN broker here in the USA.

Oh and in case you are wondering no it's not an affiliate link.
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