Marex sacked their whole FX desk last year, they dont do fx anymore.
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QuoteDislikedInteractive Brokers maybe but I'm skeptical : they allow small order size, not very good proof of real interban
Disliked{quote} In general, brokers have A-book and B-book. Depends on your trading size you will handle on A-book or B-book. As a professionnal trader, IB will give you the interbank fx market.Ignored
QuoteDislikedBooking is used by Market Makers. IB pretends they have an ECN trading environnement. That's means all particpants have access to the same quote feed and liquidity.
In a ECN, there's no broker, only an agency which match orders between participants.
There's two models :
- either : STP/DMA : the broker STP orders to the interbank market, minimum trade size : 100k of the based currency (IG Matkets)
- or : ECN/STP : the agency match electronically orders, minimum trade size : USD 100K. It depends on ECN. But a good ECN with good liquidity providers...
QuoteDislikedB has institutionnal liquidity pools, how can they accept small orders. Moreover, how do you do to match orders when you can take 11000, 12000 etc. No more structure....
DislikedThe best would be citifx. This is a retail version of their prime broker offereing. As they are a bank prime of prime they would have to be the safest for sure.Ignored
Disliked{quote} The seconds would fixi (dunno what name their using anymore lol), serious business too, last time i checked they had a minimum of 1 million to open an account.Ignored
Disliked{quote} the third would've been Marex Spectron, same as EBS, they just don't take anyone but the minimum account is 500K, they don't seem to offer Forex anymore.Ignored
Disliked{quote} The best way to finish with all these discussions is to centralize forex market... http://theconversation.com/a-central...-rigging-28072Ignored
Disliked{quote} They require 100k {quote} No more FX. What about IG Markets ? Their DMA seems good. I'm going to try them.Ignored
Disliked<p>Citifx isn't what it seems to be... They offer Saxo bank white label... I've heard customers having troubles with their withdrawals. {quote} This what fake ECN want you to know... Genuine ECN is not a broker and so on can't be a MM. The aim of an ECN is to erase the middle man. They have a liquidity pool you can access to and match orders between buyers and sellers. Dukas is tne new generation of MM, nothing more. Too small ordrers you offer as a liquity provider are not sent in price feed.Ignored
Disliked{quote} A Broker like Dukascopy couldn't be a fake ECN. I'm living in Geneva and I can tell you it's just impossible to get a regulation from FINMA by lying. If Dukascopy is known an ECN, it means that they are actually are. SWFX is the Dukascopy liquidity's pool. You can even open an account in some banks and trade trough SWFX without Everiopening a Duka's account. BUT on the other hand, it doesn't mean that Dukascopy can't be your conterpart on some products in some cases. I.e CFDs. A broker may provide an ECN solution to professionnal traders...Ignored
QuoteDislikedAbout FINMA : FINMA doesn't care if you are an ECN or a MM to get the license. They got it because the value of their technology is CHF 20M.
QuoteDislikedOriginally, the genuine ECN are Currenex and Hotspotfx :
- They are never the counterpart of their clients : they match orders, nothing more.
- They do not make price : participants inside ECN make it...
QuoteDislikedThe question is : an ECN can it be the counterpart of their clients and make price ? Here is the conflict of interest.
QuoteDislikedDukascopy says they erase the coflict of interest by providing the same liquidity and price feed to all participants. I'm not completly agree since they make price, they can manipulate prices... It is legal since Forex is over-the-counter market....
QuoteDislikedI just want to say there's a difference between Curenex, Hotspot and Dukascopy... Currenex and Hotspot are pure ECN... It is all I say...