Hotspot fxi True E C N

You have to remember that when connecting to an ecn, the liquidity you will see is almost solely a function of WHO you are. So what I might see in terms of prices in hotspot is irrelevant compared to someone else.

In terms of speed, again, for the lower end trader so many of the factors are unique to the individual (comms line speed etc) that it's not easy to say. But it will be fast IF you have fast lines (i.e. their infrastructure is fast, and they don't usually let people even connect if they're not properly equipped to trade in an orderly fashion).

No idea re funds. It's an ecn, so most people don't even lodge any funds with them. I thought that was not the idea with the FXi part of the firm (and didn't someone buy and rebadge the retail offering where one would actually lodge funds.

They're not a bucketshop, anyway. Based in U.S., regulated by the SEC last time I checked. None of this offices in Panama / Cyprus / Bognor Regis rubbish
 
Looks like the best deal for professionals ,trading forms and hedge funds.

Part of a public group Knight Capital Group

Minimum 500k lots

$1 mio account size

Less than 1 pip on euro /usd incl commisions

Better rates than brokers/bucket shops on usd/yen, gbp/usd,usd /chf

Cash mio has to be lodged , no bank guarantees

Here are some spreads to see
 

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I'm still not sure you really get it. This stuff won't always be fixed spread. That's what makes it an ecn. If you have fixed spreads it means it's not Hotspot FXi it's the cut down, retail version of it, and the only similarity really to the institutional version is that it uses the same GUI. Doesn't necessarily make it an ecn.

And the second DBFX thing is just a bloody web based indication source.

ODT - I don't understand you - you seem to profess to be a source of knowledge but you are wrong as often as you are right and I can only assume you have an agenda somewhere. I just can't for the life of me work out what you're selling. Either way, I'm not buying mate.

GJ
 
G J

I am gathering information on broker and execution side.I am learning from your knowledge and posts.

I now understand true ECN and retail ECN.I am beating about the bush to find the best brokerage solution for myself.

I don't sell anything , I have a private trading outfit for my own trading.

O D T
 
Ok - fair enough, if that's the case, but you do seem to put out statements rather than asking questions.....
 
Ok - fair enough, if that's the case, but you do seem to put out statements rather than asking questions.....


Is Hotspot true E C N ?

Is it the best of non true ECNs?

Is it any better than a currenex broker, if a currenex broker's commisions and spread costs are equal to hotspot?Their minimum account size could be a lot lower

What would be your ideal broker choice with $100k?
 
Hotspot FXi is a true ecn. But you will need to be an institutional type client to access that liquidity. Don't know about the retail part of the firm.

Is it the best? Can't really answer that - depends on your individual preferences, trading style / needs etc etc

Don't know about how a currenex 'broker' compares, as that type of operational setup is typically not how wholesale operates.

If I had $100k to invest I'd pick a single bank platform and build a relationship there. One of the big boys - DB, Citi etc etc. I'd have a high value margin acount with a reputable player in the market.

But that doesn't mean my answers are right for everyone.

GJ
 
Don't know about how a currenex 'broker' compares, as that type of operational setup is typically not how wholesale operates.

GJ

Alpari Direct is now offering currenex with low spreads ,10k min account .If there not virtual dealers and if the price I click on is what I get filled at , it would be a good deal.If the price I click on is different to the price I get filled at , thats another story.

O D T
 
As long as you understand that that is not an ecn. If they are saying stuff explicitly related to fixed spreads then it's most likely you just get the functionality of currenex, but with market maker pricing behind (with all that that entails)

At the margin we risk splitting hairs here, as, while a true ecn allows you the possibility of avoiding crossing the spread (as other people can trade on your bid or offer) the simpl fact is that having this happen is a touch hit and miss, especially if what you have is one ecn only. If you spend a few million and build a nice whizzy aggregator then the chances of someone on ONE of the multiple ecns being happy to hit your price increases several fold. But with one, I would treat that eventuality very much as an added bonus rather than a regular thing. Most of the time you're gonna end up matching against a support price, and most e-commerce engines at the banks are still far more passive than active in the aggression blend they input to their auto-hedger, so what that translates to at the downstream level is that you are more likely, if, say you're working a 95 offer in a 93/95 market, to only get hit when an underlying support price engine actully goes 95 bid (at which point, you could probably have sold there at market anyway, so you are crossing their spread rather than the other way round).

All fine distinctions, and if I didn't point this out I think less than 0.1% of the membership here would have an inkling about this stuff - not their fault, it's just reasonably specialised info.

But if you really are desperate to trade shorter timeframes, and also to get the best pricing in order to minimise transaction costs in the long run, this is the level of info that makes the difference.

Hope that helps

GJ
 
Market orders are subject to extreme fills.

Just a small print on Alpari direct.
 

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