EFX Group - Updates

[Sybren]

Will rollovers ever be competitive? I still think 5 USD per 100k traded is a lot, but on the swaprates it's pure robbery. If one trades past cut off time EFX is very very expensive!

 

[FXSCALPER2]

Will rollovers ever be competitive? I still think 5 USD per 100k traded is a lot, but on the swaprates it's pure robbery. If one trades past cut off time EFX is very very expensive!

I know!! It is absurd. If you hold short AUDJPY, you will get fried. You pay something like $28.33 on 2 lots!! And if you hold long? You get $3.56. lol.

 

[Sybren]

Indeed....so if one trades over the cut off and adds the costs of carry the spreads gets wider then any known dealdesk......so long for the argument of being better off with EFX.

If one trades intraday it's not that bad, although 50 USD per mio traded is rather hefty.......half would be more then enough.....

 

[testandinvest]

newbie here and confused as F***!

Sorry for the bad language but am getting really confused, Let me explain if you will.

I perfected a scalping stratagy using a crown forex demo account. It worked really well due to the 1pip spread. I place 50+trades adays and make 50-80 pips (in my account) with a hit rate of 78% typical per day for the first 4-6 hours of trading. I'm based in the UK and I was up at 7am each day for testing .. I managed to keep this up for 5 days straight. Wooopi !!!! .

Then I find out that crown have a no scalping or we'll pip your ass and take you account policy.(even thow I would be making them 50-80pips per day in there spread) Buggered ! I thought, I need to to look into these platforms and find another one. What a can of worms was this, Pip manipulation, pip shading, dealing desks trading against you, Money markets and ECN's. I had the golden chalace of life .. now I have dirty cracked mug of s*&t.

My issue is - my system works, I want to use it! I am quite happy to pay a percentage of my profit if its clear and simple for me to understand what I am being charged (I'm not that good at maths, But I can analyse the **** of anything .. I have Asperges Syndrome a form of autism .. Its means complex physics and IT issues are easy but people are a pain in the **** lol)

So after my rant .. and sorry for that. Can some explain in real terms as in 'Cash in your pocket terms' what the hell there on about when it comes to $5 per 100,000 traded.

My confussion comes from.. I put $1000 in an account with EFX. AT 100:1 leverage I can bet $10 per pip. I understand this .. this is real money This I can cope with. At 1pip spread on a buy of $10 per pip I see my EurUsd chart go up by 2pips. Fantasic I've just made the platform $10 and myself $10. I decide to get out (as I want a beer or what ever).

What is the actual charge on my account, That corrisponds to the $5 per 100,000 traded.

And one other minor question about EFX. Do you get upto the second live streaming price feeds with all the spikes and flickers. A year Ago I had a direct feed from reuters and as you all will know USDJPY is a kamikaze market Wtih radical price flicker. After looking at 4 platforms at the same time I found that the amount of movement varied alot between platforms and so did the price quoted. Price difference was typically 2-4 pips and movement was slow compared to the movement jumps you actually get.


Anyway ... Thanks for readling this and Sorry to go on about it .. but this is my way out of the rat race. all replys are greatly appreciated.


Cheers TI

 

[FXSCALPER2]

Sorry for the bad language but am getting really confused, Let me explain if you will.

I perfected a scalping stratagy using a crown forex demo account. It worked really well due to the 1pip spread. I place 50+trades adays and make 50-80 pips (in my account) with a hit rate of 78% typical per day for the first 4-6 hours of trading. I'm based in the UK and I was up at 7am each day for testing .. I managed to keep this up for 5 days straight. Wooopi !!!! .

Then I find out that crown have a no scalping or we'll pip your ass and take you account policy.(even thow I would be making them 50-80pips per day in there spread) Buggered ! I thought, I need to to look into these platforms and find another one. What a can of worms was this, Pip manipulation, pip shading, dealing desks trading against you, Money markets and ECN's. I had the golden chalace of life .. now I have dirty cracked mug of s*&t.

My issue is - my system works, I want to use it! I am quite happy to pay a percentage of my profit if its clear and simple for me to understand what I am being charged (I'm not that good at maths, But I can analyse the **** of anything .. I have Asperges Syndrome a form of autism .. Its means complex physics and IT issues are easy but people are a pain in the **** lol)

So after my rant .. and sorry for that. Can some explain in real terms as in 'Cash in your pocket terms' what the hell there on about when it comes to $5 per 100,000 traded.

My confussion comes from.. I put $1000 in an account with EFX. AT 100:1 leverage I can bet $10 per pip. I understand this .. this is real money This I can cope with. At 1pip spread on a buy of $10 per pip I see my EurUsd chart go up by 2pips. Fantasic I've just made the platform $10 and myself $10. I decide to get out (as I want a beer or what ever).

What is the actual charge on my account, That corrisponds to the $5 per 100,000 traded.

And one other minor question about EFX. Do you get upto the second live streaming price feeds with all the spikes and flickers. A year Ago I had a direct feed from reuters and as you all will know USDJPY is a kamikaze market Wtih radical price flicker. After looking at 4 platforms at the same time I found that the amount of movement varied alot between platforms and so did the price quoted. Price difference was typically 2-4 pips and movement was slow compared to the movement jumps you actually get.


Anyway ... Thanks for readling this and Sorry to go on about it .. but this is my way out of the rat race. all replys are greatly appreciated.


Cheers TI

Here is a GBPUSD trade with EFX:

sold at 1.9560. spread was 1 at the time . Price went down to 1.9558 offered and you get out. You made 2 pips, or $20 at $10/pip, right? Wrong! you paid a commission of $9.78 when you went short and $9.78 when you cover. So you make a princely 4 cents out of that transaction.

 

[Sybren]

@testandinvest

By the sounds of your story I get the feeling you look at it as being a spreadbetter. Ofcourse there are a lot of similarities but as FXSCALPER2 says and explains is the way EFX works.

Depending on how much your are willing to deposit (1000 USD deposit against 1:100 leverage let's not buy you one lot of GBP/USD) there are better ECN's with cheaper commissions.

 

[FXSCALPER2]

@testandinvest

By the sounds of your story I get the feeling you look at it as being a spreadbetter. Ofcourse there are a lot of similarities but as FXSCALPER2 says and explains is the way EFX works.

Depending on how much your are willing to deposit (1000 USD deposit against 1:100 leverage let's not buy you one lot of GBP/USD) there are better ECN's with cheaper commissions.

Apart from DUkaskopy? Will be good to know.

 

[Sybren]

Currenex and Baxter for example......but ofcourse it all depends on the size of your account and turnover etc.

Dukascopy charges 30 USD per mio traded last time I checked, but I am paying about half of that.

 

[testandinvest]

Here is a GBPUSD trade with EFX:

sold at 1.9560. spread was 1 at the time . Price went down to 1.9558 offered and you get out. You made 2 pips, or $20 at $10/pip, right? Wrong! you paid a commission of $9.78 when you went short and $9.78 when you cover. So you make a princely 4 cents out of that transaction.

Thanks for the reply fxscapler2 .. I get the being tapped from both ends. but this is not what appears in my demo account with crown forex. It showed for a 2 pip move in my favour with a spread of 1 pip @ $10 My account was increased by $10 for that particular trade.

From your Quote above does this mean that the actual pip spread is 0.5 and not 1pip as they crown forex state.

I have looked at HotSpotfx, tring to get my head around a non graphical platform and Have just taken $77 total for 2 trades @ equiv $10 for eurusd and usdjpy and this these had 1 pip spread. This incremented the account less one pip for each trade .. 7 total move on eurousd and 3 on usdjpy

When will they remove the commission from the account ... I would have thought (( wow deja vu .. got to be a good thing )) it would have happened at the point of trade.

I understand what you are saying but it is not what I am seeing the 2 accounts I have open at the moment. any ideas.

and Again thanks very much for the reply

TI

 

[testandinvest]

@testandinvest

By the sounds of your story I get the feeling you look at it as being a spreadbetter. Ofcourse there are a lot of similarities but as FXSCALPER2 says and explains is the way EFX works.

Depending on how much your are willing to deposit (1000 USD deposit against 1:100 leverage let's not buy you one lot of GBP/USD) there are better ECN's with cheaper commissions.

hi Sybren you spot on lol.

I was involved with a sports tipping service that moved in to the forex market, but they charged alot for very little and I got more good info from my own research and limewire lol Well enough to turn a test daily profit regardless of news. lol

Do you know of any ECN with a small account opeing, As I would go with Dukascopy in a heart beat but I'm a small fish and $50K is way too rich for me. I need to buld up to it.

I've just beento currenex.com and they appear to be the gateway for platforms to use. do you know of anythat use the currenex network?

cheers and Thanks for the reply TI

 

[nickerson334]

hi Sybren you spot on lol.

I was involved with a sports tipping service that moved in to the forex market, but they charged alot for very little and I got more good info from my own research and limewire lol Well enough to turn a test daily profit regardless of news. lol

Do you know of any ECN with a small account opeing, As I would go with Dukascopy in a heart beat but I'm a small fish and $50K is way too rich for me. I need to buld up to it.

I've just beento currenex.com and they appear to be the gateway for platforms to use. do you know of anythat use the currenex network?

cheers and Thanks for the reply TI

These are the only ones I have found.


http://www.goforex.net/forex-broker-comparison.htm



Good luck!



David

 

[fxtraderjustin]

EFX Group - March 8th Live Platform Training

New to the EFX Navigator or have questions?

Then you won't want to miss this complimentary one hour webinar hosted by Justin LeBlang from EFX!

This complimentary webinar will introduce you to the use of;

Order Entry - Basic market entry and stops.

Preferences - Default settings and one click execution.

Customization - Personalized layouts for your trading needs.

What are people saying about the last webinar?

"These webinars always provide such wonderful information, thank you so much for taking the time."

Helen - UK

SIGN UP HERE!

https://www.gotomeeting.com/register/453119948

We hope to see many of you there.

 

[fxtraderjustin]

Charting

Hi Guys -

Thanks to FXTrek, EFX is now able to offer a basic free Java charting package to our clients (demo or live) with our data feed incorporated. Take a look and let me know what you think.

Free Charting

Regards,

 

[jacinto]

Hi Guys -

Thanks to FXTrek, EFX is now able to offer a basic free Java charting package to our clients (demo or live) with our data feed incorporated. Take a look and let me know what you think.

http://efx.tradesecuring.com/misc/freeefx.asp

Regards,

hi,

honest feedback:

I really got to say that it is not very appealing. I am probably spoiled with the charting friendliness of metatrader, but that is what I now compare things to.

good you guys have put a chart with your feed, well done

j

 

[fxtraderjustin]

hi,

honest feedback:

I really got to say that it is not very appealing. I am probably spoiled with the charting friendliness of metatrader, but that is what I now compare things to.

good you guys have put a chart with your feed, well done

j

Hi J ~

Of course this is not appealing to all traders, but for traders demoing our platform, here is an easy, simply solution to see charts with the same data feed.

I personally use eSignal, but this is great for the new trader not yet willing to pay a high price for charts.

 

[fxtraderjustin]

Webinar Updates

Hey Guys ~

Couple of webinars I want to make sure everyone is aware of.

1. EFX Group “Sneak Peek” at Project Omega Webinar Tuesday July 24th, at 8pm EST to answer questions about our upcoming Omega product and anything else you’d like to know about Forex execution. For more information about this exciting webinar, please visit; Omega Webinar.

2. Barbara Rockefeller Free Webinar hosted by www.FXticker.com. We've received extremely positive feedback from our clients about the daily Barbara Rockefeller newsletter. This report is offered free to all live EFX clients via e-mail, and Barbara offers this exclusively through us. Since so many people find her material useful, we wanted to let you know that Barbara is also giving a free on-line webinar this Saturday, July 21. For more information about this webinar, please visit; Barbara Rockefeller.

That’s all for now…I hope to see you there.

Regards,

 

[Pabmove]

Hi Justin,

I read somewhere (I don't know if it was on this forum or elsewhere) that you were explaining how to 'trade the news' using MBT orders with some examples. I think you started that thread a few years back. I seemed to have misplaced the link. If you can, would you mind posting the link to the thread up for me?

Thank you.

 

[Pabmove]

Sorry I found the link. Can you post me a link to your policy on news trading again please as the link from Forex Factory has expired or missing.

 

[fxtraderjustin]

Sorry I found the link. Can you post me a link to your policy on news trading again please as the link from Forex Factory has expired or missing.

Our policy is you can trade the news however you wish, but understand the risk associated with such. We always recommended placing soft limit orders.