Trading $3-10 million accounts in forex

[nickerson334]

Hello,

This post is purley for research to understand how trading works
at institutional level.

Scenario

Buying 5000 lots on GBPUSD (i.e. controlling $50,000,000)
targetting a 20 pip profit with a 10 pip stop.

Who is the best broker for this (i.e. tightest spreads, lowest slippage, maximum privacey, honesty etc.).

Thanks for your help.

 

[Directional]

you would want to consider one of the wholesale ECN type platforms such as Currenex, LAVA or Hotspot.

This would enable you to deal on the book with total transparency on a commission basis, and not have to worry about the broker adding pips to the spread for their cut.

 

[Rhody Trader]

Scenario

Buying 5000 lots on GBPUSD (i.e. controlling $50,000,000)
targetting a 20 pip profit with a 10 pip stop.

Two quick points of note. I know this is probably nitpicky but a lot is 100,000 so your 5000 lots would be 500,000,000. Second, since GBP/USD is trading in the $2 area, each lot is worth about $200,000, so your trade size would be about $1 bln in value.

If you're trading that size, you'll have a lot of folks clamoring for your business. :cheesy: