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Centralised clearing CME and Reuters is not proven, its apparently going to be some sort of Bond that users will be required to purchase as collateral...what does that mean for the small guys ? You will probably have to be sponsored into it by one of the larger players similar to the CLS...

Why dont banks want open market.. liquidity/spread/money making...banks dont want clients to be knowledable about where the fx market rates are because that means they cant take a spread...remove the ability for a forex desk to take spreads and they lose the ability to make money...that means...

If I had 15 mio capital Id be sitting on a nice island drinking martinis..and thinking about all those tossers at the banks trying to take my money from me by offering nice margin levels .... and driving there BMWs...

Currenex 160 mio 3 pips spread eur/usd/....bs...you obviously been looking at a demo..if thats the case please post a screen dump... Remember Currenex are the software not the broker...so nice liquidity at one broker does not equate to nice liquidity at another...and minimums can change...

what they mean by under swiss regulation is that they are so well hidden from the authorities that they sneak under the swiss regulations :)

Yip of course you are right the banks dont want it..and they will try to do everything they can to delay the process..even DB are stepping into the retail world just recently! We need a centralized clearer before we can really move to an exchange model...each of the platforms have a quasi...

are you trading on a platform? or over the phone...? I would of thought that if over a platform the rates would have been coming from the banks so effectively matched and risk given to the bank right away not FXCM...what it sounds like is that you have managed to pick a few banks off on their...

well I would say thats absolute bs.. Nice spreads doesnt mean nice execution...the spread can be 3 pips all day..but when you try to hit that 32 bid does it comeback your done/done but at 28 cos they went and checked where the market is/or not done... so unless they are giving you a fixed...

Dont trade currenecies, dont trade commodities, dont trade stocks?....can you tell me why your are on a forum called Elite trader?

of course there is a huge chance that it ends up like the futures market..centralized clearing..yes..its part of the way there with CLS. EBS added Hedge funds last year through prime brokerage... Hotspot / Lava already have clients trading with each other...smaller brokers like IB /...

Which platform at FXCM are you talking about anyway? They already state that they take spread on all client trades... If its a request for quote function then of course it makes it a hell of a lot easier for any system to see what your doing before you execute, thus shade the rate one way or...

Thats true but I think the market obligation is to actually advise your clients your are doings so...i.e most retail platforms will print up front ...3 pips spreads no commission and then they tell you in the small print that they are taking a cut on the rate...in this case I hear they are not...

Not bad system, hearing rumours that they are taking spread on clients without telling them and charging brokerage...could be v expensive...

Hearing rumours that on one of the big platforms they are taking a cut on the rates without telling the banks? Unlike some where they tell you its free of commission but rate is spread..they apparently charge a fee but still spread the rates and dont tell you they are doing it.... does it...