not anywhere hard as you look for any inkling of spam, you eternal loser
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Anyone ever used Advanced Markets Forex??
- Thread starter PlusMinus
- Start date
not anywhere hard as you look for any inkling of spam, you eternal loser
i didn't know Platform 1 was ChoiceFX software until i saw this post and got to the download page. it seems they didn't want to be clear who provided the platform softwares. i had chosen to demo Platform 2 (Fortex software) thinking both options were variations of the same provider.Quote from Pippi436:
Pricing/spreads look competitive enough. The software is nice too, i have been using platform one(choiceFx) with Hotspot, until they closed their retail branch. Really convenient order-entry, the charts are useless tho.
Platform 2 looks like the same thing Aarontrade/ADM sent me in an email to boast their new spreads.
Its all nice and well, but whats the point when there are firms doing the same thing for half the costs. There are now quite a few firms reselling cnx, Integral or this new Fortex solution but charge northwards of $30/m. Wondering if those get much business, i guess there will be a consolidation sooner or later and not every firm will be left standing in a year or two.
i couldn't find Fibonacci drawing tools on both Platform 1 (ChoiceFX) nor Platform 2 (Fortex) and ChoiceFX only a few more indicators than Fortex. with such lacking technical charts, the savings from the low spreads and commissions may have to be used to pay 3rd party charting software like eSignal or IntelliChart. i would rather forgo the low spreads for the convenience of good chartings from MetaTrader4 or DealBook360 (my current broker).
bstay: but that's the case with most ecn platforms, most of them don't have charts at all, and if they do have charts, its pretty barebone. Its execution only, desiged for the pro segment which is supposed to have their own means of analyzing the market, through what ever software they deem appropriate.
thanks for the explaination ......Quote from Pippi436:
bstay: but that's the case with most ecn platforms, most of them don't have charts at all, and if they do have charts, its pretty barebone. Its execution only, desiged for the pro segment which is supposed to have their own means of analyzing the market, through what ever software they deem appropriate.
Quote from AMIFX:
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. AMI IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. THE PRICES AMI OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE.
ALTHOUGH AMI IS THE COUNTERPARTY TO EACH OF YOUR TRADES, AMI LIMITS RISK TO ITSELF BY INSTANTANEOUSLY OFFSETTING THE TRADES AND POSITIONS IT ENTERS INTO WITH YOU WITH A BANK OR INSTITUTIONAL MARKET MAKER. AS A RESULT, AMI DOES NOT PROFIT WHEN YOU LOSE MONEY ON A TRADE. RATHER, AMI IS COMPENSATED BY MARKING UP THE PRICE IT RECEIVES FROM THE BANK OR INSTITUTIONAL MARKET MAKER.
Advanced Markets is not aware of any other broker allowed to use this language.
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Is that really the case or just marketing hype ?
Advanced Markets is not an ECN. Just to clarify, ECN's match client to client, which is why many times trades only get filled for what there is a match for. In other words, if you want to execute a trade for 1 mil, and a client has a resting order for 100k , and you match that trade , you only get filled for 100k. ECN's also take in hedge fund pricing, and clients posting orders. These hedge funds, and the way the banks price ECN's, allow last look at the trades before executing, which leads to high rejection rates if they do not like the flow. At Advanced Markets, all trades are executed by banks only. No last look. So if the bank posts a price, that is a live executable rate. This results in very few rejections, usually only if there is a technology problem at one of the banks. In response to the platforms of Currenex, Fortex, etc.. These are just software companies, and are only as good as the pricing or liquidity coming in. Rejections, spreads, performance are all a result of the Brokers or FCM's relationship with the banks and liquidity providers.
Quote from Pippi436:
Still - its too expensive. Others start with $20/m and go down from there. Granted, most require a higher inital deposit and you can't trade miniscule amounts there. This fee schedule just isn't viable - considering the competition.
Pippi,
I agree with you. However, if the spreads are even 1/10th tigher, the brokerage fee is washed out. Don't get obsessed with the fees. Look at the overall spreads and more importantly execution. Being able to get in and out of the market when i want is worth the money. I plan to test ami's demo and post comments at a later date.
I agree, if execution is 0.1 to 0.3 pips better on average, the fees are not that important. But it's really hard to tell on a 0.1 pip level which firm provides better fills in the longer term. I wouldn't know how to do a fair comparison between 2 firms on such a small level (guessing you would have to use api since you can't click this fast).