Broker Where I Can Trade 100mill Per Click
- Thread starter Moe27
- Start date
If so, then our ICAP rep is misinformed.
Hey Y'all. Just thought I would jump in here. Moe I don't know how much you know about the CX platform but if you are trading that kind of size you will undoubtetly have RFQ, RFT and Chat priviledges enabled, this allows you to deal with the prime broker directly so size is not a concern, unless you are using a "predatory" scalping system, then you will get thrown out of any direct trade platform. That is why longer term trading is far more efficient and safer when trading size.
The Ever Longer Term Trading Viper
The Ever Longer Term Trading Viper
Interesting thread - a bit like war and peace to read...
To place large orders you need to understand the basics of supply and demand.
If the broker is a bank then they can match trades off against other customers, but few brokers are banks and therefore must look at the liquidity pool that they subscribe to. They will ask the market can I fill a XXX million long or short position at the currently offered price - unless the market is tumbling on large volume and you are going long (or vice versa) then the answer will be no - so they then look to see how far from the current price they can safely accommodate this size of a deal.
The likes of Barclays Capital will normally offer a 10 pip spread on trades of $100 Million on Eur/Usd (if you are lucky)...
But with this kind of money, you want to trade with an ECN such as FXALL or DBâs Autobahn where your order can be filled across a number of providers. Otherwise when you go to exit the trade it will be obvious which way you are in the market and the price you are offered will be adjusted accordingly.
Do not try to enter a 1000 contract deal into an electronic system as you are informing the broker in advance which way you wish to trade and you are certain to be requoted. Instead get them on the phone and ask for best buy/sell spread on 1000 Contracts on Eur/Usd. Personally I would be looking to enter a number of smaller trades especially if the market is not moving rapidly in the direction of my trade.
Obviously the basics apply - use a number of credit lines from different banks - do not lodge the money with your broker...
Or consider trading Forwards instead of Spot - again much better use of funds.
All this talk of trading 3 million at 100:1 leverage â is just plain nuts
There are reasons why 95% of people fail in FX trading and leverage is the main culprit.
If you have some money and are serious about growing it in a professional way then limit yourself to a maximum of 5:1 and take great care when placing stops and limits.
Hope this helps....
To place large orders you need to understand the basics of supply and demand.
If the broker is a bank then they can match trades off against other customers, but few brokers are banks and therefore must look at the liquidity pool that they subscribe to. They will ask the market can I fill a XXX million long or short position at the currently offered price - unless the market is tumbling on large volume and you are going long (or vice versa) then the answer will be no - so they then look to see how far from the current price they can safely accommodate this size of a deal.
The likes of Barclays Capital will normally offer a 10 pip spread on trades of $100 Million on Eur/Usd (if you are lucky)...
But with this kind of money, you want to trade with an ECN such as FXALL or DBâs Autobahn where your order can be filled across a number of providers. Otherwise when you go to exit the trade it will be obvious which way you are in the market and the price you are offered will be adjusted accordingly.
Do not try to enter a 1000 contract deal into an electronic system as you are informing the broker in advance which way you wish to trade and you are certain to be requoted. Instead get them on the phone and ask for best buy/sell spread on 1000 Contracts on Eur/Usd. Personally I would be looking to enter a number of smaller trades especially if the market is not moving rapidly in the direction of my trade.
Obviously the basics apply - use a number of credit lines from different banks - do not lodge the money with your broker...
Or consider trading Forwards instead of Spot - again much better use of funds.
All this talk of trading 3 million at 100:1 leverage â is just plain nuts
There are reasons why 95% of people fail in FX trading and leverage is the main culprit.
If you have some money and are serious about growing it in a professional way then limit yourself to a maximum of 5:1 and take great care when placing stops and limits.
Hope this helps....
Umm, who says he has to utilize all that leverage? I have an account with 100:1 leverage. That doesn't mean I go all in on every trade. It's only 100:1 if I use 100% of my capital on one trade.
Moe,
I am gonna assume you are trading a large clip, if not well you will be the one looking in the mirror daily, as far as the others giving you a hard time, these guys still complain about stop hunting, spreads widening on news, who is better oanda or MBT ect. Forget about them, fu*&% newbs..! I started at a 50k account with a bucket shop and made my way to a larger ECN prior to jumping ship to Barclays. My suggestion to you is putting your funds in a private client bank relationship with some of the better well known, liquid banks period. AarronFX is not my first choice, but a step up from some of the brokers these small players deal with. Get a LOC with a major bank and use there ECN solutions, currenex, EBS, etc. at 3.7M u should not have this issue...? I question your true intent...?
I am gonna assume you are trading a large clip, if not well you will be the one looking in the mirror daily, as far as the others giving you a hard time, these guys still complain about stop hunting, spreads widening on news, who is better oanda or MBT ect. Forget about them, fu*&% newbs..! I started at a 50k account with a bucket shop and made my way to a larger ECN prior to jumping ship to Barclays. My suggestion to you is putting your funds in a private client bank relationship with some of the better well known, liquid banks period. AarronFX is not my first choice, but a step up from some of the brokers these small players deal with. Get a LOC with a major bank and use there ECN solutions, currenex, EBS, etc. at 3.7M u should not have this issue...? I question your true intent...?