EFX Group

Quote from boonyrabba:

I can honestly say that out of the eight main brokers I am using for forex trading, MBT are the worst for fills except for FXCM and a couple of other bucket shops. I trade with a 170 strong trading room and not one of those traders including myself had a single good word to say about MBT or EFX. Their fills for news trading are the worst in the business, and then if that wasnt bad enough youre lucky if you manage to cancel the order in time resulting in a loss (they still get their commish though). Slippage is their real talent though because on the rare occasion you get in on the deal, youre gauranteed a seat right at the top of the spike. many of us have compared several brokers side by side on mutiscreens and enter before the spike....MBT EFX still fail to come close to the others. Even when market conditions are moving slightly quicker than normal similar problems can occur. The word is OUT.
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WHere are you trading, and which brokers are you finding to be the best? I am using Currenex platform with a WL partner. No major complaints here. I was with some bucket shops, but now I'm fairly satisfied. I do like Currenex.
 
MBT-Steve,

I am contemplating trading FX through MB with Neoticker front end.

Can you provide back fill FX data? If so, what periodicy is it available in? Cost?

Please provide the particulars.
 
achilles.....

We currently do not offer back fill data but we are working on releasing this soon. I will be sure to let you know as soon as it is available.

Regards,

Steve
 
Quote from MBT-Steve:

We currently do not offer back fill data but we are working on releasing this soon. I will be sure to let you know as soon as it is available.
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Posted on the MBT SDK list about almost a year ago :confused:
From: mbtsdk at yahoogroups.com
Sent: Monday, January 23, 2006 7:23 AM
Subject: Re: [mbtsdk] Is there anyway to get previous historical data?

We plan on adding historical data soon, but I don't have an ETA at this time.
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I had looked at EFX for some time and was leaning toward opening an account there at one time. Since I don't scalp the spreads are not a huge issue for me. But I did notice that the interest rates are consistently twice as high on the negative side as they are on the positive and that was the reason I never opened a live account there. I see that as a rip off and usually if a broker is ripping off in one way, they are inclined to do it in many ways.
 
Quote from MountainTrader:

I had looked at EFX for some time and was leaning toward opening an account there at one time. Since I don't scalp the spreads are not a huge issue for me. But I did notice that the interest rates are consistently twice as high on the negative side as they are on the positive and that was the reason I never opened a live account there. I see that as a rip off and usually if a broker is ripping off in one way, they are inclined to do it in many ways.
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I agree! The Swap they pay vs. the Swap they charge is waaay out of line. Even the really sucky brokers are not this greedy. Take a look at what they pay (1standard lot) on GBP/JPY... It's $5.97 and there are many brokers (even bad ones) paying 22-24 per standard lot. Of course if you go short they wack you with -$15.84.

Just so you know with a carry trade of only 1m that's around $4,809 they are taking out of your pocket every single month... Or around $57,708 per year.

On the USD/JPY the long would pay $7.48 (1 standard lot) and charge you -$23.73 (1 standard lot). Most brokers pay around $12-14 and charge around $14-15. So the difference on only 1m long per month would be $1376, but if you go short you pay an extra $2,919 per month (1m short carry trade for 1month) over what most brokers are at.

If you mainly daytrade and flat before 5pm ET this is a non-issue though. Other than that they look ok to me but I've not used them for the same reason as MountainTrader.
 
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