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FX Poll Vote!!!!!
- Thread starter Maverick74
- Start date
Quote from Lon Eagle:
Not sure i am classified as retail but whatever. I use mainly currenex, lava, hotspot and baxter. The liquidity is infinitely superior to globex -which I have via TT but hardly use.
I assumed the question was globex vs retail spot (eg, oanda etc), but the original poll just said spot, so my bad.
As I understand it, currenex still allows banks to choose to whether they want to fill an order, whereas globex is "what you see is what you get". In any case, I'm not familiar enough with the platforms you've named to compare further -- if they are all freely available to the public, allow relatively small executions instantaneously (say, 100K minimum), and maintain 1-pip spreads during regular trading hours (other than news releases), then I would have to take another look.
But I would still maintain my view that futures would be the preferred vehicle for most individual traders vs the spot retail shops like Oanda and the like. Individuals would likely have different priorities than large traders/funds, so liquidity would be somewhat subjective -- if one platform shows 20MM by 20MM, but takes a couple of seconds to get an execution, it might not be preferred over thinner depth w/ instantaneous execution (specialist vs ECN basically). But I'd like to hear more about those platforms that you've named.
Quote from illiquid:
I assumed the question was globex vs retail spot (eg, oanda etc), but the original poll just said spot, so my bad.
As I understand it, currenex still allows banks to choose to whether they want to fill an order, whereas globex is "what you see is what you get". In any case, I'm not familiar enough with the platforms you've named to compare further -- if they are all freely available to the public, allow relatively small executions instantaneously (say, 100K minimum), and maintain 1-pip spreads during regular trading hours (other than news releases), then I would have to take another look.
But I would still maintain my view that futures would be the preferred vehicle for most individual traders vs the spot retail shops like Oanda and the like. Individuals would likely have different priorities than large traders/funds, so liquidity would be somewhat subjective -- if one platform shows 20MM by 20MM, but takes a couple of seconds to get an execution, it might not be preferred over thinner depth w/ instantaneous execution (specialist vs ECN basically). But I'd like to hear more about those platforms that you've named.
I ping the ECNs regularly to check speed and even from a different continent the times are around 70ms per round trip. ie less than a tenth of one second
Not that it matters but currenex for example in normal hours tends to have 300 million on the bid and the offer within a pip of the regular spread.
What I would love for the futures converts to explain is why futures are better - and I don't want to hear because they dont take the other side of the trade etc. I think it is a given that everyone knows the likes of FXCM are a rip off.
Quote from Lon Eagle:
I ping the ECNs regularly to check speed and even from a different continent the times are around 70ms per round trip. ie less than a tenth of one second
Not that it matters but currenex for example in normal hours tends to have 300 million on the bid and the offer within a pip of the regular spread.
What I would love for the futures converts to explain is why futures are better - and I don't want to hear because they dont take the other side of the trade etc. I think it is a given that everyone knows the likes of FXCM are a rip off.
Actually I was not referring to ping speed, but just if the bids/offers were "firm", so to speak. Sounds like with 300 million on either side that currenex has a sizeable trade minimum?
Futures are really the only regulated venue for currencies available to individuals; given the exact same speed/liquidity I'd have no preference for trading futures contracts themselves over spot, but just that there is no other fair alternative that I know of for relatively small accounts (say 100k).
Another answer on the side is that with IB you can trade an assortment of futures markets on a single platform: currencies, bonds, sif's, metals, and see them reacting simultaneously. So far what globex offers suits me perfectly, that's just my case.
You know what is interesting and one of the reasons why I did this poll is to see how many guys out there on ET are actually trading options on FX. Only one guy out of 29 so far. That is amazing. Are you guys just not interested in FX derivatives products?
Quote from Maverick74:
You know what is interesting and one of the reasons why I did this poll is to see how many guys out there on ET are actually trading options on FX. Only one guy out of 29 so far. That is amazing. Are you guys just not interested in FX derivatives products?
i traded 'em trough cfds yrs ago but only binaries: daily exp, up'n'down.
Quote from illiquid:
Name one advantage retail spot offers over the globex system (which is where, now after the merger with cbot, pretty much everything else trades), aside from the fact that you can open a $500 account and trade microlots.
Not so much advantage/disadvantage, but even if you trade futures it pays to follow the spot because the round numbers mean something in spot but not so much in futures because of the prem/discount. Another thing I like about spot is you don't have to roll over every 3 months. Flexible trade sizes is another plus that spot offers. But as far as a pure execution system is concerned, Globex is a proven winner.