Hotspot FXr
- Thread starter Pippi436
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)) - although on smaller size, e.g. <1mio, but not always... ask / search taboni posts for moreDo any of these ECN Brokers offer "If Done" or contingency orders on there platforms?
Regards
BBB
Regards
BBB
Interesting comments 2cents, thanks.
I've been researching into various ECNs recently and Currenex officials have been touting the strides they've made with latency, so it's illuminating to read what you say.
Having only used the HSFXi demo, it seems the platform is geared towards speedy trading which is an advantage in some senses. I like the liquidity and spreads on most of the pairs with the notable exception of cable where spreads often widen to 4 pips.
I've been researching into various ECNs recently and Currenex officials have been touting the strides they've made with latency, so it's illuminating to read what you say.
Having only used the HSFXi demo, it seems the platform is geared towards speedy trading which is an advantage in some senses. I like the liquidity and spreads on most of the pairs with the notable exception of cable where spreads often widen to 4 pips.
Quote from 2cents:
just my observations:
1. currenex: matching engine is weird at best,
. i have documented cases of even smallish 1 mio MKT (GBPUSD, EURUSD) order sitting on the platform without being filled for up to 5 secs in fast markets!!!! easy to verify thanks to currenex's audit trail, currenex IT etc didn't dispute, just said they couldn't reproduce... well, yeah, cool, i feel better now...
. worse, i hit the wrong button once last year (yeah ok stop laughing will ya) on a 10mio MKT order on a figure... mkt jumped 30pips in 1 sec and i was fucking livid... but guess what... fucking currenex didn't even execute, thk gawd, until 30 secs had passed and once the dust had settled it appeared that i'd actually managed to close at a (insignificant) profit thks to quick fluctuations within the 30-45 sec interval... but that does nothing to help me trust the platform, nothing at all
. why did i come to use MKT orders in fast mkts (potentially lethal) instead of limit orders as everybody does: cause latency issues (from Tokyo 180ms) meant even my 15pips-wide sweep attempts wld practically never receive any fills on currenex
. i asked but currenex never showed any willingness to disclose how their matching engine works, detailed execution rules, priorities, iteration rules and messaging if any (could aggravate latency-related issues), but basically and for having IMPLEMENTED matching algos for stock exchanges in my youth, i suspect they manage a timestamp-based queue and perhaps a priority to larger orders first, even a 30 sec auction-type system perhaps on figures, and a msg exchange prior to resubmitting an unfilled order... in my case, total garbage in fast mkts... but not everybody lives in tokyo... and they're ok in slow mkts (but who isnt?...)
2. HSFXi, yeah, i've complained about their spreads being 1-2pips wider than currenex on avg for a few weeks, depending on pair and time of day, 2 months or so ago... now fixed, on Ldn & US timeframe that is, and to me thats all that really matters actually...
. never had a single execution problem with HSFXi, lightning fast, latency not an issue
. liquidity is just as good if not better... get HSFXi's Tradeview so u can compare on 5, 20, 100mio and you'll see... also don't forget HSFXi has iceberg orders... try hitting the 100 button and u'll soon realize that there is way more on the bid/ask than first meets the eye...
3. LavaFX... have only looked at demo and live quotes, looks good but not better than HSFXi imo... dunno for execution speed / overall quality of fills... other thing is they still lack liquidity in a big way, ask for their monthly volumes, they are peanuts compared to HSFXi and currenex... improving of course but still a v.long way to go
having said that, all 3 are pretty good platforms imo, depends on how one trades, and personal circumstances i guess
have a great holiday all!!!