I'm evaluating Forex brokers for my market making strategy.
I'm testing how Forex brokers execute limit orders on live funded account.
Here's an example from Oanda. My sell limit order is sitting inside of the bid/ask spread for over 5 minutes without being executed. I know the order will execute when their bid crosses my ask, but it's hard to think that during US morning hours no Oanda customer or algo placed a market buy order that would benefit from a price improvement within that time range.
I know Oanda is not an ECN, so that means they are just plain market maker. So it's my algo against their algo. So if I deploy my model at Oanda, and it's consistently making a profit, they will most likely shut me down by slowing down quotes, or frequently cut my connection, or start rejecting orders, etc... because I'll directly cut their profit. Is my thinking right?
P.S. they could start hedging my orders, but since there can be hundreds of orders per day I don't think they want to go with that much hassle. So shutting my algo down would be much less hassle.
I'm testing how Forex brokers execute limit orders on live funded account.
Here's an example from Oanda. My sell limit order is sitting inside of the bid/ask spread for over 5 minutes without being executed. I know the order will execute when their bid crosses my ask, but it's hard to think that during US morning hours no Oanda customer or algo placed a market buy order that would benefit from a price improvement within that time range.
I know Oanda is not an ECN, so that means they are just plain market maker. So it's my algo against their algo. So if I deploy my model at Oanda, and it's consistently making a profit, they will most likely shut me down by slowing down quotes, or frequently cut my connection, or start rejecting orders, etc... because I'll directly cut their profit. Is my thinking right?
P.S. they could start hedging my orders, but since there can be hundreds of orders per day I don't think they want to go with that much hassle. So shutting my algo down would be much less hassle.
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