Ecn - page 6

New comment
 

MBTrading , ECN Adapter to EA's etc..

Hi,

Im just browsing..but to answer or confirm.. yes, you can write a hook from and EA to the ECN's API. Ive done it, and am doing it.

Or, you can build a FIX Hub.. Either can be hooked by an EA. Works fine.

You will need to write this in C or Delphi. best in its own thread.

Craig

 

Ghamm,

Hi. How are you? Could you please explain how this is done? As far as hooking the EA to the ECN. I do not really understand as yet what is done to make the MT4 work with the ECN trade desk. Thanks a ton.

Adam

 
ahefner33:
Ghamm,

Hi. How are you? Could you please explain how this is done? As far as hooking the EA to the ECN. I do not really understand as yet what is done to make the MT4 work with the ECN trade desk. Thanks a ton.

Adam

basically.. you will create a DLL.. The DLL will talk to an event server that has the ECN's API calls in it.. Since Most ECN's are event driven, you will need to get the result of the trade, and send it back to the EA. Its not that hard, but not for a beginning programmer.

 

Clarification on minimum trade size

ahefner33:
Hi EFXAndy,

I read where you said that you can trade mirco minis (1k) but when I spoke with one of the online reps. over at EFX, they told me the smallest to be traded was 10k? Could you clarify this? Thanks.

Adam H.

Adam,

I am not sure who you spoke with on the phone at EFX Group, but the correct answer is that you can trade micro-minis, which are 1K lots. Commission on that is $0.05 for a USD-based pair, or roughly $0.10 for a GBP pair.

As far as those traders who are looking for a flexible API..here is all the info for that: EFX: Experience Forex Freedom

I hope this is helpful.

Thanks

Andy Geller

andy@efxgroup

EFX: Experience Forex Freedom

 
 

EFX's commissions are horrible. You end up paying quite a lot. Also, the swap rates, are even worse.

IB's IDEALPRO is the best for retailers looking for a real market. However, it also has its drawbacks.

 

Trying to understand...

scott TTM:
EFX's commissions are horrible. You end up paying quite a lot. Also, the swap rates, are even worse. IB's IDEALPRO is the best for retailers looking for a real market. However, it also has its drawbacks.

kjhfdgjfhdghdf,

I am sorry you feel that commissions for trading vs paying a markup in the spread is horrible. I have been trading for almost 10 years and for me, commissions make sense. Clearly it is not for everybody however, and traders should only trade where they feel comfortable doing so.

That being said, I am definitely very interest to hear why you are so against paying a commission. Are our commissions simply too high? Were you trading on our platform, or have you just heard terrible things? I truly would like to understand better, so we can better our business.

If possible, can you give me an example of where placing a trade on a deal desk ended up costing you less? I have done the math many different ways, and most often, the trades on an ECN platform come out on top.

If you do not get around to this until Monday, have a great weekend.

Good luck.

Andy

 

Andy,

That was me.

I'm talking about your specific rates. It's what, $7.50 r/t for USD based pairs, right? What really gets you is the non USD-based pairs. For a GBP based trade, you're paying almost 2 pips plus the spread!

In comparison to Interactive Brokers' rates, EFX's are astronomical.

Please also post a recent table of EFX's swap rates.

 

And we won't even get in to the rates when compares to FX futures contracts. We all know the answer on that one.

I'm not bashing EFX, but your rates and swaps are just not competitive. That's the bottom line. It's nothing against you. And no, I don't prefer dealing desks either.

But in my above example with GBP based pairs you end up paying nearly $200 per million in notional. How is that competitive?

 

Commission vs. Swap Rates

scott TTM:
And we won't even get in to the rates when compares to FX futures contracts. We all know the answer on that one.

I'm not bashing EFX, but your rates and swaps are just not competitive. That's the bottom line. It's nothing against you. And no, I don't prefer dealing desks either.

But in my above example with GBP based pairs you end up paying nearly $200 per million in notional. How is that competitive?

Yes, Scott...it was you, not kljkjlkjkjljlkj. Sorry about that. Anyway. The commissions on a USD-based pair are $5/standard lot. I think that if we were to do the math, the commissions come out better...we would probably agree there.

About swap rates. You are right. Our swap rates are pretty high. That is something we will be working on, but takes some time. We do not make money on them, but rather simply pass the rates on to you.

Have a great weekend...continue back on Monday!

Andy

12345678
New comment