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Prime of Prime Broker

  • #421
  • Jul 21, 2015 10:48am Jul 21, 2015 10:48am
Quoting amarfx
Who is the biggest prime out there by size and by flow?
Prime broker?

Citi and DB
  • #422
  • Jul 21, 2015 10:49am Jul 21, 2015 10:49am
Quoting amarfx
Pearl Capital Markets - www.fxprl.com have POP with citi but FSA seychelles is safe for funds? offers 20 $ - 30 $ per million for basic MT clients
That's expensive
  • #423
  • Jul 21, 2015 10:49am Jul 21, 2015 10:49am
Quoting shrike
Lmax has a Pop service now too (with BNP Paribas as PB). It can only be used via FIX or primexm bridge. It looks like its designed for MT4 brokers who want more then only lmax liquidity.
BNP Paribas as PB hmmmmm.

Won't comment but I know their product quite well, it's ok at G10 but ....
  • #424
  • Jul 21, 2015 11:21am Jul 21, 2015 11:21am
Quoting plotinus82
{quote} That's expensive
Can advice please compared to what make you think pearl markets is expensive as POP, ? they offer FIX api, and MT for retails and they are start up and seem recently started and accepts US clients?
  • #425
  • Jul 21, 2015 11:39am Jul 21, 2015 11:39am
Quoting amarfx
{quote} Can advice please compared to what make you think pearl markets is expensive as POP, ? they offer FIX api, and MT for retails and they are start up and seem recently started and accepts US clients?
Usual commission is 10 - 15 per million...
  • #426
  • Jul 21, 2015 11:41am Jul 21, 2015 11:41am
Quoting plotinus82
{quote} Usual commission is 10 - 15 per million...
Does any POP offer MT and FIX api with acct size acceptable less than 10k ?
  • #427
  • Jul 21, 2015 11:52am Jul 21, 2015 11:52am
Quoting amarfx
{quote} Does any POP offer MT and FIX api with acct size acceptable less than 10k ?
clearly no lol
  • #428
  • Jul 21, 2015 12:48pm Jul 21, 2015 12:48pm
Quoting plotinus82
{quote} BNP Paribas as PB hmmmmm. Won't comment but I know their product quite well, it's ok at G10 but ....
What do you mean. The point of a PB is that you can access other venues too (ECNs and other banks) and not just a singular bank feed.
  • #429
  • Jul 21, 2015 1:35pm Jul 21, 2015 1:35pm
Quoting shrike
{quote} What do you mean. The point of a PB is that you can access other venues too (ECNs and other banks) and not just a singular bank feed.
'Singular bank feed' is it bad, for your opinion?
  • #430
  • Jul 21, 2015 2:08pm Jul 21, 2015 2:08pm
Quoting shrike
{quote} What do you mean. The point of a PB is that you can access other venues too (ECNs and other banks) and not just a singular bank feed.
Well that depends, not sure if you have dealt with ISDAs and Give Ups but not a lot of banks are willing to be LPs for brokers anymore, when one puts their trades through Cortex, there is not give-up fee and BnP charges no fee for the customer to trade with them, so there is always a tendency for brokers to deal with their prime broker more than the other liquidity providers....
  • #431
  • Jul 21, 2015 2:08pm Jul 21, 2015 2:08pm
Quoting plotinus82
{quote} Well that depends, not sure if you have dealt with ISDAs and Give Ups but not a lot of banks are willing to be LPs for brokers anymore, when one puts their trades through Cortex, there is not give-up fee and BnP charges no fee for the customer to trade with them, so there is always a tendency for brokers to deal with their prime broker more than the other liquidity providers....
To elaborate, DB doesn't really allow customers to trade away from AutoBahn.

Citi has an imposed minimum fee to be met from spreads revenue trading with Citi...

It goes on and on...
  • #432
  • Jul 21, 2015 2:46pm Jul 21, 2015 2:46pm
Quoting plotinus82
{quote} Usual commission is 10 - 15 per million...
What volume is required to get that? Is half a yard enough (monthly)?

BTW: Really appreciate that thread, I was about to give up on the factory
  • #433
  • Jul 21, 2015 2:53pm Jul 21, 2015 2:53pm
Quoting JensG
{quote} What volume is required to get that? Is half a yard enough (monthly)? BTW: Really appreciate that thread, I was about to give up on the factory
Half a yard is more than enough, but not over trade to get reduced commission.

Do you need help for me to put you in touch with a $10 per MM deal if you trade half a yard monthly?
  • #434
  • Jul 21, 2015 3:35pm Jul 21, 2015 3:35pm
Quoting plotinus82
{quote} Half a yard is more than enough, but not over trade to get reduced commission.
Don't worry. I'm "scalping" on a minute chart so one could say over trading fits my nature ... no seriously! I'm right now between 350 and 500 million on average (monthly), due to the great ups and downs with the Greece party this month was "a bit" more. No over trading just very comfortably a few higher volume short term trades a day.

Quoting plotinus82
{quote}
Do you need help for me to put you in touch with a $10 per MM deal if you trade half a yard monthly?
Thanks, but I guess there is a bit more to do on my side first. I'll need a different trading platform, or can I still use MT4 on those products? What about leverage? I guess I will not get 100:1, is 50:1 feasible?
Anyway, I'll get back to your offer. For now, I'm very interested but too busy to handle any more changes right now.
  • #435
  • Jul 21, 2015 3:42pm Jul 21, 2015 3:42pm
Quoting JensG
{quote} Don't worry. I'm "scalping" on a minute chart so one could say over trading fits my nature ... no seriously! I'm right now between 350 and 500 million on average (monthly), due to the great ups and downs with the Greece party this month was "a bit" more. No over trading just very comfortably a few higher volume short term trades a day. {quote} Thanks, but I guess there is a bit more to do on my side first. I'll need a different trading platform, or can I still use MT4 on those products? What about leverage? I guess I will not get 100:1,...
It depends some prime of prime do offer 1:100, but my strategy is that I dont like going over what their prime brokers give them which is around 1:50. I know a few prime of prime that offers 1:100, do PM me your email and I'll put you in touch with these guys.

nah dont use MT4, use Currenex, though you can still use MT4
  • #436
  • Jul 21, 2015 8:41pm Jul 21, 2015 8:41pm
Quoting plotinus82
{quote} LCG has three PBs
LCG has moved into MT4 space and its main core business B2B is not the focus .

Im reading between the lines here.

http://www.financemagnates.com/forex...s-henri-sabet/
  • #437
  • Jul 22, 2015 12:56am Jul 22, 2015 12:56am
Quoting plotinus82
{quote} clearly no lol
So isn't not it good for retails, if can get access to POP with less than 10k and MT as well.
  • #438
  • Jul 22, 2015 1:55am Jul 22, 2015 1:55am
Quoting lasty
{quote} LCG has moved into MT4 space and its main core business B2B is not the focus . Im reading between the lines here. http://www.financemagnates.com/forex...s-henri-sabet/
Yup, you still need a PB if you're running a MT4 space, and having three PBs can minimise your clearing costs accordingly so what's wrong?
  • #439
  • Jul 22, 2015 1:56am Jul 22, 2015 1:56am
Quoting amarfx
{quote} So isn't not it good for retails, if can get access to POP with less than 10k and MT as well.
No because the flow is toxic and highly leveraged, good for you, not good for the broker or customers like ourselves. You will retailise our flow...
  • #440
  • Jul 22, 2015 2:08am Jul 22, 2015 2:08am
Quoting plotinus82
{quote} No because the flow is toxic and highly leveraged, good for you, not good for the broker or customers like ourselves. You will retailise our flow...
Its all depends how one trades or gambles and it end flow is toxic but were comes leverage part decides flow? Yeah a broker willing to retailise your flow doesn't harm the industry right?
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