Damon
Founder/Director Pellucid FX
- Messages
- 59
Pharoah
Hey Pharoah,
The reason I am leaning toward BT as my liquidity provider is that per contracts they have with the banks and Prime brokers the orders are automatically filled, period. The banks and prime brokers are willing to this because they are attempting to be flat the market (trades on both sides so they are essentially risk free), while I as a smaller broker am using them to take on my risk (I do not fill the clients trade like an MM, the banks and prime brokers do). So I am flat and they are attempting to be flat. It is a win win in my opinion.
BT is different from other ECN's like Integral in that Integral is attempting to find someone else for the deal, they are attempting to make the market, I like the idea but with these types of ECN's you see more trades not being filled and requoted as it needs to be checked and sent back, where as BT is just fill at best price, so it is faster with less requotes.
BT's liquidity allows STP ECN trading as fast as you like, any trade any size any speed, and we are getting the best price fill from 1 of 25 institutions. This is exactly what I was looking for.
As for slippage BT comes with software that tracks it, I need to follow it to make sure that slippage happens evenly (Or I'll *****), I can post the results on my webpage. Some brokers actually enforce slippage against the trader I will not even install that plugin.
Does anyone know if there is anything I can do from inside my MT4 to check brokerage settings?
If there is I would like to be able to tell my clients how to check and make sure the settings are as I say.
Damon
Hey Pharoah,
The reason I am leaning toward BT as my liquidity provider is that per contracts they have with the banks and Prime brokers the orders are automatically filled, period. The banks and prime brokers are willing to this because they are attempting to be flat the market (trades on both sides so they are essentially risk free), while I as a smaller broker am using them to take on my risk (I do not fill the clients trade like an MM, the banks and prime brokers do). So I am flat and they are attempting to be flat. It is a win win in my opinion.
BT is different from other ECN's like Integral in that Integral is attempting to find someone else for the deal, they are attempting to make the market, I like the idea but with these types of ECN's you see more trades not being filled and requoted as it needs to be checked and sent back, where as BT is just fill at best price, so it is faster with less requotes.
BT's liquidity allows STP ECN trading as fast as you like, any trade any size any speed, and we are getting the best price fill from 1 of 25 institutions. This is exactly what I was looking for.
As for slippage BT comes with software that tracks it, I need to follow it to make sure that slippage happens evenly (Or I'll *****), I can post the results on my webpage. Some brokers actually enforce slippage against the trader I will not even install that plugin.
Does anyone know if there is anything I can do from inside my MT4 to check brokerage settings?
If there is I would like to be able to tell my clients how to check and make sure the settings are as I say.
Damon