Is it possible to do away with online brokers
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thread: Is it possible to do away with online brokers

  1. #1
    Junior Member adilio's Avatar
    7

    Is it possible to do away with online brokers

    Hi guys!
    I'll need some thoughts and counsel on this. As there are so many negative aspects concerning the internet brokers we use, can it be feasible to prevent them. For instance, Is it feasible to join using a data feed support from a reliable company or exchange, and utilize that with a trading platform?
    Due

  2. #2
    I received a reply back from them after emailing them out of this forum, and I'm not a customer yet. Have a look at jleblang's threads and intros.
    Like

  3. #3
    Junior Member adilio's Avatar
    7
    Trade Forex Futures
    Thanks. I really don't have a notion how the rear end of trading forex futures works but I can certainly do some house work on this. But, I know the concepts of trading futuresso I do not think I will have a problem on that.

    So from your reply, I'm assuming that the forex market is not directly accessible, if you don't go through a broker?

  4. #4
    Member ina99's Avatar
    98
    Thanks. I really don't have a notion how the back end of trading FX trading operates but I can sure do some home work on that. However, I understand the concepts of trading futures, therefore I do not think I'll have a problem on that.

    So from your response, I'm assuming the FX market isn't directly accessible, unless you go through a broker?
    Well not exactly... You can use a ECN broker or you could visit Currenex, If you've got a large enough account... But it sounded like you're considering centralized pricing. That is where the futures comes in as they are controlled and centralized.

  5. #5
    Junior Member isoxel1055's Avatar
    16
    Trade Forex Futures
    Hi Scott - Can you trade forex futures? Just something which interests me - there must be some serious drawbacks otherwise everyone would do it. .

  6. #6
    The downsides are startup costs, to tell the truth.

    You have to be more capitalized to trade futures. There are various drawbacks like premiums. They can easily eat into your trade, as you must normally overcome interest rates (depending on which side you get into).

    Aside from that, they are just another market to enter.

    Hi Scott - Can you trade forex futures? Just something which interests me there have to be some serious drawbacks otherwise everybody would do it. .

  7. #7
    Junior Member adilio's Avatar
    7
    In addition to This, futures are more complied in nature than forex, but are not necessarily complex

  8. #8
    Junior Member adilio's Avatar
    7
    Well not exactly... You could use a ECN broker or you might visit Currenex, in case you've got a large enough account... However, it sounded like you're interested in centralized pricing. That is the place where the futures comes in since they're regulated and centralized.
    I've checked out the sites and they seem pretty good. I'm just trying to avoid the unnecessary risk by using a bad broker. I've read reviews about a lot of brokers and it's making me paranoid. I don't want to see myself with a broker which requotes, fluctuations spreads or which does not execute trades which are small in amount with the cost of enormous clients that they have, and transactions contrary to its clientele. I'm certain you're also aware about these.

    So that's the reason I'm attempting to use another alternative of signing up for a data feed solutions from a market and using it with an independent appliions such as vantage point.
    thanks

  9. #9
    Member ina99's Avatar
    98
    Hi Scott - Can you exchange FX futures? Only something which interests me there must be some serious downsides otherwise everyone would be doing it. .
    What mrmikal said... I state Ditto... LOL. . I snooze I shed... sorry, did not find this sooner...

  10. #10
    Senior Member layunny's Avatar
    195
    I don't need to see myself using a broker which requotes, fluctuations spreads or which does not execute trades which are small in amount with the cost of huge clients they have, and trades contrary to its clientele.
    Lol, your in the wrong business brother. Unless your going to ante up gt;$1mio to get a seat on an exchange you'll be using a broker regardless of what market you exchange in. Brokers in most markets give execution priority to large accounts and they almost all run prop desks which use your order info against you. Further, even on exchanges factor spreads are the norm. Perhaps they don't get as wide as Oanda, however there is not any such thing as a fixed spread.

    Look for the best of what IS, not what you believe there SHOULD be.

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