Commissions, liquidity providers, etc....

[4EverMaAT]

1) How much are the round turn commissions per 1.0 lot?

2) how many liquidity providers do you have? will you provide a list?

3) Is the price on the level 2 or mt4 platform spread the AVERAGE of all the liquidity providers? i.e. how is the spread calculated that you see on the MT4 platform?

4) will the # of currency pair markets be the same markets for the FXopen platform? Will there be new markets or a separate contract specifications sheet?

5) Also, I was done talking to PFGBest and they are an up and running ECN and they said they trade mini lots. It is an MT4 platform. I.e. 0.1 lot is the smallest. I would definitely love to see you place 0.1 or mini lots. I don't see why that is not possible on your ECN platform.

[FXOpen Alex]

1) How much are the round turn commissions per 1.0 lot?

2) how many liquidity providers do you have? will you provide a list?

3) Is the price on the level 2 or mt4 platform spread the AVERAGE of all the liquidity providers? i.e. how is the spread calculated that you see on the MT4 platform?

4) will the # of currency pair markets be the same markets for the FXopen platform? Will there be new markets or a separate contract specifications sheet?

5) Also, I was done talking to PFGBest and they are an up and running ECN and they said they trade mini lots. It is an MT4 platform. I.e. 0.1 lot is the smallest. I would definitely love to see you place 0.1 or mini lots. I don't see why that is not possible on your ECN platform.

1). The round turn commissions per 1.0 lot at demo version during the beta testing is 0.007% per lot.

2). We cumulates liquidity coming from different counterparties . Liquidity and prices provided by Liquidity Providers are variable.
For example:
Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, Currenex, JPMorgan, Morgan Stanley, Deutsche Bank AG, RBS, Citi, UBS, HOTSPOT INST, LavaFX and others..

3). To reliably estimate current forex spreads industry-wide is not a simple task. There
are many liquidity providers offering their services to both professional and retail traders. Whilst the global forex industry is a network of tightly connected institutions and liquidity providers, they are not synchronized. For a number of reasons, price quotes (bid and ask) at any given moment can differ between providers, sometimes even by a few pips. It follows that, in order to deliver clients the best available liquidity and spreads one should combine as many liquidity sources as possible. This aggregation function is currently performed and you can see it even in demo mode.

4). We are planing to add new trading instruments according to the clients requests and possibility to connect counterparties to our system.

5). Unfortunately we can't discuss the execution at other companies. We don't see any necessity to provide 0.1 lot execution and designed our system specially for professional traders and according the terms of our counterparties.

[ilearn2t]

Hello FXOpen Alex

Thanks for giving us more info into the plans FXOpen have in store if or when they decide to go ECN.

I always knew question (5) would pop up from the first day I tried the demo out. I also believe while any lot under 1.00 remains on the platform, members will still ask why they can't trade under 1.00 lot, could these sizes be removed from the volume window to avoid confusing new members.

Thanks in advance.

[FXOpen Alex]

Hello FXOpen Alex

Thanks for giving us more info into the plans FXOpen have in store if or when they decide to go ECN.

I always knew question (5) would pop up from the first day I tried the demo out. I also believe while any lot under 1.00 remains on the platform, members will still ask why they can't trade under 1.00 lot, could these sizes be removed from the volume window to avoid confusing new members.

Thanks in advance.

Unfortunately we can't remove it. Mt4 functionality a bit limited As true ECN we have partial execution according the current available volumes on the market. So, time to time orders will be filled partially which can be 5 and 2.3 lots if you requested 7.3 lots totally for example.

Have a nice week ends ilearn2t and thank you for helping of testing our system!

[ilearn2t]

Unfortunately we can't remove it. Mt4 functionality a bit limited As true ECN we have partial execution according the current available volumes on the market. So, time to time orders will be filled partially which can be 5 and 2.3 lots if you requested 7.3 lots totally for example.

Have a nice week ends ilearn2t and thank you for helping of testing our system!

Hello FXOpen Alex

Same to yourself and all the members and staff, enjoy your weekend.

Testing results amazing, will update statement shortly ( $25,000+ all on minimum lot size )

Glad to see you live in a country that still allows you to smoke indoors.

[tdezo]

0.007 comission? This would be around $700.00 / lot? Dan

[FXOpen Alex]

0.007 comission? This would be around $700.00 / lot? Dan

Hi Dan,
this would be around from 5.5 to 11.5 USD per 1lot(100K) round turn depends from the currency pair (this is from starting). And of course we are planing to decrease it.

[tdezo]

Thanks Alex. How did you get this $ number?. If I buy and sell 1 lot, 2x$100000 x 0.007%=$1400.00 in comission. Take care , Dan

[FXOpen Alex]

Thanks Alex. How did you get this $ number?. If I buy and sell 1 lot, 2x$100000 x 0.007%=$1400.00 in comission. Take care , Dan

100000USD*0.007%=7USD if its USD based currency such as USDJPY forexample.

And you dont need to multiply it on 2. For 1 standard lot you will pay 7USD(close and open included).

[FXOjafar]

I always knew question (5) would pop up from the first day I tried the demo out. I also believe while any lot under 1.00 remains on the platform, members will still ask why they can't trade under 1.00 lot, could these sizes be removed from the volume window to avoid confusing new members.

As far as I am aware, the market will not take any volume less than 1.00 standard lots without adding a dealing desk of some sort into the equation where lesser volume is added together in a netting position a lot like what happens in retail forex accounts.

[tdezo]

100000USD*0.007%=7USD if its USD based currency such as USDJPY forexample.

And you dont need to multiply it on 2. For 1 standard lot you will pay 7USD(close and open included).

Alex, you're right. Looks like I'm getting dumber. regards , Dan

[omid_fx]

I realy can not found how is the commition

you say Commission per 1 million starting from US$35 per side (Depends from the monthly trading volume)

but i see in my platform 9.88 per 1 lot trad on EUR/USD.

[nonamer]

I realy can not found how is the commition

you say Commission per 1 million starting from US$35 per side (Depends from the monthly trading volume)

but i see in my platform 9.88 per 1 lot trad on EUR/USD.

Hi


100,000USD*0.007%=7USD if its USD based currency such as USDJPY forexample.

And you dont need to multiply it on 2. For 1 standard lot you will pay 7USD(close and open included).

So from example above if 1,000,000 that mean are 10lot for 1 side, so if u count 2 side open and closed u need to add 35usd again or 35usd x 2 = 70usd for 10lot trade for closed and open.

Show now if u trade on Euro/Usd pair 10lot ....
1.43250 for 1 euro ....so 1,000,000 euro equal 1,432,500 usd to get 10 lot trade open...
1,432,500 x 0.007% = 100.28 usd commission charges for open n closed.
So if u trade 1lot the commission charge are 10.03 usd for open n closed.
The commission value for pair xxx/xxx or xxx/usd will change or not will the same because its depending value USD per other currency.
Only pair usd/xxx will fixed commission for 1lot trade - 3.5 usd per side or 7 usd for open n closed .

Thanks

[FXOjafar]

I realy can not found how is the commition

you say Commission per 1 million starting from US$35 per side (Depends from the monthly trading volume)

but i see in my platform 9.88 per 1 lot trad on EUR/USD.

Euros are a bit more expensive than dollars. Roughly, what's 7 x 1.4? 9.8