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ECN Acronym
Forex Basics
Auto Trading on EFX
About scripting language for automatic trading with EFX, how should the syntax of it look like? Is it a C-like programming language? Or Delphi-like? fxtrader625
fxtrader625, that Depends if you are writing your own program that will operate through a FIX account, which is the concept of Open Access on our website, or if you are planning on using our automated trading package, which I cannot give details on at this time (due to, among other things, the competative nature of the business).
Andy Geller
efx group EFX: Experience Forex Freedom
andy@efxgroup.com
fxtrader625
lovely, thanks!
andy
efxgroup
I understand...
Bongo,
I understand you thought process when it comes to banks. I know it was a long thread, but I take it you didn't read the whole thing that I wrote. I would cut and past the parts that you missed, but I think it was the whole thing!
Sorry to be so blunt, but I specifically addressed all of your questions in that post. Please let me know which part was confusing so I can re-write it for you.
Thanks
Andy
efxgroup
Good clarification,
It works no different with EFX. It works the same here. We have multiple liquidity providers and qualified destinations in our system, and your order can be sent in part or whole to any of them to get you the best price.
Make sense?
Andy
Andy, your definition of a ECN is basically a company that routes orders to the LP's. To the best of my knowledge, Interactive Brokers do exactly this as well but I have never come across them labeling themselves as an ECN!
Would you class them as such or is there more to it than that?
Omelette
I would if it were not for a few things. The fees/commissions differ depending on the size you trade, meaning that technically, bigger traders will get better pricing. With a true ECN, the prices are the same regardless of who is trading and regardless of the size they trade.
Other differences with IB are that they have stricter minimums for account balances, and inactivity/activity fees for accounts that do not trade up to a certain amount per month.
But as far as ECN description, they are close...but as they say, no cigar!
Andy
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.