Structure and composition of FOREX market participants - page 4
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We trade on terminal quotes, and that is quite (!) enough. Most people don't care where the quotes come from, the important thing is that they are there, and they are, so trade. If we compare quotes from 100 different brokerage companies, there will be almost no difference, and this "almost" will not affect the quality of trading.
When you buy a cake in the shop, you are not interested in the surname of the confectioner who worked on that shift, are you?
From the official:
"5. a forex dealer shall not be entitled to conclude separate agreements with different counter-agents, similar in type, underlying asset, price, volume (range volume) and direction (buying or selling of the underlying asset) on different terms within 5 seconds. The time period is calculated from the conclusion of the first separate agreement concluded on the respective terms.
How can you tell? If the quotes change every second on the M1 timeframe, why does a broker prohibit to place the current market quotes in orders? Or is it just so that they do not cheat by placing a quotation for one participant and understand that this quote will go to other clients, I think this is how they deal with the selection of the "best" quotation and it may be just cases with the so-called requotes, which are struggling with legislation, but I am not sure.
We trade on terminal quotes, and that is quite (!) enough. Most people don't care where the quotes come from, the important thing is that they are there, and they are, so trade. If we compare quotes from 100 different brokerage companies, there will be almost no difference, and this "almost" will not affect the quality of trading.
When you buy a cake in the shop, you are not interested in the name of the confectioner who worked on that shift, are you?
Vitaly, the label on the cake has a factory so-and-so, TIN so-and-so, address so-and-so, shift so-and-so, date of manufacture so-and-so, manufacturing time so-and-so, calorie content in 100g of product, proteins, fats and carbohydrates...
I do not understand why you are not interested in information about where your broker gets information about quotes and how it is relevant with what is actually provided to your broker by the supplier in the form of a bank or hyper broker or some other. Why create these risks? - If you do not know what the price is and you do not want to postpone it, you may ask the broker to intervene. I have a 1 lot position with +5 pips and the quote is not enough to close the position at take profit for example. Or for fixing trailing stop-losses, after the chart has changed the deal was not executed and our profit was not fixed. After all, seeing a chart of quotes in real time, a broker or a Forex dealer is essentially our puppeteer. And he has thousands of us - the puppets. That's why I want the broker to be interested that our profits on deposits grow and it means that his commissions earnings grow as well. If a Forex dealer manages his activities on the exchange market and seems to be picking up quotes for us to solve his business, then under such trading conditions how to earn money...
Vitaly the label on the cake is factory so-and-so, taxpayer identification number so-and-so, address so-and-so, shift so-and-so, production date so-and-so, production time so-and-so, caloric content in 100 grams of product, proteins, fats and carbohydrates...
I don't understand why you are not interested in information about where your broker gets its quote information from and how up-to-date it is with what is actually provided to your broker by a supplier in the form of a bank or hyper broker maybe some. Why create these risks? - If you do not know what the price is and you do not want to postpone it, you may ask the broker to intervene. I have a 1 lot position with +5 pips and the quote is not enough to close the position at take profit for example. Or for fixing trailing stop-losses, after the chart has changed the deal was not executed and our profit was not fixed. After all, seeing a chart of quotes in real time, a broker or a Forex dealer is essentially our puppeteer. And he has thousands of us - the puppets. That's why I want the broker to be interested that our profits on deposits grow and it means that his commissions earnings grow as well. If a Forex dealer manages his activities on the exchange market and by the way picks up quotes for us to solve our affairs, then under such trading conditions how to earn...
Then another moment, you have received a quote +5pp, everything closed, but not enough, because the price has not immediately turned, but went further.
Why are you looking for a black cat in a black room? If you do not want to be manipulated by the brokerage company you have to trade with a good and reliable broker who has the last position in all the purchased ratings and the entry threshold is several times higher.
Then another point, you were sent a +5pp quote, you got everything closed, but not much, because the price didn't turn immediately, but went further.
Why are you looking for a black cat in a black room? If you want to be sure that your brokerage company does not manipulate quotes for your account, trade with a good and reliable brokerage company, they are usually in the last lines of all purchased ratings and there the entry threshold is much higher, you won't get away with a hundred quid, but you have the guarantee that no one will manipulate quotes for your account.
I would go to my broker or forex dealer - by the way it has different names, but they have a license for brokerage and forex dealer - I looked. I will ask them to disclose information about suppliers of quotes for comparison with what I have in the terminal "here and now". I wonder what will be the reply? Will they send me a kickback or will they give me some explanations about how one may control quotes in the terminal with those of the Provider and who is this Provider. And then I'll write to the vendor and find out where they get quotes for deliveries to my forex dealer (or broker). I won't get rid of them until I trace the entire chain, and if they don't reply I'll complain to the Central Bank. I can stand up for my $500 in a real ECN account.
Yes, here I will turn to his broker or forex dealer - by the way it has different names, but they have a license for brokerage and forex dealer - I looked. I will ask them to disclose information about suppliers of quotes for comparison with what I have in the terminal "here and now". I wonder what will be the reply? Will they send me a kickback or will they give me some explanations about how one may control quotes in the terminal with those of the Provider and who is this Provider. And then I will write to the vendor and find out where they get quotes for deliveries to my forex dealer (or broker). I will not get rid of them until I have checked the entire chain, and if they do not answer, I will complain to the Central Bank of the Russian Federation.
Imagine the situation: you are a shop manager, some nubo comes up to you out of nowhere and starts asking you about all your suppliers' channels, where you buy your products, how you pay, how much you buy, what kind of mark-up you pay, where your supplier gets your products and so on.
What do you think your response will be?
Imagine the situation: you are a shop manager, some nubo comes up to you out of nowhere and starts asking you about all your suppliers' channels, where you buy your products, how you pay, how much you buy, what kind of mark-up you pay, where your supplier gets your products, and so on.
What do you think your response will be?
I will explain everything to him and reassure him. Nublo will buy from me, don't worry.
I will explain everything to him and reassure him. Nublo will buy from me, don't worry.
You'll be out of business in a year at the most. And he won't buy anything from you, but will buy it cheaper from your supplier.
But the provider is a bank, and the bank will not work with a private trader with a deposit of $ 1000 - he will send him back to me or other partners from his list, the same - who work with small deposits. If I have already given him all the information and if I work in the mid-price range (on spreads and commissions), there is no sense in buying Nubla from others. Well, if he comes to you, let's say, you send him away and he will come back to me - an open broker. All right, I'll write to my broker on Monday and I'll let you know how it goes.
But the provider is a bank, and the bank will not work with a private trader with a deposit of $ 1000 - he will send him back to me or other partners from his list, the same - who work with small deposits. If I have already given him all the information and if I work in the mid-price range (on spreads and commissions), there is no sense in buying Nubla from others. Well, if he comes to you, let's say, you send him away and he will come back to me - an open broker. All right, I will write to my broker on Monday and let you know how I get on.