GC Forex Platform -Preview - 500 Beiträge pro Seite

[dollarfox]

Hallo Forex Trader,


wer kennt GAIN CAPITAL noch nicht ? Die Platform wurde zur Nummer Eins in der FX Szene gekürt. Wer bei der FA. Ibas-FXDirect den Interbanken Devisenhandel gelernt hat, findet
hier eine echte Alternative für den Forex Handel. Leider ist die Platform nur in Englisch erhältlich. Aber wer Interesse hat kann under der deutschen Domain http://www.deviseninvestment.de mal live FX Trading mit real time Kursen schnuppern. Kostet nichts. Viel Spass !

Im Internet findet man jetzt auch eine neuen online Chart Service für den Handel in den FX Devisenmärkten. Service nennt sich FXTrek.com und bietet über 22 Technische Analysen und Marktstudien mit bis zu 65 verschiedenen Time Perioden. Fast wie TradeStation. Wirklich sehenswert.


Happy Weekend
DF FX MarktResearch

[BAUD]

Hey dollarfox,

interessante Seiten, vielen Dank!

Gruß Baud

[dollarfox]

Your are welcome ! Danke.

[elfural]

@ dollarfox
handelst Du bei Gain Capital im Live Konto oder im Demokonto?
Handle im Moment bei FX FIRST. Muss leider dazu sagen,
das im Demokonto super Kursstellungen waren, aber im Livekonto der Spread regelmässig um 2 Pipp erhöht wird.
Ebenfalls ist es kaum möglich bei volatielen Märkten einen
guten Einstieg resp. Austiegskurs zu erhalten.

Gruss
elfural

[MarcusAntonius]

wer kennt GAIN CAPITAL noch nicht ? Die Platform wurde zur Nummer Eins in der FX Szene gekürt.

lolol

vom denn...

von euch selber??

[dollarfox]

Hey,
bin live dabei. FXFirst kenne ich auch. Gutes Charting Programm. GAIN bietet aber die besseren Kurse mit einem 4 Pip Spread in EUR/USD und 5 Pip in allen anderen Währungen.
Absolut keine Re-Quotation oder Slippage selbst in fast markets. Das Problem bei FXFirst ist, dass keine FCM Registrierung mit der CFTC vorhanden ist.

Happy Trading.
DF

[MarcusAntonius]

hier werden sie geholfen:

http://www.wallstreet-online.de/ws/community/board/thread.ph…

http://www.oanda.com

einer tochter der olsen group, ausser spreads keine gebühren, spreads z.zt:

eur/usd 0.9142/43

usd/jpy 127.45/48

gbp/usd 1.4666/70

usd/cad 1.5662/67

aud/usd .5380/84

ich stell hier mal einen artikel von

www.erivatives.com

zu rein, retail plattformen sind unter "the rest of us", und atriax hams nich geschafft, trotzdem dass die weltweit grössten fx banken betreiber waren, shit happens:

Online Forex: Transparency meets opacity head on in the foreign exchange business

Competition is hotting in the market for online foreign exchange trading after a year of operations for most of the major platforms. There is certainly no lack of marketing spiel and rhetoric about their rivals from the platforms themselves, but they remain coy about the amount of business flowing through their systems, which makes it difficult to assess how successful they actually are. And with so many banks owning stakes in most of these platforms, it is even difficult to get a relatively objective view from the users.

After examining the development of electronic foreign exchange options platforms last month, this month we take a closer look at some of the general FX trading platforms, finding out what exactly they offer, asking whether there really is much difference between them, and looking at how they plan to develop. We have chosen to look at three of the major rivals for institutional business - Atriax, FXall, and Currenex - and to examine the prospects for a couple of retail focused platforms: Oanda, an online system for retail and corporate FX traders designed by legendary technical trading specialist Richard Olsen, and computer engineer Michael Stumm, and deal4free, a FX platform for retail investors set up back in 1996.

Media Blackout

The lack of information about trading volumes going through these platforms is a real hurdle to any kind of useful comparison of how successful these systems are. While all platforms are short on absolute figures, some give relative ideas of how business is growing. Atriax, which offers bilateral trades for institutions in FX spot, forwards and swaps over the internet or a private network, says its daily value of deals is three times the average value in 2001, and that the number of deals is four times greater. This may sound impressive, but if Atriax traded one contract on average a day last year and now trades four, the growth certainly won`t make any headlines. On the other hand, FXall, a similar online platform, helpfully produces a chart suggesting that volume growth has increased by over ten times since the platform was launched in May last year. But with no scale on the y-axis, it is impossible to gain any concrete information about the amount of business FXall is doing.

Robert Iati at The Tower Group, a US research firm, has tried to estimate the amount of trade on each platform, but he admits that trying to get a clear picture from feedback from users of each system does not guarantee 100% accuracy. Nevertheless he does estimate that a third of forex trades will be transacted electronically by the end of 2002. And there seems to be a general consensus that the FX platforms are doing increasing amounts of trade. "There is certainly more electronic FX trade in spot and forwards than in options," comments one industry insider. The lack of information may be the result of insecurity among platform providers about how their volumes will actually compare, or it may relate to plans for business development, such as IPOs, but it certainly makes life hard for firms looking to get involved in online FX trading for the first time.

Price Discovery

So given that we cannot compare the platforms in volume terms, how do they line up in terms of trading services? Actually, FXall, Currenex and Atriax are surprisingly similar in terms of their basic models. Broadly, they offer institutions the ability to connect to FX trading firms, usually but not exclusively banks, and to trade bilaterally with them.

There are differences between price discovery mechanisms. For example, FXall offers its users a streaming real-time indicative price feed derived by FXall from live feeds from each bank making prices on the system. A potential buyer can click on an indicative price for a particular currency pair to take it to streaming prices from the banks with which it is authorized to do business. Users click on these prices to trade. "More than seventy-five percent of our trades are handled by automate rate engines and are done in less than five seconds," says Mark Warms, general manager for FXall, Europe. And the indicative prices are also a potential source of revenue - Warms says FXall has had several enquiries from firms interested in buying the data as a benchmark for FX pricing.

Users of Atriax, on the other hand, are categorized as price makers and price takers. Price takers submit requests for quotes from price makers and they can deal on the quotes that come through. "The Atriax price discovery system exactly mirrors the way trades are done in the telephone markets," comments Daniel O`Callaghan, spokesman for Atriax. Meanwhile, Currenex operates several different price discovery mechanisms including multi-bank requests for quotes, streaming live quotes from banks making prices on the system, and one-on-one dealing between counterparties.

The Credit Issue

Since none of the platforms acts as a genuine exchange with a clearing house standing in the middle of each trade, credit is a major issue for electronic FX dealing. All three platforms will only allow counterparties to deal with each other once they have bilateral credit agreements in place. But all have developed or are developing prime brokerage models which they say will offer more trading choice for smaller users. The prime brokerage model is already used in the telephone market for FX trading. It involves a well-capitalised trading firm, the prime broker, booking trades with a counterparty on behalf of another, usually smaller firm. Since the FX counterparty deals with a larger trading firm - the prime broker - it does not assume so much credit risk as it would if it booked trades direct with the smaller firm. The prime broker does a back to back trade with its smaller counterparty (the equivalent of the FX deal the smaller counterparty wanted to do in the first place) so the broker just takes the credit risk rather than the FX risk.

Currenex launched this prime brokerage model, called Enhanced Market Access, at the end of last year, and says it has been well received so far. "Enhanced Market Access enables corporates which may have just one credit agreement with a Currenex bank to trade with many more counterparties via the hub bank [the prime broker]," explains Lori Mirek, chief executive of Currenex. "It offers many players access to deeper liquidity on our platform," she adds. Currenex has three hub banks - Barclays, ABN Amro and Lehman Brothers, and 24 "spoke" banks, the banks willing to deal with the hubs through Enhanced Market Access. Atriax plans to launch a similar service in the middle of the year, it already has a working group developing the process.

Meanwhile, FXall launched a prime brokerage service some time ago but Warms says it is mainly used by a small niche of clients accounting for around 10% of the volume going through the platform. "Small hedge funds, or other firms might use the prime brokerage system because they have specific margin requirements, or they prefer to settle with just one bank. But when it comes to the large buyside clients, they want to spread their credit risk around. They don`t want exposure to just one firm, no matter how large and well capitalized it may be," Warms says. "However, what FXall does offer these larger clients is a process for automating the entire prime brokerage process. Full automation allows banks and customers to better control their prime brokerage relationships," he adds.

Who Pulls The Strings?

Ownership is another difference between the three major FX platforms. Both Atriax and FXall are owned by consortia of banks whereas Currenex is owned by venture capitalists with Royal Dutch Shell Group, the energy firm, and Barclays holding less than 15% between them. Mirek from Currenex emphasizes the benefits of being a relatively independent firm. "We don`t have board members with conflicting interests so we can more easily stay focused on leveling the FX playing field between the buy side and sell side," she says. But others are more skeptical "Currenex is not in business as a charity, they are not independent of the profit motive," comments one competitor.

"FXall and Atriax are both trying to move the FX business online. We may be owned by banks, but the like of JP Morgan, Deutsche and Citibank have not become leaders in FX by ignoring their customer needs. Banks have as much interest in ensuring the platforms in which they have a stake offer a good and fair service to their clients as `independent` platforms do," says O`Callaghan at Atriax.

There are more differences between platforms when it comes to the ways they plan to develop their systems and services. Atriax will start to offer money market products such as short-term deposits in the middle of the year. "The Atriax system was always designed to support FX and money markets, so rolling out money market products has always been part of the plan," says O`Callaghan. Currenex, on the other hand, is continuing to develop its FX Internal system, which allows firms with large global FX operations across many locations to aggregate their positions before they begin to trade on the platform.

FXall is focusing on offering straight-through processing (STP) to its clients. "The FX market is already extremely efficient compared with other markets, so users aren`t focused on an alternative market model. What they do want is to fully automate the deal lifecycle - they want STP. Spreads in the institutional FX markets can be as low as two ten thousandths of one percent, and dealers are estimated to earn a quarter of that spread. With a market that efficient, the major improvements that can be made come through automation and straight through processing," says Warms at FXall.

The Rest Of Us

But institutional investors are not the only ones benefiting from electronic FX trading. Oanda.com was set up last year to offer cheap deals for businesses and individuals. The firm functions as a market maker, but it can keep spreads low because it has such low overheads, and co-founder Michael Stumm says business is going well. "We don`t have a sales and marketing team, we rely on word of mouth marketing, which means we have to make sure clients are pleased with the service they get," he says. Between 20 and 30% of business going through the platform comes from companies and the rest is from retail traders. There are no minimum limits on deal size and spreads are the same regardless of deal size.

With just 16 employees, it is easy to see how Oanda keeps overheads low (Currenex employs 75 staff, Atriax 103, and FXall 70). And Stumm says the system, which not only handles all the customer orders but also hedges Oanda`s own books, cost around $500,000 to develop. He estimates it would cost a bank around $100 million to develop a similar system. "We just have the expertise in-house, and one advantage I have being a professor in computer engineering is being able to pick the cream of the crop when it comes to staff," Stumm says.

He says spreads on Euro/US dollar trades are often around two pips, which certainly offers a competitive alternative for retail traders. Oanda plans to develop its user interface to make it more user friendly and to increase the range of currencies on offer.

Meanwhile, deal4free, one of the first ever online FX trading platforms, is looking to expand its business into the Far East. Set up in 1996, it already has users in 57 countries. Most users are retail, but some of the smaller hedge funds are also registered. The firm opened an office in Australia last year, and it sees plenty of opportunities for retail FX trading in Asia. "Spreads on retail FX trades in Asia tend to be much wider than they are in the rest of the world, so we should be able to develop a string business there," says Roger Hines, chief operating officer of deal4free in the UK. With a staff of around 100, the firm is not as lean as Oanda, but unlike Oanda, it also offers contracts for difference and spread betting - three products offered by several UK-based firms including IG Index and City Index.

While the various online FX platforms battle it out for business, consolidation looms large. But with the subtle yet dearly cherished differences between platforms already so well-established, any merger talks, either with competitors or platforms offering complementary products, may well resemble the mating rituals of the larger traditional exchanges. Nevertheless, the development of the market for online FX trading continues to merit interest from the wider derivatives community for the clues it provides for the progress of other derivatives-related electronic initiatives.

Emily Saunderson.

[andyht]

Hallo,wer von euch hat schon mal bei der www.DiamondCapital.de gehaldelt?Bis jetzt hatte ich nur ein Demo Konto,das hatte mir sehr gut gefallen.
Man kann hier ein Full Konto eröffnen ab 2000US$ oder ein mini Konto entweder min.300$ und 1 kostet pip 1US$ .Dann habe ich aber einen Anruf von Diamond Capital erhalten und man machte mir ein Angebot bei min.einsatz von 500US$ kostet ein pip 2US$.Ich habe jetzt vor ein Konto zu eröffen ,hätte aber gerne vorher Eure Meinung dazu gefragt was Ihr davon haltet!

Gruß Andreas

[WSJReader__]

Bin ich hier im Abzockertreff gelandet, oder wie ?

[WSJReader__]

Mal ne dumme Frage:

Ist Gain Capital noch aktuell ?

Hallo Forex Trader, wer kennt GAIN CAPITAL noch nicht ? Die Platform wurde zur Nummer Eins in der FX Szene gekürt. Wer bei der FA. Ibas-FXDirect den Interbanken Devisenhandel gelernt hat, findet hier eine echte Alternative für den Forex Handel. Leider ist die Platform nur in Englisch erhältlich. Aber wer Interesse hat kann under der deutschen Domain http://www.deviseninvestment.de mal live FX Trading mit real time Kursen schnuppern. Kostet nichts. Viel Spass !

[WSJReader__]

Scheint sich erledigt zu haben:

"Leider muss ich Ihnen hiermit mitteilen, dass meine Zusammenarbeit mit Gain Capital ab sofort und heute beendet wurde ! Ich werde also über oder für Gain Capital keine weiteren Kundenkonten mehr eröffnen. (...) Die Differenzen zwischen mir und GAIN CAPITAL liegen und lagen darin, dass Gain Capital weder in der Vergangenheit, noch in der Zukunft, einen Background Check für die meisten, in Deutschland ansässige Introducing Broker [ Vermittler ] durchgeführt hat oder in der Zukunft durchführen wird. Die Geschäftsleitung und die Berater/Broker der Gain Capital unterstützen somit durch diese Geschäftspraktiken, die Ausnutzung der FX Unerfahrenheit von Anlegern und Tradern in der Bundesrepublik Deutschland, Österreich und der Schweiz durch sogenannte Introducing Broker wie Varengold, HanseFX, Forex Capital Trust und letztlich auch das Unternehmen Diamond Capital, dass neueste Mitglied der GAIN CAPITAL Gilde. (...) Da sich GAIN CAPITAL ganz offensichtlich hartnäckig weigert, die bis dato gezeigte Firmenpolitik unter Bezugnahme auf die Kooperation mit, in meiner Auffassung, unqualifizierten Unternehmen, nicht nur zu beenden, aber zumindest in der Zukunft interne Richtlinien für die Zusammenarbeit und Vermittlertätigkeit aufzuerlegen, sah ich mich leider gezwungen, die Zusammenarbeit zu beenden. Ich habe keinerlei Interesse, im selben Atemzug mit den oben angefühten Unternehmen genannt zu werden und ich distanziere mich ausdrücklich von diesen Firmen und das nicht nur im Bezug auf die Commission. Leider sieht es so aus, dass Einige den Ruf des FX Interbanken Devisenhandels in Verruf bringen werden. (...)

Mit freundlichem Gruss

Elmar H. Miltz
FXInvestManagement"