The offered Currenex platforms (ECN) use live, streaming, executable forex pricing for instant execution. Spot prices are displayed and refreshed in real-time on a single screen. The BEST for news traders and scalpers, in fact for all kind of traders who would like to trade in all market conditions with directly past through interbank spread and at lowest trading costs.
A great easy to use trading platform (ECN) with a high volatile price feed, instant trading and execution and very high liquidity (provided by over 70 banks) probably the best on the market today. Trade 80 currency pairs incl. Gold and Silver, with spreads from 0 pips. No Dealing Desk and One Click Dealing.
Live account opening: If you want to open the live "25K Currenex" account, click here, for the live "35K Currenex" account, click here.
Traders utilizing the Currenex platform will enjoy access to a.o. following elements:
User defined One-Click trading buttons
Executable Streaming Prices (ESP™), Request For Streams (RFS), Benchmark Trading, Algorithmic Trading, and complete Prime Brokerage functionality with fully integrated Straight Through Processing (STP).
Currenex connects more than 70 global banks to a superior electronic trading network, making Currenex one of the deepest liquidity pools in Forex; high price feed volatility, Instant trading and execution.
2 Trading platforms available: "Java" Based and "Web" based (trade anywhere you like)
The Currenex service includes flexible, automated order functionality within both the ERFS (Enhanced Request for Streaming) and ESP™ trading options. Automated order processing improves trading efficiency and accuracy by eliminating errors, saving time (no need for phone confirmation that an order has been filled) and streamlining the confirmation process. Placing orders via Currenex enables complete trading records to be maintained electronically for ease of reporting and monitoring.
On the Currenex service, users can place all type of orders, like Market, Limit, Entry, OCO, If Done, At Best and Stop Loss orders exclusively with user-defined bank counterparties. ESP™ Limit Orders are filled automatically by the first counterparty bank to stream a price that matches the order.
For instance, the iceberg and hidden order types allow a trader to place a large order without alerting the marketplace of the true size of their order.
With an iceberg order, you specify exactly how much of your order you want to display. With a hidden order, while your order is still in the market, no part of the order is visible to any of the market participants.
Enhanced RFS (Request for Stream): Users request prices from multiple (user-defined) banks by clicking on the real-time streaming indicative rates displayed on new 'Currenex Rates' screen. Executable prices are presented for user to select by clicking on desired counterparty price OR by using 'Accept Selected Quote' button to hit best price available.
ESP™ (Executable Streaming Prices): Live, streaming, executable bids and offers are available for instant execution on our FXtrades® trading platform. Spot prices (in your chosen currency pairs) are displayed and refreshed in real-time, and users can trade multiple order types including Market, Limit, Stop, Reserves (Iceberg & Hidden), and Pegged with different expiry conditions. Client-defined bank lists allow clients to direct their requests to multiple counterparties simultaneously. Furthermore, Currenex lets users split and roll trades across multiple accounts and dates with the ability to place orders and chat directly with a bank.
Trade Status Area - to view order placement and execution notification offers unprecedented visual access to the status of pending deals, done deals, and resting orders; gives users the ability to rapidly modify or cancel individual active orders, and complete partial fills.
Advanced Market Depth choices for ESP™: - Standard (set in preferences), Consolidated (aggregated price and amount available), and VWAP (volume weighted average price).
Credit Limit button - displays the users credit limit(s) and how much has been used. The button itself will also change color to alert users as credit limits are approached or exceeded.
Live update of average price, net position and all in rate of day's Spot trades (ESP™, RFS, direct and Benchmark); copy and paste data into spreadsheets
Enhanced Daily Spot Positions Tab now shows currency pairs by base AND term amounts; average price of all Spot buys and sells (separately and by currency pair); net position (total long and short position by currency pair) and all in rate - the all in cost average for spot transactions, including realized and unrealized P/L in the Currenex trading day (17.00 EST to 17.00 EST).
Excel based spreadsheet trading allows the ability to have live streaming executable prices and make real-time automated trading decisions.
Access to prime broker(s) network
Trade Templates and Drafts offer enhanced user customization - buy-side users can easily recall pre-defined fields for frequently repeated trades.
Request your preferred practice Account.
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Notes:
1. Spreads may widen during high volatile market conditions.
2. The margin (institutional platform) of 1% of 1 traded lot of USD100,000 doesn't necessary mean $1000. Only where the base currency is USD, like in USDJPY, USDCAD etc., it always is $1000. At an available margin of USD50K you can trade a max. of 50 lots of USD100K at a leverage of 100:1.
If the base currency is different, like in GBPUSD, the margin is depending on the currency rate. Example: If the currency rate of GBPUSD = 2.0000, this means a margin of $2,000 (2 x $1,000). At an available margin of USD50K you can trade a max. of 25 lots of USD100K at a leverage of 100:1. The same is valid for all currency pairs where the GBP is the base currency. For all other base currencies you can use the same calculation method.
3. No negative balance protection on the platform.
