Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Szymon

RE: Baxter FX Broker? Is It Good.

Recommended Posts

Does anyone have an account with Baxter FX?

 

I have enquired in the past over two years ago, 1/2 pip spread on all major pairs and 50K US minimum to start an account.

 

Can someone share their experiences with this broker.

 

Regards

 

Simon

Share this post


Link to post
Share on other sites

Their website says the following: "Our order book is supplied with streaming quotes from four major FX banks in 55 currency pairs

24X5. Streaming depth of market is between 3 and 20 million from each market maker. Spreads are discretionary but in general multibank competition creates 1-2 ticks on Majors and Euro Crosses."

Share this post


Link to post
Share on other sites
Their website says the following: "Our order book is supplied with streaming quotes from four major FX banks in 55 currency pairs

24X5. Streaming depth of market is between 3 and 20 million from each market maker. Spreads are discretionary but in general multibank competition creates 1-2 ticks on Majors and Euro Crosses."

 

Thanks Marsupilami for the information.

 

Regards

 

Simon

Share this post


Link to post
Share on other sites
Hello Szymon,

 

where and when did you hear about the half pip spreads? Could it be a misunderstanding ?

Thanks.

 

Hi Marsupilami,

 

Two years ago I enquired in opening a live account with Baxter, the rep first name Alvin mentioned to me that there was a 1pip spread on all major pairs, then a week later he emailed me, that they have been reduced to 1/2pip.

 

So I am not sure if he was for real or not. The platform to my memory was programmed in Marcomedia Shockwave.

 

Another place that have tight spreads and commission based is dukascopy.com minimum is 50K US, I do not know much about them.

 

Regards

 

Simon

Share this post


Link to post
Share on other sites

Hello Szymon,

 

I think I'll contact Baxter when I have time...with regard to Dukascopy - I have seen their platform and talked to several people who trade through them. Spreads appear to be tight, but some say that Duskopy is filling your orders to their advantage ("slippage") so in the end, you do pay more than just a pip spread, but I'm not a customer so I cannot confirm that. Besides that, I just would not go with a Swiss broker ...there is not much regulation in Switzerland and this country is full of shady fx brokers ( not speaking about the big banks here, of course).

Share this post


Link to post
Share on other sites

Hi Marsupilami,

 

Looks like all OTC brokers are playing with their customers. For the last four weeks I have been played by Oanda, with regards to orders being filled at the wrong time, constant disconnection time, etc... So I decided it is not even worth doing with OTC Forex, I now trade the Globex and are happy with that decision.

 

Maybe you should consider trading Globex?

 

Regards

 

Simon

Share this post


Link to post
Share on other sites

Hello Szymon,

 

I have traded CME currency futures before and agree with you about the advantages. It's also a lot easier since you only need one account for trading index futures and currencies, spreads are usually very tight, and it's regulated. Then only problem is that some cross rates are not available...I like to trade the EUR/JPY, GBP/JPY from time to time.

 

Actually, trading on ECNs like Hotspot and Currenex should be ok, too....I was just surprised that Baxter supposedly offers half pip spreads because even on bigger ECN platforms a one pip spread is the norm only in EUR/USD...at least last time I checked.

 

Regards,

Mars

Share this post


Link to post
Share on other sites

Hi,

 

Sorry for this off topic question but since you are talking about futures and I am thinking of trading futures once again my spot account allows it(I'm still several months away) I've got following questions:

 

a.) What's the time when over night margins apply, as a scalper I'm very dependent on leverage(max 1:20)

b.) Can anyone tell me the average daily volume for Euro 6E, Pound 6B and Yen 6Y

- got yesterdays figures: 6E 220K, 6B not available, 6Y 160K, that's about 2-3 contracts/sec of course distribution isn't even throughout the day

c.) as far as I know leverage is around 1:100 is that correct?

- 6E: $125K, 6B 62,500 BP, 6Y 12,500,000 Yen

d.) Sorry I forgot the pip values for 6E, 6B and 6Y, I think for 6E it was $12.5 a pip

- 6E: $12.5, 6B & 6Y $6.25

 

Thanks guys

 

Edit: stopped being lazy and checked what I could find out myself :D

Edited by Sparrow

Share this post


Link to post
Share on other sites

Sorry I erred in the pip values and I am not allowed to correct the post anymore, 6Y is $12.5 a pip.

Also it seems to be 6J ..., it's been a long time since I traded futures.:yes sir:

Edited by Sparrow

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Here’s something few are talking about: The Chinese are printing money like it's going out of style. Not that you'd hear about it in the mainstream news. But Bitcoin knows.   Bitcoin always knows.   Here’s the thing…   When the Chinese government prints money to paper over the cracks, their smart money doesn't sit around waiting to get devalued.   It usually flows into three things: Bitcoin, gold, and dollars.   After years of being beaten down, gold's having one of its best years in decades. But here's the secret -- whatever gold does, Bitcoin's going to do it bigger.   Much bigger.   Since last November, when China started their printing spree, Bitcoin's been moving in near-perfect correlation with the People's Bank of China's balance sheet. Over 80% correlation, maybe even 90%.   Again, few are talking about it.   But here's why this matters right now: This could be the beginning of a huge breakout in the crypto markets.   Bitcoin broke above its July high, and historically, that's led to new all-time highs over 90% of the time. The only times it failed? COVID and the 2022 bear market.   That's it.” – Chris Campbell   Profits from free accurate cryptos signals: https://www.predictmag.com/     
    • Originally Answered: How can I compete with people who are better than me in every way?   So you want to outcompete people who are smarter, better looking and more experienced than you?   No problem!   All you have to do is outwork them.   Will Smith said, "if we both get on a treadmill either you're going to get off first or I'm going to die trying."     Most people just aren't willing to work that hard. Sure, they'll show up for the job interview and maybe practice in front of the mirror for a few minutes, but they won't do hours and hours of research and prepare for weeks. They won't wake up early and stay up late working on their dreams.   So while all those smart, good-looking, experienced people are waiting around for the next opportunity to come their way, you can outwork them and create your own opportunities.   In a few years, you'll be that "smart" person everyone looks up to. But you'll be different. You'll know it was your hard work, your inner strength and your commitment to living a great life that made you successful and brilliant - not luck or good genes.” – Tom Corson-Knowles, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • @sxiqxx, Well done on making your first post a promising strategy. @everyone, post up if you want this coded into an EA. Although I switched to TradeStation, I still have an active MT5 demo with MetaEditor. I can code it without referencing object oriented programming which should be retroactively compatible with MT4. Let me know...
    • Please allow me to retort (in jest): RESPONSE 1 : Get a job supervising others where you're in control of performance reports and ride those others 100%. This makes your performance 100% with little to no effort.   RESPONSE 2: Feel free to piss off your boss but stay nonviolent. When the side effects of his viagra and testosterone boosters cause him to physically assault you, you have the legal upper hand. This can result in a boatload of trading capital.   RESPONSE 3: Feel free to have intimate relations with your boss if she finds you attractive. Rest assured that mum's the word because once again, you have the legal upper hand. This can also result in a boatload of trading capital.   RESPONSE 4: Don't be fake friends with any enemies... unless you need information from them. Being fake friends with everyone will cause you to become an empty shell of a person with no direction in life.   REPONSE 5: Get your boss to become reliant on your performance (really, just the performance of your subordinates), and then plan an "overheard" conversation wherein you fake an interview with another potential employer. You'll probably get a pay increase or a promotion.   RESPONSE 6: If you can give your 75% percent to a project, give 50% and rely on your legal upper hand(s). Learn to write trading algo's during your other 50%.   RESPONSE 7: Take all of the office boys out to nightclub where you merely sip soft drinks on a weeknight. Upon your return to the office in the morning, inform the security guards that all of the office boys are intoxicated. Your boss will love you for it.   RESPONSE 8: Never try to prove your client wrong or find faults in their processes, but do secretly collect their information in case you jump ship or "someone you know" decides to start his own company.   RESPONSE 9: Never stay in a firm for too long. Instead, use your ill-gotten capital to exit the rat-race and start trading.   RESPONSE 10: Trading pays more than your career. Interpersonal skills are now irrelevant. Use your technical skills for trading. Never stop learning and keep updating your technical skills.😁
    • There are a lot of trading strategies like elliot waves, wyckoff etc so we need to apply those who best suited to our need and are understandable too.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.