Prime of Prime Broker | Page 5 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

From Retail Broker to Prime Broker and WHY 26 replies

Looking For A New Broker Since Boston Prime Went Bankrupt 33 replies

Boston Prime - best broker for Scalpers? 18 replies

Rabobank Prime Broker FX 23 replies

Institutional Prime Broker Relationship 0 replies

Attachments: Prime of Prime Broker
Exit Attachments

Prime of Prime Broker

  • #81
  • Feb 22, 2015 12:59am Feb 22, 2015 12:59am
Quoting M967
There're a lot of factors to understand. Everything depends on your trade skill level. High margin gives your broker more money in case of negative balance of any Black Swan. It supposed that high margin keeps you away from taking excessive risk positions and nothing more, but who cares!
Even at Anton's 5 times, he would've been wiped out by the SNB.

Ha not so accurate anymore huh
  • #82
  • Feb 22, 2015 2:17am Feb 22, 2015 2:17am
Quoting plotinus82
{quote} Anyone who listens to Anton is completely despised at in the professional world, this guy was fired by JPM ages ago for losing too much money. Lex Van Dam found him to do the documentary because he was the only available one.
You know him personnaly ?

Quoting plotinus82
{quote} Anyways, I plan on going with FIXI, thoughts?
Good choice. With this kind of brokers, there's not a lot of differences... Fixi, Baxterfx, CFH Clearing, IG Markets belong to the upper class of brokers.
  • #83
  • Feb 22, 2015 3:38am Feb 22, 2015 3:38am
Quoting MaximeCau
{quote} You know him personnaly ? {quote} Good choice. With this kind of brokers, there's not a lot of differences... Fixi, Baxterfx, CFH Clearing, IG Markets belong to the upper class of brokers.

Yes... I am very close to people who has worked with him. His full story was that he started at Goldman when Goldman was still very nimble. He was then left to join JPM to trade chemical stocks. He was only a Vice President/executive director. Then he lost too much money , he was fired from JPM contrary to his theory and story that he retired cause he made too much. It's very funny how someone who has never worked at a hedge fund talking about a hedge fund as well as criticising their talent development. In reality there is indeed no talent development another and it's just talent acquition, my friends running money at Bluecrest Tudor knows it very well. But do you rather be mentored by an experienced money manager or a Vice President like anton? He's just a scam teaching the basics.
  • #84
  • Feb 22, 2015 4:20am Feb 22, 2015 4:20am
Quoting MaximeCau
{quote} Booking is used by Market Makers. IB pretends they have an ECN trading environnement. That's means all particpants have access to the same quote feed and liquidity. In a ECN, there's no broker, only an agency which match orders between participants. There's two models : - either : STP/DMA : the broker STP orders to the interbank market, minimum trade size : 100k of the based currency (IG Matkets) - or : ECN/STP : the agency match electronically orders, minimum trade size : USD 100K. It depends on ECN. But a good ECN with good liquidity providers...
How does "ECN" like Interative Brokers execute small trades? Easy. They execute your trade with a padded spread. Their threshold is $25K trade size. Like I said before, any trade size reaching that size and above gets the raw interbank spread and anything below it gets a worse price. And retail traders DO become market makers from time to time. You actually see those small orders on their in-house designed, java-based trading platform, FXTrader. You get an alert that a better price is available through IDEAL (the system where all the < $25K trade size is sent) and you can see those alerts either on the bid or ask side. And when you hover your mouse over it, it will show you the price which is usually better than the current best bid or ask by like 10 pips but the trade size is like 800. And you can choose to hit or not and if you choose to hit it, you just became a market maker that filled somebody's order.

To me that's closest to a true ECN.
Make your losses in demo. Earn your profits live.
  • #85
  • Feb 22, 2015 5:04am Feb 22, 2015 5:04am
Quoting plotinus82
{quote} Yes... I am very close to people who has worked with him. His full story was that he started at Goldman when Goldman was still very nimble. He was then left to join JPM to trade chemical stocks. He was only a Vice President/executive director. Then he lost too much money , he was fired from JPM contrary to his theory and story that he retired cause he made too much. It's very funny how someone who has never worked at a hedge fund talking about a hedge fund as well as criticising their talent development. In reality there is indeed no talent...

I couldn't agree more, I don't know Anton personally either, but form what I've seen over the internet about his teachings it smells fishy, it was always this way.

@plotinus you seem to be a knowledgeable guy in the industry, may I ask you, if I'm not too inquisitive, if you're working in the private asset management industry or you're just a retail guy? Thanks
  • #86
  • Feb 22, 2015 5:18am Feb 22, 2015 5:18am
Quoting triger88990
{quote} I couldn't agree more, I don't know Anton personally either, but form what I've seen over the internet about his teachings it smells fishy, it was always this way. @plotinus you seem to be a knowledgeable guy in the industry, may I ask you, if I'm not too inquisitive, if you're working in the private asset management industry or you're just a retail guy? Thanks
I'm a PM in a Macro Fund who deals with a lot of the funds operations too. I'm here because I do a bit of PA trading too. As long as the regulations and staff code allows
  • #87
  • Feb 22, 2015 5:19am Feb 22, 2015 5:19am
Quoting triger88990
{quote} I couldn't agree more, I don't know Anton personally either, but form what I've seen over the internet about his teachings it smells fishy, it was always this way. @plotinus you seem to be a knowledgeable guy in the industry, may I ask you, if I'm not too inquisitive, if you're working in the private asset management industry or you're just a retail guy? Thanks
Not any sensible and good educator would say "investment banks DESTROYED in this awesome presentation." For their own promotional videos right?
  • #88
  • Feb 22, 2015 5:43am Feb 22, 2015 5:43am
Quoting plotinus82
{quote} I'm a PM in a Macro Fund who deals with a lot of the funds operations too. I'm here because I do a bit of PA trading too. As long as the regulations and staff code allows
Nice, that's always good to know as I'm always looking to learn more about the industry, especially from experience guys like you. As the saying goes you never stop learning something new and that's even more true in this industry. I'm really passionate about it and thirsty for knowledge and as PT Jones would say:

Quoting PT Jones
"The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge."
Hasn't the macro trading become more difficult in the recent years as lately the macro HFs return are diminishing maybe this is also, in part, because the machines are taking over the markets, like the famous Virtu algo: http://www.zerohedge.com/news/2015-0...-once-1485-tra
  • #89
  • Feb 22, 2015 6:23am Feb 22, 2015 6:23am
Quoting triger88990
{quote} Nice, that's always good to know as I'm always looking to learn more about the industry, especially from experience guys like you. As the saying goes you never stop learning something new and that's even more true in this industry. I'm really passionate about it and thirsty for knowledge and as PT Jones would say: {quote} Hasn't the macro trading become more difficult in the recent years as lately the macro HFs return are diminishing maybe this is also, in part, because the machines are taking over the markets, like the famous Virtu algo:...
PTJ is a friend.

No, HFs returns are diminishing on the midst of diversification and people getting too "creative" refer to Paulson after he made a killing on the CDS of the Subprime market. As long as Investment Management companies focus on what they do well, it's very difficult to deviate too much from past performances.... But when people start new funds then people either consistently do OK or they get too distracted......
  • #90
  • Feb 22, 2015 8:53am Feb 22, 2015 8:53am
Quoting grin
{quote} The only function of margin - guarantee of settlement. Margin is not a risk management tool for those who put it (risk is the same irrespective of ratio). It is risk management tool for your broker. CHF event shows that settlements lapse or put at risk when there is no money in margin accounts. People come up with all sorts of excuses to avoid liability.
You'll have no idea how difficult it was for the global head of my PB last month trying to collect margin and PnL
  • #91
  • Edited 4:26pm Feb 22, 2015 11:30am | Edited 4:26pm
[quote=plotinus82;8086526]{quote} You can only trade on Velocity if you're using Citi Margin FX, not Citi FX, there's kind of a difference. Margin FX is institutional only. I have dealt with them.[/quote


Citi has many FX directions.
  • #92
  • Feb 22, 2015 11:44am Feb 22, 2015 11:44am
Quoting MaximeCau
Does anyone have tried "barclays trading hub" ? They offer FX CFD.
Barclay offers standard menu of FX services but does not allow margin trading , only credit base, KYC process is very long, can take months.
If you are already their customer you can get access to BARX with sufficient funds, but they also have different price feeds for each client.

Trading with bank on SBP can be a challenge, if you are not big enough. Their spreads and execution depend very much on your monthly flow.
  • #93
  • Feb 22, 2015 11:56am Feb 22, 2015 11:56am
Quoting plotinus82
{quote} Anyways, I plan on going with FIXI, thoughts?
Not sure about Fixi
Try CapMar financial or Kytegroup.
  • #94
  • Feb 22, 2015 1:03pm Feb 22, 2015 1:03pm
Quoting M967
Quoting plotinus82
{quote} You can only trade on Velocity if you're using Citi Margin FX, not Citi FX, there's kind of a difference. Margin FX is institutional only. I have dealt with them.[/quote Citi has many FX directions, tradestream, Citifx pro, CitiFX, all streams, except of Velocity 2.0, are aggregated, even more you can traden on 3rd party platforms as well. There is older version of Velocity 1.0 so can be used as GUI for your choice. Velocity 2.0 is a SBP like NEO UBS, Cortex BNP, BARX, etc. But all that details are not so Important.
...
Prices are fine, but Citi's FX team is stuck up and has bad attitudes, not helpful at all.

They have a PB minimum of 360,000 USD per year, and you pay 12 Bucks per mil including give up fee, how much would that take for you to trade to make it?

Crazy minimums, busted their client limits, kicked 150 of them out, hopeless PB, good LP
  • #95
  • Feb 22, 2015 1:09pm Feb 22, 2015 1:09pm
Quoting M967
{quote} Not sure about Fixi Try CapMar financial or Kytegroup.
Kyte is more about stocks, does seem like FIXI might be better than CapMar, more platforms, more liquidity.

I mean anyone who can give out Currenex hotspot integral logins are not fking about, you just know that cannot be obtained by scammers.
  • #96
  • Feb 22, 2015 1:15pm Feb 22, 2015 1:15pm
Quoting M967
{quote} Barclay offers standard menu of FX services but does not allow margin trading , only credit base, KYC process is very long, can take months. If you are already their customer you can get access to BARX with sufficient funds, but they also have different price feeds for each client. Trading with bank on SBP can be a challenge, if you are not big enough. Their spreads and execution depend very much on your monthly flow.
This CFD bs from Barclays is a white-label of City Index, avoid it lol
  • #97
  • Feb 22, 2015 1:15pm Feb 22, 2015 1:15pm
Quoting plotinus82
{quote} Kyte is more about stocks, does seem like FIXI might be better than CapMar, more platforms, more liquidity. I mean anyone who can give out Currenex hotspot integral logins are not fking about, you just know that cannot be obtained by scammers.
FIXI: who is their PB bank? What platforms and LP they offer? What kind of seggragation they offer?
  • #98
  • Feb 22, 2015 1:19pm Feb 22, 2015 1:19pm
Quoting plotinus82
{quote}{quote} Prices are fine, but Citi's FX team is stuck up and has bad attitudes, not helpful at all. They have a PB minimum of 360,000 USD per year, and you pay 12 Bucks per mil including give up fee, how much would that take for you to trade to make it? Crazy minimums, busted their client limits, kicked 150 of them out, hopeless PB, good LP
I heard about very strange Citi support stuff, they don't care about clients at all.
  • #99
  • Feb 22, 2015 1:28pm Feb 22, 2015 1:28pm
Quoting plotinus82
{quote} Kyte is more about stocks, does seem like FIXI might be better than CapMar, more platforms, more liquidity. I mean anyone who can give out Currenex hotspot integral logins are not fking about, you just know that cannot be obtained by scammers.
I think Pricemarkets can be an option as well. They accept bank's guarantee, no need to open account with them, can offer clearing service to EBS platform through their Prime Bank, I think that's not bad option at all.
  • #100
  • Feb 22, 2015 1:30pm Feb 22, 2015 1:30pm
Quoting M967
{quote} I think Pricemarkets can be an option as well. They accept bank's guarantee, no need to open account with them, can offer clearing service to EBS platform through their Prime Bank, I think that's not bad option at all.
You have to trade 100M a month. Difficult for retail customers....
2 traders viewing now