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We are a group of autotraders that started our own brand new brokerage that just launched. Our technology was just recently completed. We use Metatrader4, with custom direct-connections to the liquidity providers. So it's not your typical MT4.
It is important to note that we are NOT a large commercial brokerage. We started it for ourselves. Therefore the brokerage is NOT our primary business, trading is.
The format is for us autotraders, we have a direct line to the liquidity providers so our spreads are like ECNs (1/2 pips on EURUSD average spread during normal hours). We don't charge commissions or widen the spreads or alter the prices in any way. Only a monthly fee to help us cover costs.
Our goal is to have other traders join us to increase volume. When we hit our next volume tier, we get another price break on the spread, which means even narrower spreads.
The NUMBER ONE difference between us and other brokers is that we are NEVER EVER a counterparty to your trades, EVER! We go to great lengths to insure that. We don't want any part of your trades, so we NEVER EVER have the other side. Seriously.
We have support for live traders, but do not have support for educating traders.
We have a minimum deposit of $100, not to attract beginning traders, but to let traders try us out with minimum risk.
We've been there. We understand that there are no words, and no purpose to try to tell you to "trust" us, and that you have to prove it to yourself. So $100 will allow you to trade, and see the execution, spreads and fills, etc. in live trades yourself.
We don't have any trading-desk or engage in any hanky-panky. We aren't counterparty, so we can't profit from your losses.
The bottom line is that we are all traders here. All of us, including you, trade on the exact same spreads, same quotes, same prices, same order execution, same everything.
It's a collective afterall.
I've tried to ask permission to make this post but without reply so far. If it is in anyway contrary to the rules of the forum then please remove the post and accept my apologies.
Given our newness and our completely different Brokerage model then there are many different things that can be thought of as 'suspicious' about us.
Trust is something that is earned. We recognise that and would encourage everyone to do their due dilligence when appraising any Broker, including us.
You reference us not naming our Liquidity Provider. I have included the section from our site that references them.
"Who is your Liquidity Provider?
We have multiple Liquidity Providers.
We don't state who our curent Liquidity Provider is for fear of making misleading statements.
As we've stated before it is our absolute goal to make the cost of our trading cheaper. As such we are already talking to several other providers.
Once we negotiate better rates we will move (transparently to our clients) and thus the Liquidity provider that we use today may not be the same as the one we use next week.
They are all top tier providers such as UBS, Deutche Bank, Saxo, Hot Spot, FXCM, Currenex, Barclays, BOA, etc. though, so rest assured they are as good as it gets."
Thank you for you comment, clearly 'suspicion' is something that we have to overcome and thus we welcome anyone voicing their concerns about us. If we can answer your questions honestly and without disclosing any of our 'trade secrets' that other Brokers might use to try and ruin our 'party' then we will gladly do so. However, we'll never try and convince you of anything, ultimately the decision is yours and yours alone.
I don't think I understand, the answer about our Liquidity Providers is in one of my previous posts.
"They are all top tier providers such as UBS, Deutche Bank, Saxo, Hot Spot, FXCM, Currenex, Barclays, BOA, etc. though, so rest assured they are as good as it gets."
I assume you managed to get your demo installed as you didn't contact me directly.