@FOREX.com, it looks like you all are offering DOM (depth of market) on your trading platform. Will this be available to all retail traders?
Also, if you offer DMA, does that mean Forex.com is moving to a hybrid broker model (dealing desk and ECN+STP)?
@FOREX.com, it looks like you all are offering DOM (depth of market) on your trading platform. Will this be available to all retail traders?
Hi @TradingPanda,
In order to view multiple levels of real time pricing on FOREX.com’s order book, you must have a Direct Market Access (DMA) trading account with us.
FOREX.com now offers three different trading account types (Standard, Commission and DMA).
We are the market maker for our Standard and Commission account holders, while our DMA account holders trade on prices sourced from global banks and top tier liquidity providers – with no additional mark up.
For more details on DMA trading, you can see the FAQ in our main discussion thread.
Interesting link regarding your DMA offering.
@FOREX.com, I have a question.
For your “Commission Account” where one pays $5 commission per 100K, how do you all route the orders?
Is it through your market maker model? Or do you process the order via STP and automatically hedge the trade with an LP?
Hi @Cryptopotamus,
Our Commission accounts use the same market maker execution as our Standard accounts. The difference between these two account types is the Standard accounts have trade on all-inclusive spread, while the Commission accounts have tighter spreads with fixed commissions.
Thanks @FOREX.com.
Got another question. Took a harder look at your DMA offering. Read the other thread you linked to as well.
Can you explain what “First true Prime of Prime agency execution model for retail traders” mean?
My understanding of Prime of Prime (PoP) is they are used by smaller FX brokers who can’t get a direct relationship with a Prime Broker (FXPB). So using a PoP allows the smaller broker to access the PoP’s credit relationship with the PB.
Basically, my creditworthiness sucks or too risky, so I need to piggyback off the PoP’s creditworthiness.
So does that mean that Forex.com is essentially allowing us, puny retail traders, to piggyback off Forex.com’s credit and access liquidity providers (LPs) who wouldn’t normally touch us with a 10-foot pole?
Also, do you reveal your LPs who are price makers for the DMA service?
And could someone using a DMA account also be a “price maker” and not just a “price taker”?
Meaning if you and I were trading on the DMA account, and I created a limit bid order near the top of the book, you would see it (anonymously) in your order book and could take it?
