Low Trading Costs
JFD Brokers provides ultra-low latency Direct Market Access (100% DMA/STP Agency Model) with no broker intervention, no price manipulation and no execution manipulation to Tier1 interbank forex Liquidity and all major Liquidity sources for equities, derivatives and commodities, an absolute first within industry.
Most importantly, we pride ourselves for not marking-up the interbank core spreads, thus offering an exact picture of the interbank pricing, without any filters. JFD’s 100% transparent setup empowers FX traders in the manner as equity traders who always have the exact picture of the pricing of Exchange traded stocks. Obviously, and equally, JFD Brokers does not mark-up the real Exchange spreads for all stock CFDs available on our platform.
Our FX aggregator (i.e. pricing and routing engine) sums up the price-feed of 20+ Top Tier bank and non-bank Liquidity Providers in real-time. Additionally, our Smart Order Routing Technology (SOR) aggregates the fragmented equity, derivative and commodity markets into a single, unified view, systematically scanning 80+ derivatives and commodities Exchanges, including Dark-Pools and Light-Pools as well as primary Exchanges such as the LSE, VIRT-X, NYSE, or NASDAQ.
Offering our clients dynamic and intelligent access to a wide and diverse Pool of Liquidity, our engine supports complex order routing and aggregation rules, as well as multi banded liquidity streams for superior execution especially on high trading volumes. Methodically calculating the probability of execution, to execute on the best Bid and Ask price available at any time in the market, once again our system significantly optimises our clients' execution, notably by capturing price improvement and minimising market impact.
Bottom line: retail clients, institutional partners or Brokers’ clients (seeking institutional Liquidity) putting large Limit Orders into the system will achieve better pricing and fills with JFD Brokers.
You will find below several retail brokers' average spreads in pips as reported by MT4 Ask and Bid prices on each tick between 24th and 28th March 2014.
You can also see spread charts demonstrating the stability of our FX feed. It is interesting to note that our competition's FX feed does widen considerably at times compared to our FX feed which transparently (with no Spread Mark-up) represents the status of the market. Such deviations may be explained either by a significant lack of depth or by intentional price manipulations serving Market Makers' interests within a non-anonymous trading environment (i.e. Market Makers have full visibility on their clients’ Limit Orders, hence can easily predict eventual market moves to Stop Hunt). That is typically shown in the case of Oanda who systematically widens its spread up to an astounding 15 pips in almost every trading week.
These figures clearly demonstrate the undisputable superiority of JFD Brokers' FX aggregation technology, not to mention our extreme level of integrity and transparency.
* XTB did not provide data for the particular period (24-28/03/2014), hence, the figures represent previously available information.
** In 2012, Dukascopy decided to stop publishing official pricing data on MT4i.com.
|Session (EUR/USD)||London||New York||Tokyo||ALL|
|Commission included in spread||Average Spread||Average Spread||Average Spread||Highest Spread|
|Vantage FX (Demo)||1.6||1.6||1.7||6.4|
|Alpari UK (Classic Live)||1.7||1.8||1.3||4.7|
ECN/PRO accounts will typically charge commission on top of the spread, and usually require relatively large deposits and/or minimum trade sizes.
For instance, Alpari's MT4 Pro offering is only available for deposits from USD 10,000, with a minimum trade size of 1 Lot, and additional commission charges. Moreover, Alpari's MT4 Pro offering only enables Forex and Precious Metals trading (i.e. no DMA/STP connectivity to equities, indices, commodities, bonds and more). Also, 100% MiFID compliant Post-Trade Transparency (i.e. Execution Reports) are not available with them, while spreads seems to be Marked-up.
Additionally, we would like to showcase below another proof of the ultimate spread stability demonstrated by JFD's price feed during periods of high market volatility. We take as an example the Non-Farm Payroll (NFP) news which is considered to be one of the major events in the industry that may cause the so-called "spread spikes" (absolute maximum spread values). See below a comparison between JFD's benchmark and the performance of some major Market Making brokers.
|NFP (EUR/USD)||April 2014|
|JFD Brokers (Live)*||3.99|
|IC Markets (Demo)*||4.88|
|Forex Club CIF (Demo)||
|Alpari UK (Classic Demo)||
|Armada Markets (Demo)||
* Commission charged separately.
Note: All spread values are in pips.
Source: MT4i Spread Monitor
Apart from the data on JFD Brokers' core interbank spreads, 100% MiFID compliant Post-Trade Transparency reports are available without any discrimination as a standard for all clients, starting from USD 500 deposits, with a minimum trade size of 0.01 Lots, and the ability to trade 9 asset classes / 500+ instruments via the MT4+ under a 100% DMA/STP Agency Only model.
We shall not comment on FXCM's spreads which we believe represents the absolute opposite of true (No Dealing Desk) interbank pricing!
Needless to say, we are JFD Brokers: your game-changing broker of choice!