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Thanks, interesting reply and good points. What you say ast the end is right, people need to be able to let trades run. This can be hard when you see that green and grab it.
i left forex cash after fxcm close . loved them fxcm . Moved to futures because of lower taxes . Just forex cash moves are bigger when you hit a good trend . Futures dont have the crosses but you can trade oil/gold .futures Day trading margins low . IG forex just opened in usa . Might open an account with them when they get settled .
Actually the CME does have cross rate futures but there is no volume. I suspect it's the old chicken or the egg syndrome.
Is no one trading them because there is no volume or is there no volume because no one is trading them. I would suspect that the issue is with the CME itstelf. It does a horrible job of promoting pretty much any instruments they offer. Weather and Real Estate. Why are those instruments even on there website at all? CME is truly a strange bird. You know the old saying..."The squeaky wheel gets the grease"? Perhaps prodding them into actually getting the word out on these crosses would gain some traction regarding volume and liquidity. There is some volume so there are market makers in place. Now the bid/ ask is another story I'm sure. Just my 2 cents.
You know you'd be surprised, the CME sends their sales guys to my office every few months to promote these things that no one trades. Once I thought there was actually an interesting opportunity, finally took the bait and asked 1 researcher to spend a month developing a strategy to trade one of these weird things with <100 contracts per day. Then we realized from the analysis that whoever's the other person doing 40%+ of that volume is already using dedicated microwave (about $30k per month) to price it. I'm sure they use the same microwave line for other things, but it's still a lot more hardcore than I was willing to go for 100 contracts per day.
if you are not in the US look for volume for example at https://www.myfxbook.com/forex-broker-volume
volume in Europe/Japan is dropping due to Leverage cut .
The highest Volume you will find in Australia . Don't worry about the distance (down under) when you are in Europe
because the Server are usually in New York (for example of FP Markets or IC Markets)
The ESMA rules have changed the game for many brokers, but the volume is not decreasing in FX. It is actually growing, but it will be concentrated in the hands of bigger brokers.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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