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If you are a trader, you may just want to utilize ECNs i.e., Electronic Communication Networks which is a computerized electronic system that facilitates trading end executing orders of buyers and sellers.
You may wonder what are the benefits of using an ECN or Currenex? Well, these are trading systems that combine or aggregate the capabilities of several liquidity providers into one platform and allow traders to choose their preferred liquidity source. The prime assets that are traded on ECNs are stocks and currencies for which there is a separate technology to monitor operations.
Of course, there are several ECNs in the market but the best among them is Currenex which is widely popular and continues to grow in popularity day by day. The folks at Currenex have done an excellent job by providing the facility for their users to connect to more than 60 global banks through the FIX protocol.
Credit Suisse, Barclays Capital, Morgan Stanley, Goldman Sachs and Price Markets are some of the big brokerage firms that are associated with the Currenex platform. Users therefore have the privilege of requesting multiple prices from various liquidity providers and can also place a variety of advanced order types.
Some popular benefits traders are enjoying with Currenex include the following.
Multi-dealer trading platform available online
Currenex is used by thousands of institutions and traders simultaneously to connect with multiple liquidity providers and allows them to see and work with the live streaming executable prices. Especially customers into hedge funds are enjoying this benefit a lot.
White Labels for Currenex
The Currenex platform offers a white label solution to many retail foreign exchange brokerages. This is because retail traders may not be able trade directly with Currenex. Therefore, via brokerage firms, retail traders can trade with a number of liquidity providers and enjoy the benefit of getting in full depth of book information at any point in time.
Of course depending on the liquidity providers the brokerages choose, the retail trader may be able to experience benefits accordingly and not as much as traders who would directly access to the platform.
Lots of features and convenience of use
Currenex is accessible directly from a computer which means it is extremely easy to use. By utilizing services by an efficient broker who is well versed with the platform, prospective traders can enjoy the facilities and features offered by the platform and make good profits through effective trading.
