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Looking for ways to save money and pips?
Try Dealbook360’s Inter Trader Exchange function.
With the power of ITX, you can essentially become your own
forex dealer by posting your own bids and offers on the ITX
window for all DealBook®360 users to see and trade on*.
Why Use ITX?
ITX allows customers to trade amongst themselves inside the
bid/ask spread. The client is allowed to post or trade on
prices that other clients have posted, inside the bid/ask
spread. By posting or trading on prices inside the spread,
clients can improve pricing by reducing the spread that they
usually pay on.
How do I Use ITX?
Using ITX orders inside of Dealbook360 is easy to do.
Simply log into DealBook®360 and click the ITX icon on the
main toolbar. Now, you will have a list of all currencies you
can trade through the ITX feature of DealBook®360. Select
any currency pair from the dropdown menu to bring up the
current BID/ASK price window. Below GFT's prices, you will see
all ITX orders that are posted by other GFT clients.
Inter Trader Exchange is just another feature that sets
DealBook®360 apart from second-rate forex trading software
provided by other trading firms.
- GFT remains the counterparty on all transactions.
ITX is a liquid-matching system allowing traders to
transact with each other inside the current, tight bid/offer
spreads provided by GFT.
The ITX system allows traders to trade with each other*
with the possibility of obtaining an even tighter spread than
may be offered by GFT at a particular moment in time. With ITX,
traders can make their own markets for execution with other
traders.*
Not only are you able to transact on up to 20 million on
most major currency pairs during GFT hours at 3 to 5 pip
spreads, but you get the benefit of placing or hitting a deal
possibly at a better price than what GFT is currently quoting.
A $5 fee is charged to the "initiator" (the
trader who places a bid or offer) and the
"aggressor" (the trader who hits the bid or offer).
If GFT is the aggressor to the initiators' bids or offers, no
fees are charged to the trader.
Let's use the following example:
GFT is currently pricing the EUR/USD market at 1.2000 bid
and 1.2003 offer. This means that GFT is willing to buy from
the client at 1.2000 and sell to the client at 1.2003.
ITX allows the client to place a bid for all other
clients at 1.2001 and if another client wants that price
they can hit the bid and sell at 1.2001 instead of 1.2000
that GFT was offering. The client who placed the 1.2001 gets
to buy at 1.2001 instead of 1.2003.
Client B "hits" Client A's bid and is short
from 1.2001 instead of 1.2000, which is a savings of 1 pip
or roughly $10 per $100,000 in volume.
Client A accepts the offer and is long from 1.2001
instead of 1.2003, which is a savings of 2 pips or roughly
$20 per $100,000 in volume.
Thus, the spread between the bid and the offer is negated
and both parties get the better price.
* Note: GFT remains the counterparty on all
transactions.
Try the GFT Forex Trading Platform
RISK FREE for 60 days. With a demo account and DealBook®360 software, you can practice currency trading at your own
pace, using the same real-time data and quotes available to
Live Account holders.
CLICK
HERE
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