Starting September 1, Interactive Brokers stop offering leverage-based FX trading to selected clients. Can anybody suggest alternative brokers who allow the client to be a market maker? By that I mean that the client should be allowed to influence the bid-ask spread visible to other traders on the platform. The client should be allowed to be the seller at the “ask” and the buyer at the “bid”.
For example, If the bid-ask spread on EUR/USD is 1.12 – 1.1201, Interactive Brokers allows you to enter a sell limit order at 1.12005 and it will get executed ahead of all the 1.1201 sell limit orders. On the other hand, somebody like FXCM will ignore your order and will execute other buyers against the 1.1201 “liquidity providers” (who obviously share their revenue with FXCM one way or another). Does anybody know brokers besides IB who would not put their clients at a disadvantage to “liquidity providers”?
Serving the Quantitative Finance Community
Re: Alternatives to Interactive Brokers that allow market making
I'm not 100% sure, but check out Dukascopy.