How much trading cost can I save?
High-performance technology comes at a cost, but active traders whose trades generate millions in volume per day can save significantly on institutional-class execution, competitive commissions, and swap rates. This helps provide a superior service when compared to standard, retail FX brokers.
What are the hidden costs of FX trading?
FX trading is not free, as many traders tend to say. The trading commission is typically included in the bid/ask spread quoted by the broker. The larger the spread, the larger the trading commission charged. In addition, when you execute orders in fast market conditions, you can experience large slippage costs on the executed price, which can significantly impact your return balance at the end of the year.
How can the Wakett Box help me minimise slippage costs?
Slippage is calculated as the difference between the targeted price and the executed one. For market orders, it is the difference between the best bid or best ask market price when the order was generated compared to the executed one. The slippage is shown in pips, bps, quote currency, and converted to account currency. The Wakett Box itself manages the best bid, best ask, and mid prices in real time to trigger orders. It also and calculates the slippage cost for each execution.
How can Wakett Box help me monitor my swap costs?
In the Wakett Box, you can monitor the swap rates applied by the broker before the rolling time. Through it, you can also can manage multiple positions for each symbol, but only the net position is rolled at broker. The swap cost applied by the broker is then proportionally attributed to each position.
How can I connect my trading account to the Wakett Box?
To trade with your broker through the Wakett Box, you'll need to ask your broker's Account Executive to enable FIX and API integration. Once your brokerage account is set up, you can subscribe the account to your Wakett Box plan and start trading.
How fast is the execution?
When sending orders to brokers, the Wakett Box reacts in less than a millisecond, and brokers match orders according to their own speed. Your orders and executed trades have a millisecond timestamp, so you can monitor how fast your execution is. The speed of light between your trading server and the broker matching engine is the only physical barrier that you can’t break. That’s why cross-connectivity with the broker matching engine is recommended for professional traders.
WHAT IS THE BENEFIT OF BETTER PRICE EXECUTION?
Enhancing the executed price by merely 0.2 pip per million translates to a gain of 20 dollars per million. Trading 50 million yields a 1,000 dollar profit. Even if you're not trading hundreds of millions each day, securing better prices enhances performance.
How can the Wakett Box's alerts help me with my trading?
The Wakett Box has an alert system that can notify you through multiple channels, including automated emails, phone calls, SMS, and WhatsApp. Trading risk metrics, connectivity, and liquidity controls are applied in real time, and the Wakett Box can notify you automatically to keep you informed.
How can the Wakett Box help hide my strategy from LPs?
The Wakett Box keeps orders in memory on its trading server and sends orders to brokers when triggered by market prices. This keeps all your pending orders hidden from others. You can monitor the status of each order using the order table and heatmap chart. When the orders are pending on the trading server, they will not be visible on your broker's trading platform. Only the orders with the status "received'' are pending at broker. In addition to the broker margin, the Wakett Box calculates and shows you the margin of the pending orders in the trading server.
Can I continue to trade via the broker web platform with the Wakett Box?
If you place an order directly on the broker's web platform, the Wakett Box will encounter an error and stop managing your positions. You can still access the broker's web platform to monitor your account, positions, and download statements. The Wakett Box sends and receives orders directly via FIX with broker, so any manual trading activity through the broker's web platform will generate errors because it is not synchronised with the positions as required in the Wakett Box order entry form.
