L2 Forex
If you are an institutional or high-volume forex trader you may be eligible to trade directly into one of the world's deepest FX liquidity pools.
Using the advanced DMA software of our L2 Dealer platform, together with Currenex's market leading technology, selected clients can trade into our order book, through us. Our size and reputation give you access to extremely competitive inter-bank spreads.
The advantages
Institutional spreads Enjoy the full benefits of Currenex's leading-edge technology with price feeds from 10 top tier banks producing spreads as low as 0 to 0.5pips on all major crosses
Be a price-maker You can see the full order book for every pair, giving you the option to place your own anonymous bids and offers in the queue
Advanced Orders Our L2 platform supports a full range of GTC and Day orders including Stop, Limit, If Done and OCO orders
Assured liquidity To ensure even greater liquidity and peace of mind, our clients are able to trade and leave orders against our fixed spread OTC prices and order server as well as our Currenex-powered FX order book
Separately logged positions You can separately buy multiple contracts in a single pair via L2 Forex Direct and monitor and close specific positions separately against our fixed spread OTC prices or even run opposing positions - no forced aggregation, you get the benefits of both services
How it works
Our L2 platform uses Currenex API technology to give you a view into our FX Order Book. When you submit an order on L2, the order is placed on IG's order book and we will simultaneously give you a mirrored FX position. Prior to your order being accepted, our system will instantaneously check to ensure you have sufficient funds on account to cover margin for the order. Provided our margin check is satisfied, your order will be placed in IG's Order Book and IG will simultaneously give you a mirror FX CFD position. In this way, IG can offer you FX CFDs whilst giving you direct access to the institutional FX prices.
What we charge
Commission rates start from $30 per million. Minimum deposit on account is $50,000. Volume rebates are offered, please call to discuss.
All charges are basis USD notional amounts dealt. So if you buy 10 contracts of EURUSD (1 contract = EUR 100,000) at a rate of 1.3800 the notional amount of dollars you are dealing is 1,380,000 which at $30/million will incur a commission of $41.40.
*Note that no commission is charged for dealing fixed spread OTC contracts as the charge is contained within the spread. Please see our forex CFD contract details for a list of all the spread charges and margins.
Find out more
If you are an institution or high-volume trader interested in this service, we would be delighted to hear from you. In the first instance you should contact our sales team on +44 (0)20 7633 5461 or sales@igmarkets.com.
Full details and terms of this service can be found in our online Contract Details and our L2 Trading Manual.