See You Later, Aggregator: Which American Brokers Use Quotix and Dow Jones
Every respectable and reliable broker has to join forces with a liquidity aggregator. In case a brokerage firm can’t name one they work with, it arouses suspicion. Naturally you may think that it’s another scammer (and rightfully so). Liquidity aggregators specialize in combining info on quotations.
In turn this allows traders to compare and analyze different prices from different liquidity venues. In the long run it: a) minimizes slippage; b) guarantees tighter spreads; c) provides a single price stream with the option to choose the best prices.
Player 1. Quotix
Quotix Limited is an aggregator based in Limassol, Cyprus. It provides trading and aggregating services to the foreign exchange brokers. Tools offered by Quotix include:
- Ready-to-use trading platform.
- Management/monitoring application.
- Accurate liquidity bridge.
- Liquidity engine.
The company has been around for almost 4 years (founded in 2010). In 2014 the aggregator got acquired by UK’s top foreign exchange broker FXPro. Additionally Quotix was mentioned in a company overview by Bloomberg.
The known online brokerage firms that relied on Quotix were:
- OMF – a platform from New-Zealand.
After the purchase, Quotix has been closed, according to Crunchbase. As of now, its solutions can be tried out through trading at FXPro only.
Player 2. Dow Jones
Technically, Dow Jones & Company was the first financial news provider in history. The Dow index is one of the most popular and watched stock market indices in the financial world. This index lists some of the biggest companies in the world, according to their market capitalization: Coca-Cola Company, MacDonald’s, IBM, Nike, Goldman Sachs etc. This way you can track how any given major company’s stock price changes in real time.
Online brokers that use the Dow Jones index:
- City Index.
- Capital Markets LLC.
- FX Open.