Futures & Forex Trading

Futures & Forex Trading

Our extended menu of online trading solutions contains advanced functionality for order execution, trading, pricing, automation, analysis, and risk management on spot forex markets as well as electronic and open outcry futures markets covering derivatives for equities, financials, currencies, metals, energies, grains, and commodities.
BH Capital delivers a reliable and stable trading environment to meet the exacting requirements of professional traders. New market connections are continuously added as new electronic markets emerge. Our technology allows customers to fully automate advanced trading strategies as well as straight-through processing of order flow for maximum performance. To the pit or to the screen we have the solution for you. State-of-the-art execution technology, proven reliability, exquisitely designed with advanced functionality.
Click below to choose a platform.  
CQG Trader™

CQG™ offers one of the most extensive and reliable data and market analysis tools in the industry. For over 25 years, professional traders have relied on CQG’s™ accurate, uninterrupted, high-quality data. CQG™ provides a large variety of customizable charting techniques and formulas to fit the needs of any trader.

Essential features of the CQG Trader™ platform include:

- Alert Trader − automatically places orders when price, time or condition alerts are met
- Exchange Traded Spreads − guaranteed execution of all legs and allows execution of multiple-leg orders
- Fungibility − supports contract fungibility between futures, options and contract months
- Q Formulas − ability to define specific market spreads to quickly analyze price relationships between various markets

Take a look at the CQG Trader™ platform:

CQG Trader

CQG Integrated Trader™

The CQG Integrated Trader™ builds on CQG Trader’s™ solid technology to execute orders faster and to provide greater market analysis tools.

Additional features found in CQG Integrated Trader™ include:

- CQG’s ChartTrader™ − easy order entry with market depth buy/sell columns next to the pricing scale for one-click order    execution.
- HeadsUP Display − allows traders to place orders from a chart or from the DOMTrader™ (depth of market view)
- TradeFlow ™ Charts − show the electronic market aggression by graphically displaying trade volume at the bid versus at the  offer to see instant price changes.

Here is a quick view of the CQG Integrated Trader™:

CQG Integrated Trader

TT X-Trader®

X-Trader is the flagship product of Trading Technologies. TT offers this high performance software for professional derivatives traders. Designed to get your order to the market first, trades can be executed with a single click. See for yourself why X_TRADER® sets the standard for trading screen performance. Vertical Market Depth, high-speed connection to multiple markets, streaming real-time fill and position details, Average Price Highlighting, fully customizable interface.

- TT XTrader
- Loaded with advanced trading strategy support, supremely reliable and reflex-fast
- Useful for professional derivatives traders, brokers, and market makers
- Trade via the web or any remote connection
- Vertical market depth display allows immediate reaction to market ebb and flow
- Excel and analytics links
- View working orders, fills and market depth from a single window
- Single-click trade execution

Average price highlighting providing traders at a glance whether open positions are profitable relative to market conditions
Supports market orders, limit orders, multiple contract orders, calendar spreads, interproduct spreads
Fully customizable interface

TT X Trader

Pats J-Trader®

For high volume online futures traders, and the majority of our institutional futures traders – breakthrough technology displaying crucial, full “depth of market” data, Level II type trading, fast single click trading and cancel, global exchange access, high-speed connectivity and multi-route reliability, streaming real-time quotes, customizable user interface, Calendar Spread Matrix, volume, time & sales, streaming real-time P&L window, and much more.

- Algorithmic Trading
- Pats J-Trader
- Based on the J-Trader (PATS) platform
- Designed for the electronic futures markets
- Instant executions – no review and release
- One click order routing
- All exchange recognized and a range of synthetic orders
- Customizable windows
- Real-time P&L and position update
- Single and multiple account trading
- Optional trading packages available
- Algorithmic Trading

Strategy Runner™

Strategy Runner is a high performance, sophisticated yet easy-to-use trading platform that provides complete dual functionality. It offers fully automated trading with execution of trading strategies including real-time transparency and full control over strategy execution, Market Depth, Direct Order Entry, Bracket feature for setting price levels, including trailing stop definition and OCO orders, and much more. Algorithmic Trading.

Strategy Runner

- Advanced solution for the dissemination and execution of trading strategies, signals and orders originating from TradeStation - - or other platforms (API availability)
- Automate exits such as scale-outs, brackets, trailing stops, and proprietary exit strategies.
- Real-time transparency of strategy performance using graphical monitoring
- Full control over strategy execution and the ability to modify or liquidate strategy as desired
- Ease of diversification and re-balancing of your trading portfolio: Add, delete, run, and stop systems as desired
- Tick-by-tick accuracy of strategy execution

Ninja Trader®

The introduction of the NinjaTrader platform in July of 2003 raised the bar for real-time trading applications when it pioneered the introduction of Advanced Trade Management. Since then, each subsequent release has introduced powerful customer driven enhancements. This is especially true for the current release, NinjaTrader Version 6, which has added full system development, backtesting and automation features to our industry leading order entry features making NinjaTrader a true end to end trading platform.

Ninja Trader Highlights:

- Innovative Order Entry Screens
-Trade directly from the charts
- Single Click Order Entry/Modification
- Advanced Trade Management
- Tradestation Integration/Compatibility
- API availability

The feature rich NinjaTrader platform and free distribution model already make it unique in the trading industry, but NinjaTrader doesn’t stop there. We further extend the end user value proposition with a variety of complimentary services to positively impact the trader’s experience and potential for success including:

NinjaTrader is a FREE application for advanced charting, market analytics, system development and trade simulation
Trade Anything. Trade Any Style. Trade Anywhere.

- Full support for futures and forex
- Tools for discretionary and automated strategy traders
- Continual education through Media rich product Help Guide and training videos
- Daily interactive online NinjaTrader product training
- Weekly online trading education sessions
- Online NinjaTrader partner introductions

User friendly and flexible purchase options if and when you want to trade live. NinjaTrader is an industry leading trading platform that can provide you with the edge you need to be an effective trader.


RANorder, from Rolfe and Nolan, has been a staple of our electronic trading menu for over 10 years. RANorder is one of a handful of platforms on the market providing access to both electronic and open outcry futures products. Importantly, RANorder routes directly to broker workstations in many markets, avoiding the time delays and error potential for orders routed to trading desks. It is the number one choice among our brokers who enter orders on behalf of customers and our clients who trade across a broad spectrum of futures products.

Additional features include:

- Allows users to “park” orders to quickly place trades in moving markets
- Utilizes HTML, XML and Windows-based front ends for easy order entry and account access
- Browser or Windows-based front ends
- Electronically routes orders to the appropriate exchange or order desk
- Delivers real-time quotes, system and account-specific messages
- Parking order function
- Take a glance at how the RANorder system works:


APEX is a state-of-the-art futures and options trading application combining comprehensive, fast, flexible order entry and management with world-class charting analytics, real-time quotes and news.

- Access to electronic & outcry markets
- Quote board
- Price ladders/dept of market
- Charting and analytic capability
- Real-time quotes & news
- API availability

CTS Futures Trading

CTS is a state-of-the-art electronic network for futures trading that is capable of providing instantaneous, reliable, and worldwide access for futures traders. Traders has access to the electronic markets of the Chicago Board of Trade, EUREX, and Chicago Mercantile Exchange on one screen.

- Live Bids and Offers with Volume and last price traded
- Depth of Market
- One click trading and one click cancels
- Net positions
- Audit log of working, filled, cancelled, and stop orders
- API availability

YORK Futures Trading Platform

YORK is a streamlined and customizable futures trading platform, built to the rigorous standards of active scalpers, inter-market spreaders, arbitrage and position traders. York was developed for, and is continually tested by, professional traders around the world.

- Quick-click trading
- Classic and Linear Market Depth
- Scoreboard to view multiple markets
- API availability
- York Trasaction Score

View the market:

View the market using Classic and Linear Market Depth displays.
Use the ‘Scoreboard‘ window to view more than one market.
See cumulative last trade and the cumulative volume on the linear Market Depth Screen, as well as your last three trades, and session highs and lows.

Trade the market:

Quick-Click Trading gives you the option of entering your orders at the click of a mouse.
Cancel all your open orders quickly, with a single click, by using the Cancel-All feature. Look for the prominent exclamation point window on your desktop. You’ll also find Cancel-All functionality on each transaction-related window.
Configure the platform to enter market, limit, stop, or stop limit orders, assign restrictions and set stop and limit prices.
York Transaction Depth

Monitor your trades:

Follow York’s real-time list of open orders and use the system’s ‘Modify Order’window to alter orders by price or quantity.
Always monitor your current positions using York’s Trades window. Use the Status area to know if your orders have been successfully sent, filled or cancelled.

LavaFX® Forex Trading

World-Class Electronic Foreign Exchange Trading

LavaFX® provides an ECN of live dealable prices, full depth of book, the ability to place bids and offers, anonymous trading, together with Lava’s sophisticated order types. The system aggregates multiple sources of FX liquidity into a single access point, which can be tapped via the fast, intuitive LavaFX user interface, or through a FIX API geared towards algorithmic traders.

- LavaFX Foreign Exchange Trading
- LavaFX® Features and functionality
- Anonymous trading
- Full depth of book display
- Average weighted execution
- Exclusive customizable order types
- Aggregated liquidity sources
- One or two click trading
- GUI and API access
- 25+ currency pairs
- Special and Algorithmic order types


The Currenex® platform includes flexible, automated order functionality with its electronic streaming prices. Automating the order process improves trading efficiency and accuracy by eliminating errors, saving time and streamlining the confirmation process. Currenex users have the ability to leave bids, offers and stop-loss orders in the ESP order book. Screen users can easily view the status of multiple orders in the various stages of execution, as well as modify working orders with simple “slide” functionality that quickly changes levels.

Currenex offers full order functionality as follows – stop limit orders, if done orders and OCO orders. For larger orders there is also hidden and iceberg functionality which allows the trader to place orders without alerting the marketplace. An iceberg order will allow the trader to specify exactly how much of it is visible whereas with a hidden order, whilst the order is still in the market, no part of it will be displayed to any other market participant. Recent ESPT Order Enhancements Advanced Orders include conditional orders and pegged orders. They are unique in that the order is managed by a new advanced order service that will act as an intermediary between the trader and the market. This service will act as a holding place for orders that aren’t yet marketable, such as legs of If Done or If Done OCO orders. The service will also manage the rate changes necessary to keep pegged orders at the appropriate market rate.

Stop Orders

- Stop Triggers
- Stop Limit Orders

 Conditional Orders

- Conditional Order – If Done Orders
- Conditional Order – One Cancels Other (OCO)
- If Done OCO

Pegged Orders

- Pegged Order – Offsets
- Pegged Order – Discretion
- Pegged Order – At-Or-Better
- Pegged Order – Protected Peg
- Pegged Orders

Partial Fill
Minimum Amounts


FXall® is integrated to over 60 of the world’s leading foreign exchange banks, creating the deepest source of liquidity in the market. Through FXall’s high performance network, these banks provide clients with streaming spot and forward prices across more than 300 currency pairs, with minimum latency.

- QuckOMS, advanced portfolio trading tool for managing complicated workflows
- QuickFill, deep liquidity by aggregating continuous streams of executable prices
- QuickTrade, delivering fast, automated prices from liquidity providers
- Reliable, scalable, and highly robust
- Seamless straight-through processing

Hotspot FXi FX Trading

Hotspot FXi, a leading streaming, multibank spot FX platform, brings the powerful benefits of an independent, transparent ECN marketplace structure to institutional foreign exchange trading. These benefits include full depth-of-market view, centralized price discovery, direct, anonymous market access and robust real-time pricing, benchmark, and reference data. Hotspot FXi’s ECN model provides full market transparency and greater control of the trading process, enabling better trade execution.

The FX ECN trading interface displays full depth-of-book with live prices and associated quantities as well as the number of participant banks and clients who comprise the bid and offer quantity at each price level. This live display provides benefits to traders over the prevalent best bid/offer display found on most FX platforms. TradeViewsm enables clients to view the market by their preferred dealing quantities and trade using an algorithm that ensures execution at the displayed weighted average price or better. Access is available via Gui/API or Fix.
Hotspot FXi Software

Anonymous Cash FX Trading

Hotspot FXi innovated anonymous spot FX trading for institutional market participants. Comprehensive anonymity is a core offering of Hotspot FXi.

Anonymity ameliorates market impact concerns when building large positions or for high-profile market participants. Moreover, for all market participants, anonymity ensures neutral prices, eliminating concerns that for clients trading intentions to be read or their trading activity to be tracked.

On Hotspot FXi, a client’s identity is never revealed except to its designated FX prime broker (or prime brokers). The system does not embed client identifiers in trade messages to counterparties, clients are not identified post-trade, and the system does not offer price makers a “last look” before honoring a trade.

Centralized Cash FX Marketplace

The Hotspot FXi marketplace was the first transparent, open FX trading structure to provide institutional clients with a real-time view of the spot FX market, including all bid/offer prices (not limited to best bid/offer only), the quantities available at each price level and the number of participants comprising the quantity at each price level.

As the marketplace evolved, adding additional bank market makers, new price making functionality and significant flows of client-supplied liquidity from the world’s leading hedge funds, CTAs, asset managers, corporate treasuries, black box proprietary traders, and arbitrageurs, make our centralized price discovery even more robust.

Executable Streaming Prices

Hotspot FXi introduced to institutional market participants executable streaming, multibank prices on which clients could trade instantaneously and anonymously. We’ve continued to improve the quality of our price stream enhancing our technology and adding market maker banks.

Beginning in late 2004, the Hotspot FXi marketplace began seeing significant executable price streams from clients. This liquidity source, totaling several billion dollars daily, combined with the platform’s powerful bank streams, makes Hotspot FXi a leading venue for executable streaming prices.

FX Prime Broker Credit Model

Hotspot FXi introduced the FX prime broker credit model to multibank platforms. This structure has been widely emulated, but never fully reproduced. The structure enables clients to trade anonymously in the Hotspot FXi marketplace and to deal on all prices in the marketplace, whether from market maker banks or clients, with the credit of their clearing bank or prime broker. Hotspot FXi never acts as principal to a trade.

Hotspot FXi’s fully interlinked PFI network provides benefits to bank market makers because it prevents intra-platform arbitrage, which takes place on other multibank ECN systems to the detriment of system-wide liquidity.

PiPsm Precision Improved Pricing

Hotspot FXi introduced half-pip pricing to its platform in 2005 and one-tenth pip pricing in 2007. Hotspot FXi PiP enables clients to fine-tune their passive bidding/offering strategies and banks to optimize their market making algorithms.

TradeView FXsm

TradeView FX enables market participants to see FX market depth in their preferred dealing quantities. It displays the weighted average prices for client-specified quantities as opposed to amounts that are available at given prices in the standard Hotspot FXi ECN and on other platforms. Moreover, TradeView deploys a special execution algorithm and related functionality that ensures orders are executed at the displayed price or better, effectively allowing you to manage, and minimize, slippage when sending “at best” orders for large amounts.

Baxter FX Trading

BAXTER Financial Services Ltd. is a global “Best Execution” and Technology group specialized in the Foreign Exchange markets. BAXTER’s leading service is a centrally cleared multibank trading platform for spot-FX. BAXTER believes that innovation, market knowledge, and technical expertise are the keys to enhance customer service. Combining over 15 years of specialized experience in these areas, BAXTER is able to offer the highest standard of institutional FX trading to all market professionals through proven trading functionalities.

BAXTER’s responsive culture and expertise in currency markets enable a simple strategy: develop ultra efficient trading models according to the customer’s environment and needs. By working closely with its customers and partners, BAXTER’s Research and Development is helping to deliver trading solutions for the FX markets.

BAXTER’s Currency-Dealing.NET platform offers a unique venue to end Users. It applies the principles of Exchange trading to the Inter-Bank Spot-FX Markets. BAXTER’s web interface offers a simple, cost effective way to experience access to the Inter-Bank market. It is quick, User friendly and all you need is a browser with the latest shockwave plug in. The combination of Order Types, Validities and Trading Functions allow sophisticated professional trading despite its simplicity.

BaxterFX Market View

Real-time application inside the browser

BAXTER Financial Services Ltd believes anyone that trades on the Internet should be able to access one’s service anytime, anywhere, and most importantly, quickly. However, the only universal medium, the web, is not yet adapted to broadcasting live streams of data. By building a real-time application inside the browser, using secure http communications, Baxter Financial Services Ltd is the only company to have solved the problem.

Design integrated within application in real-time

Another aspect of the constant evolution in financial markets is the ability for a service provider to communicate efficiently with its clients. Again we innovate by offering you the capability to upgrade your user interface interactively without any intervention and with minimal effort on your part.

3D gaming technology applied to online trading

Innovations in 3D technology in the past 5 years have been well overlooked in business applications. When data is represented in a real-world-like environment, navigation is more easily understood, and more data can be shown in the same screen space; in short the data is brought to life. The fun and attractiveness of these graphical representations appeals greatly to the younger generation, thus allowing you to capture and retain new markets.

BaxterFX Trading View

Price Engine

The Price Engine system is a Real Time application, whose main objective is to provide a tool for market makers to transmit client specific, tradable prices to different destinations (i.e. clients, FX portals). The system may use Magnetic Rounding algorithms that can provide comparative advantages for market makers.

The system constitutes of four modules:

- Extraction
- Trackwheel
- Tiering
- Publishing

Extraction The raw prices are grabbed from various sources. These sources include the standard data vendors (Reuters and Bridge) but the process can also interface with internal applications. The prices grabbed from the vendors are sorted and cleaned to ensure that they generate a valid mid price. A set of algorithms has been developed to allow for the generation of the clean price. All the parameters of the algorithm are configurable. Cross rates can be calculated to enrich the source for less traded currency pairs. Alert is generated in the event that no valid price is available.

Trackwheel The core function of TrackWheel is to allow the dealer to monitor and manipulate clean prices before passing them to the clients. In normal operation, the TrackWheel will take the clean price and add the Market Maker’s defined spread (and possible skew). The dealer can stop prices being broadcasted or control prices in manual mode.

Trackwheel Device: It is the hardware specially designed for the effective use of TrackWheel Interface. Three keys and a wheel is placed on the device allowing the dealer to change the spreads and mid-prices in a very efficient and fast way. When the market movements are not traceable any more, a panic button; helps to stop delivering prices.

Trackwheel Interface: This is the Graphical User Interface (GUI) component of TrackWheel, where the dealer can control two-way prices (bid/ask quotes) or stop prices being broadcasted.

Trackwheel Server: For each currency-pair a TrackWheel Server is set up, which handles the transmission and the authorization of Clients. Each currency-pair can be accessed and manipulated by only one Client at the same time for exclusivity reasons.
Tiering The Tiering takes the core prices from the TrackWheel, and adds client specific tiers to these prices before sending them to the relevant broadcasting module. Clients and the corresponding tiers can be defined in the administration tool.

Publishing The publishing module receives prices from the Tiering component and formats them in the correct mode for broadcast (XML, FxML etc.), and transmits the messages to the client. The Price Broadcasting system is developed in Java, uses SwiftMQ for communication, with JMS (Java Messaging System) protocol. It is compatible with most of the operating systems (such as Windows and Unix).

ICAP, the world’s leading provider of trading technology solutions to the professional spot FX and precious metals communities, facilitates access to the EBS platform through its EBS Spot, EBS Spot Ai (Automated FX interface), and EBS Prime services.
EBS Spot is a screen-based anonymous dealing system for professional dealers, operating during global trading hours. EBS Spot:

- Supports trading in foreign exchange and precious metals
- Displays prices pre-screened for credit, so prices shown are available to you
- Displays, for information purposes, the best prices available in the market
- Permits viewing and -trading on the same screen at the same time
- Displays up to six price panels per page
- Includes online display of dealer’s deals and EBS done deals (paid and given)
- Combines the latest electronic trading technology with optional audible price announcements
- Features a fast, easy and intuitive keypad
- Enables deals to be completed with minimal keystrokes
- Provides the security of a proprietary network
- Provides access to Dow Jones news services
- ICAP EBS Prime Software

EBS Spot Ai (Automated FX interface) is an automated trading tool that provides direct electronic access between the customer’s trading system and thousands of FX counterparties on the EBS platform. Delivered through a state-of-the-art API, EBS Spot Ai provides a direct two-way interface with the global FX market on the EBS platform, enabling model/program trading and the maintenance of a 24-hour book.

EBS Prime gives customers access to trade on the optimum liquidity and prices on the award-winning electronic EBS trading platform – prices that might otherwise be unavailable to them – by enabling them to view the market through the pre-screened credit of an EBS Prime bank. EBS Prime customers contract directly with an EBS Prime bank to use their credit and trade on the best FX and metals prices. The commercial arrangement between the EBS Prime customer and the EBS Prime bank is independent of ICAP. Customers pay either as a fee to their EBS Prime bank or as a spread added to the dealt price on the EBS Prime customer’s deal ticket. They also pay a standard transaction fee to ICAP.

Increase revenue opportunities

- Enhance their competitive position in the global trading arena
- See and trade on previously unavailable prices
- Access tighter prices and greater depth of liquidity from the world’s leading market-making banks
- Access exceptional FX market information – global price distribution relies on EBS Spot, the true view of the market
- Increase probability of order execution
- Benefit from Straight Through Processing capabilities
- Access a secure, reliable and orderly market

Manual traders can also access the global FX liquidity pool via EBS Global Access, ICAP’s brand-new, web-based trading application that leverages the public internet as an alternative access point to the EBS platform.

FX on Reuters Forex Trading

RTFX is based on the company’s market leading Reuters Electronic Trading (RET) technology, which is used by more than 100 leading foreign exchange banks. FX on Reuters is designed to streamline workflow from pre-trade, analytics to post-trade settlement, leaving you more time to manage investments and address your clients needs.

Prime Brokerage for Matching on Reuters allows an institution to be able to trade on Reuters Matching in the name of and utilizing the credit of another bank (Prime Broker). The Prime Broker Client can trade spot instruments manually via a Reuters Dealing 3000 keyboard and keypad or programmatically by using the Reuters AutoQuote API (application programming interface) residing on a Matching keystation.

Prime Brokerage for Matching on Reuters provides anonymous direct market access via a Prime Broker, to best prices in a wholesale matching community comprising over 1,100 institutions in over 45 countries trading 54 currency pairs.

- An integrated desktop with a single sign-on – swift access to streaming executable FX prices from multiple liquidity providers
- Reuters Fast Trade – one-click trading on streaming prices
- Competitive View – Compare prices from your preferred price makers on one screen with click and deal or request for quote
- Limit order functionality – so that you can leave orders with your bank
- An RTFX Benchmark Rate – so that you can compare your trading price with the current market price
- Customized blotter – Customize your view by price maker, currency pair and deal type from the day’s current or archived t- rades, to trades executed. Export data in HTML, CSV and Excel formats
- Reporting – See your trading activity with clarity and detail
- Seamless execution and increased efficiency – through the trade cycle
- Auto Trade – Automatically trigger Fast Trades when your price is matched

FX Power Trader™

Integral FX Power Trader delivers a powerful eFX trading solution meeting clients needs. The trading application offers the latest technologies for strategy development and execution, charting, and client customization.

- Real-time display of currency rates
- Fully integrated news feeds, rich graphs and charting, customizable workspaces
- One and two-click trading
- Advanced order types include Market, Limit, Stop and OCO
- Time-in-force option for GTC or Day
- Comprehensive trade blotter and reporting
- Account Management Panels
- Pending orders
- Account summary
- Integrated research and market commentary,
- Create automated strategies, and import MetaTrader 4 Expert Advisors
- Initiate buys or sells directly from charts
- Access trading accounts through desktop or browser software
- Online chat, direct access to broker support
- FX Power Trader

Meta Trader 4

MetaTrader 4 has been created to provide Forex trade operations and technical analysis in real time mode. A wide range of orders allows flexible management of trading activities. As well as many technical indicators and line studies, there is built-in language for trade strategies programming MetaQuotes Language 4. Using this language, you can create Expert Advisors, Custom Indicators and Scripts. Expert Advisors can analyze the situation on the market, make decisions, put pending orders, and open positions in on-line mode without trader’s participation. Custom Indicators, just like technical ones, can analyze the situation on the market and generate various signals. As for Scripts, they are designed for single execution of some actions.

MetaTrader 4 key features

- various execution technologies: Instant Execution, Request Execution, Market Execution;
- confidentiality of all trading operations;
- unlimited charts quantity;
- support of various timeframes (from minutes up to months);
- large number of technical indicators and line studies;
- Experts, Custom Indicators and Scripts;
- MultiLanguage program interface;
- realtime data export via DDE protocol;
- signals of system and trading actions;
- getting on-line news from financial markets;
- internal e-mail system;
- printing charts and completed trading transactions statements;
- MetaTrader API possesses a lot of functions that can be called virtually from any software development environment for Microsoft Windows.
- Meta Trader 4 Forex Trading
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