RUN AN INTERBANK MARKET MAKER'S BOOK.
IT'S 1998. THE RULES ARE DIFFERENT... YOU ARE WORKING AT MEGABANK. AND FOR YOUR SINS:This preview runs a continuous 60-second live desk loop. Quote or decline Sales tickets, pass individual 5-pip prices to interbank callers, and deal across the brokers. Full simulator runs at 1280px and wider.
Built by a dealer who sat the desk.
SpotDealing.com was made by an interbank spot FX dealer who was ranked at the top of the Euromoney FX survey in 1994, 1995, 1996, 1997 and 1998. The desk you see here is not a game designer's guess at what trading looks like. It is the working day, rebuilt.
That means phone-book-thick conversations, brokers who shout prices at you, and a position limit that gets tighter the better your morning goes. You will not find candlesticks or indicators. You will find a counterparty waiting on a quote and a clock running toward the London fix.
Euromoney FX Survey, top ranked: 1994 – 1998
Three people are trying to take your money.
Every quote you give is a small bet on who is on the other end. The job is working out who that is before they do.
Toxic hedge fund flow
A macro fund asks you for a price in size, and they already know where the market is going. If you quote tight, you are the one who ends up long yen into a move. Read the wire, read the ticket, and widen or walk.
Corporate size you have to off-lay
A corporate buyer wants 25M and you are axed to sell into it. Taking the trade is the easy part. Getting out of the risk without telling the street what you are carrying is the real work, and that is what your voice brokers are for.
Your interbank rivals
Other banks call you for a price when liquidity is about to vanish. Never release the same price to all three at once—select each caller, shade your 5-pip price, and click the bank's name to pass it individually.
One trade, start to finish.
A typical afternoon on the USD/JPY desk, with the Bank of Japan rumour already on the wire.
The wire moves
A New York macro fund is reported unloading yen carry blocks in London. Then comes the unconfirmed line: the BOJ is checking rates with Tokyo city banks.
Two tickets open
Alexa wants a price on 40M for a Tokyo corporate. Max B asks for the best offer in 25M. You quote 119.46 / 119.49.
Liquidity thins out
CHJL, CIXL, and CMBL call in for 10 each as liquidity disappears. Select each caller, skew your 5-pip spread, and click the bank name to pass each price individually.
Get out, quietly
Hit the bid at Mavrills or take the E-box fill. The E-box is instant, but it tips the street off. You choose speed or discretion.
Learn to read the screen.
Sales tickets vs. selective interbank quoting.
Salespeople type corporate orders in real time on the left—adjust the staged price and click QUOTE or NO. On the right, select an incoming caller (CHJL, CIXL, CMBL), adjust your skew, and click its bank name badge to pass your price.
Make money and keep your seat.
The simulator scores you the way a head of desk would. Being right is not enough if you blew through the limit to get there. Your intraday position is capped, and there is a hard stop-loss. Hit it and the plug is pulled.
You have until the London fix to get flat, get square, or get lucky.
Questions before you sit down.
What do I need to run it? +
A PC or Mac desktop browser at 1280px width or wider with sound enabled for voice broker squawk and Dealing 2000 call rings. No special hardware or market data subscriptions are required.
Do I need to know FX already? +
Basic familiarity with bid/offer spreads helps, and the simulator includes an onboarding briefing on quoting two-way prices, skewing inventory, and using voice brokers versus the electronic box.
Is this real trading? +
No. It is a simulator of a 1998 USD/JPY desk. There is no live market connection and no real money.
The desk opens soon. Get a seat in the beta.
Join the waitlist for early access to the PC / Mac desktop app. Mobile waitlist is ready too.