ECN brokers list | ECN/STP Forex brokers

569 comments

ECN Forex Brokers

(No Dealing Desk + STP + ECN)

ECN broker	ECN trading available for:
ADM Derivatives Inc	All accounts

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569 comments

Broker discussion area


trader July 23, 2009

Broker Guru, in your July 12 reply, you said FXCBS headquarters are in UAE. May I know how you found out? Because I checked and checked their website but couldn't find any information about their address.

And also, 2 weeks ago their website stated they "soon to become" Dubai regulated. Now that statement has been erased. Have they become Dubai regulated? How to know it is safe to open account with them?


BrokerGuru July 23, 2009

Sure,
we're currently collecting data for our Broker CyberSearch project, and so we're contacting every Forex broker. FXCBS representative gave us all this information.
We can't be warrants of deposit safety with any of the brokers, obviously. Every trader should do his/her own research: contact brokers and ask about their regulation as well as client funds protection, read reviews about brokers, and if satisfied, try them out by depositing the minimum amount first.

Simply put, you should know what authority you will contact in case of a fraud or disagreement between you and a broker. If you have nowhere to go or the body you'll be contacting has no jurisdiction over such dispute cases, consider yourself unprotected.


John July 30, 2009

BG,

Excellent site! Thanks.

Any research on SummerStreet FX?

Thanks in advance!

John


BrokerGuru July 31, 2009

SummerStreet FX is a referrer for Revere Capital, and is compensated through the bid/ask spread. Revere Capital (RCMC) acts as counterparty to all trades, so you'll be trading with a market maker.


FS July 31, 2009

Hello BrokerGuru,

I've been speaking to FastBrokersFX to open an ECN account. The offered me an account using CurreneX and I'm doing a demo on it. I found out that they are an IB for FXDD and my CurreneX account would be with them.
What do you think? Have you heard anything about them working together? And what about CurreneX? I am using it for a week and seems very good and professional.

Thanks
FS


BrokerGuru July 31, 2009

Hi FS,

Currenex is an advanced, professional platform.
That's correct, FastbrokersFX is an IB for FXDD, which means you'll be trading on FXDD terms. Both companies are reputable (although FXDD application for NFA membership is still pending... just the right time for you as a good client to ask how soon it is going to happen...). I haven't heard details about the exact cooperation scheme they use, though.


FS August 1, 2009

Hi Guru,
Thanks for your quick reply. I will post again once I have more details or experience with them.
FS


John August 2, 2009

Guru,

You wrote:

"BrokerGuru
July 31, 2009

SummerStreet FX is a referrer for Revere Capital, and is compensated through the bid/ask spread. Revere Capital (RCMC) acts as counter party to all trades, so you'll be trading with a market maker."

My question is will is will I have a true STP as Summerstreet promises or will I be trading against a dealer desk at Revere Capital. Also curious as to why RCMC is not on your site anywhere... what can you tell me about them?

Thanks in advance!

John


BrokerGuru August 2, 2009

Hi John,

To be honest with you, I have no idea where the STP comes from if RCMC is a market maker. I'd recommend they give you their Customer Agreement, where you should not find that your orders are being countertraded by RCMC. If it happen to be so, let me know, I'll be looking to update my lists accordingly.

I know absolutely nothing about RCMC and SummerStreet FX (does RCMC actually have a website?) that's why you won't find these companies on our website. There is still a lot of work to be done to review and list every single Forex broker, and less known will most likely get on board last.


trader August 2, 2009

Hi BrokerGuru,

IGMarkets(UK) has an STP/ECN Platform for Institutional Account, it called L2 Dealer (Currenex API). It looks interesting BTW....

Here the links :

http://www.igmarkets.co.uk/cfd/institutional-forex.html
http://www.igmarkets.co.uk/cfd/l2-dealer.html

Regards,


Daniel August 3, 2009

Hey BG, great site and great info. Your work is appreciated by all.
Can you tell me something about Gallant FX.

Thanks in advance, Daniel


BrokerGuru August 3, 2009

Thank you for IG Markets UK, I'll get them listed.

To Daniel: Gallant FX - a new STP broker (since 2008), which still in the process of building its firm position in the Forex industry. The company is a custodian by Sunspot Capitial. Sunspot Capitial is a registered investment adviser (US SEC #801-69871), but has little information to offer: no website, and its exact address is not on US SEC lists (only this: "Chester, NY").

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