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ECN Forex Brokers

(No Dealing Desk + STP + ECN)

*To be able to compare commission rates, we list them all as "Commission per round turn (100K)",

But there are different ways of listing commission rates:

Example: $6.00 per round turn lot (100k) = $3.00 per side (100k) or $3.00 per 100K USD traded = $30.00 per million USD traded or $60.00 per million USD traded round turn = 0.006% of the trade


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Broker discussion area

FX

November 17, 2009

BrokerGuru
November 11, 2009

Could be an ECN, I'm trying to confirm. Will be back with updates.

Thank you BG for your information.
If you get any updates of Persepolis Investment, please!
Best regards,
FX

BrokerGuru

November 17, 2009

No, not yet, they are not replying to my inquiries.
I'm keeping on trying.

Update: Persepolis replied, quote: "We connect our client directly to the liquidity pool of prices. We are a non dealing desk broker and we provide our clients with the platforms having depth of market."

FXDD is a dealing desk, yes, but they also have Prime brokerage, where they state to use no dealing desk.

John

November 17, 2009

Hi,

I am looking for a broker with ECN/STP on an MT4 platform. FXOpen claim to be the first with this capability. Are there any more companies that can offer the same. Is FXOpen a well rated company where I can safely place my funds. I find user reviews seem to be corrupted with so many varying and extreme opinions it is impossible to make a valued assessment from them

Thanks, John

BrokerGuru

November 18, 2009

Hi John,

there are.
Check out the following MT4 ECN brokers:
Alpari
MB Trading
Masterforex
SwissFS (insittutional Direct MT4)


trader

November 18, 2009

what about CMC Markets, do you have any information about them?

BrokerGuru

November 18, 2009

CMC Markets is a market maker.

trader

November 21, 2009

BrokerGuru,

Please check it out - BASEL FINANCIAL is ECN or market maker? They claim to be ECN but the spread is fixed. I didn't find any info about Basel Financial broker in your web site.
http://www.baselfinancial.com/en/Accounts/FAQ.aspx

BrokerGuru

November 22, 2009

Thank you, I'll check it.

BrokerGuru

November 22, 2009

Yes, I haven't heard about them before you referred them.

Basel Financial confirmed that they are ECN.
they have fixed spreads for majors, the rest is variable.
They've chosen to quote those fixed spreads because, as they say: "most of the time we get institutional spreads that are less than 1 pip", so they mark up the spread and deliver a fixed number to a client. For the same reason, I suppose, they don;t need to charge commission.

The approach is different from a standard ECN model, as you can see. I'll keep them on my list, but won't list them among ECNs for now. I'd like to do some more checks.

P.S. Their scalping policy also doesn't fit the ECN model, they would tolerate it only after increasing spreads, lowering leverage or/and adding a commission for those who came to scalp.
http://www.baselfinancial.com/en/Accounts/Trading_rules.aspx

trader

November 22, 2009

Hi BG,

May I Know what's "Market depth data" or level 2 in ECN means?

Thank You!

BrokerGuru

November 23, 2009

Level 2 market data or Market Depth includes all of the buy and sell orders that are currently pending for the market, as well as the number of contracts that are available at each buying and selling price.
This data can only be available with ECN trading (also known as Level 2 trading).
In simple words, as you get access to an ECN platform, you'll find there an additional window with more data about the contracts that are being traded in the market besides your orders than with regular dealing desk (Level 1) platform.


trader

November 23, 2009

ForInvest Group: http://www.forinvests.net/
SWISS Broker, MT4 broker, min deposit $500, leverage 200:1, spreads fixed, TP/SL fixed, forex broker type NDD/STP



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