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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

BrokerGuru

December 30, 2009

hi Rahman,

I\ve just wrote an answer, please check and let me know if any questions remain:
http://www.100forexbrokers.com/compare-forex-brokers-spreads/cpage-2

trader

December 30, 2009

Hi BG, do you have update on InstaForex claim that they are ECN?It is real? They just require min deposite of USD1.

BrokerGuru

December 30, 2009

InstaForex is not true ECN, although they want to present themselves as they are ECN.
Their trading platform MT4 has no bridge to any known ECN platforms, which means they cannot provide features required for ECN trading.

Rahman S.

December 30, 2009

Hi BG,

Yes, I have read your reply to my post in another thread. Thank you so much for the time.

I just had to let you know the exhilarating feeling that overwhelmed me today when I went in to buy 10 lots of WTI Oil at USD91+ and then, when I checked back later, seeing all those profits of almost USD1k on each lot. Phew! If that had been rel money, I would havee made a killing today.

But then, if the market had moved the other direction, I would be bankrupt again, which would be for the 3rd time. So far, I have blown away more than USD250k and I think my assigned Broker at EasyForex must be thinking she got a nut case in her book!

Anywhere, practice makes perfect; correct?

Cheers and all the best!

Rahman S.


Rahman S.

January 1, 2010

...sorry, mistake in my posting! : D....oil level should had been USD79+ and not USD91+

Rahman S.

MrJinks

January 2, 2010

Hello Mr. BrokerGuru.

First of all, I'd like to wish you a happy new year and thank you for all your support!

I'd like to ask you what about Varengold Bank FX ? Are they ECN or just STP ? (I looked their website and seems like they are only STP and not ECN).

Could you please clarify that question ?

Respectfully,
MrJinks.

BrokerGuru

January 2, 2010

Hi Rahman & MrJinks

Practice makes it perfect!
Regarding Varengold bank, they are now claiming to be ECN according to this chat: Varengold bank discussion (ECN?)

But, I think their support guys aren't sure, because next day it is an STP again. So, VarengoldFx was and is STP.


MrJinks

January 4, 2010

Hi, BG.

I've found a new broker.

Take a look at this website:

http://www.moneycorp.com/Markets/

Are they Market Makers, STP or ECN ?

MrJinks.

BrokerGuru

January 5, 2010

I'll check and post an update here.

trader

January 5, 2010

Hello BG. I want to ask you something. Here in my contry there are some scam brokers. They exist right? Also they said don`t have any commions even for deposit and withdrawal the money. The spread is fix for EUR/USD 2 pips and 3 pips for the other curencies. The offer the Instant MT4 -not to mention the STP-platform. Said also don`t have DD and are not reqouts. You can find out more? One of these is ForexCeter http://www.forexcenter.ro/en/ . There are some people who complain of lack of professionalism and have no idea what`s happens behind the doors. Are very poorly prepared. Also have a Call Center like a boileroom ( u know the movie with Ben Aflek) From there call customers, take advantage of the naivete of the population who do not know much about this type of business (in Romanian is not so published). U know more about this type of business lies. What can be done against them?
Regards

BrokerGuru

January 5, 2010

Yes, scam brokers exist.
The company you've mentioned, like any forex dealer, can take advantage of novice traders, but not so much when it comes to pros. If there are any scam activities to be found, they will be revealed only when a pro trader comes to trade with the broker and attempts to withdraw large profits, or when there are some unexplained manipulations take place with the account or with open trades.

I'm not sure what's your position regarding this broker, but I think you know that ForexCenter Romania is the white label for G.G.M. Marketing Accord SRL. Therefore, if you have any complaints against them try finding contacts of their main partner.

Moneycorp hasn't replied to me yet, but I found some of their old sentences, which are not available on the website today: "No dealing desk means no re-quotes. Trade without market-maker intervention, ensuring transparent pricing and execution, without having to wait for your order to be filled."
I hope I can have an official answer about their dealing model soon.


trader

January 10, 2010

are we (private individuals) allowed to trade with ICAP and VCAP??



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