Crownforex is not en ecn broker. Lost loads on their requotes.
trader
April 30, 2009
ActivTrades claim that they have no dealing desk.
BrokerGuru
May 3, 2009
Alright, here is how ActivTrades probably replied to your question of whether they have a dealing desk or not.
They say, quote:
"We don't have any dealing desk. We operate in an OTC environment."
Now, an OTC (Over the Counter) simply means that a trader is trading the market with a dealer, who facilitates buy and sell orders by either electronic network or by phone instead of an physical trading floor.
So, I asked them again, and here is the final reply, which clarifies the point, quote:
"We don't have any dealing desk. An OTC market is a market without clearing house so we act as market maker on the products we offer. However we also offer futures products on the exchange market and in that case you can trade through us electronically on the exchange with a clearing house overseeing trades."
trader
May 7, 2009
Thanks very much BrokerGuru! what a helpfull article and research! I've an account in alpari uk, now I want to move to ECN or STP platform, I am interesting in EFX Group, CoesFX, Hotspot and Oanda, but I've no idea about the backgroud dealers, and wondering which one I should select. I would like to know what the banks they cooperate and their capital if possible, minimal deposit better around 5k~10K. Clients all care about the safety of their funds. Thank you!
trader
May 7, 2009
What about ForexTrader.com, are they STP/ ECN or DD
BrokerGuru
May 7, 2009
ForexTrader.com website does not exist.
BrokerGuru
May 8, 2009
EFX Group is a division of MB Trading.
MB Trading is an ECN broker, operates since 1999, registered with NFA.
MB Trading net capital as of March 31, 2009 was $17,031,724.
Min deposit to open a Forex account: $400.
CoesFX broker no longer exists.
Hotspot FX has recently stopped providing services to retail clients and focused solely on institutional clients.
OANDA is a dealing desk broker, operates since 1996, registered with NFA.
OANDA net capital as of March 31, 2009 was $161,723,117.
Min deposit to open a Forex account: $1.
P.S. Currently investors are watching for MB Trading to meet new NFA requirement of possessing $20 000 000 net capital by May 19th, 2009. OANDA broker has sufficient capital to meet the standards.
trader
May 11, 2009
I couldn't find ECN anywhere on pfgbest.com's website.
BrokerGuru
May 11, 2009
I found my conversation with PFGBEST:
BG: Will MT4 trading be based on a dealing desk?
PFGBEST: MT4 trading is an ECN style model. We have a dealing desk, but we are not a market maker or a dealer. The dealing desk is only in case of emergencies or for those who prefer to trade at a desk rather than utilizing online trading. We do not take pips from people's trades or take the other side of the trade. The feed is directly to the interbank market where it is offset by prime banks like Goldman Sachs and JP Morgan.
BG: Do you have any other options, where a trader can trade Forex without a dealing desk?
PFGBEST: We offer several non-dealing desk, ECN model platforms:
Best Direct 8
FX Platinum Spot and Options
Currenex
MT4
Ninja Trader
Navigator
ProTrader
You can select each one to sign up for a demo.
trader
May 11, 2009
On questtrade and pfgbest I could not find anything stating that their forex was ECN.
trader
May 11, 2009
ok I called PFGBEST, they do NOT do customer to customer matching.
BrokerGuru
April 25, 2009Forex.com is a dealing desk broker.
trader
April 28, 2009Crownforex is not en ecn broker. Lost loads on their requotes.
trader
April 30, 2009ActivTrades claim that they have no dealing desk.
BrokerGuru
May 3, 2009Alright, here is how ActivTrades probably replied to your question of whether they have a dealing desk or not.
They say, quote:
"We don't have any dealing desk. We operate in an OTC environment."
Now, an OTC (Over the Counter) simply means that a trader is trading the market with a dealer, who facilitates buy and sell orders by either electronic network or by phone instead of an physical trading floor.
So, I asked them again, and here is the final reply, which clarifies the point, quote:
"We don't have any dealing desk. An OTC market is a market without clearing house so we act as market maker on the products we offer. However we also offer futures products on the exchange market and in that case you can trade through us electronically on the exchange with a clearing house overseeing trades."
trader
May 7, 2009Thanks very much BrokerGuru! what a helpfull article and research! I've an account in alpari uk, now I want to move to ECN or STP platform, I am interesting in EFX Group, CoesFX, Hotspot and Oanda, but I've no idea about the backgroud dealers, and wondering which one I should select. I would like to know what the banks they cooperate and their capital if possible, minimal deposit better around 5k~10K. Clients all care about the safety of their funds. Thank you!
trader
May 7, 2009What about ForexTrader.com, are they STP/ ECN or DD
BrokerGuru
May 7, 2009ForexTrader.com website does not exist.
BrokerGuru
May 8, 2009EFX Group is a division of MB Trading.
MB Trading is an ECN broker, operates since 1999, registered with NFA.
MB Trading net capital as of March 31, 2009 was $17,031,724.
Min deposit to open a Forex account: $400.
CoesFX broker no longer exists.
Hotspot FX has recently stopped providing services to retail clients and focused solely on institutional clients.
OANDA is a dealing desk broker, operates since 1996, registered with NFA.
OANDA net capital as of March 31, 2009 was $161,723,117.
Min deposit to open a Forex account: $1.
P.S. Currently investors are watching for MB Trading to meet new NFA requirement of possessing $20 000 000 net capital by May 19th, 2009. OANDA broker has sufficient capital to meet the standards.
trader
May 11, 2009I couldn't find ECN anywhere on pfgbest.com's website.
BrokerGuru
May 11, 2009I found my conversation with PFGBEST:
BG: Will MT4 trading be based on a dealing desk?
PFGBEST: MT4 trading is an ECN style model. We have a dealing desk, but we are not a market maker or a dealer. The dealing desk is only in case of emergencies or for those who prefer to trade at a desk rather than utilizing online trading. We do not take pips from people's trades or take the other side of the trade. The feed is directly to the interbank market where it is offset by prime banks like Goldman Sachs and JP Morgan.
BG: Do you have any other options, where a trader can trade Forex without a dealing desk?
PFGBEST: We offer several non-dealing desk, ECN model platforms:
Best Direct 8
FX Platinum Spot and Options
Currenex
MT4
Ninja Trader
Navigator
ProTrader
You can select each one to sign up for a demo.
trader
May 11, 2009On questtrade and pfgbest I could not find anything stating that their forex was ECN.
trader
May 11, 2009ok I called PFGBEST, they do NOT do customer to customer matching.
Write your comment or a review!