ECN brokers list | ECN/STP Forex brokers




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

February 3, 2012

HotForex - ECN & DMA/STP.


trader

February 5, 2012

Beautiful website and beautiful mind of Mr Broker Guru, who started all this.

Please allow me one more.
Would like to insert my name by the way but i come up listed always as a "trader". Thanks

The listed STP MT4 Broker section, perhaps should have one more option ?
NOt trying to change anything here, but still got few doubts in my mind.
Among those who are STP using Mt4, we should really come to knwo who is completely STP and who does not act as STP for example Using tricks when playing with Micro Lots .

As i 've read that a STP could become a marker maker in certain conditions
But a DMA/STP should certainly behave like real DMA where all prices are sent to the liquidity providers. hmhm I think they behave like DMA with mini and normal lots 0.1 / 1.0, but , not with micro lots.
Some ECN /STP are certainly genuine when few main condition are met, but try to enquiry about Micro lot, and then the best question to ask will be : How many liquidity providers you have?
and also.. do you Have Different Micro price feed for Micro accounts ?

Take for example Fx Pro, they go to one extreme to another.
Even in the chat they will clearly tell you they they are ECN but dont have STP/DMA
so whether you take their ECN account or you are in the hands or the M.M./D.D.

But anyway Broker Guru has already kindly adviced us to check and do our homework, before opening an account.

Somehow now am not interested so much in asking them question about the Spread, the regulation, lot size traded, ...or candle closing time on a daily chart. GMt / Est ...

I have adjusted my main questions to :
(1) Not asking if they are regulated, but rather cheking myself how long they have been in business, and if they trade gold, silver and other metals, so it means they got a wide range of customers and its in their interest to be in business. "Reputation".
(2) Our money is safe and kept in segregated account ? almost all follow this procedure, regulated or not.
(3) How many liquidity providers do you have? and do you Have Different Micro price feed for Micro accounts ?
(4) Downloading straight away the platform to see myself what they got, and asking them, for example why the open price must differ 3/4 pips from the current price ? if any , but some brokers have only 1 or 2 pips, so should be fine.
(5) Of course after reading all reviews and having selected those who come from newbies like myself, will check what was the good ones about and what were the bad ones about.
(6) If i decide to go fo it, i will start always with Micro lots, at least i can see the "LIVE" platform how it works. Demo dont tell the all story.
(7) If the Min Depo is $5 or $25 .. that only means you need deposit at least $250, or in some cases start with $150 deposit. lots 0.01
(8) Slippage and Re-quotes, will always be there, so i dont ask about it, cos they wont tell you.Need to check for myself
(9) Will check about Margin call %% only for personal info
(10) Will not care about the leverage, cos if its 1:100 / 1:300 or even / 1:500 i will not risk more than i have decided to lose. I f i decide to risk 30 pips for that day at 30 dollars, then will calculate accordingly.
(11) Wil certainly ask about the withdrawals procedure, how much to pay for a bank wire transfer to my bank, and whats the minimum i can withdraw. I will not ask how many days, cos that is to check for myself. But will read some eviews about it.
(12) Last but not least, will not take any broker who has Platform freezing issues, or makes you appear those funny messages "sorry wait" when you are trying to close a big position.
(13) I will make sure i can close the position by tel, if i cannot close my order, whitin 20 sec.
(14) Will not ask if the Spread widens during the news, cos they all widen anyway, need check myself. Will rather ask however, if the snapshot sample spread advertised on their website, was taken during asian session? usa uk session ? and do you see that low spread often during the day?
(15) For ECN and their low spreads, or added mark up to the spread i will only check if the commission per round turn/Lot is less than $9 or $8/$7.

I think looking for a good broker, we need to experience for ourselves. Some questions need to be asked.

But most important for me , i will trade with my main Platform and 3 others different ones, to check for any fake spikes,or prices differing lot from the main platform live account. and be ready to go on the chat if this happens, to show records and get my money back if that happens.

have i missed something here ?


BrokerGuru

February 5, 2012

Thank you for the great feedback and broker questions summary! Well done!
I've also copied your post here: http://www.100forexbrokers.com/10tough-questions

(Regarding names, we let traders simply sign their posts below if they want to. Otherwise it comes as "trader").


trader

February 6, 2012

which broker give a mcx indian commodity


trader

February 7, 2012

How about Armada Markets?


BrokerGuru

February 7, 2012

Sorry, I don't know about brokers who offer mcx indian commodity.

Armada Markets (LMAX broker) - even though they've been operating since 2007 (according to their site information), I haven't heard of this company before, and they somehow have 0 reviews on the net despite being 4 full years in business. Sorry, don't have ay information to share, but going to create a Reviews page for them.


trader

February 7, 2012

Thanks a million, no wonder I lost my money despite all effort to Fxcast
I think you have saved me.


trader

February 10, 2012

Is there a list of non Forex ECN's?


trader

February 15, 2012

what about Iamfx is it a ECN/STP or MM?


BrokerGuru

February 15, 2012

"non Forex ECNs?"
- Do you mean ECN brokers that offer other trading products? On this site we list only Forex brokers.

IamFX is not MM or ECN. IamFX is a no-dealing desk broker - DMA/STP broker.


trader

February 17, 2012

Can you help me? I am from Nigeria, I just read this article and wish to trade with a pure ECN broker, which would you recommend for me?


RahmanSL

March 2, 2012

Hi BG,

I thought Dukascopy Bank SA All accounts minimum deposit is USD1,000?? It's listed on your site as USD100.

Best regards

RahmanSL



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