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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

May 19, 2009

Thanks, Mark!

Fastbrokers FX now offers two options:
1. For deposits below $10 000, you'll trade MT4 with a market maker.
2. For deposits above $10 000, you'll trade MT4 with ECN style prices.

I'll update the MT4 page accordingly, thanks a lot for the note!

BrokerGuru

May 19, 2009

Hi Danny,
I have no live trading experience with ACM, so there is little I can suggest.
I'd like to ask other traders to help us out, in the mean time the best thing to do would be to read some reviews on ACM online.


trader

May 20, 2009

Hallo BrokerGuru,
have you information, what's wrong about ACM? They are suspect in fraud. Is FXCM UK and FXCM US same Corporate?
Thank you very much

BrokerGuru

May 20, 2009

Here is a good source to follow the news on ACM and other brokers: Francesc's Weblog at FXStreet

ACM, a swiss broker, has had a police raid in its Geneva office due to being a suspect of financial fraud case: possible price manipulations on 17 April 2007 claimed by a former Mexican institutional client.

Soon after another facts came that it seems that the Mexican client tried to use the falsified information to blackmail ACM. ACM had filed a suit on April 1st, 2009.

Previously ACM had left the US market due to not being able to meet the NFA net capital requirements.
Currently ACM has filed an application to get a Swiss banking license, since the new swiss law requires that any Forex dealer who wishes to do business in Switzerland must now get a banking license.
(There is a line of Swiss brokers applying for the banking license now, among them are: ACM, Fibo Group, Dukascopy, MIG FX are GFX Group.)

Regarding FXCM UK and FXCM US, both belong to FXCM Holdings LLC.

Hope this helps.

philips

May 22, 2009

hello, broker guru, am still waiting for your opinion.
philips

BrokerGuru

May 23, 2009

Hi Phillips,

I remember.
I went through their customer agreement, it is a standard customer agreement for an STP broker, where you have general disclaimers, basically stating that an STP has no dealing desk and therefore no conflict of interests with their clients, but their liquidity providers to whom they send orders may act as counter-party to your trades.
Liquidity providers could be market makers, for example many banks who act as liquidity providers often are market makers themselves.

I've contacted Tadawul FX myself, they explained that they have no interest in posting false information, since they look for a long term business relations with their customers and Banks.

In order to stay afloat in Swiss business, however now TadawulFX needs to apply for a banking license in Switzerland.

trader

May 25, 2009

I think ADM Derivatives Incas the link doesnt work

BrokerGuru

May 26, 2009

admd.com expired on 05/15/2009 and is pending renewal or deletion.
Thank you, I'll keep an eye on this.

Update: the guys at ADMD woke up :). The domen is up again.

trader

May 26, 2009

Does anyone know anything about ecnmarket.com ?
I want to know if they are really genuine.

trader

May 26, 2009

what about C.I.M. banque ?

BrokerGuru

May 26, 2009

Let me kindly refer you to the following page, where I gave my quick review on C.I.M. Banque

ECN Market is simply an introducing broker for MB Trading, so you'll be looking to evaluate trading conditions with MB Trading.


trader

May 27, 2009

I read in other site about ECN Forex Broker Comparisons, they include LiteForex as ECN broker, is that true? eventhough minimum deposit is $1 and no commission, may be they didn't separate between ECN and STP



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