HOME   SEARCH BROKERS   COMPARE BROKERS   REVIEW BROKERS   ADD A BROKER YOUR FEEDBACK LIVE FOREX CHARTS  
ADVANCED BROKER SEARCH & COMPARISON
BROKER CYBERSEARCH

391 Forex broker updated daily — Search, customize, sort, compare in few clicks! Welcome to experience the Broker Search on a whole new level!

STP Forex brokers




STP Forex brokers

(No Dealing Desk + STP)

STP Forex brokers is the most diverse group when it comes to trading conditions.
Ranging from STP brokers who act almost like a Market maker, to STPs who offer advanced DMA trading.

While all STP brokers offer No Dealing desk (NDD) trading and Straight Thought Processing (STP), which eliminates conflict of interests, there are 3 factors that stand them apart:

  • Order execution type
  • Number of liquidity providers
  • spreads

The list of STP brokers and trading conditions:

STP brokercompare Forex brokers Order execution:compare Forex brokers Spreads:compare Forex brokers STP available on accounts:compare Forex brokers Number of Liquidity providers:compare Forex brokers
Forex Time (FXTM) Instant & Market execution variable All accounts
1BillionForex Instant & Market execution fixed & variable All accounts over 30
24FX Instant & Market execution fixed All accounts 2
AAAFx Market execution variable All accounts 3
AAFX Trading Market execution fixed & variable All accounts 10
Abshire-Smith Instant & Market execution fixed & variable All accounts 12
AccentForex Instant & Market execution fixed & variable STP accounts - Market execution 5+
ACM Gold Instant execution fixed All accounts 1
Admiral Markets Market execution variable All accounts over 12
ADS Securities London Market execution variable All accounts over 30
ActivTrades Market execution variable Interbank accounts 2 (Citi, Deutsche Bank)
Advanced Markets Market execution variable All accounts 11 (Macquarie Bank, Bank of America, Barclays Capital, Citi, Commerzbank, BNP Paribas, Deutsche Bank, J.P. Morgan, Morgan Stanley, Nomura, UBS)
AFX Capital Market execution variable AFX Classic accounts 5
AGM Markets Market execution variable All accounts 2
Alfa Financial Instant & Market execution fixed All accounts 5
Alpha Capital Markets Instant execution fixed & variable All accounts over 14
AmigaFX Instant execution fixed All accounts 2
AssetsFX Instant & Market execution variable All accounts 1 (LMAX)
ATC Brokers Instant & Market execution variable All accounts 1 (FXCM)
Atom8 Instant & Market execution variable All accounts 1
Axiory Market execution variable All accounts 8 banks
AxiTrader Market execution variable All accounts 14
BCapitalsFX Market execution variable All accounts 25
BelforFx Instant & Market execution variable All accounts 2
Blackwell Global Instant & Market execution fixed & variable All accounts 12 (BOA, Barclays, Citi, Credit Suisse, HSBC, JP Morgan, Standard Chartered, BNP Paribus, Deutsche Bank, RBS, USB, and Morgan Stanley)
BlackBull Markets Market execution variable All accounts 22+ Top Tier 1 banks
BTFX Market execution variable All accounts 1
Bulbrokers Instant & Market execution fixed & variable All accounts 10
Caesar Trade Instant & Market execution variable All accounts ?
CAPPROFX Instant & Market execution variable All accounts 5
CFD1000 Instant & Market execution fixed & variable All accounts 10
CFH Clearing Instant & Market execution variable All accounts all top tier 1 banks
CFI Markets Instant & Market execution fixed & variable All accounts
CM Trading Market execution variable All accounts 70
Core Liquidity Markets Market execution variable All accounts over 15
ContinentalFX Instant & Market execution fixed & variable All accounts over 10
Darwinex Market execution variable All accounts 1 (LMAX)
Direct FX Market execution variable All accounts 17 (tier 1 banks)
Divisa Capital Market execution variable All accounts 12
EightCap Market execution variable All accounts 10
eToro Instant execution fixed All accounts 1 (RetailFX)
Euro Pacific Bank Market execution variable All accounts 5
FBS Instant & Market execution fixed & variable All accounts 10+
IV Brokers Instant & Market execution fixed & variable All accounts 15+
FeelTrade Instant execution fixed & variable All accounts over 30
Fidelis Market execution variable All accounts 10+
Finpro Trading Market execution variable All accounts 16
FIPFX GLOBAL Instant & Market execution variable All accounts 10
FirewoodFX Instant execution fixed All accounts 2
Forex Broker Inc Instant & Market execution fixed & variable All accounts 3
Forex Club Instant execution fixed & variable ActTrader platform 7-10
Forex FS Instant & Market execution variable All accounts 4 (banks)
Forex4you Instant & Market execution fixed & variable All accounts 2 (primary; + few reserve)
Forex.ee Market execution variable All accounts 6+
RallyTrade Instant & Market execution fixed & variable All accounts 1
Fortress Capital Instant execution fixed & variable All accounts over 30
FreshForex Instant & Market execution fixed & variable All accounts 4
FW Markets Market execution variable All accounts 3
FXCH Instant execution fixed All accounts 8
Fort Financial Services Instant & Market execution fixed & variable All accounts 8 (Deutsche Bank, Barclays, Goldman Sachs, Morgan Stanley, Nomura, UBS, Merrill Lynch, Credit Suisee)
FX-EDGE Market execution variable All accounts 5-7
FXCM - Forex Capital Markets Market execution variable All accounts 10+
FXFair Market execution variable All accounts 25
FxGlory Instant & Market execution fixed All accounts 5
FXGM Instant execution fixed All accounts broker refused to provide information
FxNet Market execution variable All accounts 2
FXOpen UK Market execution variable All accounts over 15
FXOptimax Instant & Market execution fixed & variable All accounts >5
FxPlayer Market execution variable All accounts 20
FXPRIMUS Instant execution fixed & variable All accounts 5-10
GDA Fincorp Instant & Market execution variable All accounts 4
GAINSY Market execution variable STP accounts 20
Gallant Capital Markets Market execution variable Micro & Standard accounts 15
GCI Financial Instant execution fixed All accounts 10
GDMFX Instant & Market execution fixed & variable All accounts 15
GKFXPRIME Instant & Market execution fixed & variable All accounts 5
Global Prime Forex Market execution variable All accounts over 15
Golden Tangent Market execution variable All accounts 3
Grand Capital Instant & Market execution variable All accounts 3
Grinta Invest Market execution variable All accounts 14+
HeartForex Market execution variable All accounts 4
Hirose Financial UK Instant & Market execution fixed All accounts 10
HiWayFX Market execution variable All accounts 2
HotForex Market execution variable All accounts 6
IamFX Market execution variable All accounts 2 (IB for GCMFX)
IC Markets Market execution variable STP accounts 2
IFC Markets Instant execution fixed All accounts 5
IKON Group Instant & Market execution fixed & variable All accounts over 30
IMMFX Market execution variable All accounts 12
Indigo DMA Market execution variable All accounts 10
INTFX Market execution variable All accounts 5
InstaForex Instant execution fixed All accounts broker refused to provide information
Invast Market execution variable All accounts over 30
Investorseurope Market execution variable All accounts 15 banks
IronFX Instant execution variable All accounts 2
IsikFX Instant execution fixed All accounts 10
Juno Markets Market execution variable All accounts 10-12
JustForex Instant & Market execution fixed & variable all accounts 1 (Sucden Financial, through 18 banks)
KAWASE Market execution variable All accounts over 15
Key To Markets Market execution variable All accounts 20
KGI Ong Capital Market execution variable All accounts 10
KRCNZ Market execution variable All accounts 3
LAND-FX Instant & Market execution variable All accounts 5+
Lider Forex Instant execution variable All accounts 1 (FXCM broker)
LiteForex Instant & Market execution fixed & variable All accounts 21
LMAX Market execution variable All accounts 4 (LCH.Clearnet (central LP), Goldman Sachs, JPMorgan, Optiver)
LMFX Instant & Market execution fixed & variable All accounts 2
LCG (London Capital Group) Market execution variable All accounts over 10
Lucror FX Instant execution variable All accounts broker refused to provide information
MaxFX Instant execution variable All accounts 1
MEX EXCHANGE Instant & Market execution variable All accounts 3+
MTI Markets Instant & Market execution variable All accounts 16
MTrading Instant & Market execution fixed & variable All accounts 5+
NAS Broker Instant & Market execution fixed & variable All accounts 2
NoaFX Instant & Market execution fixed & variable All accounts 16
Nord FX Instant & Market execution fixed & variable Standard accounts 18+ (via Currenex and Integral to: Bank of America, Barclays, BNP Paribas, Citibank, Commerz Bank, Credit Suisse, Deutsche bank, Goldman Sachs, HSBC, J.P.Morgan, Morgan Stanley, MUFG, Natixis, Nomura, RBS, SEB, SMBC, UBS))
NSFX Instant & Market execution fixed & variable All accounts 2
OctaFX Market execution variable All accounts 10
One Financial Markets Instant & Market execution fixed & variable All accounts 8
OloFx Market execution variable All accounts 10
PaxForex Instant execution variable All accounts 5
Pepperstone Market execution variable All accounts 22 (banks and ECNs)
Pacific Financial Derivatives (PFD-NZ) Instant & Market execution fixed & variable All accounts 12
PhillipCapital Market execution variable All accounts 18
PhillipCapital UK Market execution variable All accounts 5+
Profiforex Instant & Market execution fixed & variable All accounts 3
Real-Forex Market execution variable All accounts 10 (Bank of America, Citibank, Deutsche Bank, Goldman Sachs, J.P.Morgan, Morgan Stanley, UBS)
Renesource Capital Market execution variable FX Calssic accounts 26 (ADM, Deutsche Bank, MAREX, GFT, JSC IBC Finasta, JSC Citadele Banka, JSC Latvijas Krajbanka, KIT Finance, MF Glbal, ODL Securities, Penson Financial, Pinnacle Capital Markets, Saxo Bank, Swedbank, Commerzbank and other )
Royal Forex Trading Instant & Market execution fixed & variable All accounts 15
RoboForex Instant & Market execution fixed & variable Pro accounts 16 (through Integral: Citibank, Deutsche Bank, Bank of America, UBS, HSBC, NOMURA, RBS, BNP Paribas, Credit Suisse, COMMERZBANK, SEB, SMBC, Morgan Stanley, Goldman Sachs, JPMorganChase, NATIXIS
Rubix FX Market execution variable All accounts 15
SaudiQuote Instant & Market execution variable All accounts 9
Sterling Gent Trading Market execution variable All accounts 30+
Solforex Market execution variable All accounts 10
Sun Hung Kai Forex Market execution variable All accounts broker refused to provide information
StoxMarket Instant execution fixed & variable All accounts 2 to 10
Sucden Financial Instant & Market execution variable All accounts 15 banks
Sunbird Market execution variable All accounts 5
SVSFX Market execution variable All accounts ?
TFX Markets Market execution variable All accounts 15
TeleTrade Market execution fixed All accounts 10
ThinkMarkets Market execution variable All accounts 70 (banks via Currenex)
Tifia Market execution variable All accounts 3
Titan FX Market execution variable All accounts over 20
TopFX Market execution variable All accounts 11
Trade12 Instant execution variable All accounts 6
TradeFxP Market execution variable All accounts 4
Tradenext Market execution variable All accounts 2
TraderNovo Instant & Market execution fixed & variable All accounts 10
Trader's Way Instant execution variable STP accounts 18
Traders Trust Market execution variable STP accounts 4 (Barclays, Deutsche Bank and Citybank)
TradersChoiceFX Instant & Market execution fixed & variable STP accounts 1 (one of: GAIN Capital, FXDD and FXCM brokers)
Tradestation Securities Market execution variable All accounts 23 (numerous market centers such as NYSE, Nasdaq, ATD, CME, CBOT)
Tradeview Market execution variable All accounts 10
TradeWiseFX Instant & Market execution variable All accounts 10
Trading 212 Instant & Market execution fixed & variable All accounts 5
TradingBanks Instant execution fixed & variable All accounts
Tradize Instant execution fixed & variable All accounts 3
TrioMarkets Market execution variable All accounts 20
Trust Capital Instant execution fixed All accounts 3
UFX Instant execution fixed All accounts 1 (broker)
Uniglobe Markets Market execution variable All accounts 5
UpFX Instant & Market execution variable All accounts 10 banks and 4 private hedge fund/brokers
USGFX Instant & Market execution variable All accounts 2
Valbury Capital Market execution variable All accounts a basket of banks
Valutrades Instant execution fixed & variable All accounts 11 (banks)
Vantage FX Instant & Market execution variable All accounts 70
Velocity Trade Market execution variable All accounts 8
Vinson Financials Instant & Market execution fixed & variable All accounts over 5
Wenn Markets Instant & Market execution variable All accounts 2
WH SelfInvest Market execution variable All accounts 15 (banks: J.P.Morgan, Citibank, Deutsche Bank, Barclays ...)
Windsor Brokers Instant & Market execution variable Dynamic STP accounts broker refused to provide information
xCFD Market execution variable All accounts 5
XGLOBAL Markets Market execution variable All accounts over 30
XTB UK Instant & Market execution fixed & variable All accounts 1
Yadix Market execution variable All accounts 15
YouTradeFX Instant execution fixed All accounts 60
ZAR FX Instant & Market execution variable All accounts 5+




No Dealing Desk means STP

Any Forex broker that doesn't run a dealing desk nowadays is called an "STP broker".

But STP brokers can be different:

Broker A - a no dealing desk IB (introducing broker) who simply passes all client orders to the Prime broker - calls it "STP"
Broker B - a no dealing desk broker, who fills client orders himself using Instant execution, and then immediately (and automatically, without human intervention) offsets 100% of those orders with own liquidity providers - calls it "STP"
Broker C - a no dealing desk broker, who passes all client orders directly to the liquidity providers using Market execution - calls it "STP"

What kind of STP is each one of these brokers?

QUICK BASICS

STP - Straight Though Processing - means that there is no dealing desk involved in quoting & controlling market prices (no market making), but instead all orders are passed through to Liquidity Providers (other brokers and banks), where they are executed at the bid/ask rate given by those Liquidity Providers.

So, an STP broker with no dealing desk will direct all orders to Liquidity Provider(s). What happens next?

A Liquidity Provider (LP) always acts as a Principal and a Conterparty to your trade. An LP takes the other side of your position, while looking to make profits by closing this position later in a trade with another party.
(Same as with ECN brokers, who pass your trades to an ECN pool, where other liquidity providers - banks, hedge funds, brokers, investors - become a counterparty to your trade).

Thus, in the end your order always meets a Liquidity Provider, who is a final Counterparty to your trade.

3 ESSENTIAL COMPONENTS of an STP

There are 3 essential components that will help you to learn more about any STP broker:

1. Depth of the liquidity pool (number of liquidity providers)
2. Type of the spread (fixed or variable)
3. Type of execution (instant or market)

1. Liquidity providers and Depth of the liquidity pool. Why it matters?

Unlike ECN brokers who send orders to ECN liquidity pools with a large number of liquidity providers trading on the Interbank, an STP broker has it's own "internal liquidity pool", which consists of a smaller predetermined number of liquidity providers - only those with whom an STP broker has signed a business contract. Those Liquidity providers will then compete for providing the best bid/ask rates for orders coming from an STP broker.

The more there are liquidity providers in the system - the deeper is the liquidity pool.

It's worth mentioning that if an STP broker has only one Liquidity Provider (LP), there will be no price competition among LPs, and therefore it'll be equal to just adding yet another "middleman" into the trading. These days Forex brokers try to have more than one liquidity provider to be able to offer deeper liquidity, better bid/ask quotes and, as a result, lower spreads.

2. STP spreads: fixed vs variable?

STP brokers nowadays are known to offer both types of spreads: fixed and variable.

An STP broker with variable spreads works in a way similar to ECN model (but inside its own internal liquidity pool): while liquidity providers compete to offer the best bid/ask prices, an STP broker will pick the best Bid price from one liquidity provider and the best Ask price from another liquidity provider and deliver the best current spread to own clients (+ own small mark-up, which allows an STP broker to earn its profit).

An STP broker with fixed spreads won't adjust spreads for the clients based on the lowest bid/ask prices offered by Liquidity providers. The spreads will remain fixed all the time.
If an STP broker has only 1 liquidity provider, this Liquidity Provider will act as a single counterparty to all client trades. In this case traders are at the mercy of the liquidity provider, who decides which prices to quote and when.

If there are several liquidity providers, but the spreads remain fixed, this means that an STP broker uses its own back-office price matching engine, which ensures that a broker is able to make profits on spread difference. To do that, a client is charged a fixed spread, which is higher than the best available rate a broker can get from the LP(s). A broker then earns on the spread difference while immediately hedging this trade with an LP at a better rate.

3. Instant vs Market execution?

As practice shows, when it comes to reading about trading advantages on brokers' sites, the term "Instant execution" can be used differently:

Version 1: "Instant execution" in reference to the speed of order execution: fast, instantaneous order processing.
Version 2: "Instant execution" in reference to the method of order execution: an execution technology used on the trading platform. (Traders can find it in the order window when they open/close positions).

We're interested in the second definition - "Instant execution as the method of platform order execution".

Instant execution means that the order won't go to the market (it'll be instantly filled by your broker).
Market execution means the order will go to the market (where it'll be filled based on available quotes from the liquidity providers).

STP brokers who offer Market execution provide true Direct Market Access (DMA) trading to their clients.

Summary


A summary - conditions comparison - for all STP brokers:
Fixed spreads Spreads quotes come from the broker, or from just 1 liquidity provider Variable spreads Quotes come from several liquidity providers, with spreads generated based on the best bid/ask quotes from liquidity providers
Instant execution Client orders are filled by the broker, who then may (or may not) offset own risks with liquidity providers - therefore it's a less transparent model Market execution Client orders go to the market, where they are filled by liquidity providers - more transparent model
One liquidity provider No price competition, one liquidity provider controls the width of the spreads Several liquidity providers Liquidity providers create price competition, which results in better spreads for the clients.

Copyright ©100Forexbrokers.com | All Rights Reserved



Broker discussion area

trader

February 13, 2016

So, how do I tell STP from Market maker?
With instant execution and fixed spreads would be a market maker.
With instant execution and fixed spreads could be an STP. (Well I'd guess that would mean that my STP sends my orders to a Market maker)... and doesn't lift a finger...

With market execution it is STP, no matter what spreads.
Please correct me if I'm wrong.


Adi

October 14, 2014

hey B. J.

I'm in the same boat..feeling the same way.. this shady business is everywhere: besides the trouble with platform freezing and re-quotes, you get unprofessional support & tons of excuses to allow you claim withdrawals. Well, unfortunately, since there is no central regulator for Forex exchange, anyone can open a site and "become a broker over night". We should be vigilant!
Say, would you bring your money to a newly opened bank? I wouldn't. So why do traders open accounts with novice brokers and then complain about being dumped? They knew the risks. Go to an old broker, make sure it's got registration and regulation (preferrably in the US, UK, Australia, Switzerland and may be a few other countries, where Forex regulation is well established), and in such way minimize your risks at the very least.


trader

October 5, 2014

hi traders
i'm an fxcm customer and traded with mixed fortune for 2 years
my last strategy is giving me great satisfaction but the problem is fxcm spreads are too high and it's hard to keep my gains
i should cut spread cost to 50% in order to be regularly profitable
fxcm active trader account (requires 25,000 usd deposit) allows an average cost cut of 25% on main crosses which for me is not enough
i searched a new regulated broker and made a database of bad reviews (not interested in marvelous fake reviews) from various websites (possibly excluding those of last minute traders who typically complain about huge spreads during key news)
well, i've to say that i'm really discouraged as slippage, requotes, platform freezing, bad customer service, difficulty in fund withdrawals and manipulations of all sort occur in most cases
i'm really wondering if the entire forex business should exist if it's managed in this terms... shouldn't be a surprise though given the number of new brokers opening their doors nearly every day... they are attracted to this shady business like bees on their honey... why not? casinos are not for everybody
please share your thoughts if you're more hopeful than i'm
B. J.


trader

February 5, 2013

hello

i have to share few information about iktrust.com forex broker and 100% scam broker. they are not genuine and cheat nearly 2 million dollars customers amount. Still yet is properly answering to their clients and not ready to provide the information as such.
Kind request to every one dont use iktrust.com its scam broker and cheated all customers


trader

January 8, 2013

How can one get a true ECN broker? Has anyone experienced any?


BrokerGuru

November 2, 2012

STP and ECN brokers place/accept orders almost instantly (within seconds) because online Forex trading is a fully automated process.
The communication between traders -> brokers -> liquidity providers is done in milliseconds. Trading orders are sent, evaluated, matched and confirmed by computers.

Institutional Forex doesn't need leveraged trading, since there is no real need to "help" institutional clients scale up their investments in order to participate in trading:
- with institutional trading there is always enough funds to open a trading position and to meet the required account margin requirements in order to hold that position;
- with retail trading there might be not enough funds to open even a single trade. If there is $1000 required to open a trading position, while a trader has only $200 on his/her account, the leverage is needed to enable a trader to open that position.


trader

October 23, 2012

hello sir i have a doubt..please clear it :)
stp and ecn broker says that they directly transfer the trade to the liquidityprovidor or interbank market.. but as far i know insitutional forex does not provide leverage trades..so ho wcan they accept leverage trades ??

2. and in spot forex all orders are procressed in +2 days.. but in retail forex all orders are placed instantly.. how can be this so ?

please be brief let me know that how stp broker does so ?


trader

September 15, 2012

I have an account at Iceberg Brokers for two weeks. The account opening was pretty straight forward it took 3 days from first contact to have my collateral at my account and I was able to trade. They really do not have dealing desk, no spykes, no stop hunting, no commission. Their platform is Metatrader4. Their support was very helpful and their spreads are very good. I asked them about equities and different platforms they will have equity trading whithin a month and they will offer more platforms like Realtick. I only can recommend this firm to everyone.
You can check their website : www.icebergbrokers.com


trader

August 24, 2012

THERE ALWAYS SEAMS TO BE A GLITCH WITH THE BROKERS,WHERE MONEY IS THERE IS MANIPULATION,IF SOMEONE HAS FOUND A TRUE STP-ECN i'D LIKE TO TRUELY KNOW,BECAUSE I'M SEARCHING FOR A LONG TIME TO USE ONE.


BrokerGuru

August 24, 2012

Hello,

we don't have such references or information, I'm very sorry.


trader

August 24, 2012

how i can find a position as an experienced CFD/FX sales person in UAE? Can u guide me. i a from Pakistan with 10+ years of professional experience.


trader

August 18, 2012

This link should answer it plenty:
https://www.100forexbrokers.com/stp-ecn-brokers


trader

August 18, 2012

what is difference between STP and ESN broker

which one is best and less risky


trader

July 24, 2012

I HAVE NOT FOUND A FOREX BROKER YET THAT ACCTUALY IS TRUE ,THE ONES I'VE TRYED THEY TAKE YOU OUT OF THE MARKET BEFORE IT HITS YOUR STOP.THEY ALL HAVE THEIR FINGERS IN THE PIE. IF ANYONE CAN TELL ME OF A TRUE STP ECN CAN YOU EMAIL ME at
peter.litch@yahoo.com thanks


trader

June 7, 2012

be careful trade on valbury because your opening buy or sell price which already DONE can be edited to higher price ot lower price (almost 200 - 300 point base on 5 digit). I believe it's not a fair game trade on that broker.


trader

May 15, 2012

Just getting away from Oanda (3 long and miserable years!). Checking out the demos of Dukascopy (ECN) and PFG best (DMA/STP, or at least thats what the rep. lady told me). Should I ask to PFG about their LP-s in order to understand their access to liquidity? Any feedback? Mostly of the reviews around the internet are outdated. What about DSCPY? Anything good from them beside the fact of being Swiss?


trader

May 15, 2012

GEAS : I think actiwincapitals doing wonderful job. instant and fast execution , instant deposit and withdrawal. EA friendly good broker in the world


BrokerGuru

April 25, 2012

Thank you!
the broker is added to the ECN list.


trader

April 25, 2012

FQ Securities do also have ECN, but is not listed here. Have used them for a while on demo, and are satisfied with them and their MT4 platform.


BrokerGuru

April 7, 2012

I'd trust the support. There is no reason to lie to customers. Though the conditions they offer are very suitable for Market making: fixed spreads, instant execution, spreads starting from 2 pips (not very competitive, usually offered by MM).

On the quick look there is no mentioning of conflict of interests in their client Agreement. So, we'd assume it's STP, unless proven otherwise.


trader

April 6, 2012

HI,

i would like to know is IKOFX market maker or STP? I've read in the IKOFX support page, they claim they are STP.


BrokerGuru

March 7, 2012

Sorry, can't recommend brokers. Moreover, starting your own brokerage company requires more in-depth research of partners.
For regulatory bodies in Mid East, please follow: https://www.100forexbrokers.com/forex-regulation


trader

March 6, 2012

i want to become a broker is there any company you recommended like BOSTON technology
AND WHAT WOULD BE THE REGULATION FOR MIDEAST ?


trader

February 25, 2012

Instant execution - you're trading with a market maker.
Market execution - you're trading with STP.


trader

February 25, 2012

Tryer

Which is the better,instant execution or market execution?


BrokerGuru

February 13, 2012

Both brokers offer only Market execution of orders, which cannot be "MM", but rather could be one of the following:
STP or DMA/STP or ECN.
AxiTrader is DMA/STP + ECN account option.
Go Markets is DMA/STP.

Please provide your arguments/facts if disagree. I'll be glad to discuss.


trader

February 11, 2012

gomarket and axitrader => STP+MM


trader

February 9, 2012

Interactive Brokers is the only one I know in these lists that provide access to 13 banks and to the interbank liquidity. Charges 2% $2.50 minimum. That is lower than anyone, except perhaps Dukascopy. The others, you trade directly agaist them. And they have no liquidity. FXCM who is the largest "bucket shop" has less than 10% of the liquidity in the forex market.

So most traders trade in a highly expensive (spread or commission) market, trade against their broker, who can manipulate the market in a notoriously unregulated environment, and DO NOT have access to the REAL forex (INTERBANK) market, where the liquidity really is. They trade a parralel retail market design to get them creamed. Like sheep (customers) managed by wolves (forex retail brokers with "no commission").

Commission is so much cheaper and the brokers who charge commissions are transparent, with no conflict of interest. Spreads are extremely expensive compared to commissions, making trading and winning in these conditions virtually impossible.


Thomas

November 1, 2011

Hi guys,

I want to share one very detailed answer about liquidity and bridges from TheCollectiveFx, which I think might be useful for traders like me who likes to ask many questions.

My question to TheCollectiveFx was:
"How does the process works when you have 1 liquidity provider, e.g. do you send all orders to that provider and then
the provider interacts with 25 banking participants? Is it like Integral? I'm trying to compare it to brokers who simply have, say, 6 banks in the liquidity system. While you have 1. Hope you can understand the general point."

The reply from TheCollectiveFx:
"In the MT4 world brokers connect to liquidity through 'Bridges', the bridge acts as a conduit from MT4 to a single bank. As such that data stream is then pumped into a symbol that appears in MT4, in our case the symbol is _fx. In order to have multiple banks then that would require multiple bridges and that would result in multiple symbol sets e.g. _fx1, _fx2, _fx3 etc. There are some bridges that will connect to multiple banks directly and feed a single symbol set but truthfully those are very few and far between because the technology for routing the trades does not work.

If you see a broker tell you that they have 6 or 10 or 25 banks that they trade with then that is more than likely an untruth, what they really mean is they connect to ONE feed that has multiple contributors. This is exactly how Integral, Hotspot, Currenex etc all work. These connect to multiple banks and then feed that as a Best Bid Best Ask quote through the data feed as a quote. Any orders get routed to the bank that made the best quote. However, in order to trade with any of these or their equivalents then a single bank or prime broker needs to buffer the trades. The bank or prime allow multiple simultaneous lines of credit at each of the contributing banks and without them a separate deposit amount would have to be lodged with each bank. The prime bank does not care where a trade ends up, its job is to route trades efficiently and maintain margin and capital requirements.

In short, I doubt there are any true MT4 brokers with multiple direct bank feeds, that is more mis direction than anything else. They may certainly have a single connection to a single prime bank who then connects to many other banks, but there won't ever be a direct connection from broker to each and every bank.

Consider that each brokers feed is a composite feed from a single prime bank connected to multiple providers.

Our data feed is exactly as above, we have a single bank connection who then connects us to multiple other banks. Unfortunately in this MT4 world too many people make too many misleading claims.

At last count I think we had 27 contributing banks to our composite feed, although in reality there are really only about 12 that matter.

I hope the answer isn't too complex or misleading, but in short consider that unless the broker is giving you multiple unique symbol sets to trade then their feed is a composite feed too. If the one feed goes down then all go down, yet if they were truly connected to multiple banks directly then if one failed then all that would happen is that spreads would widen, yet the feed would survive.

With a single liquidity provider such as ours then ALL orders are routed to our bank who have quoted us the Best Bid Best Ask from all of the contributing banks that they deal with. Any order is then routed to the ultimate quoting bank for filling. That may actually be our prime bank as they are a market participant too, but only if they are the Best Bid Best Ask at the time. The order is then filled and routed back to the prime bank who routes it back to us. Your trade consumes margin at our prime bank and in turn their account consumes margin at the ultimate quoting bank. If you were to then close your order that order is also executed at the Best Bid Best Ask price which may not be the same bank that took the first part of your order. You don't care as your order is closed, we don't care because our prime bank has taken care of that for us. Our prime doesn't care because they too are flat by merit of having two positions of equal and opposite size at two of their contributors. The prime bank acts in an aggregating manner and settles their accounts with each of their contributing banks on a daily basis.

Now you can see why my statement earlier that a single bridge that has multiple independent bank feeds is so hard to execute. The margin has to be dealt with so that multiple deposits aren't necessary and then the aggregation has to be dealt with. You may be flat but the broker could have two positions open. Very very tough to execute successfully and thus why it doesn't truly exist in the MT4 world.

If I've confused the matter then I apologise."

Gary.

Thanks Gary, it's the clearest and most detailed answer I've ever received!
Cheers,
Thomas


BrokerGuru

October 10, 2011

As a rule STP brokers don't charge any commission (97% of them don't), thus at the moment, there is no need to create additional filters, but thank you for being an attentive reader!


trader

October 10, 2011

IT would be very helpful if you stated whether or not NDD STP brokers charge a commission or not (so just add a little to the spread for their profit - if no commission)


BrokerGuru

October 4, 2011

When it comes to ECN brokers, they use ECN pools with a large number of liquidity providers, which I'm not sure anyone counted. I don't know how many LPs MB Trading has, sorry. What I want to say eventually is that we don't need to worry about ECNs, but we do have to have more information on STPs and their liquidity.


trader

October 2, 2011

please people stop trying this no name companies

if they are not an ecn broker do not use them, simply saying NDD or ECN style is no good

in addition, many companies give a hard time taking money out, do your homework, id say most people who lose money in forex where never given a fair chance


trader

October 1, 2011

What about MB Trading. How many liquidity providers do they have?


BrokerGuru

September 26, 2011

Not exactly. Vantage FX is DMA/STP.


trader

September 24, 2011

vantage fx claims to be an ECN+STP broker, Is it correct.


BrokerGuru

September 22, 2011

UWC Support:
Yes, we're a Market Makers with NDD execution. (According our GBT point 15 )

The General business Terms confirm that.


trader

September 21, 2011

Hi you are saying UWCFX ( United World Capital) is STP broker. but I have talk with them through live chat and they are saying according to their general business terms, they are a market maker and not a STP broker. could you please clarify this to us?


trader

September 14, 2011

This is only about "Pro-ECN" acc for
and spread is low ,see seriously


trader

September 10, 2011

if they said that we use both then total should be 86
but their spread is also high
are they cheat ,traders


trader

September 10, 2011

roboforex says that they use Integral and Currenex both at a time
plz check it
-
http://www.roboforex.com/about/liquidity-providers/
http://www.roboforex.com/trade-conditions/integral-fxgrid/
-
________________________________________________________
i email Currenex
________________________________________________________
hi
i want to know is www.roboforex.com get liquidity from www.currenex.com or not because i did not see
roboforex on this link http://www.currenex.com/about_us_white_label.html

Plz replay me

Thanks
rajiv mittal
______________________________________________________
______________________________________________________
Currenex replayed
______________________________________________________
http://screencast.com/t/m9Ibud65tS

______________________________________________________
now i ask this to
roboforex
they said
http://screencast.com/t/XoEqlThNdO

what does it means
i am confused


John

August 5, 2011

Hi Dennis,

I'm not sure what is happening to your EA, or why you are getting Error 130 (ERR_INVALID_STOPS) with a pending order. Once you have placed the order and the server accepts it, once the price reaches your order it will usually be triggered. If what you are saying is that the spread gets widened in the time before you place your order, then you may consider placing the orders BEFORE the spread is likely to widen. In other words, (and without knowing how your news feed is triggering signals) you could possibly advance the time of the signal, or get the EA coded to behave differently. If all the EA is doing is receiving a standard news feed and then placing bets around each news item, then it should be pretty simple to change. Feel free to PM me if you need any more assistance, at john.taylor.hk@gmail.com

Best

John


Dennis

July 19, 2011

Hi
I hope I can explain this in an understandable way
I am trying a EA that trades the news releases
it opens 2 pending orders 1 sell 1 buy 3 or 4 seconds before news release then waits for the spike either way
the problem is the broker I am using (Alpari) widens the spread, just before release, so much that I am getting error 130 each time, which means that the price is too far away from entry.
Does anyone know of a broker that offers fixed entry spreads on news
regards
Dennis


BrokerGuru

July 15, 2011

From here: http://www.roboforex.com/about/forex-broker/

RoboForex Hybrid [STP and market maker] Broker Forex Model

For all cent accounts, ROBOFOREX is a dealer, that is, the second party of the transaction. This happens because the terms of the Prime Broker Forex do not permit transactions below a certain level.

For all standard accounts, the STP technology applies through a bridge connecting with the provider of liquidity. All transactions that exceed 0.1 lot (10,000 units) shall be referred to the bridge and then to the provider of liquidity. With each transaction, RoboForex gets a portion of the spread.


trader

July 15, 2011

Is RoboForex STP BROKER


BrokerGuru

May 1, 2011

Hi Akram,

You read the Client Agreement first, where it can be mentioned.

Then you ask a broker directly if they are MM or STP.

Then you look at trading conditions: fixed spreads + Instant execution indicate that there could be a dealing desk behind.
But in the end, it's not possible to know if a broker clears 100% of all orders through STP dealing or whether some orders run though a dealing desk.


Akram

May 1, 2011

how you know that this broker is market maker or stp ... etc?
thanks and best regards
Akram



Write your comment or a review

Image CAPTCHA
Enter the characters shown in the image.
© 2008 — 2017
100FOREXBROKERS.COM
ALL RIGHTS RESERVED
BROKERS
Search
Review
Add a broker
TERMS OF SERVICE
Disclaimer
Privacy policy
COMPANY
About us
Contact
Careers
Investors
PARTNERSHIP
Advertise
Your feedback
Link to us