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ECN brokers list | ECN/STP Forex brokers




ECN Forex Brokers
(No Dealing Desk + STP + DMA + ECN)

*To be able to compare commission rates, we list them all as "Commission per round turn (100K)".
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

trader

January 31, 2009

Excellent information, thank you very much. I've passed information from your site along with a link to your URL to others I trade with.


trader

January 30, 2009

GFS Forex & Futures has STP. Otherwise they wouldn’t state that information on their web page because of the NFA rules. Check the web page. You will see the statement on the home page.

http://www.gfsforex.com/eng/index.htm


trader

January 29, 2009

Under the NDD above, you have listed:
TadawulFX – MT4– min deposit $500, leverage 500:1, spreads variable, forex broker type – STP(NDD) – Swiss/Cypress

From my evaluation they are not a NDD/STP and they do not allow scalping.


trader

January 27, 2009

Who can give information about Dukascopy. they looks very good. Maybe some one have some experience.


BrokerGuru

January 21, 2009

yes, FXCM allows scalping, check out:
http://www.100forexbrokers.com/brokers-for-scalping


BrokerGuru

January 25, 2009

MT4 platform is not capable of showing the depth and liquidity of the market technically.
However, brokers can connect MT4 platform to ECN via API protocols to make it support ECN features.

However, traders should pay close attention and ASK questions before choosing a platform. ECN brokers have their OWN custom platforms (not MT4) initially suited for ECN trading, but since the competitions on the market grows and many traders come asking specifically for MT4, brokers introduce MT4 trading in order to keep clients and be more competitive.

You have to ask whether your MT4 platform is bridged to ECN. Sometimes you may find 2 separate trading offers: one for MT4, another for ECN.


trader

January 23, 2009

ATC Brokers have MT4 and I hear MB Trading have introduced MT4 too.

Are they still ECN forex brokers as you have them in the first list above?

Don't MT4 brokers have a dealing desk?


trader

January 21, 2009

So does FXCM allow scalping?


BrokerGuru

January 19, 2009

Arab Financial Brokers K.S.C.C. indeed claim to have no dealing desk. Reference: http://www.afb.com.kw/Home/COMPANYPROFILE/OURADVANTAGES/tabid/63/Default.aspx AFB advantages

They appear to be STP brokers, not ECN, but I'll need to confirm and then post an update later.

I found that their minimum investment is 2000$ to open an account. But in the FAQ they also say that during promotions (which you have to ask sales guys about) traders can open an account with $1000.


trader

January 19, 2009

Any one know about Arab Financial Brokers K.S.C.C

they say their min amount to open account is 500usd, other places say 1000usd is min,

i know they have islamic accounts,

but i know know if they are STP or ECN some confusion when talking to the support guy,

if they are STP or ECN how can they be offering 500usd start up accounts ?


Muhammad Shahid Memon

January 18, 2009

Muhammad Shahid Memon,

I agreed with such knowledge provided me by 100forexbrokers.com. It solved me lot problems for choosing ECN, STP NDD Broker and with fixed spread.
Before I worked with a broker who's spread were variable that's why I got more loss with variable spread broker.
Now I am Happy to work with ECN,STP NDD broker.

Muhammad Shahid Memon,
[email protected],
00923453423650


ABDULRAHMAN

January 16, 2009

I agree with you because I am now trading with Lite Forex with micro account and really I am suffering from delaying order execution and reqouting and subsequently lose when market starts to move
thanks for your interesting site
REGARDS ABDULRAHMAN


BrokerGuru

January 15, 2009

In fact, today after reviewing it again, we found a disagreement between the Statement on the LiteForex's main page, where they claim to provide an ECN trading and further explanation of the trading conditions on further pages.

LiteForex offers fixed spreads only. This factor automatically eliminates them from the group of ECN brokers. At the very best they can be an STP, since they state to have No Dealing Desk.

Thank you for drawing our attention to it!
LiteForex is no longer listed as an ECN broker.


trader

January 15, 2009

Hello,

LiteForex is listed as an ECN broker.

Quoted from liteforex.org:
"UNBEATABLE FIXED BID/ASK SPREADS

We offer unbeatable fixed spreads starting from 3 points. So, constant spread size doesnt depend on market activity."

"NO DEALING DESK

The technology of auto-hedging helps to almost completely eliminate the need for a dealer in transactions."

So is it an ECN broker really?

Thank you!


BrokerGuru

January 15, 2009

I don't know if they are.
This website is unbiased, it doesn't recommend/promote any broker, I cannot advice you on that, I'm sorry.

Update: GFS has stopped providing Forex services since May 8th, 2009.


trader

January 14, 2009

Are they /GFS/ trustworthy? Would you open an account with them?


BrokerGuru

January 14, 2009

They are STP.

We have listed all known ECN, STP Forex brokers. If a broker is not on the list, it means (in 99% of the cases) they belong to market makers group. The remaining 1% is mostly for new companies.


trader

January 13, 2009

What about GFS Forex and Futures,


BrokerGuru

January 3, 2009

GFT is a market maker.


trader

January 2, 2009

what about GFT? Where do they belong? STP, NDD, market maker... etc The broker was not mentioned in your list


BrokerGuru

December 27, 2008

On top of everything said before, there are two simple rules to follow:
1. ECN brokers don't have fixed spreads, instead their spreads are variable. If a broker quotes fixed spreads - this is not an ECN broker.
2. ECN brokers charge commission for trading Forex. If a broker claims to charge no commission, it is not an ECN.


BrokerGuru

December 24, 2008

Alright, the results and answers are in:
We asked several ECN brokers to explain "How one can verify the claims of a broker being an STP/ECN."

MB Trading replied:
"MB Trading Futures maintains orders anonymously using STP/ECN technology. The technology itself is modeled after the securities industry and facilitates best execution for you and generates price competition, which means traders can "skip the middle man" and save money, rather then using other traditional FCM’s using deal desk models. The firm accomplishes this by routing orders to banks and pools of liquidity to create a true “non-dealing” desk platform. Traders have the ability to route orders via fifteen order types to qualified destinations through our STP (Straight Through Processing) platform.

Since there is no central marketplace for forex, there is no website/regulatory group similar to that of securities for you to verify. The only thing I can suggest is to perhaps try out our demo so you can experience the ECN technology yourself to see the differences between deal desk methodologies and our model."

Taurus Global Markets replied:
"On trader/client side there is no way of knowing whether a company is an ECN or NOT. There are also company's that may be ECN part-time, 50%, 90% or Full-time. We on this matter are full-time ECN, as we (support) are more technicians managing TradeFLO® that connects from MT4 to Banks, etc."


trader

December 19, 2008

There has been some question as to MBTrading being an ecn? Anybody have any knowledge or experience? How can one verify the claims of a broker? Wouldn't they all claim to be stp or ndd since that is what it appears most forex traders are looking for?
tks


BrokerGuru

December 18, 2008

Thank you.
We've checked. It turned out that:

Tradeview Forex has a dealing desk: most of their risk is passed through to the banks, but they may take risks on smaller positions which banks wont accept.

Thinkorswim is an introducing broker for Penson Fincancial - a dealing desk broker which Thinkorswim routes their orders to.


trader

December 17, 2008

Tradeview Forex and Thinkorswim are STP/ECN,
CHECK them out to confirm.


trader

December 17, 2008

This turned out to be a very helpful article. Thank you very much!


Aburenad

December 9, 2008

This is the first time I see a simple and clear information on DD, NDD, STP and ECN. I thought before that there are no differences between STP and ECN brokers. I even chatted with some brokers where they did not know about it (mostly those are DD brokers. Perhaps they claim that they do not know about it).

Thanks for your effort on this article

Best of luck

Aburenad



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