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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

subrata

February 15, 2011

Guru,

I am subrata from calcutta.
In my country "GURU" means 'A person who knows everything'. He shows us the way to achieve our goal in different fields. He is a respectable person in our socity. We all respect our Guru.

Since last two years I am in forex trading field. I purchased many software,books,course etc . I practice demo ,try to find out different strategy. When I grew confidence I wanted to open a real account.
Now I faced the actual problem, Whenever I checked the broker review I was disappointed. I could not get any support from anywhere. Everyday I received No. of mail about forex trading but nobody send anything about "broker" or "broker scam".I think the main part of any trading"Broker',which should get the 1st priority. Otherwise all of your strategy,EA etc will not work.

I can not recall how I get this site. when I get it, I complete your 57 page 600+ comment/review . I finally got the way. Now my confidence as well as knowledge enhanced . I I can proceed now.
"GURU" you have a noble social work in forex community,showing them the right way.
"GURU" accept my regards.


trader

February 14, 2011

Hi Broker Guru,
I just posted about the $70,000 account and trading Silver I found this Broker but I think they are new they seem to have good reviews but I wanted to know if you know anything about them.

4Runner Forex
http://www.4runnerforex.com/

I am just really worried about brokers manipulating your trade, also not being able to withdraw your money and them going out of business.

I really would appreciate your advice. Thanks


trader

February 14, 2011

I was considering going with ACM but after reading many bad reviews and finding out the different type of accounts I think I am better suited for an ECN account.

I want to open up a $70,000 account but I want to trade Silver.

I have been reading for weeks on different Brokers and I am ready to pull my hair out. It seems everyone has a different opinion and all Brokers have bad reviews so I am just left frustrated beyond belief.

I am new to the forex trading but not new to Precious Metals this is why I want to trade Silver. I have an ACM demo account right now but after reading this thread and there reviews I just don't think they are honest and right for me. Even thought I have been doing very well on there demo account I have read that a live account is nothing like the demo account.

So my question is what Broker would best fit my needs with a $70,000 and trading Silver. I would prefer a Broker out of the US but it is not mandatory. Also what Broker has a demo account that represent the live account accurately. I don't want to practice on something that is nothing like the really thing it is a waste of time.

I really appreciate any help.....Thanks


trader

February 11, 2011

I have been looking for this kind of information for a long time. Thank you s much it's very helpful.


BrokerGuru

February 10, 2011

UWC is an STP, but might as well have a DD for the $10 micro accounts.

Many STP brokers run a hybrid STP model: DD + NDD
I've recently added more on that in the main article on the first page.

@trader: thank you for the feedback. You'll find delays with every broker. Dukascopy is a quite competitive broker, in fact, a bank. It's difficult to compare it to other brokers for one reason - the security and reputation of the Dukascopy will prevail.


trader

February 10, 2011

Hi Broker Guru,

Thanks for an excellent site to help us find the right broker. I read alot of review and quite like Dukascopy. I have been using their demo for a month and like the Jforex platform. The only problem I found is that the ping delay is 700ms! Is that acceptable and will it affect live trading? Should I look for another broker? I am from Singapore and any advice is greatly appreciated. Thanks.


trader

February 9, 2011

Can you please verify if UWC (United World Capital) runs a dealing desk


trader

February 8, 2011

An excellent well written article. Thank you for the clear explanations on ECN / STP brokers and spreads.


BrokerGuru

February 8, 2011

US brokers have one of the strictest rules in the industry when it comes to account application, that's because the regulation is US is also one of the strictest.
When the other day traders come with complaints against scam brokers, somehow we start to appreciate when the rules work...

I can't recommend brokers, it against the website policy, I'm very sorry.
Can suggest using our Search tool, where select the following parameters:
Broker type: ECN
Country: check the "Show all" box
Regulation: regulated
Leverage: check the "Show all" box

From the list choose a few regulated brokers outside US with the suitable leverage.
Then do further research (trading conditions, deposit/withdrawal, reviews etc) on each company.
Hopefully you'll find the best suitable broker.


trader

February 8, 2011

BrokerGuru! can you please suggest some reall ECN brokers in europe or outside US, (no market maker please)
I don't like the low leverage 50:1 all the US brokers have, and it's a real bitch to sign up with one,
it seems they need to know the color of my underwear before they let me have an acount,
even though I have sent a scan of my passport and bank statement it is still not enough for them,
I give up!


trader

February 4, 2011

@Smuggler - askobid has ecn option as well.......
I dont know how much they use it, but then again from my experiences most brokers that are ECN dont really cover accounts.
4xp on the other hand is being sued right now,..........i'm not sure how its not being covered more greatly.


trader

January 31, 2011

Very good article, thank you.
I have read that Instaforex is an ECN broker.
What is also very good about them, is that they have low deposit requirements, low minimum trade requirements.

What I am not sure about, is that they are safe (very serious concerns about it are given forexpeacearmy.com).
I wish somebody could advise me with this one, should I find another ECN with low trade requirements and (almost) free deposit/withdrawal?


BrokerGuru

January 31, 2011

It could be an STP for standard accounts above $500, while for mini and micro accounts HotForex will most likely be a counterparty to your trades.


trader

January 30, 2011

Is Hot Forex a STP or Market Maker?


BrokerGuru

January 29, 2011

Alpari NZ will have the same trading conditions (execution, accounts, orders, platforms) as Alpari UK and US.
If there are some minor difference, they don't stand out.

About Right Win Group FX: nothing so far... Looks to be a new company from Belize. Their website doesn't look complete, too little information. Seems like the business is just starting.
No mentioning of STP dealing.


trader

January 29, 2011

Here is a new broker claiming to be STP:

http://rightwingroup.com/

Anyone know anything about them?


trader

January 29, 2011

pls, who is Alpari NZ? its not in your list


BrokerGuru

January 29, 2011

Hello everyone,

Thank you for your support and patience!
All questions have been answered. Please scroll back to the page where you left the comment. You'll find my replies next to your question or 1-2 comments below it..


BrokerGuru

January 29, 2011

Go Market is a true STP.
vantage FX is an IB of GO Markets.

Thank you for the news about Admiral markets. The announcement about new Admiral.Pro accounts has been made on 27.01.2011, so it's a new service. It has all attributes of ECN dealing, you'll be using MT4-ECN bridge.
Yes, we can now officially add these accounts from Admiral Markets to the ECN list.


trader

January 27, 2011

Hello. What do you think of Admiral Markets? They claim to have Admiral.Pro accounts working on ECN basis. Could you confirm this or they are just another mm?


trader

January 26, 2011

HELLO

I would like to ask, if GO Markets are true STP broker, as they claim to be?
And is Vantage FX, IB of Go Markets?
They are both from Australia, and offer similar trading conditions?


trader

January 22, 2011

All Forex broker take the opposite side of your order! NDD or DD are the same.....The only way to trade currency in a regulated market is opening an account with a futures broker where you trade real currency contracts and your orders go directly to the "PIT" ,so you can meet real offers of buying or selling contracts....

Forex brokers are similar with those in Europe which allow you trading CFD's (contracts for difference)....

The only problem is the amount of money you have to put in your account.....Forex allow you to play with no more than $400 ( eg: 1 EUR/USD mini contract 1.3600 with 50:1 leverage need $ 272 to open a position, for a regular contract $ 2720 ). But if you have in mind trading regular contracts than to avoid "headache" open an account with a commodity broker....... some let you start with $3000, some with $ 5000......


BrokerGuru

January 18, 2011

Hello everyone,
...too many questions lately. Sorry for the delay. I'll answer them all one-by-one.


Dzrryl

January 17, 2011

I have been trading for a while and never gave any thought stp AND ecn brokers. It explains my level of success and failure. Thank you very much for this great article, it is worth more than all the straw I bought.

Dzrryl


trader

January 15, 2011

Oanda - market maker.


trader

January 15, 2011

Hi! Very good article and easy to understand.
Could you please, tell what kind og broker is Oanda?


ForInvest Group

January 13, 2011

ForInvest Group
http://www.forinvest.net

STP/NDD


BrokerGuru

January 8, 2011

LiteForex is not an NDD.

In MT4 trailing stops work only with positions that are in profit. If your position is still on a negative side, the trailing stop won't be triggered. I don't know if other platforms offer trailing stops which would work with negative pips.
For MT4 try looking for Trailing stop EAs, I think programmers should have solved this problem already.

Ratings won't be available in search results, sorry.

Regarding the tax question, we haven't touched it yet. This tax question is going to be different every time depending on the trader's country of residence, location of the account, current tax policies etc etc. As a rule, the best way to find answers about current tax situation for your individual case is to send a request directly to your Forex broker.

Regarding the authentic status of the reviews, please see my latest reply here:
http://www.100forexbrokers.com/reviews-ratings

Level 2 trading is a synonym of ECN trading.
More reading here: http://www.investopedia.com/university/electronictrading/trading7.asp
http://www.investopedia.com/articles/trading/06/Level2Quotes.asp


trader

January 8, 2011

I am looking for NDD broker with "trailing stop" executed on the server
like plus500 but with higher leverage and better trading platform
and I want to search this "trailing stop" executed on the server
in here http://www.100forexbrokers.com/fx/broker_search.php
meta trader 4 executes "trailing stop" on trading platform
and when I test mt4 "trailing stop" it is working only on positive position
is that right or I test mt4 downloaded from a different broker [GO Markets]

http://www.100forexbrokers.com/fx/broker_search.php
why I can not see any ratings in search result
in this search is not any margin like in
http://www.100forexbrokers.com/high-leverage-brokers
and you can add an option what column add in a first place
that I can see those columns what I search in a first place
and anywhere in your web pages there is nothing about
tax problems like I heard with example ATC Brokers
maybe in http://www.100forexbrokers.com/fx/broker_search.php
you can add tax column

how the Authentic statute are confirm in here
http://www.100forexbrokers.com/reviews-ratings

WHAT IT MEANS level 2 trading A LINK PLEASE


trader

January 4, 2011

is the liteforex ndd


BrokerGuru

January 4, 2011

Hello Ignatius,

I think what happened is when CMSFX sold their business they agreed to transfer all clients to Forex.com by the contract. Only then Forex.com started reviewing the database of clients they've got...
I don't think, however, that CMSFX was right about not letting you transfer to FXCM instead, at least they should have confirmed that you'll be able to trade with Forex.com before convincing you to stay with this broker.

Hello Smuggler,

it's a serious step and a large investment. Dukascopy is the best choice for all the reasons you've mentioned.
I would absolutely not look for any other alternatives in your case. Only this broker. Dukascopy supports MAM.


Smuggler

January 4, 2011

Hallo Broker Guru

You have no idea how your excellent and simple explanations have helped me today.
I "stumbled" on to this site in my search for an reliable, credible forex trading company. I live in South Africa and is very new to this "forex-game". You know the saying that goes: "in the land of the blind, the one eyed is the king"...? Well that is currently me... I only have one eye but I am the "king" in a smallish investment company. This company wants to expand their products to include a "high risk" investment for clients who want it and I (with my big mouth) mentioned forex. I told them about my "awesome" profits on my demo account for the past six months and showed them my trading history printouts. Well.. now I have "the job" to setup and trade the forex market for them . I quickly discovered that to go "Live-trading" in South Africa means getting an offshore account and an offshore Forex-broker.
As my demo account has been with Askobid and 4xp I was considering using them, HOWEVER after reading your site I have discovered MM, NDD,STP and ECN traders.

Askobid is a MM as far as I can see (with my one eye . . .)
4xp though claims to have an ECN possibility. Could you confirm this ?

As my starting capital will be $100 000.00, growing to about $1 Million in the next 10 months, I will definitely not be using a MM - thanks to this Great info on this site.

I will be using an "intra-day" trading model to make money for the investors and pay out the "profits" on a 3 monthly basis.

I believe that STP or ECN is the way to go for this type of "business" I am going to do ? You agree?
What would you recommend ?

After reading ALL 642 comments . . . I think I like Dukascopy as an ECN broker as it seems to be a reputable and secure broker & bank. It is also in the same Time zone as South Africa.

As I am also looking at MAM (multi-account Manager). I looked at Thinkforex as they support this. From what I have read in your comments MT4 does not support ECN trading. right? Thinkforex however trades on the MT4 platform ???

Does Dukascopy also support MAM ?

Thanks for your time... you have really "saved" my a lot of tears and hardships.

Regards
Smuggler


Ignatius

January 3, 2011

I opened a live account with cmsfx with 1000k (500k x2) only to be told 2 months later that they are closing and transfering all retail account to forex.com. I requested them to transfer my account to fxcm if that be the case instead of Forex.com, but they told me that forex.com is good for me. Forex.com then issued an account and password to me but when I complained that I couldn't gain access to the live account with the paasword they issued to me, they told me that they don't deal with cliants from my zone -Nigeria. The next thing was to send me a fund withrawal form for the repartration of my fund - and closure of my account with both cmsfx and forex.com. Is it right for cmsfx to have acted in that manner\\\\\\\\\\\\\\\\\\
Ignatius


BrokerGuru

January 3, 2011

Thank you!
Alpari RU is a russian site. We list only those sites that have English pages/translation for pages. It applies to all countries.


trader

January 3, 2011

Hi Broker Guru, thanks for this site, helps a lot. :)
Q: Why you only list Alpari UK and US, but not Alpari Ru ? I think they have NDD and ECN account too.


BrokerGuru

December 31, 2010

@trader: Thank you for introducing the company! Unfortunately, I can't find any confirmation about STP dealing on Equilor's website. I've send them an email inviting to help us list their company. Hope to have a reply soon.

@trader: yes, you can do next:
- if spreads are fixed - that's not an ECN. Thus it's either a a dealing desk or an STP.
- if there is no commissions for trading, again, can't be ECN.
- if a broker quotes 4 digit pricing, again, can't be ECN.
- if a broker offers Currenex platform - that's always ECN, with variable spreads, commission and 5 digit quotes.
- order execution: you need to download a trading platform and look at the order execution method (regardless the brand of the platform). ECN and STP brokers have Market execution. Dealing desk brokers have Instant execution. (More reading:STP vs DD execution
- MT4 brokers are often either market makers of STP, unless they offer a bridge to an ECN platform, which is in such case is an additional feature/advantage and is hardly ever left without mentioning & additional promotion on the site.
- download an read client agreement form: seek for words "market maker" (immediate conclusion), "counterparty" (depends on the context), "conflict of interests" (also depends on the context).
If nothing helps, then you ask a broker and hope to get an honest reply.

@trader: Monex Futures indeed charges commission for Forex trading: $15/lot/side ($30/lot settle), and it's MT4 platform, which technically unable to support ECN, unless they use a bridge. I asked them, but got no answer. Can't confirm, sorry.

@trader: Windsor is a market maker.

@trader: FBS offers both STP and dealing desk accounts. Micro & Standard accounts below $1000 are Dealing desk accounts, "Unlimited" account with min. deposit $1000 - STP.
YouTradeFX - fixed spreads, no commission. The company is compensated though the difference of bid/ask spreads.
They are most likely a dealing desk, since I haven't found any mentioning of NDD dealing. (P.s. they do have an account type called "ECN", but that appears to be rather just a name).


trader

December 31, 2010

what about you Trade FX and FBS ?are they ECN or STP?


trader

December 31, 2010

I have trading experience with windsor they are not stp ECN or NDD,They are Dealing Desk brokers and they are also not honest.


trader

December 31, 2010

Hi all, Does anyone know Monex Futures (www.mifx.com), are they ECN, STP or NDD, because using market prices for the SPREAD (not fixed spred) and they charge a commission fee ..??


trader

December 31, 2010

Hi, Is there any way to know or track down brokers, whether they are ECN, STP, NDD without asking or reading their notices


trader

December 23, 2010

Hi, one another STP broker offering MT4 is Equilor, a twenty years old company from Hungary. Spreads are not so tight but nice people, good support, reliable company. Check equilor.hu/metatrader.php (hungarian) or equilor.hu/en/about_us.php.


trader

December 20, 2010

UAE ECN:
FXCBS (Fienex Group)
Persepolis Capital Management


trader

December 20, 2010

I want to know the list of ECN brokers in the UAE, please. Thank you.


trader

December 14, 2010

Thank you so much for the very simple and clear explanation of the various types of brokers. It is extremely useful to me now.


BrokerGuru

December 13, 2010

Yes, apparently missed Baxter-FX. It's now listed. Thank you!

Windsor Brokers is a market maker, I've reviewed their conditions, agreement as well as asked representatives in the live chat:
Chat script:
"You are now chatting with 'Sales'
Me: Hello, I'd like to confirm, does your company operate as a market maker? Thank you!
Sales: Yes."


trader

December 13, 2010

Baxter-FX is a great ecn broker but it is not in the list of ecn/stp brokers. I can't believe it!!!!!!!!!


trader

December 7, 2010

Windsor Brokers Ltd claims to be STP, no dealing desk. Put it in the list.


BrokerGuru

December 4, 2010

ECN offers advanced trading conditions and superior execution than STP.
However, with ECN you have to be ready to trade with larger amounts and pay commissions.


Vinoth

December 4, 2010

My Name is Vinoth
Plz Tell me Which One is the Best for trading STP or ECN..


trader

December 2, 2010

Hi all.
Did any one use ThinkForex? Are they really ecn broker? How withdraw is? Do they pay with no problemsy?
Regards



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