Discussion on ECN forex broker
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thread: Discussion on ECN forex broker

  1. #1

    Discussion on ECN forex broker

    Ok, my first post here and I read the rules so I try not to mention services by title but I'm sure for the experienced you can guess who I'm referring to.

    I'm scalping with an ECN broker which costs $0.5 per 10K lots which is $$$ expensive! I fully understood the gravity of this when in the end of the week I made $400 in trades but I paid $200 at commission, nearly half of my earning! WHAT THE .... Lol

    I'm using that service because it's popular with many very good reviews and so forth and so forth and besides the price of commission I don't have any real complaints. It is a good broker. And I have also attempted MM brokers before but I always lost money with them, my opinion.

    But there has to be competition to it someplace which is cheaper, ideal!?

    According to some other website (pinch of salt here )

    http://www.100forexbrokers.com/stp-ecn-brokers

    The least expensive I found is $0.25 a trip but not certain if that broker is up and running as there is no reply to my emails.

    Anyone willing and brave enough to discuss this topic? Perhaps we can make the other $$ broker sweat a bit

    And another thing , whilst I was doing a search from the website about ECN brokers, just how would you know if it's really an ECN broker, they say that they are but how can a retailer check!? I have seen some who claim to be ECN however their spreads are fixed. How can that be?

  2. #2
    IB costs $2 per $100k, but their lot size is 25k. That is the least expensive rate amongst the 3 retail ECNs (IB, MBT, FXCM/HotSpot).

    how would you know whether it is truly an ECN broker, they say that they are but how can a retailer check!? I've seen however their spreads are fixed. How can that be?
    Well there are just 3 retail ECNs, so that should make deciding which broker is or is not an ECN comparatively simple. No ECN would have fixed spreads, which is making this claim? Remember that if a dealer features STP, that doesn't mean they are an ECN (no dealing desk and STP are really just marketing terms traders use to not seem like traders).

    Best way to determine whether a broker is the ECN is if they reveal depth of market, such as this:

  3. #3
    Junior Member pilar157's Avatar
    19
    IB costs $2 per $100k, but their minimum lot size is 25k. That's the cheapest rate amongst the 3 retail ECNs (IB, MBT, FXCM/HotSpot).


    Well there are just 3 retail ECNs, so that should make deciding which broker is or isn't an ECN comparatively simple. No ECN would ever have fixed spreads, which is making this claim? Remember that if a trader features STP, that doesn't mean they're an ECN (no dealing desk and STP are really just marketing terms traders use not to sound like traders).

    Best way to Find out if a broker is...
    You dare leave out DUKASCOPY!!!!!????!


  4. #4
    The more you trade, the lower your commission will probably get. Trade for a month or two then reveal your broker your quantity.

    Trader, what's the minimum opening account dimensions (deposit) at IB?

    Dukascopy is reduced commission too. If im not mistaken, they require a large initial funding to start.

  5. #5
    You dare exit DUKASCOPY!!!!!????!


  6. #6
    Trader, what's the minimum opening account dimensions (deposit) at IB?
    $10k.

  7. #7
    Thank you for the replies everyone.

    I heard Dukas is quite great but a bit out of my team ;-LRB-

    I really do have an inactive account with IB, but I haven't traded forex there before. 1. I heard their fills stink 2. The leverage is rather low. Perhaps I try and see.

    So ...

    ATC brokers, AMIFX, ADM deritives and Nordmarkets Aren't one or some of these? No Dealing Desk STP ECN

    Strange, I noticed some of these with fixed spreads so I did believe it is somewhat odd that they claim to be and also some of them have changeable spreads too which charge commission. I will see if some have market thickness.

  8. #8
    I have an dormant account with IB, but haven't traded Currency Market there until. 1. I heard their fills stink two. The leverage is quite low. I attempt to see.
    No issue with matches here, however, their leverage is reduced comparatively.

    ATC brokers, AMIFX, ADM deritives and Nordmarkets are not one or any of these? No Dealing Desk STP ECN
    ATC - white labels HotSpot and offers Currenex, both are ECNs
    AMIFI - not an ECN
    ADM - offers Currenex HotSpotFXi, both are ECNs
    Nordmarkets - not familiar with them

  9. #9
    Junior Member juancipk53's Avatar
    17
    No more issue with matches here, however, their leverage is reduced comparatively.


    ATC - white tags HotSpot and offers Currenex, both are ECNs - I wonder how the FXCM take over will influence them. They had been an ib for hsfxr that is gone soon.
    AMIFI - not an ECN
    ADM - offers Currenex HotSpotFXi, both are ECNs
    Nordmarkets - not familiar with them
    = they are connected to Currenex - however they are not the most suitable choice.

    There are a lot of retail aggregators out there who provide Currenex for their larger clients. 6 figures to get to a decent Currenex feed.

  10. #10
    Senior Member rubesnsbelmokte's Avatar
    164
    Im not in the loop well HotspotFXi performs in the present time, but its another alternative for 'not-that-big' accounts. It can be accessed via Advantage Futures for example - commission is18/mm USD traded. They only have a $5000 minimum deposit, but of course the account has to be adequately financed to trade 500K lots on a 40:1 margin (grisly margin is only 20:1).

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