I am a trader in forex. I am trading with other 2 brokers, now I want to try a new broker. I have tried your Demo account in MT4 platform. but I got some question from you.
1: Are you a ECN or No Deal Desk broker?
2: Hedging allowed?
3: Scalping allowed?
4: How about margin in live account? (I can choose 200:1 in demo account)
5: How much minimum deposit in live account and How much maximum funds in a live account.
6: How many account is allowed a holder.
ANSWER (FROM ODL):
Dear sir for your dealing we are an ecn
We allow hedging but no news straling or scalping .
We allow 100 to 1 maximum
2000 usd for a live account .
could you tell me several ture ECN broker?
thank you so much.
You could look at Hotspot FXr and MB Trading/EFX Group to start. They claim to be ECN's and I think they are, but you never really know for sure...I used to have an account with EFX, and didn't encounter anything suspicious with them...
Joined Jun 2007
Status: Know that you don't know.
Yeah, ECN and STP have both become buzzwords meant to snag the new or unwary. It just reinforces the fact you gotta do your DD before choosing a broker, that's all. There seems to be plenty of experienced traders on these boards who, we're asked to believe, enjoy great success with bucketshops (oops, another buzzword).
When it comes to human nature, warm & fuzzies are a lot more important than we give them credit for.
Yea its weird... STP is supposed to be an industry ideal i.e. cutting out the unnessicary (dealing desk) so i can see why a broker would use the phrase.
On the otherhand the true ECN would mean that you are trading inside some kind of market that is made by a broker (either through bank relationships or other traders) it just agrivates me that people seem to think that this is the new pie in the sky!
If you ask me trade where you can make money! thats what its all about right? if you are making money with an MT4 broker why would you move out of your comfort zone because ECN's are supposedly better/safer? HA! just get away from people that are dodgey