is ODL ECN? how about this broker

Thank you

I am assuming you are refering to their currenex platform? If so, please be aware that there are traders on FF that have experienced major slippage around news time...

http://www.forexfactory.com/showthread.php?t=24672

QUESTION:

Dear Sir/Madam:

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.

Thank alot

Regards

Mike


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 .
No maximum

I would ask them why they don't permit scalping if they are a true ECN.

thanks,
could you tell me several ture ECN broker?
thank you so much.
regards

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...

Good question to which they will never give you a proper answer.
You can also add to the list they give above: Winning is not permitted.

Whats with this "true" ecn phrase that keeps poping up?

are you trying to ask if they make their own market?

i am pretty sure that even if a broker has currenex or hotspot they can still make their own market and have a dealing desk etc.

i guess what i'm getting at is what difference does it make? or does an ecn model just give you a warm fuzzy feeling?

ECN seems to have become "le buzzword du jour" for marketing purposes.

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