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THE ECN room.

  • #21
  • Edited 2:55pm Nov 7, 2007 7:29am | Edited 2:55pm
with which ones is it easy to sign up for demos? (i.e. instant access to their demo, not waiting for a rep to get back to you)

I just wanna check out the spreads cause I'm curious.

I got dukascopy demo but I was wondering about the currenex brokers or any other ecns.
  • #22
  • Nov 7, 2007 2:51pm Nov 7, 2007 2:51pm
Quoting Moe
CURRENEX BROKERS AND IB.

http://www.zaner.com IB FOR MF GLOBAL
MINIMUM TO OPEN ACCOUNT 100K
MINIMUM TRADE SIZE 1M, 250M PER MONTH
LEVERAGE 100:1
COMMISSION $50 PER MILLION

http://www.vcapfx.com
MINIMUM TO OPEN ACCOUNT 250K
MINIMUM TRADE SIZE 1M.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION

http://www.aarontrade.com IB FOR ADMD
MINIMUM TO OPEN ACCOUNT 75K
MINIMUM TRADE SIZE 500K.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION


http://atcbrokers.com IB FOR BGCFX.
MINIMUM TO OPEN ACCOUNT 10K
MINIMUM TRADE SIZE 50K.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION

http://admd.com
MINIMUM TO OPEN ACCOUNT 75K
MINIMUM TRADE SIZE 500K.
LEVERAGE 50:1 UPTO 250K THEN 30:1
COMMISSION $35-$50 PER MILLION

https://www.pfgforex.com
MINIMUM TO OPEN ACCOUNT 100K
MINIMUM TRADE SIZE 100K.
LEVERAGE 30:1
COMMISSION $35-$50 PER MILLION

http://www.odlsecurities.com
MINIMUM TO OPEN ACCOUNT $35K
MINIMUM TRADE SIZE N/A.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION
yes
If I Go Broke Trying Then I Will die happy.
  • #23
  • Nov 7, 2007 3:30pm Nov 7, 2007 3:30pm
http://www.efxgroup.com
MINIMUM TO OPEN ACCOUNT $400
MINIMUM TRADE SIZE 1K (0.1 LOT)
LEVERAGE 100:1
COMMISSION $5 PER 100K
For hiring me to program EA's, please PM me.
  • #24
  • Nov 8, 2007 1:00am Nov 8, 2007 1:00am
Quoting fxtrader625
http://www.efxgroup.com
MINIMUM TO OPEN ACCOUNT $400
MINIMUM TRADE SIZE 1K (0.1 LOT)
LEVERAGE 100:1
COMMISSION $5 PER 100K
This is not a currenex broker.....
  • #25
  • Nov 8, 2007 3:48am Nov 8, 2007 3:48am
Quoting gioviforex
This is not a currenex broker.....
... but belongs to this thread!
For hiring me to program EA's, please PM me.
  • #26
  • Nov 8, 2007 3:50am Nov 8, 2007 3:50am
Quoting gioviforex
This is not a currenex broker.....
there's always somebody trying to push exfgroup / mb trading on us, these broker's or for the little retail ecn / traders, imo they or good for upto $50k account size, after that time to move on.
If I Go Broke Trying Then I Will die happy.
  • #27
  • Nov 17, 2007 6:27am Nov 17, 2007 6:27am
Quoting Moe
CURRENEX BROKERS AND IB.

http://www.zaner.com IB FOR MF GLOBAL
MINIMUM TO OPEN ACCOUNT 100K
MINIMUM TRADE SIZE 1M, 250M PER MONTH
LEVERAGE 100:1
COMMISSION $50 PER MILLION

http://www.vcapfx.com
MINIMUM TO OPEN ACCOUNT 250K
MINIMUM TRADE SIZE 1M.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION

http://www.aarontrade.com IB FOR ADMD
MINIMUM TO OPEN ACCOUNT 75K
MINIMUM TRADE SIZE 500K.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION


http://atcbrokers.com IB FOR BGCFX.
MINIMUM TO OPEN ACCOUNT 10K
MINIMUM TRADE SIZE 50K.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION

http://admd.com
MINIMUM TO OPEN ACCOUNT 75K
MINIMUM TRADE SIZE 500K.
LEVERAGE 50:1 UPTO 250K THEN 30:1
COMMISSION $35-$50 PER MILLION

https://www.pfgforex.com
MINIMUM TO OPEN ACCOUNT 100K
MINIMUM TRADE SIZE 100K.
LEVERAGE 30:1
COMMISSION $35-$50 PER MILLION

http://www.odlsecurities.com
MINIMUM TO OPEN ACCOUNT $35K
MINIMUM TRADE SIZE N/A.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION
Great list! What about PropFX? Do they qualify?
  • #28
  • Nov 17, 2007 6:36am Nov 17, 2007 6:36am
i only can afford this :

http://atcbrokers.com IB FOR BGCFX.
MINIMUM TO OPEN ACCOUNT 10K
MINIMUM TRADE SIZE 50K.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION

what is their spread on majors?
  • #29
  • Nov 17, 2007 4:20pm Nov 17, 2007 4:20pm
Quoting amenlo9
i only can afford this :

http://atcbrokers.com IB FOR BGCFX.
MINIMUM TO OPEN ACCOUNT 10K
MINIMUM TRADE SIZE 50K.
LEVERAGE 100:1
COMMISSION $35-$50 PER MILLION

what is their spread on majors?
Amenlo9,

I just had an online chat with them y-day. First they are saying the MT4 platform connection is coming shortly (this time the estimate is 2weeks) and they said they would leave spreads to ECN Interbank completely, i.e. as low as 0pips.

I also chatted with fastbrokers who say they have an ECN. But it is abit of a disappointment. Why would any broker who claims to provide ECN try to make the spreads fixed? My explanation - greed! Their lust to control the spread only means they wanna squeeze extra juice.

One key question which instantly sheds light on whether they're truly ECN or just provide you with ECN price feed is scalping. Truly ECN brokers couldn't care less about you scalping (they'd charge some sorta commission or get other vicarious benefit from your equity and let you go free), whereas those that get their fingers into the spread start putting up ridiculous restrictions like minimum time between open/close times of a position, minimum open/close pip difference, etc.. Sad to see those marketing ECN services only coz they know they have to keep abreast of times.

Groovy
  • #30
  • Nov 17, 2007 5:18pm Nov 17, 2007 5:18pm
Quoting Groovy
also chatted with fastbrokers who say they have an ECN. But it is abit of a disappointment. Why would any broker who claims to provide ECN try to make the spreads fixed? My explanation - greed! Their lust to control the spread only means they wanna squeeze extra juice.
You hit the nail on the head. Gain Capital recently switched to a similar model. They began offering sub-pip pricing and charging commissions ($25/MM), however, they are not an ECN (nor have they have claimed to be). Instead, they're a hybrid dealing desk: tighter spreads + commissions (though the spreads are not as competitive as one could find on an ECN). Added to this, they have a $100k minimum for new accounts. InteractiveBrokers beats them hands down on both commissions and spreads, their minimum balance, $5k.
  • #31
  • Nov 17, 2007 5:59pm Nov 17, 2007 5:59pm
http://www.mbtrading.com/fx/default.asp
i think it is ECN too
  • #32
  • Nov 17, 2007 8:24pm Nov 17, 2007 8:24pm
Quoting Trader KGB
You hit the nail on the head. Gain Capital recently switched to a similar model. They began offering sub-pip pricing and charging commissions ($25/MM), however, they are not an ECN (nor have they have claimed to be). Instead, they're a hybrid dealing desk: tighter spreads + commissions (though the spreads are not as competitive as one could find on an ECN). Added to this, they have a $100k minimum for new accounts. InteractiveBrokers beats them hands down on both commissions and spreads, their minimum balance, $5k.
it seem like InteractiveBrokers still will be the best choice among of them.but their platform make me headache
  • #33
  • Nov 17, 2007 8:27pm Nov 17, 2007 8:27pm
Who has the best liquidity and the best spreads of the ECNs?
  • #34
  • Feb 18, 2008 3:25pm Feb 18, 2008 3:25pm
Quoting skepsi
http://www.mbtrading.com/fx/default.asp
i think it is ECN too
EFX is essentially an IB to MB Trading, though both get their price feeds and clear through a service called 3DForex. I'm not sure who the big banks are that feed liquidity into the 3DForex price pool, but they do certainly operate in a pure ECN fashion - that is, if you set a buy limit between the bid and the ask, your buy limit price will become the new bid price. They also claim to be anonymous.

I do use MBT among other brokers, and I have experienced both advantages and disadvantages. Their commissions are frustrating... $10 round-trip per standard lot. Sometimes the spreads do get quite low or even non-existant, but at other times they are 2-3 pips, no better than MM retailers. Execution is generally fast, even during fast markets (news time), all depending on dealing size of course. They also allow deal size down to 1000 currency units (a micro lot).

I agree with others in the thread though... if you're looking for an ECN with low opening capital, MBT or EFX are good candidates. EFX also offers some kind of integrated trading/charting platform that connects to the MBT Navigator software. I think that's the whole reason why EFX exists actually... they make a commission from MBT by attracting customers with their charting platform.

Thanks for the great summaries, everybody!
  • #35
  • Feb 19, 2008 2:00am Feb 19, 2008 2:00am
Quoting trader07
Who has the best liquidity and the best spreads of the ECNs?
Hotspot FX.
  • #36
  • Feb 19, 2008 5:42am Feb 19, 2008 5:42am
Quoting forexmoments
Hotspot FX.
From my experience I have to disagree. Hotspot is great in that it acts like a pure exchange and all trades are 100% anonymous. Depending on how you trade hs might not have sufficient depth for you to trade in size. It is great if you feel there is the need to trade some of the more liquid pairs decimalised, i.e. if you want to arb spot/futures or make markets in more exotic crosses
  • #37
  • Mar 12, 2008 8:52am Mar 12, 2008 8:52am
Hotspot retail (usa division) lowerd the minimum transaction size from 100k to 1k, giving EFX a run for the money. Extreme commission example 100k GBP/USD: Hotspot will charge $3 ($3 per 100k units) vs. EFX ~$10 ($5 per 100k USD). IB would charge around $4 ($2 per 100k USD). I think EFX will have to make a move soon.

Unfortunatly, at the euro division it appears that its still 100k multiples only, they also charge a bit more ($3 per 100k USD). Thats a pitty, because the USA division doesnt offer EUR accounts, and has (in my opinion) a much better platform (i still hate that java thing, it takes ages until you have a stop and target in place).
  • #38
  • Mar 12, 2008 1:19pm Mar 12, 2008 1:19pm
Quoting shrike
Hotspot retail (usa division) lowerd the minimum transaction size from 100k to 1k, giving EFX a run for the money. Extreme commission example 100k GBP/USD: Hotspot will charge $3 ($3 per 100k units) vs. EFX ~$10 ($5 per 100k USD). IB would charge around $4 ($2 per 100k USD). I think EFX will have to make a move soon.

Unfortunatly, at the euro division it appears that its still 100k multiples only, they also charge a bit more ($3 per 100k USD). Thats a pitty, because the USA division doesnt offer EUR accounts, and has (in my opinion) a much better platform (i still hate that java thing, it takes ages until you have a stop and target in place).
where did you get that info from?
they still say the minimum trade size is 100k
http://www.hotspotfx.com/trading/faq/#10
"Nothing is unexplainable, Everything is mystery" W. Liquorman
  • #39
  • Mar 12, 2008 1:49pm Mar 12, 2008 1:49pm
Quoting eyecelll
where did you get that info from?
they still say the minimum trade size is 100k
http://www.hotspotfx.com/trading/faq/#10
I checked out there demo, and noticed that it works now. Confirmed with their support via email.
  • #40
  • Mar 12, 2008 2:42pm Mar 12, 2008 2:42pm
Quoting shrike
I checked out there demo, and noticed that it works now. Confirmed with their support via email.
this is great news, if you guys like there euro platform better and you live in the u.s.a. you can just tell them and they will switch you on that platform, also they pay intrest on account balance, and better swap rates and lower commision, i don't think mb trading has a shot to compete with these guys only that they require lower deposit.
If I Go Broke Trying Then I Will die happy.
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