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Wanted: FSA regulated (UK) FX ECN broker

  • #1
  • First Post: Feb 20, 2009 9:05am Feb 20, 2009 9:05am
Hi everybody,
I am searching a well working FX broker with following requirements:

- ECN execution
- FSA* regulated (UK), deposit account hold in UK and covered by FSCS* in case of broker failure.
- minimal deposit not bigger than 50.000 USD

* FSA - Financial Services Autority (UK)
* FSCS - Financial Services Compensation Scheme (UK)

Thank you in advance and have a nice day.
  • #2
  • Feb 20, 2009 9:07am Feb 20, 2009 9:07am
Wanted: Moon on a stick.
  • #3
  • Feb 20, 2009 9:54am Feb 20, 2009 9:54am
You can talk to "London Capital Group" or Marex. Both offer the usual choice of multibank platforms (currenex, hotspot, ebs, etc.), they deal with individuals too, and are London based.
  • #4
  • Feb 20, 2009 10:09am Feb 20, 2009 10:09am

The minimum deposit to open a live trading account is $100000 (MAREX).

  • #5
  • Feb 20, 2009 10:11am Feb 20, 2009 10:11am
Yes i know, thought maybe in the current climate they may be more open to smaller accounts. LCG goes cheaper.
  • #6
  • Feb 20, 2009 10:13am Feb 20, 2009 10:13am
Too bad hotspot closed it's retail side. I don't think there are any ECNs for your average retail trader in the UK.
  • #7
  • Feb 23, 2009 8:25am Feb 23, 2009 8:25am
Thank you very much,
Will try to see how it could be with LCG.
Have a nice day.
  • #8
  • Feb 23, 2009 4:21pm Feb 23, 2009 4:21pm
Hi,

It might be worth looking at TwoWayMarkets. They have a Currenex plateform.

Good Luck

Bob
  • #9
  • Mar 1, 2009 8:55am Mar 1, 2009 8:55am
Quoting billyjimbob
Hi,

It might be worth looking at TwoWayMarkets. They have a Currenex plateform.

Good Luck

Bob
Thanks Bob,
When I have visited their website it seems they are not an ECN (currenex) broker,
it seems to be an IB for Saxo Bank (the same or very similar platforme sotfware).
Regarding FSA regulation, their website states:
" Twowaymarkets Ltd is a company authorised and regulated by the FSA to provide advice on spreadbetting, CFDs, futures, options and rolling spot foreign exchange."
So they are only advicer ? or it is normal for an IB ?


Until now it seems there are not many ECN brokers in UK ?!
  • #10
  • Mar 1, 2009 7:21pm Mar 1, 2009 7:21pm
Quoting tomlee
Thanks Bob,
When I have visited their website it seems they are not an ECN (currenex) broker,
it seems to be an IB for Saxo Bank (the same or very similar platforme sotfware).
Regarding FSA regulation, their website states:
" Twowaymarkets Ltd is a company authorised and regulated by the FSA to provide advice on spreadbetting, CFDs, futures, options and rolling spot foreign exchange."
So they are only advicer ? or it is normal for an IB ?


Until now it seems there are not many ECN brokers in UK ?!
Look here

http://www.twowaymarkets.com/forex/pro/
http://www.twowaymarkets.com/forex/currenexplatform/
http://www.twowaymarkets.com/forex/lite/

Whether they have a real ECN offering or not is debatable, but at least they seem to have retail currenex in pro an lite versions.

cheers
pescador
  • #11
  • Mar 2, 2009 2:42am Mar 2, 2009 2:42am
Twowaymarkets is an IB for London capital group. Only makes sense if they can get you better conditions than LCG directly (i doubt it - since they want to make some monies for themselfs too).
  • #12
  • Mar 4, 2009 8:33am Mar 4, 2009 8:33am
Hi,

Check out CFH Markets - read about them in FX Week a couple of weeks ago and heard good things, but not sure they take private individuals.

George
  • #13
  • Mar 12, 2009 9:11am Mar 12, 2009 9:11am
Quoting ArbTraderUK1
Hi,

Check out CFH Markets - read about them in FX Week a couple of weeks ago and heard good things, but not sure they take private individuals.

George
Thank you very much George, I will check their terms.
  • #14
  • Feb 12, 2010 1:18pm Feb 12, 2010 1:18pm
Did anyone actually try out CFH ? Their minm deposit is 50K...Any views on them please?
  • #15
  • May 25, 2013 6:05pm May 25, 2013 6:05pm
Quoting tomlee
Hi everybody, I am searching a well working FX broker with following requirements: - ECN execution - FSA* regulated (UK), deposit account hold in UK and covered by FSCS* in case of broker failure. - minimal deposit not bigger than 50.000 USD * FSA - Financial Services Autority (UK) * FSCS - Financial Services Compensation Scheme (UK) Thank you in advance and have a nice day.
I wrote about this on my blog (FX Brokers) recently and found this post, it's a bit old and there are more options now. But any way to answer your question, I believe the Bulgarian broker Deltastock were the first to offer true Direct Market Access to retail traders back in 1998 or something like that. Deltastock recently opened a London based subsidiary called DF Markets that offered everything Deltastock offered, their web platform has both the ECN/L2 DMA option and the Market Maker option.

Being based in the London means DF Markets are FSA regulated and all UK based FSA regulated brokers are covered by the FSCS.

The Eastern Europe based broker Dukascopy Europe is also a great ECN but it's not in the UK.
  • #16
  • May 30, 2013 9:42am May 30, 2013 9:42am
Quoting tomlee
Hi everybody, I am searching a well working FX broker with following requirements: - ECN execution - FSA* regulated (UK), deposit account hold in UK and covered by FSCS* in case of broker failure. - minimal deposit not bigger than 50.000 USD * FSA - Financial Services Autority (UK) * FSCS - Financial Services Compensation Scheme (UK) Thank you in advance and have a nice day.
maybye you can considering LMAX?
  • #17
  • May 31, 2013 1:24pm May 31, 2013 1:24pm
Well if DF markets is on the list then may be you can consider, i had also participated in the demo account in this broker, platform and execution was good but have no real deposit experience.
  • #18
  • Oct 23, 2015 6:46pm Oct 23, 2015 6:46pm
Research here -

  1. https://www.100forexbrokers.com/fsa-regulated-brokers
  2. https://www.100forexbrokers.com/stp-ecn-brokers
  3. https://www.100forexbrokers.com/mt4-ecn-brokers
    Attached Image (click to enlarge)
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TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #19
  • Oct 24, 2015 12:04am Oct 24, 2015 12:04am
fxgrow
have a nice day please
focus while relaxed to see better
  • #20
  • Edited 5:03am Oct 29, 2015 4:44am | Edited 5:03am
Quoting orabi
fxgrow have a nice day please
Wanted: FSA (now FCA) regulated (UK) FX ECN broker

  1. FxGrow is EEA Authorised (628755) not FCA Regulated.
  2. FxGrow is a brand name of Growell Capital, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with (CIF) license no. 214/13.
  3. Only FCA regulated brokers are covered by the UK FSCS (Financial Services Compensation Scheme) £50,000 investor compensation.
    Attached Image (click to enlarge)
    Click to Enlarge Name: FxGrow.PNG Size: 195 KB
    Attached Image (click to enlarge)
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Attached File(s)
File Type: zip FSCS - How FSCS protects your money.zip   1.5 MB | 538 downloads
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
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