ECN Broker with Spreads on E/J under 2Pips, Leverage 1:200, Minimum Deposit $1000 | Forex Factory

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ECN Broker with Spreads on E/J under 2Pips, Leverage 1:200, Minimum Deposit $1000

  • #1
  • First Post: Sep 4, 2009 10:52am Sep 4, 2009 10:52am
Hi Guys,

i am looking for an ECN Broker with decent Spreads on E/J preferably under 2 Pips, Leverage 1:200, Minimum Deposit $1000 or €1000.
Scalpers should be welcome.

Any Suggestions ?

Thanks,
Tex.
  • #2
  • Sep 7, 2009 5:08am Sep 7, 2009 5:08am
Quoting tex
Hi Guys,

i am looking for an ECN Broker with decent Spreads on E/J preferably under 2 Pips, Leverage 1:200, Minimum Deposit $1000 or €1000.
Scalpers should be welcome.

Any Suggestions ?

Thanks,
Tex.
I'm with FXCM and they regularly have EJ spreads under 2 pips; usually 1.7 or lower. I don't know their min deposit or leverage even, as I rarely go more than 20:1 myself, but I'm sure you can just check their website for that.

Best wishes...
  • #3
  • Sep 7, 2009 7:02am Sep 7, 2009 7:02am
I found the EJ to be constantly around 3 pip on the EJ at FXCM Australia.

If you are Australian an ECN STYLED broker is www.gomarketsaus.com. ECN "styled" ruins the idea of ECN but I have found their spreads to be the same or a little better than FXCM Australia. www.gomarketsaus.com have also been claiming to be NDD like FXCM Australia are.
  • #4
  • Sep 8, 2009 10:28pm Sep 8, 2009 10:28pm
fxopen ecn is probably your best bet, but remember, any legit ecn, will not let you trade under 100k quantity. Dangerous on ECN with 1k, and i would suggest not doing it.
  • #5
  • Sep 9, 2009 2:54am Sep 9, 2009 2:54am
Quoting Takisd
any legit ecn, will not let you trade under 100k quantity. Dangerous on ECN with 1k.
Now a days, that is not true, because of the volume of the little traders at any one time often adds to that volume.

Hence most ECNs today are now trading as low as 10k.
  • #6
  • Sep 9, 2009 5:39am Sep 9, 2009 5:39am
Quoting aquaart
Now a days, that is not true, because of the volume of the little traders at any one time often adds to that volume.

Hence most ECNs today are now trading as low as 10k.

Re-read what i said. REAL ecn.. REAL.... Theres a whole bunch of shitboxes around the net claiming to be ECN..... but 100k is the minimum trade size on the market.... Unless they are pooling liquidity which makes them NOT an ecn, they are unable to get it onto any REAL liquidity network in the world.

The interbank works in 1 million dollar contracts only.. So liquidity networks already discount the market for you to get onto it at 100k. So unless your liquidity provider is perhaps located in Kenya, lets say, where 10k is actually a significant amount of money, and they do the exchange via wheelbarrow and pieces of A4 paper on it with IOU written. Anything allowing quantites under 100k, is not a legit ECN OR your account is not being run directly to their liquidity provider.

Sorry to rant, but too many people listen to what brokers advertise and say these days.
  • #7
  • Sep 9, 2009 11:14am Sep 9, 2009 11:14am
Quoting Takisd
Re-read what i said. REAL ecn.. REAL.... Theres a whole bunch of shitboxes around the net claiming to be ECN..... but 100k is the minimum trade size on the market.... Unless they are pooling liquidity which makes them NOT an ecn, they are unable to get it onto any REAL liquidity network in the world.

The interbank works in 1 million dollar contracts only.. So liquidity networks already discount the market for you to get onto it at 100k. So unless your liquidity provider is perhaps located in Kenya, lets say, where 10k is actually a significant...
That's just wrong. There are plenty of banks in the Interbank system that negotiate much lower to brokers that send them volume. Please correct your facts, you're talking points are three years old.
  • #8
  • Sep 9, 2009 1:10pm Sep 9, 2009 1:10pm
Quoting IndyTrader
That's just wrong. There are plenty of banks in the Interbank system that negotiate much lower to brokers that send them volume. Please correct your facts, you're talking points are three years old.
He is right you know. 1.00 standard lots is the minimum unless you match in house or aggregate the smaller orders (eg one trader has 0.4 lots in, another has 0.6 lots so they are lumped together or just not filled). I don't know of any ECN broker (even Dukascopy) who is big enough to be able to get banks to lower their minimums no matter how good their negotiation skill is.
  • #9
  • Sep 9, 2009 1:20pm Sep 9, 2009 1:20pm
Right, guessing people who get <100K fills on IaB directly from DB, GS, ABN etc. are receiving fake tickets then..
  • #10
  • Sep 10, 2009 1:50pm Sep 10, 2009 1:50pm
Quoting shrike
Right, guessing people who get <100K fills on IaB directly from DB, GS, ABN etc. are receiving fake tickets then..
Or their orders are filled by being aggregated, not purely ECN.
  • #11
  • Sep 10, 2009 6:41pm Sep 10, 2009 6:41pm
Quoting IndyTrader
That's just wrong. There are plenty of banks in the Interbank system that negotiate much lower to brokers that send them volume. Please correct your facts, you're talking points are three years old.

Prove me wrong.

Unless you are dealing OTC with a bank, and want the 2-3c/dollar spread. You cannot put less than 100k through the market..

For dealings in Australia you are dealing with the cash market for anything under 50k AUD, and get the cash/wire price.

If you deal with 50k-100k you get pooled on a direct 1:1 trade (non speculative). And if you are doing over 120k/day you get interbank prices minus 1-5 pip spread + fees.

So instead of being in denial. Work out the difference between a cash market and a speculative market. And the liquidity required for both.
  • #12
  • Sep 10, 2009 7:26pm Sep 10, 2009 7:26pm
Quoting oakmonster
Or their orders are filled by being aggregated, not purely ECN.
Ok, guessing they are lying on their website too then.
  • #13
  • Sep 10, 2009 7:47pm Sep 10, 2009 7:47pm
Unfortunately shrike, in the fx world. Guilty until proven innocent. Especially with brokers.

A brokers job is to be a snake. Its a sales job, and as we all know with car salesman for instance, they want to margin almost 100%.

For instance...

There are 4 manual 3 litre turbo toyota hilux surfs, in Australia.

I just bought a new pajero exceed.

The trade in price offered for the surf was 2500 AUD.

The ebay price for this rare version of the car, is anywhere from 15-30k.

If I traded it in to the car dealer, they would resell it for the ebay price or more!

Yet they try to sell you on the idea. By saying its an old car, with no real value bla bla....

Same as a broker claiming or mentioning teh word ECN, it puts you under the illusion they aren't trying to profit from you.
  • #14
  • Sep 10, 2009 9:14pm Sep 10, 2009 9:14pm
Quoting Takisd
Prove me wrong.

Unless you are dealing OTC with a bank, and want the 2-3c/dollar spread. You cannot put less than 100k through the market..

For dealings in Australia you are dealing with the cash market for anything under 50k AUD, and get the cash/wire price.

If you deal with 50k-100k you get pooled on a direct 1:1 trade (non speculative). And if you are doing over 120k/day you get interbank prices minus 1-5 pip spread + fees.

So instead of being in denial. Work out the difference between a cash market and a speculative market. And the liquidity...
Takisd,

I agree with you.

From trading with Interactive Brokers I have noticed that any trades I took with less then 80K had a slower execution time then 80-100K and above.

Now I take 100K positions 98% of the time for the faster execution time.

I am also sus on any broker that talks about interbank fills on orders under 100K IB even notes that orders maybe pooled due to lower size.

IB is upfront about that which makes me confident in them.

When I spoke to a fella at hotspot he told me (last year) 1 million is an interbank standard and 100K is a mini. Since then I have hard that from a few different people.

That makes sense to me.
  • #15
  • Sep 28, 2009 10:05pm Sep 28, 2009 10:05pm
Quoting forexlion


fxopen has a history of suddenly missing money from your account with the alibi that you used wrong means to earn money

Takisd will always favor fxopen as he is one of the owners of this scam broker

the internet is full of fxopen scams just google
R u serious?
  • #16
  • Sep 29, 2009 1:20am Sep 29, 2009 1:20am
am one of they victims already

Quoting &gt;Apocalypto&lt;
R u serious?
Charting Markets into the Future...MǎҖ€¥.
  • #17
  • Sep 29, 2009 1:58am Sep 29, 2009 1:58am
Quoting Takisd
fxopen ecn is probably your best bet, but remember, any legit ecn, will not let you trade under 100k quantity. Dangerous on ECN with 1k, and i would suggest not doing it.
WTF does that mean?
  • #18
  • Sep 29, 2009 2:00am Sep 29, 2009 2:00am
Quoting Takisd
Unfortunately shrike, in the fx world. Guilty until proven innocent. Especially with...
Do any amount of research and you'll find your statements to be totally false.
  • #19
  • Sep 29, 2009 2:11am Sep 29, 2009 2:11am
Quoting &gt;Apocalypto&lt;
R u serious?
Unfortunately I think he is. However, I know Takisd and he is definitely not one of the owners. He just trades with them.

Quoting IndyTrader
Do any amount of research and you'll find your statements to be totally false.
No, he is quite right. Every trader blames the broker when they make a bad trade. It's in a trader's nature that they feel they are the greatest trader that ever lived and can do no wrong
  • #20
  • Sep 29, 2009 6:04am Sep 29, 2009 6:04am
I wish I owned fxopen. I wouldn't have to grind out trades to make money if I were.

I actually trade bigger at interactive brokers than fxopen... But junglelion, the douchebag scam artist who has been on demo for 20 yrs and never has the nuts to take a live trade but would rather sell his crap and pretend he knows something, doesnt like me... Cos his zulutrade wiped mydemo and i witnessed him change a call on the forum...

Hes what every newbie cheerleader ever wanted.

Btw, if you can traade sub 100k on full market execution with no dealer intervention or flow through. I will happily suck your balls.
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