ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 | Forex Factory

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ECN && STP && Scalping && Hedging - Broker Review - Oct 2009

  • #1
  • First Post: Edited Oct 5, 2009 4:26am Oct 4, 2009 5:07am | Edited Oct 5, 2009 4:26am
Any using
ECN && STP broker
to Scalp and Hedge
with MT4
Superior connection, no delay, filled in split second, will not manipulate spread...

One more review please

Features:
1) ECN && STP
2) Scalping
3) Hedging
4) MT4

Thanks!
  • #2
  • Oct 4, 2009 4:33pm Oct 4, 2009 4:33pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting johnnybegood
Any using
ECN && STP broker
to Scalp and Hedge
with MT4
Superior connection, no delay, filled in split second.

One more review please

Features:
1) ECN && STP
2) Scalping
3) Hedging
4) MT4

Thanks!
so what?????
  • #3
  • Edited 4:25am Oct 5, 2009 3:24am | Edited 4:25am
let me rephrase:

Which broker is the best with these
Features:
1) ECN && STP
2) Scalping
3) Hedging
4) MT4
  • #4
  • Edited 4:25am Oct 5, 2009 3:41am | Edited 4:25am

  • #5
  • Oct 5, 2009 6:44am Oct 5, 2009 6:44am
Quoting johnnybegood
let me rephrase:

Which broker is the best with these
Features:
1) ECN && STP
2) Scalping
3) Hedging
4) MT4
Hi Johnny. FXOpen has the features you are after.

FXOpen ECN accounts are pure ECN meaning you get interbank spread plus a small commission. Scalping and hedging is fully allowed and MT4 hasn't been restricted in any way so you can use it as you are used to using it including using EAs.

Make sure you open an ECN account though as FXOpen also has "standard" and "micro" accounts which have a dealing desk so certain scalping strategies may fall foul of the dealer and you would be asked to move to ECN anyway or move along
  • #6
  • Oct 6, 2009 8:42am Oct 6, 2009 8:42am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Look where they are registered..... whats about the safety of traders money? This concern should be in first place when choosing a broker
  • #7
  • Oct 6, 2009 1:03pm Oct 6, 2009 1:03pm
onu,

what is the comission on FXOpen ?

I was in their website but coudln't find a thing about their ECN comissions...
  • #8
  • Oct 6, 2009 1:54pm Oct 6, 2009 1:54pm
Quoting johnnybegood
let me rephrase:

Which broker is the best with these
Features:
1) ECN && STP
2) Scalping
3) Hedging
4) MT4
Easy answer. Open two accounts with MB Trading to solve the hedging problem and you have the rest of what you need, plus your safety of funds.
  • #9
  • Oct 6, 2009 3:26pm Oct 6, 2009 3:26pm
Quoting johnnybegood
Any using
ECN && STP broker
to Scalp and Hedge
with MT4
Superior connection, no delay, filled in split second, will not manipulate spread...

One more review please

Features:
1) ECN && STP
2) Scalping
3) Hedging
4) MT4

Thanks!
You could also look at ATC which is FXCM UK so hedging allowed. But when you say you want "no delay, filled in split second," having that cream puff scenario consistently just isn't reality my friend-anywhere.
  • #10
  • Oct 6, 2009 7:45pm Oct 6, 2009 7:45pm
Nordmarkets ECN is the best with what you're asking, at the moment.
  • #11
  • Oct 6, 2009 8:59pm Oct 6, 2009 8:59pm
I have heard good things, which is hard to say in this market, about MB trading.

I do not endorse anyone. simply passing along knowledge from trader to trader.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #12
  • Oct 7, 2009 12:14am Oct 7, 2009 12:14am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting salvador_
onu,

what is the comission on FXOpen ?

I was in their website but coudln't find a thing about their ECN comissions...
Sorry, cant help you out ... just contact their live chat.

I m not interested to go with a broker that requires a minimum deposit of 1000$ to open acc. and on the other side force me to trade a minimum lot size of 1 full lot on live acc.....and to make this trap even worse , they allow 0,1 mini lots on the demo acc.

What a BS!! Traders beware
  • #13
  • Oct 7, 2009 3:18am Oct 7, 2009 3:18am
Quoting onu
Sorry, cant help you out ... just contact their live chat.
I did just that. Commission is 0.0007% round turn. I made a trade on eur/usd earlier and it was $10.30 so that pans out.

Quoting onu
I m not interested to go with a broker that requires a minimum deposit of 1000$ to open acc. and on the other side force me to trade a minimum lot size of 1 full lot on live acc.....and to make this trap even worse , they allow 0,1 mini lots on the demo acc.
According to their forum, 0.1 lots on the demo is for testing because they want to offer it on live ECN soon. Anyway, there is really no point trading ECN unless you have at least $10k in there anyway so at that point, 1 full lot is not such a problem.
  • #14
  • Oct 7, 2009 7:40am Oct 7, 2009 7:40am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
"..there is really no point trading ECN unless you have at least $10k.."

I agree on that. But its a trap for newbies to trade on an 1000$ acc with 1 lot... its just an unethical/misleading offer from this broker
  • #15
  • Oct 8, 2009 2:07am Oct 8, 2009 2:07am
Quoting onu
"..there is really no point trading ECN unless you have at least $10k.."

I agree on that. But its a trap for newbies to trade on an 1000$ acc with 1 lot... its just an unethical/misleading offer from this broker
Well, they will have lower volume minimums soon anyway.
  • #16
  • Oct 8, 2009 3:19am Oct 8, 2009 3:19am
Quoting onu
Sorry, cant help you out ... just contact their live chat.

I m not interested to go with a broker that requires a minimum deposit of 1000$ to open acc. and on the other side force me to trade a minimum lot size of 1 full lot on live acc.....and to make this trap even worse , they allow 0,1 mini lots on the demo acc.

What a BS!! Traders beware
yeah i know... but i believe or at least is announced that they were going to lower the minium trade to 0,1 lots.... how soon will it be implemented? i have no idea
  • #17
  • Oct 8, 2009 3:22am Oct 8, 2009 3:22am
what about nordmarkets.com ? Are they anygood? they seem to have 2 accounts, the mini and the ECN one which you have to fund substantially higher than the mini of course...
  • #18
  • Oct 8, 2009 4:53am Oct 8, 2009 4:53am
Quoting oakmonster
I did just that. Commission is 0.0007% round turn. I made a trade on eur/usd earlier and it was $10.30 so that pans out.
10.30 on the euro is ridicules. I pay 6$ AUD on IB on the cable
  • #19
  • Oct 8, 2009 6:06am Oct 8, 2009 6:06am
Quoting >Apocalypto<
10.30 on the euro is ridicules. I pay 6$ AUD on IB on the cable
Is that round turn? Forex? IB also has options and futures etc....

I did try to open a trade on an IB demo, but it flashed up a blank window then locked up.

Trying the java trader workstation demo now, but I still have 15mins before I will be able to log in to it.

In any case. IB doesn't have MT4 which is a hell of a lot simpler to use
  • #20
  • Oct 8, 2009 6:18am Oct 8, 2009 6:18am
Just managed to work out how to buy and sell forex market orders on the IB platform. The commission was $10/100k lot round turn so it's about the same as fxopen charges.

By the way, how do you hedge on IB? Is it possible? It's a little like Oanda where if you buy 100k, then sell 100k, it basically cancels your buy out and you are out of the market.
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