Once and for all, who is the best ECN?!

If nothing else, it will be good to have a list of ECNs everyone may not be aware of. Thanks.

Well, any kind of "who is the best" questions will never have a "once and for all" answer, because it's subjective, people have different opinions, and brokers are always changing.

I use MB Trading and have had not a single problem with them. Their platform sucks, and bad, but if you need an ECN then it's not a big deal. I'm about to switch from MBT to a MT4 based broker so I can more easily trade on a mobile device. If you demo MBT, note that their demo accounts and infrastructure apparently has some problems as positions are suddenly closed, open orders disappear, and account balances are reset. However, I have had no such problems on my live account.

I should have known.

Some people are passionate about their ECNs, if they are getting great service.

Thanks.

Here is a list of a few of them
http://www.forexanonymous.com/search.php?id=22

Yes, although their demo platform recently has been screwy, I've never had the unfortunate experience of being cheated or screwed out of hundreds of $$ like I hear so many other traders having. To me, the service I currently get is fine and should be the norm but apparently it's not unfortunately. It's a pretty bad state of affairs in an industry when good/acceptable service like MBT is considered five star. ("five star" to me would be getting a call every once in a while to make sure I'm happy, to see what they can do for me, take me out to dinner, etc., stuff like that hehe)

Slightly out of date:

http://www.londonfx.co.uk/ecn.html

I also use MB trading/EFX, and am very happy with them. And I disagree with the "platform sucks" comment, although I respect his right to that opinion. Once I got used to the EFX platform, I found that I really like it.

I first had an account with Tradex (big mistake), so I have that to compare it to. I think the people at EFX are honest and operate in integrity at least (that's saying a lot in this industry). Given that perspective, I'm satisfied, and on another note, I think Justin's support is outstanding.

For what it's worth...

Anyone else with any insight?

There are several ECN platform around. (exclude the ones only for institutions and high-end individuals)

Hotspot FX, Interactive Broker, MBTF, COESfx, Dukascopy. Not much difference between them, except open-account Min amount, Commission policy, Leverage level, swap, etc.

Personally I am more favor to US brokers. And IB, Hotspot, MBTF would be my top list. COESfx is more like a techology firm and its commission is a bit unacceptable.

regards

I am following up w/ my latest findings.

First, thanks to Turbo Kaos for sending me to ODL securities. Those are the accounts for big boys.

I went to V-Cap, and so far have been extremely impressed with the customer service. Ask for "Paul," he was great.

Anyhow, V-Cap is a IB for multiple ECNs including Hotspot and Lava. They have the ability to provide quotes from multiple ECNs, while completely transparent to you. They IB for FC Stone.

IE) buy EURUSD w/ Hotspot, exit EURUSD w/ Lava

You really have to shake the trees to find the ECNs w/ REAL value for the money. Why waste our time, right?

Regards.

I am still gathering info from Paul at VCap. Will post information as it comes.

Does anyone else have any input on who they think the best ECN is?

Thank you.

I was just wondering why my post in this thread has not been , well, posted?

I had written about a few ECNs and some info. about them. Is my post being flagged as this is not allowed?

Thanks,

Veng.

In order to find the best ECN you need to find the ECN which charges an 'average' commission. Or a relative market commission, then look for one with the best consistent spreads on the lowerside.

Dukascopy, fxopen ECN (same feed and mostly the same liquidity), Hotspotfxi. These are a few I have found to be true ECN with 'value for money'. That is, they are not the cheapest in terms of commission, but they are the best value. Alot of the cheaper ECN's use the label "ECN" as a marketing ploy. When in fact they are just a big bucketshop.

There are a few brokers who claim to be on the currenex network that do this.

And those brokers would be? I've got a couple of names in mind...just curious if what I am thinking is the same as what you are thinking...

I don't slander companies, I only slander people. I dare say the majority on the currenex network are buckets or market makers. Currenex have a dealing desk of their own for liquidity purposes. So I don't see how it would work with STP.. Either way its being dealt with.

Just assume guilty until proven innocent, and you won't go wrong. Or go to another network. Currenex is connected to them all basically.