PFG Best MT4 ECN

Does anyone have any experience trading with them, just in the process of opening an account. From my research they are a respected firm with a solid balance sheet (figures attached).

Any first hand experiences (MT4 ECN platform in particular)

I have had no problems with them. You should be in good hands. IMO

How many seconds to execute a trade with this broker?

Any problems with slippage in fast markets?

Just a conversation with a rep:

you: Hi, do you allow hedging on your mt4 account?

Joseph: yes intraday hedging till 5 pm NY time daily

you: could i have the time you allow it till the time you don't which is 5pm NY

you: is 9am - 5pm ny

Joseph: 5:10 pm till 5PM next day

Joseph: so at 5:10 pm today

Joseph: you will be able to hedge till 5:00PM tomorrow

you: so theres only a 10 minute period that where you dont allow it?

Joseph: that is institutional bank settle

Joseph: so at 5pm all hedges close out

Joseph: so if you are long 100K EUr/USD and Short 150K EUR/USD

you: 5:00 pm - 5:10 pm is the only time I won't be able to hedge?

Joseph: at 5 pm you will now be short 50K Eur/USD

Joseph: and would have to redo the hedge at 5:10 when the platforms open
up again

you: ok, thats fine.

you: Could you explain by what you mean by ECN?

you: How is that different from market makers?

Joseph: ECN is this

Joseph: 1) we do not take the other side of the trade

Joseph: or market maker

Joseph: sorry was being spoken to

Joseph: a market maker does

Joseph: we have 9 banks

Joseph: that provide bid and offers on pairs

Joseph: we aggregate the best bid and offer on each pair to the client

Joseph: so the best bid could be from bank 1

Joseph: and the best offer from bank 8

Joseph: on a particular pair

Joseph: more banks means competitive pricing

Joseph: also

Joseph: our mt4 bridge

Joseph: does not allow for banks to see your pending orders

you: ok so to clarify, as an ecn broker you never trade against your clients?
everything seems too good to be tue

you: true

Joseph: well

Joseph: we charge a commission

Joseph: $5 per standard lot traded

Joseph: .50 per 10K mini

Joseph: PFGBEST

Joseph: started as a futures firm

Joseph: that is how futures are traded. meaning that we PFGBEST do not
take the other side

Joseph: actually in futures that would be against the law

Joseph: all trades must clear through an exchange

Joseph: we created an online exchange in a way with the network of banks

you: ok

you: so pfg as a firm does not do that (bucket shop)

you: so your trying to say to do that be will be against the philosophy/code
of PFG?

Joseph: exactly

Joseph: spot on!

you: ok thanks


That alls sounds convincing to me

Me to I will try them! If anybody did please write your experience..

Thanks

never tried them, i'm comfortable with FXOpen ECN to be honest.