ECN/STP brokers..With max pairs..Any help? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Any good ECN/STP/DMA Spreadbet brokers out there? 7 replies

Any ECN/STP Brokers in the U.S.? 10 replies

Good UK ECN/STP/DMA Brokers with New York Close Charts? 6 replies

NDD+STP+ECN and (or) NDD+STP with MT4 - Broker Comparison list 6 replies

ECN/STP brokers 21 replies

ECN/STP brokers..With max pairs..Any help?

  • #1
  • First Post: Feb 3, 2010 10:36am Feb 3, 2010 10:36am
Hi there,

I am a Fund manager and use Oanda for my clients so far. However, with growing client base and equity, I am looking to move to an ECN/STP broker/platform for larger account sizes. Here are my requirements and I would appreciate any reply/comment on the issue:

1. ECN/STP broker

2.Max number of pairs. Oanda offers 50+ pairs. In case I move some of my accounts to ECN brokers, and they dont offer as much pairs, my larger equity clients would suffer and thus it is a very important consideration.

3. Should offer Money Manager solutions like PAMM/LAMM accounts with assistance in Fee charging.

4. Preferably non US(not mandatory though).


Alpari UK with DirectPro seemed to fit in but unfortunately, they do not have Money Manager solutions with DirectPro(Currenex) and their MT4 platform has a min lot size of 3 lots(what crap!).


Any advices?

AG
  • #2
  • Feb 14, 2010 1:28am Feb 14, 2010 1:28am
Quoting fxtrader15
you may want to take a look at Advanced Markets....
Thanks for the heads up..i would take a look
  • #3
  • Feb 14, 2010 1:42am Feb 14, 2010 1:42am
just checked out on NFA site

http://www.nfa.futures.org/basicnet/...25&contrib=NFA

I am not going with them.
  • #4
  • Feb 14, 2010 2:30am Feb 14, 2010 2:30am
If you look up Brocco (one of their owners) on the NFA website - this dude has had quite a few firms registered, and most of them had troubles with either NFA or CFTC. Same story with the other guy listed as principal (Mr. Gooch). Certainly not a very trust inspiring double. If Mr. Dow was right - that the trend is more likely to continue than not - its only a matter of time.
  • #5
  • Feb 14, 2010 3:02am Feb 14, 2010 3:02am
In my search so far, I have come accross two groups worth mentioning.

1. London Capital Group, UK: Min deposit is 10K

2. CFH Markets, UK: They accept only 50K+ clients and thus cater to only institutional clients.

I know it would be difficult to have a review on them here, but in case any one has had any experience, kindly let me know.
  • #6
  • Feb 14, 2010 5:15am Feb 14, 2010 5:15am
From my knowledge fxopen ecn has everything you need.. IB does too but i dont recommend them anymore. And dukascopy perhaps?

I'd look at those if you are looking for relatively retail services. If you are looking to institutionalise yourself, I'd go direct with a bank.
  • #7
  • Feb 14, 2010 6:10am Feb 14, 2010 6:10am
I had looked for Dukascopy and Fxopen. However, my problem was limited number of pairs on their platform. Dukas was my first choice, but it supports only 22 odd pairs and that is a problem for me.

When you say you'd go with a Bank...What banks are we talking about here? I would at least want to take a look at what they offer.

Thanks
  • #8
  • Feb 14, 2010 6:37am Feb 14, 2010 6:37am
Well, I would suggest UBS mostly. But UBS are in dire straits at the moment. So RBS, dresdner, citibank(not recommended), deutche, some of the japanese banks. Plenty do it, but you gotta have the funds to get involved. So if you are talking 7 figures, you need to contact an RM and try to organise a rolling line of credit (leverage) and for them to hook you into their desk.
  • #9
  • Feb 14, 2010 6:38am Feb 14, 2010 6:38am
Thanks for the response...I cant use them for now sure....But perhaps in some time I can..Thanks for the heads up.
  • #10
  • Feb 14, 2010 8:28am Feb 14, 2010 8:28am
The best site that I have found that has accurate information on forex brokers and their offerings is http://www.100forexbrokers.com/

You will not find reviews of them there but you can do a great search using your criteria to determine the 3 or 4 brokers that you are interested in. With that information you can then ask for opinions of them here on FF or some other site.
  • #11
  • Feb 14, 2010 8:30am Feb 14, 2010 8:30am
Quoting flyer415
The best site that I have found that has accurate information on forex brokers and their offerings is http://www.100forexbrokers.com/

You will not find reviews of them there but you can do a great search using your criteria to determine the 3 or 4 brokers that you are interested in. With that information you can then ask for opinions of them here on FF or some other site.
Yeah I have been looking at that website all the while my search was on....

Thanks for the info anyways
  • #12
  • Feb 14, 2010 9:13am Feb 14, 2010 9:13am
I do look into LCG live account for weeks，very impressive spread and cheaper commission comparing with IB. Some pro guy think highly of it. Downside is no segregated account available. you may have bank Guarantee with LCG for $500k deposit. LCG maybe a very good choice！ Min.deposit with LCG is 50k.
CFH Markets seems segregated account available，but rarely informations about its platform！
  • #13
  • Feb 14, 2010 9:59am Feb 14, 2010 9:59am
Quoting good mind
I do look into LCG live account for weeks，very impressive spread and cheaper commission comparing with IB. Some pro guy think highly of it. Downside is no segregated account available. you may have bank Guarantee with LCG for $500k deposit. LCG maybe a very good choice！ Min.deposit with LCG is 50k.
CFH Markets seems segregated account available，but rarely informations about its platform！
Thanks for your reply. Min deposit is 10K with LCG, I have been interacting with them lately. Also, they are FSA regulated and I guess it is mandatory for them to have segregated accounts, but I am not sure of it.
If you have used their Live accounts, can you throw some light on their customer support, the avg time it takes for them to open a new account etc?

CFH markets is used by another Money Manager I know and he speaks good of them. The only constraint is as you said, no reviews. One possible reason is that they accept $50K and above accounts and thus only Pro traders must be using it and they usually dont write reviews.

Thanks for the info anyways.
  • #14
  • Feb 14, 2010 12:23pm Feb 14, 2010 12:23pm
Seggregated accounts or not, if LCG classifies you as a retail customer (as opposed to professional trader or ECP) you are insured by the Customer compensation scheme for GBP 50K in the case of a broker bankruptcy (see http://www.fscs.org.uk ).
  • #15
  • Feb 14, 2010 12:26pm Feb 14, 2010 12:26pm
Quoting shrike
Seggregated accounts or not, if LCG classifies you as a retail customer (as opposed to professional trader or ECP) you are insured by the Customer compensation scheme for GBP 50K in the case of a broker bankruptcy (see http://www.fscs.org.uk ).
Thanks Shrike. As I have said, I am money manager and my clients are both retail and corporates. You say that as a retail customer I am insured. But what if they put me as a professional trader or ECP, what kind of security would I have then.

Thanks for the link, I am going through it.
  • #16
  • Last Post: Feb 14, 2010 1:16pm Feb 14, 2010 1:16pm
I think the compensation scheme is only for retail clients. As professional or ecp you are deemed a sophisticated investor that can do its own DD and has to manage ctpty/credit risk on his own. I don't think a momeymanager can be classified as retail, but that is really something to discuss with a securties lawyer - especially since other people's money is involved, you neeed to cover your arse, legally speaking.
0 traders viewing now