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real ECN brokers

  • #21
  • Apr 21, 2010 11:25pm Apr 21, 2010 11:25pm
Quoting quantum007
Its nice to have someone with an opposing opinion. Just would like to know on what basis do you have this opinion? do you have a real trading experience with FXCBS? or you just have another based opinion on another based opinion on another based opinion. because beleive me there is loads of them online and 90% of them are traders that people who dont know anything..

I think they are the same 90% that lose money in forex.

Please dont take this personal mate, I just want to discuss you opinion here
why do everyone posting in favor of fxopen have to get banned for multiple usernames ? fishy
  • #22
  • Apr 22, 2010 5:34am Apr 22, 2010 5:34am
Quoting forexlion
why do everyone posting in favor of fxopen have to get banned for multiple usernames ? fishy
Its quantum007,

Well i did not know that opening another account will get me banned, but hey..
my apologies to the guys in the forum and the admins.

I do not favor FX Open, and never will.

I have to admit these guys are very technologically advanced with their plug ins and their setup.. They are doing good for them selves but of course clients pay the bill.
  • #23
  • Apr 22, 2010 8:19am Apr 22, 2010 8:19am
Quoting bugscoe
I wonder how many people actually trade between the spread when using a ECN?

With as fast as the Fx market moves at times, this ability seems nothing more than a good marketing campaign. I can understand it's usefulness if you were trading illiquid pairs on a longer term basis but for active traders on the majors, I personally don't see it as a selling point.
the usefulness of this ability : when you place an order inside the spread, your order becomes visible to the rest of the ECN participants (as the new best bid or best ask) because of this you can sell and buy without waiting , while the others have to wait until bid becomes higher on the streamer . this is a very significant issue for scalpers on large spread such as gbpnzd , euraud....
  • #24
  • Edited 9:59am Apr 22, 2010 9:57am | Edited 9:59am
Quoting fxoxford
your 100% correct, but what taken dukascopy so long for there mt-4 ecn, fxopen have there's up and running with no problems?
That is true, the fact is that most of the big players now are dealing with Boston Technolgies, Although Boston Technologies bridge has been suffering so much lately and the reliability has effected all the brokers. and this is the reason why Dukas is still on beta, MB trading took them such a long time, and someone like FXCM is suffering so much on their MT4 right now.

and if you are a client of FXCM and file a complaint they point the blame to Boston.

My opinion, If dukas did not change the path they are going through they will never be able to release their MT4. it just doesn't make sense to trade on MT4 and check your real statement on another platform, and you end up the same night with making $1,000.00 US and sleep and wake up next morning with your P&L in negative due to synchronization purposes.


So looking forward to see how will Dukas Tackle this, and for how long will MB trading keep taking all these errors in their back office on their books before they decide to reflect it on their client books.


By the way, FX Open has nothing to do with ECN they never been and never will be
  • #25
  • Apr 22, 2010 12:27pm Apr 22, 2010 12:27pm
Quoting wael117
it just doesn't make sense to trade on MT4 and check your real statement on another platform, and you end up the same night with making $1,000.00 US and sleep and wake up next morning with your P&L in negative due to synchronization purposes.
Hello.
I talked with their support about it and they said to me that it will be fixed when MT will be available live-there will be no need to check the balance on another platform/trading statement from their page-everything will be fixed. And commissions will be displayed the way they should be on MT.
This is atleast what they said to me.

But what I noticed is that JForex platform much faster than their MT platform(demo); and while there are gaps between the candles in MT platform(like 1-2 pips), there are no in Jforex, because Jforex platform is quicker ! And there are different quotes at times in fastmoving marketes. May be it's because their MT is still demo, but I'm not sure.
  • #26
  • Apr 22, 2010 3:23pm Apr 22, 2010 3:23pm
Quoting staw
Hello.
I talked with their support about it and they said to me that it will be fixed when MT will be available live-there will be no need to check the balance on another platform/trading statement from their page-everything will be fixed. And commissions will be displayed the way they should be on MT.
This is atleast what they said to me.

But what I noticed is that JForex platform much faster than their MT platform(demo); and while there are gaps between the candles in MT platform(like 1-2 pips), there are no in Jforex, because Jforex platform...
The reason behind this is the bridge itself that they are using. and depending on the technology itself that is used. To build a bridge succesfully for ECN trading, the bridge has to read and execute from a FIX protocol station and not java based stations like these brokers are using now.

You have to note that the latency between the two systems i.e. the bridge and then the latency of their master platform for the liquidity providers, if they are executing through liqudity providers!!..

same problem is running now with almost all the brokers. Second best choice is that the brokers now started connecting though currenex platforms, although that has many issues by itself. loads of technical details and to connect and aggregate your platform through currenex and build a bridge is quiet complicated. and build a very heavy load on your servers.

The best decision is to interact between your aggregation system directly with your bridge. and that is the most successful. this system is very expensive and needs maximum maintenance all the time. but the most effect and the closest to ECN trading on a Fix protocol station.
  • #27
  • Apr 26, 2010 4:58pm Apr 26, 2010 4:58pm
Quoting @999
thank you very much
now we have :Interactive Brokers , hotspot fx , MP trading and fxopen .
what about Dukascopy ?
does Dukascopy allow traders to enter limit orders within the spread ?

deltastock allws Clients to place orders in ECN

Advantages of ECN trading :
One of the major benefits of trading with an ECN is that traders using these networks can negotiate trades directly with each other by placing limit orders, which can be viewed by all. Thereby avoiding the interference of a dealer and achieving better execution price, while generating liquidity in the ECN. Generally small retail traders are unable to deliver the needed volume of larger transactions, and therefore require the generation of additional liquidity from the so-called Liquidity Providers (providers of liquidity). These are usually large banks, brokers and market makers, who constantly quote large volumes of limit orders. This provides an opportunity for individual traders, who may wish to trade with a specific bank or liquidity provider, to do so.
  • #28
  • Apr 27, 2010 4:15am Apr 27, 2010 4:15am
Quoting forexlion
fxopen is white label ib for dukascopy

which means fxopen has dukascopy spreads + 1 or 2

its better to trade on dukascopy

why pay extra spread

even on so called ecn
lol, that's funny, first you claim they're a scam broker, and now you claim they're in a partnership with a world-class, established broker such as Dukascopy. Make your mind up.

Bottom line is, FX Open is a definite ECN, on MT4, I'm with them, and they're awesome.
  • #29
  • May 4, 2010 2:54am May 4, 2010 2:54am
Quoting witsnpips
lol, that's funny, first you claim they're a scam broker, and now you claim they're in a partnership with a world-class, established broker such as Dukascopy. Make your mind up.

Bottom line is, FX Open is a definite ECN, on MT4, I'm with them, and they're awesome.


Any broker who claims to be an ECN should allow you to see your order and the market depth(available liquidity in the order book). A real ECN environment occurs when your order if placed in the spread changes the Bid or Ask price. If that is not happening it is just a regular Marketmaker claiming to be an ECN - it is that simple

Regards,
Stream
  • #30
  • May 4, 2010 8:50am May 4, 2010 8:50am
Quoting streamline
Any broker who claims to be an ECN should allow you to see your order and the market depth(available liquidity in the order book). A real ECN environment occurs when your order if placed in the spread changes the Bid or Ask price. If that is not happening it is just a regular Marketmaker claiming to be an ECN - it is that simple

Regards,
Stream
Word.
  • #31
  • Oct 8, 2010 3:02pm Oct 8, 2010 3:02pm
So what is the bottom line on FXOpen? I want to use them but I am hearing mixed reviews. They lost their license. There appears to be a smear campaign going on too.
  • #32
  • Last Post: Oct 8, 2010 6:19pm Oct 8, 2010 6:19pm
They lost their license and they are claiming that they are working on getting a new one, but so far nothing has been done.

Even when they had a license, people were questioning its value since they were registered and regulated by Mauritius, a little island country.

Trading conditions have not changed at all since they lost their license, so for me as a customer nothing changed.

If you do not need high leverage or MT4 platform you are better of with Dukascopy.
You will get the same spread, same leverage, smaller commission rate, funds security and smaller minimum lot size.

I would not deposit any amount of money that is significant to me with them, at least until they get their license back and even then only if it is a decent one.

There is nothing wrong with them as a broker apart from the fact that there is no client's funds security. Your only choice is to trust that they are a honest broker and that for me is a deal breaker.
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