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ECN/STP brokers

  • #1
  • First Post: Feb 19, 2010 7:27pm Feb 19, 2010 7:27pm
Hi,

Please can somebody recommend a regulated reputable (trully) non USA based MT4 ECN/STP broker that he or she have personally used and which accept any (e.g. scalper, hedging etc.) EA`s. At least a minimum of $250 to open an account. If it is not allowed on this forum to recommend these brokers please email me at [email protected] with subject “ECN/STP brokers”.
  • #2
  • Jan 11, 2011 5:32pm Jan 11, 2011 5:32pm
Quoting like22
Hi,

Please can somebody recommend a regulated reputable (trully) non USA based MT4 ECN/STP broker that he or she have personally used and which accept any (e.g. scalper, hedging etc.) EA`s. At least a minimum of $250 to open an account. If it is not allowed on this forum to recommend these brokers please email me at [email protected] with subject “ECN/STP brokers”.
NordFX should be right for you.

I haven't used it personally (i am still demoing) , but friend who brought me here uses it
Okay, let's have fun...
  • #3
  • Jan 11, 2011 10:01pm Jan 11, 2011 10:01pm
Seriously, you are not going to get an ECN account for that small deposit. You will see $1000 min deposits for ECN accounts but to be serious, $5000 is more likely to be your lowest serious entry point for an ECN account.

With $250 just stick to a micro account with a market maker. You will not get anything else.
  • #4
  • Feb 28, 2011 5:24pm Feb 28, 2011 5:24pm
Quoting oakmonster
Seriously, you are not going to get an ECN account for that small deposit. You will see $1000 min deposits for ECN accounts but to be serious, $5000 is more likely to be your lowest serious entry point for an ECN account.

With $250 just stick to a micro account with a market maker. You will not get anything else.
Yes, oakmonster is right. From what i know you need at least 5000$ for not loosing money with ECN account.
Okay, let's have fun...
  • #5
  • Feb 28, 2011 5:31pm Feb 28, 2011 5:31pm
Almost all good ECN brökers I know of are either US based, or don't have MT4.
  • #6
  • Feb 28, 2011 6:49pm Feb 28, 2011 6:49pm
MBTrading (ECN) has MT4, Oanda has MT4, ATC Brokers (ECN) has MT4.
  • #7
  • Feb 28, 2011 7:33pm Feb 28, 2011 7:33pm
I would not worry about ECN or STP requirement whatsoever unless one has 20k-50k to trade with. Based on personal experience and experience of many others who have been in this business for a while, ECN or MM willl not make a difference in the beginning. Becoming consistently profitable and knowing why that goal was reached is more important. That said, there are some MM's that are dishonest.

The dynamics of ECN trading are slightly different than MM, but if someone places small orders under 1mio per ticket, there should be almost no difference in filling, provided that you are with good, honest MM and/or good, reputable ECN.

London is the centre of FX world, there are several good ECN or STP brokers that can connect you to various pools of liquidity, based on your preference and needs. Marex, LCG, Baxtar, CFH Markets spring to my mind.



Quoting like22
Hi,

Please can somebody recommend a regulated reputable (trully) non USA based MT4 ECN/STP broker that he or she have personally used and which accept any (e.g. scalper, hedging etc.) EA`s. At least a minimum of $250 to open an account. If it is not allowed on this forum to recommend these brokers please email me at [email protected] with subject “ECN/STP brokers”.
  • #8
  • Feb 28, 2011 8:18pm Feb 28, 2011 8:18pm
Quoting Aja
MBTrading (ECN) has MT4, Oanda has MT4, ATC Brokers (ECN) has MT4.
He said non US based. These are all based in the US (and btw, ATC Brokers is an IB for FXCM).

Quoting petr1029
I would not worry about ECN or STP requirement whatsoever unless one has 20k-50k to trade with.
Disagree.

What you'd want to worry about is the conflict of interest between you and your bröker. In other words, the first thing you gotta worry about is if your bröker has any interest in you losing. I'd say if you have as little as $1000, go with an ECN since you're more likely to avoid conflicts of interest than when trading with MM's.

The next thing you gotta worry about is regulation. You are generally more likely to find a totally unregulated bröker (or one with some bullshit Russian type of regulation) in the realm of MM's than that of ECN's.

Quoting petr1029
London is the centre of FX world, there are several good ECN or STP brokers that can connect you to various pools of liquidity, based on your preference and needs. Marex, LCG, Baxtar, CFH Markets spring to my mind.
Those are some nice names for sure, but you need a lot of money to start with them. The guy sounds like he just wants to start out with $250 on MT4.
  • #9
  • Feb 28, 2011 9:26pm Feb 28, 2011 9:26pm
I tend to think that MM world has evolved quite a lot and buckets can be managed in various ways. While MM's like to keep their buckets balanced, it does not necessarily mean they will go after your stops or quote you wrong prices just to push you into a losing trade. Not to mention that many "true ECN's" still have internal buckets, either to group trades before they are matched or simply to accommodate very small traders. But I agree that having zero conflict of interest between you and your broker is one less thing to worry about. My centre point was that I am surprised how much emphasis there is on ECN/STP/MM differences as if that was the reason traders are unprofitable. With 1000 dollars, your success will not be determined by your broker, unless you select one that is unregulated and is likely to take your money and run. Then again, there are many good brokers out there, which makes me wonder why people want to go with offshore island brokers... maybe high leverage is what they want.



Agreed on regulations. Go with the jurisdiction that is well regulated, FSA, FINMA, CTFC, MAS.


While understanding the difference between ECN and MM is important, a beginner will better spend his time learning discipline, psychology and money management. Absolutely no pun intended to the $250 trader, of course.
  • #10
  • Mar 1, 2011 2:55am Mar 1, 2011 2:55am
Quoting Marv
The next thing you gotta worry about is regulation. You are generally more likely to find a totally unregulated bröker (or one with some bullshit Russian type of regulation) in the realm of MM's than that of ECN's.
There is no Russian regulator for Forex. Only for the Russian Stock Market. If you see a Russian Forex broker claiming to be regulated by Russia, you've been lied to.
  • #11
  • Mar 1, 2011 3:51am Mar 1, 2011 3:51am
Quoting like22
Hi,

Please can somebody recommend a regulated reputable (trully) non USA based MT4 ECN/STP broker that he or she have personally used and which accept any (e.g. scalper, hedging etc.) EA`s. At least a minimum of $250 to open an account. If it is not allowed on this forum to recommend these brokers please email me at [email protected] with subject “ECN/STP brokers”.
Go Markets Australia
  • #12
  • Mar 1, 2011 4:41am Mar 1, 2011 4:41am
In case of Australian OTC FX brokers going bankrupt you become a unsecured creditor
Check any brokers PDS
May be better off with the LMAX UK based FX exchange or US regulated!
  • #13
  • Mar 1, 2011 7:54am Mar 1, 2011 7:54am
I am basically looking for the same requirements if someone can help:

Accepts US customer
Hedging allowed
No FIFO restrictions
Min Lot = .1 or .01 is even better
MT4 platform
Acct may be denominated in multiple currencies (as long as I don't have to use the US dollar then I am happy).

I've tried FXPro but execution was bad. I am currently using IBFX but I would like to get a bigger account with a safer broker. It looks life FinFX might have some promise (and I can use cashbackforex for an IB).
  • #14
  • Mar 1, 2011 9:02am Mar 1, 2011 9:02am
Quoting newark18
I am basically looking for the same requirements if someone can help:

Accepts US customer
Hedging allowed
No FIFO restrictions
Min Lot = .1 or .01 is even better
MT4 platform
Acct may be denominated in multiple currencies (as long as I don't have to use the US dollar then I am happy).

I've tried FXPro but execution was bad. I am currently using IBFX but I would like to get a bigger account with a safer broker. It looks life FinFX might have some promise (and I can use cashbackforex for an IB).
your stuck with u.s. broker in that case try citifx
  • #15
  • Mar 1, 2011 9:20am Mar 1, 2011 9:20am
Quoting PoundTrader
your stuck with u.s. broker in that case try citifx
Can you explain why you say that I am stuck with US broker? I have an acct with Dukascopy and IBFX.
  • #16
  • Mar 1, 2011 11:38am Mar 1, 2011 11:38am
Quoting Aja
MBTrading (ECN) has MT4, Oanda has MT4, ATC Brokers (ECN) has MT4.
Oanda is NOT an ECN/STP broker. They are a Market Maker but states that they have no incentive to trade against clients because they hedge the net client positions with another counterparty.

Just so you know
Make your losses in demo. Earn your profits live.
  • #17
  • Edited 3:49pm Mar 1, 2011 11:44am | Edited 3:49pm
Quoting St.Sarah
NordFX should be right for you.

I haven't used it personally (i am still demoing) , but friend who brought me here uses it
Except if you want to use their MT-ECN account, the min. deposit is $1,000. For $250, you can only get their standard micro account.

Oakmonster is right. For ECN accounts, you need AT LEAST $1,000 with average of $5,000 being the norm. Frankly, if you can't even spare $1,000 to trade, then FX is not really right for you as you won't have enough to cushion losses which you are guaranteed to incur during your trading career. Not trying to discourage you but that's just the reality.
Make your losses in demo. Earn your profits live.
  • #18
  • Mar 1, 2011 9:27pm Mar 1, 2011 9:27pm
Quoting newark18
I am basically looking for the same requirements if someone can help:

Accepts US customer
Hedging allowed
No FIFO restrictions
Min Lot = .1 or .01 is even better
MT4 platform
Acct may be denominated in multiple currencies (as long as I don't have to use the US dollar then I am happy).

I've tried FXPro but execution was bad. I am currently using IBFX but I would like to get a bigger account with a safer broker. It looks life FinFX might have some promise (and I can use cashbackforex for an IB).
In the US you need to stick with a CFTC registered broker. Soon enough the CFTC is going to stomp on any foreign broker not registered with them. If they can't successfully sue the company, they can pull strings overseas as they have agreements with regulators worldwide and make life difficult for them.

Until someone successfully challenges the Dodd Frank bill and has it changed, you should probably just comply in order to save yourself from headaches down the line.
  • #19
  • Mar 1, 2011 9:48pm Mar 1, 2011 9:48pm
Quoting Forexia
Oanda is NOT an ECN/STP broker. They are a Market Maker but states that they have no incentive to trade against clients because they hedge the net client positions with another counterparty. Just so you know
I know they say that "they have no incentive to trade agaist clients" but don't all market makers say the same thing? And it's mostly false because market makers make their profits from clients losses, that how their business model works.
  • #20
  • Mar 1, 2011 11:43pm Mar 1, 2011 11:43pm
Quoting PipStar
I know they say that "they have no incentive to trade agaist clients" but don't all market makers say the same thing? And it's mostly false because market makers make their profits from clients losses, that how their business model works.
Well I don't know about what other MM's do but Oanda REALLY emphasizes that they really hedge their net client positions with counterparties so they don't profit from taking the other side of client positions. But Oanda still is an MM and NOT an ECN/STP broker.

That's all I know.
Make your losses in demo. Earn your profits live.
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