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Any ECN broker reliable?

  • #21
  • Nov 26, 2011 7:37am Nov 26, 2011 7:37am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting AlejandroFX
[font=&quot][color=black]Many FX broker claim to be an ECN broker, but many of them are just using this title without really implement its meaning. In order to figure out if a broker is a real ECN you have to have some experience with both ECN & market makers. The most important thing when you are trying to understand if it is an ECN or not, is the performance. If the spreads are low (but not constant), you almost don't get re-quotes and the speed of the execution is faster than usual, than there is a better probability that it is a real ECN broker....
Plz be more specific about your Alpari acc. . Is it Alpari UK and what acc. type did u choose?
I'm asking bc Alpari UK is one of the worst marketmakers/ bucketshops on earth...
  • #22
  • Nov 26, 2011 8:21am Nov 26, 2011 8:21am
Quoting Jfk
http://www.lmaxtrader.co.uk/

Excellent spreads. Low margin requirements. FSA regulated and segregated trust account. JPM fx counterparty. Free api's. Low commissions. STP order processing and lightning fast on a true ECN.
As a second choice I'd go with MBTrading. You can use Multicharts DT (free). Commissions are a bit higher than LMAX ('pay for limits' could lower this) but it's only 400 min account. Why not try out the demo with Multicharts DT?
  • #23
  • Nov 26, 2011 9:26pm Nov 26, 2011 9:26pm
I use this setup and find it to be a very good combo.

Quoting Jfk
As a second choice I'd go with MBTrading. You can use Multicharts DT (free). Commissions are a bit higher than LMAX ('pay for limits' could lower this) but it's only 400 min account. Why not try out the demo with Multicharts DT?
It's easy to be humbled but hard to be humble.
  • #24
  • Nov 27, 2011 1:09am Nov 27, 2011 1:09am
Quoting cugir321
Execution speed is average. Slippage is both ways, for and against you, so it's fair. No other B.S.

They do have a minumum to open an account....I believe it's 2500.00. I opened with more so you'll have to check. There are commission's. It's till cheaper then market makers. E/u is about 1.1 spread.

If you're using a market maker you should be happy switching.
Pfg has different price feeds ... are you using MT4?
I use NT7 and it is fast and reliable. Spreads are low but there is also a commission.
  • #25
  • Nov 27, 2011 5:23am Nov 27, 2011 5:23am
Quoting klhh
Hello JeremyWS, thanks for your comments.


When I asked Instaforex livechat, the operator was very sure to tell me that Instaforex is ECN broker. How do you think?

I did ask Oanda, but they do not accept hedging.
You can hedge at oanda as they allow you to open sub-accounts. So you can be long eu in one account and short eu in the other. You can have both accounts open on the same PC if you install fxdesktop.

Always baffles me when traders are trading MBT etc just because they are an ECN. Generally the spread is about the same as oanda but add the comm and you are way behind. This will be the case with ALL ecn, stp and dma brokers that let you in with less than 50-100k.

I guess the only exception may be if you use almost all limit orders to enter and exit trades as you can place orders inside the spread and some ecn brokers will pay you to place limit orders.
  • #26
  • Nov 27, 2011 7:08am Nov 27, 2011 7:08am
As long as they don't play the spike problem (spiking higher then the ecn's...many market makers do this. I have a post on this site that proves it with jpg's...not oanda), the shut down problem (shutting the system down for a few minutes just before a major event...there's a very well known market maker that does this practically everyday), the spread thing (ecn's can have little widening during news), the delay problem(15 seconds or more to close out an order or a very long requote). Download a demo ecn and run it with the other broker next to it. This usually gives away the games during a few weeks of comparing. I can trade my ecn during news. No crazy spread! The limit thing is a given. If you scalp...you may have problems getting in on a good break with a non ecn. You'll find it out after you wait for hours and try to get in.

Quoting Agro
You can hedge at oanda as they allow you to open sub-accounts. So you can be long eu in one account and short eu in the other. You can have both accounts open on the same PC if you install fxdesktop.

Always baffles me when traders are trading MBT etc just because they are an ECN. Generally the spread is about the same as oanda but add the comm and you are way behind. This will be the case with ALL ecn, stp and dma brokers that let you in with less than 50-100k.

I guess the only exception may be if you use almost all limit orders to enter and...
  • #27
  • Nov 27, 2011 7:13am Nov 27, 2011 7:13am
Quoting fido
Pfg has different price feeds ... are you using MT4?
I use NT7 and it is fast and reliable. Spreads are low but there is also a commission.
Yes I am using MT4...that's a good point. I hear it's faster....I'm fine with the speed of their MT4. I should have mentioned that.
  • #28
  • Last Post: Nov 27, 2011 7:30am Nov 27, 2011 7:30am
Quoting fxrising
I use this setup and find it to be a very good combo.
fxrising, do MB pay rebates on buy/bid and sell/ask? How are you finding the backfill data quality in MC? Thanks

jfk
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