ECN with possibility to buy on the BID and sell on the ASK | Forex Factory

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ECN with possibility to buy on the BID and sell on the ASK

  • #1
  • First Post: Dec 1, 2011 5:05am Dec 1, 2011 5:05am
In the past six years I was trading with Currenex & Ducascopy, and now I am trading on Marex Black.

The problem with all those ECNs is that you can't place your limit buy order in the way that you are best BID, or limit sell order that you are best ASK.
In other words, if market quote for EUR/USD is 1.3301/1.3303, and I submit my buy order @ 1.3302, I won't become best BID, and the price will remain @ 1.3301/1.3303.
So my limit buy @ 1.3302 will be filled only when quote moves down for 1 pip.

They are not working like stock exchanges where you can place your BID, and become the best BID on the market and get filled when someone sells through market order.

So my question is.
Is there any ECN broker that is working like stock exchange, and with possibility to place order in the way to become best BID/ASK.
  • #2
  • Dec 1, 2011 7:11am Dec 1, 2011 7:11am
You can try Lmaxtrader.co.uk, for a kind of market depth entry system similar to the DOM in Futures.

As an alternative you can go to the Orderbookfx.com website and ask them if they know if such a possibility - as you describe - exists for the retail trader.

It all depends on your capital account size.

Other alternatives ( requiring even higher minimum accounts ) are the eforex divisions of BNP Paribas or Credit Suisse.

If this IS so important to you I would probably simply trade FX Futures on the CME ( or their Micro-equivalents ), the FX Futures diversity has now been improved also by the new ICE Exchange Currency Futures.

Good luck !
Be like water.
  • #3
  • Dec 1, 2011 8:24am Dec 1, 2011 8:24am
With Dukascopy you can place bid or offer, that is become the best bid or ask.
  • #4
  • Dec 2, 2011 7:10pm Dec 2, 2011 7:10pm
What you are asking is for a negative spread fill which is possible on a real ECN like FXOpen's. I've seen it happen with my own eyes on a market order. Granted it was only a 0.3 pip negative spread, but it was there all the same
  • #5
  • Dec 3, 2011 1:00am Dec 3, 2011 1:00am
MB Trading uses an ECN by TDFX and does this...

Sometimes you only get partial fills though, if you tighten the spread with your limit order but only a small market order hits you before the market moves away from that price level..

As well, they pay you for limit orders that fill.. (on their "pay for limits" account)
FXGears.com
  • #6
  • Dec 16, 2011 7:20am Dec 16, 2011 7:20am
Hello forexshark,
Hope you doing good and well.
I assume you are one of the professional in forexfactory as well.

I wanted you kind advises please.

I am exploring some ECN brokers, kindly in touch with LCG, Marex etc..

Do you know any good ECN broker that would accept 25K.
I think Marex required 100K to be deposited.

Please confirm if you did also deposit with them such amount, or its just they ask clients first time this, though its negotiable ?

Are you happy with Marex? In terms of market depth, pricing etc..?

Please be in touch, so we can explore and share ideas too

I am currently in process of buying some monitors etc, to make a full-flesh 6-8 monitor trading room .. surely will share some pics.

I look for your kind advises soon please.. appreciated.

Quoting forexshark
In the past six years I was trading with Currenex & Ducascopy, and now I am trading on Marex Black.

The problem with all those ECNs is that you can't place your limit buy order in the way that you are best BID, or limit sell order that you are best ASK.
In other words, if market quote for EUR/USD is 1.3301/1.3303, and I submit my buy order @ 1.3302, I won't become best BID, and the price will remain @ 1.3301/1.3303.
So my limit buy @ 1.3302 will be filled only when quote moves down for 1 pip.

They are not working like stock exchanges where...
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #7
  • Dec 16, 2011 2:33pm Dec 16, 2011 2:33pm
Quoting aviz12
Hello forexshark,
Hope you doing good and well.
I assume you are one of the professional in forexfactory as well.

I wanted you kind advises please.

I am exploring some ECN brokers, kindly in touch with LCG, Marex etc..

Do you know any good ECN broker that would accept 25K.
I think Marex required 100K to be deposited.

Please confirm if you did also deposit with them such amount, or its just they ask clients first time this, though its negotiable ?

Are you happy with Marex? In terms of market depth, pricing etc..?

Please be in touch, so...
I have just been doing early research, but I have found MB Trading to allow that deposit and works like this with Bid and Ask with Limit orders.
  • #8
  • Last Post: Dec 18, 2011 5:12pm Dec 18, 2011 5:12pm
How is trading going with MArex Black?
What minimum deposit they took ?

I was checking but there liquidity was not that strong..

Quoting forexshark
In the past six years I was trading with Currenex & Ducascopy, and now I am trading on Marex Black.

The problem with all those ECNs is that you can't place your limit buy order in the way that you are best BID, or limit sell order that you are best ASK.
In other words, if market quote for EUR/USD is 1.3301/1.3303, and I submit my buy order @ 1.3302, I won't become best BID, and the price will remain @ 1.3301/1.3303.
So my limit buy @ 1.3302 will be filled only when quote moves down for 1 pip.

They are not working like stock exchanges where...
Classical chart patterns of currencies from 15+ Year Pro Trader
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