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Low Spread ECN/STP Broker

  • #1
  • First Post: Oct 22, 2011 9:50am Oct 22, 2011 9:50am
Hi All,

I am looking for a Broker with spreads less than 2 on EURGBP, GBPCHF, EURCHF etc.

I am not a very big player, so cant really go with professional/VIP accounts....

Minimum Account size should be 100$ or even better if they allow cent account.

Thanks in advance for helping me in finding a good broker.

Prakash
  • #2
  • Oct 24, 2011 2:30am Oct 24, 2011 2:30am
I have been working with alpari for a year and I am pretty satisfied withboth executions and spreads.
EUR/USD is around 1.6 at alpari and other majors are on the same scale. Few month ago I started trying Sunbird FX demo after reading some good reviews about this broker.
Spreads are pretty much the same as they are in alpari and executions are a bit better. However, this is not a live account so I cannot realy know.. I will probably open a micro account (100$) next month and
will test them on live trading. So far it looks like they are ECN as they say... I promise to update!
  • #3
  • Oct 24, 2011 4:00pm Oct 24, 2011 4:00pm
best spreads and the ONLY real broker...

http://www.lmaxtrader.co.uk/average-spreads
  • #4
  • Oct 25, 2011 7:25am Oct 25, 2011 7:25am
Yes, lamx have very nice and constant spreads. But they have very large commissions for forex. I think there are more ECN brokers with much better conditions in the industry.
  • #5
  • Oct 25, 2011 9:29am Oct 25, 2011 9:29am
Quoting reachjj
Hi All,

I am looking for a Broker with spreads less than 2 on EURGBP, GBPCHF, EURCHF etc.

I am not a very big player, so cant really go with professional/VIP accounts....

Minimum Account size should be 100$ or even better if they allow cent account.

Thanks in advance for helping me in finding a good broker.

Prakash
Its being an year since I have been working with HotForex and I am really much contended with both execution terms and their spreads.
  • #6
  • Nov 4, 2011 10:07am Nov 4, 2011 10:07am
Quoting Cocoflanel
best spreads and the ONLY real broker...

http://www.lmaxtrader.co.uk/average-spreads

They are not offering mt4?
  • #7
  • Dec 31, 2011 10:26am Dec 31, 2011 10:26am
Quoting Cocoflanel
best spreads and the ONLY real broker...

http://www.lmaxtrader.co.uk/average-spreads
one should count total cost(spread+commission)

before proclaiming"the best........"

(lmax is not a charity)

and not to forget about margins

(index cfd margins are out of touch with reality)

for "budget" british traders forex looks ok'ish

but pepperstone and finfx look better
  • #8
  • Jan 11, 2012 3:52am Jan 11, 2012 3:52am
Quoting blazko
They are not offering mt4?
They will have MT4 in the next few months i think
  • #9
  • Jan 15, 2012 4:22am Jan 15, 2012 4:22am
  •  ilove
  • | Joined Dec 2011 | Status: because he first loved us. | 52 Posts
Have a look at deltastock.com. I only have a demo account with them. Their level 2 spreads look really really really impressive because their trading pool is a mix of biggest brokers. I have never seen this model before.

They have been around for many years. Their charts are amount the best.

I never traded with them tho. not sure about execucution with live accounts.
If you can't tell, just wait. The market will.
  • #10
  • Jan 20, 2012 4:59am Jan 20, 2012 4:59am
Low spread? does it exist?
very nice, good price..!
  • #11
  • Jan 21, 2012 9:27pm Jan 21, 2012 9:27pm
I have been using demo account with atc brokers. Their spread seems to very low (eur/usd is less than 1 during high volume trading hours). They are also ECN. Their only drawback is a commission.
  • #12
  • Jan 22, 2012 7:25am Jan 22, 2012 7:25am
Quoting alstural
one should count total cost(spread+commission)

before proclaiming"the best........"

(lmax is not a charity)

and not to forget about margins

(index cfd margins are out of touch with reality)

for "budget" british traders forex looks ok'ish

but pepperstone and finfx look better
ECN ACCOUNT
ECN account form the ultimate trading environment for the more experienced currency trader or company, especially for traders looking to use scalping strategies.
Pricing: 5 decimals
Base currencies for deposit: USD / EUR / CHF
Minimum deposit: 2500 USD / 2000 EUR / 2500 CHF
Spread: Variable spread starting from 0 pips
Minimum trade size: 0.1 lots (10 000), with 0.01 lot increments
Leverage: 1:1 - 1:100
Commission: 7 USD per 1.0 lot round turn
Order type: Market Order
Margin call / Stop out: 150% / 100%
Trading hours:
Monday opening: 0:00 GMT +2 / MetaTrader time
Friday closing: 24:00 GMT +2 / MetaTrader time


The above is the finfx ECN account stats. Very strange that the only orders allowed are 'market orders', as far as I can see. Also, the comms are higher than LMAX by nearly 50%! The deposit requirements are 250% greater. Not really a great alternative. I've not bothered looking at Pepperstone. LMAX exchange is located at the brokerage. You couldn't get a more preferable set-up. A true open order book where execution speed is probabably as fast as you're going to get in the fx world.
  • #13
  • Jan 22, 2012 10:33am Jan 22, 2012 10:33am
Quoting sanny
I personally recommend RVD Markets - they give you a real ECN where all your trades go to bank with no quotes smoothing or anything else. Minimum is $100.
I am a scalper myself and get the best results with them (tried over 10 brokers)
I looked at rvd before but I did not see anything on the site about ecn.. I'll have to go check again. But do they take usa clients?
I remeber the commish was 5 dollars RT and the the leverage was something like 1:1000
  • #14
  • Jan 22, 2012 11:17am Jan 22, 2012 11:17am
Quoting Jfk
[i]ECN ACCOUNT
ECN account form the ultimate trading environment for the more experienced currency trader or company, especially for traders looking to use scalping strategies.
Pricing: 5 decimals
Base currencies for deposit: USD / EUR / CHF
Minimum deposit: 2500 USD / 2000 EUR / 2500 CHF
Spread: Variable spread starting from 0 pips
Minimum trade size: 0.1 lots (10 000), with 0.01 lot increments
Leverage: 1:1 - 1:100
Commission: 7 USD per 1.0 lot round turn
Order type: Market Order
Margin call / Stop out: 150% / 100%
Trading hours:
Monday...
do you want to say that lmax has smaller commissions?

is it correctly understood?
  • #15
  • Jan 22, 2012 12:30pm Jan 22, 2012 12:30pm
Quoting alstural
do you want to say that lmax has smaller commissions?

is it correctly understood?
Yes. LMAX costs are $5 round turn per $100,000 for forex. You pay finfx $7. So, LMAX $2/ $100,000 better off, no?
  • #16
  • Jan 22, 2012 12:41pm Jan 22, 2012 12:41pm
Quoting Jfk
Yes. LMAX costs are $5 round turn per $100,000 for forex. You pay finfx $7. So, LMAX $2/ $100,000 better off, no?
LMax spreads are all over the place:
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  • #17
  • Jan 22, 2012 1:55pm Jan 22, 2012 1:55pm
Quoting rooicol
LMax spreads are all over the place:


rooicol.........!

when i looked at lmax demo

commission was very high comparing to finfx

and when i did some scalping (eur/usd 3-4 pips) big part of profit went to broker

but Jfk claims otherwise

as far as i understand lmax is an exchange (run by broker) and earns only commission

coz spreads can be really small (index cfd sometimes even zero!)

and company must demand hefty reward for it's service

what is your opinion ?
  • #18
  • Jan 22, 2012 2:13pm Jan 22, 2012 2:13pm
Quoting alstural
rooicol.........!

when i looked at lmax demo

commission was very high comparing to finfx

and when i did some scalping (eur/usd 3-4 pips) big part of profit went to broker

but Jfk claims otherwise

as far as i understand lmax is an exchange (run by broker) and earns only commission

coz spreads can be really small (index cfd sometimes even zero!)

and company must demand hefty reward for it's service

what is your opinion ?

Well, in order to be trading for < 1 pip per trade, their spread would need to be < 0.5 pips (if jfk is right about commission change to 0.5, i didn't check that yet), and looking at their chart of spread on their website spread is rarely < 0.5 pips, so my opinion is: Not very competitive
  • #19
  • Jan 22, 2012 2:25pm Jan 22, 2012 2:25pm
Quoting rooicol
Well, in order to be trading for < 1 pip per trade, their spread would need to be < 0.5 pips (if jfk is right about commission change to 0.5, i didn't check that yet), and looking at their chart of spread on their website spread is rarely < 0.5 pips, so my opinion is: Not very competitive

"..........so my opinion is: Not very competitive"

agree

because as far as i remember after 3 pip gain account increase was laughable

and sort of 10-12 euros! went into commission
  • #20
  • Jan 22, 2012 3:21pm Jan 22, 2012 3:21pm
For eur/usd, LMax commission equates to ~0.65 pips. Spread + commission would be between 1.0 to 1.2 pips total most of the time.
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