Reliable ECN access which can't markup price | Forex Factory

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Reliable ECN access which can't markup price

  • #1
  • First Post: Edited 7:56pm May 8, 2013 7:34pm | Edited 7:56pm
A lots brokers offer ECN/STP access now. Many of them are using MT4+bridge which can markup quotes and trade directly with the trading desk (danger situation , even a huge spike kill your account).

It seems EBS, Currenex, fxall, cTrader should be reliable. Interactivebroker, Dukascopy, Lmax which have run long enough are ok too.
  • #2
  • Edited May 9, 2013 4:07pm May 8, 2013 9:30pm | Edited May 9, 2013 4:07pm
FXOpen AU quotes real bids and offers on the market without a markup. This is reflected in our stellar performance on any third party real time spread monitor including here on FF. http://www.forexfactory.com/brokers.php#spreads
  • #3
  • May 8, 2013 9:38pm May 8, 2013 9:38pm
Quoting good mind
A lots brokers offer ECN/STP access now. Many of them are using MT4+bridge which can markup quotes and trade directly with the trading desk (danger situation , even a huge spike kill your account). It seems EBS, Currenex, fxall, cTrader should be reliable. Interactivebroker, Dukascopy, Lmax which have run long enough are ok too.
Lets just say all brokers charge commission or markup to cover their costs..
Even if you deal directly with a bank they have a markup.

I cant see your point here?
  • #4
  • May 11, 2013 12:19am May 11, 2013 12:19am
Quoting lasty
{quote} Lets just say all brokers charge commission or markup to cover their costs.. Even if you deal directly with a bank they have a markup. I cant see your point here?
Not all brokers have a markup. IC Markets and FXOpen AU don't have markups. You can compare the spreads on live accounts with other ECN brokers side-by-side.
No longer trading forex. Looking for full time job.
  • #5
  • May 11, 2013 2:45am May 11, 2013 2:45am
jafar,
I know fxopen granted FSA license.
But fxopen uk haven`t their homepage.
How can i open account via fxopen uk?
bye.

Quoting FXOjafar
FXOpen AU quotes real bids and offers on the market without a markup. This is reflected in our stellar performance on any third party real time spread monitor including here on FF. http://www.forexfactory.com/brokers.php#spreads
  • #6
  • May 11, 2013 3:44am May 11, 2013 3:44am
Quoting entheos
jafar, I know fxopen granted FSA license. But fxopen uk haven`t their homepage. How can i open account via fxopen uk? bye. {quote}
I spoke with their Director recently. They are still getting set up so you can't open an account with them yet, but they are exited about the future. I wish them all the best.
  • #7
  • May 11, 2013 8:34pm May 11, 2013 8:34pm
globalprime actually raised an interesting point i missed. basically a true ecn can have spreads as low as 0 or even -0.3 for icmarkets case which shows absolutely no spread buffs. now, globalprime's website state that they up the spread by 0.1 pips so as to cover operational costs, which i find really strange after all they are making money off of commission. with this said, i would consider any broker whose spreads cannot go as low as 0.0 pips to have buffed them. this is such as axitrader and pepperstone as well with their minimum spread at 0.1 pips. now, the other possibility is that they simply don't have the most "efficient" liquidity providers and can't provide as good of a liquidity.

with that said, for fxopenau, i didn't find the spread info on their page, but apparently a third party states that their spread goes as low as 0pips, which is a good sign that they aren't buffing/ manipulating spreads. however, with that said, don't get the idea that you are going to trade with a 0 pip spread most of the time because the key words are "as low as" so this means that only during the most active sessions will you be lucky enough to possibly experience this, it is best to look at the average spread conditions.
  • #8
  • May 11, 2013 8:37pm May 11, 2013 8:37pm
oh and one more thing, don't expect mt4 bridges in the future, two articles you should read:

http://forexmagnates.com/3rd-party-d...uotes-re-acts/

http://forexnewsnow.com/forex-broker...ea-developers/
  • #9
  • May 11, 2013 10:10pm May 11, 2013 10:10pm
Quoting jhehe
oh and one more thing, don't expect mt4 bridges in the future, two articles you should read: http://forexmagnates.com/3rd-party-d...uotes-re-acts/ http://forexnewsnow.com/forex-broker...ea-developers/
That's unfortunately true for add ons. One of MT4's strengths has been the availability of 3rd party addons and indicators. However for bridges, there is really nothing Metaquotes can do about them. I don't know about others but in the case of FXOpen AU, our bridge is separate to MT4 making MT4 just a frontend. None of the execution of trades happens in the MT4 system. MT4 just lets you see what you are doing like a window into the soul of the broker.
  • #10
  • May 11, 2013 11:04pm May 11, 2013 11:04pm
Quoting FXOjafar
{quote} That's unfortunately true for add ons. One of MT4's strengths has been the availability of 3rd party addons and indicators. However for bridges, there is really nothing Metaquotes can do about them. I don't know about others but in the case of FXOpen AU, our bridge is separate to MT4 making MT4 just a frontend. None of the execution of trades happens in the MT4 system. MT4 just lets you see what you are doing like a window into the soul of the broker.
i really don't care about metatrader anymore...considering dumping it and going for cTrader. First it's this, next time its going to be something else. the other issue i've noticed with them is that they don't seem to handle 5 digit quoting very well...horrible in fact and this is a huge downer for ecn brokers.
  • #11
  • May 11, 2013 11:36pm May 11, 2013 11:36pm
Quoting jhehe
{quote} the other issue i've noticed with them is that they don't seem to handle 5 digit quoting very well...horrible in fact and this is a huge downer for ecn brokers.
That may be true if trades are executed in the MT4 system as in a broker without a bridge to ECN. Thankfully we don't have that problem
  • #12
  • Edited 9:58am May 12, 2013 12:36am | Edited 9:58am
Quoting jhehe
oh and one more thing, don't expect mt4 bridges in the future, two articles you should read: http://forexmagnates.com/3rd-party-d...uotes-re-acts/ http://forexnewsnow.com/forex-broker...ea-developers/
Does this mean that all the EAs and scripts that I use in the experts folder will stop working on Monday? I need these to close-all, delete-pending, change-stoploss, order-send-order, scale-in, scale-out, and many other routine tasks that I drag-and-drop onto chart window to execute.

Everything will stop working??

Quoting jhehe
nope, not all EAs. only the ECN bridges (one click trading terminals) provided by brokers will be blocked.
I hope you realize that you are using the term "ECN bridges" in the wrong context. 1-click terminal is front-end interface between client and MT4 order entry. ECN bridge is back-end interface between broker and liquidity providers.
No longer trading forex. Looking for full time job.
  • #13
  • May 12, 2013 12:40am May 12, 2013 12:40am
Quoting mmaker
{quote} Does this mean that all the EAs and scripts that I use in the experts folder will stop working on Monday? I need these to close-all, delete-pending, change-stoploss, order-send-order, scale-in, scale-out, and many other routine tasks that I drag-and-drop onto chart window to execute. Everything will stop working??
I don't think you have anything to worry about there. As far as I can gather, Metaquotes only has a problem with overlay type addons like one click that use DLLs to come between MT4 and the addons. MQL programmed addons should continue as normal.
  • #14
  • Last Post: May 12, 2013 9:36am May 12, 2013 9:36am
Quoting mmaker
{quote} Does this mean that all the EAs and scripts that I use in the experts folder will stop working on Monday? I need these to close-all, delete-pending, change-stoploss, order-send-order, scale-in, scale-out, and many other routine tasks that I drag-and-drop onto chart window to execute. Everything will stop working??
nope, not all EAs. only the ECN bridges (one click trading terminals) provided by brokers will be blocked. while you're at it, you might as well include any EA that uses dll files because MQ is really cracking down on those. for the time being, you are safe until Aug 1, until then, they will require you to update your terminal to build 500 (499 in some cases) and then there will be no more support.
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