any live ECN traders out there? | Page 2 | Forex Factory

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any live ECN traders out there?

  • #21
  • Jul 30, 2006 2:12pm Jul 30, 2006 2:12pm
Quoting sknk
highway,

i'll give dukascopy a run as well. but i firmly believe that different platforms appeal to different people. what i like you might find unbearable and vice versa. so do give it a whirl yourself as well.

lol that'll be 4 demos running at the same time :|

my porn torrents are gonna take ages now

Thanks Sknk,

Would like to know what is the other 2 demo platforms too if possible. I am sure all members will be impatiently waiting for your comparaison report. Not much informations are available concerning ECN brokers.
Thanks in advance.
Highway
  • #22
  • Jul 30, 2006 2:28pm Jul 30, 2006 2:28pm
no worries highway.

the other ones are coesfx and hotspotfx.

i'm quite liking hotspot, and mb's level 2 appears to run deeper than coesfx's.

just downloaded dukascopy as well so i'll probably post something at the end of the week. ( do remind me if i forget )

fxopportunist: actually getting out during data if its going against you shouldbe fairly easy within the first few seconds if its going against you.

eg: say the price is x

data comes out, x goes up but youre short x.
so you want to exit ie buy to close your position.
if by that time the price is x+35 you could theoretically place an offer for x+30 or lower maybe even BE.
i suppose it would befilled if someone thought your price wouldnt stay there after they bought from you.

umm emphasis on "theoretically", cos i suppose thats what they mean when they say make your own spread.


buuuut then again, i could be completely wrong
  • #23
  • Jul 30, 2006 2:30pm Jul 30, 2006 2:30pm
I trade with MB Trader (ECN) and am well pleased with all aspects of their platform. No problems getting filled. It is nice to actully see the market via level II. Very nice to see 1 pip spreads as volume dictates. Customer service has been very responsive. I'm a happier trader.
  • #24
  • Jul 30, 2006 2:49pm Jul 30, 2006 2:49pm
[quote=sknk]no worries highway.

the other ones are coesfx and hotspotfx.

i'm quite liking hotspot, and mb's level 2 appears to run deeper than coesfx's.


Thanks.
Hotspotfx is on the top of my list among ECN right now

Highway
  • #25
  • Jul 30, 2006 2:51pm Jul 30, 2006 2:51pm
Quoting FXopportunist
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Junior Member
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"I have used MB Trading's demo account. I can't get filled during news times. I have used stop orders and stop limit orders and basically NEVER got filled during news times. Does anyone else have this problem?"
<!-- / message -->
Wow, if they don't fill you during data, that also means you can't get out during data if it goes against your position!!!!
That could get really expensive really fast!!!!
Why would anyone put themselves in that position????
This is only a demo account, but I am not getting filled at the stop price at all. When I put in a stop limit, I am not filled at the stop either. I have never been filled at the price I put in at the stop during news times. Maybe it is just the demo, but I have talked to their customer service several times and they told me that their demo and live is pretty similar. This is why I am hesitating on opening a live account with them. I have heard of and experienced fills on my stops that were perfect fills with other trading brokerages during news times. MB Trading doesn't fill my stops during news. I better clarify with what I am saying because it may be misunderstood. When I say they don't fill my stops at the price I enter I mean for example, I put in a stop buy order at 1.8345 right before news release and I expect to be filled at 1.8345. What happens with MB is the price passes over my order and in the order section it says live next to the order, but it wasn't filled. It may get filled, but at 1.8365 or something, which decreases the chances of a successful trade. What do others do during news times to get your order filled with MB Trading?
  • #26
  • Jul 30, 2006 4:55pm Jul 30, 2006 4:55pm
Quoting nd1377
This is only a demo account, but I am not getting filled at the stop price at all. When I put in a stop limit, I am not filled at the stop either. I have never been filled at the price I put in at the stop during news times. Maybe it is just the demo, but I have talked to their customer service several times and they told me that their demo and live is pretty similar. This is why I am hesitating on opening a live account with them. I have heard of and experienced fills on my stops that were perfect fills with other trading brokerages during news times. MB Trading doesn't fill my stops during news. I better clarify with what I am saying because it may be misunderstood. When I say they don't fill my stops at the price I enter I mean for example, I put in a stop buy order at 1.8345 right before news release and I expect to be filled at 1.8345. What happens with MB is the price passes over my order and in the order section it says live next to the order, but it wasn't filled. It may get filled, but at 1.8365 or something, which decreases the chances of a successful trade. What do others do during news times to get your order filled with MB Trading?
cancel the order then close with market order
If I Go Broke Trying Then I Will die happy.
  • #27
  • Jul 30, 2006 5:09pm Jul 30, 2006 5:09pm
Quoting highway3000
Hi,
Since you are already on it, could you also do a demo with Dukascopy and tell us about them. It seems you can hedge with them. Seems each trade is independantly opened and closed separately. I would like to know how it fairs.
Thanks
Highway

I used the dukascopy demo for a long time about 1 year ago. I didn't like the platform. But the reason i didn't open an account with dukascopy, altough it was at the top of my candidate forex brokers, was that i saw clear "stop fishing" action on their price feed. Then i've read complaints from other users, so i put dukascopy in my scum list. This doesn't mean it must be scum, but only that my very personal experience was negative.

I don't know if it is better now. In the meantime i also learned not to trust swiss brokers very much. One could think they're more regulated but in reality it is just the opposite.
  • #28
  • Jul 30, 2006 5:16pm Jul 30, 2006 5:16pm
Hi guys, take a look at Propfx, they are also an ecn broker with about 14 banks feeding the platform, its based on currenex which is what the banks use i'm told. I'm running a demo on it right now, ultra fast and the platform is slick, set up for an active aggressive trader, it quite a good tool. The level 2 look has amazing depth to it, at least 5 or more price levels per side per pair on the majors, with size.

I've been told by then that if you can see it, and click on it, you get the fill, since your trade is directly with another bank.

Min trade size is 50K, 10K to open the account. 100 or 200:1 margin....

hope u like it
vince
  • #29
  • Jul 30, 2006 5:30pm Jul 30, 2006 5:30pm
how does propfx behave during news?
  • #30
  • Jul 30, 2006 6:01pm Jul 30, 2006 6:01pm
I now trade professionally with MB. It's my career. I can go with any ECN out there but like MB.
Never had a problem. I don't like to but have traded the news without ever a problem. I trade cable - commission is fine and sometimes trade with no spread but usually no more than 1-2 pips MAX including news time.


Quoting nd1377
I have used MB Trading's demo account. I can't get filled during news times. I have used stop orders and stop limit orders and basically NEVER got filled during news times. Does anyone else have this problem?
  • #31
  • Jul 30, 2006 6:14pm Jul 30, 2006 6:14pm
Are you able to get in before the spike (during news releases) on various ECN's such as MB and HotspotFX ?
  • #32
  • Jul 30, 2006 6:17pm Jul 30, 2006 6:17pm
aside from mbtrading and propfx and coesfx, are there any other ECNs that allow 100:1 leverage?
  • #33
  • Jul 30, 2006 7:27pm Jul 30, 2006 7:27pm
Quoting ycomp
aside from mbtrading and propfx and coesfx, are there any other ECNs that allow 100:1 leverage?
mb and propfx or the only ones i think coesfx offers 50:1 leverage.
If I Go Broke Trying Then I Will die happy.
  • #34
  • Jul 30, 2006 7:40pm Jul 30, 2006 7:40pm
I'm confused... coesfx says they offer 50:1 in the FAQ, but 100:1 on their accounts page... maybe they didn't clean up their FAQ yet.

http://www.coesfx.com/account.aspx
  • #35
  • Jul 30, 2006 7:55pm Jul 30, 2006 7:55pm
Quoting ycomp
I'm confused... coesfx says they offer 50:1 in the FAQ, but 100:1 on their accounts page... maybe they didn't clean up their FAQ yet.

http://www.coesfx.com/account.aspx
i also can't find the withdrwal request form on coesfx.
If I Go Broke Trying Then I Will die happy.
  • #36
  • Jul 31, 2006 4:33am Jul 31, 2006 4:33am
hmmm neither can i :|
  • #37
  • Jul 31, 2006 5:19am Jul 31, 2006 5:19am
Quoting highway3000
Hi,
Since you are already on it, could you also do a demo with Dukascopy and tell us about them. It seems you can hedge with them. Seems each trade is independantly opened and closed separately. I would like to know how it fairs.
Thanks
Highway
Being able to open and close trades seperately is a must as far as I am concerned when choosing a broker. This is where MB falls short.

Funny though how this post was started and most of the replies are about MB trading.
  • #38
  • Jul 31, 2006 6:02am Jul 31, 2006 6:02am
true that is quite odd

MB's marketing department would be happy lol.

hey if anyone form MB's reading this, how's about some incentives for starting this thread eh? hehehe.

then again its not too surprising since they did win barrons 06 platform award, but i think that was for their equities thing, which isnt too different from their forex thing.

i was and am still hoping to hear from users of other platforms tho.

pipstar, youre absolutely right, and thats my major concern with ecn's due to the nature of how they function. whether its called slippage byt the non-ecn broker or a price jump by the ecn its essentially the same thing.

have you tried any of the others?
  • #39
  • Aug 1, 2006 4:22am Aug 1, 2006 4:22am
I am soon to demo some others namely Coesfx, Hotspot and Prop FX.
Some of these ECN's have reduced the minimum deposit required to open an account.
  • #40
  • Aug 1, 2006 11:02am Aug 1, 2006 11:02am
do all ECNs combine all your positions for a pair into one "average position"?

which ECNs allow you to manage positions individually?
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