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Singapore Maybank Kim Eng real ECN?

  • #1
  • First Post: Jul 11, 2015 12:12am Jul 11, 2015 12:12am
hello, anyone using Singapore Maybank Kim Eng broker? is that real ECN broker? They always widen the spread 60++ pips or more, currently USDCAD 61.3pips, USDCHF 73.3pips, NZDUSD 49.3pips and other pairs also more than 40pips spread.


how to make sure they are real ECN broker with real spread please?
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  • #2
  • Jul 13, 2015 8:30am Jul 13, 2015 8:30am
looks like price is quoted in 5 decimals..so according to your post..we are looking at

USDCAD 6.13pips,
USDCHF 7.33pips,
NZDUSD 4.93pips

This is too high for an ECN brokers...

so definitely... no they are not an ECN broker.
practising coitus interruptus
  • #3
  • Jul 14, 2015 4:34am Jul 14, 2015 4:34am
uob got fx trading as well..personally these are banks. Retail wise getting them to trade is not that wise as big spread etc..
  • #4
  • Jul 16, 2015 9:28am Jul 16, 2015 9:28am
Quoting avibe
looks like price is quoted in 5 decimals..so according to your post..we are looking at USDCAD 6.13pips, USDCHF 7.33pips, NZDUSD 4.93pips This is too high for an ECN brokers... so definitely... no they are not an ECN broker.
Yes this 5 decimal
but based on my chart, the spread are as follow:

USDCAD 61.2pips, (1.26869-1.26257)
USDCHF 73.4pips, (0.94256-0.93522)
NZDUSD 49.4pips (0.67505-0.67011)
  • #5
  • Jul 16, 2015 9:29am Jul 16, 2015 9:29am
Quoting giggsy
uob got fx trading as well..personally these are banks. Retail wise getting them to trade is not that wise as big spread etc..
Any recommended real ECN bank please?
  • #6
  • Edited 11:43am Jul 16, 2015 11:28am | Edited 11:43am
Quoting klhh
hello, anyone using Singapore Maybank Kim Eng broker? is that real ECN broker? They always widen the spread 60++ pips or more, currently USDCAD 61.3pips, USDCHF 73.3pips, NZDUSD 49.3pips and other pairs also more than 40pips spread. how to make sure they are real ECN broker with real spread please? {image}
A quick way to test to see if the broker is a true ECN is try to place a limit order in between the current bid/ask spread AND to see 1) if your order shows up and 2) if your order actually reduces the bid/ask spread. If it does both, then congratulations!! you are using a true ECN broker if not, then you are using either an Oanda (a market maker that hedges your trades) or a casino (a market maker that does NOT hedge against your trades and is trading against you) or a scam (will take your money and disappear and you will never hear from them ever again)

But unfortunately you won't be able to do this test until you trade live with them. So start with a small trade first.
Make your losses in demo. Earn your profits live.
  • #7
  • Jul 16, 2015 11:31am Jul 16, 2015 11:31am
Quoting klhh
{quote} Any recommended real ECN bank please?
If you want ECN broker, you CANNOT trade with banks. NONE of the banks operate in the ECN business model. In my opinion, they are what I call casino brokers (market makers that trade against you) with unacceptable spread.

If you want true ECN brokers, I would recommend Interactive Brokers, MB Trading, LMAX and Baxter-FX. Those are the only ones that I know that operate in the ECN model at retail level.
Make your losses in demo. Earn your profits live.
  • #8
  • Jul 17, 2015 3:35am Jul 17, 2015 3:35am
Quoting Forexia
{quote} If you want ECN broker, you CANNOT trade with banks. NONE of the banks operate in the ECN business model. In my opinion, they are what I call casino brokers (market makers that trade against you) with unacceptable spread. If you want true ECN brokers, I would recommend Interactive Brokers, MB Trading, LMAX and Baxter-FX. Those are the only ones that I know that operate in the ECN model at retail level.
TQ for you reply, how much maximum spread the true ECN brokers (as you stated above) offer during news and normal time please?
  • #9
  • Jul 17, 2015 6:59am Jul 17, 2015 6:59am
Quoting klhh
{quote} TQ for you reply, how much maximum spread the true ECN brokers (as you stated above) offer during news and normal time please?
Well I have only traded with IB so I won't be able to comment on the other true ECN brokers. When I was trading with IB,

During normal trading time:

E/U, U/J, A/U, NZ/U : 1 pip

U/C: 2-3 pips

GB/U: 4 pips

During NFP time:

All currencies: 10 pips at least but it only lasts few seconds.
Make your losses in demo. Earn your profits live.
  • #10
  • Jul 17, 2015 8:37am Jul 17, 2015 8:37am
FXOPEN ECN
practising coitus interruptus
  • #11
  • Jul 18, 2015 12:34pm Jul 18, 2015 12:34pm
Quoting Forexia
{quote} Well I have only traded with IB so I won't be able to comment on the other true ECN brokers. When I was trading with IB, During normal trading time: E/U, U/J, A/U, NZ/U : 1 pip U/C: 2-3 pips GB/U: 4 pips During NFP time: All currencies: 10 pips at least but it only lasts few seconds.
Hi,forexia
major symbols 1pip,
Do you not think wide?
it is not 0.1pip?
IB,
what is min. trade size?
what is min. deposit?
i can't find on their site.
thank you.
  • #12
  • Jul 18, 2015 12:36pm Jul 18, 2015 12:36pm
Quoting avibe
FXOPEN ECN
check my post on fxopenuk thread.
  • #13
  • Jul 18, 2015 1:18pm Jul 18, 2015 1:18pm
Quoting entheos
{quote} Hi,forexia major symbols 1pip, Do you not think wide? it is not 0.1pip? IB, what is min. trade size? what is min. deposit? i can't find on their site. thank you.
IB's trade size: $25K

https://www.interactivebrokers.com/e...xOrderSize.php

Min. deposit size: $10K

https://www.interactivebrokers.com/en/index.php?f=4969

They are all posted on their site.

1 pip for majors is too wide. IB's spread is 0.5 pip for all orders although you can have the quote to display up to 0.1 pip precision.
Make your losses in demo. Earn your profits live.
  • #14
  • Jul 22, 2015 8:46am Jul 22, 2015 8:46am
Quoting Forexia
{quote} IB's trade size: $25K https://www.interactivebrokers.com/e...xOrderSize.php Min. deposit size: $10K https://www.interactivebrokers.com/en/index.php?f=4969 They are all posted on their site. 1 pip for majors is too wide. IB's spread is 0.5 pip for all orders although you can have the quote to display up to 0.1 pip precision.
TQVM for your valuable comment:

IB MT4 also true ECN?
  • #15
  • Jul 22, 2015 8:47am Jul 22, 2015 8:47am
Quoting avibe
FXOPEN ECN
Hello avibe, are you using FXopen true ECN? any comment pls?
  • #16
  • Jul 22, 2015 12:26pm Jul 22, 2015 12:26pm
Quoting klhh
{quote} TQVM for your valuable comment: IB MT4 also true ECN?
IB does NOT really offer trading on MT4. What it does offer is an API bridge for you to connect to MT4 should you absolutely want to use MT4 as your platform but you will still be using IB as the broker for the execution of all your trades so in essence you are still using IB and since IB is a truer ECN than others so yes you can say IB MT4 is this sense is a true ECN.

But mind you this MT4 bridge is VERY expensive so I have heard and I personally have NEVER used it when I was trading with IB.
Make your losses in demo. Earn your profits live.
  • #17
  • Jul 24, 2015 7:58am Jul 24, 2015 7:58am
Quoting Forexia
{quote} IB does NOT really offer trading on MT4. What it does offer is an API bridge for you to connect to MT4 should you absolutely want to use MT4 as your platform but you will still be using IB as the broker for the execution of all your trades so in essence you are still using IB and since IB is a truer ECN than others so yes you can say IB MT4 is this sense is a true ECN. But mind you this MT4 bridge is VERY expensive so I have heard and I personally have NEVER used it when I was trading with IB.
Normally so-called ECN broker widen the spread during market closed on weekend, there are up to 60-70pips, how about IB please?
  • #18
  • Jul 24, 2015 8:24am Jul 24, 2015 8:24am
You can try 100forexbrokers.com to search for different kinds of brokers.
  • #19
  • Jul 24, 2015 11:06am Jul 24, 2015 11:06am
Quoting klhh
{quote} Normally so-called ECN broker widen the spread during market closed on weekend, there are up to 60-70pips, how about IB please?
That I wouldn't know as I have never held positions over the weekend when I was with them. You would have to inquire with IB to find out.
Make your losses in demo. Earn your profits live.
  • #20
  • Jul 30, 2015 2:30pm Jul 30, 2015 2:30pm
Quoting Forexia
{quote} If you want ECN broker, you CANNOT trade with banks. NONE of the banks operate in the ECN business model. In my opinion, they are what I call casino brokers (market makers that trade against you) with unacceptable spread. If you want true ECN brokers, I would recommend Interactive Brokers, MB Trading, LMAX and Baxter-FX. Those are the only ones that I know that operate in the ECN model at retail level.
ty mr. super forexia! i am very interested with your recomm broker, but those broker required a very huge amount [10.000usd] to deposit since am student. do you hv another recomm for 2000-3000 usd please. ty
ya Rabbi sholli ala Muhammad
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