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True ECN/STP Broker recommendations

  • #101
  • Mar 17, 2016 11:02pm Mar 17, 2016 11:02pm
Quoting pbx06
Stay away from peperstone they dont alow customer to trade against eatch other. ( read the pdf on the site) acording to the customer service they put /direct your trade to a dark pool . where the predatory trading mostly occurs in the dark pools
I just lost it. This is the best post ever.

"The dark pools are where the predatory traders lurk"

bahaha!!
  • #102
  • Mar 18, 2016 3:13pm Mar 18, 2016 3:13pm
Quoting PoundTrader
{quote}go trade futures, ok
one of my verry conservatives accounts if had the luck to follow me on twitter you would be like me trading best 2016 GBP/JPY trades a quick example :
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 282 KB



http://www.forexfactory.com/showthre...73#post8823773


and had nice EA on SPX500: http://www.forexfactory.com/showthread.php?t=583346
  • #103
  • Mar 19, 2016 5:11am Mar 19, 2016 5:11am
Quoting pbx06
{quote} I doesn't make hungry you that your trade wont have a market impact because you are a retail trader ?
This part makes no flipping sense..
  • #104
  • Mar 20, 2016 3:40am Mar 20, 2016 3:40am
Hi,
Anyone using broker who give ECN/STP feed,no mark up of spread, only commission based,who provide maximum leverage only upto 100.1, also no funding by credit card, no bonus or referral thing, no MT4 platform, no mini lot only standard lot size,
If above mentioned condition are met than I think its a true ECN otherwise all goes in bucketshop list.
  • #105
  • Mar 21, 2016 1:52am Mar 21, 2016 1:52am
Why is everybody so obessed with true ecn/stp? There are no real crystal clear 100% true ecn/stp brokers out there. Like, not a single. Even the "truest" are not. That's just the reality of good trading: you either get a true stp-whatever or you get fast execution. I guess everybody wants fast execution and nobody wants to watch their platform frozen and their money disappearing in a minute when they can do nothing abot it. It's as simple as that. Stop worshiping this idol and look for a good and reliable broker. That's it.
  • #106
  • Mar 21, 2016 12:08pm Mar 21, 2016 12:08pm
hi, I m not looking for true ECN,
Just need broker that fit in my above criteria,
As for sometime used 3 MM broker but as usual all that fit in a bucketlist so thought to try ECN one with no perks of MM like 100:1, funding and refferal bonus etc etc,
Hope someone will answe who really have experience with ECN
  • #107
  • May 20, 2016 1:29am May 20, 2016 1:29am
The broker's crookedness comes to the fore when they actively separate you from your money. Knowing this two points arise

 

  1. Trade with mental stops and TP

that way the only thing the broker knows is your entry and size. Currencies trade in ranges most of the time so they will always revert to a mean. Spiking the price against you therefore means nothing if you are still in the game. Spiking it your way may mean a tidy profit. If price moves against you longer term close the bu**er out. If you are trading money you can't afford to lose - well what can I say except that's not the brokers problem !

 

  1. Have several accounts

Because the broker can ban you or make it difficult to withdraw your money, have several accounts and trade small on each of them - stay under the radar

Next question.

  • #108
  • Oct 17, 2016 3:49am Oct 17, 2016 3:49am
Stay away from Global Prime,
-->28 pips spread on GA and constant freezing of servers as soon as the PA on M1 jumped 15 to 20 pips.
How quickly their servers frozen man would say that they are from Antarctica - and not Australia ...
Cheers,
S.O.S
perhaps my English is not perfect - but I know the Jungle
  • #109
  • Oct 20, 2016 4:52am Oct 20, 2016 4:52am
Can anyone tell me a few brokers who are charging very low commissions with tight spreads ?
  • #110
  • Oct 21, 2016 6:15am Oct 21, 2016 6:15am
not recommending any brokers.. but I would like to hear from FX Traders about the following ... saftey of funds/dma vs b book/thoughts on brokers in general and general problems in the retail fx world..
  • #111
  • Oct 29, 2016 12:53am Oct 29, 2016 12:53am
Namaste!!!
ECN brokers are overrated, as somone have already said.
The MT4 platform was not designed to work into an ECN environment, it was designed for market makers. In order for MT4 to work with multiple liquidity providers (ECN environment) it needs a bridge that can sum-up all the offers from the LP and choose the best one. Some brokers that use MT4 have developed such a bridge compilator, most not. CTrader platform as well as other platforms accept inputs from multiple LP. There are brokers that are ECN when you use any other platform than MT4 and that are market makers with MT4 (FXPro is such a broker-a good broker in my view). Most of the ECN brokers have implemented MT4 because it is very popular and for marketing reasons, to expand the market with the new traders and the traders that use EA's.
Now, in my view, the first criteria of choosing a broker is the regulatory environment, the second is the history of the broker in the markets. I would also avoid brokers that offer big bonusses. Another criteria is if the broker have a local branch or is simply a local broker, I would pay a visit to their office to see it.
Finaly, does not matter to much the business model (ECN, market maker or mixt) of the borker, it matters how serious is the broker and his good name.

Best regards and enjoy your weekend!
  • #112
  • Oct 29, 2016 2:50am Oct 29, 2016 2:50am
It just means you should not get fucked on the spread just on the commission . the no arbitrage law implied that there is no way get a better price using LP...
  • #113
  • Oct 29, 2016 2:52am Oct 29, 2016 2:52am
Quoting pbx06
It just means you should not get fucked on the spread just on the commission . the no arbitrage law implied that there is no way get a better price using LP...
Some ecn are fucking bad slow server response etc ... and are fake ECN or very bad servers
  • #114
  • Oct 31, 2016 9:43am Oct 31, 2016 9:43am
I have worked in the industry for many years both in institutional FX and bridge..what is the top 3 considerations when looking at a broker? regulatory safety of funds? whether they are piping and b booking or tightest spread and the others dont matter? is it liqudiity over all and being able to execute when you want.. or would people like to trade with each other rather than the broker so its peer to peer so no influence by the broker.
  • #115
  • Nov 1, 2016 2:09pm Nov 1, 2016 2:09pm
Quoting J.Farrell
not recommending any brokers.. but I would like to hear from FX Traders about the following ... saftey of funds/dma vs b book/thoughts on brokers in general and general problems in the retail fx world..
you're making a distinction between dma vs b-book. "dma" in spot fx can be confusing to many as "dma" is usually referencing exchange traded instruments (like equities -which spot FX is not, rather a network of different LPs). So, not really sure what you're getting at here unless you mean stp (middle-man) vs desk (market maker). as you would know - there are good and bad with both. Its not about the desk model, but about the company, its jurisdiction, capitalization, pricing policies, instruments offered, etc, etc.
  • #116
  • Nov 2, 2016 5:00am Nov 2, 2016 5:00am
Hi Punter thanks for the info.. .. DMA is also used in the FX world for direct access to the 'non spread' bank FX rates (yes agree it has been used predominantly on the equities side). the REtail market seems to have started using STP incorrectly (Straight through processing) and it stuck.. STP was originally used in institutional world where the trade would flow directly into the back office without manual ticket writing. anyway enough history lesson!

So to be clearer im looking at desks where they spread and pass the trade on to the LP or charge a fee and you have direct access to the 'real' rates (STP/Agency) vs B Book broker.. does the retail market think these brokers are transparent enough ? for instance if they know your open position are you being shaded on price? when charged a per ticket fee how do you know you are not being spread too?

When depositing money with a broker is it safe or is there a better way to handle the real accounts?

I am trying to get an understanding whether the market is happy with both/one type, think it could work better.
  • #117
  • Nov 3, 2016 10:50am Nov 3, 2016 10:50am
Don't get fooled by any ECN labeled brokers that you might come across the web. And don't fall vectim in the trap of those who claim that they are regulated by local regulation bodies.

In General never trade with those brokers who are originally established and operated outside UK or USA and in particular those who operate on the Australian continent like ICMarkets, Atom8 and the like which i had a horrible experience with them. They are Market Makers in the form of ECN. They are nothing but draining machines that will drain your account and get you out of the market as soon as you start making a profit.

Even if the broker is located in UK and regulated by FCA, but the transactions is not executed on a local servers that is located in UK soil, The FCA will not be of any good to you as per the FCA statement.

Regarding MT4, It is the platform for bucket shops and market makers. if you ever come across the Steve Mauro course, he will prove to you how the broker can manipulate orders from the broker's mt4 server version and probably send you bankrupt.

My recommendation is to wait to save enough money at least 10k to sign up for one of the largest brokers who have no issues and are real ECN, STP or DMA brokers like LMAX, MB and the likes. This will diffidently save you the frustration of having the horrible experience as well as waste of time, money trading with those SCUM scavengers.

Had i saved the amount i lost trading with those SCUMS I would have saved more than 10k that i lost in the process of trading with them. The irony i am able to make pile of money in the demo account but not in their so called live ECN accounts.

LISTEN TO ME TO AVOID FRUSTRATION.

GOOD LUCK
  • #118
  • Nov 3, 2016 11:02am Nov 3, 2016 11:02am
Quoting erkan123
Don't get fooled by any ECN labeled brokers that you might come across the web. And don't fall vectim in the trap of those who claim that they are regulated by local regulation bodies. In General never trade with those brokers who are originally established and operated outside UK or USA and in particular those who operate on the Australian continent like ICMarkets, Atom8 and the like which i had a horrible experience with them. They are Market Makers in the form of ECN. They are nothing but draining machines that will drain your account and get...
http://www.forexpeacearmy.com/forex-...6/www.lmax.com
read what real user review about their experience with LMAX.
  • #119
  • Nov 3, 2016 11:10am Nov 3, 2016 11:10am
Quoting Irwan1976
{quote} http://www.forexpeacearmy.com/forex-...6/www.lmax.com read what real user review about their experience with LMAX.


I just learned that they developed such attitude. Most of the previous previews were excellent.

What would you suggest then .... Irwan.

Thanks
  • #120
  • Nov 3, 2016 12:47pm Nov 3, 2016 12:47pm
Quoting Irwan1976
{quote} http://www.forexpeacearmy.com/forex-...6/www.lmax.com read what real user review about their experience with LMAX.
I do not trust the reviews from FPA. There are employees/affiliates of unserious brokers giving good ratings to their brokerage. As well as giving bad ratings to some serious brokers.

LMAX is the best broker I have used without comparison. If they got bad reviews and maybe the biggest bucketshop around, namely Hotforex, is given a 4 star rating, there is something seriously wrong.

Hotforex is drowning this forum with a handful of contributors trying to hide all the negative posts about Hotforex. Just read through their thread here. After someone posts something negative. None of the affiliates will comment it. Instead they post about them "making money" and quick withdrawals and so on. Just to make the negative posts invisible.

Also they try to talk down FCA and some serious brokers. Just crap. Do not be fooled. The serious brokers won`t come here to answer this. They don`t need to. Everyone with some experience will eventually find them. The lousy brokers that rookies try once before fleeing from them, will covertly advert on forums like this.

Go and look at Baby Pips forum, the same thing going on there as well. The same arguments. Trying to give an impression that Hotforex pays out, quick withdrawals and so on. Shady marketing to recruit the absolute rookies making their first steps in forex trading.
Do not let the cost of being wrong, exceed the prize of beeing right
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