Spreadbet True ECN

Hi

I am looking for a broker to trade FX that offers spreadbet with a True ECN. I am able to use the tax advantages of spreadbetting in the UK. I have accounts with Interactive Brokers (IB) & LMAX. Both are true ECN (although LMAX term is a multilateral trading facility) but spreadbetting is not offered. What I mean by this is there is an actual order book that you can place orders in and they are not dealer based brokers and a commission is levied per trade. I also have an account with IG who offer spread bet but this is a dealer based quote system. I therefore cannot place orders into the market or book. The execution on IB & LMAX is excellent but not spreadbetting.

Are there any brokers that offer a true ECN in a spread bet format or does this not exist?

Also note I know there are a lot of brokers out their who label themselves 'true ECN' or 'NDD'. My understanding is that this is not the same things, they are dealer based brokers who are using an ECN to price their dealer quotes. So you cannot enter bids or offer orders into the market.

Thanks in advance

advance Happy New Year

anyone? guess people are still in xmas slumber.

I know intertrader passes your spreadbets onto the underlying market. They say they are NDD ECN spread betting brokers.

the indirect passing of the spread betting into the real market makes it ECN while letting it keep the betting tax exempt status

Their website says they operate a no dealing desk policy which is not the same as operating an ECN. I still can only buy their offer or sell their bid. I am looking for a genuine ECN spreadbet broker where i can place limit orders directly into the market however I understand this may not exist.

Looks like I will continue to have to use IG and pay the 1 to 2 pip variable dealer spread.

Have a look at Atom8. I don't know how the metatrader bridge operates but the JForex application they're licensing from Dukas uses real limit orders as far I know.

The indirect nature of spread betting, the fact your orders aren't directly placed on the markets and how you don't use lots, but £per pip is what makes spread betting tax exemt.
im not sure you're ECN spread betting exists. Apologies, I actually posted a thorough explanation yesterday addressing this but it wasn't approved for some reason.

Does not exist.
There is enough material on the internet to clarify.

Possibly the closes to objectives may be ProSpreads - http://prospreads.com/ → The Play button is video illustrating placing order inside spread.

Note: Not FCA regulated so no deposit compensation via FSCS

Also note that the site has not been updated in some years.

Used to be owned by LCG which offered some sort of Linus van Pelt security blanket. LCG sold some years ago.

See this thread for past discussions http://www.trade2win.com/boards/spread-betting-cfds/65624-prospreads-com-94.htm.

The thread died when LCG sold.

May be of interest: FCA Regulated Brokers - http://www.forexfactory.com/showthread.php?t=154210
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ProSpreads is a trading name of Argon Financial Limited; a company registered in Gibraltar (company no. 91368). Registered address at 2/3b Horse Barrack Lane, Gibraltar. Argon Financial Limited is licensed by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner (Gaming Licence No.70) and authorised and regulated by the Financial Services Commission.

Prospreads is probably the only one but they haven't offered Spot for about a year now. They've been saying it's going to come back but it's been ongoing for sometime now.

They offer the CME futures if that's any help.

thanks guys for all your suggestions. will check out atom8 and the pro spreads option although I dont want to trade the currency future just the spot.