The best ECN broker

[TheRumpledOne]

Any particular reason why you prefer EFX over Interactive Brokers (where the commission rate is 60% less) ?

I just looked at their site.

Are you positive the commission is 60% less?

I don't see a LEVEL II screen. Does IB have one for Forex?

 

[gc1]

I just looked at their site.

Are you positive the commission is 60% less?

I don't see a LEVEL II screen. Does IB have one for Forex?

I understand EFX and MB Trading are $5 per $100,000 traded which is $50 per mio.
IB is $20 per mio - all be it with a $2.50 per side minimum (so small trades can be more expensive percentage wise).

There is a Level II type screen for forex called BookTrader - I couldn't get it to work in the previous TWS release but in the latest release it seems to work OK. It only shows the size offered at each price, not which bank it comes from or whether it is another trader.

There are several things I don't like about IB (expensive overnight finance charges, the fact that P/L amounts accumulate in different currencies, a trade entry system that is less easy to use than other firms) - So I was asking a serious question to the EFX/MB users about what they find good about them to justify the significant extra cost.

 

[billm]

Is anyone using TWS to trade a live Forex account ?

I'm with MB/EFX and looking to lower my costs but the latest demo version of IB's TWS looks very cumbersome.

If you're using IB's TWS let me know how you are getting on with it.
thanks

 

[tibly]

MB futures ? Well I have found this from forexnews.com. Yeah GOOD LUCK TO YOU if You are with them.
Healthy Forex Firms
FXCM ($51,000,000)
GFT ($48,000,000)
Oanda ($44,000,000)
FX Solutions ($20,000,000)
Gain Capital ($20,000,000)
CMS ($10,000,000)

Dead Firms Walking
One World Capital ($1,105,000)
Velocity4X ($1,587,000)
Direct Forex LLC ($1,523,000)
FiniFX ($1,464,000)
Forex Club ($3,304,000)
GFS Futures & Forex ($3,074,000)
Nations Investments ($1,699,000)
Royal Forex Trading ($1,102,000)
SNC Investments ($1,565,000)
MB Futures ($3,080,000)
Money Garden ($3,399,844)

Here is the actual NFA proposal to raise capital requirements (below that is the sad email from the CEO of UGMFX stating the firm is going under.) The CFTC is expected to sign off on it this summer. I'll comment further on the proposal in a future posting as it will actually require most firms to have upwards of $10 million in capital when you take into consideration such things as open customer positions and margin levels. In any case, this should be sober reading to anyone who is currently trading at one of the "Dead Firms Walking."

Edited by forexsavior on 15-Aug-07 at 20:58

WHat the hell this has been posted like a year ago, how comes MB trading is still alive? isn't it supposed to be death by now?

 

[calvins168]

anyone using gtltrading or afb broker? are they good

 

[japra8]

How about dbfx?

 

[jeffreyc01]

let me repeat again to make a truth revolution: the best one in usa now is hotspot,b/c:
Forums - why deleted my thread,b/c is it too important?
however it doesnt have trailing stop function,so sad it is!

 

[jaet1989]

Ib

 

[mikeabraham]

Broker FXCBS

I understand EFX and MB Trading are $5 per $100,000 traded which is $50 per mio.
IB is $20 per mio - all be it with a $2.50 per side minimum (so small trades can be more expensive percentage wise).

There is a Level II type screen for forex called BookTrader - I couldn't get it to work in the previous TWS release but in the latest release it seems to work OK. It only shows the size offered at each price, not which bank it comes from or whether it is another trader.

There are several things I don't like about IB (expensive overnight finance charges, the fact that P/L amounts accumulate in different currencies, a trade entry system that is less easy to use than other firms) - So I was asking a serious question to the EFX/MB users about what they find good about them to justify the significant extra cost.

===============================
Has anyone traded with FXCBS ... have heard good reviews on them ... anyone else out there who has dealt with this broker??

 

[Wolffx]

FIXI is really good and good commission of just 15 usd per 1 mln, Dukascopy also not bad.

 

[aron1818]

I use BFL i am very satisfied ,top liquidity and good execution

 

[FXGiant]

If you can afford $25k account with $100,000 minimum deal size then the bests are in the order of their ranks - LondonCapitalGroup, FCStone
If you can afford $10k account with $10k minimum deal size then the best is ODL Securities "Prime Brokerage" solution.

Needless to say, variable spreads and commissions ($3.6 roundtrip i.e. for $1.8 opening and $1.8 closing 1 standard lot).

 

[TaKiii]

I'm using FXOPEN ecn. which is tied to dukascopy. I also use interactive brokers. Both are extremely good with good fills and execution. Commissions are a bit high but small price to pay for good service imho.

 

[GammaJammer]

They sound like a bucketshop to me. There's a retarded thread I saw over at FF (yes, I was bored, no, I havent turned into a whinging retail scalper overnight) where some idiot lost all his funds after scalping latent prices. Nobody came out of it with any glory. Laugh? Oh yes!

 

[oildaytrader]

I'm using FXOPEN ecn. which is tied to dukascopy. I also use interactive brokers. Both are extremely good with good fills and execution. Commissions are a bit high but small price to pay for good service imho.

and who is Dukascopy tied to?