Hi, can someone tell me if there are any other cost except of commissions when trading with ecn broker? I mean data , platform, charts fee? I'v visited some sites and can't find any info regarding costs of these servises. Also some offer meta trader or currenex platform. Is it for free? Does it provide charts? Thanks
inzider
Guest
- Messages
- 48
- Likes
- 4
No
I use Dukascopy and volume fee is the only fee you have.
Most of those program will offer chart package, but all you need to do is to get MT4 aside and trade on their plateform, that''s what most of people do since MT4 chart package is user friendly.
Some program could ask you to buy data, but those are rare case.
I use Dukascopy and volume fee is the only fee you have.
Most of those program will offer chart package, but all you need to do is to get MT4 aside and trade on their plateform, that''s what most of people do since MT4 chart package is user friendly.
Some program could ask you to buy data, but those are rare case.
HowardCohodas
Experienced member
- Messages
- 1,868
- Likes
- 97
This seems as good a place as any to ask. What is the advantage of an ECN broker to other brokers that give you access to the Forex market?
inzider
Guest
- Messages
- 48
- Likes
- 4
The answer is simple: no conflict of interrest.
I write that in a another thread:
MarketMaker are not even placing your orders on the market. Since most of the retail trader are loser, all they do is to create a virtual market, like a casino table, and replicate the market condition on it. By not placing your order on the market, when you take a lost, they win, and when you win, they start to play game against you to make you lose like requotes, frozen/disconnect plateform and wide spread... simple no?!
ECN broker, witch are not market maker, are not widening the spread to make money like MM, so they charge a very low commission instead. I think this is a fair deal/compromise to get crystal clear trading condition and stop the eternal question about: do my broker play game against me....
I use Dukascopy and you can use my IA # 2196 to get lower volume fee.
Take care
I write that in a another thread:
MarketMaker are not even placing your orders on the market. Since most of the retail trader are loser, all they do is to create a virtual market, like a casino table, and replicate the market condition on it. By not placing your order on the market, when you take a lost, they win, and when you win, they start to play game against you to make you lose like requotes, frozen/disconnect plateform and wide spread... simple no?!
ECN broker, witch are not market maker, are not widening the spread to make money like MM, so they charge a very low commission instead. I think this is a fair deal/compromise to get crystal clear trading condition and stop the eternal question about: do my broker play game against me....
I use Dukascopy and you can use my IA # 2196 to get lower volume fee.
Take care
HowardCohodas
Experienced member
- Messages
- 1,868
- Likes
- 97
Perhaps I'm naive, but that's not my understanding of how the broker I use (ThinkOrSwim) works. They give you a choice of commissioned trades or non-commissioned trades. I can find no evidence they are market makers. How would I know?
HowardCohodas
Experienced member
- Messages
- 1,868
- Likes
- 97
I fear I did not do my due diligence. ThinkOrSwim was recommended to me by someone who was successful at Forex trading and I don't recall when I signed up whether market making ever came up. I'll have to dig further.
inzider
Guest
- Messages
- 48
- Likes
- 4
Don't get fear. Some MM (market maker) are fully respectable. Since most of retail lose they don't need to play that much games, and even need some winners to look respectable, so they can't get too trashy.
I like Fxpro (standard low capital) or FxOpen (micro - havent test yet) , big capital I would go ECN and fully respectable like Dukascopy or MIG.
My 2 cents on this, hope this help you.
I like Fxpro (standard low capital) or FxOpen (micro - havent test yet) , big capital I would go ECN and fully respectable like Dukascopy or MIG.
My 2 cents on this, hope this help you.
HowardCohodas
Experienced member
- Messages
- 1,868
- Likes
- 97
Thank you for your insights.
I'v seen some opinions that MT4 can't work with real ECN. Is that true??
Just a point you mentioned... You use Dukascopy, but I didn't think thier platform was "MT4" ?
EmpireGlobalfx
Active member
- Messages
- 212
- Likes
- 0
Hi Guys, just answering or adding another opinion on ECN environment. ECN has variable spreads depending on market conditions; usually getting prices from major banks. ECN Brokers may (like in our case) charge a commission per trade, which is the Broker income for opening the market, leaving the variable spread to the customers' benefit (the more liquid the market, the lower the spread).
Depending on access to liquidity and market conditions an ecn can offer customers spreads as little as 0.3 or 0.4 in eurusd as an example.
Like another colleague quoted before, the difference between an ecn and a MM is the conflict of interests. Basically ECN will open you the way to liquidity pools and will give the customer unrestricted trading conditions to profit from the market . The larger the business relation with the customer, the better for the ECN.
Finally, I THINK our colleague broker dukascopy has MT4.
Best regards, and best trades too!
Depending on access to liquidity and market conditions an ecn can offer customers spreads as little as 0.3 or 0.4 in eurusd as an example.
Like another colleague quoted before, the difference between an ecn and a MM is the conflict of interests. Basically ECN will open you the way to liquidity pools and will give the customer unrestricted trading conditions to profit from the market . The larger the business relation with the customer, the better for the ECN.
Finally, I THINK our colleague broker dukascopy has MT4.
Best regards, and best trades too!
