ECN Broker - MT4

[mystic]

GBP Account We accept Wires and BACS only for funding and withdrawals. Instructions are below: Pay To: Wells Fargo Bank, N.A London
SWIFT Code: PNBPGB2L
A/C No: 08542037
IBAN: GB09 PNBP 1656 7108 5420 37
BACS Sort Code: 40-51-33
CHAPS Sort Code: 16-56-71
Name of Account: MBT Financial UK Ltd Further Reference to: Customer's Name and Account Number with MBT UK

Additional: Clients should specify on their Wire instructions to send in GBP only. DO NOT CONVERT to any other currency.

Got it, as my account previously was in EUR, email that has been sent to me didn't contain sort code and was only for wire transfer.
cheers Alex!

 

[alex2006]

you are welcome

 

[alex2006]

On 1 January 2012, the law on how long it will take for most sterling and euro payments to be made will change. From 1 January 2012, sterling and euro payments that are within the scope of this new legislation will need to be processed by the end of the next business day. (Payments Council - Countdown to Payment Services Directive)

 

[Jtrader81]

Can anyone here recommend a good ECN broker to go with as I am looking for a backup provider?

Im looking for Currenex or Intergral and to pay a low comission per million?

Can open with 100k

 

[chrisbliss]

for that kind of money I would go with either Barx, Barclays Capital or LCG, london capital group
I didn't trade with them personally because I don't have that much to play with,
but I hear thats two of the places where many of the pro's trade,
I think they can set you up with any trading platform.

 

[DJS1]

for that kind of money I would go with either Barx, Barclays Capital or LCG, london capital group
I didn't trade with them personally because I don't have that much to play with,
but I hear thats two of the places where many of the pro's trade,
I think they can set you up with any trading platform.

None of the above will give you pricing direct from Currenex etc....anyone who claims to be a pro yet trades with these brokers are either lying or highly delusional!

 

[chrisbliss]

then who will? anyway it says on their webpage they offer currenex, if it's direct pricing I don't know, all I know is there is some really heavy dudes using them. don't have any personal experience with them though,
forgot to mention Dukascopy, but they don't have currenex offcourse

 

[DJS1]

then who will? anyway it says on their webpage they offer currenex, if it's direct pricing I don't know, all I know is there is some really heavy dudes using them. don't have any personal experience with them though,
forgot to mention Dukascopy, but they don't have currenex offcourse

A DMA or STP broker...LCG & Barclays are market makers, their pricing therefore only mirrors the underlying exchange (currenex in this instance) rather than receiving the pricing direct.

 

[chrisbliss]

I think you must be confusing them with some other brokers,
they are definitely not market makers
they give you access to multiple ECNs

 

[Als]

Best broker I've seen so far - Armada Markets – FX Trading | LMAX Forex Broker , they are not an ECN broker, they are providing execution on London-based currency exhange, they guarantee norequotes. I'm using them for scalping EUR/CHF and it works really fine.

you've annoied with PRing of this estonian bucketshop under different nicks

on forexfactory forum

and now you are here.........

 

[TradeProvider]

Hello JDTRADER
I read your post with great interest.
I work for a company called CapMar Financial UK and was wondering if you could try out our demo.
We offer MT4, Currenex and First Derivative with low spreads and costs.
I can set you up with demo accounts for them.
Your feedback would be most useful.
Kind regards
Sadek

Yep that's a new one on me lol


I'm in the UK so I want:
Trade in GBP
FSA Regulated (Or a big enough like Dukascopy)

There are quite a few New Zealand and Australian based MT4 companies but then your charts are in there Time Zone not yours and you can't change Time Zones.

All companies from that region I'm not interested in

One thing to remember to set up a MT4 platform and set yourself up as a Forex Trading Company is easy and cheap. Small companies are all over the internet on MT4 be sure you trade with a good company with a solid trading base.

 

[oceanspie]

divisa is ecn, but has a big spread markup, and excecution is very slow!

Divisa ?

demo looks good

i'd be glad to get your opinion

 

[TradeProvider]

Guys, remember that these market maker brokers can offer unreal spreads (even if the banks aren't showing 0). It is a hook to get you in and then take you out at loss. I had an account with a UK broker who offered up to 0 spreads, they've gone bust now, guess if I made a profit or lost all my money on phantom price movements? (You're stupid if you answered yes!)
Don't blame my strategy because my other accounts (same strategy used) are in profit. I will not be suckered in by these market makers and fake STP brokers. Take my advice and choose a good true ECN broker (some of them do small clip sizes).

 

[TradeProvider]

Hey badboyben,

You are correct a true ECN can show 0 spreads but these are rare and last for seconds. Most traders won't be seeing that otherwise if they did then you can imagine what would happen. With CapMar, I see the same thing. I am happy that I am trading with a company that has no B-book and takes no part in the trades. I have no doubts that IC Markets is a good broker, I think I'd rather have a good regulated broker (like CapMar and IC)than one from an unregulated region promising me the best spreads/cashback/rebates etc and then stabbing me in the back.

 

[JoPa]

Hi All,
Just signed up on this forum.
I'm trading for over 6 years now and have had the unfortunate pleasure to trade with some brokers. Most of them are real gangsters.
Does anyone has any experience with CapMar FX from the U.K.?
Off course TradeProvider will do his best to promote his company, but the real value is the experience we guys (traders) have with the brokers.

 

[omzforex]

Ive been trading with them for the last 4 months and so far so good. the sales guy told me they were a pure ecn broker so i tested it out with 20K and it seems to be a real ecn. j

 

[JoPa]

Ive been trading with them for the last 4 months and so far so good. the sales guy told me they were a pure ecn broker so i tested it out with 20K and it seems to be a real ecn. j

Thanks omzforex. This is useful information. A lot of the brokers claim to have ECN prices, but once you money is on the account, you find out they aren't.

 

[bluebell]

it can be more than one reason but the most probable is
because they have the other side in the trade,
making you loose more by making you not able to close your trade when the market goes against you,
the market can move pretty much at news time.
so I guess easy money for the broker.
since he have the other side in your trade,
your loss is his gain.
criminal behaviour in my opinion,
not all brokers do this, there are good ones

then pray tell -- who are these good brokers--have been hunting for a while and cannot find a reputable one

 

[DiggerOfTruth]

The FTT MT4 worked fine but the commission you see on the MT4 is just for FTT for use of the MT4 Bridge. The FTT MT4 is linked to JFOREX which opens and close trades and after a number of trades the balance on Dukascopy was different to FTT because you don't see the commission for Dukascopy on the MT4.

When I closed half of a trade the system was flawed as it just opened another trade on JFOREX, my long where I took half profits and let the rest run but in fact on Dukascopy JFOREX I was now short half.

Worked fine opening and closing full lots but JFOREX did not understand or there was a tech flaw on partial closing.

Plus don't see the point paying double commission just to use MT4 on ECN where other brokers give this option.

Traded the JFOREX on its own which works very similar to MT4, great spreads (Seen EUR/USD go zero spread) But its for a bigger balance than I got. Plus the commission, margin was confusing.

My situation has changed as I'm losing my job 9th May so I'm going live on SLM

Did you ever find a true ECN broker that you stuck with? (I am not liking the "slippage" from my current broker eating in to my profits...)

Also, which rebate broker (IB) is best for high and quick rebates into your account?

 

[vanyo1]

Did you ever find a true ECN broker that you stuck with? (I am not liking the "slippage" from my current broker eating in to my profits...)

Also, which rebate broker (IB) is best for high and quick rebates into your account?

I don't think MT4 is suitable for ECN trading.