Hi, I wonder if what are the other ECN forex brokers existing in the market?
I would like to share a conversation on how it gain success on forex trading.🙂
You can find the info on the brokers' websites.
There may be some honest information sometimes 😀 Why sometimes? The majority of marketmakers tell people they are ecn , but in fact they even don't have liquidity providers (I won't tell the names, but you will meet such companies while researching).
I chose the one I work with as they HONESTLY told about a mixed business model. People who want to trade on ecn do it, people who don't care choose classic or cent accounts
You may also ask the support. But read reviews and forums prior to choosing a company
You can find the info on the brokers' websites.
There may be some honest information sometimes 😀 Why sometimes? The majority of marketmakers tell people they are ecn , but in fact they even don't have liquidity providers (I won't tell the names, but you will meet such companies while researching).
I chose the one I work with as they HONESTLY told about a mixed business model. People who want to trade on ecn do it, people who don't care choose classic or cent accounts
You may also ask the support. But read reviews and forums prior to choosing a company
They do provide information that they may act as a counterparty on some instruments. Just lurk into Нotforex ToS. Although I'm quite comfortable with market makers too.
Thank you Alexander! I agree with you, where in fact there are a lot of unreliable companies existing which offers promising services yet getting bad reviews.
How do you define the best ECN broker? Please advise.
I'm really amused to read those comments where people have no clue about consistently winning trading but demand something that won't help them at this stage. I would say they rationalize their impotence in trading blaming brokers for it. That's incorrect approach, imo.
Start from yourself before you can really know what are your requirements for ideal broker.
Gerry, Gerry, you're such a cynic. As an experienced trader would you advise someone to practice on a spread marked up by 500% or by using a proper OTC matching engine with the underlying spread and paying commission? If you had the choice?
It strikes me that effort spent beating the Euro on a 1 point spread is something of a waste of time. I also have no idea how anyone scalps on such a spread, consistently. Presumably nobody actually does it for a living.
I don’t have any problem with MM or ECN unless the broker is well regulated. I believe it is your trading style which is more important. I won’t go if that broker has no FCA regulation and well market reputation. No authority has the same degree of trust as FCA does!
It would be very tough to compare between ECN brokers by trading environment. Most of the ECN brokers offer lighting fast execution and no requote these days. However, I prefer ECN broker with lower commission for my Scalping. I switched to a ECN broker called Tickmill and I am happy so far.
Actually, I am a Price Action trader in daily chart but as you know market turmoil is very high recently. Nobody knows what Mr.Trump is going to do next with Syria and Russia. France election is playing vital role as Le Pen wants Frexit, OPEC is next and so much more.
I switched to my scalping strategy unless these changes and lower spread ECN is vital to scalp.
Ok so how did you figure out that your broker is ECN? Any distinguishing features you can share with newbies?
Hope they will ignore those broker who offers so much free stuff.
I think new traders should make some thorough research before finalizing any reputed broker because it is becoming much difficult to find a decent broker these days.
Sometimes I see someone about saying true ECN broker . what is actually True ECN ?
