What is the best ECN forex broker?

#16
Ok so how did you figure out that your broker is ECN? Any distinguishing features you can share with newbies?
To be honest it is very tough to identify a True ECN broker. But I have experience trading with few ‘ECN by Association’ brokers like FXCC. I have had experience with them multiple fake candles! I have screenshot.

First point is, a scam broker won’t ask you twice for verification but Tickmill ask me twice to send my documents. I had to provide my Passport and rejected my ID card! (No FX broker did before, I have open account with more than 20 brokers with this ID card!) They wanted a paper scan (after providing the digital pdf)! I believe this is a great sign.

I traded the rumor of today (Trump threaten N.Korea) , I had 4 short at USDJPY and all of them was close in positive slippage! ( one of them was 3 pips), Nobody does that unless a true ECN. Never found re-quote! And you can set SL anyway you like no minimum PIP requirements. And they offer no big offers which is a big sign of a good ECN broker.

Hope this will help newbies. Hope they will ignore those broker who offers so much free stuff.
 

progix

Active member
Feb 25, 2016
206
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#17
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.
 

gerryg

Active member
Sep 9, 2013
915
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#18
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.
What are the criterions you can suggest essential for valid research on a broker?
 
Oct 12, 2017
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#20
Sometimes I see someone about saying true ECN broker . what is actually True ECN ?
A true ECN is a system that allows routing your trade to another member of the ECN.
The vendor or agency that provides the software (and sometimes hardware) could be a neutral broker or just a technology provider agency. If is a neutral broker their commission per transaction should be very low. They won’t take the other side of your trade and might offering you to deposit with them but as extra services. You can find all quoted prices and venues to route your trades and should get some notion of the transaction outcome before the pending order get place, so it will be for example a slippage event, you will know exactly the different among prices, that can occurs ( due markets condition at the day, venue notify that slippage event can occur, so the trader will not be surprised if they dont get filled in the price the want to deal) since the venue (a brokerage house, broker dealer, an exchange or another trader) will post in the pre trade book.
If is a retail ENC there is a little blur due ENC are most popular and flexible in the wholesale side, so for the retail ECN is the same on quoting price, but you do not connect directly to the venue that is streaming the price, the broker will send your trade and place it with a venue that is willing to make a deal with those retail blocks orders.

If the ECN is a tech, news, data provider company (like Bloomber, Flextrade or Reuters) they won’t hold funds in your behalf, they just will charge a monthly fee for the services and just will link your order to the venue you choose to.
 
Oct 19, 2017
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#21
I think it really depends what you're looking for. Tighter spreads on ECN but instant execution on MM/DD. However, like a lot of people have said here, execution on most modern ECN platforms is pretty much instant with no re-quotes.

A lot of traders like the 'peace of mind' factor that comes with ECN, in the fact that they're simply passing the trade through to a liquidity provider/other participant in the market and it's not going to a desk with someone that (possibly) has different interests to you.

Most brokers that are 'true' ECN will market this quite heavily on their website/info etc, so it shouldn't be that hard to find.
 

gerryg

Active member
Sep 9, 2013
915
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#22
I think it really depends what you're looking for. Tighter spreads on ECN but instant execution on MM/DD. However, like a lot of people have said here, execution on most modern ECN platforms is pretty much instant with no re-quotes.

Only when you don't run scalping EA's or trading news. In this case execution is pretty sh**ty on most because its a true test of their services. It took me several years and a lot of lost money to understand who is who
 

hatemypips

Active member
Nov 11, 2014
226
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28
#23
Only when you don't run scalping EA's or trading news. In this case execution is pretty sh**ty on most because its a true test of their services. It took me several years and a lot of lost money to understand who is who
So which broker did you eventually choose?
 

aa9

New member
Oct 30, 2018
16
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#24
Finding a decent and true ECN broker is very difficult these days. For me, I struggled a lot but after reading positive reviews and testing their demo account I chose COINEXX, that’s when my journey to find a true ECN broker ended. There order execution policy is so good plus they offer high leverage and best brokerage deals. Every issue is resolved under 24 hrs. You guys should try their demo account to verify for yourself.
 
May 26, 2018
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#25
You can try to search with this keyword "the best ECN forex broker 2018"
 

hatemypips

Active member
Nov 11, 2014
226
2
28
#26
To be honest it is very tough to identify a True ECN broker. But I have experience trading with few ‘ECN by Association’ brokers like FXCC. I have had experience with them multiple fake candles! I have screenshot.

First point is, a scam broker won’t ask you twice for verification but Tickmill ask me twice to send my documents. I had to provide my Passport and rejected my ID card! (No FX broker did before, I have open account with more than 20 brokers with this ID card!) They wanted a paper scan (after providing the digital pdf)! I believe this is a great sign.

I traded the rumor of today (Trump threaten N.Korea) , I had 4 short at USDJPY and all of them was close in positive slippage! ( one of them was 3 pips), Nobody does that unless a true ECN. Never found re-quote! And you can set SL anyway you like no minimum PIP requirements. And they offer no big offers which is a big sign of a good ECN broker.

Hope this will help newbies. Hope they will ignore those broker who offers so much free stuff.
Well I heard that trustworthy brokers have strict rules for their clients, for example some of brokers will reject your application if you don't meet qualification requirements (like IB). Well best trade-off for me is ease of access and proper license that's why I choose tickmill, and I have to note I didn't have any problems with verification they even accepted proof of address as an exclusion from their rules because I couldn't provide one from their accepted forms.

You can also try Нotforex they have hot thread here probably their specialist can help you to facilitate verification.