ECN brokers?

Discussion in 'Newbie Questions' started by jamie78john, Nov 28, 2014.

  1. jamie78john

    jamie78john Trader

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    Hi guys, maybe a bit not so newbie question, but I hear that many brokers claiming that they are ECN brokers but in reality they are market makers, can someone point me out better ways to find out if certain broker is cheating with claiming false things?
     
  2. Enivid

    Enivid Administrator Staff Member

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    You can look at their platform. For example, Currenex and cTrader are ECN platforms, so you can be sure that if you trade via these platforms, you are trading in an ECN.
     
  3. alexflemj

    alexflemj Active Trader

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    This is just one way to find out whether self-proclaimed brokers are indeed ECN - at times of loq liquidity or high volatility (news times), if you are to place a buy or a sell order, you will most probably receive slippage simply because there is no one who can provide enough liquidity to fill your order. If your broker is not true ECN,your order (at news times again)will get filled at whatever price you want cause it will never get sent to liquidity providers, instead broker will keep it in house.
     
  4. vicknic

    vicknic Confirmed ProfiForex Representative

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    One thing about ECN brokers is that they don't trade against you. They do not profit from you loss, rather you are given low spreads and required to pay a small commission per deal. There is this misconception about ECN brokers being unable to give fixed spreads. This cannot be true. A broker that offers ECN accounts may choose to offer both variable spreads and fixed spreads.
     
  5. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    That is true, but there are two bridges which have been created so ECN can be offered on MT4 as well. I would not recommend that and stick to the true ECN platforms.
     
  6. Fxpipper

    Fxpipper Master Trader

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    I use three brokers, tradersway, fxcm and alpari and the first two are real ecn with c trader, the later, well its something, just not sure what to tag it as..
    The point being that most of the top brokers may offer ecn trading, you no longer need to have a hundred grand to trade ecn..
     
  7. Ahmer

    Ahmer Newbie

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    Just ask your broker to show trading receipts from Liquidity Providers. IC Markets and Global Prime both are ECN brokers and they can show who filled against your trade order.
     
  8. triplet

    triplet Active Trader

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    A true ECN broker will never trade against you because they their main source of income is through commissions. They offers a transparent platform whereby traders get the best deals.
     
  9. mr forex

    mr forex Trader

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    Lots of things, people, brokers and aliens are claiming to be things they are not. All in the name of money. I dislike dishonest brokers. Trading alone is already tough for 99% of traders out there.
     

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