Quote:
Originally Posted by hess
Try Nordmarkets a swedish broker. They have true ECN feed but for an account size of 10k for smaller accounts 2k they have a mini. For mini they do have a dealing desk but spread is just 1 pip on U
They use the bank of Nordea which is they say a prominent scandinavian bank and regulated by the swedish authorities.
What struck me about them was their honesty. When i asked about mini acccounts they representative told me they can't pass on mini account orders to banks via their ECN coz banks dont accept such small orders so they hedge it manually. This dosen't mean they trade against you or spike spreads.
FXCM calims they pass on all orders on MT4 to banks which is probably not true.
I'm seriously looking into nordmarkets.
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As a swede I feel that I may be able to contribute here.
It's true that Nordea is the biggest bank in Scandinavia, but they're still quite small compared to tier 1 banks such as Barclays, Citi, Deutsche and so on.
As far as I can tell the company itself is serious. It's been around for a couple of years at least. The question mark has to be though: how financially strong are they? My guess is that they're a pretty small operation.
The ECN/MT4 combo was new to me, didn't know that. Puts them in the same category as MB Trading then. Only two companies I've herad of that combine ECN and MT4.
I think that they might be worth a try, with the caveat about how strong they are capital wise.