Is there truly an ECN broker out there?

Is there a truly retail ECN broker out there?

Many of the forex brokers are just bucket-shops, many of them claim to be ECN but are just market makers. Some even go as far as claiming to have both system.

The truth is once a broker is a market maker, then sometimes they will try or successfully manipulate your trades and at least make sure you lose, it is can be stop loss hunting especially during violate markets or slippage.

Many of the popular ECN brokers do not send lots of trades to interbank or liquid providers instead they hedge them in house, then wait for the trade to end up as a loss to make profit from it. If this trade ends up in profit, of course the broker is sad and will try to manipulate with you the next time. I currently trade with Dukascopy Europe and after trading with them for more than 2 years i can say that this broker is not attending to my best interest.

Dukascopy have a lot to offer and it is truly a good broker, but recently i started noticing the very wide gap in slippage, freezing platform. Once i got slippage more than 50 pips.

Right i am back to square one, looking for a reasonable ECN broker and this time one that uses MT4.

One of the major reason why traders end up in losses is cause by the brokers, of course the other reason includes overconfidence and fear compounded with stupid trading strategies.

But once your broker is feeding you wrong data and manipulating with your trades which is what market makers regularly do, your indicators will be making wrong calculations and you will definitely end up blowing your account, that is why as a trader at the mercy of the brokers we are mostly dead on arrival.

Can anyone recommend true ECN broker that uses MT4 and if regulated in EU.

Let me offer some advice that I never took when I was new to trading. In one of the threads they were comparing ECN and Market Makers. Of course the standard reply from ECN brokers or anyone who offered ECN said they don’t see your trades they go right to market. The standard reply for Market Makers is they stop hunt, they’re all bucket chops, they take the other end of your trade, doesn’t matter if they say ECN if they’re a market maker they are taking your trade. This is a win lose business; for you to win, someone has to lose.

In the midst of the thread someone and I’m sorry I can’t remember which member said " sooner or later if you trade in the forex someone is always at the other end of your trade. If you lthink only brokers manipulate the forex, catch todays news about the 5 banks who were fined for manipulation.

The truth is in my opinion don’t waste your time trying to pick a broker based on if they are a Market Maker or ECN. No matter who the broker spend is spend your time researching the broker on amongst other things: what about slipage? Do you take the other end of my trade or do you farm it out to another market maker and you both live on the commission? What forums do you have an active thread on. Search broker reviews. By its self one review is worth nothing, but if you get a lot of it’s a duck. . .then it’s probably a duck. How long in business etc. I have a broker information sheet that I send to anyone I’m thinking of doing business with that lists questions I have. There’s a lot more to trading long term than slippage. Anyway only my opinion. Hope it helps.
Gp

If you started a thread (maybe we should) who uses a market maker, who uses STP, who uses ECN, I think we’d find that there are a lot of traders who use one or the other and some like me that use all three depending on the situation.

I use MM and ECN.

@gp00053

Yes i believe you gave a very valid point there, at one point someone will have to be at the other side of the trade, that is why it is a zero sum game.

But the problem is when i am fighting a battle and my opponent is the referee, the prize keeper and the judge. In this case i think i am dead on arrival, because even if he let me win many times, sometimes he will still harm me and that harm can cause lots of confusion.

Can you recommend to me some broker i can try, it is be nice if you can recommend at least one of each;

Market Maker
STP
ECN

Thanks