FXOpen ECN/STP

[fxfrench]

Got questions about FXOpen's ECN/STP service?

In 2009, FXOpen was the first broker to introduce true ECN/STP accounts in MT4. FXOpen's ECN/STP MT4 bridge was designed in house and alleviates many of the problems traders may have scalping or news trading on the MT4 platform.

With instant execution (measured in milliseconds), no dealing desk, no requotes or other problems, and low interbank spreads from 0.5 pips, FXOpen's ECN/STP accounts are perfect for scalpers!

FXOpen's ECN/STP accounts route your orders directly to another trader or liquidity provider. The broker never takes the opposing side as your counterparty (FXOpen won't hunt stops or trade against you!)

This thread can be for ECN/STP discussions only. Please use another thread for Market Maker accounts.

[Antje Wagner]

What I actually not understand is how to offer instant execution if they are - or pretend to be - STP... it should be market execution, not??

[fxfrench]

What I actually not understand is how to offer instant execution if they are - or pretend to be - STP... it should be market execution, not??

ECN execution is instant as there is no middle man, no dealing desk between you and the other person matched with you. STP trades (less than 1.00 standard lot) are aggregated at the Prime Broker level (Large liquidity provider or Bank) then sent through on an STP basis. STP is still instant as the process of aggregation is seamless. It may add 100 milliseconds or so to the execution to go via STP, but the delay is not noticeable.

The end result is that you can trade mini lots from 0.10 lots and up in 0.01 lot increments, and still take advantage of ECN execution.

1.00 lots volume and up is of course sent directly via ECN without aggregation and you can see such orders in the LVL II order book.

[Antje Wagner]

and if you have an STP with market execution?

[fxfrench]

and if you have an STP with market execution?

The execution speed is still the same. Lightning fast as you would expect of a professional ECN account.

[Antje Wagner]

aha, here we go... so actually it would be better to have STP with market execution.

What I learned is...
With market execution you accept everything you get from your broker.
Instant execution works with all pairs, and here if you see thar quotes, given by broker are different from market you can not to accept it. and broker will give you requote.

What I learned as well is...
Instant execution is primarily used by Dealing Desk brokers and Market Execution is used by No Dealing Desk brokers.

[pippincream]

Hi there,

I'd like to know please, what is your minimum deposit??

[optimistic911]

Hi there,

I'd like to know please, what is your minimum deposit??

They have various amounts for the various account types. You can get that from their website.

[lasereyes]

Ive read on the FSC website that FXOpen got their licence pulled. I don't currently do business with FXopen, but I was considering switching until I saw this. Is there any explanation you can offer me?

[fxfrench]

Hi there,

I'd like to know please, what is your minimum deposit??

Hi Pippincream

The minimum deposits are as follows..

Micro - $1
Standard - $25
ECN/STP - $1000

Ive read on the FSC website that FXOpen got their licence pulled. I don't currently do business with FXopen, but I was considering switching until I saw this. Is there any explanation you can offer me?

Hi Lasereyes

The Mauritius FSC didn't give a reason or notice for their actions so there really is no explanation for it. I can guarantee you that it was not the result of a client complaint. 5 other companies were affected in the same announcement.
We continue to work from our other offices without disruption. We were already in the advanced stages of obtaining more recognised regulatory memberships in 2 major jurisdictions(not offshore) before the FSC decided to act anyway and we will announce the details soon.