Stp/ecn?

Beginner Questions
1

Hi all,
PLEASE HELP, I’ve been trying to research a stp/ecn broker now for a week or so, and I’m having real problems finding one with decent reviews.
I want one in the UK who uses mt4 with a good variety for me to trade.
Am i asking too much ? I definitely want to stay away from MM’s but am really worried where to put my money. Has anyone any real experience with a good genuine broker ?
any direction will be gratefully appreciated.
matt

2

Why do you worry about reviews from people you do not know? Finding a good ECN broker in the UK should not be a problem at all.

3

Yes, that’s true, there are quite a few good brokers based in UK and in other european countries such as Cyprus which are also registered under FCA. You just need to make your search a bit deeper.

4

There are plenty of broker ratings, what do you think about them? can traders trust that information?

5

You should know that Straight Through Processing/Electronic Communication Network dealers often forward your order straight through the electronic communication network to a market maker.

Do not be afraid of market makers, they are your friend as a trader and the hype about how evil they are is simply bullshix marketing from dealers who want to scare you away from their competition while they actually are market makers themselves or they are just order takers who send your order to a market maker and charge you a fee in addition to the spread you paid the market maker.

Your options are:

  1. Choose a dealer on some assumption that he is the “best” or “safest” dealer as claimed by strangers and risk putting all your trading capital with him.

  2. Get so scared of dealers that you simply don’t deposit money with any of them.

  3. Put only small amounts of your trading capital in a portfolio of accounts with many dealers to minimize your risk with any given dealer and give you personal experience with each of the dealers you try so you can know for yourself what each of them are like.

I personally have chosen 3.

May the forx be with you and may you profit like a prophet.

-Adrian

6

I have never trusted the ratings.

7

It was harder for me to find A forex broker than it was when I traded Futures years ago.I dont know why but it seems to be the nature of the forex beast. I never hear of traders worrying about things we hear about forex brokers. Why is that I dont know. The reason probably to long to really find out. From bad traders not taking responsibility to the brokers that are bad to paranoia.
Just ramblings from a mad man so take from it what u will.

8

Thank you all

9

Stp/ecn i can say offer the best compare to market makers. With stp/ecn you have less issues and worry because you rarely experience requote and have more transparent transactions of trades.

10

I could be wrong but eventually I believe trades reach a MM no matter what. Could be wrong plz correct me if wrong.

11

I think most of them if not all are being sponsored or paid to be on the rankings