Which ECN's has the lowest deposit requirment?

[mcphrant]

Originally Posted by jonjon5000

MBT and EFX are the same group. EFX was just created to appeal more to the Forex crowd. In any case, I heard the daughter company, EFX, is better.

Agreed. Their customer service is excellent. Use to be with OANDA but left after their 200pip-widening fiasco with NFP earlier this month. Went to EFX and so far so good. The only drawback is that the platform takes some getting used to, but they do provide training by webinar, and you can call customer service to clarify at any time.

[senaka7]

Originally Posted by mcphrant

Agreed. Their customer service is excellent. Use to be with OANDA but left after their 200pip-widening fiasco with NFP earlier this month. Went to EFX and so far so good. The only drawback is that the platform takes some getting used to, but they do provide training by webinar, and you can call customer service to clarify at any time.

How is the liquidity at EFX. What sort of lot sizes you trade? Does your order gets filled instantly at all times even during the news volatile times?

Please let us know.Thanks

[wiseman12]

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[jonathan]

Originally Posted by senaka7

How is the liquidity at EFX. What sort of lot sizes you trade? Does your order gets filled instantly at all times even during the news volatile times?

Please let us know.Thanks

The liquidity would be better than any of those bucketshops most people trade at. EFX is the real deal and you're trading on the REAL 2 trillion dollar market. Unless your broker uses ECN or STP, then you aren't really trading or affecting the real market.

Or that's at least how I understand it.

[mcphrant]

Originally Posted by senaka7

How is the liquidity at EFX. What sort of lot sizes you trade? Does your order gets filled instantly at all times even during the news volatile times?

Please let us know.Thanks

I trade 10 mini-lots at a time, and I really do not trade the news as a rule. To date, the order execution is excellent, and using their level 2 screen you can actually see their liquidity in the market at any time of the day. I trade the GBPUSD mainly, and using this broker to get into a trade say a couple of minutes after news when fundamentals and technicals are in agreement is great, because many times the increased volume delivers a 1 pip spread and sometimes even zero. Rarely do I get a spread higher than 2 pips. This is however offset by commission paid which on this pair is approx. 2pips round-trip which means that you willl average 3pips per complete trade on the GBPUSD pair.
I however did trade the GBP retail sales last last Thursday morning having read a report that the numbers were to come worst than expected, minutes before I placed a sell stop limit order 15 pips below the price and got filled within a 5 pip range as specified by my order. The beauty here is, if there was not a price within my range my order would not be filled and be canceled. I hope this helps in your decision.

[senaka7]

Thanks for the Info mcphrant,

I have been thinking of move my account to EFX for a while. I've had few unsuccessful attempts to learn their platform previously.