Which ECN's has the lowest deposit requirment?

[mindofapip]

I've been wondering about this, it seems that usually the ECN's (non-dealing desk ecn's) require larger deposit minimums, but if I have the option to go straight to the reliables that are not retail or market makers then by all means I'd leap in. I do not have more than $1k to put in. So which ECN's has the lowest deposit requirment?

Thanks...

[honeb]

ive been wondering the same thing too but i havent found an ECN that offers a minimum initial margin lower then 5000 bucks and they dont offer anything lower lots lower then 10k. so 1000 dollars is not a realistic start for an ECN. be very careful if you find an ECN that offers micro lots and low depsits. some MM make the claim that they are non-dealing desk. All of the true ECNs ive seen require you to deposite a high initial margin. they also dont allow you trade with anything smaller then mini lots. but you you do find something good, please let us know. im still looking, myself.

[jonjon5000]

Based on my research, EFXGroup is the only ECN with <$1000 initial deposit. It's $400, to be exact.

[piprosterous]

I assume the reason why ECNs require a relatively high initial deposit and offer low leverage (compared to others) is due to the type of client they are targeted.

Experienced and professional traders.

Their platforms are tailored for their style which I believe is the correct way - low risk, low leveraged trades.

ECN brokers don't want high client turnover (blown accounts). It's much easier (and more profitable) to retain clients than to constantly try and acquire new ones after your existing ones blow and close their accounts (suckers).

Or at least it'll take the client a lil bit longer to blow their entire account.

[mindofapip]

Thanks guys for the replies, yes I knew about EFX Group, which one has a minimum of $5000-$15000 deposit, anyone know?

Appreciate it thanks in advance.

[goodpress]

Oanda has a zero deposit requirement to open either an fxgame or fxtrade account.

[seihes]

I heard that Oanda isn't an ECN broker. Am I wrong?

[mindofapip]

Oanda is NOT an ecn broker. So you are right, they are market makers.

[mtdavs]

MBT offers a min of $400 to start. Not a bad Broker at all!!

[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.