If so, which?
Thanks,
Sharedealer
i am not using ECN brokers but I think it is not a very transparent brokers. People who have used it says that there is an issue of transparency with them.
I have never heard of any transparency issue from ECN brokers. They are good brokers and I think they are quite trusted among forex traders. Though it would be interested what issues they are having.
I use Dukascopy. There are no transparency issues, quite the opposite. You are dealing with the direct interbank market and can see the real bids and offers. You are charged a commission to trade and the spread is as dictated by the liquidity in the market at the time
I am in correspondence with EFX. They have been setting up their new Remote Trader platform which shows the bids/asks but also includes full charting.
It is now complete and the live traders have been transferred onto it. The demo version will be ready any day now and I will be testing it.
Me, too! I’ve demoed their non-chart platform and love it. I can’t wait for the integrated charts.
Terry
I think you’re confusing ECN’s with Market Makers, which is what most Forex brokers are. Market Makers have major transparency issues, since there is no transparency with them! 
Terry
Me, too! I’ve demoed their non-chart platform and love it.
Lucky you. I have not even done that much yet. Still, it should not take too long to get the gist of it. I wonder it the charts will be as good as those of GFT? Probably not.
Being a candlestick scalper, I hope they offer many intraday time frames. And nice looking candles! 
ACM is the biggest ECN/STP broker that I know of. They also have great charting software, i’ve used MT4 so I can compare the two.
How much are their round turn commission costs across the majors?
To be a [B]true[/B] ECN, I guess they must allow you to show your own size in the system so that it’s visible to other customers, and therefore allow those customers to hit the orders, yeah?
They also allow you to hit your competitor (fellow trader) orders down to a tenth of a pip then I’d imagine?
How flexible are their spreads in (the doldrums) low volume periods?
I’d be very interested in hearing ACM’s GBPJPY spread during London business hours…2 pip avg?? Euro: choice-1? Cable: choice-1? same on Yen & Swiss?
I use Interactive Brokers which charges a flat commision of $2.50 per side. The spread on most majors is 1pip. Slippage and scalping is not an issue.
They will not hold your hand, so if you dont need any help and have your own charts, this is the best way to go.
Totally agree, well said that man! IB are also discussed on the accompanying thread:
http://forums.babypips.com/newbie-island/8295-how-do-you-know-whick-brokers-real-ecn-brokers-2.html
There are also a couple alternative options for the retail trader to explore (Hotspot FXi & EFX Group) if they’re intending seeking a fairer execution platform to the mass marketing BS of the bucketshop brigade.
If you’re even semi serious about forging a positive path in FX, you’ll choose your execution provider extremely carefully.
As ever, you get exactly what you pay for in this business!
EFX Group vs Mbtrading, I know efx group is an introducing broker to mbtrading but what does that mean?!?!?!
If I decide to get an account with EFX will I be screwed in any way, since efx has to pay fees to mbtrading will that be higher commission to cover that?
I was going to call efx tomorrow and ask’em some questions but since you guys are discussing ECNs I thought I give it a shot…
Shouldn’t be any detriment in using EFX over MB pipraider. Certainly not regards ‘screwing’ anyone over re; fee’s & costs.
Do as you were intending & call them both? That’s the very least folks should do anyway before parting with money.
I’m at an impass for opening a new account with a broker. Between EFX and MBTrading… Any opinions? I know they are the same company essentially (same platform too), but what are the real differences when it comes to commissions and fees? I’ve heard that MBTrading will close trades everyday at 5pm EST to calculate interest and so its not the best broker to use if you swing trade anything.
Thanks in advance for any insight. I’ve read through all the forexbastards reviews for both of them and it didn’t really answer my questions.
I heard that an ECN has to do that but I think you misunderstood by “closing positions” because brokers have to do that too its just that they close it and then reopen the position(I read it like a month ago somewhere… so not 100% sure), …and sure you are not going to see whats going on for 15 mins at 5est and then another 15min midnight but I believe ECNs are the best, btw mbtrading and EFX have the same fees so I decided to go with EFX mostly because they will release a new platform which seems all’right
you could just put a trailing stop, limit, stop right before they go down and it should be fine. It may seem like a hassle but at lest ECNs dont jack up the spreads and they allow scalping and best of all NO REQOTES (today Ive been reqoted 3 times on my platform grrr)