Actually, Dukascopy lowered their minimum deposit a while ago, it’s 1000 USD now.
They’re also supposedly working on an MT4 offering but that’s been there for over a year so who knows when that’ll see the light of day.
not exactly, you are allowed to open a 1000 dollar deposit acount (only) if you intend to open a real acount later, the 1000 dollar acount is just a demo for real cash, I doubt you get the real deal in it too. thats what I saw when I tried to signup with them, and also I dont know how long it will last. maybe you have a specific time to test them out and then they close it down?
Well u can always choose fxopen ecn, who have a lower requirement than Dukascopy (and dukascopy feed fxopen).
Isn’t FXOpen a true ECN broker?
Yes FXOpen ECN accounts are true ECN accounts.
fxopen has two accounts. a standard account, and an ECN account. take ur pick
is anyone aware of a Fx broker with level 2? must be ECN
and not US based
To trade with level 2 as you said it has to be a Real ECN broker, there is no possibility to trade level 2 with a standard platform like mt4, only with trading platforms that are connected directly to the banks like Currenex or Hotspot. From my own long time experience in the market, real ECN brokers that allows you to trade level 2 are Sunbird and CMS.
With FXOpen’s ECN, MT4 is just an interface. Once the orders are passed into the ECN bridge, they do indeed appear in Lvl II. Actually it is technically possible to trade an FXOpen ECN account with any platform with fix API ability. Rumour has it that alternatives to MT4 on multiple platforms may appear from FXOpen soon 
You can get a Level 2 with MBT in their platform, but the best spreads and execution combination I think is their FREE EXN plan which only works on MT4. Take a look at the spreads, they are the tightest I’ve seen yet and the executions (so far after a week) appear to be very real and fast. And, you can post between the spread and it still shows up immediately…still no fee…amazing!
[B]Hello Fxfrench.[/B]
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i am from India and i want to open a true ECN/STP a/c with FxOpen. do you have local support here in India, if not then wats the procedure?
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Can u pls name the brokers or banks or liquidity partners where the orders are finally executed? i am asking this bcos one broker by the name of DeltaTrading has revealed all the name of their 5 brokers and banks with which they have formed their liquidity pool/mkt. Their Liquity pool consist of Dukas, Citibank, IB, FXCM and Delta themselves ( they also have a option not to trade with Delta themselves so as to avoid the conflict of interest.) This is good bcos we know with whom we are finally dealing with and it also help in determining the true ecn broker from a fake ecn broker. Delta trading even shows the ask n bid price from their all 5 partners and provides the best spreads, this is 100% transparency, Thank You very much.
Hello.
Well there’s a simple answer to your question??? Surely??? I mean: you’ve answered YOURSELF??? Deltastock is the BEST (not just ‘GOOD’)!!! LOL!!!
PLUS: you get my UNDIVIDED attention when required!!! LOL!!!
Regards,
Dale.
Hi
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FXOpen doesn’t have a representative office in India in accordance with Indian law. We do not have a license there. You are free however to just open an account via our website.
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We have a lot of liquidity providers such as RBS, Barclays, Citi, Hotspotfxi, Dukascopy, Alpari, forex.com, UBS and about 20 more. If you want to know who the counterparty is on any of your ECN trades with FXOpen, you only need to ask
Thank You Both dpaterso and fxfrench for the kind help.
Are you just trying to show off or what??? LOL!!!
Regards,
Dale.
lol … it’s normal for a serious ECN broker to display his LPs, isn’t it?
Mine has a scrolling list of banners from CitiBank, Deutsche Bank, UBS etx right on his landing page.
It’s a way for a broker to show he’s a serious business partner.
O.
You know what:
This just got me to thinking about something (and just BY THE WAY fxfrench I WAS only joking with you i.e. I thought I’d better mention that because ALL MANNER of BAD things sometimes happen when my humour is taken the wrong way or misunderstood AS MOST OF US ARE WELL AWARE)!!! LOL!!!
How come it would appear to me that’s it’s possible to be trading with a most honest and reliable broker but who may have a liquidity provider that is of, let’s say, ‘ill repute’, insofar as traders trading DIRECTLY with the same liquidity provider (the liquidity provider would then BE the trader’s BROKER in other words)???
Just ‘thinking aloud’ I guess.
You’ve got to be SOOO careful in this business let me tell you. I know OF a guy (NOT personally but I have seen the guy’s website) who is registered with, and regulated by, our Financial Services Board and who manages funds on behalf of clients (‘Joe Public’). He is ALSO an Introducing Broker for the broker where he trades client (‘Joe Public’s’) funds. And YET: the BROKER is a KNOWN scam artist and ‘lowlife bottom feeder bucketshop’. And oddly enough while I was typing this: guess what or WHO came to mind??? ‘Uncle Bernie’ (as in Madoff)!!! Remember all of those ‘feeder funds’ the likes of some of the HUGE well known and OVER-REGULATED investment firms and banks???
Just ‘thinking aloud’ again really (call it ‘musings’ if you like).
Regards,
Dale.
Yep, this business tends to be a bit (quite a bit) obscure/shadowy at times.
That’s why it is so important to really choose your broker carefully … not only in respect of his own business practices and performance but also in regard of who he is working with.
Seeing a broker in a well-governed country (Europe, USA, Australia), being regulated by that country’s official agency and working with well-known banks and LPs gives one a nice, warm feeling, hehe.
As an additional safety measure, one might like to do what Simon Templar described in some thread on this forum: only keep an amount of money on your trading account which is protected by the respective country’s laws (i.e. between 20,000 and 50,000 dollars in most cases); withdraw any excess funds to your regular bank account. You can then calculate your risk using the combined funds in your trading account and the bank account you use to deposit your profits, while being secure in the knowledge that all your money is safe.
Using this method your broker might think you slightly mad, because you appear to be risking a huge percentage of your trading account on a single trade, of course … but that’s irrelevant.
The idea of building a trading account to a million bucks and then having the broker go bust and only being insured up to 50k is not a nice one, hehe (which is why I’d only work with a broker who keeps his customers’ funds in segregated accounts of a reputable bank).
Cheers,
O.
oliver1968 which ECN/STP broker are u using and hows ur experience with them, thanks
I’m running a ‘Razor Account’ with Pepperstone.
So far, I have no complaints about them: spreads are tight and reliable, execution time is fine, customer support by chat and email is friendly, competent, and very fast (emails are answered within a few hours max).
Since I have not withdrawn funds from them yet, I cannot comment on that; judging from their general performance I expect funding/withdrawal to be without problems though.
I like the fact that they offer local bank transfer for funding, which elimininates the wire transfer costs (if you fund EUR 750 or more, otherwise 50% of the regular wire transfer fee are charged; I don’t know about minimum accounts in other currencies).
Trading accounts may be run in eight different currencies, which eliminates exchange fees.
O.