Do big account traders still use retail Platforms?

Hey guys just have a few questions for the succesful traders out there

I have in no way a big account. Just thinking (dreaming) into the far FAAR future…

Do millionaire traders use retail accounts (FXCM, Oanda etc)? Do they use ECNs? Do they use some other “institutional” top secret brokers that nooobody knows (insert spooky voice here)

Assuming you make all your money from a retail account (assuming its even possible)…At what size do you shift? 50k? 250k? 500k? 1m?

Is it even possible to trade with taht size in a retail account before you attract your brokers attention and they stop-hunt you to death?

How do you handle psychology wise your losses without being a nervous wreck? (If 1% loss = 10,000k I would b probably go bat**** crazy)

much thanks

There are brokers, just as Dukascopy, that specialize in higher value accounts, you just never hear about them on these forums because the big rollers don’t hang out here. They have better things to do, like spending their money… :smiley:

I think you need something in the 100k area before those brokers will even talk to you.

What other brokers specialize in higher value accounts?

I have looked at both Dukascopy, ib and mb trading websites and in all honesty it seems as though firms like fxcm, gft and ibfx outshine them in terms research, inovation etc.

Now im saying this completly from an outsiders perspective (dont have the millions to trade with these guys).

So outside of safety and possibly cost savings, if I was a millionaire swing trader (NOT a scalper) would it even matter if I was trading via an ecn or not?

I hope some of the more experienced traders out there would share their experiences with these brokers. I think you can open an account with said firms for around 20k so hopefully security will not be an issue for experienced traders in answering


I’d say safety and cost savings alone are reason enough…

I believe I read somewhere that some of those European ECN’s are insured up a a certain amount?? Can any large account traders help up out here. My account recently hit 5 digits and I need to start planning to take the next step in a couple years.

I would say most if not all BIG TRADERS, use an ECN. There are a number of reasons why. But, the main reason, is they are BETTER. They give you true market access and you are not trading within an artificial market where your Broker is your competition. Your broker is manipulating you, and your broker’s platform is manipulating you. You are basically buying or borrowing units from your BROKER. It’s not an even playing field. And your broker is on the other side because you are playing their market, and they keep CLOSE TABS on THEIR market.

Why do you think ECN brokers are making such a big push to re-program these platforms (MT4). It’s because these retail platforms were designed specifically for Market Makers, and by there design requirements. ECN brokers are basically in the stage of stripping these programs down to match their standards and the BIG client standards.

And this doesn’t mean all Market Makers are bad, I am not saying this is the only way to go and that Retail Brokers are all crooks. But for the majority, you are setup for failure from the beginning, and leverage has a lot to do with this, aside from platform manipulation (programmed into your platform) and other tactics and the fact that, it’s THEIR market.

ECN broker’s don’t give you (most of the time) more than 100:1 leverage, in rare cases maybe a maximum of 200:1. And the reason why is because your in the TRUE MARKET through an ECN. They aren’t trading against you, they are giving you access to the true market. Your playing with the big players. They want you to be successful. This doesn’t mean you will be. Market Makers allow up to 400:1 leverage for a specific reason, to drain your bank. This is a fact. There are NO ECN’s as far as I know, that allow over 100:1 leverage.

Why do you think it’s the only market that allows 400:1? Haha.

You can you can only open “Standard” accounts with ECN’s as far as I know, but if you manage to find a decent ECN that will allow you to open an account for $1000-$3500 (and there are some good ones out there that will, but not many, maybe 3-5 ECN Brokers out there), they will allow you to trade a Standard, but with Fractional Lots (.10 of a Lot, etc) so you can trade $1 per pip value, and so forth, as there are no Mini/Micro accounts with ECN.

This is why I am a partial fan of Oanda as a Market Maker because the 50:1 leverage. Too much leverage is not a good thing. The goal is to minimize your risk, manage your money, enter trades with the highest reward to risk ratio possible, and slowly but surely compound your account over time. If your account is growing and compounding in the tens of thousands, with a market so volatile, you will never need anything more than 100:1. Leverage is NOT a good thing, by any means.

So, I’m getting away from the topic a bit but, majority of big money players use ECN brokers. And the account minimum for ECN brokers can go all the way up to $50,000 to open a standard account for some of the top ECN brokers. And these smart money traders get better everything. They are in quicker, out quicker, no spread, no manipulation, no lock ups, no freezing, very small commission per unit amount, I can go on and on and on, and it’s the true market.

There are ECN’s out there that you can get into for I’ve seen, as little as $1000 like I mentioned above. You wouldn’t want to get in for any less with an ECN in my opinion. And you wouldn’t want to get in for much MORE. Why? Because the goal is to manage, minimize risk, compound and grow. Take your initial investment out, and some additional return, and repeat the process, over and over and over again. This how you accumulate wealth.

Phil you should be looking and researching to diversify your accounts over to ECN’s if you aren’t already. It’s not something you obviously want to do immediately but, if you’ve been compounding 3-4 figure small investment accounts with Market Makers into 5 figures and growing, diversifying with ECN brokers would be a smart choice. Doesn’t mean you have to stop trading Market Makers either. You can have multiple accounts. You may already have multiple accounts.

The only way I could see a big money player in a Market Maker or Artificial Market, is if they were joining WITH the Market Maker itself, and if the Market Maker gave them a distinct edge, or my lord, they were the Market Maker. Or in very rare cases IMO, if they started with a Market Maker and just feel more comfortable because they made their millions through that Market Maker. Why do you think they put a minimum cap on the capital requirements for Market Makers. I think it should be larger personally. Weed out more of these crook Brokers opening Markets for one pure reason, to drain your bank.

Thanks for the reply. Would you mind naming/recommending some ECNs?
I know of IB and MBT however some of the smaller ECNS even look very bucket-shop-ish…

As a matter of fact it seems as though the “market-makers” have platforms with more bells and whistles than most ecn platforms. Care to share your experiences as an ECN client regarding; charting, research etc?