This is what a Broker told me:
“This does not have any real advantages and has actually caused a few brokers issues with massive spreads and price ranges.”
Does it really have no advantages ? what do you guys think ?
ECN forex brokers are those that use the electronic communication networks. They consolidate price quotation from several liquidity providers or market participants, which is why they offer lower/tighter spreads. One of the reasons why you should choose an ECN broker or open an ECN account is that such broker cannot trade against you. Another feature of an ECN broker is that they charge a fixed commission per trade, and as a result they do not markup spreads. The charges are usually very low. Whether it is an offshore forex broker or a broker based in US/Uk, an ECN broker is highly recommended. We are ECN/STP.
“I have noticed that profiforex offers both fixed and variable spreads. The variable spreads are really low anyway, and the fixed spread for EURUSD is 2pip. There is a 0.3pip fee when I trade the variable spread (very low though), I don’t mind, but My question is this, why is it that Profiforex does not charge a fee whenever I trade the fixed spread?”
Do you use Profiforex ?, i actually have never heard of them.
What do you think about their services ? Their reviews are really negative !
Market Maker Broker ,my opinion , is close to a casino operation.
I almost cracked my Ribs after reading your posts. Well, first post is a question, second post is from a forum user who probably knows nothing about this broker or is very much new to forex. Actually Profiforex is an ECN/STP broker and not a market maker; the Traders Choice. Many US traders choose them because of how transparent and open they are. They do not lie about where they are located neither do they steal from clients like some of the Big names do. There are so many forex brokers online and this is why it is not surprising when some persons say they’ve not heard of Profiforex. For the record, every forex broker have negative reviews even the biggest one of them. If you have never heard of a broker and it was suggest to you, the best thing to do is check them out or give em a try instead of spoiling the good name of a forex broker ignorantly.
Ludo, I think you should contact their customer service directly