Which of the broker please
The first thin g that a trader needs to do is to find a right broker who can give them huge benefits in the future. You people are advised to choose the broker which has reputation on the forex market and you have trust in his actuality and fuctionality.
Pure ECN brokers are those brokers who provide the access to the deepest liquidity pool and tightest spreads starting from 0.0 pip. They never trade against the client and earn profit by charging lower commissions and fees. They limit price manipulation and provides with the best market prices. They provide good execution speed with lower latency
Not an easy job to find one, but the real ECN broker would offer offers a clear platform where traders, banks, organizations can play against each other. Usually they can send bids and offers to each other. Also usually traders are getting their best deals for their order at the particular time.
Dont fall for the marketing used by brokers or fashionable buzzwords.
You will be trading on an “ECN” when you are a consistently profitable trader. The broker will not risk keeping your order in house but they will take their commission and pay a small fee to process your order with a liquidity provider… Consistently profitable traders are like hot potatoes. Everyone is trying to pass on the risk to someone else.
If you are a consistent loser, your deals remain in house because you contribute more positively to the brokers P n L.
Its as simple as that and they have the tools to determine who is a risk and who is not. If you want to trade on an ECN, be consistently profitable.
CPA’s (cost per acquisition) are high in this industry. In the hundreds of Dollars per client. Do you think they can recover these costs, plus their other overheads from micro lot traders ( $200 deposits) generating 7 cents in commission per trade? These traders hardly generate a few round turn lots in commission for the broker before blowing their accounts. Many, probably never to be seen to deposit to trade again. Even many of those who deposit a few thousand Dollars wont generate hundreds of Dollars in commission before blowing their accounts.
Its far more profitable to keep the majority of traders orders in house because we all know the majority lose. Regardless, the pricing between the two, ECN or in house is the same. You wont know the difference.
Dont blame the broker for making a business decision to maximize their profits. The industry is very competitive.
Irrespective of this. The big banks and liquidity providers make the market, they are market makers and they are at the top of the food chain.
You either trade with or against a market maker. There is no getting around it.
true ecn broker,have never manupulate price and they direct provide your trades to bank and institutions,you can also see their quoted price in market watch for spread,if the spread is too much in news time the broker is not good ,i recommond you to try forexchief ,beacause it is true ecn broker.and also their quoted price is good not high spread becaouse of true ecn
Hi, I’am at beginner level in trading though there is risk involved, i know but wanted to make use of the money in a suitable way, and even i want genuine broker to trade, how do i know who is real and fake, would you have any broker in mind that comes, who has an certified ASIC and has been in the market for a long time.
You can try the market depth tools to place an order and to see whether it actually comes to the pool. If it does, the broker passes your order to the real market.
You can list those market depth tools. Because, I’m also looking
Sure, we have One Click Trading Plugin where you can see the market depth, best ask/bid prices, available liquidity.
IC Markets is ASIC regulated.
1 post and recommending a broker………jog on
AETOS Capital Group, also ASIC regulated
should i prefer only regulated brokers or there are few brokers that are not regulated but good for trading ?
From my experience I would say offshore brokers have better offerings as compared to regulated ones. But you need to be extra careful while going for an offshore broker. However, I’ve been spreading accounts and still running with them. Turnkey forex, Lmfx and Fxchoice are good ones. Better to check out their offerings yourself.
Who are they? Examples please?
Regulation is not the only consideration that should be taken into account but it is an important factor. You have to check the trading terms and conditions of the broker, the spread and commission, and, most importantly, its overall reputation.
Do traders choose a broker based on their regulation or is just from reviews and ratings ?
This would help.
The trading world is full of brokers but sadly not all are the legitimate ones. I think some of them exist only for the purpose of tricking the people into scams. In order to stay safe and find a real ECN broker, I would suggest you to read more about traders and look into their reviews and feedback on the forum communities. You can check it here and on forexpeacearmy forum as well for broker reviews. I personally like IG, Coinexx and Pepperstone as my brokers.