I am looking for more comparison for ECN commissions. I am now trading with Yadix Broker who have low ECN commissions compared to most big brokers.
On their Pro account, I am getting ECN commission charged 0.7 pips in total, when you compare to bigger brokers, its much cheaper. The spreads on majors start from 0 pips, so my total costs for one round lot can be 0.7 pips.
I see some market makers offer lower commissions however with the liquidity costs its obvious that they are putting the orders through their dealing desk. I need true DMA for my strategy to work
i trade with Tickmill,ex armada markets.they are already online for years and claimed has 20 liqudity providers.
one of inovative brokers and they are the 1st one who applied 0.4 pips commisions for one turn lot (around $4 per lot)
so far they are good brokers
Tickmill might have pretty competitive coms but fact that they are regulated on Seychelles means that I would never use this broker…There are plenty of ASIC and FCA regulated brokers today which offer more security than Tickmill…
Agree with mastregame. Regulation is important to me as well.
I’m comparing the spreads here: Spreads | Myfxbook and as I can see FXOpen has the lowest spreads and 1.8$ commission. Regulated by ASIC and FCA.
Thanks for the responses but I am not looking for dealing desk/market maker comparisons. I need true STP.
I don’t know how an STP broker can charge less than $4 or $2 if they are using proper bank liquidity, it doesn’t make sense, do they get liquidity for free?
And why do you think the broker is a market maker? ECN/STP technology implies NDD:
ECN, which stands for Electronic Communication Network, really is the way of the future for the Foreign Exchange Markets. ECN can best be described as a bridge linking smaller market participants with tier-1 liquidity providers through a FOREX ECN Broker.
I think the sizes of commissions depend on LPs and brokers’ greed)))))
What is the minimum lotsize you can trade on these accounts? I understand for ECN the smallest lot size is 1 lot. When you can trade smaller I assume it is not true ECN.
But LMAX is an MTF and they provide brokers services. So I understand that they offer 0.01 as retail brokers normally work with 0.01, but I don’t think that you will have Citibank as your counterparty for your 0.01 lot contract. They probably nett retail traders with each other on behalf of a retail broker. This is not ECN like Currenex.
But I can be wrong. Anyway, the only account is see requires a $10,000 deposit. I don’t think that you will be trading 0.01 lots by that time.
Let me clarify. We use the aggregator for different feeds. For example, we have 10+ LPs and internal Client’s liquidity. Clients in our system match the best offer available from one or several LPs or, in the best-case scenario, another FXO Client with the opposite order of the same price and at the same time. This is a true ECN. As for 0.01 volume size, several LPs in our feed provide such a volume size option, so I see no problem in executing.
Sir, I have come across very few brokers like that. One such broker I could think of because I am myself trading with them is Finpro Trading. they are charging $4 per 100k. Its an ECN account and I majorly trade on EURUSD pair and oil.The preads on the EURUSD in most of the times like 0.4 or 0.3 pips. Its been 3 months I am trading with them. they are good. atleast no scam till now.
anybody trade with Vipromarkets? a CySEC regulated broker?
i wanna hear your experience with this new broker if any. because i love the fact they offer low commisions trading too
I heard that HotForex VIP account is a good ECN account with a commission of only $5 or $6 per lot, I don’t remember exactly. The thing is, you need 10k minimum deposit for that account…
STP is much better than ECN guys, I recommended Mayzus broker that having incredible account types based on STP account. Its REAL STP not cheap STP account.
more detail you can check here https://www.mayzus.com/account-types.html
I just don’t want to repeat again, but the topic makes me to do so, I found that OctaFX spreads are rather fair, but actually they grow higher, when market moves faster and faster. They also do not have commissions at all, as I see.
