Need some recommendations regarding TRUE, ECN brokers

Beginner Questions
1

Good evening!!
can anyone recommend me a regulated REAL, ECN broker?
I’ve heard some brokers say they are ECN when in reality they are not.
I’ve read that IC Market (Australian broker) is a real ECN broker, is it?
FXCM and OANDA, are they ECN brokers too?
What about Alpary?
Dukascopy?
Hotforex?

thanks and cheers!!

2

Watch this first

Then this. Use the search to get several ECN regulated brokers, then same site use the side by side comparison to find the best ones.
Forex Brokers Comparison

Hope that helps
Gp

3

Maybe have a look at Interactive Brokers?

interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Fpdfhighlights%2FPDF-Forex.php

Or if you want to guarantee you get crossed with other participants over a tight spread rather than bucketed, why not just trade currency futures?

Hope that helps!

Nick

4

Hi dandar,

FXCM uses No Dealing Desk forex execution. You may often hear other traders refer to it as NDD or STP. 10+ liquidity providers stream prices to FXCM and the best bid/ask price is then streamed onto the platform with a pip mark-up that acts as FXCM’s compensation. Every order you place is offset one-for-one with one of 10+ liquidity providers, eliminating the conflict of interest you may encounter when trading with a market maker broker. Here’s a video detailing how it works step by step.

Let me know if you have any questions, and good luck with your search!

Jason

5

But fxcm’s spreads are way too high, your too greedy with it.

6

thank you for your advice!

7

thank you Jason

8

HotForex is true STP/ECN NDD broker, you can trade with it.

9

Bro, happy with IC Markets. Registration took 20 mins on a Sunday night and was trading Monday. Customer service so fair very good. And cost of trading of only 0.7 to 0.9 of a pip on the EURUSD, doesn’t get much better than that.

10

Hi MrQuickBuy,

FXCM US now offers raw FX spreads and the mark-ups previously included in the spread have been replaced with low commissions.* These super tight new spreads are ideal for scalping and provide increased execution benefits to stop and limit orders.

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  • In some instances, accounts for clients of certain intermediaries are subject to a markup.

That means when trading 10k of EUR/USD, you would pay 0.2 pips in spread cost plus 80 cents in round turn commission (40 cents per side). That’s $1 in total transaction cost or 1 pip on a 10k trade, compared to our previous spread of 2.5 pips. That’s a 60% reduction in cost.

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1 Listed spreads and commissions will not apply to some customer accounts due to their relationship with certain intermediaries.

11

Hello,

If anyone is struggling with any of the terminology used in this thread then this will probably help.

Nick