Newbie wants ecn? or atleast thinks they do

Broker Discussion Forex Brokers
1

Hi Everybody,

Im very new to this. Ive been trading with Oanda for about a month. I think an ECN broker might suit me more.

Its my understanding that an ECN doesnt have a spread between the buy and sell price. Instead it charges a commission. Is this wrong? If its right how do they charge this commission? Is it on the amount you make or on the amount you have in your account or how much you trade or what?

Also whats a good ecn broker for beginner? Ive only got about a thousand dollars.

Thanks for any help guys,

Thanks:D

2

well fxopen offers both the standard and ecn accounts. so you can test out either one, and see which one you prefer.

3

there are a few good ecns… fxopen, mbtrading, dukascopy, take ur pick.

4

I concur. Also, MBTrading pays $1.95 per mini lot for limit orders.

5

ECN has a spread between the buy/sell prices. But it will be at most time lower then at any fixed spread on MarketMakers. The spreads, can go as low as 0, at some market conditions.
ECN brokers, charge a fixed commission (transaction fees) which equals about 3$~ for 1 lot. So in any case, this is cheaper. This the only fee you will have to pay, while trading with ECN brokers.
All the ECN brokers are OK. The only thing, you have to find a TRUE ECN broker, since there are a lot of fake ones.
ECN brokers, are interested for you, to have as long as possible trading period, since they only charge the transaction fees, they have a direct interest for you being successful and to trade with more lots and more times. So instead of being against you, they are interested in your success.