FXD - Forex Trading Forum

ECN or Market Maker Broker

This is a discussion on ECN or Market Maker Broker within the Forex Beginners forums, part of the Forex University category; I intend to Scalp (as a test bed), but have read that many companies frown on this method, while others ...


Go Back   FXD - Forex Trading Forum > Forex University > Forex Beginners

Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

Register now at our forex forum to hide these ads - it's free and it's quick!

Reply

 

LinkBack Thread Tools
  #1  
Old 07-15-09, 01:59 AM
Junior Member
 
Join Date: Jun 2009
Posts: 3
Default ECN or Market Maker Broker

I intend to Scalp (as a test bed), but have read that many companies frown on this method, while others don't mind?

Is anyone using a ECN?
If so...which one and why?

I will using MT4?
Is that the correct one?

Alternatives ?
Reply With Quote
  #2  
Old 07-16-09, 01:03 AM
Junior Member
 
Join Date: Jul 2009
Posts: 10
Send a message via Skype™ to FirePips
Smile

Regarding of your trading style you want to trade with an ECN broker. ECN brokers get the liquidity and spreads straight from banks and hence have tighter spreads and better fills. Though they charge commission but you are better off paying commission rather than higher spreads.

Market Makers are usually notorious for manipulating prices in their favor and some also take opposite positions when you trade. Plus the spreads are higher.

In my opinion MBT, Dukascopy and FXCM Active Trader are good brokers. I use all three of them and had no problem.

Regarding MT4, you can use MT4 demo for charting and use any broker to place trades. Unless you want to run an EA then you need a broker with MT4.
Though don't just chose any MT4 demo...read my post "Are You Using Right Charts For Forex Trading?" on my blog.
Reply With Quote
  #3  
Old 09-14-09, 04:25 AM
Junior Member
 
Join Date: Aug 2009
Posts: 19
Default

i agree with firepips.
Reply With Quote
  #4  
Old 10-14-09, 09:57 PM
Junior Member
 
Join Date: Jul 2009
Posts: 15
Default

I don’t understand, aren’t brokers like FXCM market makers???
Because you say those are no good but then you recommend them…

Can you explain me the real diff between those two kinds of brokers??
I see that comparison made a lot and don’t understand it very much, please understand that I’m still learning about this market and every tip of information you can give me will be great!
Thanks a lot!!!
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT +1. The time now is 08:33 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.2.0 ©2008, Crawlability, Inc.
Copyright (c) 2009-2010 Senza Limiti s.r.o.