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 ...
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#1
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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 ? |
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#2
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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. |
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#3
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i agree with firepips.
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#4
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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!!! |
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