Ikon royal forex is ECN broker...

Hi friends

Is there any MT 4 broker who lats us trade in commodities like copper, nickel, aluminium etc. ??

Windsor brokers..

lol... Royal is NOT an ECN... com'on man...

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Are you telling me you dont know how to check to see if is ECN quotes..?

With any broker..

Here's how I see it.

Y'all now know the rules of the game. So either you adapt or you get out. I see a lot of complaining and chest pumping...but yall still doing the same thing with your strategies and still using MT4. So it's just a bunch of hot air.

If they are going to employ this kind of strategy, the real pay off is on each trade because that's how they can play the game. Also, if you use limit orders that are sent in. So to counter this, I would hide all the SL/TP on my own scripts. And I already knew these games, and moved onto the higher time frames to reduce the number of trades and broker games. If my strategy is sound and can be maintained, I will then port it to a 3rd party platform.

It's all a cat and mouse game. And looking at the trend, seems like I'm in the minority.

No ones complaining, they are just discussing types of feed..

Jesus, someones been at the " holier than thou juice tonight"...

THE STATEMENTS CONTAINED BELOW, POSTED BY ALMZAB is the most CONVILUTED PACK OF UNTRUTHS THAT HAS BEEN MY DISPLEASURE TO READ ON THESE THREADS in a very long time --- not since HITLER was a pup, posting on the german mark back in the 30's, have I seen such a pack of untruths published anywhere !

Ikon (or any other names they use) REPRESENTS and does business with four or five different brokers, offers rebates on prices and does NOT have the best spreads around. They are nothing more or less than an Introducing Broker !

an ECN like EFX or MB has an initial deposit of $250 vs their $500. They are NOT the cheapest around.

The prices you see on ANY MT4 broker reflect the "mean" of institutional pricing, but the broker is left free to decide what the HIGH price before reversal shall be, and they can make it ANYTHING they want, essentially ! Prices HAVE TO COME FROM SOMEWHERE, and everyone is using the same feeds, so give it some thought !

Speed of execution on an MT4 broker can range from instantaneous to 5 seconds delay, depending on how they "tweak" their spy programs (and MT4, as being discussed on this site, is a SPY program, reporting back everything you do or have loaded into your metatrader, and fully capable of slowing your entries and exits as the broker wishes !

ECN's have NO SPYS, NO DELAYS and they have NO reason to have this -- their money is made on a commission basis, so the more you trade, the more they make, since they make nothing from the spread, which is invariably the tightest around !

INSTITUTIONAL PRICING --- is EXACTLY what you see (as an average) on an ECN. I see it on my private feeds and MT4 feeds ---- btw, its usually Barclays Bank providing those feeds, though Tullet gets into the act also !

Since ALL banks will be hitting essentially the same prices (NO VIRGINIA, one bank wont be paying $500 dollars MORE than another, although you might find ONE pip differences) WHAT NEED OF EVERY SINGLE PRICE IN THE WORLD (which that company doesnt provide anyway, only(according to their website) an AVERAGE !


"EVERY ECN participant is a market maker" ---- Im sure youll find them at ECN's also, but SO WHAT ----- I know literally thousands of retail traders around the world who wouldnt go anywhere else, and dont. Youre gonna be trading against a mm wherever you go, but SO WHAT --- the correct entry and exit price, per timeframe, is the CORRECT price, no mm can fool with it ????

REQUOTES -- 5 years with EFX and I have yet to see a requote, although I have missed an entry because I missed my entry price --- when things get moving fast, one should be sure of their entry and just do it ----- for those trading longer timeframes than scalping, a pip here or there is of no matter.

There is ONE thing about a true ECN that I must mention --- YOU CANNOT HEDGE without having another account to place a contra trade, as you can with an MT4 broker, and if you hedge with an ECN, one account does not cover the others margin in a hedge, as with an MT4 broker. Since hedging is VERY much part of what I do, I work with a few ECN accounts and some european brokers to handle my particular trading methods.

Those who know me, know my experience and desire to at least keep newbs noses pointed in the right direction ---- this nonesence Im reading here belongs in the trash, because thats all it is !

enjoy and trade well

mp

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Ikon GM is not an ECN.
What you see in MT4 pricing and spreads really reflects institional pricing.
Company is transparent you may always compare with Reuters Fx feed or Bloomberg.
So you are trading with the real institional pricing.
When it goes to execution you will find the following:
Less speed of execution rather then at ECNs 2-3 seconds against milliseconds at Hotspot or Currenex.
This is minus.

But minimum account size is very resonable, several times lees then in ECN.
This is plus

No commission against standard commission of 3 usd per standard lots in ECN (which is equal to 0.6 pip per round lot).
This is plus.

about requotes , do you think that there are no requotes in ECNs? there are re-quotes!
About spread and slippage , spread could be even 10 pip on eur/usd and slippage could be even 50 pips, in case of gap.
Also remmember that every participant of ECN is market maker!
My conclusion is that IKON is nice place for retail traders , but not perfect.
But approach with floating spread and institional pricing is very good.

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Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !!

Yes clearly ALMZAB talks out his ass...Pure garbage..

There are NICER ways of saying the same thing philt ---- practice them, perhaps while drinking tea at a social. That should put you in the right mood and compliment your rugged but gentlemanly manner !

LOL

mp

__________________
Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !!