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Old 02-21-2008, 01:08 AM
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Finally a REAL ECN MT4 broker?
Hello guys!
Online forex trading|Mini accounts|Forex broker|Managed accounts
I am trying the demo and I am impressed so far.
They are IBs from IKON Global Market Inc, registered with the CFTC and member of the NFA. 0-2 spread on eur/usd and no commission. Minimum account size is only $500,
I sent an e-mail yesterday and I got a response. Let's figure out if it's a real ECN or NOT...



MY QUESTIONS

Hello,
I am interested by your broker and I would like to get some answers.
Are you an ECN broker?
Do you show BB/BO in your mt4 platform?
How can you guarantee you do not manipulate the market?
Do you allow scalping?
If you show best bid and best offer, why dont you charge commissions? If charge, how much per lot traded?
What's the minimum account size?
Thank you

ANSWERS

Dear,

We offer one the top solution for forex trading at the moment.
As you know in ECN model all deals are roted to different liquidity providers.
We offer combination of internal liquidity generated by our customers ( more then 3000 traders), plus automated routing to one of our 16 liquidity providers (banks), so system is fully automated, no dealer interventon.
MT4 shows the best bid and best offer.
As you know on liqudid pairs at Currenex or Hotspot, theres is almost constant spread of half pip, we offer one pip, so commission per trade already inside of the spread.
Some times our spread my go to zero, then it means that it is internal matching of trades.

Our minimum account size is 500 usd, min lot 10000 units.
There are simialar offer in the market Ex. Mb trading, but as you know MB charges 5 usd per lot ,and effective spread is higher.

Hope you will find my answer as complete.
regards,
Support Team
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Old 02-21-2008, 01:17 AM
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davidke20 davidke20 is offline
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Quote:
Originally Posted by Mr. Madruga View Post
We offer combination of internal liquidity generated by our customers ( more then 3000 traders), plus automated routing to one of our 16 liquidity providers (banks), so system is fully automated, no dealer interventon.
MT4 shows the best bid and best offer.
As you know on liqudid pairs at Currenex or Hotspot, theres is almost constant spread of half pip, we offer one pip, so commission per trade already inside of the spread.
Some times our spread my go to zero, then it means that it is internal matching of trades.
Ahem... Ermmm.. according to your previous statement that you received from your the broker, those few sentances means market maker. Correct me if I'm wrong

Regards

David
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Old 02-21-2008, 01:27 AM
Quantem Quantem is offline
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Ecn
I suggest that you read this, so that you understand what an ECN is.

There is a big misconception that ECN=Interbank, it's not the same.

Trading Through A Market Maker Vs. An ECN
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Old 02-21-2008, 01:31 AM
scrambledem scrambledem is offline
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you want a broker that works, Forex Trading | Online Forex Trading | Forex Broker | Online FX Trading | Metatrader Broker - Ikon Royal i've used them for ages and i've made money...good spreads, good reviews, amazing customer service....check forexbastards.com for reviews aswell
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Old 02-21-2008, 01:32 AM
zomg zomg is offline
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I heard Ikon Royal has lots of slipage and requotes. If its true, it probably negates the great spreads they have.
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Old 02-21-2008, 01:40 AM
prasxz prasxz is offline
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hi
Quote:
Originally Posted by zomg View Post
I heard Ikon Royal has lots of slipage and requotes. If its true, it probably negates the great spreads they have.
still market maker i think

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Old 02-21-2008, 03:54 AM
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Linuxser Linuxser is offline
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Funny
1-Click on Free Trial.

2-Then click on submit without fill the form.

3-And click on the browser download the platform
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Old 02-21-2008, 04:28 AM
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MT4 is not designed to handle ECN ,the integration is not easy
I mgith be wrong , it would be interesting to find an ECN MT4 broker
Last edited by MiniMe : 02-21-2008 at 04:38 AM.
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Old 02-21-2008, 04:32 AM
Almazb Almazb is offline
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Quote:
Originally Posted by prasxz View Post
still market maker i think

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Lets make picture clear: UBS, DB, Citi, who are they? They are market makers.
What is ECN it is market place for several market makers.
What is advantages of ECN against single market maker, that it is not possible to manipulate the spread.

With Ikon , you have access liquidity from 17 market makers ( 16 banks plus Ikon itsef), then what is wrong?

I think Ikon offer excellent business model. Actually i tried their services for 2 week with small account of 500 usd. No single requot!
I was using Currenex from one the most reputable broker, and had slippage of 70 pips!!!!!! Also i very well remmember when Currenex was down for 6 hours, and i lost 700 usd.
So i think it is better to understand trading model, then make a desicion.
Beleive Ikon offers really good model.
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Old 02-21-2008, 04:37 AM
Almazb Almazb is offline
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Quote:
Originally Posted by MiniMe View Post
MT4 is not designed to handle ECN that is said by Metaquotes them self , don't waste time try to find an MT4 ECN feed because the way MT4 was built will not handle the ECN feed.

I don't have the link to Metaquotes answers but and I wont waste time to look for it , you can either ask them or google it
It is not true at all!!
Metatrader could be connected to any ECN!
Even now Metatrader supports decimal pricing.

please check from hotspotfx website
Hotspot FX- API for Metatrader
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