some other factors worth considering before you decide that an ECN broker, or an ECN account (some. Bank traders will tell you that at this level, trade sizes are usually in minimums of ten or so full lots. A few insist on minimum trade sizes as high as 1 minilot instead of the 1 microlot (one tenth of a minilot) that has become more standard within the Forex industry. Based on winning 9 international forex industry awards. Gold-, Öl-, Options-Broker, andere. Non-ECN brokers, in contrast, take the other side of the trade themselves, creating a large and obvious conflict of interest with their clients. The more sophisticated problem arises when we ask what qualifies as a liquidity provider? This is a significant advantage, and provides a lot of reassurance. For example, some dealing desk brokers wont let you buy or sell more than 5 lots at once. One good think about choosing ECN brokers is that they tend to aim at a more sophisticated market than market-making brokers, meaning that you probably will not have to worry about misleading terms or hard sells. We encourage you to seek independent advice if necessary. There are not many special factors to watch out for at ECN brokers that differ from what should be the usual considerations.
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The third factor to think about is the cost of trading. How to Choose the Best ECN Forex Broker? Most brokers claiming to be ECN brokers are probably telling the truth about this at least, although if you see large spreads, spreads that never seem to really vary, or continuously slow execution, they are almost certainly not. Account size, eCN brokers usually require higher minimum deposits. The biggest difference, however, is that if you're based in Australia and you worry about ever having to make a claim against your Forex broker, you may want to do so to a regulatory body that is in your area. . For position traders, these rates can make more difference to overall profit and loss than the spreads charged, at least up to a point. If you are making few trades but leaving your positions open for several days or even over weeks and months, you should consider how competitive are brokers are in terms of their overnight financing rates which are generally charged each day against positions left open. ECN stands for electronic communications network and sometimes brokers of this type are also referred to as STP brokers (STP stands for straight through processing) or no dealing desk (NDD) brokers. Does the execution work in a manner that suggests the Forex broker is a true ECN broker or something close to it? # As published in Finance Magnates Intelligence Report Q3 2016 (page 30).