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FXCC, a true ECN broker

Discussion in 'Forex Broker Discussion' started by FXCC, Jul 29, 2011.

  1. FXCC

    FXCC New Member

    Joined:
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    Occupation:
    Work for Broker
    Location:
    Limassol, Cyprus
    Brief history of FXCC:

    Founded in 2010 we received our CySEC Regulation (License Number 121/10) in September 2010. Our FSA Registry followed in 2011 (Firm Reference Number 549790).

    The product we offer is a true ECN environment. We don’t do dealing desks, so there is no price manipulation. Platforms on offer include MT4 (with our ECN bridge), Currenex and iTrader for iPhone and iPad.


    Dear Traders, you may have heard a lot about ECN FOREX TRADING, and may be for so many traders (of course non-experienced traders) the term ECN is unclear or means nothing for them. I’d like to invite you all to read this post, afterward I’d be more than happy to answer all your inquiries and questions you might have.

    Please allow me to take a bit of time out to briefly introduce myself to you. My name is Saed, and I am a representative of FX Central Clearing Ltd (FXCC), I will be answering any questions or issues you may have as new or existing clients of FXCC or any questions you may have about forex trading in general.

    What is ECN?

    ECN, which stands for Electronic Communication Network and can best be described as a bridge linking smaller market participants with tier-1 liquidity providers through a FOREX ECN Broker.

    This linkage is done using sophisticated technology setup named FIX Protocol (Financial Information Exchange Protocol). At one end, the broker obtains liquidity from tier-1 liquidity providers (Major Banks) and makes it available for trading to its clients. On the other side, the broker delivers clients' orders to Liquidity Providers for execution.

    An ECN broker benefits from commission fees per transaction. The higher trading volume the broker's clients generate, the higher the broker's profitability.

    What are the advantages of ECN?

    Tight Spreads, multiple liquidity providers and tier-1 banks feed our system with live prices, and our price aggregator scans the best bid/ask price among the received prices and offers it to our client for trading. For example typical spread on the Euro is about 0.5 pips.

    No Dealing Desk, We are true ECN, there is absolutely no dealer intervention, we place your trade out there into the liquidity 'pool' from our providers. ECN broker has no conflict of interest with its clients and does not trade against them.

    No trading restrictions, are you a scalper or news trader? Do you use EAs or automated trading strategies? YES! But your Market Maker broker says No scalping! And keeps re-quoting you while news releases! And disable the usage of EAs when they are profitable!!!

    So it’s the time to move to a true ECN broker who welcomes all your trading styles and strategies.


    What is the disadvantage of ECN?


    When it comes to disadvantages, the only one WAS the lack of user friendly platform. ECN brokers trading platforms used to be very complicated and not easy to navigate, it WAS taking traders long time to become familiar with the platform features. But as I said (WAS). Now, traders can use their lovely & user-friendly MT4 to trade ECN forex, beside VIKING the neat and friendly new version of the giant ECN platform CURRENEX.



    For any question, please feel free to ask.
    Best Regards,
     
  2. AlanHurst

    AlanHurst New Member

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    It is great to be working with a true ECN broker, as that’s the real deal and I am lucky to have the best in OctaFX, it is a really world class broker with having 11 awards to their name while they have also won the award for best ECN broker as well, so that’s why working with them is so beautiful and there is also cTrader platform available, it is especially for ECN trading and really works perfectly for our performance.
     
  3. Fxtrader88

    Fxtrader88 New Member

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    The main disadvantage of OctaFx for me is its trading platform. I definetely prefer using Metatrader 4: simple and convenient.
     
  4. Sharon Higgins

    Sharon Higgins New Member

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    Fxtrader, I believe there are many people like you who prefer Mt4 platform only, so we can use that with OctaFX broker. It’s unfortunate that we often jump on things without proper research. You can also find Mt4 platform available with them, so if you wish you can easily use that while one thing is certain about them, it’s zero manipulation and re-quotes, so that’s why working with such broker should be in top of the list for most people. I really enjoy my time here with this lovely broker, as they help me perform so well and also makes me extremely comfortable and relax with everything even in the most violate markets where we often fear a lot due to wrong brokers, so I am sure now this disadvantage is no longer disadvantage.
     
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