Electronic Communication Network (ECN) brokerage is one of the fastest growing trends in the forex market. Seeing the opportunity that is available in the marketplace, a number of new ECN brokers are opening new business services. ECN forex brokers create a trading environment where market makers and traders can place competing bids against each other. The minimum deposit required to be made for starting trading through ECN accounts is often higher than those required in the case of standard forex accounts, but there are a number of significant advantages of working with the best MetaTrader ECN brokers in the Australia. that are regulated by the Financial Conduct Authority (ASIC). The advantages include lower spreads and the ability for scalping.
With multiple attractive options available in the marketplace, choosing an ECN broker can be a difficult task. The fact that many of the forex brokers that offer standard accounts also offer ECN accounts further compounds the situation. To make it easy for traders to decide on which ECN broker is right for traders needs, we have provided some information on a few of the top ECN brokers that offer MetaTrader trading platform and are regulated by ASIC. This can be the starting point for traders in traders search for the best ECN forex broker to work with. However, prior to providing these details let us discuss a few aspects related to choosing the best ECN forex broker.
Related: Top ASIC Australia regulated forex brokers list
s in Australia.
If traders are located in the Australia., the first and foremost thing traders need to check is whether the ECN broker traders are planning to work with is regulated by the ASIC or not. Once this is confirmed, the next aspect that traders need to check is whether the broker is offering the MetaTrader platform or not. The MetaTrader platform is the most popular trading platform when it comes to currency trading. Having ascertained these two aspects, some of the other things to look out for are as follows:
If traders are a long term trader, it is definitely better that traders trade with ECN forex brokers. This is because traders can be confident of the fact that they will not trade against traders. However, traders need to know that all ECN brokers are not what they seem to be. In order to determine whether the forex broker traders are planning to work with is real ECN broker, traders need to ask the following simple questions:
Does the broker have a dealing desk?
If traders find that the broker has used the words ‘dealing desk’ on their website, traders can be sure that they are not a true ECN brokers. traders can also find out by opening a demo or a real account with the broker. In the case of a real Forex ECN broker, there will be no difference in the pips being offered at the time of news releases.
Is the spread offered by the broker fixed or variable?
traders must have realized by now as to what should be the answer to this question. A real ECN Forex broker would never offer fixed spreads. They offer only variable or floating spreads.
Will there be negative slippage?
The answer to this question is that a real ECN broker will never allow negative slippage.
In the case of an ECN Fx broker, traders can be confident that the commission fees fixed and the spreads will be tight. On the other hand, a market maker will always trade in the opposite direction to traders trade.
Other qualities to be considered when choosing an ECN forex broker are liquidity and trade execution. traders should choose a broker that guarantees instant order execution at the best possible price.
Further, the provider should adequately be capitalized and offer a reliable platform. In addition, traders should also check the types of accounts, leverage, margin and spreads offered by the brokers under consideration. Initial deposit to be made to start trading, currency options, payment methods, withdrawal conditions and customer support services are some of the factors which should also be taken into account.
#1: FxOpen Australia
In 2013, FXOpen launched its online trading platform. FXOpen Australia, based in London, is regulated by the Financial Conduct Authority in the Australia.
Broker Type – ECN/STPRegulation – ASIC, AustraliaPlatforms – Three versions of MT4Minimum Deposit – $300Deposit Options – Bank Wire Transfer, Credit/Debit Cards, WebMoney, Neteller, Skrill, PayzaMaximum Leverage – 500:1Minimum Lot Size – 0.01Spreads – VariableLowest Spreads for EUR/USD – Starts from 0 pips
Tickmill, owned by Tickmill Limited and operated by Tmill Australia Limited and Tickmill Ltd., which is a company registered in England and Wales. Tickmill has a principal and registered offices in London and Seychelles. Tickmill is under the regulatory control of both Financial operates Conduct Authority in the Australia and Financial Services Authority of Seychelles.
Broker Type – STP/ECN/NDD/DMARegulation – Financial Conduct Authority (ASIC), Australia and Financial Services Authority (FSA), SeychellesPlatforms – Web Platform, MetaTrader 4, Mobile PlatformMinimum Deposit – $25Deposit Options – Wire Transfer, Credit/Debit Card, WebMoney, UnionPay, Skrill, Neteller, FasaPayMaximum Leverage – 500:1Minimum Lot Size – 0.01Spreads – VariableLowest Spreads for EUR/USD – Starts from 0.0
BRIEF-Gain Capital announces monthly metrics for March 2017
April 10 Gain Capital Holdings Inc
* Gain Capital announces monthly metrics for March 2017
* Mar 2017 retail segment OTC trading volume $239.2 billion, up 40.5 percent sequentially
* March 2017 retail segment OTC average daily volume $10.4 billion versus $8.5 billion in Feb 2017
* March 2017 institutional segment ECN volume $271.7 billion versus $221.6 billion in Feb 2017
* March 2017 institutional segment ECN average daily volume $11.8 billion versus $11.1 billion in Feb 2017
* March 2017 futures contracts 827,296 versus 589,538 in Feb 2017 Source text for Eikon: Further company coverage:
Next In Market News BRIEF-Digital Power quarterly basic net loss per share $0.13
* Digital Power Corporation reports financial results for the fourth quarter and the year ended December 31, 2016
BRIEF-Sika says sales to exceed CHF 6 billion in 2017
* Sika AG: Strong start to the year with 10.7% sales growth in the first quarter of 2017