True ECN/STP Forex Brokers List ECN Brokers

Where does forex data come from?

I know forex is decentralized, but where does the price come from? I'm sure it's from many places I was wondering if anyone has a list with where the most volume trades come from.
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ecn

ecn
https://preview.redd.it/85umf06901q51.jpg?width=980&format=pjpg&auto=webp&s=a78ca027ec0463516d94fd2f5549d9cc818124c4


As with any brokers, we've an ecn forex broker list that has all the great ones. The thing is that, when people are checking out the simplest ECN STP brokers, they're trying to find the No Dealing Desk brokers. They do not know the difference between STP and ECN. So, don't get the 2 confused. To recap this and make it clear, allow us to summarize how the ECN brokers work:
● They do not make profits from spreads
● They make profits from commissions
● They do make money if you lose
These are the three basic items that make ECN brokers so attractive to several traders. to form this even more precise, allow us to check out STPs and ECN brokers individually to find out what makes them so different. Explaining The Differences of ECNs and STPs STPs have many similarities with ecn forex broker, but the difference between the 2 is routing. The STP can pick to affect different liquidity providers that are outside of their liquidity pool. The ECN is more of a hub. The hub here plays the role of a big and sole liquidity source. it's represented by hedge funds, banks and every one major player within the market. The network interconnects them to permit everyone to seek out the order they will handle internally. The other difference we all know is that with Forex brokers, you're capped at a 0.1 minimum lot size. The rationale for this is often because few liquidity providers leave but 0.1 lots. This requirement might indeed be difficult for inexperienced traders who might have to trade with lower amounts of cash . However, a hybrid method exists which will allow you to trade albeit you've got little money. that's not why we are here, though. Eliminating Untrue ECN Brokers When you look for the ECN brokers on the web , you'll find tons of them aren't truly ECN. they might be hybrid or maybe STP. The thing is that you simply got to have how to understand needless to say . That's the rationale why we made an ECN brokers list. Instead of changing it on the web and finding yourself holding the short end of a stick, check out the list. The real ECN brokers don't make profits from the spread difference but charge just a clean and transparent commission. they create sure that their work is for you to win. The more you earn, the more the commission they create .
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Trading economic news

The majority of this sub is focused on technical analysis. I regularly ridicule such "tea leaf readers" and advocate for trading based on fundamentals and economic news instead, so I figured I should take the time to write up something on how exactly you can trade economic news releases.
This post is long as balls so I won't be upset if you get bored and go back to your drooping dick patterns or whatever.

How economic news is released

First, it helps to know how economic news is compiled and released. Let's take Initial Jobless Claims, the number of initial claims for unemployment benefits around the United States from Sunday through Saturday. Initial in this context means the first claim for benefits made by an individual during a particular stretch of unemployment. The Initial Jobless Claims figure appears in the Department of Labor's Unemployment Insurance Weekly Claims Report, which compiles information from all of the per-state departments that report to the DOL during the week. A typical number is between 100k and 250k and it can vary quite significantly week-to-week.
The Unemployment Insurance Weekly Claims Report contains data that lags 5 days behind. For example, the Report issued on Thursday March 26th 2020 contained data about the week ending on Saturday March 21st 2020.
In the days leading up to the Report, financial companies will survey economists and run complicated mathematical models to forecast the upcoming Initial Jobless Claims figure. The results of surveyed experts is called the "consensus"; specific companies, experts, and websites will also provide their own forecasts. Different companies will release different consensuses. Usually they are pretty close (within 2-3k), but for last week's record-high Initial Jobless Claims the reported consensuses varied by up to 1M! In other words, there was essentially no consensus.
The Unemployment Insurance Weekly Claims Report is released each Thursday morning at exactly 8:30 AM ET. (On Thanksgiving the Report is released on Wednesday instead.) Media representatives gather at the Frances Perkins Building in Washington DC and are admitted to the "lockup" at 8:00 AM ET. In order to be admitted to the lockup you have to be a credentialed member of a media organization that has signed the DOL lockup agreement. The lockup room is small so there is a limited number of spots.
No phones are allowed. Reporters bring their laptops and connect to a local network; there is a master switch on the wall that prevents/enables Internet connectivity on this network. Once the doors are closed the Unemployment Insurance Weekly Claims Report is distributed, with a heading that announces it is "embargoed" (not to be released) prior to 8:30 AM. Reporters type up their analyses of the report, including extracting key figures like Initial Jobless Claims. They load their write-ups into their companies' software, which prepares to send it out as soon as Internet is enabled. At 8:30 AM the DOL representative in the room flips the wall switch and all of the laptops are connected to the Internet, releasing their write-ups to their companies and on to their companies' partners.
Many of those media companies have externally accessible APIs for distributing news. Media aggregators and squawk services (like RanSquawk and TradeTheNews) subscribe to all of these different APIs and then redistribute the key economic figures from the Report to their own subscribers within one second after Internet is enabled in the DOL lockup.
Some squawk services are text-based while others are audio-based. FinancialJuice.com provides a free audio squawk service; internally they have a paid subscription to a professional squawk service and they simply read out the latest headlines to their own listeners, subsidized by ads on the site. I've been using it for 4 months now and have been pretty happy. It usually lags behind the official release times by 1-2 seconds and occasionally they verbally flub the numbers or stutter and have to repeat, but you can't beat the price!
Important - I’m not affiliated with FinancialJuice and I’m not advocating that you use them over any other squawk. If you use them and they misspeak a number and you lose all your money don’t blame me. If anybody has any other free alternatives please share them!

How the news affects forex markets

Institutional forex traders subscribe to these squawk services and use custom software to consume the emerging data programmatically and then automatically initiate trades based on the perceived change to the fundamentals that the figures represent.
It's important to note that every institution will have "priced in" their own forecasted figures well in advance of an actual news release. Forecasts and consensuses all come out at different times in the days leading up to a news release, so by the time the news drops everybody is really only looking for an unexpected result. You can't really know what any given institution expects the value to be, but unless someone has inside information you can pretty much assume that the market has collectively priced in the experts' consensus. When the news comes out, institutions will trade based on the difference between the actual and their forecast.
Sometimes the news reflects a real change to the fundamentals with an economic effect that will change the demand for a currency, like an interest rate decision. However, in the case of the Initial Jobless Claims figure, which is a backwards-looking metric, trading is really just self-fulfilling speculation that market participants will buy dollars when unemployment is low and sell dollars when unemployment is high. Generally speaking, news that reflects a real economic shift has a bigger effect than news that only matters to speculators.
Massive and extremely fast news-based trades happen within tenths of a second on the ECNs on which institutional traders are participants. Over the next few seconds the resulting price changes trickle down to retail traders. Some economic news, like Non Farm Payroll Employment, has an effect that can last minutes to hours as "slow money" follows behind on the trend created by the "fast money". Other news, like Initial Jobless Claims, has a short impact that trails off within a couple minutes and is subsequently dwarfed by the usual pseudorandom movements in the market.
The bigger the difference between actual and consensus, the bigger the effect on any given currency pair. Since economic news releases generally relate to a single currency, the biggest and most easily predicted effects are seen on pairs where one currency is directly effected and the other is not affected at all. Personally I trade USD/JPY because the time difference between the US and Japan ensures that no news will be coming out of Japan at the same time that economic news is being released in the US.
Before deciding to trade any particular news release you should measure the historical correlation between the release (specifically, the difference between actual and consensus) and the resulting short-term change in the currency pair. Historical data for various news releases (along with historical consensus data) is readily available. You can pay to get it exported into Excel or whatever, or you can scroll through it for free on websites like TradingEconomics.com.
Let's look at two examples: Initial Jobless Claims and Non Farm Payroll Employment (NFP). I collected historical consensuses and actuals for these releases from January 2018 through the present, measured the "surprise" difference for each, and then correlated that to short-term changes in USD/JPY at the time of release using 5 second candles.
I omitted any releases that occurred simultaneously as another major release. For example, occasionally the monthly Initial Jobless Claims comes out at the exact same time as the monthly Balance of Trade figure, which is a more significant economic indicator and can be expected to dwarf the effect of the Unemployment Insurance Weekly Claims Report.
USD/JPY correlation with Initial Jobless Claims (2018 - present)
USD/JPY correlation with Non Farm Payrolls (2018 - present)
The horizontal axes on these charts is the duration (in seconds) after the news release over which correlation was calculated. The vertical axis is the Pearson correlation coefficient: +1 means that the change in USD/JPY over that duration was perfectly linearly correlated to the "surprise" in the releases; -1 means that the change in USD/JPY was perfectly linearly correlated but in the opposite direction, and 0 means that there is no correlation at all.
For Initial Jobless Claims you can see that for the first 30 seconds USD/JPY is strongly negatively correlated with the difference between consensus and actual jobless claims. That is, fewer-than-forecast jobless claims (fewer newly unemployed people than expected) strengthens the dollar and greater-than-forecast jobless claims (more newly unemployed people than expected) weakens the dollar. Correlation then trails off and changes to a moderate/weak positive correlation. I interpret this as algorithms "buying the dip" and vice versa, but I don't know for sure. From this chart it appears that you could profit by opening a trade for 15 seconds (duration with strongest correlation) that is long USD/JPY when Initial Jobless Claims is lower than the consensus and short USD/JPY when Initial Jobless Claims is higher than expected.
The chart for Non Farm Payroll looks very different. Correlation is positive (higher-than-expected payrolls strengthen the dollar and lower-than-expected payrolls weaken the dollar) and peaks at around 45 seconds, then slowly decreases as time goes on. This implies that price changes due to NFP are quite significant relative to background noise and "stick" even as normal fluctuations pick back up.
I wanted to show an example of what the USD/JPY S5 chart looks like when an "uncontested" (no other major simultaneously news release) Initial Jobless Claims and NFP drops, but unfortunately my broker's charts only go back a week. (I can pull historical data going back years through the API but to make it into a pretty chart would be a bit of work.) If anybody can get a 5-second chart of USD/JPY at March 19, 2020, UTC 12:30 and/or at February 7, 2020, UTC 13:30 let me know and I'll add it here.

Backtesting

So without too much effort we determined that (1) USD/JPY is strongly negatively correlated with the Initial Jobless Claims figure for the first 15 seconds after the release of the Unemployment Insurance Weekly Claims Report (when no other major news is being released) and also that (2) USD/JPY is strongly positively correlated with the Non Farms Payroll figure for the first 45 seconds after the release of the Employment Situation report.
Before you can assume you can profit off the news you have to backtest and consider three important parameters.
Entry speed: How quickly can you realistically enter the trade? The correlation performed above was measured from the exact moment the news was released, but realistically if you've got your finger on the trigger and your ear to the squawk it will take a few seconds to hit "Buy" or "Sell" and confirm. If 90% of the price move happens in the first second you're SOL. For back-testing purposes I assume a 5 second delay. In practice I use custom software that opens a trade with one click, and I can reliably enter a trade within 2-3 seconds after the news drops, using the FinancialJuice free squawk.
Minimum surprise: Should you trade every release or can you do better by only trading those with a big enough "surprise" factor? Backtesting will tell you whether being more selective is better long-term or not.
Hold time: The optimal time to hold the trade is not necessarily the same as the time of maximum correlation. That's a good starting point but it's not necessarily the best number. Backtesting each possible hold time will let you find the best one.
The spread: When you're only holding a position open for 30 seconds, the spread will kill you. The correlations performed above used the midpoint price, but in reality you have to buy at the ask and sell at the bid. Brokers aren't stupid and the moment volume on the ECN jumps they will widen the spread for their retail customers. The only way to determine if the news-driven price movements reliably overcome the spread is to backtest.
Stops: Personally I don't use stops, neither take-profit nor stop-loss, since I'm automatically closing the trade after a fixed (and very short) amount of time. Additionally, brokers have a minimum stop distance; the profits from scalping the news are so slim that even the nearest stops they allow will generally not get triggered.
I backtested trading these two news releases (since 2018), using a 5 second entry delay, real historical spreads, and no stops, cycling through different "surprise" thresholds and hold times to find the combination that returns the highest net profit. It's important to maximize net profit, not expected value per trade, so you don't over-optimize and reduce the total number of trades taken to one single profitable trade. If you want to get fancy you can set up a custom metric that combines number of trades, expected value, and drawdown into a single score to be maximized.
For the Initial Jobless Claims figure I found that the best combination is to hold trades open for 25 seconds (that is, open at 5 seconds elapsed and hold until 30 seconds elapsed) and only trade when the difference between consensus and actual is 7k or higher. That leads to 30 trades taken since 2018 and an expected return of... drumroll please... -0.0093 yen per unit per trade.
Yep, that's a loss of approx. $8.63 per lot.
Disappointing right? That's the spread and that's why you have to backtest. Even though the release of the Unemployment Insurance Weekly Claims Report has a strong correlation with movement in USD/JPY, it's simply not something that a retail trader can profit from.
Let's turn to the NFP. There I found that the best combination is to hold trades open for 75 seconds (that is, open at 5 seconds elapsed and hold until 80 seconds elapsed) and trade every single NFP (no minimum "surprise" threshold). That leads to 20 trades taken since 2018 and an expected return of... drumroll please... +0.1306 yen per unit per trade.
That's a profit of approx. $121.25 per lot. Not bad for 75 seconds of work! That's a +6% ROI at 50x leverage.

Make it real

If you want to do this for realsies, you need to run these numbers for all of the major economic news releases. Markit Manufacturing PMI, Factory Orders MoM, Trade Balance, PPI MoM, Export and Import Prices, Michigan Consumer Sentiment, Retail Sales MoM, Industrial Production MoM, you get the idea. You keep a list of all of the releases you want to trade, when they are released, and the ideal hold time and "surprise" threshold. A few minutes before the prescribed release time you open up your broker's software, turn on your squawk, maybe jot a few notes about consensuses and model forecasts, and get your finger on the button. At the moment you hear the release you open the trade in the correct direction, hold it (without looking at the chart!) for the required amount of time, then close it and go on with your day.
Some benefits of trading this way: * Most major economic releases come out at either 8:30 AM ET or 10:00 AM ET, and then you're done for the day. * It's easily backtestable. You can look back at the numbers and see exactly what to expect your return to be. * It's fun! Packing your trading into 30 seconds and knowing that institutions are moving billions of dollars around as fast as they can based on the exact same news you just read is thrilling. * You can wow your friends by saying things like "The St. Louis Fed had some interesting remarks on consumer spending in the latest Beige Book." * No crayons involved.
Some downsides: * It's tricky to be fast enough without writing custom software. Some broker software is very slow and requires multiple dialog boxes before a position is opened, which won't cut it. * The profits are very slim, you're not going to impress your instagram followers to join your expensive trade copying service with your 30-second twice-weekly trades. * Any friends you might wow with your boring-ass economic talking points are themselves the most boring people in the world.
I hope you enjoyed this long as fuck post and you give trading economic news a try!
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Beginner, where to start?

I'm looking into becomming a trader of some sorts. I've looked into regular stock trading, options and forex. The problem is, I don't know what to choose, therefore I've decided to try little bit of each trading platform before evnetually specialice more.
Where should I start with forex? Any recommended reading or books? Is it possible to live from the income of forex trading? Or, better phrased, are any of you made it so you can live by trading?
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Finding Trading Edges: Where to Get High R:R trades and Profit Potential of Them.

Finding Trading Edges: Where to Get High R:R trades and Profit Potential of Them.
TL;DR - I will try and flip an account from $50 or less to $1,000 over 2019. I will post all my account details so my strategy can be seen/copied. I will do this using only three or four trading setups. All of which are simple enough to learn. I will start trading on 10th January.
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As I see it there are two mains ways to understand how to make money in the markets. The first is to know what the biggest winners in the markets are doing and duplicating what they do. This is hard. Most of the biggest players will not publicly tell people what they are doing. You need to be able to kinda slide in with them and see if you can pick up some info. Not suitable for most people, takes a lot of networking and even then you have to be able to make the correct inferences.
Another way is to know the most common trades of losing traders and then be on the other side of their common mistakes. This is usually far easier, usually everyone knows the mind of a losing trader. I learned about what losing traders do every day by being one of them for many years. I noticed I had an some sort of affinity for buying at the very top of moves and selling at the very bottom. This sucked, however, is was obvious there was winning trades on the other side of what I was doing and the adjustments to be a good trader were small (albeit, tricky).
Thus began the study for entries and maximum risk:reward. See, there have been times I have bought aiming for a 10 pip scalps and hit 100 pips stops loss. Hell, there have been times I was going for 5 pips and hit 100 stop out. This can seem discouraging, but it does mean there must be 1:10 risk:reward pay-off on the other side of these mistakes, and they were mistakes.
If you repeatedly enter and exit at the wrong times, you are making mistakes and probably the same ones over and over again. The market is tricking you! There are specific ways in which price moves that compel people to make these mistakes (I won’t go into this in this post, because it takes too long and this is going to be a long post anyway, but a lot of this is FOMO).
Making mistakes is okay. In fact, as I see it, making mistakes is an essential part of becoming an expert. Making a mistake enough times to understand intrinsically why it is a mistake and then make the required adjustments. Understanding at a deep level why you trade the way you do and why others make the mistakes they do, is an important part of becoming an expert in your chosen area of focus.
I could talk more on these concepts, but to keep the length of the post down, I will crack on to actual examples of trades I look for. Here are my three main criteria. I am looking for tops/bottoms of moves (edge entries). I am looking for 1:3 RR or more potential pay-offs. My strategy assumes that retail trades will lose most of the time. This seems a fair enough assumption. Without meaning to sound too crass about it, smart money will beat dumb money most of the time if the game is base on money. They just will.
So to summarize, I am looking for the points newbies get trapped in bad positions entering into moves too late. From these areas, I am looking for high RR entries.
Setup Examples.
I call this one the “Lightning Bolt correction”, but it is most commonly referred to as a “two leg correction”. I call it a “Lightning Bolt correction” because it looks a bit like one, and it zaps you. If you get it wrong.

https://preview.redd.it/t4whwijse2721.png?width=1326&format=png&auto=webp&s=c9050529c6e2472a3ff9f8e7137bd4a3ee5554cc
Once I see price making the first sell-off move and then begin to rally towards the highs again, I am waiting for a washout spike low. The common trades mistakes I am trading against here is them being too eager to buy into the trend too early and for the to get stopped out/reverse position when it looks like it is making another bearish breakout. Right at that point they panic … literally one candle under there is where I want to be getting in. I want to be buying their stop loss, essentially. “Oh, you don’t want that ...okay, I will have that!”
I need a precise entry. I want to use tiny stops (for big RR) so I need to be cute with entries. For this, I need entry rules. Not just arbitrarily buying the spike out. There are a few moving parts to this that are outside the scope of this post but one of my mains ways is using a fibs extension and looking for reversals just after the 1.61% level. How to draw the fibs is something else that is outside the scope of this but for one simple rule, they can be drawn on the failed new high leg.

https://preview.redd.it/2cd682kve2721.png?width=536&format=png&auto=webp&s=f4d081c9faff49d0976f9ffab260aaed2b570309
I am looking for a few specific things for a prime setup. Firstly, I am looking for the false hope candles, the ones that look like they will reverse the market and let those buying too early get out break-even or even at profit. In this case, you can see the hammer and engulfing candle off the 127 level, then it spikes low in that “stop-hunt” sort of style.
Secondly I want to see it trading just past my entry level (161 ext). This rule has come from nothing other than sheer volume. The amount of times I’ve been stopped out by 1 pip by that little sly final low has gave birth to this rule. I am looking for the market to trade under support in a manner that looks like a new strong breakout. When I see this, I am looking to get in with tiny stops, right under the lows. I will also be using smaller charts at this time and looking for reversal clusters of candles. Things like dojis, inverted hammers etc. These are great for sticking stops under.
Important note, when the lightning bolt correction fails to be a good entry, I expect to see another two legs down. I may look to sell into this area sometimes, and also be looking for buying on another couple legs down. It is important to note, though, when this does not work out, I expect there to be continued momentum that is enough to stop out and reasonable stop level for my entry. Which is why I want to cut quick. If a 10 pips stop will hit, usually a 30 pips stop will too. Bin it and look for the next opportunity at better RR.

https://preview.redd.it/mhkgy35ze2721.png?width=1155&format=png&auto=webp&s=a18278b85b10278603e5c9c80eb98df3e6878232
Another setup I am watching for is harmonic patterns, and I am using these as a multi-purpose indicator. When I see potentially harmonic patterns forming, I am using their completion level as take profits, I do not want to try and run though reversal patterns I can see forming hours ahead of time. I also use them for entering (similar rules of looking for specific entry criteria for small stops). Finally, I use them as a continuation pattern. If the harmonic pattern runs past the area it may have reversed from, there is a high probability that the market will continue to trend and very basic trend following strategies work well. I learned this from being too stubborn sticking with what I thought were harmonic reversals only to be ran over by a trend (seriously, everything I know I know from how it used to make me lose).

https://preview.redd.it/1ytz2431f2721.png?width=1322&format=png&auto=webp&s=983a7f2a91f9195004ad8a2aa2bb9d4d6f128937
A method of spotting these sorts of M/W harmonics is they tend to form after a second spike out leg never formed. When this happens, it gives me a really good idea of where my profit targets should be and where my next big breakout level is. It is worth noting, larger harmonics using have small harmonics inside them (on lower time-frames) and this can be used for dialling in optimum entries. I also use harmonics far more extensively in ranging markets. Where they tend to have higher win rates.
Next setup is the good old fashioned double bottoms/double top/one tick trap sort of setup. This comes in when the market is highly over extended. It has a small sell-off and rallies back to the highs before having a much larger sell-off. This is a more risky trade in that it sells into what looks like trending momentum and can be stopped out more. However, it also pays a high RR when it works, allowing for it to be ran at reduced risk and still be highly profitable when it comes through.

https://preview.redd.it/1bx83776f2721.png?width=587&format=png&auto=webp&s=2c76c3085598ae70f4142d26c46c8d6e9b1c2881
From these sorts of moves, I am always looking for a follow up buy if it forms a lightning bolt sort of setup.
All of these setups always offer 1:3 or better RR. If they do not, you are doing it wrong (and it will be your stop placement that is wrong). This is not to say the target is always 1:3+, sometimes it is best to lock in profits with training stops. It just means that every time you enter, you can potentially have a trade that runs for many times more than you risked. 1:10 RR can be hit in these sorts of setups sometimes. Paying you 20% for 2% risked.
I want to really stress here that what I am doing is trading against small traders mistakes. I am not trying to “beat the market maker”. I am not trying to reverse engineer J.P Morgan’s black boxes. I do not think I am smart enough to gain a worthwhile edge over these traders. They have more money, they have more data, they have better softwares … they are stronger. Me trying to “beat the market maker” is like me trying to beat up Mike Tyson. I might be able to kick him in the balls and feel smug for a few seconds. However, when he gets up, he is still Tyson and I am still me. I am still going to be pummeled.
I’ve seen some people that were fairly bright people going into training courses and coming out dumb as shit. Thinking they somehow are now going to dominate Goldman Sachs because they learned a chart pattern. Get a grip. For real, get a fucking grip. These buzz phrases are marketeering. Realististically, if you want to win in the markets, you need to have an edge over somebody.
I don’t have edges on the banks. If I could find one, they’d take it away from me. Edges work on inefficiencies in what others do that you can spot and they can not. I do not expect to out-think a banks analysis team. I know for damn sure I can out-think a version of me from 5 years ago … and I know there are enough of them in the markets. I look to trade against them. I just look to protect myself from the larger players so they can only hurt me in limited ways. Rather than letting them corner me and beat me to a pulp (in the form of me watching $1,000 drop off my equity because I moved a stop or something), I just let them kick me in the butt as I run away. It hurts a little, but I will be over it soon.
I believe using these principles, these three simple enough edge entry setups, selectiveness (remembering you are trading against the areas people make mistakes, wait for they areas) and measured aggression a person can make impressive compounded gains over a year. I will attempt to demonstrate this by taking an account of under $100 to over $1,000 in a year. I will use max 10% on risk on a position, the risk will scale down as the account size increases. In most cases, 5% risk per trade will be used, so I will be going for 10-20% or so profits. I will be looking only for prime opportunities, so few trades but hard hitting ones when I take them.
I will start trading around the 10th January. Set remind me if you want to follow along. I will also post my investor login details, so you can see the trades in my account in real time. Letting you see when I place my orders and how I manage running positions.
I also think these same principles can be tweaked in such a way it is possible to flip $50 or so into $1,000 in under a month. I’ve done $10 to $1,000 in three days before. This is far more complex in trade management, though. Making it hard to explain/understand and un-viable for many people to copy (it hedges, does not comply with FIFO, needs 1:500 leverage and also needs spreads under half a pip on EURUSD - not everyone can access all they things). I see all too often people act as if this can’t be done and everyone saying it is lying to sell you something. I do not sell signals. I do not sell training. I have no dog in this fight, I am just saying it can be done. There are people who do it. If you dismiss it as impossible; you will never be one of them.
If I try this 10 times with $50, I probably am more likely to make $1,000 ($500 profit) in a couple months than standard ideas would double $500 - I think I have better RR, even though I may go bust 5 or more times. I may also try to demonstrate this, but it is kinda just show-boating, quite honestly. When it works, it looks cool. When it does not, I can go bust in a single day (see example https://www.fxblue.com/users/redditmicroflip).
So I may or may not try and demonstrate this. All this is, is just taking good basic concepts and applying accelerated risk tactics to them and hitting a winning streak (of far less trades than you may think). Once you have good entries and RR optimization in place - there really is no reason why you can not scale these up to do what may people call impossible (without even trying it).
I know there are a lot of people who do not think these things are possible and tend to just troll whenever people talk about these things. There used to be a time when I’d try to explain why I thought the way I did … before I noticed they only cared about telling me why they were right and discussion was pointless. Therefore, when it comes to replies, I will reply to all comments that ask me a question regarding why I think this can be done, or why I done something that I done. If you are commenting just to tell me all the reasons you think I am wrong and you are right, I will probably not reply. I may well consider your points if they are good ones. I just do not entering into discussions with people who already know everything; it serves no purpose.

Edit: Addition.

I want to talk a bit more about using higher percentage of risk than usual. Firstly, let me say that there are good reasons for risk caps that people often cite as “musts”. There are reasons why 2% is considered optimum for a lot of strategies and there are reasons drawing down too much is a really bad thing.
Please do not be ignorant of this. Please do not assume I am, either. In previous work I done, I was selecting trading strategies that could be used for investment. When doing this, my only concern was drawdown metrics. These are essential for professional money management and they are also essential for personal long-term success in trading.
So please do not think I have not thought of these sorts of things Many of the reasons people say these things can’t work are basic 101 stuff anyone even remotely committed to learning about trading learns in their first 6 months. Trust me, I have thought about these concepts. I just never stopped thinking when I found out what public consensus was.
While these 101 rules make a lot of sense, it does not take away from the fact there are other betting strategies, and if you can know the approximate win rate and pay-off of trades, you can have other ways of deriving optimal bet sizes (risk per trade). Using Kelly Criterion, for example, if the pay-off is 1:3 and there is a 75% chance of winning, the optimal bet size is 62.5%. It would be a viable (high risk) strategy to have extremely filtered conditions that looked for just one perfect set up a month, makingover 150% if it was successful.
Let’s do some math on if you can pull that off three months in a row (using 150% gain, for easy math). Start $100. Month two starts $250. Month three $625. Month three ends $1,562. You have won three trades. Can you win three trades in a row under these conditions? I don’t know … but don’t assume no-one can.
This is extremely high risk, let’s scale it down to meet somewhere in the middle of the extremes. Let’s look at 10%. Same thing, 10% risk looking for ideal opportunities. Maybe trading once every week or so. 30% pay-off is you win. Let’s be realistic here, a lot of strategies can drawdown 10% using low risk without actually having had that good a chance to generate 30% gains in the trades it took to do so. It could be argued that trading seldomly but taking 5* the risk your “supposed” to take can be more risk efficient than many strategies people are using.
I am not saying that you should be doing these things with tens of thousands of dollars. I am not saying you should do these things as long term strategies. What I am saying is do not dismiss things out of hand just because they buck the “common knowns”. There are ways you can use more aggressive trading tactics to turn small sums of money into they $1,000s of dollars accounts that you exercise they stringent money management tactics on.
With all the above being said, you do have to actually understand to what extent you have an edge doing what you are doing. To do this, you should be using standard sorts of risks. Get the basics in place, just do not think you have to always be basic. Once you have good basics in place and actually make a bit of money, you can section off profits for higher risk versions of strategies. The basic concepts of money management are golden. For longevity and large funds; learned them and use them! Just don’t forget to think for yourself once you have done that.

Update -

Okay, I have thought this through a bit more and decided I don't want to post my live account investor login, because it has my full name and I do not know who any of you are. Instead, for copying/observing, I will give demo account login (since I can choose any name for a demo).
I will also copy onto a live account and have that tracked via Myfxbook.
I will do two versions. One will be FIFO compliant. It will trade only single trade positions. The other will not be FIFO compliant, it will open trades in batches. I will link up live account in a week or so. For now, if anyone wants to do BETA testing with the copy trader, you can do so with the following details (this is the non-FIFO compliant version).

Account tracking/copying details.

Low-Medium risk.
IC Markets MT4
Account number: 10307003
Investor PW: lGdMaRe6
Server: Demo:01
(Not FIFO compliant)

Valid and Invalid Complaints.
There are a few things that can pop up in copy trading. I am not a n00b when it comes to this, so I can somewhat forecast what these will be. I can kinda predict what sort of comments there may be. Some of these are valid points that if you raise I should (and will) reply to. Some are things outside of the scope of things I can influence, and as such, there is no point in me replying to. I will just cover them all here the one time.

Valid complains are if I do something dumb or dramatically outside of the strategy I have laid out here. won't do these, if I do, you can pitchfork ----E

Examples;

“Oi, idiot! You opened a trade randomly on a news spike. I got slipped 20 pips and it was a shit entry”.
Perfectly valid complaint.

“Why did you open a trade during swaps hours when the spread was 30 pips?”
Also valid.

“You left huge trades open running into the weekend and now I have serious gap paranoia!”
Definitely valid.

These are examples of me doing dumb stuff. If I do dumb stuff, it is fair enough people say things amounting to “Yo, that was dumb stuff”.

Invalid Complains;

“You bought EURUSD when it was clearly a sell!!!!”
Okay … you sell. No-one is asking you to copy my trades. I am not trading your strategy. Different positions make a market.

“You opened a position too big and I lost X%”.
No. Na uh. You copied a position too big. If you are using a trade copier, you can set maximum risk. If you neglect to do this, you are taking 100% risk. You have no valid compliant for losing. The act of copying and setting the risk settings is you selecting your risk. I am not responsible for your risk. I accept absolutely no liability for any losses.
*Suggested fix. Refer to risk control in copy trading software

“You lost X trades in a row at X% so I lost too much”.
Nope. You copied. See above. Anything relating to losing too much in trades (placed in liquid/standard market conditions) is entirely you. I can lose my money. Only you can set it up so you can lose yours. I do not have access to your account. Only mine.
*Suggested fix. Refer to risk control in copy trading software

“Price keeps trading close to the pending limit orders but not filling. Your account shows profits, but mine is not getting them”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
* Suggested fix. Compare the spread on your broker with the spread on mine. Adjust your orders accordingly. Buy limit orders will need to move up a little. Sell limit orders should not need adjusted.

“I got stopped out right before the market turned, I have a loss but your account shows a profit”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there differences in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
** Suggested fix. Compare the spread on your broker with the spread on mine. Adjust your orders accordingly. Stop losses on sell orders will need to move up a bit. Stops on buy orders will be fine.

“Your trade got stopped out right before the market turned, if it was one more pip in the stop, it would have been a winner!!!”
Yeah. This happens. This is where the “risk” part of “risk:reward” comes in.

“Price traded close to take profit, yours filled but mines never”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there differences in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
(Side note, this should not be an issue since when my trade closes, it should ping your account to close, too. You might get a couple less pips).
*** Suggested fix. Compare the spread on your broker with the spread on mine. Adjust your orders accordingly. Take profits on buys will need to move up a bit. Sell take profits will be fine.

“My brokers spread jumped to 20 during the New York session so the open trade made a bigger loss than it should”.
Your broker might just suck if this happens. This is brokerage. I have no control over this. My trades are placed to profit from my brokerage conditions. I do not know, so can not account for yours. Also, if accounting for random spread spikes like this was something I had to do, this strategy would not be a thing. It only works with fair brokerage conditions.
*Suggested fix. Do a bit of Googling and find out if you have a horrific broker. If so, fix that! A good search phrase is; “(Broker name) FPA reviews”.

“Price hit the stop loss but was going really fast and my stop got slipped X pips”.
This is brokerage. I have no control over this. I use a strategy that aims for precision, and that means a pip here and there differences in brokerage spreads can make a difference. I am trading to profit from my trading conditions. I do not know, so can not account for, yours.
If my trade also got slipped on the stop, I was slipped using ECN conditions with excellent execution; sometimes slips just happen. I am doing the most I can to prevent them, but it is a fact of liquidity that sometimes we get slipped (slippage can also work in our favor, paying us more than the take profit would have been).

“Orders you placed failed to execute on my account because they were too large”.
This is brokerage. I have no control over this. Margin requirements vary. I have 1:500 leverage available. I will not always be using it, but I can. If you can’t, this will make a difference.

“Your account is making profits trading things my broker does not have”
I have a full range of assets to trade with the broker I use. Included Forex, indices, commodities and cryptocurrencies. I may or may not use the extent of these options. I can not account for your brokerage conditions.

I think I have covered most of the common ones here. There are some general rules of thumb, though. Basically, if I do something that is dumb and would have a high probability of losing on any broker traded on, this is a valid complain.

Anything that pertains to risk taken in standard trading conditions is under your control.

Also, anything at all that pertains to brokerage variance there is nothing I can do, other than fully brief you on what to expect up-front. Since I am taking the time to do this, I won’t be a punchbag for anything that happens later pertaining to this.

I am not using an elitist broker. You don’t need $50,000 to open an account, it is only $200. It is accessible to most people - brokerage conditions akin to what I am using are absolutely available to anyone in the UK/Europe/Asia (North America, I am not so up on, so can’t say). With the broker I use, and with others. If you do not take the time to make sure you are trading with a good broker, there is nothing I can do about how that affects your trades.

I am using an A book broker, if you are using B book; it will almost certainly be worse results. You have bad costs. You are essentially buying from reseller and paying a mark-up. (A/B book AKA ECN/Market maker; learn about this here). My EURUSD spread will typically be 0.02 pips or so, if yours is 1 pip, this is a huge difference.
These are typical spreads I am working on.

https://preview.redd.it/yc2c4jfpab721.png?width=597&format=png&auto=webp&s=c377686b2485e13171318c9861f42faf325437e1


Check the full range of spreads on Forex, commodities, indices and crypto.

Please understand I want nothing from you if you benefit from this, but I am also due you nothing if you lose. My only term of offering this is that people do not moan at me if they lose money.

I have been fully upfront saying this is geared towards higher risk. I have provided information and tools for you to take control over this. If I do lose people’s money and I know that, I honestly will feel a bit sad about it. However, if you complain about it, all I will say is “I told you that might happen”, because, I am telling you that might happen.

Make clear headed assessments of how much money you can afford to risk, and use these when making your decisions. They are yours to make, and not my responsibility.

Update.

Crazy Kelly Compounding: $100 - $11,000 in 6 Trades.

$100 to $11,000 in 6 trades? Is it a scam? Is it a gamble? … No, it’s maths.

Common sense risk disclaimer: Don’t be a dick! Don’t risk money you can’t afford to lose. Do not risk money doing these things until you can show a regular profit on low risk.
Let’s talk about Crazy Kelly Compounding (CKC). Kelly criterion is a method for selecting optimal bet sizes if the odds and win rate are known (in other words, once you have worked out how to create and assess your edge). You can Google to learn about it in detail. The formula for Kelly criterion is;
((odds-1) * (percentage estimate)) - (1-percent estimate) / (odds-1) X 100
Now let’s say you can filter down a strategy to have a 80% win rate. It trades very rarely, but it had a very high success rate when it does. Let’s say you get 1:2 RR on that trade. Kelly would give you an optimum bet size of about 60% here. So if you win, you win 120%. Losing three trades in a row will bust you. You can still recover from anything less than that, fairly easily with a couple winning trades.
This is where CKC comes in. What if you could string some of these wins together, compounding the gains (so you were risking 60% each time)? What if you could pull off 6 trades in a row doing this?
Here is the math;

https://preview.redd.it/u3u6teqd7c721.png?width=606&format=png&auto=webp&s=3b958747b37b68ec2a769a8368b5cbebfe0e97ff
This shows years, substitute years for trades. 6 trades returns $11,338! This can be done. The question really is if you are able to dial in good enough entries, filter out enough sub-par trades and have the guts to pull the trigger when the time is right. Obviously you need to be willing to take the hit, obviously that hit gets bigger each time you go for it, but the reward to risk ratio is pretty decent if you can afford to lose the money.
We could maybe set something up to do this on cent brokers. So people can do it literally risking a couple dollars. I’d have to check to see if there was suitable spreads etc offered on them, though. They can be kinda icky.
Now listen, I am serious … don’t be a dick. Don’t rush out next week trying to retire by the weekend. What I am showing you is the EXTRA rewards that come with being able to produce good solid results and being able to section off some money for high risk “all or nothing” attempts; using your proven strategies.
I am not saying anyone can open 6 trades and make $11,000 … that is rather improbable. What I am saying is once you can get the strategy side right, and you can know your numbers; then you can use the numbers to see where the limits actually are, how fast your strategy can really go.
This CKC concept is not intended to inspire you to be reckless in trading, it is intended to inspire you to put focus on learning the core skills I am telling you that are behind being able to do this.
submitted by inweedwetrust to Forex [link] [comments]

Best ECN Broker - XtreamForex

Best ECN Brokers are brokers who use an Electronic Communications Network to provide price passage and trading chance to their traders. ECN Forex brokers are becoming exceedingly popular among modern traders due to the multitude of benefits of an ECN account. Open an ECN Trading Account and start your live trading with XtreamForex. Earn real money in the forex market with world best ECN Broker. You can learn everything about ECN Broker in this video. Check it. https://s33.aconvert.com/convert/p3r68-cdx67/gcg8i-cz961.mp4
submitted by SaritaXtreamForex to u/SaritaXtreamForex [link] [comments]

[Not my post] The Structure of Forex Brokers

Originally posted by Darkstar at Forex Factory.
Disclaimer: I did not write this. I found this post on ForexFactory written by a user called DarkStar, which I believe a lot of redditors will benefit from reading.
________________________________________________________________________________________________________
There has been much discussion of late regarding borker spreads and liquidity. Many assumptions are being made about why spreads are widened during news time that are built on an incomplete knowledge of the architecture of the forex market in general. The purpose of this article is to dissect the market and hopefully shed some light on the situation so that a more rational and productive discussion can be undertaken by the Forex Factory members.
We will begin with an explanation of the purpose of the Forex market and how it is utilized by its primary participants, expand into the structure and operation of the market, and conclude with the implications of this information for speculators. With that having been said, let us begin.
Unlike the various bond and equity markets, the Forex market is not generally utilized as an investment medium. While speculation has a critical role in its proper function, the lion’s share of Forex transactions are done as a function of international business.
The guy who buys a shiny new Eclipse more then likely will pay for it with US Dollars. Unfortunately Mitsubishi’s factory workers in Japan need to get their paychecks denominated in Yen, so at some point a conversion needs to be made. When one considers that companies like Exxon, Boeing, Sony, Dell, Honda, and thousands of other international businesses move nearly every dollar, real, yen, rubble, pound, and euro they make in a foreign country through the Forex market, it isn’t hard to understand how insignificant the speculative presence is; even in a $2tril per day market.
By and large, businesses don’t much care about the intricacies of exchange rates, they just want to make and sell their products. As a central repository of a company’s money, it was only natural that the banks would be the facilitators of these transactions. In the old days it was easy enough for a bank to call a foreign bank (or a foreign branch of ones own bank) and swap the stockpiles of currency each had accumulated from their many customers.
Just as any business would, the banks bought the foreign currency at one rate and marked it up before selling it to the customer. With that the foreign exchange spread was born. This was (and still is) a reasonable cost of doing business. Mitsubishi can pay its customers and the banks make a nice little profit for the hassle and risks associated with moving around the currency.
As a byproduct of transacting all this business, bank traders developed the ability to speculate on the future of currency rates. Utilizing a better understanding of the market, a bank could quote a business a spread on the current rate but hold off hedging until a better one came along. This process allowed the banks to expand their net income dramatically. The unfortunate consequence was that liquidity was redistributed in a way that made certain transactions impossible to complete.
It was for this reason and this reason alone that the market was eventually opened up to non-bank participants. The banks wanted more orders in the market so that a) they could profit from the less experienced participants, and b) the less experienced participants could provide a better liquidity distribution for execution of international business hedge orders. Initially only megacap hedge funds (such as Soros’s and others) were permitted, but it has since grown to include the retail brokerages and ECNs.

Market Structure:
Now that we have established why the market exists, let’s take a look at how the transactions are facilitated:
The top tier of the Forex market is transacted on what is collectively known as the Interbank. Contrary to popular belief the Interbank is not an exchange; it is a collection of communication agreements between the world’s largest money center banks.
To understand the structure of the Interbank market, it may be easier to grasp by way of analogy. Consider that in an office (or maybe even someone’s home) there are multiple computers connected via a network cable. Each computer operates independently of the others until it needs a resource that another computer possesses. At that point it will contact the other computer and request access to the necessary resource. If the computer is working properly and its owner has given the requestor authorization to do so, the resource can be accessed and the initiating computers request can be fulfilled. By substituting computers for banks and resources for currency, you can easily grasp the relationships that exist on the Interbank.
Anyone who has ever tried to find resources on a computer network without a server can appreciate how difficult it can be to keep track of who has what resources. The same issue exists on the Interbank market with regard to prices and currency inventory. A bank in Singapore may only rarely transact business with a company that needs to exchange some Brazilian Real and it can be very difficult to establish what a proper exchange rate should be. It is for this purpose that EBS and Reuters (hereafter EBS) established their services.
Layered on top (in a manner of speaking) of the Interbank communication links, the EBS service enables banks to see how much and at what prices all the Interbank members are willing to transact. Pains should be taken to express that EBS is not a market or a market maker; it is an application used to see bids and offers from the various banks.
The second tier of the market exists essential within each bank. By calling your local Bank of America branch you can exchange any foreign currency you would like. More then likely they will just move some excess currency from one branch to another. Since this is a micro-exchange with a single counterparty, you are basically at their mercy as to what exchange rate they will quote you. Your choice is to accept their offer or shop a different bank. Everyone who trades the forex market should visit their bank at least once to get a few quotes. It would be very enlightening to see how lucrative these transactions really are.
Branching off of this second tier is the third tier retail market. When brokers like Oanda, Forex.com, FXCM, etc. desire to establish a retail operation the first thing they need is a liquidity provider. Nine in ten of these brokers will sign an agreement with just one bank. This bank will agree to provide liquidity if and only if they can hedge it on EBS inclusive of their desired spread. Because the volume will be significantly higher a single bank patron will transact, the spreads will be much more competitive. By no means should it be expected these tier 3 providers will be quoted precisely what exists on the Interbank. Remember the bank is in the business of collecting spreads and no agreement is going to suspend that priority.
Retail forex is almost akin to running a casino. The majority of its participants have zero understanding how to trade effectively and as a result are consistent losers. The spread system combined with a standard probability distribution of returns gives the broker a built in house advantage of a few percentage points. As a result, they have all built internal order matching systems that play one loser off against a winner and collect the spread. On the occasions when disequilibrium exists within the internal order book, the broker hedges any exposure with their tier 2 liquidity provider.
As bad as this may sound, there are some significant advantages for speculators that deal with them. Because it is an internal order book, many features can be provided which are otherwise unavailable through other means. Non-standard contract sizes, high leverage on tiny account balances, and the ability to transact in a commission free environment are just a few of them…
An ECN operates similar to a Tier 2 bank, but still exists on the third tier. An ECN will generally establish agreements with several tier 2 banks for liquidity. However instead of matching orders internally, it will just pass through the quotes from the banks, as is, to be traded on. It’s sort of an EBS for little guys. There are many advantages to the model, but it is still not the Interbank. The banks are going to make their spread or their not go to waste their time. Depending on the bank this will take the form of price shading or widened spreads depending on market conditions. The ECN, for its trouble, collects a commission on each transaction.
Aside from the commission factor, there are some other disadvantages a speculator should consider before making the leap to an ECN. Most offer much lower leverage and only allow full lot transactions. During certain market conditions, the banks may also pull their liquidity leaving traders without an opportunity to enter or exit positions at their desired price.

Trade Mechanics:
It is convenient to believe that in a $2tril per day market there is always enough liquidity to do what needs to be done. Unfortunately belief does not negate the reality that for every buyer there MUST be a seller or no transaction can occur. When an order is too large to transact at the current price, the price moves to the point where open interest is abundant enough to cover it. Every time you see price move a single pip, it means that an order was executed that consumed (or otherwise removed) the open interest at the current price. There is no other way that prices can move.
As we covered earlier, each bank lists on EBS how much and at what price they are willing to transact a currency. It is important to note that no Interbank participant is under any obligation to make a transaction if they do not feel it is in their best interest. There are no “market makers” on the Interbank; only speculators and hedgers.
Looking at an ECN platform or Level II data on the stock market, one can get a feel for what the orders on EBS look like. The following is a sample representation:
You’ll notice that there is open interest (Level II Vol figures) of various sizes at different price points. Each one of those units represents existing limit orders and in this example, each unit is $1mil in currency.
Using this information, if a market sell order was placed for 38.4mil, the spread would instantly widen from 2.5 pips to 4.5 pips because there would no longer be any orders between 1.56300 and 1.56345. No broker, market maker, bank, or thief in the night widened the spread; it was the natural byproduct of the order that was placed. If no additional orders entered the market, the spread would remain this large forever. Fortunately, someone somewhere will deem a price point between those 2 figures an appropriate opportunity to do something and place an order. That order will either consume more interest or add to it, depending whether it is a market or limit order respectively.
What would have happened if someone placed a market sell order for 2mil just 1 millisecond after that 38.4 mil order hit? They would have been filled at 1.5630 Why were they “slipped”? Because there was no one to take the other side of the transaction at 1.56320 any longer. Again, nobody was out screwing the trader; it was the natural byproduct of the order flow.
A more interesting question is, what would happen if all the listed orders where suddenly canceled? The spread would widen to a point at which there were existing bids and offers. That may be 5,7,9, or even 100 pips; it is going to widen to whatever the difference between a bid and an offer are. Notice that nobody came in and “set” the spread, they just refused to transact at anything between it.
Nothing can be done to force orders into existence that don’t exist. Regardless what market is being examined or what broker is facilitating transactions, it is impossible to avoid spreads and slippage. They are a fact of life in the realm of trading.

Implications for speculators:
Trading has been characterized as a zero sum game, and rightly so. If trader A sells a security to trader B and the price goes up, trader A lost money that they otherwise could have made. If it goes down, Trader A made money from trader B’s mistake. Even in a huge market like the Forex, each transaction must have a buyer and a seller to make a trade and one of them is going to lose. In the general realm of trading, this is materially irrelevant to each participant. But there are certain situations where it becomes of significant importance. One of those situations is a news event.
Much has been made of late about how it is immoral, illegal, or downright evil for a broker, bank, or other liquidity provider to withdraw their order (increasing the spread) and slip orders (as though it was a conscious decision on their part to do so) more then normal during these events. These things occur for very specific reasons which have nothing to do with screwing anyone. Let us examine why:
Leading up to an economic report for example, certain traders will enter into positions expecting the news to go a certain way. As the event becomes immanent, the banks on the Interbank will remove their speculative orders for fear of taking unnecessary losses. Technical traders will pull their orders as well since it is common practice for them to avoid the news. Hedge funds and other macro traders are either already positioned or waiting until after the news hits to make decisions dependent on the result.
Knowing what we now know, where is the liquidity necessary to maintain a tight spread coming from?
Moving down the food chain to Tier 2; a bank will only provide liquidity to an ECN or retail broker if they can instantly hedge (plus their requisite spread) the positions on Interbank. If the Interbank spreads are widening due to lower liquidity, the bank is going to have to widen the spreads on the downstream players as well.
At tier 3 the ECN’s are simply passing the banks offers on, so spreads widen up to their customers. The retailers that guarantee spreads of 2 to 5 pips have just opened a gaping hole in their risk profile since they can no longer hedge their net exposure (ever wonder why they always seem to shut down or requote until its over?). The variable spread retailers in turn open up their spreads to match what is happening at the bank or they run into the same problems fixed spreads broker are dealing with.
Now think about this situation for a second. What is going to happen when a number misses expectations? How many traders going into the event with positions chose wrong and need to get out ASAP? How many hedge funds are going to instantly drop their macro orders? How many retail traders’ straddle orders just executed? How many of them were waiting to hear a miss and executed market orders?
With the technical traders on the sidelines, who is going to be stupid enough to take the other side of all these orders?
The answer is no one. Between 1 and 5 seconds after the news hits it is a purely a 1 way market. That big long pin bar that occurs is a grand total of 2 prices; the one before the news hit and the one after. The 10, 20, or 30 pips between them is called a gap.
Is it any wonder that slippage is in evidence at this time?

Conclusions:
Each tier of the Forex market has its own inherent advantages and disadvantages. Depending on your priorities you have to make a choice between what restrictions you can live with and those you cant. Unfortunately, you can’t always get what you want.
By focusing on slippage and spreads, which are the natural byproduct of order flow, one is not only pursuing a futile ideal, they are passing up an enormous opportunity to capitalize on true inefficiencies. News events are one of the few times where a large number of players are positioned inappropriately and it is fairly easy to profit from their foolishness. If a trader truly wants to make the leap to the next level of profitability they should be spending their time figuring out how identify these positions and trading with the goal of capturing the price movement they inevitably will cause.
Nobody is going to make the argument that a broker is a trader’s best friend, but they still provide a valuable service and should be compensated for their efforts. By accepting a broker for what it is and learning how to work within the limitations of the relationship, traders have access to a world of opportunity that they otherwise could never dream of capturing. Let us all remember that simple truth.
submitted by Cross_Game to Forex [link] [comments]

Easiest Way to Provide Liquidity

Ok so i'm new to forex so please go easy on me. As I understand it, us retail traders only ever interact with the market through market orders - i.e. we take liquidity from market making brokers or banks in the case of ECN brokers. However, what if I have a strategy that requires market making to be profitable (HF comes to mind). Is there any way at all a retail trader can provide liquidity by submitting real limit orders as opposed to the 'place a market order when price reaches x' type limit orders. I'm guessing the answer to that question is no. In that case, what is the easiest way to provide liquidity in the market short of becoming a giant bank?
submitted by fbgc to Forex [link] [comments]

Trading overseas? Volume/Time related.

So I've been interested in trading for awhile. Dabbled in stocks, fx, and crypto in the past, but want to take it more seriously. I'm trying to decide on which market or product to focus on first. But, I'm currently living in Japan which severely limits what markets I can trade due to market open/close and time differences.
Stocks are off the table. I've narrowed it down to: futures, forex, or crypto. I'm using http://forex.timezoneconverter.com/ as a reference
Futures - Seems appealing given the basically 24/5 markets. But volume looks really low during off hours. NYSE open is around 9pm-5am local time, which does work well since I do have a day-job, but worry I may get stuck in a position for hours and lose a bunch of sleep. I like being able to focus on a single future, like the ES. Commissions are relatively low as well, with good leverage. Currently the most appealing option.
Forex - Real 24 hour markets. Volumes are high almost all-around, and similar to futures can focus on a single pair such as USD/JPY or USD/EUR at the beginning. Unfortunately as a US person I'm not allowed to open accounts with many ECN brokers. Oanda seems like the only real option, but they are a MM. Anyway spreads/commissions are big here and dependent on the broker, and I can't seem to find any other good brokers for FX which allow US clients. Maybe I'm searching for the wrong things?
Crypto - The dark horse. I would 100% be day trading crypto if: exchanges weren't crappy compared to real trading platforms, nor was I worried about hacking. Margin rates for shorting crypto also sucks, and given the current bear market it seems stupid to get into this only being able to trade long.
Given my situation, what would you trade?
submitted by Zerve to Daytrading [link] [comments]

Professional Forex Account Management

My name is Andrew Host and I am the CEO & Founder of the FXSyndicate.org
In the past 12 years I have worked with more than 10000 Forex traders, investors and interested individuals who were seeking advice, reliable services and methods on how to better perform on the Forex market. Let me tell you... The industry is very diverse in all its aspects, it's like a hydra with many services and individuals using and providing them, all seeking to make profits.
The main players are the Forex brokers and the Forex traders, after which comes to additional services like Forex signals, Forex account management, news and indicators providers. All these are players interacting with each other so the connections are multiple, but all leading to the final point: the Forex trader. He is the final piece of the puzzle, the one that benefits or not.
More than 90% of the Forex traders are losing money and this is due to a certain number of aspects. I will, based on my own experience and views, give some examples of genuine investors and advices for those who are not.
1. The Broker There are 100+ Forex brokers operating in the industry, differentiated by 2 main aspects: Market Makers or ECN / STP. The investor must know what these 2 means and he should conclude that a Market Maker will always play against him. A responsible investor will not deposit his money into an offshore, unregulated or poorly regulated broker, because the chances of him seeing those money again are very low. After the ESMA rules taking into action, almost all reliable brokers have a cap at 1:30 leverage. Still there are unregulated and offshore brokers who will let you use even 1:1000. The mirage is strong and many will fall for it.
ADVICE: Never use an offshore or unregulated broker. There are only a 3, 4 really reliable brokers in the industry!
2. The Equity Before making any investment decision, any responsible trader should know and accept the fact that you need money to make money. I have seen thousands of individuals seeking to make unrealistic profits with a low $500 account. That won`t happen unless you are a professional and you will build it step by step, with very rigid rules of risk management, over a long period of time. Of course, you will see advertising claiming to do that on a daily basis, but that is just a scamming method and unfortunately many fall for it.
ADVICE: Never start with a low balance account. A $5000 initial investment would be a healthy start!
3. Investor qualities What I call a good investor material is one that knows how to put patience above all. Emotions in trading are a real thing and you need to manage your instincts very well, otherwise they will manage you and the results will most likely have a negative impact on your investment. If you can not stand to see a certain degree of risk or draw-down in an open session, Forex trading might not be for you. I have seen traders and managers acting reckless when seeing negative sessions, raising the risk by quite a lot hoping to recover the lost funds and heading straight to margin call. The investor must be educated with strong financial principles, to understand the risks involved and the methods to handle and using them to generate consistent profits.
ADVICE: Never invest money you can not afford to lose and never trade money based on emotions and primary instincts!
4. The strategy When you place your money in the market we must assume that you already have a very good understanding of it and you already know that unrealistic gains does not happen overnight. You must plan your investment for medium - long term. A $5000 investment can reach a few millions in a few years. Of course it will take you a few years, but in a few years you will either be a millionaire or short of a $5000 amount. As a genuine investor you will always build capital slowly and responsible and once you reach a certain level you can diversify it and split it into multiple investments based on multiple strategies, rather than risking everything from the start.
ADVICE: Do not expect unrealistic gains overnight with a low investment. Plan it carefully and responsibly on long term!
5. Professional management Rather than losing his money on the markets by failing to understand that it takes years and years to master a profitable strategy, a responsible investor should look for professional account management if he is really decisive on investing in the Forex market. As an investor willing to let someone else manage your money, you must always get all your facts about that someone. Ask for performance proofs, analyze the way they trade, their business practice, the risk management strategy and the consistency in delivering profitable outcomes. Anything short of that, you might just do yourself a favor and stay away.
ADVICE: Always let someone manage your investment portfolio only if you are 100% convinced that your money are on good hands!
REMEMBER: Forex trading is a risky affair and should be done only by those who really understand all the key aspects of this industry. Many individuals do not understand how important this is and it results in them losing their money. Get educated, hold your emotions, choose the best environments for trading and take care of your profits! There are people on the Forex market that embodied unhealthy principles because they were fed with all the lies and unrealistic goals for so many time that they have reached a point where they highly believe the million dollar trade is just around the corner. It`s not! Should you need professional account management with over 3700% certified performance in the past 26 months, we can help! Reach us at www.fxsyndicate.org
submitted by FXSyndicate to forextopsites [link] [comments]

How to become a responsible investor in Forex

My name is Andrew Host and I am the CEO & Founder of the FXSyndicate.org
In the past 12 years I have worked with more than 10000 Forex traders, investors and interested individuals who were seeking advice, reliable services and methods on how to better perform on the Forex market. Let me tell you... The industry is very diverse in all its aspects, it's like a hydra with many services and individuals using and providing them, all seeking to make profits.
The main players are the Forex brokers and the Forex traders, after which comes to additional services like Forex signals, Forex account management, news and indicators providers. All these are players interacting with each other so the connections are multiple, but all leading to the final point: the Forex trader. He is the final piece of the puzzle, the one that benefits or not.
More than 90% of the Forex traders are losing money and this is due to a certain number of aspects. I will, based on my own experience and views, give some examples of genuine investors and advices for those who are not.
1. The Broker There are 100+ Forex brokers operating in the industry, differentiated by 2 main aspects: Market Makers or ECN / STP. The investor must know what these 2 means and he should conclude that a Market Maker will always play against him. A responsible investor will not deposit his money into an offshore, unregulated or poorly regulated broker, because the chances of him seeing those money again are very low. After the ESMA rules taking into action, almost all reliable brokers have a cap at 1:30 leverage. Still there are unregulated and offshore brokers who will let you use even 1:1000. The mirage is strong and many will fall for it.
ADVICE: Never use an offshore or unregulated broker. There are only a 3, 4 really reliable brokers in the industry!
2. The Equity Before making any investment decision, any responsible trader should know and accept the fact that you need money to make money. I have seen thousands of individuals seeking to make unrealistic profits with a low $500 account. That won`t happen unless you are a professional and you will build it step by step, with very rigid rules of risk management, over a long period of time. Of course, you will see advertising claiming to do that on a daily basis, but that is just a scamming method and unfortunately many fall for it.
ADVICE: Never start with a low balance account. A $5000 initial investment would be a healthy start!
3. Investor qualities What I call a good investor material is one that knows how to put patience above all. Emotions in trading are a real thing and you need to manage your instincts very well, otherwise they will manage you and the results will most likely have a negative impact on your investment. If you can not stand to see a certain degree of risk or draw-down in an open session, Forex trading might not be for you. I have seen traders and managers acting reckless when seeing negative sessions, raising the risk by quite a lot hoping to recover the lost funds and heading straight to margin call. The investor must be educated with strong financial principles, to understand the risks involved and the methods to handle and using them to generate consistent profits.
ADVICE: Never invest money you can not afford to lose and never trade money based on emotions and primary instincts!
4. The strategy When you place your money in the market we must assume that you already have a very good understanding of it and you already know that unrealistic gains does not happen overnight. You must plan your investment for medium - long term. A $5000 investment can reach a few millions in a few years. Of course it will take you a few years, but in a few years you will either be a millionaire or short of a $5000 amount. As a genuine investor you will always build capital slowly and responsible and once you reach a certain level you can diversify it and split it into multiple investments based on multiple strategies, rather than risking everything from the start.
ADVICE: Do not expect unrealistic gains overnight with a low investment. Plan it carefully and responsibly on long term!
5. Professional management Rather than losing his money on the markets by failing to understand that it takes years and years to master a profitable strategy, a responsible investor should look for professional account management if he is really decisive on investing in the Forex market. As an investor willing to let someone else manage your money, you must always get all your facts about that someone. Ask for performance proofs, analyze the way they trade, their business practice, the risk management strategy and the consistency in delivering profitable outcomes. Anything short of that, you might just do yourself a favor and stay away.
ADVICE: Always let someone manage your investment portfolio only if you are 100% convinced that your money are on good hands!
REMEMBER: Forex trading is a risky affair and should be done only by those who really understand all the key aspects of this industry. Many individuals do not understand how important this is and it results in them losing their money. Get educated, hold your emotions, choose the best environments for trading and take care of your profits! There are people on the Forex market that embodied unhealthy principles because they were fed with all the lies and unrealistic goals for so many time that they have reached a point where they highly believe the million dollar trade is just around the corner. It`s not! Should you need professional account management with over 3700% certified performance in the past 26 months, we can help! Reach us at www.fxsyndicate.org
submitted by FXSyndicate to ForextradingTips [link] [comments]

Trading Forex advice and professional management

My name is Andrew Host and I am the CEO & Founder of the FXSyndicate.org
In the past 12 years I have worked with more than 10000 Forex traders, investors and interested individuals who were seeking advice, reliable services and methods on how to better perform on the Forex market. Let me tell you... The industry is very diverse in all its aspects, it's like a hydra with many services and individuals using and providing them, all seeking to make profits.
The main players are the Forex brokers and the Forex traders, after which comes to additional services like Forex signals, Forex account management, news and indicators providers. All these are players interacting with each other so the connections are multiple, but all leading to the final point: the Forex trader. He is the final piece of the puzzle, the one that benefits or not.
More than 90% of the Forex traders are losing money and this is due to a certain number of aspects. I will, based on my own experience and views, give some examples of genuine investors and advices for those who are not.
1. The Broker There are 100+ Forex brokers operating in the industry, differentiated by 2 main aspects: Market Makers or ECN / STP. The investor must know what these 2 means and he should conclude that a Market Maker will always play against him. A responsible investor will not deposit his money into an offshore, unregulated or poorly regulated broker, because the chances of him seeing those money again are very low. After the ESMA rules taking into action, almost all reliable brokers have a cap at 1:30 leverage. Still there are unregulated and offshore brokers who will let you use even 1:1000. The mirage is strong and many will fall for it.
ADVICE: Never use an offshore or unregulated broker. There are only a 3, 4 really reliable brokers in the industry!
2. The Equity Before making any investment decision, any responsible trader should know and accept the fact that you need money to make money. I have seen thousands of individuals seeking to make unrealistic profits with a low $500 account. That won`t happen unless you are a professional and you will build it step by step, with very rigid rules of risk management, over a long period of time. Of course, you will see advertising claiming to do that on a daily basis, but that is just a scamming method and unfortunately many fall for it.
ADVICE: Never start with a low balance account. A $5000 initial investment would be a healthy start!
3. Investor qualities What I call a good investor material is one that knows how to put patience above all. Emotions in trading are a real thing and you need to manage your instincts very well, otherwise they will manage you and the results will most likely have a negative impact on your investment. If you can not stand to see a certain degree of risk or draw-down in an open session, Forex trading might not be for you. I have seen traders and managers acting reckless when seeing negative sessions, raising the risk by quite a lot hoping to recover the lost funds and heading straight to margin call. The investor must be educated with strong financial principles, to understand the risks involved and the methods to handle and using them to generate consistent profits.
ADVICE: Never invest money you can not afford to lose and never trade money based on emotions and primary instincts!
4. The strategy When you place your money in the market we must assume that you already have a very good understanding of it and you already know that unrealistic gains does not happen overnight. You must plan your investment for medium - long term. A $5000 investment can reach a few millions in a few years. Of course it will take you a few years, but in a few years you will either be a millionaire or short of a $5000 amount. As a genuine investor you will always build capital slowly and responsible and once you reach a certain level you can diversify it and split it into multiple investments based on multiple strategies, rather than risking everything from the start.
ADVICE: Do not expect unrealistic gains overnight with a low investment. Plan it carefully and responsibly on long term!
5. Professional management Rather than losing his money on the markets by failing to understand that it takes years and years to master a profitable strategy, a responsible investor should look for professional account management if he is really decisive on investing in the Forex market. As an investor willing to let someone else manage your money, you must always get all your facts about that someone. Ask for performance proofs, analyze the way they trade, their business practice, the risk management strategy and the consistency in delivering profitable outcomes. Anything short of that, you might just do yourself a favor and stay away.
ADVICE: Always let someone manage your investment portfolio only if you are 100% convinced that your money are on good hands!
REMEMBER: Forex trading is a risky affair and should be done only by those who really understand all the key aspects of this industry. Many individuals do not understand how important this is and it results in them losing their money. Get educated, hold your emotions, choose the best environments for trading and take care of your profits! There are people on the Forex market that embodied unhealthy principles because they were fed with all the lies and unrealistic goals for so many time that they have reached a point where they highly believe the million dollar trade is just around the corner. It`s not!
submitted by FXSyndicate to Forexhash [link] [comments]

Best/Cheapest source of live ECN market data feed (FIX API)

Hey guys. Awesome sub you got here. I'm a software engineer and I'm interested in learning more about the forex markets. Before I put any real money down, I want to analyze the data and come up with some hypotheses and backtest them.
I'm looking for a live data feed of prices, volume, market depth, etc that I can use for the analysis.
Do you guys know of a cheap/free source of such data? It needs to be ECN data or as close as possible. And historical data would be nice but not necessary, I'm looking more for a live feed.
I've look at various ECN brokers but they only offer their FIX API to institutional investors with hundreds of millions of USD in trades per month.
The cheapest I've seen is Interactive Brokers, but their minimum account balance is USD10k.
Please let me know if you know of other brokers or have any other ideas about attaining this kind of data.
Thanks
submitted by drkenta to Forex [link] [comments]

Help me to choose a broker -- Oanda, FXCM, forex.com, FXDD

Hi all,
I posted this thread on a Forex forum, I re-post it here hoping to get more advice.
I live in China, and I'm a newbie to Forex trading. I plan to deposit 5,000 USD to experiment Forex trading after I get used to the demo account. After I'm OK with 5K USD, I may invest not less than 10K.
I'm struggling to choose a broker, here are my criteria,
1, Allow hedging. I'm 100% wanting this. Indeed I'm not going to hedge the same amount of money at the same time to earn quick money (which is often used in big news event). What I want to do is, I have a long term position which will be there for several weeks, then I do some short term positions (intraday or several days). That's possible that I have two positions in two directions at the same time.
2, Money safety. During my Googling, I found that some brokers close a trader's account just because he/she earns too much money.
3, 100:1 leverage. 50:1 is not too bad but 100:1 gives me more flexibility.
4, Prefer to NDD (ECN or STP), but DD and MM is acceptable if money safety is guaranteed.
5, Regulates with NFA or FCA.
6, Support depositing using credit card. This is cheapest way for me, at least cheaper than wire transfer.
7, Easy to open an account. I prefer to open an account via internet only so I don't need post a lot of certifications to the broker.
The other points except 1 are tolerant, but I really want point 1 and I think it will be important to me.
Now comes to the brokers I've done some research on. I've checked a little with Oanda, FXCM, forex.com, and FXDD.
Oanda, the most money safety one. 50 leverage. However, it doesn't allow hedging.
All other brokers in my list are not as same money safety as Oanda.
FXCM, the one that's really annoying me is the margin. Why margin for a lot of EURUSD is $750? That's really weird and is not connected to the real price. Can any one explain to me?
Forex.com, as big as FXCM, but in the event that ECB put down the interest to 0.25% at Nov.7 this year, a lot of Chinese traders get network error and lost money. That scared me.
FXDD, not as old as Oanda, and not as big as FXCM and Forex.com, and registered in Malta...
So, what's your advice of a proper broker for me? The one not on my list is OK too.
Thanks
EDIT: another disadvantage of Oanda is that they have 6 candles a week, but it's a trivial problem since I can use other broker's MT4 for technical analysis.
submitted by wqking to Forex [link] [comments]

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submitted by kindbroker777la to pwmood72 [link] [comments]

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submitted by kindbroker777la to pwmood72 [link] [comments]

Is MT4 a scam platform ?

Is meta trader a simulated platform by the brokers ? lately i been hearing about such things and a few of my mates are recommending me to switch to ctrader as its real ECN.
EDIT: my point is that MT allows brokers to manipulate the quotes. While there are platforms that have been regulated by exchanges and don't allow using of plugins and directly forward orders to exchange. not sure if ctrader is one.
http://www.authenticfx.com/mt4-virtual-dealer-plug-in.html
PS: most exchanges have a regulated platform, is there any for forex ?
submitted by rushikesh09 to Forex [link] [comments]

CFD Navigator: New Trading Contest Starts July 6

Recently Forex broker FXOpen introduced new trading instruments, including CFDs, oil, and natural gas. ForexCup couldn’t but follow the suit. Today we launch new contest called CFD Navigator.
Lots of prizes
3 PAMM Accounts. The main prize is PAMM ECN with USD1000 in it. The runners-ups get PAMM STP Accounts with USD500 and USD200 for the 2nd and the 3rd places respectively. Real-money prizes. The prize fund of USD2000 is distributed among 8 leaders of the competition. Bonuses for success in trading. Bonus fund amounts to USD2500. Increase the start-up deposit by at least 20% and get 1% of the profit! 
ReaD More https://forum.forexcup.com/showthread.php/108737-CFD-Navigator-New-Trading-Contest-Starts-July-6?p=2156946#post2156946
submitted by izveniklickov to Forex [link] [comments]

Forex Brokers Best ECN Brokers & Truth About Market Makers ... 6.2 Market maker brokers pretending to be ECN brokers ... ✅ ¿Cuáles son los mejores Brokers ECN en 2019? True ECN Forex Brokers 2019 - YouTube Mejores Brokers ECN 2020 Crear cuenta real broker NORDFX ECN desde 10 USD 2020 ... TOP 100 forex scam brokers 2019 - YouTube Make money easy with the best Forex broker, ECN, spreads close to zero

Who are the “Real” ECN Forex Brokers? We’ve seen the reasons above why ECN Forex brokers are increasingly popular. We’ve noted that more and more brokers are advertising themselves as ECN brokers, or at least offering ECN-type accounts. There is a lot of controversy around the question of whether many of these brokers are “real” ECN brokers. So, what is a “real” ECN broker, and ... ECN forex brokers also serve as counterparties to forex transactions, although they operate on a settlement, rather than a pricing basis. Unlike fixed spreads that are offered by some market makers, the spreads of currency pairs do vary on ECNs, dependant on that particular pair’s trading activity. Market makers can also increase the spreads making it more difficult for the forex trader to ... ECN brokers are specialized Forex experts who use the Electronic Communication Network (ECN) to connect their clients with the other players in the Forex market. Since real ECN brokers do not make ... ECN Forex Brokers. ECN or Electronic Communication Network is a technology bridge that built with a purpose to links retail Forex market participants or traders to liquidity providers.. So eventually ECN is a non dealing desk bridge with straight through processing execution that enables execution in a direct connection between the parties.. What is ECN ... Raw spreads: The broker is offering the real and raw market spreads. No Slippage: ECN prevents slippage; ECN Liquidity providers. Liquidity providers are most of the time big banks or even Forex Brokers by themself. If you ask your broker the support team can tell you the exact liquidity provider. Often you will see the logos on their webpage. ECN liqduity providers have the license to give ... Some say it is the only real future for Forex trading, and some of you reading this may be wondering what on earth we’re they’re talking about. For those who want to learn more about this particular way of trading, we aim to introduce you to the concept of ECN Forex trading, explain some of the benefits, look at any downsides, and help you to find the best ECN Forex brokers for your needs ... This allows clients to believe that the more they trade the more profits the Forex ECN Brokers are making without worrying that they expect from the Brokers to make more on their losses. In addition, the agency role of the Forex Broker allows clients to use many of the trading strategies that may not be accepted by some other Brokers such as scalping, news trading and other. - However, the ... Before deciding to undertake such transactions with REAL FOREX, you should carefully evaluate whether your financial situation is appropriate for such transactions and you should make sure to obtain a clear and accurate understanding of the risks inherent to your trading. Investors may be subject to their respective local regulations or laws when using the service of this website and should ... Many forex traders prefer to work with ECN brokers because it means more liquidity, faster execution, and accurate pricing. According to some experts, true ECN forex brokers are the real future as ... A relatively new broker, operating since 2010, it has quickly become one of Australia’s best forex brokers (with many awards confirming this), highly appreciated by Asian traders and investors.Pepperstone is one of the few forex brokers to offer, in addition to the access to an ECN, a DMA (Direct Market Access) execution.

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Forex Brokers Best ECN Brokers & Truth About Market Makers ...

http://www.learncurrencytradingonline.com In this tutorial we look at finding the best ECN Forex brokers for beginners or anyone who is looking to set up a t... Best Forex broker, REAL ECN account , spreads close to zero. To create an ECN account go here: https://2no.co/2iuRV5 Dont waste money on market makers type of brookers when you can have a real ECN ... Forex brokers list - http://www.capexforextrading.com/forex-brokers Previous video – Difference between ECN, market makers and STP Forex brokers - http://www... Descubre y conoce ahora los tres mejores Brokers ECN para hacer Trading en el mercado Forex este 2020, recuerda que puedes ampliar la información de cada uno de estos Brokers en la entrada ... Conoce los mejores corredores ECN para que hagas Trading en Forex este año 2019, recuerda que estos Broker son muy buenos y seguros para operar. Para mayor información o para registrarte visita ... Crear cuenta real broker NORDFX ECN desde 10 USD 2020 LINK CUENTA FIX DESDE 10 USD: https://es.nordfx.com/accounts.html?id=1475337 LINK CUENTA PRO DESDE 250 ... ----------------------------Telegram channel --------------------- https://t.me/easyFX4u --------------------------------------------------------------------... Here is list of top true ECN brokers for forex and CFDs Trading from https://fxdailyreport.com/true-ecn-forex-brokers/

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