Ecn Brokers List and Advantages

ECN BROKER LIST
Updated March 2011

This is an update to my old post called ECN FOREX BROKERS because I see many traders come searching for the reasons to use an ECN broker or not when trading Forex, truthfully an ECN broker, a true ECN broker that is, may not be right for you and your particular situation. Moreover, an broker may claim to be an ECN but how do we know they are truly an ECN broker or not? This has been a question posed to me many times and I never really took the time to write it all out, why an ECN broker is better to use or not.  Generally speaking, there are many that argue whether correct or not that there are two opposing forces in the Forex Market when it comes to brokers, those that are market makers legally but artificially creating a sub market of sorts (their own pool of liquidity) that you are trading into that does or does not necessarily even reach the real interbank market where the world is trading; rather a market maker requires for you to win on a trade (and them to win as well) someone else in their pool of liquidity (i.e. their own brokerage) to enter into a position that loses, paying you and the brokerage, in other words, they win only if someone loses just like you do.  On ECN Brokers, this is not the case since you are putting your orders through directly to the market.  Therefore a dealing desk forex broker generally does not have any quotes from banks (the interbank market) to match the the quote for we their clients, simply put they are the one’s creating the matching quotes even if there are not traders at that instant in their pool looking to trade against your position.  Remember, someone wins, someone loses the essence of speculatory risk based trading, but using a market maker seems less and less attractive does it not? Read the story »

ZuluTrade.com — Hype or Forex Heaven?

Recently over at some forums, we’ve been discussing the many updates and improvements at ZuluTrade.com.  There are quite a few improvements on Zulu that, to me, make the website much more worthwhile to use and make profits with.

In light of all of the improvements, I believe ZuluTrade.com to be one of the most useful Forex Signal Sites ever created in history. The ease of use, reliability of the system, and the profitability of a select few of the signal providers there make it one of the greatest tools a Forex trader could have in his or her arsenal. Read the story »

Harmonic Patterns in Forex

I must say, until I found out what Harmonic Patterns were in Forex, I was, without knowing it, blind to many aspects to what make certain moves occur at certain times seemingly without warning; no price action, or indicator could help you predict certain moves. Then comes my learning of Harmonic Patterns with use of MetaTrader4. Read the story »