After reading the links below I am convinced and I started looking for a non dealing desk broker in Forex.

And with non dealing I don't mean interbank, oanda or fxcm but really no dealing desk at all!
Read the links below and you will think the same, I am sure about that.


http://en.wikipedia.org/wiki/Forex_scams

http://en.wikipedia.org/wiki/Currency_market

http://nondealingdesk.blogspot.com/

http://nondealingdesk.blogspot.com/2006/04...s-and_21.htmlse

A few lines from the links:

The bottom line for most is a simple matter of comparison and I doubt any serious trader is going to opt to trade through any dealing desk broker once they’ve seen the difference.
Unwilling or unable to grasp the intricacies of a professional trading platform, many traders will opt to continue trading in an imaginary world created and controlled by intervening dealing desk brokers.
I’m guessing, however, that the smart money is going to migrate to non-dealing desk brokerage. The advantages are obvious.

According to Davis, unlike their dealing desk counterparts, non-dealing desk brokers offer the trader a leveler playing field. Instead of trading with a single broker offering contrived pricing, spot traders have the opportunity to trade against dozens of banks and FCMs. "It doesn’t take a genius to understand that the trader is better off when he has more options to choose from," he said.

The inspiration to create his blog, The Forex Non-Dealing Desk Trader, came early last Fall when he had a conversation with a retired Forex broker he’d met at a community function in downtown LA. “When I started talking [bragging] about my experiences as a ‘Foreign exchange trader’, he listened politely and then, after I’d pretty much revealed how little I knew, he asked me a predictable question - ‘Who’s your broker?’”

“At the time I thought that he was asking the question just to be polite but the statement that followed my response made me realize how little I knew about the industry. “I don’t mean to burst your bubble, Phil, but you aren’t trading the Forex.”

That, Davis describes, as his Dan Quayle moment.

“I tried, of course, to contest his observation but it didn’t take very long for me to realize that he knew what he was talking about - I didn’t. In the end, he convinced me that I wasn’t trading the Forex. I was trading on an artificial, off-exchange market created, controlled, and manipulated by a broker for the ultimate benefit of the broker,” Davis reported.



Thank you and happy trading to you all!

Interactive brokers,Coesfx,Hotspotfx,etc are ECN brokers that don't have dealing desk. However they require large account and u can only trade standard lot with them. MBtrading is semi-ECN but they offer mini account.

Do you have any experience or heard other people about these brokers?
Is there one who is clearly no.1 or are they sort of equal in service/price?


Is there any non dealing desk broker using metatrader4 or do they all have their own software/charts?


Thank you so far.

Are these ECN brokers using overnight interest fees or not?

Like dealing desk brokers or do they have different rules/pairs?

I think these fees are just a bonus and I like them

And in the further future I will mailnly be trading these fees, but when I do this with a dealing desk broker I think they will kick me out, so I hope the ECN brokers also have these fees.

Happy trading to you all!

CoesFX is also offering mini accounts now on MT4

That is very good news, the other ECN brokers aren't using Meta right?

I just love the platform and I don't want to change if it isn't necessary

i think the other ones will be using MT4 soon.

Good Pro-questions by knilles, i will wait for answer..
Happy trading for all.

Can someone explain ECN? I hear it quite abit. (n00b alert)

BTW: Are there people allready trading at ECN brokers here and if so, what are your experiences with them?

Witch one is the easiest/best to trade including funding and withdrawing?

Look here:


http://www.moneymakergroup.com/Electronic-Currency-Netwo-t85257.html

i think hotspotfx is great choice for non deling desk broker.

Retail broker without dealing desk.... Yeh... Right.

IBFx is a retail broker and they claim they do not have a dealing desk. I read in forums, their customer support say that the dealing desk is at IBFx's partner banks and not at IBFx. I am confused.

Alot of the banks working with retail brokers have a dealing desk.
Thats how they can handle the micro mini accounts. I like ibfx, they dont bother me.

Most of the other trustable brokers admit to having a dealers desk. Unless of course you are trading 6 figures . Then you might find some swiss company willing to go retail and let you trade with them.

Most traders knew about it. Retail brokers must have dealing desk to handle micro/mini lots either by themself or third-parties.