I have tried to compile some informations on brokers for those who are new. I also did a little research on Dealing Desk and non Dealing desk brokers. Opinion is true most of the time but not all the time. Hope it makes it easier for newcomers.
1. Non-dealing desk ( ECN ) brokerage firms do not trade against their clients. They do not take positions that conflict with your interests. Not the case with most dealing desk brokers. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
2. Non-dealing desk ( ECN ) brokers offer every trader, big and small, equal access to the interbank market. The rates (bid and ask prices) on a non-trading desk platform are not those set by an individual broker but those derived from active trading between participating banks, institutional investors, FCM's and individual traders.
3. Non-dealing desk ( ECN ) brokers do not know or have a need to know your positions so stop loss orders are not/cannot be targeted by maipulated spikes. Dealing desk brokers could spike the price and often knocking out your stops.
4. Non-dealing desk ( ECN ) broker rates as well as bid/ask prices come directly from the interbank system. They are not filtered nor manipulated like dealing desk brokers. If you constantly receive reqoutes even though there is no News release, your order is delayed, you seem to be unable to connect to broker’s server, unable to close your trade, price bid/ask is slow or not correct ( compare it with other platforms ), your are probably dealing with an unhonest dealing desk broker.
5. Traders almost never get "reorders or reqoutes" from a non-dealing desk ( ECN )broker.<o></o>
Thus when you are trading news, you orders are filled. At the dealing desk brokers, you will have the problems mentioned in above No: 4
6. With the non dealing desk ( ECN )brokers you need a minimum of USD10’000 to open an account. With the dealing desk brokers, you could open an account with as little as USD100
7.With most non dealing desk brokers ( ECN ) your funds are kept separated from the broker’s company expenses. If the broker goes bankrupt your funds are not touched. With most dealing desk brokers your funds could be used to pay the broker’s debitors. <o></o>
Note: A simple note on your contract that your funds will not be use by the broker is no inssurance. It should normally be in the bank contract issued by the bank that the funds are yours or in the broker’s founding articles aknowledged by the legal authourities.<o></o>
8. Spreads are in a constant state of flux and when traders trade through a non-dealing desk, they may see a dozen or more banks posting rates - the most attractive appearing above all the others. During peak trading hours, spreads can drop to zero, a fact most traders using a dealing desk are not aware of. During off-peak hours, spreads can be considerably higher. <o></o>
<o></o>
<o></o>
PS – Will update as more information comes in. ! ! !
Below is a list of dealing Desk brokers.<o></o>
<o></o>
<o></o>
1st Direct Futures (IB) * 1 World Forex * 4Xdirect *
4XFindMe (IB) * ACM (Alternative Capital Management) *
AC Markets * Admiral Investments & Securities * <o></o>
Advanced Currency Markets SA * Advanced Markets, Inc.
AFXI * AKForex * Akmos Trade * AlaronFx * Alpari * Amifx
ANCO Fx * Apex Forex<o></o>
<o></o>
Castle FX * CBFX * CFOS/FX * Charter FX * CMC Markets *
CMS Forex (Capital Market Services) * Compass FX * Currency Connect Trading
* dbFX * Deal4Free (CMC Markets) * Delta Stock * DIF Broker * Direct Forex
<o></o>
Easy-Forex * ECN Broker * EFX Group * Enet Speculation * Express Trade
<o></o>
FEXCA * Fibogroup * Fibogroup Canada * Finotec Group * Forex.com (Gain Capital) * Fx Dealer Direct * Forexhsi * Fox Forex * Frieberg Direct * <o></o>
FxActive * FxAdvantage * FXCH * FXCM (Forex Capital Markets) * FXDD
* Fx Euro Club * FxInternational Group * FXITG (Forex International Trading Group) * FXINTL * FxInvest Online * FxShell * Fx Solutions * FxStreet (IB) *
Fx Trading * FxUniversal <o></o>
<o></o>
Gain Capital Group (Forex.com) * GCI Capital * GCI Financial * GFT *
GFXFOREX * GFX * Global Bank FX * Global Forex Market * Global Forex Trading *
Goldberg Forex Group * GTL Trading<o></o>
High Steet Networking<o></o>
<o></o>
IFC Markets * IFX Markets * IG Markets * Interactive Brokers *
InterbankFX * InterBank Group * Itg Forex * <o></o>
<o></o>
Kerford Investments
<o></o>
Marketiva * MDI Corp * MetexInvest (FXCM IB) * MG Financial Group *
MBTrading * Mfgfx * MIGFX * Millenium Penta Futures * Money Forex Financial
<o></o>
Neuimex * North Finance * <o></o>
<o></o>
Oanda * One World Capital Group * One World Forex * <o></o>
<o></o>
Phi Capital Management * Pip Forex * Premier Investment * Premier Trade Forex *
ProEdgeFx (IB) * Pro-Forex *<o></o>
QuestTradeFx
<o></o>
RCG Fx Trader * RealTime Forex * RealTrade * RJO Fx * <o></o>
Saxobank * Soco Finance * Speed Forex * Spencer Financial *
STS Finance * SwissForex<o></o>
TimesForex * Traders Exchange * Trade Freedom * Trade Monster
TradeStation Securities * Trading Intl * True Forex<o></o>
Velocity4x
<o></o>
WestCapFx
Windsor Brokers
<o></o>
XpresstradeFX
Zaner (IB)
<o></o>
MT4 Brokers<o></o>
<o></o>
Admiral Investments and Securities Ltd. http://www.forextrade.ru/
Alpari Ltd. http://www.alpari-idc.com/
APEX FX Trading http://www.apexfxtrading.com/
Bull Trend Brokerage http://www.bulltrend-bg.com/
FiboGroup http://www.fibogroup.com/
EuroForex Development LLC. http://www.euroforex.net/
fxTeam http://www.fxteam.ru/
Financial Network Worldwide Ltd. http://www.forexservice.net/
FinMarket Ltd. http://www.finmarket.com.ua/
Forex Global Investment LLC http://www.forexgi.com/
Forex Ltd. http://www.forexua.com/
FX-Pro Ltd. http://www.fx-pro.com/
IC Vector Securities Ltd. http://www.icvector.ru/
Inforex Introducing Broker http://www.inforex.org/
Integral Bank http://www.fxintegral.com.ua/
Interbank FX http://www.interbankfx.com/
Jaguars Investment LLC http://www.jaguarsinvestment.com/
Joy Financial Group http://www.joyfg.com/
KVB Kunlun New Zealand Limited http://www.kvbkunlun.com/
Lefco Bank http://www.lefco.ru/
Livingston Investment Inc. http://www.mytrustbank.com/
Man Financial (S) Pte Ltd http://www.manfinancial.com.sg/
MIG Investments Group LLC http://www.miginvest.com/
Orion Global Financial Services http://www.orionbrokers.com/
Performance Forex GmbH http://www.eforex-asia.com/
Real Trade Ltd. http://www.realtrade.lv/
STS Finance SC http://www.finance.sts.bg/
Teletrade D.J. International Consulting Ltd. http://www.teletrade.ru/
The Commercial Group http://www.cgtim.com/
TradeFXDirect.com, Inc. http://www.tradefxdirect.com/
Ukrsotsbank http://forex.ukrsotsbank.com/
Windsor Brokers Ltd. http://www.windsorbrokers.biz/
X-Trade Sp. z o.o. http://www.x-trade.biz/
FXBest http://www.fxbest.ru/
ManFinancial http://www.manfinancial.com.sg/en/
SNC investment http://www.sncinvestment.com/
FXDirectDealer http://fxdd.com/
Neurex http://www.neurex.de/
Westcapfx http://www.westcapfx.com/
North Finance http://www.northfinance.com/<o></o>
<o></o>
For more : <o></o>
http://www.forexfactory.com/forexforum/showpost.php?p=44567&postcount=2<o></o>
http://www.forexfactory.com/forexfor...78&postcount=7
<o></o>
Other brokers:
http://www.forex-brokers-list.com/
<o></o>
Ratings & comments on some brokers<o></o>
<o></o>
http://www.forexbastards.com/broker_reviews.shtml
<o></o>
Those not yet rated will need your comments.
If your broker is not in the list, please add in.
<o></o>
Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
<o></o>
Advice 1 : Demo trading is not real – live trading . When you begin in the real/live, use minimum lot size to test first.<o></o>
Advice 2 : Choose a broker which is controled /regulated by the right authourities and REGISTERED in a good serious country.<o></o>
1. Non-dealing desk ( ECN ) brokerage firms do not trade against their clients. They do not take positions that conflict with your interests. Not the case with most dealing desk brokers. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
2. Non-dealing desk ( ECN ) brokers offer every trader, big and small, equal access to the interbank market. The rates (bid and ask prices) on a non-trading desk platform are not those set by an individual broker but those derived from active trading between participating banks, institutional investors, FCM's and individual traders.
3. Non-dealing desk ( ECN ) brokers do not know or have a need to know your positions so stop loss orders are not/cannot be targeted by maipulated spikes. Dealing desk brokers could spike the price and often knocking out your stops.
4. Non-dealing desk ( ECN ) broker rates as well as bid/ask prices come directly from the interbank system. They are not filtered nor manipulated like dealing desk brokers. If you constantly receive reqoutes even though there is no News release, your order is delayed, you seem to be unable to connect to broker’s server, unable to close your trade, price bid/ask is slow or not correct ( compare it with other platforms ), your are probably dealing with an unhonest dealing desk broker.
5. Traders almost never get "reorders or reqoutes" from a non-dealing desk ( ECN )broker.<o></o>
Thus when you are trading news, you orders are filled. At the dealing desk brokers, you will have the problems mentioned in above No: 4
6. With the non dealing desk ( ECN )brokers you need a minimum of USD10’000 to open an account. With the dealing desk brokers, you could open an account with as little as USD100
7.With most non dealing desk brokers ( ECN ) your funds are kept separated from the broker’s company expenses. If the broker goes bankrupt your funds are not touched. With most dealing desk brokers your funds could be used to pay the broker’s debitors. <o></o>
Note: A simple note on your contract that your funds will not be use by the broker is no inssurance. It should normally be in the bank contract issued by the bank that the funds are yours or in the broker’s founding articles aknowledged by the legal authourities.<o></o>
8. Spreads are in a constant state of flux and when traders trade through a non-dealing desk, they may see a dozen or more banks posting rates - the most attractive appearing above all the others. During peak trading hours, spreads can drop to zero, a fact most traders using a dealing desk are not aware of. During off-peak hours, spreads can be considerably higher. <o></o>
<o></o>
<o></o>
PS – Will update as more information comes in. ! ! !
Below is a list of dealing Desk brokers.<o></o>
<o></o>
<o></o>
1st Direct Futures (IB) * 1 World Forex * 4Xdirect *
4XFindMe (IB) * ACM (Alternative Capital Management) *
AC Markets * Admiral Investments & Securities * <o></o>
Advanced Currency Markets SA * Advanced Markets, Inc.
AFXI * AKForex * Akmos Trade * AlaronFx * Alpari * Amifx
ANCO Fx * Apex Forex<o></o>
<o></o>
Castle FX * CBFX * CFOS/FX * Charter FX * CMC Markets *
CMS Forex (Capital Market Services) * Compass FX * Currency Connect Trading
* dbFX * Deal4Free (CMC Markets) * Delta Stock * DIF Broker * Direct Forex
<o></o>
Easy-Forex * ECN Broker * EFX Group * Enet Speculation * Express Trade
<o></o>
FEXCA * Fibogroup * Fibogroup Canada * Finotec Group * Forex.com (Gain Capital) * Fx Dealer Direct * Forexhsi * Fox Forex * Frieberg Direct * <o></o>
FxActive * FxAdvantage * FXCH * FXCM (Forex Capital Markets) * FXDD
* Fx Euro Club * FxInternational Group * FXITG (Forex International Trading Group) * FXINTL * FxInvest Online * FxShell * Fx Solutions * FxStreet (IB) *
Fx Trading * FxUniversal <o></o>
<o></o>
Gain Capital Group (Forex.com) * GCI Capital * GCI Financial * GFT *
GFXFOREX * GFX * Global Bank FX * Global Forex Market * Global Forex Trading *
Goldberg Forex Group * GTL Trading<o></o>
High Steet Networking<o></o>
<o></o>
IFC Markets * IFX Markets * IG Markets * Interactive Brokers *
InterbankFX * InterBank Group * Itg Forex * <o></o>
<o></o>
Kerford Investments
<o></o>
Marketiva * MDI Corp * MetexInvest (FXCM IB) * MG Financial Group *
MBTrading * Mfgfx * MIGFX * Millenium Penta Futures * Money Forex Financial
<o></o>
Neuimex * North Finance * <o></o>
<o></o>
Oanda * One World Capital Group * One World Forex * <o></o>
<o></o>
Phi Capital Management * Pip Forex * Premier Investment * Premier Trade Forex *
ProEdgeFx (IB) * Pro-Forex *<o></o>
QuestTradeFx
<o></o>
RCG Fx Trader * RealTime Forex * RealTrade * RJO Fx * <o></o>
Saxobank * Soco Finance * Speed Forex * Spencer Financial *
STS Finance * SwissForex<o></o>
TimesForex * Traders Exchange * Trade Freedom * Trade Monster
TradeStation Securities * Trading Intl * True Forex<o></o>
Velocity4x
<o></o>
WestCapFx
Windsor Brokers
<o></o>
XpresstradeFX
Zaner (IB)
<o></o>
MT4 Brokers<o></o>
<o></o>
Admiral Investments and Securities Ltd. http://www.forextrade.ru/
Alpari Ltd. http://www.alpari-idc.com/
APEX FX Trading http://www.apexfxtrading.com/
Bull Trend Brokerage http://www.bulltrend-bg.com/
FiboGroup http://www.fibogroup.com/
EuroForex Development LLC. http://www.euroforex.net/
fxTeam http://www.fxteam.ru/
Financial Network Worldwide Ltd. http://www.forexservice.net/
FinMarket Ltd. http://www.finmarket.com.ua/
Forex Global Investment LLC http://www.forexgi.com/
Forex Ltd. http://www.forexua.com/
FX-Pro Ltd. http://www.fx-pro.com/
IC Vector Securities Ltd. http://www.icvector.ru/
Inforex Introducing Broker http://www.inforex.org/
Integral Bank http://www.fxintegral.com.ua/
Interbank FX http://www.interbankfx.com/
Jaguars Investment LLC http://www.jaguarsinvestment.com/
Joy Financial Group http://www.joyfg.com/
KVB Kunlun New Zealand Limited http://www.kvbkunlun.com/
Lefco Bank http://www.lefco.ru/
Livingston Investment Inc. http://www.mytrustbank.com/
Man Financial (S) Pte Ltd http://www.manfinancial.com.sg/
MIG Investments Group LLC http://www.miginvest.com/
Orion Global Financial Services http://www.orionbrokers.com/
Performance Forex GmbH http://www.eforex-asia.com/
Real Trade Ltd. http://www.realtrade.lv/
STS Finance SC http://www.finance.sts.bg/
Teletrade D.J. International Consulting Ltd. http://www.teletrade.ru/
The Commercial Group http://www.cgtim.com/
TradeFXDirect.com, Inc. http://www.tradefxdirect.com/
Ukrsotsbank http://forex.ukrsotsbank.com/
Windsor Brokers Ltd. http://www.windsorbrokers.biz/
X-Trade Sp. z o.o. http://www.x-trade.biz/
FXBest http://www.fxbest.ru/
ManFinancial http://www.manfinancial.com.sg/en/
SNC investment http://www.sncinvestment.com/
FXDirectDealer http://fxdd.com/
Neurex http://www.neurex.de/
Westcapfx http://www.westcapfx.com/
North Finance http://www.northfinance.com/<o></o>
<o></o>
For more : <o></o>
http://www.forexfactory.com/forexforum/showpost.php?p=44567&postcount=2<o></o>
http://www.forexfactory.com/forexfor...78&postcount=7
<o></o>
Other brokers:
http://www.forex-brokers-list.com/
<o></o>
Ratings & comments on some brokers<o></o>
<o></o>
http://www.forexbastards.com/broker_reviews.shtml
<o></o>
Those not yet rated will need your comments.
If your broker is not in the list, please add in.
<o></o>
Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
<o></o>
Advice 1 : Demo trading is not real – live trading . When you begin in the real/live, use minimum lot size to test first.<o></o>
Advice 2 : Choose a broker which is controled /regulated by the right authourities and REGISTERED in a good serious country.<o></o>