If we plan to become successful traders and work hard in order to implement our goals than we have more chances to succeed. If you have come to market just to gamble and have fun, the market may eventually punish you.
At the same time, your knowledge and skills are not the only crucial factors that determine success. It is also very important to find work with a reliable broker offering competitive trading conditions. Altogether, these factors will put the odds in your favor, thereby leading you to success in the long run.
Obviously, it is crucial to work with a reliable broker since if trade via a cheater or a scammer you won’t be able to make money even if you are the best trader in the world. A reliable partner is a key to success in any business. Trading is no exception.
It is also very important to determine what technology you will use to trade Forex. There are several technologies. ECN is one of them. ECN is considered the best technology for professional traders since it provides a number of benefits, including the access to the genuine interbank liquidity, fast execution of orders etc.
These days, there are dozens of broking companies offering ECN accounts. Still, there are companies that can offer the best trading conditions among ECN brokers.
There are thousands of broking companies in today’s highly-competitive Forex industry. Therefore, it is not so easy to tell good and reliable brokers from unreliable ones. Is it possible to choose a truly reliable broker while being guided by objective criteria?
Independent Rating – the Best Way to Choose a Broker
According to Eugene Olkhovsky, Masterforex-V Academy’s leading expert in financial markets from Canada, it is necessary to consider multiple factors in order to choose a reliable broker, from licenses given by major financial authorities to spreads and commissions.
However, it is very difficult to find and analyze such big arrays of information on one’s own. It requires a lot of time and effort. However, there is a way out,
A couple of years ago, Masterforex-V Academy started its own unbiased rating of Forex brokers (now it is called MasterForex-V Expo) in order to help beginning and advanced traders to find those broking companies that meet their requirements.
MasterForex-V Expo includes several nominations. One of them is the “Best ECN Broker of the Month”. The rating is based on 23 independent criteria.
Let’s have a look at the current rating of ECN brokers
Best ECN Brokers. September 2013
So, the current rating, courtesy of Masterforex-V Academy, looks as follows:
RoboForex managed to retain its leading position in the rating. Its ECN platform is based on Currenex.
RoboForex is a major international broking company specializing in automated trading. Its ECN accounts offer:
No minimal deposit
47 currency pairs
Metal trading
Low commissions stating from $2.45 per 1 trading lot
Leverage up to 1:200
Floating spreads starting from zero
Absence of re-quotes etc.
Alpari also managed to maintain its position, thereby being recognized the second best ECN broker in September 2013.
TusarFX is number 3 in the rating. This is another major broking company offering competitive trading conditions for those who utilize its ECN service.
The TOP10 also includes:
Other participants of the ECN rating also maintained their positions in the rating.
The outsider list includes:
- Instaforex,
- Manors Group Broker,
- Easy-Forex,
- 4XP.
According to Eugene Olkhovsky, Masterforex-V Academy’s leading experts in financial markets from Canada, the outsiders should pay more attentions to their ECN services since ECN trading becomes increasingly popular among Forex traders.
