Forex has turned into a major source of stable income for thousands of professional traders worldwide. Still, this success would be impossible but for reputable and reliable Forex brokers helping their clients make big money. Such trusted companies are oriented towards client needs and desires, simultaneously striving hard to improve their offers (including trading conditions) to let everyone enjoy even more convenient and efficient trading.
When it comes to efficient cutting-edge technologies in trading, the technology known as ECN stands out form the crowd. It managed to revolutionize the entire trading industry a couple of years ago and has been getting increasingly popular worldwide ever since. More Forex brokers become aware of the true benefits the ECN technology can give them and their clients. Indeed, any ECN expands traders’ opportunities by letting them access genuine interbank liquidity without mediators. That is why Market Leader writes a lot about ECN brokers.
By the way, Masterforex-V Academy also underlines the importance of working with ECN brokers. Moreover, it has a standalone rating of ECN brokers within the scope of its project called Masterforex-V Expo (dedicated to rating of broking companies in numerous nominations).
Indeed, it is important to choose among reputable top-ranking brokers in the Forex industry to succeed as a Forex trader in the long run. These days, many broking companies offer ECN trading opportunities, However, this they differ in many other aspects. That is why we offer you to take a closer look at the rating of ECN broker by Masterforex-V Academy.
ECN stands for Electronic Communications Network. I guess there is no point in giving you a detail explanation of what ECN is right here. For more information, you can read the Electronic Communication Network article published in Wikipedia. In short, the network unites all the market participants – traders, banks, investment funds. This is some kind of a common trading environment where client orders are executed by means of finding the opposite order placed by another trader.
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.
ECN Advantages
According to Eugene Olkhovsky (Canada), Masterforex-V Academy’s leading expert, there are some major differences between ECN brokers and conventional ones.
1. Direct execution of orders. ECN-brokers don’t act as counteragents. They make money by charging their clients with commissions and fees for executing orders through their liquidity suppliers (major banks).
2. Direct access to the interbank. Unlike ECN-brokers, if a trader sells a conventional broker buys from him, if a trader buys, the broker sells to him. In order to hedge an order it can use its liquidity supplier. It can also hedge an order without transferring it to the interbank. In fact, conventional traders do not actually provide their clients with a true access to the interbank. Such brokers usually forbid scalping because they fail to hedge a lot of quick trades.
3. No scam. An ECN-broker cannot cheat because it doesn’t directly participate in the execution of orders. ECN-brokers are not interested in their client’s losses. They charge fees for transferring their orders to liquidity suppliers.
The bottom line: ECN-trading is suitable for professional traders, especially for scalpers and other intensive traders.
Best ECN Broker. October 2014
These days, you can find dozens of broking companies that let you trade via ECNs. Still, there are some companies that can really offer you the best trading conditions among ECN brokers.
Once again, today’s highly-competitive Forex industry offers you hundreds of related businesses competing with each other for new and existing clients. Despite this fact, it is sometimes pretty hard to tell good and reputable brokers from other scams and fakes. Is it possible to choose a true broker while being guided by objective criteria? Yes, indeed. Just turn to Masterforex-V Academy's rating of Forex brokers within the scope of Masterforex-V Expo.
The current rating of ECN brokers (as of October 2014) looks as follows:
As of October 2014, the rating was presided by RVD Markets. The company managed to outpace even the runner-up by a whole lot of points, thereby earning 13269,70 rating points during the reporting period (the voting results included). The company has been around since 2010. It is registered in the British Virgin Islands and is regulated by local financial authorities. At this point, it can offer all of its clients beneficial trading conditions coupled with the technology known as Straight Through Processing (STP for short). This technology allows the broker to let traders deliver their orders directly to major liquidity providers.
The runner-up is MillTrade. Despite the fact that this is a relatively young company, it keeps on gaining confidence and popularity in the international trading community at a pretty fast pace. The current standing in the rating confirms that. The number of rating points is 4171.00.
The 3rd most respected ECN broker in October is FIBO Group (Financial Intermarket Brokerage Online Group). This is an international financial holding founded in 1998. Since then, this has been a major international player in the Forex industry. It is not accidental, that FIBO Group is one of the leading ECN brokers out there. The number of rating points is 4099.00.
Masterforex-V Academy reminds you that the open voting is still underway. Therefore, your vote can decide the fate of the participants and influence the ultimate rating of 2014. You are welcome to participate in the open voting to add value to your favorite ECN broker.
