Finally a REAL ECN MT4 broker? - page 3
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I am pissed!
Yep! I've posted it more than once, "MT4 = Market Maker/Bucket Shop"! I will say it again, "both the client terminal (MT4) and server side broker terminal require a dealing desk on the back to function". However, MT4 is still the most powerful open source charting platform out there and it's easy to "hack" your way around the problem. (i.e. bridges, instant messaging, etc...)
HotSpot has a bridge (so I hear) and a few other ECN's are moving towards an MT4 solution. Use MT4, but keep your money away from the bucket shops. If every MT4 trader stopped using Market Makers, then Metaquotes would be forced to modify MT4 for the ecn's... Just a thought... hint, hint...
that goes for all brokers,not only the ones using mt4.
Forex is shit comparing to futures,stocks,cfds...just because every bank,broker can make quotes itself for forex,it is not centralised market.
Forex trader in order to make constant profit have to be :
genius or crazy (is it not same thing ?) + disciplined like a soldier + coldblooded + lucky ...(divorced is for sure)
and what do you think how many of us have those characteristics ???
That is why forex brokers are fighting to get us as clients,easy money....
but i will continue fighting
crazy enough 
until i get my account to the level where i can trade easier things than forex
that goes for all brokers,not only the ones using mt4.
Forex is shit comparing to futures,stocks,cfds...just because every bank,broker can make quotes itself for forex,it is not centralised market.
Forex trader in order to make constant profit have to be :
genius or crazy (is it not same thing ?) + disciplined like a soldier + coldblooded + lucky ...(divorced is for sure)
and what do you think how many of us have those characteristics ???
That is why forex brokers are fighting to get us as clients,easy money....
but i will continue fightingSo I'm guessing you trade stocks then?
CFTC report?
I can't find ikon royal in last CFTC report. I've listened that they had a liquidity problem but I can't find them. In september 2007, they have figured as royal forex trading llc.
CFTC deleted!
Well, I found in the oct/2007 CFTC report that Royal Forex Trading LLC has been deleted! Is that the same Ikon royal?
Finally a REAL ECN MT4 broker? Reply to Thread
Royal merged with Ikon a couple of months ago. That's the reason you don't see Royal anymore.
Ikon GM
let me make picture clear.
Ikon GM is not an ECN.
What you see in MT4 pricing and spreads really reflects institional pricing.
Company is transparent you may always compare with Reuters Fx feed or Bloomberg.
So you are trading with the real institional pricing.
When it goes to execution you will find the following:
Less speed of execution rather then at ECNs 2-3 seconds against milliseconds at Hotspot or Currenex.
This is minus.
But minimum account size is very resonable, several times lees then in ECN.
This is plus
No commission against standard commission of 3 usd per standard lots in ECN (which is equal to 0.6 pip per round lot).
This is plus.
about requotes , do you think that there are no requotes in ECNs? there are re-quotes!
About spread and slippage , spread could be even 10 pip on eur/usd and slippage could be even 50 pips, in case of gap.
Also remmember that every participant of ECN is market maker!
My conclusion is that IKON is nice place for retail traders , but not perfect.
But approach with floating spread and institional pricing is very good.
I can't find ikon royal in last CFTC report. I've listened that they had a liquidity problem but I can't find them. In september 2007, they have figured as royal forex trading llc.
You can find Ikon Royal on CFTC report with his NFA registered name: IFSCL USA Inc.
Ikon royal forex is ECN broker...