Fastbrokersfx

[seabee40]

Does anyone use, or have an opinion of, Fastbrokersfx. Thinking of using them for live account. Results have been real good on demo.

[alan]

I recommend them ONLY for account sizes $10,000 and up..why you ask, well that's the minimum to open one of their MT4 Pro ECN feed accounts...yes, MT4 with an ECN price feed :)..cool stuff.

[seabee40]

Thanks for the info Alan

[clolab]

I recommend them ONLY for account sizes $10,000 and up..why you ask, well that's the minimum to open one of their MT4 Pro ECN feed accounts...yes, MT4 with an ECN price feed :)..cool stuff.

are you sure tehy offer MT4 with ECN price feed? What i saw is they have they own trading software for ECN.

[alan]

are you sure tehy offer MT4 with ECN price feed? What i saw is they have they own trading software for ECN.

Yep..see this:

http://fastbrokersfx.com/fx/profeed.php?VA001

[clolab]

Yep..see this:

http://fastbrokersfx.com/fx/profeed.php?VA001

hmmm i try to download the demo from the link on that page but it brings me to download the demo for there stadard "Fast Fx Trader" acocunt.
Where can i download the metatrade demo for ECN ??


thanks

[clolab]

No metatrader on ECN. I just talk with a rep. on live chat.

[liggy002]

Once I get around 15-20k, I will check them out. They offer 200:1 leverage which is perfect.

[alan]

yep 200:1 is my preferred leverage as well ( for smaller accounts) for much larger accounts it's safer I think to lower that to 100:1 or 50:1.

Here is the free demo link for the MT4 Pro Feed (ECN style):

https://secure.fastbrokersfx.com/demofx/fxpro/fxpro/index.php?VA001

[clolab]

there is no MT4 on ECN with fastbrokersfx. I have already contcted a sales support.
Ther only ECN you can currently go with MT4 is taurus global (tgmfx.com)
But they are on teh bahamas. This does not mean they are bad, its just they are not regulated in USA/Eu.
I have a demo there and it works great.

[alan]

"The Professional feed for MetaTrader 4 is designed for traders in need of an ECN like pricing based on the popular Metatrader 4. The large pool of liquidity provided by the FDM and its multiple counterpart banks generate a fast, active and at times more volatile data feed with tighter, floating spreads.

The professional feed is offered as an ECN style pricing with the benefits and execution of a MetaTrader environment."

HotspotFX is another broker which you can use MT4 + ECN on. This time it is a "pure ECN" as you'd be trading via a special MT4 to ECN bridge software. HotspotFX IS regulated.

TGFX provides the exact same thing IMHO as there is NO pure MT4 ECN network out there...period.

[seabee40]

Another broker to look at might be ATC Brokers.

[clolab]

"The Professional feed for MetaTrader 4 is designed for traders in need of an ECN like pricing based on the popular Metatrader 4. The large pool of liquidity provided by the FDM and its multiple counterpart banks generate a fast, active and at times more volatile data feed with tighter, floating spreads.

The professional feed is offered as an ECN style pricing with the benefits and execution of a MetaTrader environment."

HotspotFX is another broker which you can use MT4 + ECN on. This time it is a "pure ECN" as you'd be trading via a special MT4 to ECN bridge software. HotspotFX IS regulated.

TGFX provides the exact same thing IMHO as there is NO pure MT4 ECN network out there...period.

so you think i can use MT4 (with "TradeFLO") on hotspot on ECN stylr prices?
If so please provide the the setup link for a demo/live account. The sales peaple from hotspot was not able to do so. (perhaps he didn't know they support MT4 on ECN style.)

[clolab]

Another broker to look at might be ATC Brokers.
yep, but currently they do not accept live customers yet and don know when it will be available.I try there Demo (MT4) but the spreade where incredible high (up to 12 for eur/us)Dont know why........

[sparkz]

I tried the FastBrokers demo which does work ok but the spreads aren't very good: 4, 4 and 9 at present.

I recall someone saying ATC had poor spreads as well although I haven't seen them for myself.

Are there any ECN brokers which have decent spreads on MT4 or is it a case of waiting a while for someone like HotSpot to get their act together?

[alan]

I tried the FastBrokers demo which does work ok but the spreads aren't very good: 4, 4 and 9 at present.

I recall someone saying ATC had poor spreads as well although I haven't seen them for myself.

Are there any ECN brokers which have decent spreads on MT4 or is it a case of waiting a while for someone like HotSpot to get their act together?

4,4 and 9 for which pairs though?

Don't expect tight spreads on pairs that aren't as liquid (ie often traded). The spread on GBP/CHF for example is unlikely to reach eur/usd levels.

Hasn't anyone seen this blog post of mine?:

http://alansforexblog.com/2008/04/23/connecting-metatrader-4-to-an-ecn-broker/

As you can see there are ways to connect MT4 with an ECN broker without waiting for a broker to make it easy for us. I dunno, I may just go this route if my regular bucketshop broker (IBFX) plays tricks with my fapturbo trading. Today I had major requotes and "trade context is busy errors" on my live account. The spread on eur/gbp was like 10 pips! freaking insane when on average it should be 3 pips.

[verbtheory]

here's the log:

You are now chatting with Giovanni (Operator 011) (Forex Division)


Giovanni (Operator 011): Thank you for contacting our live support system, How may I help you today?
David T: hi i have some questions about opening up a new account
David T: what is the min balance for a mt4 ecn account?
Giovanni (Operator 011): do you mean MT4 Pro?
David T: yes
David T: does it have ecn like feeds?
Giovanni (Operator 011): $10,000
Giovanni (Operator 011): yes, basically it has floating spreads
Giovanni (Operator 011): which on the major, during hi liquidity can be as low as 0 pisp
Giovanni (Operator 011): pips
David T: ok
David T: so $10k is the lowest mt4 account available?
Giovanni (Operator 011): how did you hear about FastBrokers?
Giovanni (Operator 011): no, we also have the regular account
Giovanni (Operator 011): min. is $500
David T: reading forums and searching through all available brokers
Giovanni (Operator 011): what currency pairs do you trade?
David T: basically im evaluating brokers
David T: eurgbp, eurchf, usdcad
David T: gbpchf
Giovanni (Operator 011): i see
David T: is scalping ok with u guys?
Giovanni (Operator 011): do you trade afterhour?
David T: i will be trading whenever i have free time
David T: so ya it could b
Giovanni (Operator 011): yes scalping is okay
David T: so basically no problem with running a scalping EA... is there a commission on the mt4 pro?
Giovanni (Operator 011): on the pro yes there is a commission
Giovanni (Operator 011): on the retail there isn'st
Giovanni (Operator 011): isn't
Giovanni (Operator 011): however if you trade afterhour, I sugget you use the retail
David T: ok
David T: looking thru your website atm
Giovanni (Operator 011): do you have any trading experience?
David T: im currently trading on ODL
David T: less than 1 month exp
David T: they wont allow me to scalp
David T: so not happy at the moment
Giovanni (Operator 011): i see
Giovanni (Operator 011): are you using an EA?
David T: basically what i want to do is use an EA to scalp, then conduct manual trades when I see a strong trend
David T: yes
David T: they changed their policy on me so i'm very skittish at the moment
Giovanni (Operator 011): just be careful whenever using EAs
Giovanni (Operator 011): some may tell you huge profits, but then often in reality it's not the case
David T: do u have any exp with fapturbo?
Giovanni (Operator 011): I recommend not to let the EA running indepently, always monitor the account
Giovanni (Operator 011): i've heard of it
Giovanni (Operator 011): lot's of people are inquiring lately
Giovanni (Operator 011): but don't know actual performance
David T: it runs great, i monitor it but i basically want to use it as i said above but yes monitor... is fastbrokers ok with me using that ea on retail?
Giovanni (Operator 011): how is it performing with ODL?
Giovanni (Operator 011): yes that's okay on retail too
David T: on demo fine, live fine except the big dip in usdcad hurt me as i had a setting wrong =(
Giovanni (Operator 011): i see
David T: well im thinking of giving you guys a go... how are the spread ranges on retail?
Giovanni (Operator 011): did you try our demo?
David T: i dont believe in demos any longer, the spreads are always different unless you r saying fastbrokers is different
Giovanni (Operator 011): eurgbp 7 pips, eurchf 4 pips, usdcad 5 pips, gbpchf 9 pips
Giovanni (Operator 011): of course during normal market conditions
Giovanni (Operator 011): generally speaking trading during day trading market hours it's better
Giovanni (Operator 011): as of course there is more liquidity
David T: so is there any spread diff between demo and live?
Giovanni (Operator 011): no
David T: ok then ill try the demo
Giovanni (Operator 011): here is a link
Giovanni (Operator 011): https://secure.fastbrokersfx.com/index.php?GL001
Giovanni (Operator 011): select the very first one
Giovanni (Operator 011): FASTFX TRADER
Giovanni (Operator 011): is there anything else I can do for you?
David T: no i think that covers it
David T: actually wait
David T: how long does it take to open and fund an acct?
Giovanni (Operator 011): okay
Giovanni (Operator 011): usually 24-48 hours to open it
David T: ok thx for ur time
Giovanni (Operator 011): sometimes longer depending on how busy we are could be longer
Giovanni (Operator 011): no problem thank you
Giovanni (Operator 011): come back with any quesionts
Giovanni (Operator 011): questions


so apparently no problem with scalping and EAs... cool (cautiously optimistic)

[ardor]

there is no MT4 on ECN with fastbrokersfx. I have already contcted a sales support.
The only ECN you can currently go with MT4 is taurus global (tgmfx.com)
But they are on the bahamas. This does not mean they are bad, its just they are not regulated in USA/Eu.
I have a demo there and it works great.

Liteforex claims to be ECN.... no dealing desk.
I opened a demo account yesterday (Dec 22, '08) and am running MT4 on it.
Live account minimum = $1.00 (one dollar !!!)

Do I dare deplete my resources by such an amount....:eek:

ardor

[clolab]

Liteforex claims to be ECN.... no dealing desk.
I opened a demo account yesterday (Dec 22, '08) and am running MT4 on it.
Live account minimum = $1.00 (one dollar !!!)

Do I dare deplete my resources by such an amount....:eek:

ardor


this is whan i found about liteforex:
http://www.forexpeacearmy.com/public/review/www.liteforex.org