ECN brokerage discussion

[EmpireGlobalfx]

We open this thread for all those colleague brokers to expose the advantages and features or ecn brokerage.

As well for our customers or prospective customers, to make their inquiries and tell about their experiences in ecn environment.

Our philosophy is of opening the world markets to customers and offering fair conditions and tools to trade the markets. In our opinion ECN brokers seek for long term and steady business relations with customers.

What do you think?

 

[ElectricSavant]

Empire,

I think the discussion for clients from the USA is eminent.

According to the Dodd-Frank Act it will be illegal for me as a resident in the USA to trade through an offshore dealer starting next month.

How do you plan on getting around this?

ES

 

[EmpireGlobalfx]

Good question.

Illegal even if you declare it?

 

[ElectricSavant]

Yes...

Quote from EmpireGlobalfx:

Good question.

Illegal even if you declare it?

 

[Samsara]

You're advertising without paying the site owners the privilege to do so.

 

[Pippi436]

Quote from EmpireGlobalfx:


Our philosophy is of opening the world markets to customers and offering fair conditions and tools to trade the markets. In our opinion ECN brokers seek for long term and steady business relations with customers.

What do you think?

I think providing a street address on your website would be a good start for being taken seriously. I think your claim that you are regulated in NZ as a financial service provider is an outright lie. I think your FX commissions of $120/million traded is ridiculous. I think this forum section needs proper moderation.

 

[EmpireGlobalfx]

Quote from Pippi436:

I think providing a street address on your website would be a good start for being taken seriously. I think your claim that you are regulated in NZ as a financial service provider is an outright lie. I think your FX commissions of $120/million traded is ridiculous. I think this forum section needs proper moderation.

Thanks for your opinion Pippi. Either you had a bad day or you belong to a market maker and it bothers you that we promote ecn and that we do not even consider market makers true brokerage firms. We are very humble knowing that we have way to go to reach where other big brokers are (like dukascopy, or sq) but we do not picture you telling bad things to some "big MM brokers" who will only try to rip your investment in two, because it is when they profit. Much as it may bother you, we'd rather stay on the customers' side.

Again, thanks for your critics, there is always time to grow and improve.

 

[EmpireGlobalfx]

Quote from ElectricSavant:

Yes...

Try an offshore vehicle... or be a victim of authority

 

[bpcnabe]

Quote from Pippi436:

I think your FX commissions of $120/million traded is ridiculous.

$35/million is expensive. What you quoted above is a joke and a clear sign of amateurs.

 

[comintel]

Quote from ElectricSavant:



According to the Dodd-Frank Act it will be illegal for me as a resident in the USA to trade through an offshore dealer starting next month.

ES

Actually it is not illegal for you to use an offshore broker.

Dodd Frank restricts foreign brokers (not investors or traders) offering their services to U.S. clients. However, the foreign brokers can argue that U.S. regulators have no jurisdiction over them, or just ignore the U.S. regulators.