Hello guys I'm currently with a broker who I recently found out is a working desk broker (market maker) and not a legitimate ECN/STP broker. Looking back I can see that this is accurate with their SL search, spread manipulation and large slippage a times. I'm unhappy about this and I spent the weekend searching for a different broker. I've narrowed down my search to Pepperstone and Fx. Both advertise themselves as true ECN/STP brokers and supply account choices.
Fx offers a normal STP account along with also a Raw ECN account, and the two look pretty good to me. Pepperstone provides their Edge STP account and additionally a searchable spread ECN account. From what I could see both provides comparable STP and ECN accounts with comparable choices.
has a greater minimum deposit ($500) but costs less commission ($3) in their ECN accounts. Pepperstone has a lower minimum deposit ($200) but has a slightly higher commission ($3.5) in their ECN account. The two STP accounts seem exactly the same. My questions is for all those who have accounts with either of these brokers, what your comments on these? Positive or negative?
Is the standard STP account good sufficient or would the uncooked ECN account be a better choice? Which broker would you opt for?
Thanks I appreciate your comments.