Oh yeah, and we provide detailed trade receipts for all of your trades. For the first time ever you’ll have access to the same level of transparency as institutional traders, including; which bank filled your trade, the slippage, speed, order book and tick charts showing market impact.
The Global Prime ECN account is for traders who demand absolute performance from their broker.
Electronic Communications Networks or ‘ECNs’ are off-exchange execution venues which allow market participants to trade with a range of counterparties anonymously. They are the main trading venues for OTC markets such as Foreign Exchange and Metals.
This basically means ECNs provide the technology and venue for price makers aka ‘liquidity providers’ to distribute their liquidity. Price takers (traders) can see these prices and execute trades against them. The ECN is therefore responsible for prices/quotes and the execution of orders.
Institutional ECNs can be accessed through a prime broker while retail ECNs can be accessed through a retail forex broker. There are different characteristics to each, however, they both provide access to the interbank foreign exchange market. If you’re not getting direct (STP) access to interbank liquidity then you’re not trading via an ECN.
Global Prime provides automated trade receipts for all of your trades so you can see which bank executed your trade, fill speed, slippage, the full order book and even a tick chart for market impact.
Trade receipts are a tool to empower our traders to make better trading decisions using the same information institutional traders rely on. This is just another way we’re leveling the playing field for the betterment of all retail traders.
We trade with, and not against you. But what does this even mean?
|Global Prime ECN||Market maker or ‘ECN Pricing’|
|No conflict of interest between you making money and broker profitability?|
|Wants clients to trade profitably?|
|Does not make money from your losses?|
|Does not make hedge execution decisions based on client trading behaviour or account profitability?|
|Does not benefit from wider spreads causing stop out of retail traders.|
|Does not benefit from interbank stop hunting.|
Lots of brokers claim to be ‘ECN’ but really they’re just running B-books and trading against theirclients. Here are some easy ways to spot a fake: