Hello guys I am currently with a broker who I recently discovered is a working desk broker (market maker) and not a true ECN/STP broker. Looking back I can see this is accurate with their SL search, spread manipulation and very substantial slippage a times. I am not happy about this and I spent the weekend looking for a different broker. I have narrowed down my search to Fx and Pepperstone. Both advertise themselves as true ECN/STP brokers and supply similar account options.
Fx delivers a normal STP account and a Raw ECN account, and both look pretty good to me. Pepperstone offers their Edge standard STP account and then additionally a searchable spread ECN account. From what I could see both offers comparable STP and ECN accounts with comparable options.
has a higher minimum deposit ($500) but costs less commission ($3) on their ECN accounts. Pepperstone has a lower minimum deposit ($200) but has a slightly higher commission ($3.5) on their ECN account. Both STP accounts seem the same. My questions is for all those who have accounts with both of these brokers, what your feedback on them? Positive or negative?
Is the conventional STP account good enough or would the uncooked ECN account be a better choice? Which broker could you go for?
Thanks I love your feedback.