james.c.connor
Recruit
- Messages
- 17
Hi Friends , i will update this post as soon as the hotforex can proof they are real and true ECN/STP broker.
today I chat and ask hotforex support that are they an STP broker or just a market maker who play like a Stp broker with special algorithm to show traders market execution environment?, and show me the proof , they dont have any thing that show they are STP broker , they just pass me to the regulatory page.they told me that there is no thing in this time to show me for proof. so why they call themselves as an STP broker ? So i think they do it because they want to claim they are ECN/STP, not market maker. They proudly advertise it on their sites. As I will show you here , they are ECN/STP from the electronic point of view, but they are market maker indeed if they cant proof they are not!keep this in your mind that a market maker always try do something against you , because your loose will go in their pocket.
First you must know the different between Ecn , Stp and market makers.you must know that scam brokers never stop cheating. Since most traders look for ECN/STP brokers to open an account with, many scam brokerages that were used to be market maker, call themselves ECN/STP now, just based on some small changes they have made in their systems. They are not true ECN/STP brokers. This is what you have to be aware of. So, what is the difference of a true and a false ECN/STP broker?
STP stands for Straight Through Processing. It means everything from placing the orders to closing them is done automatically and electrically without any manual intervention.
ECN BrokerDoes it mean that if a brokers electronically and without any human intervention connects the platform you install on your computer to another organization called liquidity provider, it is an ECN/STP broker?
Technically speaking yes. It is an ECN/STP broker, because it routes your orders to a liquidity provider electronically and without any human intervention. But what if that so called “liquidity provider” is another market maker broker that belongs to the same company but with a different name, or a sister company?
That is still an ECN/STP broker from the electronic and technological point of view. But it is a fake ECN/STP broker, because he routes your orders to another market maker broker that rips you off and shares the profit with him (the broker). Or, it routes your orders to a different system with a different name which indeed belongs to the same company. I mean they take your money from one pocket and put it in another pocket. In both cases, you are not trading with the real currency world. You are dealing with a market maker broker that wants you to lose.
Why do they do this?
They do it because they want to claim they are ECN/STP, not market maker. They proudly advertise it on their sites. As I mentioned, they are ECN/STP from the electronic point of view, but they are market maker indeed.
Who Is a True ECN/STP Broker?
A true ECN/STP broker is the one that its platform is connected to at least one trusted and well-known liquidity providing organization (like Bank of America, Goldman Sachs, JP Morgan, Citi Bank, Nomura, HSBC) that has nothing to do with brokerage firm and there is no relationship between them. The broker just routes your orders to the liquidity provider. The liquidity provider makes money through the spread and swap and the broker makes money through the commission they charge you. You pay the spread and swap to the liquidity provider, and the commission to the broker.
Nowadays, most true ECN/STP brokers are connected to several liquidity providers at the same time. When you want to place an order, the system automatically chooses the liquidity provider that is offering the best price, and your order will be routed to that liquidity provider. Therefore, your orders will be distributed among several liquidity providers and none of them will have any chance to know your account and go against you in case you make money. That provides the best possible service for you as a trader, and because liquidity providers compete with each other, they offer lower spread every day which is good for retail traders.
Some brokers are true ECN/STP brokers, but they increase the spread in addition to the commission they charge you. What they add to the spread is called markup. They are not allowed to do that, unless they let the clients know. However, many of them don’t inform the clients about this hidden fee and extra charge and when you ask them why the spread is too high, they answer that it is the market’s normal spread, which is a lie. So, even a true ECN/STP broker can cheat you too.
So, when you want to choose a broker, make sure it is a true ECN/STP broker first. Also ask them if they charge markups or not. You have to ask them about this and ask for proofs. In case they refused to give you a good answer, don’t open an account with them.
here is the chat with them. there is a snapshot too.
Please wait for a HotForex operator to respond.
You are now chatting with 'Sofia'
Sofia: Start the New Trading Year with an exciting schedule of FREE trading Webinars! Click HERE to register! Welcome to HotForex! My name is Sofia, how may I help you?
james: HI
Sofia: hello James
Sofia: How can I help?
james: what kind of broker you are ? ECN / STP or market maker
Sofia: we are an STP broker James
james: true stp?
Sofia: yes James
james: nice
Sofia:
james: there are many brokers out there who tell me that they are true STP
james: but i need to make sure about it!
james: so can i ask you for proof?
Sofia: we are an STP broker James
Sofia: please wait
james: okey
Sofia: thank you
Sofia: STP (Straight Through Processing) forex brokers send orders directly from clients to the liquidity providers. The more there are banks and liquidity in the system, the better the fills for the clients.
Sofia: The fact that traders have access to the true market and can execute trades immediately without dealer intervention is what makes the platform STP.
Sofia: click here
james: yes . thank you sofia
james: but
james: this is the meaning of STP
james: A true ECN/STP broker is the one that its platform is connected to at least one trusted and well-known liquidity providing organization (like Bank of America, Goldman Sachs, JP Morgan, Citi Bank, Nomura, HSBC)
Sofia:
james: so what i ask you is that , do you have any proof to show me that you are an TRUE STP BROKER SOFIA?
Sofia: ok thank you
Sofia: James please wait
james: okey
Sofia: thank you very much
james: and i am waiting ..... and waiting
Sofia: James on our website at the moment I cannot find,
james: its so important for your name and Honesty of hotforex to show me some proof
Sofia: James , I will search also for you more
james: otherwise any marketmaker out there can tell themself as an STP broker
Sofia: and advise you via email if you wish
james: can i have that email?
Sofia: I mean , can you please provide me with your email address
james: james.c.connor@gmail.com
Sofia: and as soon I find the proof you need, I will send it to you via email
Sofia: if that is ok for you
james: and one more thing
Sofia: sure
Sofia: please go ahead
james: can i publish this chat in forum? and wait for your email to update that post?
Sofia: James , you are free to act as you wish , however I will appreciate it if you have given me the chance to find this specific information you need and send it to via email
Sofia: you have asked for something very specific for which requires from side some additional search , that I am willing to do for you
Sofia: and inform you fully
james: ok , so i post it and wait for email to update my post , its importent for your repitation in forex peace army
Sofia: of course it is important as for all brokers, that this will be a meaningless action , as we have all the good intention to inform you
Sofia: please wait
james: w8 in chat room you mean?
Sofia: please wait
Sofia: since you know STP brokers use Market execution
Sofia: while Market Makers use instand execution
Sofia: if you login into our MT4 platform you can also see that we are using Market execution
james: yes , and market makers who want too show that they are stp use special algoritm to act like market execution
james: the proof is simple sofia , but it must show up from you
Sofia: as mentioned above we are an STP broker
Sofia: as you can experience this after you open an account and trade with HotForex
james: yes and i accept that with regards , so i need the proof of it
Sofia: unfortunately at the website , there is nothing posted that will confirm this as you wish to see it
james: and proof to be an STP brocker is very common so i dont need open account sofia
james: ok i wait for more from email and post our chat
james: thank you sofia
Sofia: if you wish to discus the issue on a more senior level
Sofia: we can arrange a call from with one of our experts James
james: the senior level can send expert proof in email so i can update my post about who say i am an STP brocker and realy is , and who tell it because it sounds Good
james: broker*
Sofia: ok James, HotForex is a high regulated company and you are free to act the way you wish
Sofia: we nevertheless we will contact you via email as advised
Sofia: and we also offered to arrange a call for you
Sofia: we are very sorry that you came to chat with bad intention
Sofia: we hope after you try trading with our to convinced for the contrary
Sofia: *with us
Sofia: we fully understand your worries as a trader
Sofia: however, we hope that our license and regulatory body to be enough to trust us
james: Honest broker can simply Show proofs , with best regards
source: www.fxkeys.com/the-difference-of-true-and-false-ecnstp-brokers
today I chat and ask hotforex support that are they an STP broker or just a market maker who play like a Stp broker with special algorithm to show traders market execution environment?, and show me the proof , they dont have any thing that show they are STP broker , they just pass me to the regulatory page.they told me that there is no thing in this time to show me for proof. so why they call themselves as an STP broker ? So i think they do it because they want to claim they are ECN/STP, not market maker. They proudly advertise it on their sites. As I will show you here , they are ECN/STP from the electronic point of view, but they are market maker indeed if they cant proof they are not!keep this in your mind that a market maker always try do something against you , because your loose will go in their pocket.
First you must know the different between Ecn , Stp and market makers.you must know that scam brokers never stop cheating. Since most traders look for ECN/STP brokers to open an account with, many scam brokerages that were used to be market maker, call themselves ECN/STP now, just based on some small changes they have made in their systems. They are not true ECN/STP brokers. This is what you have to be aware of. So, what is the difference of a true and a false ECN/STP broker?
STP stands for Straight Through Processing. It means everything from placing the orders to closing them is done automatically and electrically without any manual intervention.
ECN BrokerDoes it mean that if a brokers electronically and without any human intervention connects the platform you install on your computer to another organization called liquidity provider, it is an ECN/STP broker?
Technically speaking yes. It is an ECN/STP broker, because it routes your orders to a liquidity provider electronically and without any human intervention. But what if that so called “liquidity provider” is another market maker broker that belongs to the same company but with a different name, or a sister company?
That is still an ECN/STP broker from the electronic and technological point of view. But it is a fake ECN/STP broker, because he routes your orders to another market maker broker that rips you off and shares the profit with him (the broker). Or, it routes your orders to a different system with a different name which indeed belongs to the same company. I mean they take your money from one pocket and put it in another pocket. In both cases, you are not trading with the real currency world. You are dealing with a market maker broker that wants you to lose.
Why do they do this?
They do it because they want to claim they are ECN/STP, not market maker. They proudly advertise it on their sites. As I mentioned, they are ECN/STP from the electronic point of view, but they are market maker indeed.
Who Is a True ECN/STP Broker?
A true ECN/STP broker is the one that its platform is connected to at least one trusted and well-known liquidity providing organization (like Bank of America, Goldman Sachs, JP Morgan, Citi Bank, Nomura, HSBC) that has nothing to do with brokerage firm and there is no relationship between them. The broker just routes your orders to the liquidity provider. The liquidity provider makes money through the spread and swap and the broker makes money through the commission they charge you. You pay the spread and swap to the liquidity provider, and the commission to the broker.
Nowadays, most true ECN/STP brokers are connected to several liquidity providers at the same time. When you want to place an order, the system automatically chooses the liquidity provider that is offering the best price, and your order will be routed to that liquidity provider. Therefore, your orders will be distributed among several liquidity providers and none of them will have any chance to know your account and go against you in case you make money. That provides the best possible service for you as a trader, and because liquidity providers compete with each other, they offer lower spread every day which is good for retail traders.
Some brokers are true ECN/STP brokers, but they increase the spread in addition to the commission they charge you. What they add to the spread is called markup. They are not allowed to do that, unless they let the clients know. However, many of them don’t inform the clients about this hidden fee and extra charge and when you ask them why the spread is too high, they answer that it is the market’s normal spread, which is a lie. So, even a true ECN/STP broker can cheat you too.
So, when you want to choose a broker, make sure it is a true ECN/STP broker first. Also ask them if they charge markups or not. You have to ask them about this and ask for proofs. In case they refused to give you a good answer, don’t open an account with them.
here is the chat with them. there is a snapshot too.
Please wait for a HotForex operator to respond.
You are now chatting with 'Sofia'
Sofia: Start the New Trading Year with an exciting schedule of FREE trading Webinars! Click HERE to register! Welcome to HotForex! My name is Sofia, how may I help you?
james: HI
Sofia: hello James
Sofia: How can I help?
james: what kind of broker you are ? ECN / STP or market maker
Sofia: we are an STP broker James
james: true stp?
Sofia: yes James
james: nice
Sofia:
james: there are many brokers out there who tell me that they are true STP
james: but i need to make sure about it!
james: so can i ask you for proof?
Sofia: we are an STP broker James
Sofia: please wait
james: okey
Sofia: thank you
Sofia: STP (Straight Through Processing) forex brokers send orders directly from clients to the liquidity providers. The more there are banks and liquidity in the system, the better the fills for the clients.
Sofia: The fact that traders have access to the true market and can execute trades immediately without dealer intervention is what makes the platform STP.
Sofia: click here
james: yes . thank you sofia
james: but
james: this is the meaning of STP
james: A true ECN/STP broker is the one that its platform is connected to at least one trusted and well-known liquidity providing organization (like Bank of America, Goldman Sachs, JP Morgan, Citi Bank, Nomura, HSBC)
Sofia:
james: so what i ask you is that , do you have any proof to show me that you are an TRUE STP BROKER SOFIA?
Sofia: ok thank you
Sofia: James please wait
james: okey
Sofia: thank you very much
james: and i am waiting ..... and waiting
Sofia: James on our website at the moment I cannot find,
james: its so important for your name and Honesty of hotforex to show me some proof
Sofia: James , I will search also for you more
james: otherwise any marketmaker out there can tell themself as an STP broker
Sofia: and advise you via email if you wish
james: can i have that email?
Sofia: I mean , can you please provide me with your email address
james: james.c.connor@gmail.com
Sofia: and as soon I find the proof you need, I will send it to you via email
Sofia: if that is ok for you
james: and one more thing
Sofia: sure
Sofia: please go ahead
james: can i publish this chat in forum? and wait for your email to update that post?
Sofia: James , you are free to act as you wish , however I will appreciate it if you have given me the chance to find this specific information you need and send it to via email
Sofia: you have asked for something very specific for which requires from side some additional search , that I am willing to do for you
Sofia: and inform you fully
james: ok , so i post it and wait for email to update my post , its importent for your repitation in forex peace army
Sofia: of course it is important as for all brokers, that this will be a meaningless action , as we have all the good intention to inform you
Sofia: please wait
james: w8 in chat room you mean?
Sofia: please wait
Sofia: since you know STP brokers use Market execution
Sofia: while Market Makers use instand execution
Sofia: if you login into our MT4 platform you can also see that we are using Market execution
james: yes , and market makers who want too show that they are stp use special algoritm to act like market execution
james: the proof is simple sofia , but it must show up from you
Sofia: as mentioned above we are an STP broker
Sofia: as you can experience this after you open an account and trade with HotForex
james: yes and i accept that with regards , so i need the proof of it
Sofia: unfortunately at the website , there is nothing posted that will confirm this as you wish to see it
james: and proof to be an STP brocker is very common so i dont need open account sofia
james: ok i wait for more from email and post our chat
james: thank you sofia
Sofia: if you wish to discus the issue on a more senior level
Sofia: we can arrange a call from with one of our experts James
james: the senior level can send expert proof in email so i can update my post about who say i am an STP brocker and realy is , and who tell it because it sounds Good
james: broker*
Sofia: ok James, HotForex is a high regulated company and you are free to act the way you wish
Sofia: we nevertheless we will contact you via email as advised
Sofia: and we also offered to arrange a call for you
Sofia: we are very sorry that you came to chat with bad intention
Sofia: we hope after you try trading with our to convinced for the contrary
Sofia: *with us
Sofia: we fully understand your worries as a trader
Sofia: however, we hope that our license and regulatory body to be enough to trust us
james: Honest broker can simply Show proofs , with best regards
source: www.fxkeys.com/the-difference-of-true-and-false-ecnstp-brokers