After a round of investigation, I came to the following conclusion, of course, based on the information I know. I think it's very informative. Because IB sounds are everywhere (whether true or false), please be careful about some contents in my post. The company I wrote above is for analysis, and of course some of it is personal, so it is good for friends to know the key points and analysis ideas. Finally, you have to investigate and analyze it yourself. Hehe, IB (here IB refers to the agent, not the IB or IBFX company mentioned below) is really blessed. Even my post should emphasize IB. Of course, the emphasis is on IB (here IB refers to agency). Everyone should be objective and investigate by themselves.
Microfinance:
1, ECN platform: MBT is a very good choice, 100: 1 is very high, and the 400USD account opening is very low. Before MBT, it was 200W W, and later it reached 500W after raising the requirements, which was in line with NFA regulations. MBT is a member of FINRA, SIPC and NFA. You can check the MBT of CFTC, and you will know that the basic attack on ECN is either explicit attack or malicious attack. Like the Golden Post, we can see that MBT has done a good job. Like sliding 22 points (favorable direction), it is obvious that sliding points have advantages and disadvantages (7 points are unfavorable direction), which proves that MBT is ECN and is the positive information of MBT. As a result, the sliding of 22 points is so huge that it must be the problem of order speed (network and operation). Of course, the limit piece is used to prevent slipping. Why does MM seldom use limit sheets? The reason is simple: MM's quotation is not real-time, but second-hand. The usage of the restriction table on MM and ECN is different. The anti-slip sheet on MM is also a kind of limit sheet. On ECN, the limit order is necessary because the quotation is real-time. Even the light speed network can't be guaranteed, let alone manually operated. The non-slip limit piece (usually this piece) on MM is ECN. According to the regulatory information of MBT, MBT is ECN. The MBT network problem is a personal problem. Prove that some people's China network is not good. Of course, this should also be considered when using it. You can simulate it first. The speed of the firm offer should be faster and more stable than the simulation. Basically, I didn't see any negative information about MBT. If you have, you can tell me. Other forums also found no negative information about MBT. Basically, as long as there are not too many requirements for the platform, small funds can use MBT. Please note that there is a big difference between ECN and MM in the quotation. For some friends, MM's trading method has extra risks on ECN and must be changed. Of course, the effect will definitely be better after changing ECN. Why are some friends not used to ECN? Why do some friends change their trading methods? It's simple. Most importantly, the commission is not included in the spread. In fact, it is only necessary to slightly modify the price of the stop-loss point or limit order. Finally, some friends are not used to ECN platform without charts, which is more troublesome, depending on the operation of other platforms. But this can be used to improve everyone's trading level (see MT4 analysis to make a trading plan, ECN will never change the mechanical list strictly according to the plan, so it doesn't matter if there is a picture or not). About automatic trading: MBT's platform is based on OCX controls. It is no problem to develop an automated trading system that is more powerful than MT4, but there is also a chart problem. For a change, you can signal with MT4 platform and place an order with MBT platform. The platform of IB is based on JAVA, and you can try to call classes and decompile, but the JAVA platform is not optimistic, too slow and takes up too many resources.
2. MT4 platform: I think IBFX is a better MM supporting MT4. IBFX's comments are better (compared with other MMs), and the penalty of 25,000 is also recorded on IBFX's own website. The reason is not serious. The fund CFTC of IBFX announced that it was 2000W, which is not bad. Well, just think about it. For example, the parent company is registered in the NFA, but the subsidiary company is not. There is no need to argue about this. The relationship between parent company and subsidiary company is not too big. There are many related phenomena in China (although it is impossible to refer to domestic and foreign countries under strict analysis), but the relationship between parent company and subsidiary company is very clear. About the network, market, background, etc. This is a common problem of MM, but it is not serious. How to be specific can only be decided by trying. Of course, the information on the internet is a bunch of information that can only be referenced, so be careful of all kinds of advertisements.
Large sum of money:
If the capital is large and the capital is safe and fair, you can look at IB (not IBFX), which is a really big company. At present, the sinicization is incomplete, and the maximum leverage is only 50: 1, and it seems that the minimum order must reach at least 2.5 US dollars commission, IB, and the minimum account opening 1WUSD. For large funds, these are small CASE, and IB has a better price difference discount when the daily trading volume is high. Of course, IB is just one of the regular big companies. This kind of company with large capital is the only choice.
As for the agency (also called IB), it seems that the agency problem of MM is the most prominent, but as long as the deposit account number corresponds to the account name, there is no need to worry about the agency problem (it is definitely extremely dangerous for American companies to remit money to Hong Kong, and it is also extremely dangerous to remit money to personal accounts).
About ECN: prove whether a company is ECN, but you only need to grasp a few key points:
1. has placed an order, and the transaction will only develop in a favorable direction. When an order has been placed, the quoted price must be closed after passing or reaching the limit order, including the rapidly fluctuating market. Unless your order encounters a rapidly fluctuating market at the highest or lowest point, it may not be concluded (what is "fast fluctuation"? Actually, you can understand how the market works. This is the biggest weakness of MM and the most important key point.
2.ECN's quotation is much more reasonable than MM's (the reason here is that there will be no big jump in small fluctuations). You can open the platform comparison between MM and ECN. However, most ECN platforms are not as easy to use as MM, especially the MT4 platform used by some MM is powerful.
3. Strictly speaking, whether there is a market depth window does not prove whether it is ECN, but the market depth can more conveniently analyze whether there is background control, and of course it depends on your analytical ability;
Generally speaking, ECN will also do futures, stock indexes and stock trading (MM will also do it, but rarely do stock trading). ECN is more qualified than MM, besides being a member of NFA (which is necessary), it will also be a member of FINRA and SIPC (some people say that FINRA and SIPC do not supervise foreign exchange, but this is definitely better than nothing).
5. After reading several ECNs, I found that there is one thing in common, that is, there will be a few minutes of network maintenance time every day (it is not network maintenance but ECN and bank settlement), which is a common phenomenon. If there is no "network maintenance time", it is probably mm.
Conclusion: There is still a big difference between ECN and MM. Everyone should know more, demonstrate more and think more, and compare the advantages and disadvantages of the two companies. MM is a 100% bet, and you will never put the order in the bank. Generally speaking, ECN will not guarantee the safety of gambling to a great extent, at least it will not make small moves because of the interests (note: because MM has many agents, if everyone goes to ECN to open an account, the income will be less, so there are many comments on attacking ECN online, which should be analyzed objectively and carefully). ECN is a trend, but it is estimated that fake ECN will also appear, and everyone will.
Generally speaking, the conditions for becoming an NFA member are the lowest, the higher is SIPC FINRA, and the highest is NYSE, but NYSE members basically don't have to worry about the safety of funds (I haven't heard of the withdrawal of securities companies for the time being). It is extremely difficult for MM to become a member of SIPC FINRA, and it is also very difficult for ECN to become a member of NYSE. MM cannot become a member of NYSE. Note: foreign exchange deposits cannot be protected too much, even if NFA members are supervised by CFTC. It is absolutely necessary to choose a reputable company.
My evaluation seems to be biased towards ECN (note that I analyzed it based on the collected data), so if you have other opinions, please add them, and I will sort out the supplementary analysis data.
Finally, it is emphasized that after deciding which category, everyone should know about similar companies before making a choice. I just want to let you know the direction and provide some analysis ideas. You should analyze it yourself and choose according to your own specific situation. I only write one company in each category, not n, and my post is to describe the key points and analyze the ideas. In addition, I have already said, "Of course, the information on the Internet is a bunch of information that can only be referenced. Just be careful of all kinds of advertisements." Everyone should also be careful about this post (safety first, hehe). As long as you know the key points and analysis ideas, you have to investigate yourself at last.
For reference only, please learn by yourself.
I hope it helps you.
Supplement:
I'm sorry, isn't that detailed enough? Then I have nothing to say.
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Supplement 2:
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After reading a book, I finally know the difference between ECN and MM.