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Thread: Spreadbet True ECN

  1. #1
    Hi

    I am looking for a broker to trade FX that provides spreadbet with a True ECN. I am able to utilize the tax advantages of spreadbetting in the united kingdom. I've got accounts with Interactive Brokers (IB) LMAX. Both are true ECN (although LMAX term is a multilateral trading centre) but spreadbetting is not offered. What I mean by this is there's a genuine order publiion which it is possible to place orders and they aren't dealer based brokers plus a commission is enforced each trade. I also have an account with IG who offer spread bet but this is a dealer based quote system. I therefore cannot place orders to the market or publiion. The implementation on IB LMAX is exceptional but not spreadbetting.

    Are there some brokers that offer an actual ECN at a spread bet format or does this not exist?

    Additionally note I know there are a lot of brokers out there who label themselves 'true ECN' or 'NDD'. My perception is that this is not the same things, they are dealer based brokers who are using an ECN to price their dealer quotes. So you can't enter bids or offer orders to the market.

    Thanks in advance

    advance Happy New Year

  2. #2
    Anybody? Guess folks are still in xmas slumber.

  3. #3
    I understand intertrader passes your spreadbets on the underlying market. They say they're NDD ECN spread betting brokers.

    The indirect passing of this spread gaming to the Actual market makes it ECN while allowing it keep the gaming tax exempt status

  4. #4
    Quote Originally Posted by ;
    I know intertrader moves your spreadbets on the underlying market. They state they are NDD ECN spread gambling brokers. The indirect departure of the spread betting into the real market makes it ECN while allowing it maintain the gambling tax exempt status
    Their site says they operate a no dealing desk coverage that is not the same as operating an ECN. I can only buy their sell or offer their own bid. I am looking for a ECN spreadbet broker where I could place limit orders directly into the market nevertheless I know this might not exist.

    Looks like I shall continue to have to use IG and pay the 1 to 2 pip variable dealer spread.

  5. #5
    Take a Look in Atom8. I really don't know how the metatrader bridge operates but the JForex appliion they are licensing from Dukas uses actual limit orders as much I know.

  6. #6
    Quote Originally Posted by ;
    quote Their site claims that they operate a no dealing desk policy which is not the same as operating an ECN. I can simply buy their sell or offer their own bid. I am looking for a genuine ECN spreadbet broker where I could put limit orders directly into the market however I know this may not exist. Looks like I shall continue to need to use IG and cover the 1 to 2 pip variable trader spread.
    The indirect character of spread betting, the fact your orders aren't directly placed on the markets and how you do not use lots, but #per pip is the thing that makes spread betting tax exemt.
    Im unsure you are ECN spread betting exists. Apologies, I actually posted a comprehensive explanation yesterday addressing it but it wasn't approved for some reason.

  7. #7
    Quote Originally Posted by ;
    .... Are there some brokers that offer an actual ECN in a spread bet arrangement or does this not exist? ....
    Does not exist.
    There is sufficient stuff on the world wide web to clarify.

    Perhaps the sticks to objectives may be ProSpreads - http://prospreads.com/ #8594; The Play button is movie demoning placing order inside spread.

    Note: Not FCA regulated so no deposit compensation via FSCS

    Also note that the site hasn't been upgraded in some years.

    Used to be owned by LCG which offered some sort of https://en.wikipedia.org/wiki/Linus_van_Pelt security blanket. LCG sold several years back.

    See this thread for past talks http://www.trade2win.com/boards/spre...ds-com-94.htmltm.

    The ribbon died when LCG sold.

    May be of interest: FCA Regulated Brokers - https://forexintuitive.com/discussio...news-***. Html
    ---------------------------------------------------------------------------------------------------------------------------------------------------
    ProSpreads is a trading name of Argon Financial Limited; a company registered in Gibraltar (company no. 91368). Registered address at 2/3b Horse Barrack Lane, Gibraltar. Argon Financial Limited is licensed from the http://www.gibraltar.gov.gi/internet-gaming and regulated by the Gibraltar Gambling Commissioner (Gaming Keyboards No.70) and authorised and regulated by the http://www.fsc.gi/fsc/home.htm.

  8. #8
    Prospreads is probably the only one but they have not offered Position for approximately a year now. They have been saying it's going to return but it's been ongoing for sometime now.

    They offer the CME futures if that's any help.

  9. #9
    Thank guys for all your ideas. Will have a look at atom8 as well as the expert spreads alternative although I dont want to exchange the currency future just the spot.

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