Trader Union expert Mikhail Vnuchkov InstaForex as ECN Forex Broker
The biggest investment you’ll ever make in your forex career is choosing an ECN forex broker. You’re entrusting these companies with all of your trading capital. You can increase your profits on currency trades by choosing the best ECN forex broker because they provide changeable bid-ask spreads and have low slippage rates. In this article, Trader Union expert Mikhail Vnuchkov rates the effectiveness of InstaForex as an ECN Forex Broker.
What is an ECN Forex Broker?
Several forex brokers handle client trades using ECNs. Instead of forwarding orders to market makers, ECN brokers match trades with other market participants in the forex market. As Traders Union experts explained Forex ECN brokers employ non-dealing desk trading platforms and automated straight-through processing to carry out trades.
ECN brokers increase market liquidity to narrow the bid-ask gap. This goal differs significantly from market maker brokerages, which set the bid and ask prices and serve as principal agents. ECN brokers immediately add transparency, enabling users to view the best currency quotes and make an informed trading decision.
ECN brokers allow you to compete with a large financial institutions’ pool in the market.
- EXNESS Group
- IC Markets
How do ECN Forex Brokers work?
ECN includes a digital communication mechanism for sellers and buyers to execute deals. It accomplishes this by controlling the execution of orders and disseminating the necessary information about the orders in progress. The mechanism is designed to match purchase and sell orders currently existing in the exchange. Additionally, the ECN system provides prices that reflect the lowest ask and highest bid in the open market when information about a single order is unavailable.
You can even trade while the market isn’t open for business by using ECN Forex brokers. This function benefits individuals who want to use time flexibility or cannot actively trade during regular market hours.
According to Trader Union, InstaForex is top 5 of the best ECN Forex Brokers. It is highly recommended for active and passive trading and suitable for beginners and experienced Traders.
What is InstaForex ECN Broker
Since 2007, InstaForex, an international business, has offered services in the Forex market. More than 7 million traders currently use this broker’s services globally. Three hundred trading instruments, including the PAMM Investment and ForexCopy system to mimic the trades of profitable traders, are available to InstaForex customers. According to the Securities and Investment Business Act, the British Virgin Islands Financial Services Commission (FSC) oversees the company’s operations.
InstaForex ECN broker offers top-notch trading services on the forex market. InstaForex has significant liquidity thanks to partnerships with influential market makers and brokers and a sizable customer base, allowing it to offer its customers quick online service.
Major features of InstaForex
- It has a minimum deposit of $1
- It has several trading instruments, including 300 Forex instruments, CFD, PM stocks, options, futures, and cryptocurrencies.
Pros and Cons of InstaForex
The pros are:
- It offers inexperienced traders the ideal trading conditions;
- It offers trading in a wide range of financial assets, including equities, cryptocurrencies, futures, and currency pairs;
- With its PAMM accounts and ForexCopy System of copy trading, you can make a passive income;
The Cons are:
- Users have experienced sporadic freezing of the trading terminal;
- With regard to response times, customer service is unreliable.
While working with an ECN broker, you won’t need to face any conflict of interest because you’ll only need to pay a fixed amount of fee on each trade.
Company name – Traders Union
Contact person Name – Peter Halt