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ECN platforms are gaining traction. Cyprus based broker FXPro is launching an ECN platform named xTrader. Among the features are a No-Dealing Desk function (NDD), guaranteed execution and no  re-quotes, interbank pricing and more.

I believe that having an ECN option is an advantage for every forex broker out there. Apart from providing more options to the clients, this model is more fair to them.

For more details, see the full press release:

FxPro Announces Launch of FxPro xTrader a Unique ECN Solution


5 April 2011, London: FxPro Financial Services Ltd (FxPro),  a leading global broker in FX today announces the launch of FxPro xTrader – a unique and easy-to-use ECN solution.


FxPro xTrader is an innovative Electronic Communication Network (ECN) platform, designed specifically for FX trading. Harnessing ECN speed, multi-bank liquidity and functionality, FxPro xTrader is a powerful and user-friendly trading platform that utilises proven technology to enable FxPro’s clients to trade at a higher level.


FxPro brings together a number of global banks as its liquidity providers and trusted software service partners to provide traders with access to an ECN with deep liquidity on more than 20 currency pairs.


Some of the key features of FxPro xTrader are:

§    No dealing desk function – FxPro xTrader does not require the operation of a dealing desk, allowing fully automated order acceptance, routing, and execution and reporting

§    No re-quotes and guaranteed execution – FxPro xTrader provides traders with guaranteed execution and no re-quotes as long as there is depth available in the market

§    Interbank pricing – FxPro xTrader brings together streaming prices from multiple global banks that, when combined, reduces spreads to interbank levels

§    Level II market depth – FxPro xTrader provides true Level II market depth. This allows traders to view in real-time both the best bid and best ask price, and the full depth on each side of the book enabling informed decision making on the size of the book

§    Anonymity – All FxPro xTrader clients trade anonymously at all times


Denis Sukhotin, Founder of FxPro commented: “FxPro has launched the xTrader to bring the benefits of a true ECN to the global FX trader. xTrader provides them with a minimum ticket size set at 40,000 of base currency, flexible leverage of up to 100 times coupled with competitive commission rates based on volumes traded. We have taken all the trading features needed by retail and institutional traders and incorporated them into a user friendly trading environment with advanced charting, single click order execution, automated risk management and real time reporting which will allow our clients to reach the next level in FX trading.”