True ECN Forex for Active Traders No Dealing Desk. API access for automated algorithmic level ii forex. Our platform and institutional liquidity network processes one-click trades at lightning fast speeds. Level 2 Forex provides access to over-the-counter foreign exchange contract markets.
Trading in leveraged forex or derivative contracts entails high risk as both gains and losses are amplified by the use of leverage. Traders should only participate in leveraged markets with money that he or she can afford to lose without affecting his or her standards of living. Practice Trading With a Free Metatrader 4 Demo From FXCM. Level 2 Forex Review – Is it scam or safe? Level 2 Forex is an ECN forex broker, which provides access to the eFXClould.
Trading conditions don’t vary that much for the different account types, except for the offered leverage. The company has not given enough information, regarding some aspects of its services on its website. Level 2 Forex goes not provide any information, which is relevant to its parent company, nor its registration. This would be considered a big disadvantage, had the company not been a partner of eFXClould. That being said, IBs and White Label partners are occasionally under some form of oversight. At this point, we have to treat Level 2 Forex as an unregulated company.
As we keep reiterating in all of our reviews, financial regulation should one of the key things to look for, when looking at a forex broker. Financial regulatory agencies are government institutions, which create and enforce certain rules on companies, offering financial services. Lets take a look at some of the rulings, applied by the UK’s FCA, one of the most reputable watchdogs. Furthermore, at the time of writing of this review, the account opening page on Level 2 Forex’s website was under maintenance. This may be a temporary technical issues, or the company waiting to receive a license before accepting new clients.
Of course, this should only be a consideration for less experienced traders, who are willing to see what real money trading feels like, after months of demo trading. There is no shame in opening a small account, especially if you don’t have enough risk capital, but more experienced traders know a serious trading plan requires serious funding. Trading costs at Level 2 Forex are a bit tricky to calculate. 8 pips in the most liquid time of the day. 04 per 1000 units of currency, per side.