Lets look at and review STP Broker 6i Trade. Probably a broker you’ve never heard of, but maybe worth checking out, especially if you like “ECN” trading and need a small offshore broker who allows “flexible” and “creative” trading strategies…as per the broker’s moniker:
Trade the Way You Like
Firstly, just because its offshore, doesn’t mean un-regulated. 6i Trade are in fact regulated by the Vanuatu Financial Services Commission (VFSC). They are in fact required to report their business to the regulator and are held to account. Yes. Really.
Secondly, offshore and “in Vanuatu” doesn’t mean the team running the broker is miles away either. They operate out of Limassol in Cyprus. Therefore contactable via phone during “normal” hours.
The 6i Trade team does however specialise in the Indian and Chinese / SEA regions – mostly working with IBs. However retail customer are welcomed from anywhere of course – with the usual exceptions such as USA, Belgium etc.
The business model is described as a pure 100% ECN Regulated & Licensed Broker. Don’t expect an actual ECN pool though. This is marketing fluff. They A book all their business, as an STP broker – and provide IBs and Clients with some really great prices on spread or commission (the “ECN” account).
6i Trade welcomes Scalpers, Hedgers, Robots/EA traders with no minimum time limits on trading. See, I told you “creative” traders were welcome.
Clients can trade with No Conditions in Execution and Withdraw Initial amount or Profit anytime with No Condition in payout. You might want to jump on their Live Chat to be clear on what these mean for you.
6i Trade Account Types –
- 6i Spread Account ($0 commission, pay spread mark-up)
- 6i Commission Account (spreads from 0.4 pips – you pay a commission $per million)
- 6i “Trade The Way You Like” (define what trading conditions you want)
Different CFD Asset Classes: Forex, Metals, Cryptos, Indices, Energies.
No Minimum Deposit. Deposit by Bank Wire Transfer. China Union Pay. Master/Visa Card. eWallets: Skrill and Neteller. Divepay. Pay with Bitcoin.
No minimum withdrawal limits and guarantee profit withdrawals (cool).
As a “pure ECN broker”, it is in the interests of 6i Trade for clients to win and continue trading – as they make money on volumes. Losers are of no use! There are plenty of Market Maker options out there if you’re a loser 😛