Gandalf The FX review of:
Advertisment for Nord FX on their own website.

NordFX says:
"MT-ECN (Currenex)
Best spreads, instant execution, unlimited access to interbank liquidity - get all this in MT4 platform connected with our

own bridge with advanced Currenex technologies."

Advice from Gandalf The FX:
     The advertisement found here is contradicting. They are claiming they are an ECN broker (Market Execution), but then they state in the advertisement that they provide 'Instant Execution.' You can NOT offer an ECN feed and have instant execution. A dealing desk broker is the only way to have instant executions because they are able to take the risk themselves and directly place trades on the prices they make up. An ECN broker must go through banks to get there prices and spreads and therefore can not have instant execution. Again, the required execution type for ECN/STP brokers is 'Market Execution'. 

Gandalf The Fx