MT4 moves to ECN (2 unique brokers)

Hi folks,

I discovered that MBTrading are moving into an MT4 platform that offers ECN based spreads. My broker GoMarkets is presently switching from MT4 fixed spreads to MT4 ECN.

For those that have used ECN and fixed spreads,
What are the benefits of being ECN?
How does ECN impact your trading?
How can you determine transparency at the market with ECN quotes?
Does anyone know of MT4 brokers Aside from GoMarkets and MBTrading moving into ECN?

Any comments are appreciated.


Concerned about the transparency of my broker as this email was sent on Friday 27th.

In the coming days and weeks you will observe changes with FX coming through the MetaTrader4 platform. The biggest change will be at the price feed. As you're aware we offer fixed pricing which does not fluctuate throughout the day. Whilst this may give transparency in the pricing it may mean customers do not always receive the best prices online offer.
We're in the final stages of executing a new ECN-style price feed coming from a combination of 70 banks. This will indie that customers get the absolute best bid/ask prices coming from the interbank market. During liquid instances spreads can become as low as 1-pip on major pairs, and if spreads widen it could be a signal to a client that the conditions for trading are not favourable. As an indiion of spreads, many majors such as GBPUSD, EURUSD, EURGBP and AUDUSD can offer spreads as low as 1-2 pips, even during the Asian session.

Offering the accurate interbank market prices means it is simpler for us to hedge our positions. As part of this we will have the ability to accept ALL EXPERT ADVISORS such as FAPTurbo. We'll send an email to all customers as soon as this is fully implemented.

If you have any questions about the above please do not hesitate to contact us.

UPDATE: MT4 brokers that are ECN are ATCBrokers, and MBTrading (not yet released).
Http://www.GoMarketsaus.com are not ECN, but are ECN-styled, which I have highlighted above.
This means that they are a retail market maker, but I have discovered that their spreads are generally lower than fixed spread broker buddies. Yes they've spreads such as the aforementioned, but are almost never 1-2 pips in the Asian session.

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Your obviously new to the market, or stuck in the retail sector. . my apologies.

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Says the guy pitching an MT4 indior on a two year-old thread. MT4 is a retail platform in the event you did not understand. Company?

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Trade volumes are not reported. Displayed liquidity in an FX orderbook is an entire mirage, except for executable price places like EBS Hotspot.


Yes I am sure you have. And so you're here digging up threads from 2 years ago to pitch your lame MT4 indior. Would prefer a cart to load up each of those bull droppings?

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lol. . Hotspot is the smaller venue by the way. . While I say volumes I am discussing the places such as hotspot, currenex, reuters, ebs, integral the volumes are there for me. Obtain the data and analyze it if you understand how to. Therefore, in the event that you have the technology to fully aggregate all the global networks as I said, you are able to construct (after reduny reduction) a complete fx orderbook regardless of the market being disjointed.

Your obviously new to the market, or stuck in the retail sector. . my apologies.

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You said what?? Volumes are not reported? Lol...

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Trade volumes are not reported. Displayed liquidity within an FX orderbook is an entire mirage, except for executable price places like EBS Hotspot.

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Just use an unaffiliated feed to verify your pricing at your current broker!

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Considering lots of retail FX accounts amount to investing in a market made by your broker (who can assert'commerce the biggest market in the world'), or a white tag collection of little brokers, and every broker may or might not be messing with the order flow timing from their customers, can you reasonably expect prices from various MM brokers to be identical to the 5th decimal point at any particular moment?

Max

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You do realize that true volume isn't reported by any worldwide FX venue? I hope you didn't pay money for this particular indior. .

Also, why on earth are you quoting and responding to an article from over 2 years back?

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You ought to go for Direct Market Access... and rid yourself of over priced under performing brokers! E-forex 2010 issue... a post of Direct Market Access. . It would be great reading.

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You do realize that actual volume isn't reported by any global FX venue? I hope you did not pay money for this particular indior. .

Moreover, why on earth are you quoting and replying to an article from more than two decades back?

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You stated what?? Volumes are not reported? Lol... gosh in all my years trading 5M lots I'm always able to see the amount available in a full book. So your statement is absurd sorry. OrderBooks are merely that. . Levels of prices and the amounts.

Just as over two years back... you still read the comment directly? Sorry to burst your bubble. But ummm. I've assembled earlier, I've assembled arbitrage methods data feeds. . In 20 years... orderbooks still contain price and quantity. . Its the very premise of those.

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I have been using the indior that imports GLOBAL liquidity into an MT4 chart.

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You do understand that true volume isn't reported by any global FX venue? I hope you didn't pay money for this particular indior. .

Also, why on earth are you quoting and replying to a post from over 2 years ago?

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Hello people,

I heard that MBTrading are moving into an MT4 platform that provides ECN based spreads. My broker GoMarkets is currently converting from MT4 fixed spreads to MT4 ECN.

For the ones that have used ECN and fixed spreads,
Which are the advantages of being ECN?
How does ECN impact your trading?
How can you decide transparency at the market with ECN quotes?
[font=quot]Does anyone know of MT4 brokers besides GoMarkets...

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No need to actually use an ECN at all if you can see truly transparent pricing. Trade when your broker is aggressive. I've been using an indior that imports GLOBAL liquidity into an MT4 chart. I'm in a position to see resistance points as they build and support amounts as they withstand downward pressure.

Simply use an independent feed to verify your pricing at your current broker!

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The attached file must provide you some of the info. You're looking for - it was composed by TheRumpledOne, by his website at kreslik.com

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Yeah TRO is (or was) an IB for MB Trading.

There are far better alternatives like capitalforexpro prospreads, but yet offer MT4.

So is gomarkets of changing to ecn feed, following nearly 1 year?
Is the spread stable with time?

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arquaart, insightful and thoughtful responses concerning the two MTs. As you seem to be the only one to have really badly tested them equally, you ideas are valuable. It might seem that entire, MT5 has a very long way to go before it could be called a trully deserved successor to the MT4. I would however like to hear your ideas on Hedging-european brokers will keep MT4

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I really don't understand whether European law makers will follow suit... But because most newbies which were once trading with USA brokers and were nedgers, there might be a movement for protection in the European markets too. As poor nedgers rather than only counter tendency traders will proceed there.

I suppose it all depends upon who is pulling the strings and the reason why they are.

But if you are considering why JoeyG is asking me questions about why I believe MT5 (hereby renamed MetaSTEALERTrader 5 ) is downgrade from MT4 follow this link - https://www.cliqforex.com/trading-sy...-sterling.html

Insightful and thoughtful answers regarding the two MTs, arquaart. As you seem to be the only one to have really badly tested them equally, you ideas are valuable. It might seem that entire, MT5 has a very long way to go before it could be called a trully deserved successor to the MT4. I would like to hear your ideas on Hedging-european brokers will maintain MT4

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Hey, how's it going nowadays? Seeing MT4 it appears to be ok but seeing MT5. . .well, moving by your other thread, that appears to be a different story! Https://www.cliqforex.com/trading-sy...orrection.html Is there anything positive at all you can tell us about the MetaSTEALERTrader 5 because you call it?

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Yes longer frames (21 in total), market depth analysis (which is strange since banks do not allow other institutions to know what volume they're trading) but it's there (must go on trade number instead of volume which will become increasingly misleading the more people smaller traders become involved), and if you like single position trading it will probably be easier to manage you trades. In other words they have made managment and analysis easier at the cost of trader profitability.

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The reason I ask you is because as I told you before, ACM advised me theys about to include MT4 to their platforms. When I knew MT5 was about to come out I couldn't help but wonder why they didn't go to the shinny new and improved one? Am I correct to understand from your other thread it all has to do with all the possibilities to perform hedging?? Is that correct?

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Cannot really answer why ACM didn't, but it might be since MT5 is just being released, and every new platform has its own bugs.... The same as vista versus XP. Vista had a truck load of bugs when it first came out. MT5 might be the same. Particularly if they have attempted to make it more vista compatible.

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Can you feel that we'll NOT likely to visit European brokers add/upgrade to MT5 due to that?

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Maybe, maybe not. The EURO in 9 decades of actual use is now gone from 4th or 5th most traded currency to the 2nd most. The establishment of the EURO was so that the market would compete with all the might of the USA market. It is 2/3 of the way there in just 9 decades. If a currency is going to be popular, an increase in its own trade ability is essential, hence I couldn't imagine EURO based markets to be keen to do exactly what the US've done. It would eliminate its initial purpose.

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If true then the MT4's times may be coming to a conclusion, I would imagine that all regulatory bodies will eventually fall in line with the NFA, don't you?

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If it is correct that's the case... If it isn't then it isn't the situation...


If anyone would like to find out why I feel the MT5 (renamed as MetaSTEALERTrader 5 ) is a downgrade from MT4, follow this link https://www.cliqforex.com/trading-sy...inflation.html. You will see why Joey asked questions about MT5 in this post.

24 hours later and still no feed. I think we play in cyberspace pleasure palour.Its a shame real cash is at stake.

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To me there live feed is untradeable,its just goes to sleep every now and then,support desk says IT issues!!

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Yep, I can't even log in to my account...

So I do not know where my trades are,

Don't know where the price is on his or her platform. But they suggest you could open and close the trades via phone. However, where are the trades in relation to the price and what are my indiors telling me?

In the moment they've wiped all of my trades and just left me with my equilibrium.

Hmmmmmmmmmm

Nor do I know what my equity is etc.. .

To me there live feed is untradeable,its just goes to sleep every now and then,encourage desk says IT issues!!

Since the oriental session went on, the spreads obtained significantly worse.

The spreads recorded above, are right but I want to re-emphasis that the spreads were likely to be in the end of the over compared to the lower end.

Wait for the London and NY sessions to find out if gets any better.

And yes I watched MBTrading and ATCBrokers. MBTrading and ATCBrokers spreads were substantially better (although they do charge commission). Including $$$ commission MBTrading and ATCBrokers cost, MBTrading and ATCBrokers were still significantly better than Proceed Markets.


This is what I saw:
Max spreads I have seen- 2:25pm AEST-
EURUSD 0-6
GBPUSD 1-12
EURCHF 1-9
EURGBP 0-8
GBPJPY 3-20
USDJPY 0-8
EURJPY 1-13
AUDUSD 1-8

Oh Yeah I'm seeing Gomarkets new live spreads- It's nuts!

I've only had it on a few minutes
Max spreads I've observed - 2:25pm AEST-
EURUSD 0-8
GBPUSD 1-12
EURCHF 1-10
EURGBP 0-9
GBPJPY 1-15
USDJPY 0-8
EURJPY 1-14!

The list goes on- they are all like this and it is not like they simply go up once in a while, I have observed this in minutes a lot of the time they are sitting mid means to the greater end of these ranges above, rarely stays on considerably lower than that which they had to have mended - what a pity.

Comparatively across precisely the exact same time period MBT actual ECN demo
EURGBP max is a measly 2.3 pips
USDJPY 1.5 max!
GBPJPY max 5.0
Plus half pip spread of course- still leaves it for dust.

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ECN'Styled' whatever that means does not indie it is an ECN though.
Why would anybody trade with a broker whose spread on GBPJPY varies between 3 to 20 pips? - way too broad at 20 pips during very quiet times.
If GoMarkets don't charge a commission then they're earning from the spreads, again not an ECN model.

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This was during the asian session. I only saw 20 pip after and I was watching it just like a hawke for about one hour. It was most common for it to be 8 pip.

Any ECN with 2/4 Publish place feed is not passing on the specific information that banks / institutions are feeding them. Because banks / inst use 3/5. Hence, as I said these men must be rounding their feeds to ch between a 0 and 2 pip commission for each pair.

But, unlike other ECN styled brokers (MBTrading and ATC Brokers) they do not charge any based commission. In the long run it works out that GoMarkets are more expensive by about 2 pip per trade during the asian session.

I am waiting for the London NY sessions, to see whether prices regularly return to 1 pip as promised in prior emails.

A quote from a GoMarkets previous email
As a sign of spreads, many majors such as GBPUSD, EURUSD, EURGBP and AUDUSD can offer spreads as low as 1-2 pips, even during the Asian session.

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Go Markets currently has their ECN styled feed. It's definitely ECN styled and during todays Asian session that I could see:
the GBPJPY range from 3 pip into 20 pip. It was nearly always between 6 and 10 pip.
That the EURUSD varied from 1 pip to 6 pip, whilst I was watching it.
Since it's a 2 / 4 decimal stage price feed, it would signify that GoMarkets are rounding out their prices to capture the fractional pip differences as profits. However GoMarkets do not charge a commission.
As most ECN price packs have roughly a dollar number of approximately 1 pip...

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ECN'Styled' whatever means doesn't mean it's an ECN though.
Why would anyone trade with a broker whose disperse on GBPJPY fluctuates between 3 to 20 pips? - way too wide at 20 pips during very quiet times.
If GoMarkets do not charge a commission then they're earning from the spreads, again not an ECN model.

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Will be interesting to observe Gomarkets following the shift, I am a bit suspicious- that they do state it is an ECN Mode feed not actually ECN. Further confirming it is not actually ECN is that they do not appear to going to bill commissions....unless that is a surprise yet to come. Personally I'd rather see them remain fixed spread for trading major pairs the spread is 3 pips largely and it actually does remain fixed throughout the whole day- There is no telling how high the ECN Style feed will now fluctuate- Although they promise it is good. Will see, hope...

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Go Markets now has their ECN styled feed. It's definitely ECN styled and through todays Asian session that I could see:

the GBPJPY range from 3 pip to 20 pip. It was almost always between 6 and 10 pip.
That the EURUSD varied from 1 pip to 6 pip, whilst I was watching it.

As it is a 2 / 4 decimal stage price feed, it would mean that GoMarkets are rounding out their prices to capture the fractional pip differences as profits. However GoMarkets don't charge a commission.

As most ECN price feeds have about a dollar number of about 1 pip per round trip commission, so this usually means that GoMarkets commission would vary from 0.1 pip to 2 pip depending on the exact 3/5 digit prices they are getting quoted in the banks.

Nevertheless their ECN styled demonion platforms aren't ready yet.

Aquaart,
No Just 3 pips on the majors or major majors I had been speaking to and EURUSD was back into two pips for about a week now.
Others -
AUDUSD is 4, NZDUSD is 5, USDCAD is 6.

But in the event that you just want to trade- EURUSD, USDCHF, GBPUSD, USDJPY I feel that the fixed 2/3 pip is great.

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Will be interesting to see Gomarkets following the shift, I'm a bit suspicious- that they do say it is an ECN Style feed not really ECN. Further confirming it is not really ECN is that they don't appear to going to bill commissions....unless that is a surprise yet to come. Personally I would rather see them remain fixed spread for trading major pairs the spread is 3 pips mainly and it actually does remain fixed throughout the whole day- There is no telling how large the ECN Style feed will currently fluctuate- Although they assure it is good. Will see, expect...

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Hey Viperzz,
In GoMarkets, have you been receiving 3 pips on AUDUSD, NZDUSD, USDCAD or simply on the major majors.

Will be interesting to see Gomarkets after the shift, I am a bit suspicious- they do say it's an ECN Style feed not really ECN. Further affirming it's not really ECN is they do not seem to going to charge commissions....unless that is a surprise yet to come. Personally I'd rather see them stay fixed spread for trading major pairs the spread is 3 pips mainly and it actually does stay fixed throughout the full day- There is no telling how large the ECN Style feed will now fluctuate- Although they assure it's good. Will see, hope they are right.

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Hey,
Thanks for your answer.... . .you would obviously know of other brokers for example your own that are ECN, are you MT4 as well.

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Yes.

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The attached file should supply you some of the information. You are searching for - it had been written by TheRumpledOne, from his website at kreslik.com

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Thank you eagle4x



All of my answers that I needed are in that text file.

Me has ayudado mucho.You have helped me very much.

The attached file should supply you some of the info. You are looking for - it was composed by TheRumpledOne, from his web-site at kreslik.com
https://www.cliqforex.com/attachment...8536739260.txt

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I believe you meant to ask, how do you decide transparency at the market with dealing desk quotes? ECNs would be the epitome of market transparency.

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Simply to explain what I mean...

With fixed spreads you know the price upfront before you trade (which has not been the case in late markets). That's what I would normally mean by transparency (you know what you are getting and you get it).

With ECN's I've noticed they are authentic ECN's, that MBTrading seem to be, and they provide quite tight spreads with a commission, as well as other ECN brokers will have considerably wider spreads.

Continually wider spreads may only happen for 3 reasons,
(1) the ECN broker has very few banks (associations ) providing prices, (which can be dumb if you truly are ECN) OR
(2) the broker can also be building a disperse into their prices (marginally higher ask and lower bid prices) OR
(3) the broker is using a 2 / 4 decimal point pricing system (rather than 3/5) and rounding outwards the quotes they are being fed from the banks.

So my question might be best place, is there anyway you may be certain the middle point (2) is not occurring?

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How can you decide transparency in the market with ECN quotes?

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I think you intended to ask, how can you decide transparency in the market with dealing desk quotes? ECNs would be the epitome of market transparency.

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Speaking from a broker that currently has a true MT4 ECN, FapTurbo might not work on the system. Sorry to say. Simply since they're going to give you a variable price feed does not mean they will not continue to run risk against their customers...

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Hey ForexSean,
Thank you for your answer.... . .you would clearly know of different brokers including your own which are ECN, are you MT4 as well.

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Hi folks,

I discovered that MBTrading are moving into an MT4 platform that provides ECN based spreads. My broker GoMarkets is presently switching from MT4 fixed spreads to MT4 ECN.

For the ones that have employed ECN and fixed spreads,
Which are the advantages of becoming ECN?
How does ECN affect your trading?
How can you decide transparency at the market with ECN quotes?
[font=quot]Does anyone know of MT4 brokers other than GoMarkets...

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Talking from a broker that currently has a true MT4 ECN, FapTurbo would not work on the computer system. Sorry to say. Just since they're likely to offer you a variable price feed does not mean that they will not continue to run risk against their clients...

You could just use mt4 demo from several different sources for charting then simply trade via mb's navigator platform.