Hi folks,
I heard that MBTrading are moving into an MT4 platform that offers ECN based spreads. My broker GoMarkets is presently converting 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 affect your trading?
How can you determine transparency in the market with ECN quotes?
Does anyone know of MT4 brokers other than GoMarkets and MBTrading moving into ECN?
Any comments would be much appreciated.
Concerned about the transparency of my broker as this email was sent on Friday 27th.
"In the coming days and weeks you will see changes with FX coming through the MetaTrader4 platform. The biggest change will be in the price feed. As you are aware we offer fixed pricing which does not fluctuate throughout the day. Whilst this can give transparency in the pricing it can mean clients do not always get the best prices on offer.
We are in the final stages of implementing a new ECN-style price feed coming through from a combination of 70 banks. This will mean that clients get the absolute best bid/ask prices coming from the interbank market. During liquid times spreads can get as low as 1-pip on major pairs, and if spreads widen it can be a signal to a client that the conditions for trading are not favourable. As an indication of spreads, many majors including 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 easier for us to hedge our positions. As part of this we will be able to accept ALL EXPERT ADVISORS including FAPTurbo. We will send an email to all clients 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).
www.GoMarketsaus.com are not ECN, but are ECN-styled, which I have now highlighted above.
This means that they are a retail market maker, but I have found that their spreads are normally lower than fixed spread broker buddies. Yes they do have spreads like the above, but are almost never 1-2 pips in the Asian session.
I heard that MBTrading are moving into an MT4 platform that offers ECN based spreads. My broker GoMarkets is presently converting 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 affect your trading?
How can you determine transparency in the market with ECN quotes?
Does anyone know of MT4 brokers other than GoMarkets and MBTrading moving into ECN?
Any comments would be much appreciated.
Concerned about the transparency of my broker as this email was sent on Friday 27th.
"In the coming days and weeks you will see changes with FX coming through the MetaTrader4 platform. The biggest change will be in the price feed. As you are aware we offer fixed pricing which does not fluctuate throughout the day. Whilst this can give transparency in the pricing it can mean clients do not always get the best prices on offer.
We are in the final stages of implementing a new ECN-style price feed coming through from a combination of 70 banks. This will mean that clients get the absolute best bid/ask prices coming from the interbank market. During liquid times spreads can get as low as 1-pip on major pairs, and if spreads widen it can be a signal to a client that the conditions for trading are not favourable. As an indication of spreads, many majors including 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 easier for us to hedge our positions. As part of this we will be able to accept ALL EXPERT ADVISORS including FAPTurbo. We will send an email to all clients 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).
www.GoMarketsaus.com are not ECN, but are ECN-styled, which I have now highlighted above.
This means that they are a retail market maker, but I have found that their spreads are normally lower than fixed spread broker buddies. Yes they do have spreads like the above, but are almost never 1-2 pips in the Asian session.