A employee of EFX Group (IB firm of an ECN, MB Trading) explained that MT4 is not really compatible with ECNs.
Ignored
hmmm... i wonder why?
Ok, let me add something more to my question on this thread:
Any ECN broker that has a trading platform that has a programmable interface(API)? It could be programming even in hebrew, i dont care . As long as it has an interface which a programmer can use to write a program that can execute trades as per the trader's system logic.
Ok, let me add something more to my question on this thread:
Any ECN broker that has a trading platform that has a programmable interface(API)? It could be programming even in hebrew, i dont care . As long as it has an interface which a programmer can use to write a program that can execute trades as per the trader's system logic.
Any ideas, any knowledge of such existence folks?
Many thanks.
Ignored
I might have misunderstood what they said. Maybe MT4 is just incompatible with THEIR ECN. In a reply, Justin LeBlang
said, "After careful research we have recently come to the conclusion it will not be possible for us to work with MT4. Metatrader was built for a deal desk type platform only. By offering MT4 our clients would no longer be able to receive partial fills, trade between the spread at 1/10th of pip, or have access to our ECN level ll benefits. This was something we were just not willing to sacrifice."
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Membership Revoked
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Joined Mar 2005
|4,703 Posts
if the guys at metatrader was smart they will make there platform compatible with ecn, they can corner the platform market by doing this, they or the number 1 retail plaform, why not take over the ecn market.
if the guys at metatrader was smart they will make there platform compatible with ecn, they can corner the platform market by doing this, they or the number 1 retail plaform, why not take over the ecn market.
Ignored
If you were the guys at MT, would you rather sell 20 licenses at $100,000 a piece to 20 different platforms, or sell 1 license to 1 platform because everyone would want to trade on that platform?
Joined Nov 2005
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Status: EURUSD Quant FREAK
|3,197 Posts
Actually that is the ATCbrokers MT4 Currenex that is under construction.... please correct me if I am wrong.
Fastbrokers offers Currenex behind Strategyrunner at this time. FXQL IB is behind MT4. I can't tell you how glad I am to see this.... the potential at least.
Joined Nov 2005
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Status: EURUSD Quant FREAK
|3,197 Posts
Currenex will be the ECN that sits behind MT4 (at ATC) when they complete the new technology.
FXLQ has an ECN.... they ARE the technology company (like Currenex is,) and fastbrokers is a clearing house that offers MT4 as a passthrough to the FXLQ liquidity. More succinctly, your money passes through fastbrokers (where they apply leverage and charge commission) and ultimately goes out into the REAL market at FXLQ.
So FastbrokersFX/FXLQ and ATCBrokers/Currenex must be building a in house development to allow MT4 to connect directly to ECN, as its my understanding that MT4 was designed for a 'dealing desk ' ( ie forex retail ) operation not an ECN operation.
I have read some where that ATCBrokers are developing this themselves, rather than Currenex doing the work.
Joined Nov 2005
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Status: EURUSD Quant FREAK
|3,197 Posts
Any work to modify MT4 will be done by the broker (ATC, fastbrokers.) The ECN (Currenex, FXLQ) have nothing to do with that..... they just provide an API that the clearing house must work with.
The ECNs are technology companies, whose responsibility is solely to provide liquidity to clearing houses. How the clearing house integrates with the ECN is not a concern to the ECN.
Another example:
You -> VCap futures (clearing house) -> FCStone -> FXAll (ECN)
MT4 is not a available at VCap for ECNs. The only way to TRULY gain knowledge of what is going on is to actually call the firms and ask questions. I've made lots of calls so far, and will continue to.
I do not know everything.... I am learning day by day. If you have more accurate information than I have posted, please correct me. Thanks.
