Once Click Trading Level2 Plugin - Reliable?

I'm fairly new to trading (on and off for 3 months) and am really just getting comfortable with MT4.

My broker offers a "one click trading Level2 plugin" EA for trading ECN through them that allows a quick way to enter trades and monitor "depth of market". (See picture)

It this feature reliable / desireable / trustworthy to use? I've heard rumours that it does nothing more than allow the broker to easily see your TP / SL settings. It also seems to be pretty taxing on my computer as the processor demand shoots up when I have half a dozen charts open with the plug in running.

Any thoughts would be appreciated.

pgg

well first I wouldn't worry about your SL & TP, it's not for that at all and unless you are with a dodgy broker they won't give a damn where they are.

You have to wonder why they offer you a plugin when MT has a built in depth of market feature that they could use. They answer is simple the volumes they are showing you must be coming from a different source to their price feed....

I can tell you now that the volumes shown in your picture are extremely low so the source probably does not represent the market very well.

There is no single volume place for FX and the best source of such info is actually the L2 data of futures.

So in this case I doubt it is going to make you anymore or less profitable...

regards

hi,
who is your broker?

Hmm, looks like FXOpen.