MetaTrader 4 is world’s preferred Forex trading platform. According to our estimates more than 70% of all brokers offer this platform, while more than 90% of the total retail Forex volume is executed through it, because all large brokers offer MetaTrader 4.
MetaTrader 4 (MT4) is the latest version of the popular platform. MetaTrader 4 is highly successful because it offers an easy to use user interface, various charts and indicators and most importantly the MQL language which allows to easily both program indicators and also program what is known as Expert Advisors (EAs) – automated trading strategies which trade the Forex market 24/7 without any user intervention. EAs are considered the main growth engine behind MT4’s success and retail Forex’s market growth in volumes.
Unfortunately MT4 wasn’t designed to be used by ECN brokers and until now it wasn’t possible to connect it to the interbank market (ECN bridge). After several years and millions of dollars invested in development FXOpen was the first broker ever to introduce a
true MT4 ECN trading platform. Coupled with PAMM accounts and 10,000 USD (0.1 lot) minimal volume execution it is truly the world’s leading MT4 ECN platform. By being connected to the largest retail Forex liquidity pool available with dozens of leading banks and liquidity providers offering their Bids and Asks FXOpen’s MT4 ECN is creating a highly liquid and competitive marketplace like no other.
|FXOpen ECN Marketplace||FXOpen Market Maker||Details|
|Client Anonymity||Yes||No||When an order is sent to the ECN there is no Account data passed long.|
|Order Matching||Yes||No||ECN mathes your orders with other clients, banks and any other ECN participants.|
|Re-Quotes||No||Yes||ECNs do not have re-quotes, a market order will receive the best price available.|
|Depth of Market Display||Yes||No||ECNs allow the client to view the market depth.|
|Pending Order Limitations||No||Yes||ECNs allow limit orders to be placed within the spread limitations that Market Maker does not allow. (This comprises the market depth)|
|Trading Economic Releases||Dependent on Participants||Yes||Although you may receive re-quotes during economic data when FXOpen is acting as the Market Maker, ECN relies on its participants to fill its book, illiquidity can occur during releases.|
|Volume Available at Requested Price||No||Yes||ECNs will have various available vilume, at different prices, in its market depth; As a Market Maker, FXOpen, will almost always fill orders at requested prices contingent that he market is still trading at that price.|