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Cory2679

MB Trading/ECN Forex Brokers

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Our requirement was frequent micro-scalping, literally maybe a 50 or a hundred open micro-positions, and then LIFO closing of these positions. This facilitates cost basis averaging, etc. Depending upon how quickly, or how accurately, you need to place your orders their executions may or may not be good enough. Put pressure on them to make their implementation better. There is no excuse for 10-20 second execution times, etc. Using their API, we get executions 500 msecs round trip end to end. This is not fast by some standards, but the consistency makes it a great trading environment.

 

As to whether they are a real ECN, they are now calling themselves an EXN. To me, trading with precision scalping, it sure feels exactly like a real ECN. And they offer Credits for adding liquidity on their ECN.

 

One thing interesting about their EUR/USD at least, where I have direct experience. What I would call "retail liquidity" (using marketable orders, and paying commission) the liquity and execution times are very fast. However, what I call "wholesale liquidity" where you rest on their ECN and compete with Market Maker, it is rare that somebody comes along and hits your resting order, so that liquidity is quite low. If you are Buying, and move your order into the Upper Half of the spread, you can get it resting, and get hit (thus making the Credit). The danger is that you hit a counterparty, and then you pay commission. But their commissions (when you have to pay them) are only 2.95 per $100k base currency per side, so maybe 0.8 ticks is lost in commission. That's great pricing !

 

HyperScalper

 

Thank you for the reply, never heard of EXN before whatever that is,

I assuming their EXN is only retail clients,

maybe I will be checking them out a bit, I suppose you didn't precision scalp with Metatrader?

did you use their internal platform or something else?

I like the pricing to, thats one of the reasons I like to check them up again.

execution is extreamly important for My EA which run on a time based entry mode,

thats one of the areas I was hoping they improved upon.

are you with MBT UK or US?

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Thank you for the reply, never heard of EXN before whatever that is,

I assuming their EXN is only retail clients,

maybe I will be checking them out a bit, I suppose you didn't precision scalp with Metatrader?

did you use their internal platform or something else?

I like the pricing to, thats one of the reasons I like to check them up again.

execution is extreamly important for My EA which run on a time based entry mode,

thats one of the areas I was hoping they improved upon.

are you with MBT UK or US?

 

I'm a U.S. client. Well, you can read why they are using the term EXN. I think it's because of certain NFA rules. Anyway, I use their "Pay for Limits" program, which gives approx. 0.5 ticks CREDIT, round trip, per trade (1.95 per $100k base currency); but only if you are "resting" on their ECN and are "hit" by a counterparty. By doing that, you have "added liquidity" and get the credit. The Counterparty is paying 2.95 per $100k base currency commission or "routing fee" per side, instead of me. (Most of the time.)

 

The offer a "commission free" program, but where the commission is built into the spread. They give clients a choice which one they'd rather use. In the "Pay for Limits" program, you have to "earn" your Credit, by placing resting orders on their ECN accurately.

 

No, I don't use their platform, except as a backup. My custom software is HyperScalper, and it is extremely customized for this type of scalping. We can place orders relative to several precise reference prices: Simple Bid/Ask, MidPoint, Significant Bid/Ask, and set an offset in Tenths of a Pip from that reference so that we "land" in the Bid/Ask spread just where we want to be, so we can get "hit" and claim the credit for most trades. I almost never use marketable orders, because of the approx. 0.8 tick commission.

 

I can adjust my live order in Tenths of a tick so I am just under the Ask to Buy, and most likely to get "hit" to claim the credit, which offsets the slightly higher price I am bidding. No point in bidding down near the Bid, where it is unlikely to get filled.

 

Of course, this is manual discretionary trading, but there are some features for semi-automatic mode. It isn't an EA, and not designed to run unattended, but caters to a wide range of trading styles including nibbling, which is micro-scalping.

 

Hope this helps !! Good Trading ! HyperScalper

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I'm a U.S. client. Well, you can read why they are using the term EXN. I think it's because of certain NFA rules. Anyway, I use their "Pay for Limits" program, which gives approx. 0.5 ticks CREDIT, round trip, per trade (1.95 per $100k base currency); but only if you are "resting" on their ECN and are "hit" by a counterparty. By doing that, you have "added liquidity" and get the credit. The Counterparty is paying 2.95 per $100k base currency commission or "routing fee" per side, instead of me. (Most of the time.)

 

The offer a "commission free" program, but where the commission is built into the spread. They give clients a choice which one they'd rather use. In the "Pay for Limits" program, you have to "earn" your Credit, by placing resting orders on their ECN accurately.

 

No, I don't use their platform, except as a backup. My custom software is HyperScalper, and it is extremely customized for this type of scalping. We can place orders relative to several precise reference prices: Simple Bid/Ask, MidPoint, Significant Bid/Ask, and set an offset in Tenths of a Pip from that reference so that we "land" in the Bid/Ask spread just where we want to be, so we can get "hit" and claim the credit for most trades. I almost never use marketable orders, because of the approx. 0.8 tick commission.

 

I can adjust my live order in Tenths of a tick so I am just under the Ask to Buy, and most likely to get "hit" to claim the credit, which offsets the slightly higher price I am bidding. No point in bidding down near the Bid, where it is unlikely to get filled.

 

Of course, this is manual discretionary trading, but there are some features for semi-automatic mode. It isn't an EA, and not designed to run unattended, but caters to a wide range of trading styles including nibbling, which is micro-scalping.

 

Hope this helps !! Good Trading ! HyperScalper

 

Sounds interesting thanks:)

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The online trading forex tutorial helps in presenting a foundation to investors or traders who are new or do not have much experience with the foreign currency markets. These tutorials cover the basics of exchange rates, the market’s history and the key concepts you need to understand in order to be able to participate in this market. Most such tutorials also venture into how to start trading foreign currencies and the different types of strategies that can be employed.

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