The “MT-ECN” account is intended for a broad spectrum of traders who seek to trade with minimal expenses. The quote precision is extended to 5 digits (to 3 digits for JPY pairs). The account is serviced on MT4 and receives quotes directly from ECN Currenex without modifications. We use our own bridge to transfer the order flow to this ECN for excellent speed and quality of order processing. There’re commissions per trade involved, depending on the trading turnover.
|Symbol||Swap Long||Swap Short||Average Spread||0.1 Lot Size|
|Symbol||Swap Long||Swap Short||1 Lot Size|
|XAUUSD||-3||-2||100 oz. tr.|
|XAGUSD||-1||-0.2||1,000 oz. tr.|
Lot – the volume unit of a traded instrument. It is equal to 100,000 units of the base currency.
Level of limit and stop orders – the minimal interval between the current price and the pending order level (in points). Inside this interval, take profit, stop loss and pending orders can't be placed. When placing orders within this range is attempted, the server will send an error message and won't accept the order. The level of limit and stop orders is equal to a typical spread.
Freezing level – a ban on changing orders that are close to fulfillment. Within this level, it’s impossible to modify, delete or close positions which are about to be executed. The freezing level value is equal to one-half of the spread of the traded instrument.
Swap – payment for transferring a position overnight (the swap value is displayed in points). Swaps can be positive and negative and are calculated as the difference between interest rates. Swaps are charged daily at 00:00 according to the server time. From Wednesday to Thursday, swaps are charged 3 times higher. The swap rate is the product of the pip price by the number of lots by the number of days.
Margin call – a warning that appears when the ratio of the equity to the margin amount in a trading account goes below the allowed level. In this case, the broker has the right (but is not obliged) to close one or several of the client’s positions according to market conditions.
Stop out – a liquidation level that appears when the ratio of the equity to the margin amount in a trading account goes below the allowed level. In this case, the broker is obliged to close one or several of the client’s positions in order to prevent a negative balance in the account.
Spreads can be viewed in a demo account. Select ECN currency pairs that have a dot at the end (e.g., EURUSD.).
*One hour before market closing, margin call and stop out levels can be raised up to 200%. Please be careful with positions that you plan to leave open over the weekend.
**Since the MT server doesn’t always count the gap level correctly when activating stop and stop loss orders during strong market movements (for example, due to a release of major economic news), news trading with stop orders isn’t supported for this account type.
***Аt 23:00, trading will be paused for 1 minute on the MT4 server for “Standard” and “MT-ECN” accounts and on the MT5 server for “Standard-MT5” accounts. At 23:00, trading will be paused for 3 minutes on the MT4 servers for “Micro” and “Account 1:1000” accounts.
From 23:00 to 00:00 trading and quotes for the metals stop. The break is linked to the pause at the exchange. There is no liquidity in this period of time.