ECN and Commission? Is it worth it? - Page 2
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Thread: ECN and Commission? Is it worth it?

  1. #11
    Quote Originally Posted by ;
    quote Item is, hardly any men and women know what ECN excactly is. ECN stands for Digital Communiion Network. What it implies is that if you put an order, it will be visible in the orderbook. LMAX for example is a true ECN Network: image If you enter an order to the Network, it will be visible on LMAX Homepage. You can try this through quite times, enter an order of for example 2 lots at a certain Price, and it will be immetiately visible. Afterward, other Traders can send a market order from the Limit order. That's what ECN is.
    Hi Trader121,

    Just a question if you please. Those order dimensions, are they 100K or millions, ie lineup is 60m at that price?

    Regards,
    K.

  2. #12
    Depends on the market requirement. A fixed disperse market manufacturer using a 4 pip spread on major pairs may be cheaper than an ECN once the spread is spiking and extending and to make matter worse, the trader has to accommodate for the commission.

  3. #13
    Quote Originally Posted by ;
    quote hi Trader121, Just a question if you please. Those order dimensions, are they in countless or 100K, ie top line is 60m at the price? Best wishes, K.
    1 unit in this chart is 10k, which suggests 10'000 notional. That implies:

    1 = 10'000 notional = 1 $ per pip = 0.1 Components in Metatrader
    10 = 100'000 notional = 10$ per pip = 1 Unit at Metatrader
    100 = 1'000'000 notional = 100$ per pip = 10 Components in Metatrader
    1000 = 10'000'000 notional = 1000$ per pip = 100 Units in Metatrader

  4. #14
    Quote Originally Posted by ;
    quote 1 unit inside this chart is 10k, which suggests 10'000 notional. This means: 1 = 10'000 notional = 1 per pip = 0.1 Components in Metatrader 10 = 100'000 notional = 10$ per pip = 1 Unit at Metatrader 100 = 1'000'000 notional = 100$ per pip = 10 Components in Metatrader 1000 = 10'000'000 notional = 1000$ per pip = 100 Units in Metatrader
    Thanks for clarifying that. Basically, bid is 0.6m and ask is 1.3m. Not really that fantastic liquidity should you look at the following bid is nearly 0.3pips away with 4.9m. Then again, could have been the market conditions at the time.

    Regards,
    K.

  5. #15
    All I know is that the ECN brokers have quite low spread so that the profit earning is really quicker in comparison to other broker types which has more spreads such as the market makers.

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