FXTM ECN MT5

FXTM ECN MT5

FXTM ECN MT5 - ECN Trading On MT4's Successor

FXTM is a regulated broker offering trading on both MetaTrader 4 (MT4) and it successor MetaTrader 5 (MT5). MT5 has similar functionality to MT4 in that it lets the trader execute their own trades and use online trading robots called Expert Advisors (EAs) to trade on their behalf, executing automated trading strategies encoded as algorithms. MT5 has a number of enhancements, including more graphical objects and time frames, a different language for programming EAs, inbuilt technical indicators and order execution types, an embedded chat to connect with other traders and an Economic Calendar. An Economic Calendar can be an important tool for all traders, as it shows what economic data is being released when. The release of economic data can have an effect on the market and is a key part of news trading. However all traders may wish to be aware of upcoming releases as these may affect their trade.

ECN trading

FXTM has a range of account types, some of which are ECN accounts. The ECN accounts offer MT5 (and MT4). ECN stands for Electronic Communication Network and is an automated process where the broker matches orders with liquidity providers, using Straight Through Processing (STP). The broker may charge a fee called a commission charge. However spreads especially for Forex can be relatively low in ECN trading. FXTM charges a commission charge which is fixed at $2 per standard lot per side for MT5. $2 per lot is charged at opening and $2 per lot is charged at close

ECN account types

FXTM offers three ECN trading accounts. These are the ECN Account, the ECN Zero Account and the FXTM Pro Account. Both the ECN Account and the FXTM ECN Pro account charge commissions, the ECN Zero Account does not charge commissions. The lowest spreads are offered on the ECN Account and the FXTM Pro Account. Spreads on the ECN Account are from 0.1 plus commission. Spreads on the FXTM ECN Pro account are from 0, without a commission charge. Spreads on the ECN Zero Account are from 1.5, without a commission charge.

ECN minimum deposit

The minimum deposit for the ECN Zero Account is $/€/£200. The minimum deposit for the ECN Account is $/€/£500. The minimum balance required for the FXTM ECN Pro account is $/€/£25,000.

MT5 markets to trade

All account offer 33 Forex pairs and Spot Silver and Gold (XAG/USD and XAU/USD).

FXTM ECN MT5

FXTM offers ECN trading on MT5, allowing the trader to make use of this platform's added features (compared with MT4) and like MT4 to build and run online trading robots called Expert Advisors. Thus the trader can trade a core group of market executing their own trades, letting robots trade on their behalf or build their own robots. MT5 has a wide support community which the trader can connect with, allowing the trader to download EAs and technical indicators. The trader can trade on an ECN account without a commission charge, or if they wish may trade on an ECN account with a commission charge and very low spreads for the most liquid Forex pairs. If they can maintain an account balance of $25,000 the trader can use the FXTM Pro account which has the lowest spreads and does not charge commissions. Since FXTM offers other account types, including a Cent account which offers a very low minimum deposit of $10 and lets the trader trade with low account sizes, the trader can scale their trading at FXTM from Cent right up to Pro. However MT5 is only available on the ECN accounts. Once the trader has opened an account with FXTM, they can add additional account types.

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