Opening an ECN MT5 Account places traders at an advantage from the get go as they can benefit from No Dealing Desk (NDD) technology, one-click trading and numerous other perks which enrich the ECN trading experience.
ECN stands for Electronic Communication Network and it is very popular among traders due to the fact that it directly connects them to liquidity providers, automatically eliminating the role of the middleman. Traders can see the best bid and ask prices around for themselves and be certain that the broker is not at all involved in any dealing desk action against them.
The MetaTrader 5 or MT5 is the sophisticated and advanced platform which followed in the forex market after the MetaTrader4, and is packed with extra features which offer traders more market depth and additional tools to trade with.
ForexTime (FXTM) has created an array of ECN account types for traders to choose from, one of which is our exclusive ECN MT5 account. You can trade 34 currency pairs and 2 precious metals (gold and silver) on the ECN MT5, using key advanced features such as Level II Data, trading signals and over 79 analytical tools.
Level II Data essentially means that traders have more market depth when making their trading decisions, with the opportunity of viewing even the highest bid and lowest ask obtainable from the market makers involved in a specific security. Furthermore, traders can benefit from using trading signals, which give them the ability to connect to a signals provider of their choice and copy their trades.
The account is available in EUR, GBP and USD.
|Account Currency||USD / EUR / GBP / NGN 1|
|Leverage / Margin req.||Floating from 1:500 - 1:255|
|Minimum deposit||$/€/£ 500, ₦20,0001|
|Commission||$2 per lot17|
|Order execution||Market Execution|
|Limit & Stop Levels||X|
|Pricing||5 decimals for FX (3 on JPY pairs), 2 decimals for Spot Metals|
|Trading Instruments||Majors, Minors, Exotics9 — 34, Spot Metals — 2|
|Micro Lot (0.01)||V|
|Mini Lot (0.1)||V|
|Standard Lot (1)||V|
|Maximum Volume per Trade||100|
|Maximum Number of Orders||Unlimited|
1 NGN accounts are only available to clients in Nigeria.
2 Please note that on MT5 ECN the commission is charged separately for opening and closing of the position, so the round-turn commission equals $4 per lot.
5Leverage is offered based on your knowledge and experience. The Leverage / Margin requirements may be subject to change as a result of applicable regulations in your country of residence. For residents of Poland, the maximum leverage is 1:100.
8 Spread may increase depending on market conditions.
9 Exotic pairs are not available for swap-free accounts.
17 Please note that commission is charged separately for opening and closing a position on an ECN and MT5 ECN account, so commission equals $4 per lot.