Did you say "good news"?For whom?.Please read the QandA section It states "not available for retail traders"
Well there are two other major groups in this area besides Bloomberg that I know about (and I'm interested in more). Both MBTrading and Hotspot FX qualify as ECN or 'level 2 tradering' I believe. On MBTrading earlier today, I noticed 75,000 lots * 10k sitting in pending trades on the level 2 screen for one currency pair. About 10 seconds later, half of them had moved and this wasn't news time.
In checking the highs and lows against my broker data, I noticed that the ECN had obeyed support and resist lines I had forecast by 1 pip. Broker was 6 pips away. At the same time the broker had a spread of 3 pips while the ECN had a spread of 0 pips. (Low to no volume, JPY session) During GBP and USD markets the spread is usually 1 pip for EURUSD, USDJPY, GBPUSD, USDCHF, plus 4-8 minors that float up to 2 or 3 pips. When the spread is 4 pip, the panel flashes red.
I am very interested in this because I have an EA that is very profitable on ECN data (even at the higher broker spread calculations) but not very profitable on the broker chart data.
I'm in the process now of converting the EA over to run directly on the ECN.
yes, but how do you get around not being filled or being partially filled?
For example, I have manual demo traded with MBT in view to opening a live account but I find that many times I am not filled on my orders which were not even placed during news times.
You got the point.
Switch brokers, or go up to the ECN if you want to get filled. MBTrading doesn't guarantee your orders, because now you are really trading "over the counter" and need to find a buyer or seller. MBTrading has a parameter for a "buy limit" - in other words you're placing a buy, and how much *more* than market are you willing to go up in order to get your order filled. In a true OTC system, this is a necessary parameter. It is similar to slippage, but not identical.