Real work on MT5 NDD

Olegs Kucerenko  

Good afternoon.

I would like to ask the opinion of a trader, who trades on the NDD (Non Dealing Desk, Exchange-Market Execution).

http://ru.fibogroup.eu/forex/mt5rules.html

A market order:

The market order will be executed at the best market price of the liquidity providers at the moment the order reaches the ECN Integral system. Therefore, there may be a slippage between the price you see in the terminal and the price of execution. And the slippage can be in your favour. Due to the huge liquidity in the ECN network, slippage under normal conditions is either non-existent or negligible. In conditions of low liquidity or explosive volatility, slippage tends to be higher than in a quiet market.

In particular I am interested in the "slippage" moment. It is not set, the price is not set. Theoretically speaking, the price is at 1.3000, after sending the Buy they open at 1.3050, say.

This is not good at all. How are things in reality?

Правила торговли и исполнения ордеров МТ 5 NDD
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Технология, реализованная РЅР° счетах типа MT 5 NDD, позволит вам торговать напрямую СЃ РєСЂСѓРїРЅРµР№С€РёРјРё поставщиками ликвидности (такими как, например, Bank of America, HSBC, Citi, UBS, Barclays, Deutsche Bank) РѕРґРЅРѕР№ РёР·...
Sergey Gritsay  
Karlson:
I don´t trade on this kind of account and I´m only interested in how things work on real account.

In MT5, in the trade request there is the following field

ENUM_ORDER_TYPE_FILLING

Identifier

Description

ORDER_FILLING_FOK

A trade can only be executed in the volume specified and at a price equal to or better than that specified in the order. If there is not enough supply on the market at the moment for the order symbol then the order will not be filled. This filling type is used in the SYMBOL_TRADE_EXECUTION_INSTANT orSYMBOL_TRADE_EXECUTION_REQUESTexecution mode .

ORDER_FILLING_IOC

Agreement to trade on the maximum volume available in the market within the volume specified in the order and at a price equal to or better than that specified in the order. In this case no additional orders will be placed for the missing volume. This filling type can be available only in the execution modes SYMBOL_TRADE_EXECUTION_MARKET andSYMBOL_TRADE_EXECUTION_EXCHANGE depending on the settings on the trade server.

ORDER_FILLING_RETURN

Agreement to trade on the maximum volume available in the market within the volume specified in the order and at a price equal to or better than that specified in the order. In this case an additional order will be placed for the missing volume at the price specified in this order. This filling type is used only for pending orders (TRADE_ACTION_PENDING).

So it is up to you to decide how to execute this trade.

Andrei01  

Karlson:

In particular I'm interested in the "slippage" moment. It is not defined, the price is not defined. Theoretically, the price is at 1.3000 and after you send your BUY order you open it at 1.3050, say.

That's no good. What is the reality?

You have to believe not words but deeds. (c) Just check the quotes and the timing of their execution. The probability that a quote will jump 50 pips on one tick and that it will happen at the moment of your order execution is very low.

Well, if different quotes passed during the order execution and the order is not executed by one of them, we will see how dishonest brokerage companies are.

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sergey1294:

In the MT5 trade request there is the following field

ENUM_ORDER_TYPE_FILLING

It has nothing to do with it. Do not confuse different concepts. The execution price does not depend on the type of filling in any way

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Andrei01:

Well, if different quotes passed during the order execution and the order was not executed for one of them, it shows the bad faith of brokerage companies.

If there is no real price on the market, the ECN network will reply that there is no price (PRICE_OFF). There will be no fill and the order will be cancelled.

If the brokerage company tries to control the situation, it is even possible that the order is executed according to a pro-quoted price and not according to Market. In this case the order may be executed according to the specified execution type (FOK/IOC)

If there is no reply from the brokerage company about the order for a long time, it means that the brokerage company has lost its connection with the ECN network. We should slap their programmers.

Sergey Gritsay  
sergeev:

This is irrelevant. Don't confuse the different concepts. The price of execution does not depend on the type of casting

Strange, I thought it did, but everyone makes mistakes.
Olegs Kucerenko  
I just don't want to lose on deposit fees, 500$ minimum, 0.1 min lot... Even if I open with a trend ))))
Andrei01  
sergeev:

1. If there is no real price on the market, the ECN will answer that there is no price (PRICE_OFF).

2. If there is no response from the brokerage company on the order for a long time, it means that the brokerage company has lost connection to the ECN network. We have to give a hand to their programmers.

1. What is your probability that there will be no price on the ECN which is connected to banks and other liquidity providers? Maybe, the price will not be exact, but the nearest one will be always with some points difference. On average, half of the time the price should be better than the given one.

2. Maybe there are not fools sitting in the ECN that cannot provide duplication of communication.

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Andrei01:

1. What do you think is the probability that there will be no price on the ECN to which banks and other liquidity providers are connected? Maybe there will not be that particular price but there will always be the closest one with at most a few pips difference. On average, half of the time the price should be better than the given one.

2. Maybe the DCs are not fools who cannot provide redundant communication.

What's your "smart" message then, like a rogue brokerage company? First, understand how the market works, to make such claims.
Andrei01  
sergeev:
Well then what is your "deep thought" message like unscrupulous ECN?
The unfairness is that the brokerage company pretends to be an ECN but does not have the typical execution of an ECN.