The Benefits of MT4
FXCM has upgraded its MT4 platform to integrate seamlessly with our No Dealing Desk forex execution. This means no 3rd party bridges and no auto account syncs. We now offer more features to enhance your MetaTrader 4 trading experience.
New FXCM MetaTrader 4 Features:
- Set SL/TP Pre-Execution - Set Stop Loss and Take Profit orders while opening a new trade
- 0.01 (Micro) Lots - Trade more precise lot sizes for tighter risk management
- Partially Close Positions - Control when and how much of a position you want to close
Plus Continued Features of FXCM No Dealing Desk Forex Execution:
- Anonymous forex trading since price providers do not see your SL, TP or Pending orders
- No Trading Conflict of interest between broker and client
- Place pending orders even inside the spread
What are the features of using MetaTrader 4 with FXCM?
|No trade restrictions with NDD Execution1||No restrictions on placing SL, TP or Pending Orders|
|Scalping permitted with NDD Execution||Partial closing allowed|
|All strategies permitted with NDD Execution||Trade 0.01 Lots|
|Default Lot Size||0.01 Micro Lots|
Learn more about the FXCM MetaTrader 4 platform's execution policies, settings, and features.
Additional Notes on FXCM’s MT4
- The maximum number of open orders is capped at 500 individual orders per account. This restriction includes both open orders and pending orders. The MT4 platform will display an error message if traders attempt to open more than 500 individual orders. Stop Losses and Take Profits are exempt from this restriction.
- MT4 is only able to execute one order per price update per symbol per account. For example, if an account has two stop orders on the same rate and the market only trades at or beyond that stop level one time, only one of the stop orders will execute. The second stop will not be triggered unless there is a secondary price update at or beyond that stop level.
- The margin call policy for FXCM MetaTrader 4 accounts is different from all other FXCM accounts. When a margin call occurs, trades will be closed one by one until "Free Margin" is greater than zero.
- Interest rates are not displayed on the MetaTrader 4 Platform; however, traders will pay or accrue interest in accordance with the current FXCM rates.
- Expert Advisor's (EA) are automated trading tools that can perform all or part of a trading strategy. FXCM does not vouch for the accuracy or reliability provided by the EAs not in its control. Traders utilizing an EA do so at their own risk. Additionally, many EA's employ the use of micro lots and do not account for fractional pip pricing. On the FXCM MetaTrader 4 platform the smallest lot size increment is 1k and fractional pips are used. Prior to trading, please contact your EA provider to discuss the lot sizes used in the program and any potential issues that may arise from fractional pip pricing.
- The maximum deviation feature was designed to control slippage. Please note: dependent upon market conditions, a lower maximum deviation amount can increase the likelihood that an order will be rejected due to the market price moving outside of the maximum deviation.
- You cannot use a pending order to close a trade or a portion of it. Pending orders can only be used to open new trades.
- There may be exceptions to the typical transaction, such as delays due to abnormal order processing or malfunctions with internal or external processes. In such cases, FXCM notifies clients as quickly as possible, depending on the complexity of the issue.
MT4: Accounts on the MetaTrader 4 platform have maximum account equity restrictions. Contact FXCM for details.
MT4 Order Sizes: FXCM MetaTrader 4 allows for order sizes up to 50 million per trade. Traders have the ability to trade incremental sizes (multiple orders of 50 million for the same pair).
The MT4 platform does not allow FXCM to include commissions in pre-trade margin calculations on client's pending orders. This means that if you place a trade with a small amount of available usable margin under the MT4 account, there is a risk that the execution of the orders could trigger immediate margin call right after the execution as the commission charges can result in insufficient margin to maintain your open positions. You should therefore ensure that you have reserved sufficient buffer usable margin before opening new trades.
Clients who trade notional volume with an average of 500K per month for the previous 3 months will have the cost of VPS service reimbursed. At the beginning of the month (between 1st and 15th), a fee of 30 base currency (3k JPY, 240 HKD) will be debited from any of your FXCM account(s) to cover the VPS cost.
MT4 FXCM Independency: Forex Capital Markets Limited ("FXCM LTD") is an independent legal entity and is not affiliated with MetaQuotes Software Corp. ("MT4"). MT4 is not owned, controlled, or operated by FXCM LTD. Therefore, FXCM LTD does not make any warranties regarding any MT4 product or service and has not reviewed or verified any performance results that may be presented and/or described on this website in relation to MT4.
MT4 Quote Throttling: The potential exists for variations in pricing displayed between servers. These differences do not have an impact on prices available for execution but can impact the prices used to trigger resting orders. Please note that MT4 has an inherent limitation on maximum numbers of quotes processing within a short period of time (i.e. per second). During volatile market situation, there is a risk of potential latency of price quote which may result in delays in order execution.
Execution Disclaimer: FXCM aggregates bid and ask prices from a pool of liquidity providers and is the final counterparty when trading forex on FXCM's dealing desk and No Dealing Desk (NDD) execution models. With NDD, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. In addition to the spread, the trading cost with NDD is a fixed lot-based commission at the open and close of the trade. While generally NDD accounts offer spreads with no markups, in some circumstances, FXCM may add a markup to NDD spreads. This may occur due to, but not limited to, account type, such as accounts opened through a referring agent. With dealing desk execution, FXCM can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer. FXCM’s dealing desk has fewer liquidity providers than NDD. There are many other factors to consider when choosing an execution model (such as conflict of interest, trading style or strategy). See Execution Risks. Note: Contractual relationships with liquidity providers are consolidated through the FXCM Group, which, in turn, provides technology and pricing to the group affiliate entities.