Case Study: MetaTrader 4 to ECN: The next leap

In some markets, the technology of user interfaces and execution move forward together. In the case of the Forex market however, the evolution of the market has separated the most popular client software solution from the evolving execution process of the industry. While one side of the equation has moved forward, the other side has not been fully integrated with those leaps, until now. The MB Trading/3DForex Forex ECN integration with MetaTrader 4 (MT4) represents a key milestone in the Forex world.

First Published: e-Forex Magazine 35 / Retail Forex Client / April, 2009

MetaTrader 4 is a popular and commonly-integrated software client for traders in Forex. It offers a lot of customization, good charting, tons of indicators, and the ability to write scripted automated trading solutions with almost limitless flexibility. Robust communities of traders have popped up internationally, working together to create tools that can be used on the system. Unlike NYSE or NASDAQ or CME, Forex is not a centralized marketplace. Up until the last couple of years, Forex was traded over the phone by some of the largest banks in the world. They called each other and agreed on transaction prices while moving hundreds of millions of volume in various currencies around the globe. Long after the stock market became electronic and transparent, Forex was not. The market that traded the largest daily dollar volume of any market in the world was the least electronic, the least centralized, and with limited regulation compared to the major security and commodity exchanges.Evolving e-FX The...continued

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