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ECN account trading settings

Manage your trading even more effectively!

With ECN accounts — ecn.mt4, pro.ecn.mt4, pamm.ecn.mt4, pamm.pro.ecn.mt4 — you have
the ability to fine-tune your order settings to match your trading strategy.

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Order execution settings

With a total of 7 different settings available, all of which can be mixed and matched as you see fit, you have all the tools you need to carry out your strategy to its full potential.

Record slippage in the comments

The amount of slippage at the time a trade is opened and closed will be recorded in the order's "Comment" section in the MetaTrader 4 terminal.
The amount of slippage at the time a trade is opened and closed will be recorded in the order's "Comment" section in the MetaTrader 4 terminal.

When this setting is on, the amount of slippage on orders will be recorded in the "Comment" section. For pending orders, the slippage is calculated as the difference between the order price and the price at which the order is actually executed. For market orders, this is calculated as the difference between the price at the time the order was submitted to the server and the price at which the order was actually executed.

If you have an Expert Advisor that regularly uses the "Comment" section, it is better to keep this setting off.

Partial execution of limit orders

This sales limit order set to sell 100 lots is executed in parts, first selling 60, then 20, and then another 10 lots, with the remaining 10 lots awaiting activation as a pending order.
A sales limit order set to sell 100 lots is executed in parts, first selling 60, then 20, and then another 10 lots, with the remaining 10 lots awaiting activation as a pending order.

With this setting on, limit orders are effectively executed as Good-Til-Cancelled (GTC) orders. This means that the order will be executed at the specified price at the volume available on the market at that particular moment. This means that the order could be executed either partially or in full.

When partial order execution takes place, the remaining order volume is fulfilled as and when sufficient liquidity becomes available on the market at the specified price, regardless of how long it may take. Any remaining volume is fulfilled as a pending limit order, which can be cancelled manually if necessary.

When this setting is off, orders are executed as Fill-Or-Kill (FOK) orders, meaning that they're executed either immediately and in full at the specified price, or at the next available moment that there is sufficient liquidity on the market to execute the order in full.

This setting applies to Take Profit, Sell Limit, and Buy Limit orders.

Example

Market execution of limit orders

When this pending sales limit order is activated, it is sent as a market order with guaranteed execution, although it is not guaranteed to be executed at the price at which the trade was opened.
When this pending sales limit order is activated, it is sent as a market order with guaranteed execution, although it is not guaranteed to be executed at the price at which the trade was opened.

Turning this setting on means that at the moment a limit order is activated, it is executed in full as a market order at the current price, which could be higher or lower than the price indicated in the order. In employing this method of execution, slippage may not turn out in the client's favour since there is no guarantee as to what the execution price will be.

When this setting is off, limit orders will either be executed at the specified order price or at a more favourable price if sufficient supply becomes available on the market.

Cancel pending orders in the event of a price gap

A Sell Stop order with a Take Profit set up on it falls into a gap. As a result, the order is cancelled.
A Sell Stop order with a Take Profit set up on it falls into a gap. As a result, the order is cancelled.

When this setting is on, if a pending order and a Stop Loss or Take Profit (set as part of the order) are both triggered in the space of one tick, neither of these actions will be executed and the order will be cancelled.

As such, this setting helps you avoid financial losses incurred as a result of the simultaneous opening and closing of a pending order that may occur in the event of a price gap or a widening of the spread.

Example

Market execution of stop orders as limit orders with slippage restricted to N pips

When the Buy Stop purchase order is activated, a limit order is sent at a price of 5 pips higher. The order is cancelled because the execution price turned out higher.
When the Buy Stop purchase order is activated, a limit order is sent at a price of 5 pips higher. The order is cancelled because the execution price turned out higher.

When this setting is on, if a stop order is activated or a market order is opened, a pending limit order will be sent. The price of the limit order will be adjusted according to the amount of acceptable slippage in pips, which is specified by the trader in the settings (from 1 to 1,000):

  • With stop orders, the price will be adjusted to a less favourable one in relation to the price specified in the order.
  • With market orders, the price will be adjusted to a less favourable one in relation to the market price at the moment the order was sent to the server.

The potential negative slippage for market or pending stop orders will be limited to the amount by which the price was adjusted, while there is no limit on positive slippage. Moreover, a limit order that has been sent can only be executed with positive slippage. This means that if the market execution price falls within the range of acceptable slippage, the order will be executed. If the market price lies outside this range, the order will be cancelled without being executed. This allows traders to limit and control their risks, especially those associated with trading on the news.

Example

Cancel stop orders when the order price and activation price differ by N pips or more

This Sell Stop order is cancelled upon activation as the order price and activation price differ by more than the set limit.
This Sell Stop order is cancelled upon activation as the order price and activation price differ by more than the set limit.

When this setting is on, if the difference between the stop order price and the first quote that activates the order (following a price gap) is equal to or greater than the limit specified by the trader in the settings (from 1 to 1,000), the order will be cancelled.

Example

Activation of stop orders with asymmetrical slippage

The Bid price (black line) is below the order level. When this setting is on, the Sell Stop order is not activated as the Ask price (red line) doesn't meet the pending order level.
The Bid price (black line) is below the order level. When this setting is on, the Sell Stop order is not activated as the Ask price (red line) doesn't meet the pending order level.

When this setting is on, stop orders are activated and sent for execution as follows:

  • Buy Stop orders are sent for execution when the Bid price meets the order price.
  • Sell Stop orders are sent for execution when the Ask price meets the order price.
  • Stop Loss orders are activated when the Ask (for buying) or Bid (for selling) price meets the Stop Loss level.

Used for Buy Stop, Sell Stop and Stop Loss.

Example

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