What is currenex, how does currenex work? and how is it different from metatrader?
Currenex is not a platform, but a company providing forex transaction services using a specific platform. Where the opening of trade positions is done in a "market-following" manner, except for Limit orders. This means that a subscriber opening a position gets the best price available in the Currenex system at the time of order execution. The order execution time for a subscriber depends on the quality of the connection between the subscriber's terminal and the server, and also between the trading server and the Currenex server.
The average execution time is approximately 0.3 seconds (from the moment the order is sent to the opening of the position on the trading basis). It should be noted that Stop Loss and Take Profit orders are sent sequentially into the ECN system at the same speed for Sell and Buy orders. Therefore, after opening a position containing three orders, the execution time of the request increases because processing requires additional time.
In Currenex, the execution of subscriber requests is made according to the price requests of system participants. The best buy and sell prices in the system should be the Bid and Ask seen by the subscriber in MetaTrader. The difference between them is the spread, the size of which depends on market liquidity. The execution of large subscriber requests (usually from 10 lots) can be carried out gradually, on the issue of meeting requests, in Currenex it is smaller than the volume of the subscriber request.
If only part of the Limit order is filled, a position is opened for the subscriber at the executed volume, and there is a Limit order for the remaining volume. Partial execution of Market orders is carried out at the best price of meeting requests in the system so that the order is fully executed.
To Endang,
Currenex is a company that bridges traders with liquidity providers using a specific platform. This results in fast and secure execution. Brokers providing MT4 and MT5 usually use Currenex technology to enable trading with ECN conditions on certain accounts.
Hope this helps.