They mention some important points.
Firstly, to integrate MT4 into their ECN, they use the MT4 Manager API to match order behaviour. MBT have access to the Manager API, that bridges the execution, essentially they pull the execution away from the back end of Metatrader and route orders to their ECN using the specific functionality that comes out of the Manager API.
Secondly, MB Trading say they definitely turn off the deal-desk parameters that desks use behind the scenes. This of course, has to be, and is a prerequisite before any broker can have the nerve to call themselves an ECN. Some of you may have heard of the MT4 Broker Virtual Deal Plug-In. Actually it should be called the “The software developed by Metaquotes to allow their customers (i.e. brokers), to scam unsuspecting traders.” Now, no broker will admit to using this, because it’s a software which allows brokers to really screw you over if they so wish. This is just one example of ways in which a non-ECN broker can mess with traders’ orders. Do MB Trading use this? I sincerely hope not. No broker will ever admit to using it, (at least, I am not aware of such a case!).
Make or Break Decision: Finding the Liquidity Provider Thats Best for YouGo to article >>
What I like about these MB Trading videos is that they show screenshots of what their backend looks like. You’ll notice for example, how they can control limit / stop levels. They have it set to zero. This is how easy it is for brokers to change how close a trader can enter a pending order to current price. There are many other parameters and settings they show you. I think it’s important for all traders to have an idea of how brokers can flick things in an instant.
Continuing further, MB Trading go through in some detail, the difference between themselves and other brokers, concerning order types, including, Market Orders, Limit Orders, Stop Orders, trades with both Stop Losses and Take Profits, etc…
This openness from MB Trading is actually a breath of fresh air. An example of this is, when they mentioned that they also have an MT4 ECN DEMO – I was waiting for the speaker to say something like, “yeah, and our demo is EXACTLY the same as our live environment”, (since this is what your typical broker will claim). But he clearly specified that it’s not the same, and that you really should try a live account with a small amount of money to get a feel for the ECN environment. I’m glad this was explained for once. Too many new traders fall for the trap that demo is exactly the same as live, so they make some profits in demo, and then get smashed in live.
Overall, these 3 Youtube videos from MBT make interesting viewing. They actually go through a lot of the functionality on the server side of MT4, and it’s a real eye-opener.