cTrader now offers 3 types of Depth of Market
Spotware Systems have announced the release of an innovative new Depth of Market for their popular STP trading platform, cTrader,
Spotware Systems have announced the release of an innovative new Depth of Market for their popular STP trading platform, cTrader, which now has 3 different types of DoM: a Standard DoM, VWAP DoM, and Price DoM.
The Price DoM offers the most in depth view of the market, showing a list of pip by pip prices up or down from the current spot price. Users can enter limit orders and stop orders by clicking on the price lines, and can also continue to manage their trading from within the DoM, with options to cancel and close orders and positions.
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Brian Martin, Vice Presedent EMEA at cTrader says, “Price DoM gives traders a close-up view of market liquidity. It’s an excellent tool for traders who need to see details of short-term price action, and those who need to open and close orders quickly, such as scalpers or those who trade news events.”
With cTrader’s VWAP DoM, traders can set a volume amount on each price line, and the platform will update to show tick by tick VWAP prices for each executable volume. Using cTrader’s ‘QuickTrade’ feature, users can then click once or twice on each line to quickly enter a market order.
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Speaking on the advantages of the Mr. Martin, said “The VWAP DoM offers a number of advantages to traders. For those who are following a strategy in which different volume amounts are frequently traded, they can set up these volumes as new trading buttons – letting them enter the market with a single click at their usual volumes when the VWAP price is favorable. It’s great for those who trade large ticket sizes as well, as they’ll be able to see the exact VWAP price for the volumes they want to execute.”
cTrader also recently received a revamp of the Standard DoM, which simply displays prices and their liquidity coming in from liquidity providers. The standard DoM now features a graphical representation of available liquidity on each price line.
“Traders will find this extremely useful to see, at a glance, the total available liquidity for a currency or commodity pair, as well the liquidity available for each price relative to another,” says Martin. “Users can reap huge benefits out of this new DoM release. Our new update also includes a Close All button which will let traders close all open positions sequentially with a single click.”
Watch a video on cTrader’s Depth of Market features.
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Great new addition to cTrader.
VWAP dom is like on Currenex and Hotspot. Its useful for traders who trade more size than what is usually displayed on the best bid/offer.
I have never seen a convincing price-ladder in FX. Most try to mimic the TT ladder from futures trading, but in my opinion its not useful in a decimalized market like FX.
DOM in Forex is a lie traders love to buy.
please elaborate
Since Forex does not have a centralized exchange (it’s OTC), there are numerous places where you can buy or sell currencies. However, market depth only in one place you trade (usually, your direct liquidity provider) does not in any way reflect the same in all other places. You cannot simply buy all the available volume you see to move the price, as you could do on an exchange. All the volumes you can see in your liquidity provider’s own market depth, can tell you nothing about what’s going to happen next on the “real” Forex market, because real Forex market… Read more »
yes this is true in a way – DOM is a relative term in the fx market, however the bigger the broker you trade with the more ‘accurate’ the DOM, however since there’s no single representation of the whole market – no DOM is 100% accurate, just relative
In my opinion depth information in FX is only useful to check if and at what price/impact a trade can be done, and i would consider that indicative too, on most platforms. But U.S. equity markets, for example, are way more messy than FX spot. Almost as fragmented as fx, and then stuff like brokerdealer internalization, sub-pennying, quote-stuffinhg, flash-orders, questionable trade-busting procedures on most exchanges, and what have you. A total cluster-fk in my opinion. And not very resilient either, as the flash-crash proved. A good example how an un-/self-regulated market like fx is superior in many ways to a… Read more »
Fair point – but at least in those cases, the brokerage side came later. The comparison to those firms was in connection to their end to end offerings, of the broker in the box model.
Fair point – but at least in those cases, the brokerage side came later. The comparison to those firms was in connection to their end to end offerings, of the broker in the box model.
Do they have an MT4 connector ?