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Electronic Communication Network (ECN)
Electronic Communication Network (ECN) trading is a market network of +15 major banks’ liquidity providers, ECN brokers, corporations and traders.
The IKON ECN platforms support advanced order execution algorithms which enable unparalleled trading speed with a breakdown of available volumes, in order to ensure the invaluable full view of market depth.
IKON’s trading platforms enabled by the ECN technology offers its professional traders functionality with fully integrated Straight through Processing (STP), to assist them with a wide range of advanced solutions of Forex trading online.
Through the IKON ECN technology you will get following benefits and advantages for trading Forex online:
IKON FOREX ECN ADVANTAGES
1. IKON ECN set-up will allow traders to maintain the Non-Dealing-Desk (NDD) status while enabling the traders to operate in both ECN and Straight through Processing (STP) networks.
2. The brokers will be able to increase their competitive edge as well as provide their Clients with more options for Forex trading.
3. ECN offers advanced order execution algorithms which enable unparalleled trading speed.
4. ECN solutions with fixed commissions are also available.
5. With IKON platforms, you will be able to do charting and technical analysis, follow fundamental reports, and enjoy the first ever market depth on Spot Bullion.
6. Client to bank trading: The IKON ECN model allows clients to trade on the global liquidity of world-class banks and qualified financial institutions.
7. IKON’s Forex ECN enhances our communications network and services as well as our functionality and worldwide transactions in the Forex Market.
8. Comprehensive business development and support.
9. IKON’s platforms provide our traders numerous trading technologies including charts, technical indicators, line studies.
10. A live FIX gateway connecting buy and sell-sides.
11. Instant sub-second trade capture/execution with no re-quote
12. IKON ECN Platforms allow traders to access and trade more than 55 ECN currency pairs in the Forex market 24/7.
13. IKON’s ECN trading platforms allow delicate traders to execute orders with a single click. Once trade size is predefined, the trader can execute an order at the touch of a button, never missing a high activity time, such as breaking news.
IKON ECN Facilities and Features
Automatic Dealing Desk
The IKON ECN trading platform allows fully automated order acceptance, routing, and execution and reporting without the human interaction. No re-quote Trading & Market Depth with IKON ECN, it has various market depths available, therefore traders of IKON ECN platform have guaranteed execution with no re-quote. Moreover, the market depth also support IKON ECN platform for trading in real-time, and enhance decision making on the size of the book.
Leverage – flexible leverage tailored to clients' needs
Flexible leverage from 1:1 to 1:300 allows traders to execute different strategies using several leverage limits tailored to each clients’ trading profile.
Risk control – negative balance protection
IKON offers margin monitoring for traders in real-time and offers a negative balance protection so traders know that they may not lose more than their risk capital.
Advanced functionality – watch the market, trade from your desktop
IKON brings enhanced functionality with chart detachment and placement of the desired currency pair chart on your desktop allowing single click execution. Traders can view detailed historical charts in multiple time brackets on their platform and use any or multiple technical analysis tools and indicators prior, during and post ECN trading.
Order types – professional orders for professional traders
With IKON ECN platform traders can place market orders that will be executed at the prevailing market price and the depth available. Traders can also place limit orders specifying entry and exit prices as well as take profit and stop loss levels.
As our client, you are given the option to place the following orders for execution:
A request to open or close a Buy or Sell position, at the current available market price. Your request will remain live until executed. IKON ECN platform will automatically aggregate all available liquidity at the best possible prices available and fill at VWAP (Volume-Weighted Average Price).
A limit order is an order to buy or sell an instrument at a specific price. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. Once triggered there is a 5 second time limit during which our ECN platform will attempt to fill your order at your requested price or better. Any unfilled volume remaining after this time will be shown as a new pending limit order at the same original requested price.
A stop order is an order to buy or sell a security once the price reaches a specified level. A Buy Stop order is entered at a price that is always above the current market price. A Sell Stop order is always placed below the current market price. Once triggered there is a 3 second time limit during which our ECN platform will attempt to fill your order at your requested price. Any volume remaining after this time will be filled at the market price.
Stop Loss/Take Profit
These are attached to an already open order to close a position at a specified market price. A Stop Loss may be used to minimize losses whereas a Take Profit may be used to secure profits.
ECN Trading Times
ECN Forex trading through IKON ECN platform is available 24 hours a day, 5 days a week allowing traders access during all market opening hours. Our multilingual Customer Support team is available during all these hours.