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When you’re trading in the high risk foreign exchange market you will only want the best trading platform that is available to you. So this is the next article in the series of trading platforms. This platform is run by a brokerage in the United States and is ECN or Electronics Communication Network. Since they are in the United States that means they are regulated by the United States government when it comes to the foreign exchange market.
Several advantages of the platform:
The advantages of the platform are that there is a pay for limit on their account holders. All their accounts are commission free for their clients. This is always useful for the foreign exchange traders whether you are a tried and true trader or just beginning in your trading. Commission free trading is great because that means there are no added fees for any of your trades that you perform on the foreign exchange market. They are also reported to have tight spreads in the market with as low as .1 PIP. This is really good news for traders who want a very small limit on their pips.
The platform is great for large traders who live in the United States or Europe. The stop limits are always useful in trading in order to avoid losses that you otherwise would not expect to occur in the foreign exchange market. That with the commission free trading and tight spreads will most definitely get noticed only a few brokers or platforms offer that particular benefit to their traders.
Downfalls to the platform:
You will not be able to hedge as a strategy using this platform. It is just not supported at all in the platform. So if you like to use hedging and be strategic then this platform is not for you, and you should look for another platform. A platform that does allow hedging would be better for you if you prefer that method of trading. This platform and broker MB Trading only work with United States and European citizens. They do not work with a whole list of other countries. On the other hand there are platforms that do not work with the United States citizens either so someone has to draw the line somewhere.
It is a really good platform for those traders in the countries that it does work with including the United States. No commission trades are what a lot of new brokers will look for so they are bound to get a lot of new traders and some older traders because of it. The only downfall is that they do not allow hedging so if you are a trader who likes that strategy you should look elsewhere for a different platform. They have stop limits which are always good for trading in order to avoid losses that occur if you are not careful with your trades and limits. So if you do not use hedging and you live in the United States or Europe then you will do well with this platform and broker.