What is ECN?

ECNs simply create the networks traders use to find each other without relying on the market makers to facilitate transactions. To create a revenue stream, ECNs simply levy a small surcharge—usually no higher than a few cents per share, and often much less—on each trade. Buyers and sellers connect to ECNs, through a brokerage, and enter a bid.. Since ECNs don't earn money on the spreads between buy and sell orders, they rely on the sheer volume of trading through their networks to generate revenue.

GIGFX ECNs can offer the greatest amount of liquidity to investors, allowing them to complete their order as quickly as possible. Since investors typically place a premium on liquidity, the pressure on ECNs can open and close trades with fast and efficient time.

Why GIGFX ECN?

GIGFX ECN works perfectly on the GIGFX trader4 trading Platform, client can runs (EA) expert advisers to benefit from low spreads and instant executions and you can get the opportunity of the very low spreads. GIGFX ECN has no rules to stop scalpers, Client can place limit orders with GIGFX ECN and stay few pips behind the price without actually placing market order, example client can scalp the one hour bar right from beginning and be able to profit instead getting in to the trade and don't know which direction the price is likely to go.

GIGFX ECN Advantages:

GIGFX offers Investors “commission free” trading with a primary advantage of extremely low spreads. No dealing desk, never take positions against clients, straight through processing with direct interbank access. Trader will get into the market at a better price than a trader that is entering using a market maker. Order by the trader is sent to the best bid/ask offers. Spreads usually are in range of .5 pips to 3 pips. Prices are more aggressive, scalping is ideal. Clients can take the role of an Market Maker and mediate between trades, making a profit in the differences of rates. bid/ask prices are better and more diverse than Market Maker prices.

How ECN Works?

For Limit orders:

·         Client place a buy limit order in your Mt4 account to buy 1 lot of EURUSD at 1.4495.

·         The order goes to the MT4 server which routes it to the interbank.

·         The Interbank will always confirm the order and will tell MT4: "Allow the customer to have this buy limit order."

·         MT4 will tell the client : Order confirmed: "Ok, I allow you to have this pending order."

For STP:

Instant GIGFX trader4 allows you to add a stop loss and take profit to your market order via “Instant Execution,” whereas if you place a market order in STP GIGFX trader4, those columns cannot be changed because you must use the “Market Execution” order type.

Instant GIGFX trader4 differs on the close order box. You can check “Enable Maximum deviation from quoted price.” This option also comes up when you right-click to modify your order and then change it to market execution:

Box does not have this:g When closing or modifying an existing order in Instant GIGFX trader4 at the bottom it says “Open price you set must differ from market price by at least 10 pips.” Also when you place a “Modify Order Type” the bottom reads “Stop Loss or Take Profit you set must differ from market price by at least 10 pips”:

STP GIGFX trader4 version shows “0 pips at bottom,” reflecting that you are connected to a real STP environment:

Also when you place a "Modify Order Type" the bottom reads "Stop Loss or Take Profit you set must differ from market price by at least 3 pips"

STP GIGFX trader4 version shows "0 pips at bottom again"

Instant GIGFX trader4 quotes to a pip (four decimal places on most pairs, two on JPY-based pairs), as seen in this screenshot:

Market GIGFX trader4 quotes to a tenth of a pip (five decimal places on most pairs, three on JPY-based pairs), as seen in this screenshot:

There are some adjustments that need to be made to MetaQuotes Language MSQL4 scripts (MQL4 , Expert Advisors) due to differences between Instant GIGFX trader4 and STP GIGFX trader4. These include, but are not limited to:

1. Scripts that use Instant Executions to place market orders with take profit and/or stop losses attached will not work. Instead, a market execution must be placed and then a take profit and/or stop loss added to the position.

2. Hard coding of +/- calculation of pips for profits may need to be adjusted to reflect the fifth decimal place of our STP.