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anonymous aggregated FOREX liquidity with matching capabilities

MPA

Most traders have heard the terms ECN, DMA, and STP, as they are thrown around the industry to such a degree they have almost lost their meaning. When it comes to liquidity, at least in the FX marketplace, the vast majority of it leads back to the same handful of large FX banks. This means that for the most part all brokers share the same liquidity pool. The difference comes from the technology behind the liquidity and it’s ability to improve on the total execution quality. MPA is that difference.

How is the MPA Structured?

MPA trading gives you direct access to the Forex market where you can trade with other traders and your orders are actually displayed in the market and are seen by others, who in turn can initiate their own orders and if the prices match, a deal is complete. One main difference between other STP models and an MPA is that appart from the ‘conventional’ Liquidity Providers found on most STP feeds, including our own SPA feed, or in other words Banks, the MPA is mainly comprised of non-bank liquidity as well as all the pending orders initiated by participants inside the MPA that are aggregated to increase the available liquidity pool.

How does MPA work?

Our Multiple Point Aggregation is something of a hybrid MTF (Multilateral Trading Facility) and ECN (Electronic Communications Network). In an MTF orders are matched between participants or members across a range of venues. In an ECN orders are matched between local participants trading on the ECN as well as routed to other providers however the makeup of the ECN allows these providers the ability to sit on a price and have the ‘last look’, meaning they can hold a trade and then after the price has moved they can choose to reject it.

The MPA model allows us to take advantage of the multilateral matching that is the core benefit of a MTF as well as the multiple aggregation that gives an ECN it’s advantageous trading environment. The MPA works by aggregating pricing feeds from multiple pre-aggregated providers such as ECNs, Prime of Prime Brokers, and Top Tier Banks, and incorporating a multi-venue matching engine to match orders across multiple destinations.

MPA Model Highlights

  • Multiple Aggregation Points

  • Price filters at various levels to protect against spread spikes

  • Liquidity from other retail and institutional traders 

  • Higher level of anonymity due to 'layered' liquidity

  • Liquidity networks changing frequently

  • 100% STP feed, no dealing desk, no 'b-book'

  • Larger liquidity pools due to 'layered' liquidity

  • Possibility to trade non-FX securities (Equities/Oil/Nat Gas)

SPA or MPA

Our MPA model is made for strategies that require a higher level of anonymity due to their trading style, and a more unconventional stream of liquidity that is updated frequently to avoid being placed on 'aggressive' pricing feeds, while the SPA is tailored to clients looking for the most consistent pricing, tighter spreads, and higher tick values, as well as larger top of book availability. In other words, scalpers would be happier on our SPA feed and range and channel type strategies with larger trade sizes will most likely be more happy on our MPA feed.

If you are unsure what account is right for you feel free to contact one of our Premier Relationship Managers and ask, we are here to help.

CONDITIONS

SPA

MPA

minimum deposit

500 USD or equivalent

 500 USD or equivalent

available currency

AUD | EUR | GBP | JPY | USD

AUD | EUR | GBP | JPY | USD

MINIMUM order size

1,000 Units

1,000 Units

MAXIMUM ORDER SIZE

10 mio

Liquidity Dependent

commissions on mt4

25 mio per side

25 mio per side

COMMISSIONS ON CTRADER

30 mio per side

30 mio per side

maximum leverage*

0.25%

0.25%

margin call level

100%

100%

stop out level*

50%

50%

Hedged Margin

NO

50%

LP PRICE FILTERS

NO

SERVER LOCATION

LD4

LD4

LP LOCATIONS

LD4

LD4 | NY4 | HK2

pricing through roll over

AVG top of book liquidity

1M

100k

liquidity providers

20

20+

liquidity type

Banks & Non Bank MMs

ECNs, PoPs, & Aggregators

available pairs

70 FX & Metals

69 FX & Metals & CFD/Oil/Nat Gas

*Accounts trading on leverage higher than 1:200 (0.50%) will have their stop out level moved from 50 to 100% automatically. If you wish to trade on a 50% Stop Out you must choose 1:200 (0.50%) or less when creating your account.