Limit order handling on cTrader server side
Limit order handling on cTrader server side
04 Nov 2012, 20:05
hi support; how does the cTrader server side handle the limit orders?
do they get routed to the ECN straight away? if so; how does it decide what Liquidity provider to route to?
PS: I read in a forum that MT4 server keeps limit orders in the server side; and once the market reach that level; they send Fill or Kill order to the ECN / Exchange.
Replies
scalptastic
10 Nov 2012, 01:38
RE: RE:
scalptastic said:I think in MT4 is even worse, i.e. you cant really send Limit to LP, its re-translated to markets (!!!). I.e. slippage can occur on Limits, which is rediqulous. Which is not the case with cTrader (?).hi support; how does the cTrader server side handle the limit orders?
do they get routed to the ECN straight away? if so; how does it decide what Liquidity provider to route to?
PS: I read in a forum that MT4 server keeps limit orders in the server side; and once the market reach that level; they send Fill or Kill order to the ECN / Exchange.
Had a talk with LiquidMarkets, they say Limit can be executed at a price or better. NOT worse like in mt4.
If the above is correct, I am totally cool to keep limit at cTrader level (at least no margin will be taken)
@scalptastic
admin
20 Nov 2012, 16:22
All platforms always host limit and stop orders. This includes cTrader, ECNs, aggregators, etc. They are almost never hosted with individual Bank LPs. This is due to the fact that (1) you never know what Bank LP will quote the required price first and (2) the Banks do not provide such functionality. Limits and Stops are then sent to the LP when the price is triggered. Price advantage is still probable for Limits. Also, what makes cTrader different is that (1) it is located right next to the LPs, (2) that there is no need for unnatural hops (i.e. bridges) because we operate over FIX and (3) cTrader treats resting orders as Limits and Stops respectively, not as Market Orders like some other platforms do.
@admin
GDPR-24_141216
18 Jan 2014, 18:22
RE:
admin said:
All platforms always host limit and stop orders. This includes cTrader, ECNs, aggregators, etc. They are almost never hosted with individual Bank LPs. This is due to the fact that (1) you never know what Bank LP will quote the required price first and (2) the Banks do not provide such functionality. Limits and Stops are then sent to the LP when the price is triggered. Price advantage is still probable for Limits. Also, what makes cTrader different is that (1) it is located right next to the LPs, (2) that there is no need for unnatural hops (i.e. bridges) because we operate over FIX and (3) cTrader treats resting orders as Limits and Stops respectively, not as Market Orders like some other platforms do.
I would like some clarity on the above.
Are you saying that limit orders are not sent to the ECN as limit orders, they are held on the cTrader server and sent as market orders when triggered?
If this is the case then the market depth doesn't include other trades limit orders and orders can't be placed within the spread?
Also, if this is the case then a limit order isn't really a limit order as it's operated as a market order and thus doesn't adhere to the limit order rules of fill at 'stated price or better' ?
The statement that all platforms host limit orders and don't pass them through as limit orders (if this is what you were inferring) is incorrect, there are brokers that will pass through limit orders to the ECN as limit orders, including a few MT4 brokers like MBT, FxOpen and Exness.
Spotware
20 Jan 2014, 16:17
RE: RE:
PML100 said:
admin said:
All platforms always host limit and stop orders. This includes cTrader, ECNs, aggregators, etc. They are almost never hosted with individual Bank LPs. This is due to the fact that (1) you never know what Bank LP will quote the required price first and (2) the Banks do not provide such functionality. Limits and Stops are then sent to the LP when the price is triggered. Price advantage is still probable for Limits. Also, what makes cTrader different is that (1) it is located right next to the LPs, (2) that there is no need for unnatural hops (i.e. bridges) because we operate over FIX and (3) cTrader treats resting orders as Limits and Stops respectively, not as Market Orders like some other platforms do.
I would like some clarity on the above.
Are you saying that limit orders are not sent to the ECN as limit orders, they are held on the cTrader server and sent as market orders when triggered?
We send limit orders as limit to the LP when they have been triggered.
@Spotware
SpotTrader
07 Nov 2012, 09:49
RE:
Had a talk with LiquidMarkets, they say Limit can be executed at a price or better. NOT worse like in mt4.
If the above is correct, I am totally cool to keep limit at cTrader level (at least no margin will be taken)
@SpotTrader