Different types of forex accounts

DD – Dealing Desk: A dealing desk broker different types of forex accounts a market maker. Market makers typically offer fixed spreads and may elect to quote above or below actual market prices at any time.

Market makers are always the counterparty of the trader, who doesn’t trade directly with the liquidity providers. With a genuine No Dealing Desk broker, there is no requoting of prices, which means that you can trade during economic announcements without any restrictions. STP – Straight Through Processing: In STP mode, transactions are fully computerised and are immediately processed on the interbank market without any broker intervention. They thereby improve market transparency by providing information to all market participants. ECN brokers usually make their money by charging a commission on the traded volume. An MTF exchange ensures that buyers and sellers of financial instruments can come together according to non-discretionary rules.

An MTF is not a regulated exchange, but it operates under the same rules. MTF rules are transparent and ensure a fair trading system. The broker guarantees price efficiency and the clearing of transactions. It also has two short horizontal bars to the left and the right of the vertical bar, which represent the opening and closing prices. The highest tip of the bar is the highest price for the period while the lowest tip of the bar is the lowest price for the period in review. The bar also has two short horizontal ticks that branch off to the left and right of the vertical bar.

The short tick to the left is the opening price, while the short tick to the right is the closing price for the period under review. 1 or click on the designated bar chart icon as shown in the picture below. Later in this article, I will discuss how you can customize the appearance of charts. Candlestick charts in Metatrader4Japanese candlestick charts, commonly known as candlestick charts, are a type of charts which were first used over two hundred of years ago in trading rice contracts in Japan. The candlesticks were believed to have been first developed by a Japanese rice trader known as Munehisa Homma in the mid 18th century. The picture below shows how a candlestick chart looks like using default MT4 settings. Candlesticks are made up of two components.

The shadow, which resembles the wick of a candle. There can be an upper or lower shadow, which is located either at the top or bottom of the body respectively. The tips of the shadow indicate the highest and lowest price points of that particular candle. The upper shadow is located above the body, and its tip represents the highest price point. The lower shadow is located below the body, and its lowest point represents the lowest price point. 2 or use the dedicated candle stick tab as shown below.