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Delta Trading 6 Review: Deltastock's New Generation ECN Platform

Although it'd be safe to say that most of you know what ECN is, here's a quick clarification on the meaning of this acronym for the handful who don't. ECN stands for Electronic Communication Network and is a term used to describe a system which eliminates the role of a third party and allows brokers and individual traders to interact and trade directly between themselves. Fair and square, no middlemen involved. In later years, a number of brokerage houses worldwide released fake ECN accounts to attract more clients but Deltastock is certainly not one of them. Let's examine the characteristics of this broker's latest product, its proprietary platform Delta Trading 6, and how it measures up to the undisputed leader in forex trading software – Metatrader 4.

The first thing one notices when they install Delta Trading 6 is that the interface has gone a long way. Compared to Deltastock L2 which came out last year and very much resembled an Excel file, colored by a 5-year-old, this new software is a thousand times better. The new interface is balanced and easy on the eye, relying mostly on the use of the neutral light blue. With Delta Trading 6, finding your way around the platform also presents a lot less of a challenge than with the previous version.
How Do You Open or Close a Deal?
Your New Order window is very similar to the one in MT4 – click twice on a currency rate, buy or sell and choose quantity. Limit Orders are possible as well, meaning that you can open buy or sell positions which will be executed at a specified price or better. You can also set a minimum which, if surpassed by the market, will activate a previously placed order – these are called Stop Orders and are particularly suitable for users who are unable to monitor their trades for a certain time period. The above two key features, with very slight variations, can be found in MT4 as well. What places Delta Trading a step ahead of it's competitor, though, is the OCO, or One Cancels Other, order type. What this means is that you can open two positions in opposing directions, up and down, and when the market reaches one of them, the other one shuts down automatically. It's a great way to hedge your bets, something that MT4 does not allow users to do.
Level 2
And while we're at it, here's the really important characteristic that MT4 lacks and Delta Trading has every right to use as a legitimate bait for future clients – a service which grants you real-time access to the quotes of each individual market-maker within the network, or otherwise known as Level 2. You get to observe every trade as it's taking place right in front of you. Needless to say, this means greater awareness of market depth at any given moment, more liquid environment and therefore better odds for you to make a profitable trade. Deltastock functions as a liquidity provider itself together with the company's five other partners – FXCM, IB, Citibank, Dukascopy Bank SA and LMAX Exchange. 
How Well Equipped Are You to Analyze the Market?
Very well equipped, if you know how to use all these analysis tools that is. Not only do you get all the basic technical analysis indicatord – RSI, MACD, Ballinger Bands, Parabolic Sar, Moving Averages, Stockastic – but Delta Trading is brimming with a bunch of other lines, grids and various geometric shapes traders can place on the market graph and presumably make educated guesses about future market behavior. The only problem here is that the average trader has virtually no idea how to put these tools into use. MT4's creators have thought about the existence of such a flaw in their users contingent and that's why they're a lot less generous with instruments of the kind.
Another issue that's come to our attention is the difficulty of moving back and forth in time on charts. With MT4, this can be done in a matter of seconds by scrolling. Delta Trading, on the other hand, requires you to go through a series of buttons, making the process slower and in fact a bit irritating. 
On the upside, though, Delta Trading gives you three distinct ways of scaling, or viewing charts: the default one, in logarithmic or in square root form. Simply put, the normal chart shows you movement in quotation, the log one – in percentage, and square root is somewhat of a combination of the two. MT4 gives you no such choice as charts can only be seen in one universal way.
Trading Made Easy 
Delta Trading allows you to deposit or withdraw assets directly through the platform which is one rare feature (payments are normally carried out through brokers' websites). If you are not able to keep a close eye on the platform for a while, you can also enter Logical Mode. This means that you set up a sequence of orders where each one is a prerequisite for the next one. When the first order is executed, Delta Trading automatically moves on to the second one and so on. 
Users can separate trading instruments in categories as well – forex, indices, shares – and even create a watchlist with the ones they're particularly interested in. Now, these last three features are not present in MT4.
Here are some equally important ones, though, that exist in both platforms: one-click trading for those who prefer speedy operation; text message, email or sound alerts; economic calendar which records currency changes over time; currency converter etc.
Delta Trading 6 in a Nutshell
Delta Trading 6 appears to be quite an accessible, intuitive and yet comprehensive platform that is easily an equal to MT4. Even though it doesn't offer any revolutionary features, it is equipped with all the tools you need to be a successful trader. 
Being an ECN platform, Delta Trading 6 offers lightning-fast execution and this, together with the one-click dealing functionality, makes it an excellent choice for scalpers and new traders – which is not to say that traders using different strategies can't benefit greatly from a platform so fast and flexible. 
At the end of the day, we give Delta Trading 6 our thumbs up.
TAGS: delta trading 6  platform  deltastock  level 2  mt4  metatrader 4 

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