Along with the well-known MetaTrader 4, the UK broker Hantec Markets Limited offers a Currenex-based forex platform called Hantec Prime. Currenex is an online forex trading platform that focuses on connecting buy and sell side forex traders via electronic currency network (ECN). It requires downloading a small file that launches the Currenex platform afterwards. It is java-based and that typically implies a higher load on the computer’s resources.
Following the installation and logging into the platform, the default workspace is loaded. It is divided into two windows that can be resized. The instruments are displayed as cubes in the upper one (Market). It consists of one tab but new ones can be added if necessary. There are 10 cubes of instruments initially and customers can add as many new ones as they need. Each cube shows symbol name, bid and ask (offer) prices, quantity of orders (Level II), Create an Order button and an arrow that opens a dropdown menu with additional properties. Bid and Offer buttons show a Price Ladder consisting of pre-configured values above and below the current market rate. Click on the arrow button enables customers to set the price increment. This ladder is used for fast placing the pending orders.
The easiest way for placing a market order is to type the desired quantity in the box of the instrument cube and press the buy or sell button. The first click makes the button in yellow color. While it is yellow, the deal can be done at the displayed price by a second click on it. The open position appears in the Margin Position tab of the lower window. Clicking on a Level II button that shows the total quantity of the liquidity providers opens a new position with the shown Level II quantity. Alternatively, the Create an Order button opens the corresponding window where the order properties can be set. There is a button that hides advanced options so that orders can be placed more easily.
The lower window displays tabs for tracking orders, positions and account information. Pending orders in the ESP orders tab can be cancelled by right-clicking and choosing Cancel.
There is a menu bar at the top of the workspace containing dropdown menus Session, Reports, Setup and Help. Below this bar is the chart button. When the desired instrument is chosen, its chart is opened in a new tab, next to the market tab. Charts can also be opened in a new window by right-clicking on the cube and choosing the appropriate option from the menu. If there are more than one tabs added, customers can split them horizontally or vertically. A menu bar with chart properties is located at the top of the window. View menu provides zoom options, Drawings menu shows all graphical objects (lines and Fibonacci retracement). Indicators are presented in two groups depending on whether they are shown on the chart or below it. There are 5 preset time-frames – from 1 minute to 1 day. Charts display both bid and ask prices.
The platform is suitable for traders who are used to work with Level II quotes but for beginners it may seem somehow complicated.