Every trade has two parts that decide its real cost: the price on offer and how the order is filled. Enso Markets runs ECN-style pricing on MetaTrader 5, with spreads from 0.0 pips across 1,500+ CFDs, and the same liquidity and execution stack serves its retail clients and its B2B partners. This guide explains where prices come from, what happens between the click and the fill, and what traders and partner firms can check for themselves.
Where the prices come from
On an ECN-style account the quote is built from prices streamed by the liquidity side, not set by a dealing desk. When several sources quote the same instrument, the best bid and the best ask form the spread you see on the chart. On major forex pairs in active hours that spread can reach 0.0 pips, and the broker’s charge is shown separately instead of being added to the price.
From click to fill
| Step | What happens | What you see in MT5 |
|---|---|---|
| 1. Order sent | MT5 sends the order with the price on your screen | The order ticket closes and the trade is pending confirmation |
| 2. Matched to liquidity | The order is filled at the best available price at that moment | A position appears in the Trade tab |
| 3. Confirmed | The fill price and time are recorded on the server | The fill price shows in the History tab |
Market orders fill at the best price available when they reach the server. If the market moves in between, the fill can be better or worse than the screen price. This is slippage, and on a market-priced account it runs in both directions.
What changes the quality of a fill
| Condition | Effect on spreads and fills | Practical step |
|---|---|---|
| High-impact news (CPI, payrolls, rate decisions) | Spreads widen and prices jump between ticks | Check the calendar, reduce size or wait for the first minutes to pass |
| Daily rollover | Liquidity is thin for a short window | Avoid opening large positions around the rollover |
| Weekend and holiday gaps | The market can open away from Friday’s close | Stop orders fill at the first available price after a gap |
| Large order size | A big order may use more than one price level | Split size or use limit orders |
Order types that control your price
A limit order fills only at your price or better, so it removes negative slippage at the cost of possibly not filling. A stop order becomes a market order when its level is touched, which is why stops can slip in a fast market. MetaTrader 5 supports market, limit, stop and stop-limit orders on every Enso Markets account.
Liquidity and execution for prop firms, IBs and institutions
Enso Markets’ main business is B2B: brokerage infrastructure for proprietary trading firms, introducing brokers and institutional partners, covering MetaTrader 5 hosting, liquidity access, account administration, FIX API and white-label set-ups. A prop firm can run evaluations and funded accounts on hosted MT5 servers with liquidity already connected, and firms with their own systems can route orders through FIX API. Configurations are agreed individually; start on the partnership page or write to marketing@ensomarket.com.
Frequently asked questions
Does Enso Markets use a dealing desk?
Enso Markets prices its ECN account from liquidity-side quotes, with spreads from 0.0 pips and the account charge shown separately. Details are on the Account types page.
What is slippage?
The difference between the price you requested and the price you were filled at. It happens when the market moves before the order is executed, and it can be positive or negative.
How can I limit slippage?
Use limit orders where the entry price matters, avoid opening trades in the seconds around major releases, and size positions to the liquidity of the instrument.
Is FIX API available?
Yes, for institutional partners and algorithmic systems that need direct order routing. Contact the partnerships team at marketing@ensomarket.com.
Figures as of 14 October 2026. Leveraged trading involves risk and may not be suitable for all investors.