Disliked{quote} I can guarantee that FXOpen AU doesn't use such a plugin. We don't clear any trades within the Metatrader system. MT4 is just a front end to our proprietary ECN network.Ignored
Forex is a losers game.
MT4 Brokers' Virtual Dealer Plug-In 723 replies
Virtual Dealing Desk Plugin: Metaquotes Presentation PDF 3 replies
IKON GM fined for using Virtual Dealer Plugin 12 replies
Virtual Dealer Plugin - How many seconds does your broker take to execute your trade? 20 replies
Dealer Desk Vs Non Dealer Desk 9 replies
DislikedI think everyone in this thread is completely missing the point as to why VDP was really introduced for brokers in the first place. VDP was not introduced to rip off clients as the fear mongers of the world would have you believe, it was introduced to stop predatory traders from ripping off brokers. Huh..???? this makes no sense right...? Think about it. What does a B book broker do differently to an A book broker? B book brokers ‘automatically’ execute trades at the MT4 server without first confirming the trade in underlying market, this leaves...Ignored
Disliked{quote} We have quite a few including Hotspot FXi, Integral, Currenex, LMAX, London Capital Group, Renesource Capital, Gain Capital, Alpari, other brokers, LPs and other FXOpen AU and NZ clients.Ignored
Disliked{quote} 100% agree! Happy to know at least someone know what he's talking about. The VDP is not a bad thing for Traders, if I were a Broker, I would use it as well. The only traders which have to fear the VDP are the traders that send toxic order flow.Ignored
DislikedI think everyone in this thread is completely missing the point as to why VDP was really introduced for brokers in the first place. VDP was not introduced to rip off clients as the fear mongers of the world would have you believe, it was introduced to stop predatory traders from ripping off brokers. Huh..???? this makes no sense right...? Think about it. What does a B book broker do differently to an A book broker? B book brokers ‘automatically’ execute trades at the MT4 server without first confirming the trade in underlying market, this leaves...Ignored
DislikedI think everyone in this thread is completely missing the point as to why VDP was really introduced for brokers in the first place. VDP was not introduced to rip off clients as the fear mongers of the world would have you believe, it was introduced to stop predatory traders from ripping off brokers. Huh..???? this makes no sense right...? Think about it. What does a B book broker do differently to an A book broker? B book brokers ‘automatically’ execute trades at the MT4 server without first confirming the trade in underlying market, this leaves...Ignored
Disliked{quote} Hi FXOjafar, Thanks for sharing that amalgamation of technology providers and brokers with us. Can you please explain: a) How you aggregate the aggregators? b) Is it simple or advanced aggregation? c) What happens if I place an order for 5 million EURUSD and LMAX is at the top of book and they only have 500k showing, will I sweep your book or LMAXs? d) Do the LPs pricing you in Integral, HotSpot, Currenex and all the other venues you’ve mentioned like the fact that they’re being aggregated several times over?Ignored
Disliked{quote} Are you saying that despite these sneaky features (as listed in the attachment) offered in VDPs to brokers, no brokers would bother to use any of them against traders? And why were these two brokers fined by the NFA for using the VDP? Forex.com/Gain IKON GM BY the way, VDP does not refer only to Metaquotes VDP or Tools4Brokers VDP, but including any brokers' own apps to act like a virtual dealer. Brokers and Traders alike could actually come together to develop a fair trading...Ignored
Disliked{quote} a) We connect them into our ECN via FIX. b) Can you clarify a bit more what exactly you want to know? c) Your order would be executed via VWAP from best price to worst depending on the available liquidity. d) A double hit is possible since LPs can be doubled due to also being connected through other networks and to our ECN. However there is still the possibility of being filled via the LP's B-Book. If it is A-Book, it would likely be rejected. LPs hate double hits, but that is their headache to sort out. It is in their best interests...Ignored
Disliked{quote} Hi FXOjafar,
b) advanced vs simple aggregation, questions
c) below should provide some more clarity on what Im getting at
c) if the order is executed via VWAP will the 5M go down LMAX's pipe or would i be split up amongst said amalgamation of other aggregators?
d) more on the "double Hit" later...Ignored
Disliked{quote} b) Ok then, we are advanced. c) There are too many factors to give a simple yes and no answer. If it was a market order, and say for example, LMAX offered to fill 500K, the rest of the order would be filled fully or partially at the next best price, then fully or partially at the next best price.......Ignored
Disliked{quote} as per my post above I said some brokers may abuse the plugin and try to rip off/disadvantage clients, however, this is not the case across all brokers. Again, the role of VDP is to simulate live market execution and automate the role of a dealer, this is actually improving the execution for the client. Think about this.... if you are broker XYZ, is it faster and better for the client to a) have a human deal desk manually confirm your trade b) have a plugin or algo automatically execute the trade based in predefined set of variables the...Ignored
Disliked{quote} as per my post above I said some brokers may abuse the plugin and try to rip off/disadvantage clients, however, this is not the case across all brokers. Again, the role of VDP is to simulate live market execution and automate the role of a dealer, this is actually improving the execution for the client. Think about this.... if you are broker XYZ, is it faster and better for the client to a) have a human deal desk manually confirm your trade b) have a plugin or algo automatically execute the trade based in predefined set of variables the...Ignored
Disliked{quote} Yes, perhaps, not every broker plays with such dirty tricks to rip off traders. Whatever you say, however, in reality, the experience encountered by myself and many other Alpari UK's clients are just the opposite - slower and worse fills, higher spreads etc. even during non-peek and non-news period. If it occurs only occasionally or even about half the time on average, I won't mind and I'd rule out any intentional platform manipulation by this broker, in particular. In my case all these started only after I made >80% of Win trades consecutively...Ignored
Disliked{quote} Let's be realistic. A broker looks at a customer in terms of much revenue he will get from that account. A broker will try to maximize commissions from your account or/and acquire the entire account. Any strategy thats fits this business model that is within the law -or almost (: - is fair game.Ignored
Disliked{quote} hahaha my thoughts exactly! Eurscalper which broker do you use? got experience with institutional type brokers?Ignored
Disliked{quote} I don't spruik about my broker like others in the forum do. I just put my account up so you can check it in my profile. im not leaving it up for long as all these clowns start contacting you asking for tips. note: the balance is at zero as I have moved to their cTrader platform. and yes, they have been good...Ignored