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Need a good Metatrader broker for a scalper system

  • Post #1
  • Quote
  • First Post: Mar 20, 2007 3:45pm Mar 20, 2007 3:45pm
Anyone here know of a good Metatrader Broker for scalper systems. I currently have accounts with IBFX and Velocity but have been told that there might be better brokers out there. .

I would like to find someone that will work with us on the spread. We make allot of trades 30+ a day would like to get some of that kicked back.

thanks...
Keep it simple stoopid....
Quoting Kurka Fund
Anyone here know of a good Metatrader Broker for scalper systems. I currently have accounts with IBFX and Velocity but have been told that there might be better brokers out there. .

I would like to find someone that will work with us on the spread. We make allot of trades 30+ a day would like to get some of that kicked back.

thanks...
What has your experience been like with a scalping system using IBFX and Velocity? I would recommend http://www.efxgroup.com/

No dealing desk, but they aren't a Metatrader broker. They offer an API though, so you could always rewrite the system on Tradestation and run it that way. Tradestation is a better platform anyway.
Velocity seems to be much faster... gets an extra pip on about every 4th trade. which adds up.... the only thing is that sometimes there are spikes that are not present in IBFX. these spikes are great for my system but i cannot explain them and i dont like that .... I think that it reflects real price action more than IBFX....
Keep it simple stoopid....
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Interestingly enough, I've got a dll that allows MetaTrader to buy and sell via my EFX account.
Quoting tesla
Interestingly enough, I've got a dll that allows MetaTrader to buy and sell via my EFX account.
Say what? you are going to be very popular... lol
Quoting tesla
Interestingly enough, I've got a dll that allows MetaTrader to buy and sell via my EFX account.
how much of a difference in pips per trade does it get you?
Keep it simple stoopid....
  • Post #7
  • Quote
  • Edited 9:36pm Mar 20, 2007 8:04pm | Edited 9:36pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting Kurka Fund
how much of a difference in pips per trade does it get you?
Depends on time of day. Eurusd usually has no spread and total commission of just under 1 pip.

Short cause on bberry. Will have time to explain/discuss when daughter's in bed in 2 hours.
Hi Tesla. Just PM'ed you.
Quoting tesla
Interestingly enough, I've got a dll that allows MetaTrader to buy and sell via my EFX account.
Does this including charting or just ordering?
Quoting tesla
Interestingly enough, I've got a dll that allows MetaTrader to buy and sell via my EFX account.
nice work.
Quoting piccolo
nice work.
i execute via FXCM's institutional platform by connecting MT4 to Strategy Runner. so far so good.
risktaker989, i'm now using Strategy Runner (SR) on ODL's Currenex. I looked at the SR-MT4 bridge, but the guys at SR told us that it is too slow to scalp and introduces too much latency into the equation. It is fine for swing trading and strategies where execution speed is not that critical.
I worked with SR, not impresses. MT is a better solution for retail IMO.
Keep it simple stoopid....
IMO, SR is useless for retail. It is only a viable solution if you want to trade on Currenex, but don't want to use the clunky Currenex Java console.
  • Post #15
  • Quote
  • Last Post: Mar 22, 2007 8:29am Mar 22, 2007 8:29am
Quoting dominicanosrus
risktaker989, i'm now using Strategy Runner (SR) on ODL's Currenex. I looked at the SR-MT4 bridge, but the guys at SR told us that it is too slow to scalp and introduces too much latency into the equation. It is fine for swing trading and strategies where execution speed is not that critical.
yes, that's true. i'm not a scalper so i've never had issues with latency (though nominal). i probably jumped the gun with suggesting it since now that i go back and re-read earlier posts it's clear the trader is primarily a scalper.

but if you're essentially swing trading it's a great way to use MT for it's capabilities and yet route the orders via a different market maker that is compatible with SR but not MT.

cheers.
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