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Metaquotes Will No Longer Sell its MT4 Trading Platform

  • #81
  • Jan 14, 2018 5:39am Jan 14, 2018 5:39am
Quoting mr.brown
{quote} there is no reverse eng for that. believe me {image}
if u stay away from scam brokers where u can get some clue here at FF n at FPA, u can trade safely. if u hit a scam broker there is no way out. forget d funds.
My way of choosing decent broker is reading negative reviews of it. that will give right clue about broker. by reading those, u can really understand if d trader or d broker is scam.
hope this helps
WaBaS Where are Buyers and Sellers
  • #82
  • Edited 6:10am Jan 14, 2018 5:56am | Edited 6:10am
Quoting hanover
{quote} See this, and also lower portion of the three pages here, here and here. {image} {image} {image} {image}

I Have Pepperstone as Broker, and we had a run in for a number of reasons,

and i dumped it all on them in an e-mail (with out predigest of course) and they bent over backwards to help me out,

at the end of the day i still dont know if anything has changed,

so my question is what would be the best set up i could get from these guy's and how can i verify it,

I Trade using a MT4 Program

thanking you in advance

Brian Dingoman-2
  • #83
  • Jan 14, 2018 6:18am Jan 14, 2018 6:18am
Quoting Mingary
{quote} I am saying that the forex industry propaganda machine is always spewing out the same misinformation to entice the gullible and the greedy to lose all their money in the forex. In this case, spot retail forex IS NOT a US 5 trillion a day market. On a good day it's barely the size of the commodities futures market (200 billion max)
Yup, 5.5% according to this article ... ($291.5B)
https://brokernotes.co/forex-trading...ry-statistics/
Market is not random but unpredictable
  • #84
  • Jan 14, 2018 7:06am Jan 14, 2018 7:06am
Quoting Mingary
{quote} I am saying that the forex industry propaganda machine is always spewing out the same misinformation to entice the gullible and the greedy to lose all their money in the forex. In this case, spot retail forex IS NOT a US 5 trillion a day market. On a good day it's barely the size of the commodities futures market (200 billion max)
Indeed.

The REAL daily overall spot FX turnover is 1.6 Trillion USD, it dropped from 1.9 trillion USD (2013) down to 1.6 Trln (2016), the first contraction since start of surveys... (Geez, I wonder why....)

Average RETAIL daily turnover is indeed around 200 BN per day.

95 % of retail traders ( mmm where did I hear this percentage...) just repeat the nonsense / propaganda they hear from others, typical for retail forex: punting their money, not knowing /understanding the very basics of the industry, too lazy to look it up, too busy chasing the non-existing Holy Grail.

The 5 Trillion number that keeps being mentioned includes swaps, options and futures.
  • #85
  • Jan 14, 2018 7:22am Jan 14, 2018 7:22am
Quoting mr.brown
{quote} if u read it, u might stop trading. one thing I can say, VDP can do anything so its important to work w decent broker
The only way to stop the cheating is when all FX takes place on 1 central exchange. And still that might not be enough.
  • #86
  • Jan 14, 2018 7:24am Jan 14, 2018 7:24am
But is mt5 any better than mt4?
Anything above the line is an uptrend, below the line is a downtrend.
  • #87
  • Jan 14, 2018 7:36am Jan 14, 2018 7:36am
Quoting Degolep
But is mt5 any better than mt4?
At this moment superior so far. Have offline charts, hedge and better history API. No more crashes when history is missing
Try don't lose pants never...
  • #88
  • Jan 14, 2018 7:38am Jan 14, 2018 7:38am
Quoting Traditio
{quote} The only way to stop the cheating is when all FX takes place on 1 central exchange. And still that might not be enough.
Stocks is centralized. whats d outcome?
more manipulation.
LIBOR manipulated.
GOLD manipulated.
Stocks manipulated.
Order Books manipulated.
HFT is it self a manipulation.
if u follow financial news u should have been read all those news above. if not then google.

FX is d least manipulated market as its volume n liquidity is bigger then others n not centralized. its manipulation coming from d middle man called broker due it knows 90% will margin call. so why connect those accounts to real liquidity. cover those in d office

if u work w decent broker, n if u bring those together
Quoting mr.brown
{quote} Mental + Strategy + Management[money+risk] + technical infrastructure = successful trading platform is a small part of trading. MT4 will be replaced because its old code. too many patches/upgrades applied to fix. that's it
u will most probably make gain.

don't forget. trading isn't making gain. its minimizing risk. the problem w retail traders they almost always focus on gain. not risk. in fact if one can minimize risk then can make good gain.
WaBaS Where are Buyers and Sellers
  • #89
  • Jan 14, 2018 10:59am Jan 14, 2018 10:59am
Mr. Brown, which brokers are decent? I'm with IC Markets
  • #90
  • Jan 14, 2018 11:32am Jan 14, 2018 11:32am
Quoting RefuseToLose
Mr. Brown, which brokers are decent? I'm with IC Markets
Quoting mr.brown
{quote} if u stay away from scam brokers where u can get some clue here at FF n at FPA, u can trade safely. if u hit a scam broker there is no way out. forget d funds. My way of choosing decent broker is reading negative reviews of it. that will give right clue about broker. by reading those, u can really understand if d trader or d broker is scam. hope this helps
I can not advise anyone. This is not ethic. Only I can say, I have accounts w Pepperstone, FXPro, IC Markets.
Read above quoted post n Visit FPA. hope it helps
WaBaS Where are Buyers and Sellers
  • #91
  • Jan 14, 2018 11:36am Jan 14, 2018 11:36am
Quoting RefuseToLose
Mr. Brown, which brokers are decent? I'm with IC Markets
There are resources... It depends what matters to you. Reviewing and finding a decent broker before opening an account is the #1 first thing a trader should do before giving them money.
"The fun is in the hunt. Not the kill."
  • #92
  • Jan 14, 2018 11:37am Jan 14, 2018 11:37am
About f*ckin time. Death to the trash that is MT. Hoping to see platforms like cTrader being developed further and eventually have macOS compatibility.
In Greed We Trust
  • #93
  • Jan 14, 2018 12:20pm Jan 14, 2018 12:20pm
Quoting mr.brown
{quote} there is no reverse eng for that. believe me {image}
It does put you off that feature .. I sent you a personal pm.
Most of the issues people face is due to being put in the b book by market maker or hybrid broker.

A-Book/STP: “Straight Through Processing” is when a broker passes the trade orders it receives from its clients onto a liquidity provider. In this case, the broker only makes money from a spread markup and/or commission on trade orders. It does not make or lose money as the client loses or makes money.
B-Book/Dealing Desk/Market Maker: when a broker does not pass the trade orders it receives from its clients onto a liquidity provider. In this case, the broker makes money as the client loses money and loses money as the client makes money.
  • #94
  • Jan 14, 2018 12:27pm Jan 14, 2018 12:27pm
Quoting Pip-Miner
{quote} It does put you off that feature .. I sent you a personal pm. Most of the issues people face is due to being put in the b book by market maker or hybrid broker. A-Book/STP: “Straight Through Processing” is when a broker passes the trade orders it receives from its clients onto a liquidity provider. In this case, the broker only makes money from a spread markup and/or commission on trade orders. It does not make or lose money as the client loses or makes money. B-Book/Dealing Desk/Market Maker: when a broker does not pass the trade orders...
So if I am a A book trader, trade one microlot, my order will go directly to a LP? Keep on believing this nonsense!

Quoting VEEFX
{quote} So if I am a A book trader, trade one microlot, my order will go directly to a LP? Keep on believing this nonsense!
I view retail FX broker as nothing more than a franchise operation with different brands. There are major LPs (12 or 16 whatever that number is) who serve the entire global retail FX order flow routed by these brokers. There has to be some cross brokerage aggregation of orders taking place at the LP to enable filling of large corporate and institutional orders financed by losing retail traders. That is why almost 99.99% of retail traders HAVE to lose by design without any scams. Allowing brokers to run B book by providing lines of credit is just a added bonus offered by LPs to 'make' this fictitious and bogus uncentralized market. It's a scam of massive proportions similar to printing fiat currency out of thin air.

I have yet to see or meet or interact with a single FX trader who has proven track record of profits from retail spot FX for more than 3 yrs, 5 yrs, 10 yrs similar to those measured by morningstar or independently verified. Maybe a handful of them exists in the entire world of retail spot FX. What does that tell us about this industry?
Staying in my lane...
  • #95
  • Jan 14, 2018 1:16pm Jan 14, 2018 1:16pm
Quoting VEEFX
{quote} So if I am a A book trader, trade one microlot, my order will go directly to a LP? Keep on believing this nonsense! {quote} I view retail FX broker as nothing more than a franchise operation with different brands. There are major LPs (12 or 16 whatever that number is) who serve the entire global retail FX order flow routed by these brokers. There has to be some cross brokerage aggregation of orders taking place at the LP to enable filling of large corporate and institutional orders financed by losing retail traders. That is why almost 99.99%...
I'm Not defending brokers. I believe you do get put on the a book if your profile is up to standard. You are a low risk trader , have over a certain amount of money in your account (over 10k ) and are a profitable trader ...
Some of us are profitable ..
  • #96
  • Jan 14, 2018 1:36pm Jan 14, 2018 1:36pm
Quoting Pip-Miner
{quote} I'm Not defending brokers. I believe you do get put on the a book if your profile is up to standard. You are a low risk trader , have over a certain amount of money in your account (over 10k ) and are a profitable trader ... Some of us are profitable ..
I have no doubt you are. How do you know you are on A book? Does the broker come and whisper in your ears? Does it show in your account statement who the counterparty is taking the other side of your trades. Does your trade ticket show that? You are nieve if you are simply going with what they publish on their web site. If you know for sure, I would love to see evidence of it. Again, I only traded with FXCM for one reason....they were a publicly traded company. It gave me confidance that I had some level of legal protection from their practices. Now we are left with no legit broker in US.

Perhaps i should go into selling signals...anyone interested??? Lol
Staying in my lane...
  • #97
  • Edited 1:53pm Jan 14, 2018 1:39pm | Edited 1:53pm
Quoting Degolep
But is mt5 any better than mt4?
MT4 = Windows XP. Old solid system, has a few limitations, but it was/is the most popular OS of all time and lasted many years, and even today 7-8% of the computers worldwide still run XP, even the military use XP)

MT5 = Windows Vista. Newer system, more advanced, with more new features, in theory it's a better system, but not in practice! Just like Windows Vista, almost nobody likes MT5.

Just like Windows Vista MT5 will NEVER surpass MT4.

"You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time."

The market speaks and votes and there is no way to force any product if most people don't want it.

MT5 is already 8 years old software. Yet it holds less than 10% of the market share. And this tendency is pretty stable. Plus, the Forex industry is shrinking now.
Most new traders trade other markets. Not FX.
  • #98
  • Jan 14, 2018 1:45pm Jan 14, 2018 1:45pm
Quoting mr.brown
{quote} {quote} I can not advise anyone. This is not ethic. Only I can say, I have accounts w Pepperstone, FXPro, IC Markets. Read above quoted post n Visit FPA. hope it helps
Yes, it does. Thank you!
  • #99
  • Jan 14, 2018 1:53pm Jan 14, 2018 1:53pm
Quoting VEEFX
{quote} I have no doubt you are. How do you know you are on A book? Does the broker come and whisper in your ears? Does it show in your account statement who the counterparty is taking the other side of your trades. Does your trade ticket show that? You are nieve if you are simply going with what they publish on their web site. If you know for sure, I would love to see evidence of it. Again, I only traded with FXCM for one reason....they were a publicly traded company. It gave me confidance that I had some level of legal protection from their practices....
I wouldn't touch fxcm with a stick due to their illegal practices and proven guilty in court.. Not being in the us we have far more brokers to choose from.
  • #100
  • Jan 14, 2018 3:07pm Jan 14, 2018 3:07pm
Quoting mr.brown
{quote} FX is d least manipulated market as its volume n liquidity is bigger then others n not centralized. its manipulation coming from d middle man called broker due it knows 90% will margin call. so why connect those accounts to real liquidity. cover those in d office if u work w decent broker, n if u bring those together {quote} u will most probably make gain. don't forget. trading isn't making gain. its minimizing risk. the problem w retail traders they almost always focus on gain. not risk. in fact if one can minimize...
I agree with you, but they do try to manipulate FX. I agree that brokers are the biggest problem.

edited: added https://tinyurl.com/ybuz8w4w
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