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FTMO - For serious traders

  • #1,101
  • Feb 9, 2020 10:39am Feb 9, 2020 10:39am
Quoting benaiah
{quote} Thx, good to know! Incidentally I also chose Purple I was thinking of trading equity CFDs. But my only experience with CFDs is Gold and Crude. What instruments are you trading?
I trade 4 currency pairs; eurusd, gbpusd, audusd & usdjpy. Never seemed to get a good enough handle on Gold but might revisit it one day...

Let us know how you get on
  • #1,102
  • Feb 9, 2020 10:44am Feb 9, 2020 10:44am
Quoting fx11trade
I dont understand why would anyone chose a Standard account over a ECN or RAW. You pay so much more with higher spreads than with lower spread + commision.
Fair enough. You are right of course but I am a simple soul & like to keep things super-simple. A slightly larger spread doesn't bother me, I risk a set amount per trade, pick my stop, work out trade size, set orders then walk away.

In my very humble opinion, if you've got an edge, a couple of pips here & there makes very little difference over the long term.
  • #1,103
  • Feb 10, 2020 2:52pm Feb 10, 2020 2:52pm
These will be awesome
Inserted Video
  • #1,104
  • Feb 11, 2020 12:44am Feb 11, 2020 12:44am
Within MT4 (universal platform that allows connection to any broker), I opened a demo account after searching for "FF traders" within the Broker search box. Once the account was created, the server name changed to RinKost Markets. However, there was no LMAX symbols.

Then, I downloaded the FTMO MT4 EXE to install your copy of the MT4 installation. I wasn't able to make a demo account with your licensed copy without making some changes. The changes that I made were,

Deleting the MT4/config/ "Terminal.ini" within the MT4 installation folder. After doing so, I was able to create a demo account and login to see the LMAX symbols. I also made a Trial Challenge to get the login details to confirm everything was correct.

The next step, I looked into the SRV files with notepad on your server and Rinkost Markets to find out you are using the same IP address which means you are a white label of RinKost markets. I've never heard of Rinkost before, so I searched for them on google and came across an interesting piece of information. This broker is now offline and has reviews of being a russian scam broker

Russia’s KROUFR adds FX firm Rinkost Markets to “Black List”

MT4 server is located within Beeks Cloud infrastructure which is nice, but why are you using the RinKost Markets infrastructure? What is your connection to RinKost? Why didn't you become a whitelabel through New Zealand LMAX? How do we know you are actually a whitelabel for lmax? You could be using their datafeed from their Demo API for all we know.

How are you offering LMAX Liquidity without charging us a commission?
  • #1,105
  • Feb 11, 2020 6:32am Feb 11, 2020 6:32am
Hi all,

I hope everyone is doing well.

Quoting Patje
Was actually really excited about the lmax addition... Till I saw this: LMAX provides two different data feeds. For Live trading accounts they provide a live data feed which is the actual market data. For their Demo trading accounts, they provide a Demo data feed which is not actual market data and will not exactly reflect the Live market data update frequency as it is running under a pricing robot. In our experience, when the market is active there are significantly less price updates with the Demo data feed compared to the Live data feed. When...
Hi Patje,

this is a very good question and also you are correct about the update frequency of the normal demo accounts. This issue took us a long time to solve, but our FTMO demo accounts are actually using live LMAX data feed. Feel free to try in our Free Trial.

Hi Hedgebitcoin,

honestly, I have no idea what Rinkost Market is. I have never heard this name before. We were setting up our technical infrastructure directly with LMAX. If you want to check our demo account, just take a Free Trial and use the exe file provided by us.

Otakar
  • #1,106
  • Feb 11, 2020 6:54am Feb 11, 2020 6:54am
Quoting Hedgebitcoin
Within MT4 (universal platform that allows connection to any broker), I opened a demo account after searching for "FF traders" within the Broker search box. Once the account was created, the server name changed to RinKost Markets. However, there was no LMAX symbols. Then, I downloaded the FTMO MT4 EXE to install your copy of the MT4 installation. I wasn't able to make a demo account with your licensed copy without making some changes. The changes that I made were, Deleting the MT4/config/ "Terminal.ini" within the MT4 installation folder. After...
Well observed. I think you need to direct your questions and demand answer. Otherwise they will remain unanswered. In the moment of writing, you post is 5 hours old while TraderOtakar’s post is 10 minutes old, yet he didn’t care to respond to your discovery.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #1,107
  • Feb 11, 2020 7:32am Feb 11, 2020 7:32am
TraderOtakar,

Does this mean we should use the FTMO platform instead of the others you offer? IE Purple trading etc etc. If you start a challenge with a different broker do you propose we change to the FTMO platform after successfully completing the challenge?

Thanks
maahome
  • #1,108
  • Feb 11, 2020 7:59am Feb 11, 2020 7:59am
FTMO platform does seem to offer a better spread for major pair compared to other brokers offered in challenge. However the spread in some cross pairs such as GBPAUD GBPNZD is higher (I am comparing to purple trading that I am using). The data feed seems to be stable so far compared to purple trading that I frequently experience delay for few seconds.
  • #1,109
  • Feb 11, 2020 9:11am Feb 11, 2020 9:11am
Quoting TraderOtakar
Hi all, I hope everyone is doing well. {quote} Hi Patje, this is a very good question and also you are correct about the update frequency of the normal demo accounts. This issue took us a long time to solve, but our FTMO demo accounts are actually using live LMAX data feed. Feel free to try in our Free Trial. Hi Hedgebitcoin, honestly, I have no idea what Rinkost Market is. I have never heard this name before. We were setting up our technical infrastructure directly with LMAX. If you want to check our demo account, just take a Free Trial and use...
Image: (Login 1) is the trading account login details to FTMO demo account
Attached Image (click to enlarge)
Click to Enlarge Name: login 1.png Size: 44 KB

Image: (Login 2) is logging into RinKostMarkets-Demo server with FTMO account and password
Attached Image (click to enlarge)
Click to Enlarge Name: login 2.png Size: 56 KB

Image: (Login 3) is logged in
Attached Image (click to enlarge)
Click to Enlarge Name: login 3.png Size: 47 KB
  • #1,110
  • Feb 11, 2020 9:19am Feb 11, 2020 9:19am
The FTMO Platform with lmax is just superb. Testing it these two days and compared with Purple trading and others, this one is much much better: the speed is awesome. No comission at all. The swap fee is also far less than others. Securing partnership with LMAX is simply fantastic! I'm very excited to have another go for the Challenge...
  • #1,111
  • Feb 11, 2020 9:22am Feb 11, 2020 9:22am
Image: (config 1) - MetaQuotes /config folder that contains the "SRV" file ( which is used to identify the server name and IP to login)
Attached Image (click to enlarge)
Click to Enlarge Name: Config 1.png Size: 25 KB

Image: (config 2) - right click the file and open with Notepad
Attached Image

Image: (config 3) - Now we can see the name of the server and the IP address of FFTraderSRO-DEMO IP address 46.235.34.161:443
Attached Image (click to enlarge)
Click to Enlarge Name: config 3.png Size: 30 KB

Image: (config 4) - Now we can see the name of the server and the IP address of RinKostMarkets-DEMO IP address 46.235.34.161:443
Attached Image (click to enlarge)
Click to Enlarge Name: config 4.png Size: 34 KB
  • #1,112
  • Feb 11, 2020 9:30am Feb 11, 2020 9:30am
Why are you using the RinKost Markets infrastructure?
What is your connection to RinKost?

MetaQuotes no longer licenses MT4 to new brokers since 2018. The only way to open a new brokerage/re-branded and offer MT4 today, is through a White Label. When you become a WhiteLabel, you use the same infrastructure.

  • #1,113
  • Feb 11, 2020 10:36am Feb 11, 2020 10:36am
Quoting Hedgebitcoin
Why are you using the RinKost Markets infrastructure? What is your connection to RinKost? MetaQuotes no longer licenses MT4 to new brokers since 2018. The only way to open a new brokerage/re-branded and offer MT4 today, is through a White Label. When you become a WhiteLabel, you use the same infrastructure.
Dear Hedgebitcoin,

thank you for the information. I will need to discuss it with LMAX as we truly have nothing to do with Rinkost. Please allow me some time to find out. I am also curious about it.

Hi LittleMonkee,
thank you for your kind words. I am happy to hear that.

Hi Mahoome,
thank you for your question. The choice is absolutely up to you. We are still working with our partners. Moreover, we are planning to have a closer relationship with them.

Hi Clivethien,
thank you for letting me know. We are still in the process of negotiating spreads for some instruments. However, it might happen that some spreads will be with us higher even-though we have no markup. We are just starting and some spreads are based on volume.

Otakar
  • #1,114
  • Feb 11, 2020 11:03am Feb 11, 2020 11:03am
Quoting TraderOtakar
{quote} Dear Hedgebitcoin, thank you for the information. I will need to discuss it with LMAX as we truly have nothing to do with Rinkost. Please allow me some time to find out. I am also curious about it. Hi LittleMonkee, thank you for your kind words. I am happy to hear that. Hi Mahoome, thank you for your question. The choice is absolutely up to you. We are still working with our partners. Moreover, we are planning to have a closer relationship with them. Hi Clivethien, thank you for letting me know. We are still in the process of negotiating...
No problem at all, spread of most pairs is still generally lower than other brokers. With the better connection stability it is a vast improvement to my trading. I am looking forward to use this platform soon. Kudos to your team!
  • #1,115
  • Feb 11, 2020 11:33am Feb 11, 2020 11:33am
I also love the FF trader platform with low spreads is cheaper then all of the regular retail brokers.

I am just wondering why there isn't XAUEUR pair to trade? And if it will be added?
  • #1,116
  • Feb 11, 2020 12:42pm Feb 11, 2020 12:42pm
is rinkost ecn feed just a coincidence to your lmax feed?
Attached Image (click to enlarge)
Click to Enlarge Name: rinkost vs FTMO.png Size: 91 KB


The symbol digit decimal on rinkost is set to one while FTMO has it set to 0 ( slight difference in candle creation, spreads and quotes the same).
Attached Image (click to enlarge)
Click to Enlarge Name: digit 1 vs digit 0.png Size: 72 KB
  • #1,117
  • Feb 11, 2020 6:31pm Feb 11, 2020 6:31pm
It goes without saying that broker-choice is an essential part of successful trading.

Having a broker that has poor execution or whose platform freezes (things I've experienced while using IC Markets, for example, in one of my failed challenges at FTMO) messes with your psychology, which as everyone knows, is just as important as your trading strategy.

I've used LMAX in live trading previously for a UK-based prop firm and--to be kind--let's just say that I was not impressed.

If, as Otakar says, the new platform is a result of FTMO's partnership with LMAX, why would the latter assign them to a server linked to the blacklisted (and by the Russian regulator, take note) broker, Rinkost? FTMO should not allow LMAX to treat them so shabbily.

Also, IMO, there's a possible conflict of interest when a funded trading program decides to offer its own trading platform--with all the downside this implies--for those taking their Challenge (Topstep comes to mind). To me, it reinforces the idea that it's about the fees more than it's about finding good traders.
Amor Fati--F. Nietzsche
  • #1,118
  • Feb 11, 2020 8:49pm Feb 11, 2020 8:49pm
LMAX recycling infrastructure from previous white label company which is now defunkt. Forgoting to change the namesake of server on the ip.
I don't think it's a big issue.
  • #1,119
  • Feb 11, 2020 11:33pm Feb 11, 2020 11:33pm
Quoting BubaYaga
LMAX recycling infrastructure from previous white label company which is now defunkt. Forgoting to change the namesake of server on the ip. I don't think it's a big issue.
You are incorrect.

Rinkost came online in 2008 , They had their own MT4 server license as of that date. They are not a white label.

LMAX came online in 2010 (use the web archive). LMAX didn't even offer MT4 at launch, nor a white label solution at that time.

White Label is when you use an existing brokers server license, Infrastructure, payment solution, and liquidity. Metaquotes stopped selling MT4 license in 2018. Any new broker after that offering MT4 must be a white label for another brokerage.

LMAX GLOBAL LIVE Metatrader server is located in Amazon Data Services UK
LMAX LiveUK Metatrader server is located in LMAX Limited UK
LMAXNZ-LiveUK Metatrader server is located in LMAX Limited UK

Rinkost aka FFTrader use the same IP address, which means its the same infrastructure and Metatrader License.
  • #1,120
  • Feb 11, 2020 11:42pm Feb 11, 2020 11:42pm
Quoting doji
It goes without saying that broker-choice is an essential part of successful trading. Having a broker that has poor execution or whose platform freezes (things I've experienced while using IC Markets, for example, in one of my failed challenges at FTMO) messes with your psychology, which as everyone knows, is just as important as your trading strategy. I've used LMAX in live trading previously for a UK-based prop firm and--to be kind--let's just say that I was not impressed. If, as Otakar says, the new platform is a result of FTMO's partnership...
How can you blame lmax? They have their licensed Metatrader server and hosted in two locations. Neither operate on the IP address of Rinkost/TTrader
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