Which MT4 platform do you like the most and why?

Hello All,

I am a newbie to forex trading so any and all comments are greatly appreciated.

I have noticed problems using Interbank. Yesterday they appeared to have a busy trade context and I could not get an order placed and I missed a good trade on the USD/JPY. I have heard several negative things about them and several good things.

I am also looking for a MT4 platform that will allow me to trade for multiple clients at the same time. Which platform do you like the most and why?

I would appreciate any and all answers.

Also what forex courses would you recommend and books for newbies and why? I have been practice trading for the last four months and I am gettting ready to go live.

Another parrt of my question is which broker gives you the least hassle when you are withdrawing your money. That would be a big plus for me.

Many thanks

new2trading

Your new to the forex and your looking for a good forex course and your trading for multiple clients?

Get yourself a good Attorney.

Do NOT trade the forex until you have a very thorough knowledge of the forex and the metatrader platform. I strongly recommend more demo trading. At the same time, take a class or two on the forex. If your happy with your demo trading and have a good profit record, then move to live trading. Wait until you have a good system and are profitable before considering the idea of trading for others. Otherwise, you will need that Attorney.

Hello,

If you read my post correctly I said there are people that want me to trade for them.

I am not doing so yet of course, I know I need some more time to learn.

You did not answer one of my questions whatsoever.

Or do you just enjoy bashing someone?

You had to start somewhere also didn't you or is it just pure arrogance on your part?

new2trading

Hi ,

Do not use Crown Forex. They change the rules and don't tell you what they are. 1pip spread they advertise is deceptive. Will accuse you of scalping, if you use robot EA and it makes money , will shut you down for "unreasonable trading"
I have been using FXDD. Their customer service is very good. Spreads arent bad but occasionally they widen them on GBP and YEN pairs. Also MIG is good with better spreads.
My advice is take a course how to program in MT4 and write your own robots or hire someone to write you one. About $500 is average.
If you will trade for others , it might be best to set up as IB with a broker as you will get rebate. Also you can put a copy of your commission agreement with broker so they will pay you before client can withdraw money. This way the client has their own account (so they take care of their taxes) and your commissions are guaranteed. Also , I have found rebate sites (they are actually IB's) that if you sign up through them, you get so much back per trade. But I have found brokers are competitive on pip spreads if you are bringing alot of business.
As for this other person's response, don't let it discourage you, this is typical of most people, because they haven't suceeded in trading they try to bring you down. It's fun to dream. If you think you can do it, you can!!!

http://www.forex-tsd.com/commercial-...per-day-2.html Look for the Bill he is very helpful

Also try www.pipboxer.com

As for strategies... everything is a strategy (check out what Yen pairs do on Full moon and New moon) but key is your account size and keeping to your goals. If you trade with $500 account your % return might be good but the $ value is not something to pay the bills. And if you set your goal, don't change it out of fear or greed.

To your success!!!!

I hope u take positively on his comment and he had the necessary experience in giving this comment. I think what he is trying to tell u is that forex carry a high degree of risk in which you should have proven results for yourself first for the first few years b4 start trading for others.

Some people with experience know it better....

This kind of advice is ok because it will make us/you be extra carefull in our trading real money account.

Trading and consistant profitable trading require effort and long testing time.

Thank You

I absolutely agree! They shut down access to my account for this very reason with NO NOTICE. The didn't just shut off robot function (which is one of the broker choices), but shut down ANY access to my account. I had thousands of dollars in open trades and they denied me access to my account for FOUR days. They would not let me close the trades and they would not close them for me even though I specifically requested that they close everything. They would not even answer my phone calls or email. The person on the "live chat" web feature would only tell me that they couldn't help, and that I needed to "call customer service during the day." I lost thousands of dollars to them that week. They told me it was my fault because of my trading style. (No, I was NOT scalping or news trading. These were all multi-hour trades with fixed TP and SL values.)

Further, I would place trades with fixed take profit values and many times watched the market move past my TP price by several pips, then retrace without closing my trade. (Yes, I do know the difference between bid/ask).

In all of my experience I find that Crown Forex is the most dishonest, manipulative broker I have ever met - especially if one is making money. They actively trade against their clients.

Take care,
Bill

I like alpari MT4, & metaquotes MT4. Alpari seem a decent broker with a largish array of pairs to choose from.

Helo Jimbil and all,

Thanks for the great info. I have heard good and bad things about Interbank, but what is their take on scalping. I am getting fairly good now at scalping by taking 10 pips at a time and I am studying other trading strategies.

I notice that Interbank takes 10 pips profit on the GBP/JPY pair which to me is ludicrous! Do some traders use certain platforms to trade certain pairs and other platforms to trade the more pricey pairs and could you elaborate on which platforms you like to trade that are fair on "pricey pairs".

Thanks again for the great input.

new2trading

MIG has good spreads. FXDD is not bad.

Depending on size of account, you can negotiate with broker for lower spread, but sometimes they will then charge commission.


http://www.tradexfx.com/TEMP/index.php say they have ECN trading for larger accounts ( I think above $30,000)

fibogroup.com

I would appreciate more answers than stupidity please and your answer was quite stupid Kasra!

If you have nothing meaningful to say, then don't say it!

I feel your pain. There's a lot of stuff to weed through and most of the information out there is not trustworthy. You have really have to do a lot of research. The best thing I can say to you about choosing a broker is to learn the difference between a Dealing Desk and an ECN. If you're looking to use Metatrader then you will be going through a dealing desk as the Metatrader program is designed as dealing desk software. Make sure you know the difference.
The FX market is not a centralized market and is not subject to a whole lot of regulation. Make sure you know what country your broker is located in. It makes a big difference. It'll take a bit of research of your own, but the information is out there. Keep looking.

some Dealing Desks:
InterbankFX
CMC
CMS
GFT

some ECNs:
EFX
Hotspot
Interactive Brokers

Hope that helps

Hello Loopy,

Thank you very much for the great information! That is why I decided to post my question here. All of you have way more experience than me and I love to learn from others. If you think you are unteachable then you are in trouble but I am "teachable".

I will do some research. From my understanding Interbank is here in the States and one of the other posts said they like the way they structure to make sure the broker gets paid first.

Can you or any others post more comments on this?

Also another question in the same thread which brand of cell phone do you like to use the most for trading while away from your computer? I believe it has to be Pocket PC compatible or am I wrong?

Again thanks for your valuable response! Have a great weekend!

new2trading

Again thanks for the inputs they have helped me to do some more research so I can purchase the correct mobile phone for trading while at work during the day. Of course I will be demo trading until I get more practice.

Does Oanda support the MT4 trading platform I couldn't see anywhere on their website where they even mention it?

It does look like they have pretty good pip spreads there you may want to check them out at www.oanda.com they also have very good historical data for research purposes.

Can anyone help me out here??

Oanda's trading platform is a web/java based platform, it's not related with MT4 at all.

Hope it helps.