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MT4 and dodgy brokers

  • #1
  • First Post: Jan 8, 2008 4:47am Jan 8, 2008 4:47am
Beware of brokers who only offer MT4 as their trading platform.

MT4 is a turn-key trading platform which any company can buy and start forex trading.

It takes effort, dedication, money and a programming team to build a proprietary platform.

Many of these companies expect their clients to lose their money. Some online gambling companies are starting fx trading companies.

Forex is the new "game" in town.

Regards
Wobble
  • #2
  • Edited 8:11am Jan 8, 2008 7:30am | Edited 8:11am
Quoting wobble
Beware of brokers who only offer MT4 as their trading platform.

MT4 is a turn-key trading platform which any company can buy and start forex trading.

It takes effort, dedication, money and a programming team to build a proprietary platform.

Many of these companies expect their clients to lose their money. Some online gambling companies are starting fx trading companies.

Forex is the new "game" in town.

Regards
Wobble
There is a truth in your words. But try to think from other side, some of the companies create a software which is much worst and difficult to use compare with MT4...Also, we do not know what Broker can do with own software , I think it is much easier to manipulate and hide something with your own software.
  • #3
  • Jan 8, 2008 9:29am Jan 8, 2008 9:29am
As I said "Beware of brokers who only offer MT4 as their trading platform".

There are some brokers which provide multiple platforms. I would stick with companies who provide MT4 and at least another choice of platform.

I'm not going to mention any examples of brokers here which have both MT4 and other choices because I'll get flamed for promoting them.

Regards
Wobble
  • #4
  • Jan 8, 2008 9:38am Jan 8, 2008 9:38am
I agree to a point I use MT4 broker but they also offer 2 other platforms
it seems that the big boys are wanting in on the MT4 now ...FXCM...FOREX.com both are launching MT4 in 2008 they should do fine as I said they realize that MT4 is a huge community so they want on board

but as for the brokers that only offer the MT4 as the only plat form be careful don't put all your eggs in one basket!
M4X............ Hedging My Way To Profits!
  • #5
  • Last Post: Jan 8, 2008 11:04am Jan 8, 2008 11:04am
Quoting M4X
I agree to a point I use MT4 broker but they also offer 2 other platforms
it seems that the big boys are wanting in on the MT4 now ...FXCM...FOREX.com both are launching MT4 in 2008 they should do fine as I said they realize that MT4 is a huge community so they want on board

but as for the brokers that only offer the MT4 as the only plat form be careful don't put all your eggs in one basket!
I agree with being a bit weary of brokers who ONLY offer MT4, that should automatically throw up a red flag in your mind.

MT4 is a very strong platform, and just because it's cheap to aquire and easy to use does not hurt it's credibilty

I have many clients who are looking forward to using the MT4 platform with FXCM and GAIN -- will definitely bring in more traders who have become accustom with using the MT4 platform
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