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MT4 Brokers' Virtual Dealer Plug-In

  • #41
  • Feb 17, 2008 9:02pm Feb 17, 2008 9:02pm
I don't understand this love affair with MT4......and the perceived need to trade via the platform through the acknowledged bucket shop brokers that use it....yes it has a lot of great study indicators but GEEEZUZ.... use it for study and enter your trades with a decent broker.
Same Whore .... Different Dress
  • #42
  • Feb 18, 2008 3:28am Feb 18, 2008 3:28am
This thread illustrate well one of the Big Dogs plays to steel small traders pips.

MT4 is a nice practical platform that I use often for charting, but less for trading.

One way to easily detect broker manipulation is when you get requoted only when prices are in your advantage, either when you enter a trade or exit it.
  • #43
  • Feb 18, 2008 4:16am Feb 18, 2008 4:16am
I do not want to jump into early conclusions. I also hate to hear about dirty practices of brokers, since I also use MT for trading.

I just thought that maybe this plugin is there only to be used for demo accounts. It would make sense to me since that would mimic real trading on demo accounts. Of course, if they can use it with live account, then it really stinks...
  • #44
  • Feb 18, 2008 5:36am Feb 18, 2008 5:36am
Quoting hotstorm
I do not want to jump into early conclusions. I also hate to hear about dirty practices of brokers, since I also use MT for trading.

I just thought that maybe this plugin is there only to be used for demo accounts. It would make sense to me since that would mimic real trading on demo accounts. Of course, if they can use it with live account, then it really stinks...

Why would brokers spice up (or more accurately, add rotten eggs) their demo servers? Just to scare you away from them? Of course brokers want you to think their server is the best when you do demo with them.

There is no requote, no slippage, no execution delays on DEMO.

This plugin was written and sold to MT4 brokers so brokers can CHEAT the traders' real accounts!
  • #45
  • Feb 18, 2008 6:26am Feb 18, 2008 6:26am
Rest assured that a version of this plug in is also being used by non metatrader brokers. I mean those who are maket makers with their own proprietary platform. Ever wondered why you get filled at the top of the spike with FXCM or GFT? Or get requotes? ....umm
By the way, Isn't FXCM going to offer metatrader soon? May be they were just waiting for the official release of the plug in.
  • #46
  • Feb 18, 2008 6:45am Feb 18, 2008 6:45am
Quoting PipStar
Rest assured that a version of this plug in is also being used by non metatrader brokers. I mean those who are maket makers with their own proprietary platform. Ever wondered why you get filled at the top of the spike with FXCM or GFT? Or get requotes? ....umm
By the way, Isn't FXCM going to offer metatrader soon? May be they were just waiting for the official release of the plug in.

How fast does FXCM fill people during news? Last time I traded with FXCM, my order made several minutes before a news was filled many minutes after the news!! And they told me, IT GAPPED, and NO ONE IS SELLING.. So it gapped many minutes before the news - how IMPOSSIBLE! Totallly BS!

Maybe FXCM is waiting for the 5 minute execution delay Plug-In instead. 5 seconds is too small.
  • #47
  • Feb 18, 2008 6:58am Feb 18, 2008 6:58am
Oh my god! You mean brokers aren't out for my best interest?! DAMN and BLAST!

Oh wait...No one ever said this was an equitable or truly equal market. We traders create our edges, and of course the "trading houses" will try and create their edge as well. You want to get around all of this? Go to the closest thing to a market itself, either a straight ECN (aka, trading straight with RBS, Deutsch Bank, Citibank, etc), or trading on a straight exchange such as ICE or the CME. Otherwise you have to deal with the fact that these jokers can create their own markets with their own rules, since there is no true central exchange for forex like there might be for securities or other derivatives.

Until then, blessings be unto Dukascopy! Well, for me at any rate.
Never underestimate the powers of the Force.
  • #48
  • Edited 7:35am Feb 18, 2008 7:17am | Edited 7:35am
Quoting BurgerKing
How fast does FXCM fill people during news? Last time I traded with FXCM, my order made several minutes before a news was filled many minutes after the news!! And they told me, IT GAPPED, and NO ONE IS SELLING.. So it gapped many minutes before the news - how IMPOSSIBLE! Totallly BS!

Maybe FXCM is waiting for the 5 minute execution delay Plug-In instead. 5 seconds is too small.
What a surprise!
BurgerKing (AKA News Trading Junkie) hounds MetaQuotes.net for ways to exploit News spikes even though MetaQuotes Dealers have made it Crystal Clear that they don't like News Traders. When asked why BurgerKing wants to set up a feed to multiple MQ brokers, BurgerKing replies, "because there are so many MQ brokers who are cheats and will steal your money."

The Virtual Dealers plugin was just used in 2007 for the MetaQuotes trading competition. DUH! It seams to me that many bucket shop (non-MQ) are upset because MQ is taking the easy nwebie bucks out of their sleezy business model. Can I have another DUH?

BK, go back to your ECN and seek the easy, sleezy newstrading strategy. I, for one don't need your phonnie-balonnie, flame broiled news fantasies!

Real Trading requires a Real Trading Strategy!
  • #49
  • Feb 18, 2008 11:06am Feb 18, 2008 11:06am
Metaquotes just deleted all posts related to Virtual Dealer Plug-In:

click on cache:

This is G o o g l e's cache of http://forum.mql4.com/6319/page12 as retrieved on 12 Feb 2008 19:31:13 GMT.

This is G o o g l e's cache of http://www.metaquotes.net/forum/1687/ as retrieved on 15 Jan 2008 13:54:46 GMT.
  • #50
  • Feb 18, 2008 11:12am Feb 18, 2008 11:12am
Quoting sam2fx
Do you think we can go around this by using buy and sell limit pending order? In another word, would limit pending order be subjected to slippage, delay etc. I understand pending order are executed at the server side. If so, then all of our order should first be limit order.

slippage parameter in the OrderSend function is ignored for pending orders
  • #51
  • Edited 12:11pm Feb 18, 2008 11:47am | Edited 12:11pm
I first thought that image could be a nice fake, because i wasn't able to find any evidence that such a plugin was ever existing nor developed by Metaquotes.

But at least I found the URLs in Google Cache (let's see how long they will remain there) and it's definitely from Metaquotes website.

This is the official 404 page: www.metaquotes.net/forum/1687/
This is the Google cache for that page: http://www.google.com/search?q=cache...n&ct=clnk&cd=2

This is a championship forum page where they deleted an article about virtual dealer plugin!! Check out second entry at: http://forum.mql4.com/6319/page12
This is the cached version: http://www.google.com/search?q=cache...n&ct=clnk&cd=6

Interesting, they should at least give a statement before rumour spreads.

Also check out waybackmachine: http://web.archive.org/web/*/http://...et/forum/1687/ (first version: http://web.archive.org/web/200611140...et/forum/1687/)

Note: I didnt read the previous posts before posting - just discoverd this was posted earlier already. Also, I just say MQ should tell why they try to erase all traces if they only used this plugin for simulating real-world conditions in championship - anyways, MQ4 is a great platform for charting and scripting - you should definitely have different one account for charting and another for your trading, and you shouldn't use brokers that a) use dealing desks or b) don't take commission on your trades (because you know they need to make money somehow, so its common practice to manipulate the quotes and entries. It's simply not possible to follow a shortterm trading strategy this way. Check out EFX (MBT).
Attached Image (click to enlarge)
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  • #52
  • Feb 18, 2008 12:51pm Feb 18, 2008 12:51pm
This is typical of them. Report these thieves, they think they can steal from us without us finding out, haha, think again.

Have you tried looking at other sites for more details? I did and found several sites but no longer intact, non of the sites load anymore, not sure if it is just by chance or if they were hacked.
  • #53
  • Feb 18, 2008 2:00pm Feb 18, 2008 2:00pm
I wonder if the Dealers have scripting, like the Client side, with different function calls, of course...
  • #54
  • Feb 18, 2008 2:18pm Feb 18, 2008 2:18pm
For some reason this sprung into my head after reading this thread.
I had an image of all theses brokers using the plugin singing

"What ever you can do I can do better"

just like in a Broadway musical.


Cheers
  • #55
  • Feb 18, 2008 3:03pm Feb 18, 2008 3:03pm
I'm not surprised at all of the existence of this plug-in, I think all traders have learned over the time the tricks of spikes, slippage, delays, disconections, spread widening, etc. and I think is not only a matter of MT4 market makers, for sure the rest of the brokers must have their own version of that software, some more agresive than others but the same deal at the end.

Anyway, is interesting to see some info supporting that, interesting thread, thanks BK.
Ado Whether you believe you can do a thing or not, you are right.
  • #56
  • Feb 18, 2008 3:08pm Feb 18, 2008 3:08pm
All I asked was, "What is the Virtual Dealer plugin used for? MAny pepople want to know."
Attached Image (click to enlarge)
Click to Enlarge Name: Virtualy_Banned.JPG Size: 54 KB
  • #57
  • Feb 18, 2008 4:00pm Feb 18, 2008 4:00pm
I have been trying to trade with MBT and Hotspot(which by the way has lower spreads than MBT). Because I am unable to use the metatrader charting prices with either platform because of the price differential ( to confusing on short term trades) I ask Hotspots if they had a bridge for metatrader and they said they were working with 3 different brokers on a project that would use their ECN feed through metatrader for accurate real time quotes. I called the broker that they mentioned and got a confirmation that it should be up and running by mid March at the latest. They would add $1 to each side of the trade in addition to the $3 that Hotspots adds for a total commission of $8rt. Low spreads, total low commission and the use of metatrader!! Sound too good to be true. We'll see.
  • #58
  • Feb 18, 2008 4:35pm Feb 18, 2008 4:35pm
Hello guys. Once again I will be against the opinion of the crowd. Try to open similar trades with any ECN and MT4 broker with the same s/l and t/p levels and check after some period of the time...you know what? your balance at ECN account will be less then at any MT4 broker. Do I need to explain why or it is clear?

Just stop flooding and start trading because if you are professional it doesn't matter which broker or platform do you use. I hope that all ECN brokers can propose better trading conditions in the nearest future so we traders can stop using MT4 (ohh my dreams).
  • #59
  • Feb 18, 2008 4:41pm Feb 18, 2008 4:41pm
Quoting NordLounge
Hello guys. Once again I will be against the opinion of the crowd. Try to open similar trades with any ECN and MT4 broker with the same s/l and t/p levels and check after some period of the time...you know what? your balance at ECN account will be less then at any MT4 broker. Do I need to explain why or it is clear?

Just stop flooding and start trading because if you are professional it doesn't matter which broker or platform do you use. I hope that all ECN brokers can propose better trading conditions in the nearest future so we traders can stop using MT4 (ohh my dreams).
What are you? some kinda shill? and if you are a professional it damn sure does matter which broker or platform you use.
Same Whore .... Different Dress
  • #60
  • Feb 18, 2008 4:54pm Feb 18, 2008 4:54pm
Quoting johnedoe
What are you? some kinda shill? and if you are a professional it damn sure does matter which broker or platform you use.
Offcourse there is a difference and I am not talking about suspicious brokers but for sure I prefer to use top mt4 brokers instead of ECN top brokers just because of better trading conditios.
P.S. I have mentioned that I will start to use ECN as soon as trading conditions and policy will become more suitable for me.
By my opinion widen spread is much worst than spikes because incase of arbitrage situation in 95% of the cases funds lost during the spike will be returned but incase of widen spread.......no need to continue.
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