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MT4 Brokers' Virtual Dealer Plug-In

  • #101
  • Edited Feb 21, 2008 7:27am Feb 20, 2008 10:42pm | Edited Feb 21, 2008 7:27am
Quoting mainsaham
Does anyone have feedback on North Finance?
Based on personal experience, I am most definitely sure they have this.

Quoting goldcourse
Basically all trades on this platform are ECN, yes there are
some providers that carry out dishonest activities but this
is not something we employ. Please test out the demo to get
some idea or open a small account to check the live server.
I believe ODL was referring to their Institutional Platform not the MT4,
because Last time I checked, they dont like scalping on their MT4 platforms.

ECN Brokers earn from commission. The more trades we make, the more money they make.
Scalpers generate a huge amount of volume. NO ECN Brokers dislike Scalping!
Only Market Makers and Forex Game Brokers dislike scalping.
  • #102
  • Feb 21, 2008 5:05am Feb 21, 2008 5:05am
QUESTION:

To:
[email protected], [email protected]


Hi,

I have the following question:
Are you using Virtual Dealer (3.16) Plug-In for your platform?

THKS,
Liviu



ANSWER:

[email protected] wrote:

Dear Liviu,

Thank you for contacting Interbank FX. I apologize but I will not be able to answer that question. We do not discuss how our orders are executed. We pass our orders on to our various liquidity providers to be filled. Please let me know if you have any other questions or concerns.

Thank you,

Representative
Customer Service
Interbank FX
Once A Trader Always A Trader.
  • #103
  • Feb 21, 2008 7:19am Feb 21, 2008 7:19am
Quoting PipStar
I can see this is Virtual Dealer Version 3.16 meaning this has been in existence for some time. I cant understand why Metaquotes would remove your post (from their forum I suppose); may be they are ashame of themselves. I'm not surprised though; forex has never been played fair.

P.S: I now realise what they mean by NO DEALING DESK EXECUTION. There is no HUMAN INTERVENTION as such but they have software that does the job of the dealer with same parameters, if not even better. A few brokers that claim to be no dealing desk come to mind. umm...
I second that...
  • #104
  • Feb 21, 2008 7:55am Feb 21, 2008 7:55am
Quoting Liviu
QUESTION: Are you using Virtual Dealer (3.16) Plug-In for your platform?
ANSWER:
[email protected] wrote:
Dear Liviu,
Thank you for contacting Interbank FX. I apologize but I will not be able to answer that question. We do not discuss how our orders are executed. We pass our orders on to our various liquidity providers to be filled. Please let me know if you have any other questions or concerns.
Thank you,
Representative
Customer Service
Interbank FX
That says it all.
May be IBFX could explain what causes a 4-5 seconds delay on their platform to place a trade or close an order. I suppose trhey dont discuss this either.
  • #105
  • Feb 21, 2008 10:09am Feb 21, 2008 10:09am
Quoting PipStar
I suppose trhey dont discuss this either.
Yes, we do not discuss how do we make money, but...you surely know...we do make money...
  • #106
  • Feb 21, 2008 10:41am Feb 21, 2008 10:41am
I am almost convinced IBFX uses this. I have noticed a delay and different error message at news times over the past 2-3 weeks.

I have been trading news on their platform for 2 years now and something BIG has changed with them very recently. It must be this plugin.

Also, if they were not using it, I would think they would come out and say it to make their customers happy.
  • #107
  • Feb 21, 2008 7:24pm Feb 21, 2008 7:24pm
Quoting FrankTheTank
I am almost convinced IBFX uses this. I have noticed a delay and different error message at news times over the past 2-3 weeks.
I have been trading news on their platform for 2 years now and something BIG has changed with them very recently. It must be this plugin.
Also, if they were not using it, I would think they would come out and say it to make their customers happy.
Agree with you on all the points above. Except I would say they started to change from being trader friendly about a year ago.
  • #108
  • Feb 21, 2008 9:01pm Feb 21, 2008 9:01pm
I agree ..... if they are not using it ....... they would be only too eager to tell you so ... I think. There is no reason to skip the question if you are innocent in my mind. I will not ever consider IBFX since they cannot answer the question with a simple no. IMO
  • #109
  • Feb 21, 2008 11:02pm Feb 21, 2008 11:02pm
Quoting ut2DaMax
I agree ..... if they are not using it ....... they would be only too eager to tell you so ... I think. There is no reason to skip the question if you are innocent in my mind. I will not ever consider IBFX since they cannot answer the question with a simple no. IMO
if you are a swing trader / position trader you will have no problem with any broker, i have a very large account with interbankfx and some time i max them out at 10mill per trade and never got slip on entry or exit, i have no problem with them, believe it or not i found them the most honest mt-4 broker out there, and B.T.W. this is not a mt-4 problem this is a forex market problem, most forex brokers are using there own platform to try to screw there customers.
If I Go Broke Trying Then I Will die happy.
  • #110
  • Feb 21, 2008 11:29pm Feb 21, 2008 11:29pm
Since others have mentioned IBFX now, it was IBFX that wouldn't answer my question when I asked them. I didn't initially mention them only because they're an advertiser on this site. In fact I'm surprised that this thread has lasted. Thumbs up to FF for keeping the thread alive.

Quoting GulfCoastPip
I don't care what they use or how they use, but disclose it, especially if I ask about it. And if you're going to tout that you're better than the rest and boast of an award you received a year or two ago, then you need to have the gonads to stand up and tell me the truth when I ask you a question. Don't send me to a 15 page agreement that a group of drunk attorneys came up with that talks in circles. That way I can make an informed decision on whether or not to do business with you. Don't lie to me, ignore my request, or tell me you don't know, because you do know.

None of these firms are honest. Some are only a little more dishonest. And in my opinion...every one of them are bucketshops. Some are 2 gallon buckets, others 5 gallon buckets, and some 55 gallon drums...all full of sh*t though.

/*end of rant
  • #111
  • Feb 22, 2008 3:19am Feb 22, 2008 3:19am
Quoting PipStar
That says it all.
May be IBFX could explain what causes a 4-5 seconds delay on their platform to place a trade or close an order. I suppose trhey dont discuss this either.
Well to be more precise, the 4-5 seconds delay happen when prices are in our advantage... Else, the execution is very fast!!!

Same for requoting, happening only when it is in our disadvantage . Never in the other direction...

In all case, it is sure they are making lot of money out of their contest!
  • #112
  • Feb 22, 2008 11:24am Feb 22, 2008 11:24am
Quoting Moe
if you are a swing trader / position trader you will have no problem with any broker, i have a very large account with interbankfx and some time i max them out at 10mill per trade and never got slip on entry or exit, i have no problem with them, believe it or not i found them the most honest mt-4 broker out there, and B.T.W. this is not a mt-4 problem this is a forex market problem, most forex brokers are using there own platform to try to screw there customers.
Good to know...this is true about swing trader / position trader, unless when they widen (rarely) their spread with 50-100 pips and your stops are in the range...

And the only easy way to get into a trade when the market is a little on the move is by a limit/stop order or you always get requoted, unless if the prices are in their advantage, then you are immediately filled... at the old price, of course!

To be fair, I did not have a problem yet with my limit/stop order execution, and the fact that they allow to put orders and SL/TP within 1 pip of the current price, with the 0.01 mni lot you can trade are two points in their favor as an MT4 broker.
  • #113
  • Feb 22, 2008 8:11pm Feb 22, 2008 8:11pm
Quoting Moe
if you are a swing trader / position trader you will have no problem with any broker, i have a very large account with interbankfx and some time i max them out at 10mill per trade and never got slip on entry or exit, i have no problem with them, believe it or not i found them the most honest mt-4 broker out there, and B.T.W. this is not a mt-4 problem this is a forex market problem, most forex brokers are using there own platform to try to screw there customers.
Your posts are always very supportive of InterbankFX
Now you say you max them 10 mill per trade?
10 mill = 100 standard lots = $ 1000.00 per pip
Should they widen their spreads 60 pips which they have done in the past, you could stand to lose 60-100k on a trade just in a fraction of a second.
That certainly would make you a super trader. Anyone trading these volumes would hardly use this type of broker. Care to share a screenshot of it all with us?
  • #114
  • Feb 22, 2008 8:15pm Feb 22, 2008 8:15pm
Quoting PipStar
Your posts are always very supportive of InterbankFX
Now you say you max them 10 mill per trade?
10 mill = 100 standard lots = $ 1000.00 per pip
Should they widen their spreads 60 pips which they have done in the past, you could stand to lose 60-100k on a trade just in a fraction of a second.
That certainly would make you a super trader. Anyone trading these volumes would hardly use this type of broker. Care to share a screenshot of it all with us?
lol, no need to prove anything, im just going with my experience, the fact is ima swing / position trader and i have never had these problems, like i say it might depends on your trading style that this effects. just my experience bro, call it what you want.
If I Go Broke Trying Then I Will die happy.
  • #115
  • Feb 23, 2008 5:26am Feb 23, 2008 5:26am
Quoting phy
Not me, just finding a little more evidence...

I still enjoy playing with the Client platform.

I have real-time MBTrading quotes imported into mine.

Here is Friday's end of day 1-second bars, Bid(low) Ask(high). The spread
indicator lies a little bit, as it displays the difference between the lowest bid and highest ask for each second, not the spread for each tick. There are multiple ticks per second, and MT4's minimum time display is one second.

The chart covers about an hour and 10 minutes.
.
.
Maybe my questions are not fully relevant in this thread, but....

Hi phy, I have some questions related MBT.
By reading your comment I started download MBT demo.
But Kaspersky Internet Security 7 found that there is a riskware in mbtnavigator.exe.
Is this a real threat ?

Plus, "real-time MBTrading quotes imported into mine" does this mean the MBT navigator is networked with MT4 ?
If so how ?
  • #116
  • Feb 23, 2008 1:12pm Feb 23, 2008 1:12pm
Quoting pjo
Maybe my questions are not fully relevant in this thread, but....

Hi phy, I have some questions related MBT.
By reading your comment I started download MBT demo.
But Kaspersky Internet Security 7 found that there is a riskware in mbtnavigator.exe.
Is this a real threat ?

Plus, "real-time MBTrading quotes imported into mine" does this mean the MBT navigator is networked with MT4 ?
If so how ?
I see no reason why MBT would include nefarious software in their platform. It may be "screen sharing" for their support group to access, I don't know, nor am I concered about it.

The Navigator opens three connections while it is running. I think they are used for Quotes, Orders, and Account data.

"Riskware" is a new term for me.

http://forum.kaspersky.com/index.php?showtopic=49972 mentions Navigator.

You might query MBT ( or direct your question to Justin in this forum http://www.forexfactory.com/showthread.php?t=10002 ) if you are concerned about some function of the Navigator.

There is also a Yahoo Group http://finance.groups.yahoo.com/group/mbtsdk/ which answers software questions about the MBTrading Navigator internal workings.

If you want to see what comes and goes on your PC try a packet sniffer. www.wireshark.org offers an excellent solution for that activity.

---

I have modified a sample C++ program included with the MBT SDK to cause it to write quote history files which are then readable by MT4 as offline charts, and updated "real-time".
  • #117
  • Feb 23, 2008 5:21pm Feb 23, 2008 5:21pm
phy Thanks for your comment.

pjo
  • #118
  • Edited 1:27pm Feb 24, 2008 12:17pm | Edited 1:27pm
Quote
Market Abuse, defined in section 118 of the Financial Services and Markets Act 2000 and in the Market Abuse Directive, consists primarily of Insider Information and Market Manipulation. The Market Abuse Directive provides an EU wide market abuse regime aimed at reducing the incidence of market abuse.
http://www.fsa.gov.uk/Pages/About/Wh...se/index.shtml

NFA and FSA now may investigate our concerns (they say) about the possible
illegal use of this plugin. Now they know it exists hopefully will try to find out if brokers that get complaints filed use it or not.

Either way I am happy with my broker.
  • #119
  • Feb 24, 2008 9:40pm Feb 24, 2008 9:40pm
Any broker who instigates delayed execution and added slippage (via virtual dealer plug-in) on their platform by virtue of being able to have a 'look back' at price action before executing a trade detrimental to the client. That's market abuse.
  • #120
  • Feb 24, 2008 10:51pm Feb 24, 2008 10:51pm
I would call it something else.


fraud
Deception carried out for the purpose of achieving personal gain while causing injury to another party. For example, selling a new security issue while intentionally concealing important facts related to the issue is fraud.

http://financial-dictionary.thefreedictionary.com/fraud

-----------------------------------------------------------------------

Definition of Fraud

All multifarious means which human ingenuity can devise, and which are resorted to by one individual to get an advantage over another by false suggestions or suppression of the truth. It includes all surprises, tricks, cunning or dissembling, and any unfair way which another is cheated.

Source: Black’s Law Dictionary, 5th ed., by Henry Campbell Black, West Publishing Co., St. Paul, Minnesota, 1979.

------------------------------------------------------------------------
Criminal Prosecution of Fraud
Although federal securities laws address financial statement fraud, prosecutors often also will charge criminal violations under one or more of the below categories, depending on the exact circumstances of the case.

-Misrepresentation of material facts.
-Concealment of material facts.
-Bribery.
-Illegal gratuities.
-Conflicts of interest.
-Embezzlement.
-Theft of trade secrets.
-Mail fraud.
-Wire fraud.
-Interstate transportation of stolen property.
-Racketeer Influenced and Corrupt Organizations (RICO).
-False claims and statements.
-Conspiracy.
-Foreign Corrupt Practices Act.
-Bankruptcy fraud.
-Financial institution fraud.
-Health care fraud.
-Identity theft.
-Telemarketing fraud.
-Computer fraud.
-Economic espionage.
-Money laundering.

http://www.aicpa.org/pubs/jofa/oct2004/lawrence.htm
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