Dear Traders:
There have been several questions regarding FXCM’s launch of the Metatrader 4 software on this forum. FXCM had planned to release the MetaTrader software at the end of 2007. Since then several challenges have arisen that we had not previously anticipated. As Director of the MT4 initiative I would like to address them here.
In 2006 FXCM moved from a Dealing Desk to a No Dealing Desk execution model. We did this to eliminate a conflict of interest between the broker and the trader, to promote greater price stability during volatile markets, and to lower the potential for market manipulation by increasing the competition amongst price providers. In the last 12 months, we have rolled out the following software upgrades:
-Trading From Integrated Charts
-One Click Trading
-Fractional Pip Pricing
-Partial Order Fill Capabilities
We have experienced delays with our launch for MT4 because several of these upgrades have clashed with the limitations of the MetaTrader software. For example, the MetaTrader software was originally designed for a Dealing Desk model. For this reason, the main challenge we have faced is integrating our no-dealing desk execution into MetaTrader. While there are existing third party programs that allow Dealing Desks to easily integrate MT4, such options are not as feasible when integrating MT4 into our highly sophisticated order routing system.
We recognize the value that the Expert Advisors and its back testing capabilities hold for many clients. With that said, we take the testing of our products seriously. Currently, we are testing how the latest software upgrades for the integration. Until these test results meet our standards, we will not be able to launch MT4. Like you, we certainly hope to offer MT4 sooner than later.
Please sign up at the following link if you would like to be notified when we launch the MT4 software. We will send an email to all traders once we have a firm date.
http://www.fxcm.com/metatrader-platform.jsp.
I thank you all for your patience and look forward to a working relationship moving forward. In the mean time, we strongly encourage you to try out our primary trading platform – The FX Trading Station 2.0, which now provides the ability to analyze charts, place orders and track positions directly from charts.
Eliseo Agas
[email protected]
________________________________________________________________________
Jaclyn Sales
Public Relations Coordinator
FXCM
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
[email protected]
There have been several questions regarding FXCM’s launch of the Metatrader 4 software on this forum. FXCM had planned to release the MetaTrader software at the end of 2007. Since then several challenges have arisen that we had not previously anticipated. As Director of the MT4 initiative I would like to address them here.
In 2006 FXCM moved from a Dealing Desk to a No Dealing Desk execution model. We did this to eliminate a conflict of interest between the broker and the trader, to promote greater price stability during volatile markets, and to lower the potential for market manipulation by increasing the competition amongst price providers. In the last 12 months, we have rolled out the following software upgrades:
-Trading From Integrated Charts
-One Click Trading
-Fractional Pip Pricing
-Partial Order Fill Capabilities
We have experienced delays with our launch for MT4 because several of these upgrades have clashed with the limitations of the MetaTrader software. For example, the MetaTrader software was originally designed for a Dealing Desk model. For this reason, the main challenge we have faced is integrating our no-dealing desk execution into MetaTrader. While there are existing third party programs that allow Dealing Desks to easily integrate MT4, such options are not as feasible when integrating MT4 into our highly sophisticated order routing system.
We recognize the value that the Expert Advisors and its back testing capabilities hold for many clients. With that said, we take the testing of our products seriously. Currently, we are testing how the latest software upgrades for the integration. Until these test results meet our standards, we will not be able to launch MT4. Like you, we certainly hope to offer MT4 sooner than later.
Please sign up at the following link if you would like to be notified when we launch the MT4 software. We will send an email to all traders once we have a firm date.
http://www.fxcm.com/metatrader-platform.jsp.
I thank you all for your patience and look forward to a working relationship moving forward. In the mean time, we strongly encourage you to try out our primary trading platform – The FX Trading Station 2.0, which now provides the ability to analyze charts, place orders and track positions directly from charts.
Eliseo Agas
[email protected]
________________________________________________________________________
Jaclyn Sales
Public Relations Coordinator
FXCM
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
[email protected]
