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Using MT4 to interface with other applications instead of make trades?

  • #1
  • First Post: Apr 5, 2008 4:45pm Apr 5, 2008 4:45pm
Hi,

I've been using MT4 with IBFX but after reading the reviews I am having second thoughts about continuing with IBFX.

The review by Chuka A, specifically, has me concerned:

Quote
Where do I start, the markets are trending nicely, I enter a trade and immediatly, the market reverses and spikes to my SL. My EA's were making about 30 - 40% profits for me a monh but since february, I find that they are spiked to their SL constantly. I check other brokers and accounts I monitor and those spikes dont exist. I have lost several thousands trading with them and will be taking my business else where. Even North Finance was much better.

I was attracted to IBFX because it uses MT4. I could have a script enter a stop-order when the stop is reached but this leaves me vulnerable to computer problems, slippage, and so on.

So I'm considering alternatives. Does anyone use MT4 to interface with other platforms?

If not, has anyone found a way to read exchange rate feeds in using a custom-made application? At this point I would feel more comfortable using a demo feed and my own application to control trading through Oanda than I do with IBFX.

Interested in hearing feedback on this.

Regards,

Forexwindo
  • #2
  • Apr 5, 2008 6:04pm Apr 5, 2008 6:04pm
I have been trading for 3 years now with Interbank FX live and had never encountered such spike problem. I trade 14 currencies almost all the time and i need to see that spike mentioned. Anyways if that claim is legitimate, he should have call IBFX and resolve the issue with them. I found them cordial and accomodating. In fact i have encountered a spike but that was with north finance and the currency was AUDJPY and that was January of this year it wipe out the account, fortunately it was only a demo. IMHO Interbank fx is a bit better than the rest.
  • #3
  • Apr 6, 2008 2:38am Apr 6, 2008 2:38am
Well, there is always the "Virtual Dealer Plugin" issue as well, but it seems some people do not think that it is a serious problem.
  • #4
  • Apr 6, 2008 2:56am Apr 6, 2008 2:56am
many non mt4 brokers have API's which allow you to create custom applications that can interface with their trading platform. Creating an application is not that difficult if you are familiar with programming for windows. If you are not, then hire a professional but be prepared to have deep pockets.
  • #5
  • Apr 6, 2008 2:59am Apr 6, 2008 2:59am
I've never seen any spikes, but I've seen all sorts of other BS.
The breaking of a wave cannot explain the whole sea.
  • #6
  • Last Post: Apr 6, 2008 4:32pm Apr 6, 2008 4:32pm
Depending on what you want to do with other brokers, yes you can bridge them. We do it with MT4 quite often. We use MT4 charts , then send a trade to MBTrading for instance. It does require advanced programming skills, but not that hard if you know what you are doing..
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