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FXCM MT4

  • #1
  • First Post: May 19, 2010 4:52pm May 19, 2010 4:52pm
This is undoubtedly the most bug ridden MT4 client out there. I suppose I should blame Boston Trade Tech as they provide the Metatrader solution, but FXCM chose them. I've woken up to find trades 100 pips beyond my stops (or targets). I've called them to close out positions and found trades I never entered in the FXCM account and of course not showing in MT4. I have trades in MT4 that won't close only to find out they're closed in the FXCM account, but not showing in MT. I get off quotes errors on ridiculous things, like pending orders and modifying stops and targets. Sometimes I have to try and modify them 5-10 times to get them to work. I spend more time on the phone trading than I do at the MT4 client it seems. On that note the people at their trading desk are rude as fuck, talking over you and not letting you tell them your problem. Really, it's a joke and it's a wonder I've pulled the profits that I have. They suck plain and simple and need to just ditch BTT and MT4 unless they can get someone who provides a technical solution rather than a technical problem before their name gets any worse than it already is.

That said I've done over 80% this month. I'm not bitching because I can't trade and not blaming anything on them other than the fact that their implementation of MT4 is the absolute worst I've ever seen. I hope someone from FXCM reads this and decides to get on the ball about this. For now... I'm telling my clients to go elsewhere.
Every time you use 'hopium' in a post, God kills a kitten.
  • #2
  • May 19, 2010 4:57pm May 19, 2010 4:57pm
You are making big profits (from their money). They dismissed you. Welcome to Forex.
  • #3
  • May 19, 2010 5:05pm May 19, 2010 5:05pm
Quoting Brb-Fraudin
You are making big profits (from their money). They dismissed you. Welcome to Forex.
Dude, I've been trading for 8 years, 6 full time, 2 as a money manager and 1 as a hedge fund trader. I've seen it all. This is the absolute worst. I am however a Metatrader baby and it is my platform of choice. Maybe that's my fault, but no... I know how it CAN be. This is honestly the worst I've seen since the first shoddy implementations of Metatrader 3, and come to think of it... they weren't this bad.
Every time you use 'hopium' in a post, God kills a kitten.
  • #4
  • May 20, 2010 9:50am May 20, 2010 9:50am
Quoting profxtrader
I hope someone from FXCM reads this and decides to get on the ball about this.
Hi profxtrader,

While the MT4 platform is very popular, there are limitations in how MT4 can integrate into a non dealing desk which is why we have been working on a better solution for those wanting to trade manually using an MT4 like setup, or want a more powerful automated trading platform.

The new platform is called Strategy Trader and I made a post about it on the FXCM discussion thread. Since the platform was designed by FXCM and built for NDD execution, there are no bridges or synchronizations. Here are some of the highlights and new features for the platform:

- Tick Charts
- Create any time frame chart
- No bridges
- Advanced backtesting with detailed strategy/trade analysis
- Access to all fxcm order types
- Uses C# for coding, easy to hookup and debug in visual studio
- Over 150 chart indicators, one of the most powerful charting package to be offered by FXCM

And here's a screenshot of the platform:

http://img689.imageshack.us/img689/9...tegytrader.jpg

The platform is currently in beta testing, and you're welcome to request a demo if you would like to join in on the beta testing: http://www.fxcm.com/lp-strategy-trader-beta.html

A couple things to note about Strategy Trader. The platform uses exchange based execution so hedging is not available and FIFO applies. The platform will work on hedging disabled accounts. MT4 will continue to be offered alongside the Strategy Trader platform.

Please let me know if you have any questions.

Jason
  • #5
  • May 20, 2010 10:16am May 20, 2010 10:16am
Quoting Jason Rogers
Hi profxtrader,

While the MT4 platform is very popular, there are limitations in how MT4 can integrate into a non dealing desk which is why we have been working on a better solution for those wanting to trade manually using an MT4 like setup, or want a more powerful automated trading platform.
Having developed a seamless bridge that works in exactly this fashion I know that this is not true. You guys just don't have it with BTT. I've had associations with George Popescu when he was building bridges for the now defunct Trades Swiss LLC. He hasn't gotten any better. He's just marketed himself well.
Every time you use 'hopium' in a post, God kills a kitten.
  • #6
  • May 20, 2010 10:48am May 20, 2010 10:48am
Quoting Jason Rogers
Hi profxtrader,

While the MT4 platform is very popular, there are limitations in how MT4 can integrate into a non dealing desk which is why we have been working on a better solution for those wanting to trade manually using an MT4 like setup, or want a more powerful automated trading platform....
Jason, does this new platform allow to trade Renko charts?
Thanks
  • #7
  • May 20, 2010 11:02am May 20, 2010 11:02am
Quoting profxtrader
Having developed a seamless bridge that works in exactly this fashion I know that this is not true. You guys just don't have it with BTT. I've had associations with George Popescu when he was building bridges for the now defunct Trades Swiss LLC. He hasn't gotten any better. He's just marketed himself well.
There are limitations, and the scale for which we are running it only adds to the complexity in trying to design around those limitations. The scalability of MT4 is limited and having a system designed explicitly for NDD execution was the driving force behind building Strategy Trader.
  • #8
  • May 20, 2010 11:15am May 20, 2010 11:15am
Quoting Darth Vader
Jason, does this new platform allow to trade Renko charts?
Thanks
Hi D.V.

Yes, Strategy Trader has Renko charts. Here's a screenshot:

http://img36.imageshack.us/img36/8462/renkochart.jpg


The charting is way more advanced in terms of chart options and indicators than what we currently have available. You can also create Kagi charts, Point and Figure charts, and Line Break charts.

-Jason
  • #9
  • May 20, 2010 11:16am May 20, 2010 11:16am
Quoting Jason Rogers
There are limitations, and the scale for which we are running it only adds to the complexity in trying to design around those limitations. The scalability of MT4 is limited and having a system designed explicitly for NDD execution was the driving force behind building Strategy Trader.
Well at the risk of being elusive, we should talk at a later date.

that said, I wish FXCM the best of luck in the Strategy trader platform. It's definitely a step in the right direction although all of those who grew up trading on MT4... are going to still want MT4. At least I do. If you've seen "Mr. Mom", MT4 is my woobie.
Every time you use 'hopium' in a post, God kills a kitten.
  • #10
  • May 20, 2010 1:05pm May 20, 2010 1:05pm
MT4 Rocks on....most brokers don't have a problem with it.....most do have a problem with the STP bridges they're using and FXCM is no exception to that rule. The bridge that FXCM uses (BTT(icks me off) can't handle any volume larger than 20 lot trade, anything larger than that, good luck closing out in a timely fashion.

FXCM could take lessons on Oanda's execution platform. 100 lot trades perform flawlessly....but then again Oanda is no MT4...

IMHO, MT4 is an excellent charting/trading platform. MT4 should create their own bridges...
In Charts We Trust!
  • #11
  • May 24, 2010 8:08am May 24, 2010 8:08am
Quoting Jason Rogers
Hi D.V.

Yes, Strategy Trader has Renko charts. Here's a screenshot:



The charting is way more advanced in terms of chart options and indicators than what we currently have available. You can also create Kagi charts, Point and Figure charts, and Line Break charts.

-Jason
Jason,

I've been testing ST during the weekend. I have questions:
Is it possible to show wicks on Renko charts?
Is it possible to fill bars?

thanks.
  • #12
  • Jun 3, 2010 5:47pm Jun 3, 2010 5:47pm
To be honest, FXCM are not in the business of software development. Why do they believe they can build a better product than those that are?
  • #13
  • Jun 6, 2010 5:16pm Jun 6, 2010 5:16pm
There is another outage. The third in 3 weeks. This time (as one of the last) it's the entire brokerage and not just MT4. You can go to their status page (fxstatus.com) and see what problems they're having now... the thing is not even all of the problems are listed there. There are millions more. Fucking BTT has mt4 even more screwed up than usual in the midst of their own problems. I'm moving my clients at the end of the month. This has been the most horrible brokerage experience I've ever encountered.

Attached Image (click to enlarge)
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Every time you use 'hopium' in a post, God kills a kitten.
  • #14
  • Jun 6, 2010 10:12pm Jun 6, 2010 10:12pm
They use the made for bucketshops Boston Bridge? Figures
  • #15
  • Jun 7, 2010 12:41am Jun 7, 2010 12:41am
Quoting oakmonster
They use the made for bucketshops Boston Bridge? Figures
Exactly, the largest US brokerage chooses the shittiest bridge provider. It just doesn't compute. I alone could have done what BTT has failed to accomplish this weekend.
Every time you use 'hopium' in a post, God kills a kitten.
  • #16
  • Jun 7, 2010 9:48am Jun 7, 2010 9:48am
Quoting profxtrader
There is another outage. The third in 3 weeks. This time (as one of the last) it's the entire brokerage and not just MT4. You can go to their status page (fxstatus.com) and see what problems they're having now... the thing is not even all of the problems are listed there. There are millions more. Fucking BTT has mt4 even more screwed up than usual in the midst of their own problems. I'm moving my clients at the end of the month. This has been the most horrible brokerage experience I've ever encountered.
The technical issue affected the updating of the marketscope charts and micro accounts. MT4 accounts were operating without issue.

-Jason
  • #17
  • Jun 7, 2010 10:03am Jun 7, 2010 10:03am
Quoting Jason Rogers
The technical issue affected the updating of the marketscope charts and micro accounts. MT4 accounts were operating without issue.

-Jason
I'm afraid that they weren't. At the 5:15 open there was nothing, but maybe this was due to no pricing. I wasn't even getting it on the esignal FXCM feed. I have a chat transcript from one of your support agents saying that MT4 was not fully functional. My point isn't to start an argument in this thread. I'm just posting my experiences. I appreciate you posting here however. Maybe you can persuade the powers that be in FXCM to resolve the issues.

That said there still isn't history data for all pairs since you've added the fx extension to the currency pairs over the weekend. It's hard to draw trendlines on the USDSEK, CADCHF and others with just one bar.
Every time you use 'hopium' in a post, God kills a kitten.
  • #18
  • Jun 7, 2010 10:39am Jun 7, 2010 10:39am
Quoting RichyF
To be honest, FXCM are not in the business of software development. Why do they believe they can build a better product than those that are?
The FX Trading Station II was designed by FXCM and voted Best Retail FX Platform by FX Week in 2009. With the Strategy Trader platform, we believe it will be a better product because it has features that MT4 and even MT5 lacks and the platform was built for NDD execution. Please feel free to evaluate and compare with a demo http://www.fxcm.com/lp-strategy-trader-beta.html .
  • #19
  • Jun 7, 2010 12:02pm Jun 7, 2010 12:02pm
Hmm... I heard that Boston Bridge was not that good as they say it is, but I couldn't actually imagine it is THAT poor...
  • #20
  • Jun 7, 2010 2:46pm Jun 7, 2010 2:46pm
Quoting Jason Rogers
The FX Trading Station II was designed by FXCM and voted Best Retail FX Platform by FX Week in 2009. With the Strategy Trader platform, we believe it will be a better product because it has features that MT4 and even MT5 lacks and the platform was built for NDD execution. Please feel free to evaluate and compare with a demo http://www.fxcm.com/lp-strategy-trader-beta.html .
I will actually agree with you here. FX Trading Station II is a solid product. Like I said though, I like MT and will continue to seek out brokerages that offer it. In the end it's non specific (to a brokerage) trading platform, and I can learn it and nothing else, rather than learning a new platform if I decide to move brokerages. But like I said earlier, I believe that Strategy Trader is a definite step in the right direction for those not confined to the Metatrader 4 (or 5) trading platform.
Every time you use 'hopium' in a post, God kills a kitten.
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