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MT4 moves to ECN (2 unique brokers)

  • #41
  • Jun 12, 2009 7:46am Jun 12, 2009 7:46am
Quoting JoeyG
Hey aquaart, how's it going these days? Regarding MT4 it seems to be ok but regarding MT5...well, going by your other thread, that seems to be a different story! http://www.forexfactory.com/showthre...=174626&page=3 Is there anything positive at all you can tell us about the MetaSTEALERTrader 5 as you call it?
Yes more time frames (21 in total), market depth analysis (which is strange because banks do not allow other institutions to know what volume they are trading) but it is there (must go on trade number instead of volume which will become increasingly deceptive the more us smaller traders get involved), and if you like single position trading it will be easier to manage you trades. In other words they have made managment and analysis easier at the expense of trader profitability.

Quoting JoeyG
The reason I ask you is because as I told you before, ACM told me theys about to add MT4 to their platforms. When I knew MT5 was about to come out I could not help but wonder why they did not go for the shinny new and improved one? Am I correct to understand from your other thread that it all has to do with the possibilities to do hedging?? Is that correct?
Cannot really answer why ACM didn't, but it might be because MT5 is just being released, and every new platform has its bugs.... just like vista versus XP. Vista had a truck load of bugs when it first came out. MT5 could be the same. Especially if they have tried to make it more vista compatible.

Quoting JoeyG
Do you believe that we will NOT going to see European brokers add/upgrade to MT5 because of that?
Maybe, maybe not. The EURO in 9 years of actual use has gone from 4th or 5th most traded currency to the 2nd most. The establishment of the EURO was so that the market could compete with the might of the USA market. It is 2/3 of the way there in just 9 years. If a currency is going to be popular, an increase in its trade ability is essential, hence I could not imagine EURO based markets to be keen to do what the US have done. It would take away from its initial purpose.

Quote
If true then the MT4's days may be coming to an end, I would imagine that all regulatory bodies will eventually fall in line with the NFA, don't you?
If it is true that is the case... If it is not then it is not the case...


If anyone would like to find out why I believe the MT5 (renamed as MetaSTEALERTrader 5) is a downgrade from MT4, follow this link http://www.forexfactory.com/showthread.php?t=174626. You will see why Joey asked questions about MT5 in this post.
  • #42
  • Jun 12, 2009 8:14am Jun 12, 2009 8:14am
arquaart, insightful and thoughtful answers regarding the two MTs. As you seem to be the only one to have actually severely tested them both, you thoughts are valuable. It would seem that overall, MT5 has a long way to go before it can be called a trully deserved successor to the MT4. I would however like to hear your thoughts on "Hedging-european brokers will keep MT4"
  • #43
  • Jun 12, 2009 8:51am Jun 12, 2009 8:51am
Quoting JoeyG
arquaart, insightful and thoughtful answers regarding the two MTs. As you seem to be the only one to have actually severely tested them both, you thoughts are valuable. It would seem that overall, MT5 has a long way to go before it can be called a trully deserved successor to the MT4. I would however like to hear your thoughts on "Hedging-european brokers will keep MT4"
I really don't know whether European law makers will follow suit... But because many newbies that were once trading with USA brokers and were nedgers, there might be a move for "protection" in the European markets as well. As bad nedgers and not only counter trend traders will go there.

I suppose it all depends on who is pulling the strings and why they are.

But if you are interested in why JoeyG is asking me questions about why I believe MT5 (hereby renamed MetaSTEALERTrader 5) is downgrade from MT4 follow this link - http://www.forexfactory.com/showthread.php?t=174626
  • #44
  • Apr 4, 2010 4:15am Apr 4, 2010 4:15am
So how is gomarkets after almost 1 year of changing to ecn feed?
is the spread stable over time?
  • #45
  • Apr 4, 2010 7:22am Apr 4, 2010 7:22am
Quoting eagle4x
The attached file should provide you some of the info. you are looking for - it was written by TheRumpledOne, from his web-site at kreslik.com
Yeah TRO is (or was) an IB for MB Trading.

There are better alternatives such as capitalforexpro & prospreads, but neither yet offer MT4.
  • #46
  • Mar 7, 2011 4:50pm Mar 7, 2011 4:50pm
Quoting aquaart
Hi folks,

I heard that MBTrading are moving into an MT4 platform that offers ECN based spreads. My broker GoMarkets is presently converting from MT4 fixed spreads to MT4 ECN.

For those that have used ECN and fixed spreads,
What are the benefits of being ECN?
How does ECN affect your trading?
How can you determine transparency in the market with ECN quotes?
[font=&quot]Does anyone know of MT4 brokers other than GoMarkets...
No need to actually use an ECN at all if your able to see truly transparent pricing. Only trade when your broker is competitive. I've been using an indicator that imports GLOBAL liquidity into an MT4 chart. I'm able to visually see resistance points as they build and support levels as they withstand downward pressure.

Just use an independent feed to verify your pricing at your current broker!
  • #47
  • Mar 7, 2011 5:15pm Mar 7, 2011 5:15pm
Quoting Rockshore
I've been using an indicator that imports GLOBAL liquidity into an MT4 chart.
You do realize that actual volume isn't reported by any global FX venue? I hope you didn't pay money for this indicator..

Also, why on earth are you quoting and replying to a post from over 2 years ago?
  • #48
  • Mar 7, 2011 5:26pm Mar 7, 2011 5:26pm
Quoting Trader KGB
You do realize that actual volume isn't reported by any global FX venue? I hope you didn't pay money for this indicator..

Also, why on earth are you quoting and replying to a post from over 2 years ago?
You said what?? volumes aren't reported? lol... gosh in all my years trading 5M lots I'm always able to see the quantity available in a full book. So your statement is absurd sorry. OrderBooks are just that.. levels of prices and the associated quantities.

As far as over two years ago... you still read the comment right? Sorry to burst your bubble. But ummm. I've built data feeds before, I've built arbitrage systems before.. in 20+ years... orderbooks still contain price and volume.. its the very premise of them.
  • #49
  • Mar 7, 2011 5:29pm Mar 7, 2011 5:29pm
Quoting Trader KGB
You do realize that actual volume isn't reported by any global FX venue? I hope you didn't pay money for this indicator..

Also, why on earth are you quoting and replying to a post from over 2 years ago?
You should opt for Direct Market Access... and rid yourself of over priced under performing brokers! E-forex 2010 issue... an article of Direct Market Access.. it would be good reading.
  • #50
  • Mar 7, 2011 5:33pm Mar 7, 2011 5:33pm
Quoting Rockshore
Just use an independent feed to verify your pricing at your current broker!
Since many retail FX accounts amount to trading a market made by your broker (who may claim 'trade the biggest market in the world'), or a white label collection of small brokers, and each broker may or may not be messing with the order flow timing from their clients, can one reasonably expect prices from different MM brokers to be identical to the 5th decimal point at any specific instant?

Max
  • #51
  • Mar 7, 2011 5:35pm Mar 7, 2011 5:35pm
Quoting Rockshore
You said what?? volumes aren't reported? lol...
Trade volumes aren't reported. Displayed liquidity in an FX orderbook is a complete mirage, except for executable price venues like EBS & Hotspot.
  • #52
  • Mar 7, 2011 5:41pm Mar 7, 2011 5:41pm
Quoting Trader KGB
Trade volumes aren't reported. Displayed liquidity in an FX orderbook is a complete mirage, except for executable price venues like EBS & Hotspot.


Yes I'm sure you have. And so you're here digging up threads from 2 years ago to pitch your lame MT4 indicator. Would like a cart to load up all those bull droppings?
lol.. hotspot is the smaller venue by the way.. when i say volumes I'm talking about the venues such as hotspot, currenex, reuters, ebs, integral the volumes are all there for me. obtain the data and analyze it if you know how to. So if you have the tech to completely aggregate all the global networks as I stated, you can build (after redundancy reduction) a complete fx orderbook regardless of the market being disjointed.

Your obviously new to the market, or maybe stuck in the retail sector.. my apologies.
  • #53
  • Last Post: Mar 8, 2011 10:51pm Mar 8, 2011 10:51pm
Quoting Rockshore
Your obviously new to the market, or maybe stuck in the retail sector.. my apologies.
Says the guy pitching an MT4 indicator on a 2 year old thread. MT4 is a retail platform in case you didn't know. Business running a little slow?
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