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Virtual Dealer Plugin - Brokers Please read

  • #21
  • Sep 12, 2011 3:47am Sep 12, 2011 3:47am
Very basically "Sniping" is the exploitation of the delay in feeds between brokers.
Broker A price changes 0.5 to 1 seconds before Broker B on average.
You trade broker B based on Broker A pricing and make little profits very often, because if you can open a trade on Broker B before the price updates to Broker A price, you are predicting the future purely because Broker B has slower systems or processing servers.
  • #22
  • Sep 28, 2011 11:58pm Sep 28, 2011 11:58pm
Quoting EricF
ATC Brokers Response:

"Yes there is no virtual dealer plugin in our MT4 platform we are a non-dealing desk environment."
hi Eric,

so did you start trading with ATC. Im actually quite interested in switching over to them, just wanted to see if you've had good results.

I like there MT4 plugin for one-click and that they allow hedging for US clients. wondering if there solution for hedging in the US is even legal?

regards
  • #23
  • Oct 1, 2011 8:03am Oct 1, 2011 8:03am
hi WhoDunIt,
I think that we need ECN/DMA (direct market access) brokers and not STP brokers. The STP broker might have different price fields with different liquidity (under the broker's control) and we don't know which one is serving at the moment? I am searching desperately for an really honest to us broker too.
good luck in your trading,
golfking


Quoting WhoDunIt
Hi Eric

Much appreciated, I can tell you that at this stage I have tried both ActivTrades and Windsor Brokers and both brokers started great, and I made in excess of 2% a day for the first three days, and then something was changed?
I am of the opinion that they delayed my signals so that my scalping became unprofitable.
Windsor do not allow Sniping, I do not Snipe, I scalp. They insist that I can prove that I do not Snipe by giving them a copy of my EA, there is no way that I will ever do this, so they have delayed my pricing.

Pity really as...
  • #24
  • Oct 1, 2011 8:50am Oct 1, 2011 8:50am
I am currently in negotiation and discussion with Boston to open my own brokerage.
I'm tired of being screwed by these idiots and it turns out I have the funds to open my own STP brokerage.

If all goes well we should be up and running by January 2012.

Cheers
Wayne
  • #25
  • Oct 1, 2011 9:18am Oct 1, 2011 9:18am
is there a way to contact you directly? had the same plans.

My life is based on FGF: family, golf, forex

golfking
  • #26
  • Oct 1, 2011 9:24am Oct 1, 2011 9:24am
Quoting WhoDunIt
I am currently in negotiation and discussion with Boston to open my own brokerage.
I'm tired of being screwed by these idiots and it turns out I have the funds to open my own STP brokerage.

If all goes well we should be up and running by January 2012.

Cheers
Wayne
Oh man, thats cool. congrats. hope it goes through for you.

keep us posted
  • #27
  • Oct 1, 2011 10:57am Oct 1, 2011 10:57am
Quoting WhoDunIt
I am currently in negotiation and discussion with Boston to open my own brokerage.
I'm tired of being screwed by these idiots and it turns out I have the funds to open my own STP brokerage.

If all goes well we should be up and running by January 2012.

Cheers
Wayne
whats it take money wise to open your own brokerage?
  • #28
  • Oct 2, 2011 6:16am Oct 2, 2011 6:16am
Quoting Hedge212
whats it take money wise to open your own brokerage?
At this stage, it looks like I can get it done for around $250k?
Waiting for final figures from Boston and licensing information from Belize?

Cheers
Wayne
  • #29
  • Oct 3, 2011 3:07am Oct 3, 2011 3:07am
Quoting WhoDunIt
At this stage, it looks like I can get it done for around $250k?
Waiting for final figures from Boston and licensing information from Belize?

Cheers
Wayne
You can trade directly with the liquidity providers starting with $ 50.000.

Regards,

Josef
  • #30
  • Oct 4, 2011 7:43am Oct 4, 2011 7:43am
Quoting josef
You can trade directly with the liquidity providers starting with $ 50.000.

Regards,

Josef
PLEASE PLEASE share more info on this, I spoke to bloomberg they are talking about millions needed
  • #31
  • Oct 4, 2011 7:44am Oct 4, 2011 7:44am
Quoting WhoDunIt
At this stage, it looks like I can get it done for around $250k?
Waiting for final figures from Boston and licensing information from Belize?

Cheers
Wayne
250kis not the figure boston is quoting now, its way way less
  • #32
  • Edited 12:57pm Oct 4, 2011 11:51am | Edited 12:57pm
Quoting WhoDunIt
At this stage, it looks like I can get it done for around $250k?
Waiting for final figures from Boston and licensing information from Belize?

Cheers
Wayne
My post may be off-point...if so, my apologies.

Speaking of Belize...have you ever heard of these people:
http://belizetaxhaven.com

It looks like for $1190 practically anyone can set up an offshore International Business Company (IBC) and trade whatever market you want...including forex! According to their website, you can even open a stateside brokerage account in the name of your IBC...the broker will not know your name...only the IBC name. Is this correct?

How does one go about doing "due diligence" on this person short of hiring a private investigator or lawyer?

Thanks for any info...when you mentioned possibly opening your own brokerage and mentioned Belize, my curiosity was piqued. In this day and age, who can anyone trust?
  • #33
  • Oct 4, 2011 12:42pm Oct 4, 2011 12:42pm
These people seem to be better established, but they charge $2995 whereas the other fellow wanted $1190. Both IBC formation offerings include an offshore brokerage account (which will have to be funded with a minimum of $200).

I don't have a "company" per se...I'm just looking for a way to trade and to hopefully turn a profit! The IBC way seems to be the best way to try if what I'm reading is true!

http://www.confidentialbanking.com/brokerage.html
  • #34
  • Edited 5:02am Oct 6, 2011 4:47am | Edited 5:02am
Quoting WhoDunIt
Good Morning

Is there a Broker/Dealer that trades MT4 that can honestly guarantee that they do not use the Virtual Dealer Plugin?

1) No VDP.
2) Allow Scalping.
3) Does not care how much money I make.
4) Pays out withdrawals timeously.

Lets start with that.

Many Thanks
WhoDunIt

ps: Please folks, I am looking for Brokers that want to prove their honesty, I am NOT looking to start another thread on the evils of VDP.
ALL brokers use virtual dealer, how are you supposed to deal to the clients without virtual dealer? Unless of course you guys want to go back to using humans.

Even if a broker is ECN/STP the trade still has to be connected to you somehow.

The reason there is so much controversy over virtual dealer is because somebody posted a screen shot of virtual dealer setup unfairly i.e. allowing negative slippage only and long delays.

If you think about it logically, virtual dealer needs to allow some slippage so that you get filled, virtual dealer needs to provide some delay in order for liquidity to be matched up, especially on a MM broker.

However the NFA should make brokers disclose their virtual dealer settings and let us decide if we accept them. Failing that I believe there is an EA that will monitor price feeds and best guess the virtual dealer settings, i think it's called forex sentinal or something like that.
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  • #35
  • Oct 6, 2011 7:56am Oct 6, 2011 7:56am
Quoting leerees
ALL brokers use virtual dealer, how are you supposed to deal to the clients without virtual dealer? Unless of course you guys want to go back to using humans.

Even if a broker is ECN/STP the trade still has to be connected to you somehow.

The reason there is so much controversy over virtual dealer is because somebody posted a screen shot of virtual dealer setup unfairly i.e. allowing negative slippage only and long delays.

If you think about it logically, virtual dealer needs to allow some slippage so that you get filled, virtual dealer...
lets just say within 5 years the us prisons will have 100+ people in them related to forex fraud
  • #36
  • Dec 18, 2011 9:13am Dec 18, 2011 9:13am
there is no point of asking a broker if he uses the plugin because he will never ever say "Yes we are using the plugin" if he does he must be the dumbest fool ever to walk this earth, the same would be if the police would ask the bank robber, "did you rob the bank?" if he say Yes sure I robbed the bank, police, ok, then we lock you up for 10 years, bankrobber Yahoo! never going to happend
Bulls are stupid Animals!especially when Im short!
  • #37
  • Dec 18, 2011 9:16am Dec 18, 2011 9:16am
Quoting leerees
ALL brokers use virtual dealer, how are you supposed to deal to the clients without virtual dealer? Unless of course you guys want to go back to using humans.

Even if a broker is ECN/STP the trade still has to be connected to you somehow.

The reason there is so much controversy over virtual dealer is because somebody posted a screen shot of virtual dealer setup unfairly i.e. allowing negative slippage only and long delays.

If you think about it logically, virtual dealer needs to allow some slippage so that you get filled, virtual dealer needs...
you made my day
Bulls are stupid Animals!especially when Im short!
  • #38
  • Dec 18, 2011 10:03am Dec 18, 2011 10:03am
Quoting roughtrader
there is no point of asking a broker if he uses the plugin because he will never ever say "Yes we are using the plugin" if he does he must be the dumbest fool ever to walk this earth, the same would be if the police would ask the bank robber, "did you rob the bank?" if he say Yes sure I robbed the bank, police, ok, then we lock you up for 10 years, bankrobber Yahoo! never going to happend
Your comments reinforce my sentiment exactly, no dealer has come here and admited to not using a Plugin of sorts.
Hence, one can assume that there are no dealers that do not use a plugin to assist in their own financial gains against the traders?
  • #39
  • Dec 18, 2011 11:53am Dec 18, 2011 11:53am
Quoting roughtrader
there is no point of asking a broker if he uses the plugin because he will never ever say "Yes we are using the plugin" if he does he must be the dumbest fool ever to walk this earth, the same would be if the police would ask the bank robber, "did you rob the bank?" if he say Yes sure I robbed the bank, police, ok, then we lock you up for 10 years, bankrobber Yahoo! never going to happend
This isn't always true. My girlfriend is a lawyer, and one of her favourite stories is that of a court trial against a bank robber:

lawyer to the policeman: can you identify without any dubt that this guy is the bank robber?

the policeman: yes!

the robber: how can you be so sure, if I was wearing an helmet?


  • #40
  • Jan 4, 2012 10:07pm Jan 4, 2012 10:07pm
So if I understand you guys correctly the MT4 platform is the problem as it allows this particular MT4 plugin and a dealer who provides different trading software is ok?
Have a nice day
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