Processing requests/responses directly with a broker without terminal

Hi Guys,

I've come across a site that claims to be able to copy trades from a master account to slave accounts for signal providers. This is all normal, however they are able to do it by Processing the requests/responses directly with the broker without using terminal.

I am very interested on using this capability of Processing requests/responses directly with the broker and skipping the use of the terminal to have better performance with a project that I have in mind.

Is anyone aware of how this can be completed for MT4 brokers, an existing API that does this (MQ does not give this out)?

An example of this is a signal copy service (http://www.liveforextrading.info/)

Much appreciated.

Miike

Unfortunately for people like you, MetaQuotes is doing all they can to prevent* such a possibility.

Such can be done only by hacking their protocol, which they consider illegal, and they have already sued not long ago a company that has offered products based on such direct protocol. So, I'd be wary of any service claiming using a direct protocol if it cannot show you an agreement between it and MetaQuotes to have MQ's permission to do so..

*If you search around you may come across the info that they often make changes to the protocol, and also that the protocol differs from broker to broker (or bridge).

They haven't made it easy that's forsure!

It's interesting that they haven't opened up an API as it would boost the usage of the platform.


Cheers,
Miike

Undoubtedly so for the platform itself; however it would also take "market share" away from MQ.

Not necessarily as they would be able to charge through many different ways.

E.g.
1. Charge for API access per use
2. Charge for API access per annum
3. Charge for trades made through API use

Many ways to expand commercially with this!

Miike