ECN Broker - MT4

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Old Apr 15, 2011, 3:58pm   #1
Joined Jan 2009
ECN Broker - MT4

Well after searching and trying every Demo on the market I have found what I was looking for.

Firtsly a message to any Forum Moderator :
I'm not selling I'm a Home Retail Trader searching for a broker and just sharing with the community.

Shopping List:
ECN Broker
Tight Spreads
Low Commisions
Regulated
Broker where I'm the small guy that has Larger Account Traders trading.
MT4/5

I tried FXCM, Smart Live Markets, Hot Forex & Alpari plus more that I forget right now but if you want my view on a broker ask away.

Today I found Fair Trading Technology who provide the MT4 bridge to Dukascopy who I think we all regard as the best. You get a live account to there JFOREX platform which is web based and I don't like it but your account is linked to the FTT MT4 platform which is Dukascopy.

Thses links explian it better than me:
http://www.fairtradingtech.com/t3-br...way-execution/
http://www.fairtradingtech.com/dukascopy-and-mt4/

Just traded a few trades to see how it all works but got excited so I'm posting now.
FTT does not hold your money they just provide the Technology to trade MT4 on Dukascopy.

Dukascopy are not promoting this and in a email to me they say " Fair Trading Technology is an MT4 provider that has access to our trading system. Your account is with Dukascopy and all funds are held in your Jforex account but you can trade on either. This is a third party software so we are not able to promote this service "

One thing I noticed that if I open a trade in JFOREX it instantly opens in MT4 but if I close in JFOREX it opens another trade in MT4 rather than close. But I will only be opening in MT4 anyway.

But with JFOREX in the background you can see Market Depth plus get good news feeds.

Just thought I would share this as I had not seen this before.

Min Deposit $1,000 but I also asked if I could trade in GBP rather than USD and they said
yes.

Going to trade the Demo over next week
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Old Apr 16, 2011, 4:41am   #2
Als
Joined Jul 2010
Re: ECN Broker - MT4

Divisa ?

demo looks good

i'd be glad to get your opinion
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Old Apr 16, 2011, 7:10am   #3
 
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Re: ECN Broker - MT4

Tell me about your experience with ********.......up to date info..
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Old Apr 16, 2011, 12:47pm   #4
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread Straight Through Processing STP/ECN Broker
Margin leverage from 1:1 up to 1:500
******** MetaTrader 4 Terminal
Scalping and Expert Advisors Allowed
Bonuses on new accounts and existing accounts
Spreads: from 0.8 pips
No Commission
Free Fast Deposits/Withdrawal by Debit Card
Regulated

All seems good yeah

BUT

On further investigation the office is located at an office blocked with other business but has three companies in one office. Regulated in Mauritius and I got confirmation that they are regulated.

Claim to be ECN but when you look deeper is just STP and execution for an STP platform can be slow.

Scalpers welcome but again look deeper and you'll find you have to watch a trade as you can't put stop loss to close.

Being based in Mauritius and only able to trade in EURO or USD put me off but you'll find traders who love the site. As I always say DEMO before LIVE trading.

One thing to remember to set up a MT4 platform and set yourself up as a Forex Trading Company is easy and cheap. Small companies are all over the internet on MT4 be sure you trade with a good company with a solid trading base.
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Old Apr 16, 2011, 12:53pm   #5
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by Als View Post
Divisa ?

demo looks good

i'd be glad to get your opinion
Yep that's a new one on me lol

I'm in the UK so I want:
Trade in GBP
FSA Regulated (Or a big enough like Dukascopy)

There are quite a few New Zealand and Australian based MT4 companies but then your charts are in there Time Zone not yours and you can't change Time Zones.

All companies from that region I'm not interested in

One thing to remember to set up a MT4 platform and set yourself up as a Forex Trading Company is easy and cheap. Small companies are all over the internet on MT4 be sure you trade with a good company with a solid trading base.
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Old Apr 26, 2011, 11:24am   #6
Joined May 2009
Re: ECN Broker - MT4

JD- Can you open/close all orders from MT4? i.e if you have a buy stop order with a TP will it instantly execute?

Do you have any latency figures? If you request a price does it instantly fill?

Edit: Got a demo a/c so will have a look and see how it goes. Been looking for an MT4 bridge for a long time!

Last edited by Dubai; Apr 26, 2011 at 11:29am.
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Old Apr 26, 2011, 11:36am   #7
 
shadowninja's Avatar
Joined Jul 2007
Re: ECN Broker - MT4

Quote:
Originally Posted by JDTRADER View Post
BUT

On further investigation the office is located at an office blocked with other business but has three companies in one office. Regulated in Mauritius and I got confirmation that they are regulated.

Claim to be ECN but when you look deeper is just STP and execution for an STP platform can be slow.

Scalpers welcome but again look deeper and you'll find you have to watch a trade as you can't put stop loss to close.

Being based in Mauritius and only able to trade in EURO or USD put me off but you'll find traders who love the site. As I always say DEMO before LIVE trading.

One thing to remember to set up a MT4 platform and set yourself up as a Forex Trading Company is easy and cheap. Small companies are all over the internet on MT4 be sure you trade with a good company with a solid trading base.
When I read your first post I did wonder about these things. Also demo accounts don't demonstrate how quickly you'd get filled. No point having a tight spread if the guy on the other end likes to have a wank before clicking the accept button.
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Old Apr 27, 2011, 3:17pm   #8
Joined Mar 2011
Re: ECN Broker - MT4

hi jd, how did the demo go with fair trade tech ? i am keen to get my EA on dukas.
cheers.
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Old Apr 27, 2011, 3:38pm   #9
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by saj1011 View Post
hi jd, how did the demo go with fair trade tech ? i am keen to get my EA on dukas.
cheers.
It did not work well plus you have to pay commission to both FTT and Dukascopy.

If you want MT4 don't use the bridge to Dukascopy.

JFOREX is the platform on Dukascopy, I found the platform good a bit like MT4 with EA type programs but trying to follow P&L with commissions on each trade was confusing.

Suppose I'm used to MT4
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Old Apr 27, 2011, 3:40pm   #10
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by Dubai View Post
JD- Can you open/close all orders from MT4? i.e if you have a buy stop order with a TP will it instantly execute?

Do you have any latency figures? If you request a price does it instantly fill?

Edit: Got a demo a/c so will have a look and see how it goes. Been looking for an MT4 bridge for a long time!
MT4 - wish there was a Close All Trades button but you can get EA's but not as fast as a one click to close all
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Old Apr 27, 2011, 3:43pm   #11
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by shadowninja View Post
No point having a tight spread if the guy on the other end likes to have a wank before clicking the accept button.
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Old Apr 27, 2011, 6:19pm   #12
Joined Jan 2009
Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by Dubai View Post
JD- Can you open/close all orders from MT4? i.e if you have a buy stop order with a TP will it instantly execute?!
This EA also adds SL,TP tagets on every trade
Attached Files
File Type: mq4 luktom visual order editor.mq4 (13.9 KB, 235 views)
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Old Apr 28, 2011, 11:04am   #13
 
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Joined Apr 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by JDTRADER View Post
It did not work well plus you have to pay commission to both FTT and Dukascopy.

If you want MT4 don't use the bridge to Dukascopy.

JFOREX is the platform on Dukascopy, I found the platform good a bit like MT4 with EA type programs but trying to follow P&L with commissions on each trade was confusing.

Suppose I'm used to MT4
In what way did it not work well? Can you specify?
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Old Apr 28, 2011, 5:29pm   #14
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Re: ECN Broker - MT4

JDTRADER started this thread
Quote:
Originally Posted by SnoopT View Post
In what way did it not work well? Can you specify?
The FTT MT4 worked fine but the commission you see on the MT4 is just for FTT for use of the MT4 Bridge. The FTT MT4 is linked to JFOREX which opens and close trades and after a number of trades the balance on Dukascopy was different to FTT because you don't see the commission for Dukascopy on the MT4.

When I closed half of a trade the system was flawed as it just opened another trade on JFOREX, my long where I took half profits and let the rest run but in fact on Dukascopy JFOREX I was now short half.

Worked fine opening and closing full lots but JFOREX did not understand or there was a tech flaw on partial closing.

Plus don't see the point paying double commission just to use MT4 on ECN where other brokers give this option.

Traded the JFOREX on its own which works very similar to MT4, great spreads (Seen EUR/USD go zero spread) But its for a bigger balance than I got. Plus the commission, margin was confusing.

My situation has changed as I'm losing my job 9th May so I'm going live on SLM
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Old Apr 29, 2011, 9:05am   #15
 
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Joined Apr 2011
Re: ECN Broker - MT4

Quote:
Originally Posted by JDTRADER View Post
The FTT MT4 worked fine but the commission you see on the MT4 is just for FTT for use of the MT4 Bridge. The FTT MT4 is linked to JFOREX which opens and close trades and after a number of trades the balance on Dukascopy was different to FTT because you don't see the commission for Dukascopy on the MT4.
Where did you not see the full commission charged?

Quote:
When I closed half of a trade the system was flawed as it just opened another trade on JFOREX, my long where I took half profits and let the rest run but in fact on Dukascopy JFOREX I was now short half.
Did you have multiple orders in Metatrader 4 (besides the one you mentioned here) open at the time that you closed half of the long position?

This is a common misconception about there being an 'error' in the system. In actuality it's the difference between an order based system (Metatrader) and a position based system (JForex). I made a video to describe this to a client once so please take a look and you'll most likely find the answers you're looking for.



Quote:
Worked fine opening and closing full lots but JFOREX did not understand or there was a tech flaw on partial closing.
Again, please see the video above. 1 1 lot long + a close (short on the position based system) is flat on both.

Quote:
Plus don't see the point paying double commission just to use MT4 on ECN where other brokers give this option.
Dukascopy themselves do not offer the Metatrader platform for live trading. It's a business for us and therefore we have to make money as well. If Metatrader is not necessary for your day to day trading, then JForex is a great platform as well.

Quote:
Traded the JFOREX on its own which works very similar to MT4, great spreads (Seen EUR/USD go zero spread) But its for a bigger balance than I got. Plus the commission, margin was confusing.

My situation has changed as I'm losing my job 9th May so I'm going live on SLM
I hope I've answered a few questions for you and if you have any more, please don't hesitate to ask.
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