MT4 Spread Betting

[Doomberg]

Wouldn't it be awesome if companies like IG offered this service, i am aware that SML have MT4 available but it seems there are too many horror stories, prices being rejected 5 or 6 times before a trade is opened as standard and also slippage of up to 8 points even out of news times, this info alone will stop me from using them. Are there any other SB companies that have a great track record and offer MT4? I did speak to GFT last night and that said that currently their MT4 is only for Forex, however they are trying to push it through now and may soon be available for CFD's and also SB.

Are there any SB MT4 Companies out there? If there are, whats your experiences?

Thanks

 

[Mata Nui]

As far as i know SLM are the first and only ones to use it. To be honest i think the technicals of getting it working will prove to be SLMs downfall. I do a few custom indicators and play about with EAs and it is evident that MT4 is just not designed to work with a spread bet wrapper (ie betting £pp instead of lots). I know it is also used for futures but i think the main use by a long way is fx while ninjatrader (similar in terms of flexibility) is used mostly for futures.

I would also like to see more SBs use more generic platforms like MT4 or NinjaTrader but i think SLM is the only one to try it.

On a side note though i read on the Capital Spreads thread that they would be having the ability to create custom indicators on the new charts and i believe CMC now have trading off the charts so perhaps things are moving in the right direction.

 

[andycon]

I use SLM on a live account, and get no problems at all, had about 5 re-quotes in 8 months. Also have FXCM demo MT4 and price matches perfectly. Don't understand the unhappy people on the SLM thread.

 

[Doomberg]

Lol i'm really confused now, people are saying that they have had 7 re-quotes in 4 mins and 8 point slippage in a normal quiet market?

 

[Ross Spur]

Lol i'm really confused now, people are saying that they have had 7 re-quotes in 4 mins and 8 point slippage in a normal quiet market?

Slippage not a problem, but you can get constant requotes on things like US30.Now that 1pt spread or less is available elsewhere and SLM is still 2pt, that's not impressive.

 

[Doomberg]

What about stuff like Dax and Dow? These are what i prefer to trade tbh

 

[Ross Spur]

Dow, US30, WS30... same thing in SB world.

 

[Jason101]

Lol i'm really confused now, people are saying that they have had 7 re-quotes in 4 mins and 8 point slippage in a normal quiet market?

Can you not avoid re-quotes by opnening with a limit order rather than a market order?

 

[Doomberg]

Dow, US30, WS30... same thing in SB world.

So how come they re-quote on these products? I don't understand it

 

[Doomberg]

Can you not avoid re-quotes by opnening with a limit order rather than a market order?

I would hope so and it would be a good idea, but how often are the re-quotes with normal trading?

 

[Jason101]

I don't know nowadays I only ever open with limit orders, even if I am right on top of the price I want. I get the right price and it slows me down, stops me from jumping in to soon or chasing the market. (well most of the time anyway. :whistling)

 

[Doomberg]

I don't know nowadays I only ever open with limit orders, even if I am right on top of the price I want. I get the right price and it slows me down, stops me from jumping in to soon or chasing the market. (well most of the time anyway. :whistling)

Ah cool, so would you say that on Indices SLM is ok if you use Limit orders?

 

[x4x]

Why don't you use MT4 charts and trade with a SB company of choice - for an intraday trader SLM / MT4 tickets are way too slow and clunky anyway.

 

[Doomberg]

One of the main features i wanted was the MT4 tracker systems where it keeps track of your gains etc

 

[advfntrader]

how is MT4 "way too clunky" for an intra-day trader. Its way better than most online platforms I have used...

 

[Mata Nui]

how is MT4 "way too clunky" for an intra-day trader. Its way better than most online platforms I have used...

I supose if you want to be in quickly it can be a problem. To be honest its order ticket annoys me so much i created 2 scripts to enter either a buy or sell with my preset TP and SL and calcultated lot size. I just double click the script now and i am in. Of course if i am lookign to enter on an order at a set price i have the time to do that.

 

[x4x]

how is MT4 "way too clunky" for an intra-day trader. Its way better than most online platforms I have used...

As Mata Nui says, the tickets require market levels rather than a points distance, which is obviously far slower to input. I have also found them to offer far more re-quotes and slower execution.

I would be interested to know how standard MT tickets are way better than most platforms?