Accessing the U.S. stock market using MQL5

Discussion in 'Hook Up' started by Forexer Guru, Jan 21, 2024.

  1. I am interested in accessing the U.S. stock market using MQL5.
    Which broker or trading platform supports MetaTrader % and provides access to U.S. stocks?

    Someone help me. I checked with forex.com but it does not provide what am looking for.
     
  2. schizo

    schizo

    I think you can only do that through CFDs, which is banned in the US, Belgium and Hong Kong.
     
    PPC likes this.
  3. Robert Morse

    Robert Morse Sponsor

    Hi Forexer Guru, we do not offer MetaTrader but may I ask why you only want to use that software when there are a number of Equity centric platforms dedicated to equities?

     
  4. PPC

    PPC


    As @schizo wrote, you'll be able to do that only through CFDs.

    You can check out Tickmill for trading CFDs on US stocks.
    https://www.tickmill.co.uk/instruments/stocks

    There are many other brokers/dealers with Metatrader 5.

    Nothing wrong with using CFDs instead of stocks, but obviously when it comes to CFDs you must be careful which broker/dealer you use. (just like with FX))

    PS: Also check out Forex Simulator (soft4fx.com), even though it doesn't have MQL5, you can use it for manual bar replay which I believe is superior to computer testing.
     
  5. hilmy83

    hilmy83

    I always wonder why US brokers haven't used MT5 for equity trading.

    I mean we have US futures brokers that use MT5, you'd think it would be an easy offering.
     
  6. expiated

    expiated

    From what I understand, the SEC and CFTC do not allow CFDs to be traded in the USA because they consider them to be "high risk" for the following reasons (though I don't know if all of this information is accurate, and some of these reasons seem bogus, especially numbers two, five and six, seeing as how these same drawbacks apply to other financial instruments that can be traded in the U.S.):
    1. CFDs are unregulated over-the-counter products that can be traded by any two willing parties on any marketplace that allows them and are not listed on any regulated exchange.
    2. Traders are only required to contribute a small portion of the money involved in each trade and can borrow the rest from the trading platform—sometimes as much as 30 times the amount invested; and borrowing money (leveraging) to invest is always a risky move.
    3. Unlike most other investments, you can lose much more money than you started with, meaning you actually owe the CFD provider money.
    4. You don't own the underlying asset. All you own is the contract between you and the CFD provider. Therefore, you can't benefit from the capital growth of the underlying asset over the long term.
    5. Just like their underlying assets, CFDs are affected by market conditions and can swing wildly back and forth without notice in volatile markets.
    6. Depending on the trading volume of the CFD, there may a buyer or seller available when you want to close out your position.
     
  7. hilmy83

    hilmy83

    I'm not talking about CFDs. I'm talking about straight share/equity trading.
     
  8. Robert Morse

    Robert Morse Sponsor

    We have certified with and added to our OMS and compliance systems about 6 software trading platforms. Each one requires an investment in man hours and a contract for the third party provider. There needs to be an economic reason to keep adding more. In addition, staff needs to be trained on it. We have no need for more.

     
  9. TVMarkets(.com) and IC Markets broker both access to US stocks via Metatrader
     
  10. expiated

    expiated

    On the one hand, I've read that the MetaTrader 5 (MT5) platform is not designed for direct share/equity trading.

    And yet, according to their website, Tradeview HAS indeed added US equity trading onto its MetaTrader 5 platform, which means traders now have direct market access (DMA) to stocks listed on the New York Stock Exchange, NASDAQ and the American Stock Exchange through their service.

    UPDATE: It looks like TrAndy2022 already provided this information (an more) while I was typing my response.

    "Nov 7, 2018 — Tradeview LTD, a broker-dealer regulated in the Cayman Islands, announced on Wednesday that it has added US equity trading onto the MetaTrader 5 platform."

    ~financemagnates.com
     
    Last edited: Jan 22, 2024
    #10     Jan 22, 2024