Hi everyone, I'm looking for a Forex broker that will automatically execute orders based on custom signals that I specify. I have my own set of trading signals which I like and which work, and I'd like to automate my trading process and have some piece of software execute the trades that I would normally make, since the Forex market is open for such a long time. I was set on going to CMS when I read some reviews...and saw that they were pretty bad. Does anybody know a broker/trading setup that would allow me to do this? Thanks! Mets
The most popular seems to be MetaTrader, or you could have a look at FXCM's Systems Trading, you may have to contact them as there doesn't seem to be a lot of actual information about the product. Not forgetting that quite a few brokers offer api so you could integrate it somehow.
I know Strategy Runner has a direct link to FXCM. SR will charge you I believe $65/mo. Also MCFX is coming out with automated execution with FXCM as well and that will cost $100/mo. Either way you'll most likely have to find a 3rd party software vendor that links up with your FX broker.
Username bugscoe I don't know who you are but I call you a Forex Angel for directing me to FxSpyder.com, I don't even care if you work for them, especially since I am an Oanda user. I have been an Oanda user for years, since 2003 but always suspected that they ran my stops. Of course I could not prove this but now that I am using FxSpyder it seems that those days of getting stopped and turning around at the exact rate have disappeared. Thank you very much, you deserve a Nobel Prize or something. I am new to this forum and never heard of these guys until now. Thank you also to Elite Trader.
FxSpyder looks interesting, but paying that 1/4 pip will add up fast if you are a high frequency trader.
Boston Technologies interface for MT4 to hotspot or currenex may also be an option to take a look at.