IB or MT4 for FX?

Discussion in 'Automated Trading' started by Azzi, Mar 23, 2012.

  1. Azzi


    I am developing a C++ tick backtester intended primarily for FX. It is capable of testing 100+ million ticks under a minute with a simple martingale test strategy. The tester was originally intended to develop DLL strategies that could be used with a standard MT4 terminal but considering limitations of automation of MT4 client (e.g., cannot be used with multiple instruments, debuggability of DLL is worse than standalone application in MSVC) I am now considering extending the tester to live trading using either MT4 API or IB API. The reason for MT4 is there are many MT4 brokers that it can be used with but MT4 API is not free and not perfect. Also easy to convert MQL4 advisors. IB is more powerful, has C++ socket API and is free, but this is only one broker.
    What would you choose and why?
  2. tritom


    i would disregard anything MT4, for many reasons, the single-threaded transaction model being the most compromising thing.

    why go for anything proprietary? i would concentrate on FIX API, supported by most Currenex brokers, a big number of retail spot brokers like MBTrading or Integral-based IBs, LMAX exchange etc etc.

  3. Azzi


    Have not thought about FIX considering it as a tool for big boyz only. $50/mo (or commissions in lieu of it) at MBT and $100/mo at IB is not too bad. What is great MBT does not charge for it during development on the demo account. Thanks.
  4. Craig66


    The bad thing about MBT FIX is that it doesn't really work very well.
  5. Something simpler to consider maybe.

    IB's TWS and Gateway both work well with Sierra Chart. You don't need to pay much and you get a lot.

    SC will give you a nice dll trading interface for trading multiple symbols and multiple accounts while handling the graphical side for you. I've found it more than satisfactory for both test and operational phases. Also, if you need something it can't do now the development team are very quick with the requested changes that they see value in or that fix faults - sometimes they do disagree :)
  6. Azzi


    There are many similarly priced retail products that allow trading using the strategy in a DLL. What is so special about SC?