Defending them? lol, just point me to the post where I defend an MT4 broker, thanks! Here are a couple of posts where I do anything but defend them! For an ex-gumshoe you're not too observant fluttrader http://www.elitetrader.com/vb/showthread.php?s=&postid=1767829#post1767829 http://www.elitetrader.com/vb/showthread.php?s=&postid=1750647#post1750647
The NFA and other organizations should regulate to an even higher degree dealing desks and position hedging and other current practices of Bucketshops. Computerized logging of all transactions is a simple thing, not just the consumers transaction but also the FCM. And those logs could be analyzed in any dispute. Automated slippage and any other real time adjustments may be legal but they should also be public, or accessible. Settings and adjustments can be logged real time easily. Microsoft has security logs for servers and desktops and they document problems and breakins. Bucketshop adjustsments - legitate and otherwise would not require much space at all. They are almost flat files and text file like. 100 meg of space tops This issue would become history and the willd wild west of bucketshops would be over. But they would fight it tooth and nail!!!
your right, this is not limit to MT brokers, most broker who has there own platform has the same thing in place.
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. [MEMBER] IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. THE PRICES [MEMBER] OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE. ALTHOUGH [MEMBER] IS THE COUNTERPARTY TO EACH OF YOUR TRADES, [MEMBER] LIMITS RISK TO ITSELF BY INSTANTANEOUSLY OFFSETTING THE TRADES AND POSITIONS IT ENTERS INTO WITH YOU WITH A BANK OR INSTITUTIONAL MARKET MAKER. AS A RESULT, [MEMBER] DOES NOT PROFIT WHEN YOU LOSE MONEY ON A TRADE. RATHER, [MEMBER] EARNS COMMISSIONS ON EACH TRADE IT ENTERS INTO WITH YOU. THE AMOUNT OF COMMISSIONS CHARGED IS DISCLOSED ON PAGE [x] OF THE CUSTOMER AGREEMENT. http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=2104
If you are married to your EA's but don't want to go the dealing desk route, there's an add on to use with IB's TWS for execution thru the IB TWS. http://trade-commander.com/ I use Ninja so I can't speak for it's functionality, but if you are willing to move to IB, it might be worth a look.
Does anyone know what InteractiveBrokers is? I have been a Forex MT4 trader for years, and I am looking for hedging forex account, hedging option/future with forex, and some other things. That's why I am ending up with this thread.