Metatrader 4 broker

Discussion in 'Forex Brokers' started by vdgraaf, Nov 19, 2006.

  1. vdgraaf

    vdgraaf

    OK, After reading tons of reviews and sites about how bad are almost all Forex brokers, I am at the same point where I've started: trying to find a good/reliable broker that uses Metatrader 4 as a platform.

    I don't care if it has direct ECN access of has a trading desk, as long as the spreads are around 2-4 pips for the major pairs, and they don't freeze/cancel/re-quote your orders for various reasons.

    I've been using IB for over 5 years on the stock market and I couldn't be more happier, so I want the same thing on the Forex market..is it too much to ask?

    ARGHHHH!

    Anyone, has any recommendations based on PERSONAL experience for more than 1 year?

    cheers,
    Mike
     
  2. qtip

    qtip

    You may want to check out fxlq The website doesn't look all that great but they do use Metatrader with a dealing desk and also with currenex.
     
  3. vdgraaf -

    Did you ever find a MT4 broker to meet your needs?
     
  4. I use a Russian brokerage called Alpari. I have a business account with them that I've used over a year. I use the free API/Expert Advisors and it works well. I tested how quickly I could withdraw funds and wiring from Russia to Canada took less than 24 hours. Of course factor in that they are 1 business day ahead in terms of GMT.

    Delay from MT to Alpari for execution of the signals are an acceptable 0-10 seconds. I trade on the hourly charts so even a slow 10 second execution is acceptable. The expert advisor has done over 200 trades and I've been filled every time even if there is a delay.

    The only concern is the paperwork in English could use a bit of refinement (it is not their first language) and I am unsure of how reliable their regulators are over there if the firm went under. However, knowing that risk, I find Alpari a good broker with MT.
     
  5. Pippi436

    Pippi436

    aarontrade offers strategyrunner + metatrader with currenex-pricing. i have no experience with them nor with mt4, but it might be worth checking them out.
     
  6. Thanks - I appreciate the feedback. I'll continue to do my own research and will post any preferences. I will most likely open an account with StrategyBuildersFX as there financials seem strong (at least Gain's) and I have heard relatively good things about them.

    I may look at Alpari as well.

    Guess I'll never know until I experience the performance for myself...
     
  7. Alpari opened their London, UK office late last year
    believe all 'English' — ie non Russian accounts are now directed to
    and opened in the London office

    In the UK fx brokers and others are regulated by the FSA --
    Financial Services Authority: http://www.fsa.gov.uk/pages/index.shtml
    if an FSA regulated broker failed, the FSA Compensation Scheme
    provides up to a maximum of £48K - £30K in full + 90% of balance
    NB: the FSA Scheme is 'person of last resort':
    http://www.moneymadeclear.fsa.gov.uk/about/compensation.html
     
  8. shmcc2000

    shmcc2000

    Some of the info on this site is reliable and some is not. You're getting advice from novices that area new to a new market and sometimes its as accurate as the writing on a public bathroom wall.


    However, I've been trading live in many markets for over 14 years. I've traded FX for two years.

    I trade live with InterbankFX and find them to be consistently reliable.

    FXDD is another legit alternative.

    These two are fine no matter what others say. (No, I don't work for either of them, haha).

    You'll find someone will have a bad post on any FX broker out there. This would be the case with any business.

    Their size (excess capital) on the NFA's site that regulates them is key. Also the number of complaints against them are key. However, do realize, that when traders get mad because they messed up....they want to blame their broker. This goes with stocks, commodities, and FX, etc. So they'll try to file complaints. Most are not legit. However, thank God for regulations so that the legit gripes can be addressed. I hope this helps. :D :D