from SWScapital's thread: 'NFA notice regarding Gain financial' http://www.elitetrader.com/vb/showthread.php?s=&threadid=209336 attached is the NFA's 'Case Document' - interesting reading particularly about the MetaTrader 'Virtual Dealer Plug-ln' and how Gain set-up the VDP to benefit the company via 'slippage' Searched for 'Virtual Dealer Plug-ln' but no results - was there a thread here on ET about it ? don't see it listed on MetaQuotes' site, did they rename it - 'MetaTrader 4 Manager' ?
all TradeStation clients should pressure TradeStation to drop Gain Capital as its forex clearing partner.
Who says the clients are important? The relationship is therefore for the benefit of Tradestation and Gain. Most clients of financial firms are there to be milked, hopefully without them realising.......
we may have to trade fx futures very soon. the way the futures exchange bosses are forcing regulators to clam down on spot forex brokers ...... new CFTC/NFA rules every now and then.
have to wonder how the NFA got onto Gain, they make no mention of it but did they originally receive complaints from Gain clients ? is the NFA checking all the other MT4 brokers ? what about proprietary sw such as FXCM's, Oanada's and Visual Trader etc ? do they have built-in 'slippage' parameters ?
found BurgerKing's 'MT4 Brokers' Virtual Dealer Plug-In' - Feb 16, 2008 http://www.forexfactory.com/showthread.php?t=70582 another VDPi action: 'NFA orders monetary sanction of $320,000 against New York forex firm **** Global Markets' http://www.nfa.futures.org/news/newsRel.asp?ArticleID=3679 ed: don't know why the company name is being starred out - name is I K O N
Ive never had a problem with my mt4 broker. And what's more funny, it's not even a U.S. broker. it's BroCo.
A year ago I posted that they were messing around with the slippage after trying their demo. http://www.elitetrader.com/vb/showthread.php?s=&postid=2629377&highlight=gain#post2629377
yeah, I had mt4 account at gain/forex.com as well.... there's a reason i left way before the NFA even added FIFO restrictions. had a problem with PFG too. MBT mt4 was the best live at that time. probably still is