I think the 50/1 rule concerns only US brokers.
Am I wrong?
I meant ECN.
fxopen has standard, micro, ECN, and FASS accounts.
Standard account states:
* Spread from 2 pips (additional information in Trading Terms)
* Leverage from 1:1 to 1:500 (1:500 allowed for accounts up to US$25000)
* Minimum initial deposit US$25
* No maximum balance limit
* Trading volume from 0.1 standard lot, 1 pip is 1 USD approximately (1 standard lot =100000 points of the base currency)
* US$100 bonus for each new account after 10 lots accumulated trade volume
* US$25 welcome bonus after opening an account
(The Bonus will be added to your account automatically after the $100 of deposit)
While the ECN account states:
* 5th decimal pricing (additional information in Trading Terms)
* Interbank liquidity
* Spread from 0.5 pips
* Leverage from 1:1 to 1:500 (1:500 allowed for accounts from US$1000 to US$25000)
* All limit orders (Bid & Offer) go directly to orders book (Level 2 quotes) (Only for orders from 1 lot)
* Minimum initial deposit US$1000
* No maximum balance limit, no restrictions on stop and freeze levels
* Trading volume from 0.1 standard lot, 1 pip is 0.1 USD approximately (1 standard lot = 100000 points of the base currency)
* Commission per 1 million starting from US$23 per side
* The Best choice for Scalpers!You are right. Its the US brokers that are having to change down to 50/1
Garry
Any one have any trades this week? Im using version 1.3 and no trades this week on 2 diff brokers.
Garry
Did anyone has any transaction with MD this week?
I have just changed to Go Markets and have one sell trade going at the moment
GOT a trade going on now at 4:45 pm central mountian time. Im a few dollars in the holeā¦ but it seems to always work its way backā¦ traded on both brokers, forex dot com and ibfx. one minute apart.
Garry in Oklahoma
I had one trade too. It was hovering on the wrong side for some time, then ending up with 1 pip winā¦ Ah well, a lot better than a loss. 
It has been veeery slow in October. This was the second tradeā¦
I run 1.3 on FXDD.
Is it a good idea to start with 250$ on fxpro with megadroid, will it still produce some profit?
The recommended minimum is $500.
ONe of the robot competition web sites started MD in a contest last yr with $250 and it grew to $1950 in 7 months with the risk facator set at .7 Draw down wasnt bad.
I got similar results with risk factor at .4
You can back test to check.
Garry
Any advice on what would be the best account to open with MD?
Thanks.
Hi!
Just got this lengthy email from the MegaDroid team. Thought I should share it (but I guess you have got it tooā¦)
Well, it seems that weāve reached that infamous ā11th hourāā¦
ā¦that makes this an ultra-important email so read it carefully!
Weāre fairly certain that youāll have seen a good number of
informational emails regarding the latest draconian measures
enforced by the CTFC / NFA on US brokerages but, just in
case youāve been hiding under a rock somewhere, these are
the final nails in the FX coffin that get hammered in during
this weekend:
leverage on major pairs drops to 50:1
(GBPUSD/EURUSD/USDCHF/USDJPY)leverage on exotic pairs drops to 20:1
(basically, all other pairs)repatriation of US trading accounts
Of course, we mustnāt forget the previous changes to your
trading freedom that have taken effect over the past 18
months:
leverage on all pairs reduced to 100:1
no hedging
FIFO
Letās run through each point with a simple, āshoot from the
hipā explanation of how each point has and/or will affect
your trading::: FIFO (First In First Out)
When you have multiple positions open for a given currency
pair, this approach requires you to close the oldest order first.
Although this has no effect on the net equity of your account,
it can make manual trading more confusing and can completely
prevent many EAs from functioning.:: No hedging
This rule prevents you from having active buy and sell orders
for the same currency pair at the same time. As with FIFO,
this makes manual trading far more confusing because very
few retail traders are comfortable managing an aggregate
position trading account and also prevents many EAs from
functioning.:: Leverage reductions
Prior to the instigation of leverage limits about a year ago, it
was quite common to find brokers offering leverage options of
200:1 up to 500:1. What does that mean in real terms for
your trading? Basically, thisā¦Take EURUSD for example: the current rate is about 1.4000 so,
for a 100:1 account, you need about $1,400 of margin to trade
1.0 lots of EURUSD. If you have a 200:1 account then you only
need about $700 and for a 500:1 account, about $280.By comparison, the new rules would require $2,800 of margin
to trade 1.0 lots of EURUSD (at 50:1) and a ridiculous $4,950
to trade something like AUDUSD at 20:1 leverage!Put that into perspective by considering a trading strategy as
many EAs open multiple simultaneous orders.MegadroidPro, for example, can open 2 orders per currency
pair and normally trades 4 pairs so, if MegadroidPro was
trading at full capacity and using conservative position sizes
of just 0.1 lots each, that would equate to 0.8 lots.With a 200:1 account, that would require around $560 in
margin and allow you to trade quite comfortably with a
$1,000 account.Under the new rules, however, margin alone would be about
$2,240 so you would need to have around $3,000 in your
account to trade MegadroidPro the same way.Obviously, many traders are starting out small and probably
donāt even have $1,000 in their accounts so their only option
is to trade much smaller lot sizes and reduce the overall
profitability of their trading systems.:: Repatriation
This little gem only affects US traders who have accounts
with overseas branches of US brokers (companies such as
Alpari, FXCM, FXDD, etc).Last year, most US brokers offered their US clients the option
of moving their accounts to offshore offices. For example,
Alpari US clients could move to Alpari UK, FXDD US clients
could move to FXDD Malta, etc.The reasoning was that by holding the accounts in different
jurisdictions, traders could legally circumvent the CTFC / NFA
restrictions and continue to enjoy the benefits available to
traders everywhere else in the world i.e. hedging, sensible
leverage and no FIFO.Unfortunately, the CTFC / NFA have enforced even tighter
restrictions so that loophole has now been firmly closed and
ALL accounts belonging to US citizens are being returned to
the US during this weekend.For traders who have been taking advantage of the more
flexible facilities available offshore (position traders, for
example) this move could result in devastation of their
accounts simply due to the sudden reduction in leverage!Think about itā¦ an account currently at 50% margin at 200:1
would find itself at between 200% and 500% margin when the
market reopens on Sunday, at which point the broker would
be forced to close most, if not all, open positions.Fortunately, thereās a solution to all of these issues and
taking advantage of it is simplicity itself!..ā¦US citizens can still open UNRESTRICTED accounts with
brokers who have no presence in the US.Of course, there are many brokers advertising on the internet
but the difficulty is identifying brokers that you can rely on.Fortunately, weāve been researching this issue for quite some
time (having seen the writing on the wall last year) and weāve
set our sights on one brokerage in particular.Why? Wellā¦
āRawā market spreads as low as 0.4 pips
(no mark-up, unlike 99% of other brokers)Extremely low trade commission
(just $3.50 per full lot per side)True ECN trading facilities
(they do not trade against you)Based in Europe
(in one of the most financially stable countries - rated
even higher than the UK!)Scalping fully supported
(provides far greater trading flexibility)Hedging fully available
(provides even greater trading flexibility)High leverage available
(up to 300:1)FIFO not applicable
(First In, First Out stops many EAs from being used)Incredibly simple account opening process
(some accounts opened in just minutes!)Wide selection of funding options
(Wire transfer, Visa, Mastercard, MoneyBookers)ā¦PLUS great customer service - all in all, the ideal brokerage
for any sensible trader![Here they had a link to FinFX trading - a Finnish trader. You have to look up the address yourselfā¦]
Now, US traders will be rightly cautious regarding the security
of their funds - after all, few are likely to have experienced
overseas banks.This, in our opinion, is the icing on the cakeā¦
Think of how many US banks went to the wall over the last
2 years or soā¦ plenty! By contrast, we were unable to identify
a single Finnish bank that failed - EVER!So, there it is - the problem and the solution all in one email
We hope you decide to take back control of your trading and
move to a broker that can provide the facilities you deserve.Donāt let your trading career fall victim the overbearing influence
of the CTFC and NFA. For US traders, especially, remember the
last line of the national anthem:āā¦the land of the free (unless youāre a Forex trader!) and the
home of the braveāRegards,
The Forex Megadroid team
Well thatās it.
Wow! Looks like a lot of advertising to me.
If you canāt handle a 50:1 trading leverage, you donāt have enough money to be trading (not addressing anyone personally:eek:).
FIFO is only a mental problem (for some I guess). Any program can be changed to handle that.
Hedging is also just a perspective thing. Being long and short at the same time is in reality a null.
I would guess that Megadroid is getting some sort of compensation by this advertisement.
I wouldnāt get too upset over any of these changes.
Just my opinion ā¦
Thanks CarlG
I didnt get that email from MD. I did move to a london account to save myslef from FIFO and was worryed that a loop hole was going to close soon on me. This is very good info to know.
thanks again.
Garry
Got the email as well. This is just another example of how the US government is acting big brother and removing rights from itās citizens. I suggest you keep your business and your money offshore. Set up a trust or foundation and have it open a trading account and youāre fine
Felix
i have tested many expert advisors ,most of them make money is small span of time but loose at the end in long run,
how long have u been testing md and whatās the overall results. kindly share with me please.
Hi [B]bravehoststamps[/B],
looking at your account statement, it seems you have changed your settings to [B]StealthMode=Off, AggressiveMode=On[/B].
Is this correct?
Yes. I was able to get around the FIFO rules with ATC brokers, but they were not immune to the new leverage requirement (which is unfortunate, because I brought the issue up months in advance and was not informed I would be affected until a day or two before.)
I may attempt trading with 50:1 leverage, though Iām not sure how it will affect my trading or results with Megadroid. I am leaving it switched off for a little bit to see how everyone else is affected. If it is not satisfactory, I will likely move to an offshore broker (the one recommended by the MD team, likely.)
If anyone is experiencing any trades, good or bad with the new leverage, please advise.
Donāt - or else youāll either hit a margin call or start making very little profit. Better switch to a trusted offshore broker right away - either the one MD recommends or to any other of your choice.