do you know that cap?, Right now Eaglefx drop your leverage to 1:200 when account reaches 350k
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I do remember seeing that chart now. Thanks for sharing it.
I only trade indices. Leverage for indices is 1:200, but drops to 1:50 if balance reaches 500K+. It is enough for me.
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Just now, I can log into Hankotrade and Coinexx website is now loading.
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Keep the thread updated on this matter
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By the way, Coinexx webpage loads, but I cannot log in. This is not the first time that I have experienced issues with Coinexx website.
EDIT: Managed to get logged in, finally.
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We all knew this was coming, Lets hope they don’t do too much damage if they start passing more crypto laws.
Crypto comes under new scrutiny in Washington following Hamas attacks
Washington is ramping up its scrutiny of the crypto world after reports that Hamas received funding from digital currencies.
Senators Elizabeth Warren (D-Mass.), Roger Marshall (R-Kan.) and Representative Sean Casten (D-Ill.) applied some new pressure Tuesday with a letter to the White House and Treasury asking for a “plan” to “prevent the use of crypto for the financing of terrorism.”
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As long as cryptocurrency exists in any meaningful way, there will continue to be push-back from various groups to try to make it less private and more burdensome to deal with. We will likely see ongoing efforts attempting to demonize crypto and introduce government-backed alternatives.
With large groups like Blackrock involved, I do not expect that cryptocurrency will go away in my lifetime. If things ever devolve to the point that I am no longer able to support my family as a result of heavy restrictions and/or over-regulation etc., then I will leave this country and probably renounce my citizenship.
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Keeping the thread alive, We’ve talked about prop firms here, but if that becomes overbearing for this thread, please let us know Clint.
YouTube has found a way to detect and block adblockers and the first ad I saw was from this prop firm. Has anyone heard of or dealt with this company?
Another sketchy firm at best.
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It reminds me of what I felt when I searched FTMO, They seem solid but I won’t co-sign them.
My recommendations; I like FTMO and SFTFirm and Fundedengineer and Topstep(futures) and Fundingpips and TradersLaunch(stocks) and their owners and CEO’s.
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As Envifx is transitioning from a White Label Brokerage to a Main Label Brokerage, in this email they mentioned something interesting about MT4 that I thought all MT4 users should read.
Envifx:
Envi is currently undergoing a significant transformation, transitioning from a White Label Brokerage to a Main Label Brokerage. This change signifies a profound shift in our operation that goes far beyond regular maintenance.
This transformation allows Envi to innovate and create a unique trading experience for you by bringing our entire operation in-house after three successful years in business. It’s worth noting that in today’s dynamic environment, acquiring a Main Label License for MT4 is no longer possible.
Consequently, as we move from a White Label to a Main Label, MT4 will no longer be available on Mobile, and only MT5 will remain long-term. You may have noticed that Envi has disappeared from MT4 and is currently accessible only on MT5. As the migration process progresses, MT5 accounts will also be disconnected from the old server.
However, please rest assured that we have a robust solution to address this situation. We’d like to inform you that MetaQuotes has confirmed its commitment to supporting MT4 for a maximum of six more months. This means that a significant migration to MT5 is imminent, and MT4 will soon see its final days.
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Metaquotes CEO confirmed that yes MT4 “End of Life” is near. Its not going to disappear, just no longer updated and supported.
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Even if the change is a year away, brokers should notify their customers that a change is coming, giving their customers time to adjust before the change becomes permanent
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As I slowly approach 50, I hope that this change will last another 18+ years, so that I will be closer to 70, and I have already made enough money to enjoy my glory years.
At a young age, I made fun of my parents who went from 8 tracks to record players yet couldn’t understand CD players. Now that I’m older, I totally get it.
I have great gratitude for the older generation, they told me I would understand as I get older, and they told no lies, I understand it now.
Our desire for change decreases as we grow older.
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The pain in migrating to MT5 is whenever they roll out platform updates, it may render many existing indicators, EA’s etc useless. Several developers I know expressed frustration when they’ve experienced this first hand.
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-If I had to guess, most brokers will not change anything, and will continue offering MT4 if they already have a license for it.
I do wonder if ‘end of active support and updates’ also means an end to selling new licenses for MT4. If so, then new brokers may have a much more difficult time competing and onboarding new clients if they cannot offer it. That could have a very serious impact on the industry, as a whole. I wonder about the possibility of buying old/used licenses from inactive users.
I prefer MT5, but only for a few, small reasons. I think, the difference between MT4 and MT5 seems mostly unnoticeable, but enough to be frustrating. The software itself is so dated and I cannot believe that so little has evolved after so many years. It is so unfortunate that metatrader happened to be the default offering that we were stuck with, in terms of forex trading.
All versions of Metatrader should be phased-out for something better, in my opinion. We can do so much better, really. It can be difficult to implement industry-wide changes like that, though, especially in an industry like this, where so many people rely on the software to earn a living and have been using it for years. Maybe the end of MT4 can help to serve as a catalyst for change, but I will remain realistic about that.
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Does that mean I have to redownload the indicator or the indicator will never work again on MT5?
It really depends on the nature of the update. Sometimes, indicators/EA’s will continue to work, but cannot be recompiled without proper fixing. If the indicator/EA becomes broken as a result of an update, then you can just update the indicator/EA and recompile it, or, ask someone to do it for you.
In the case that you do not have access to the mq5 source file, then you will have to ask the author to fix it, or, create something new from scratch. But re-downloading the file will not work unless the file has been updated to work with the new update(s).
Usually, though, at this stage in development, updates do not cause indicators/EA’s to break, in my experience. It can happen, though.
In the case of migrating MT4 indicators/EA’s to MT5, then they will absolutely need to be updated to work with the newer version.
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Shortly after 2010, there were no longer any JForex brokers for US clients.
That was no fun.
Then, there was a major update for MT4 that required a rewrite of much old code.
That was no fun.
Since then, I decided to download OHLC data and analyze it in R and now mostly Python.
Advantages are that brokers cannot see my code and I am not tied to any proprietary code.
I have a simple order management program for MT4, for MT5, for REST APIs, and I can port it to anything fairly quickly. Do I need to move it to Rust now? Sure no worries. Give me a couple days.
No vendor will support a product forever.
Plus, a vendor can get locked out of the US market.
I think diversifying across platforms is necessary.
If you are reliant on a single platform, that is a single point of failure.
Best course of action is to open an account right now using a different platform, perhaps with a different broker, and run the same strategey you run on MT4 now.
Use the time you have to work out any bugs before you lose the ability to run both in parallel. Compare the two. Perfect the new one. When they pull the plug on MT4, you will continue your business without interruption.
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