No way would I be caught using that MT5 NFA FIFO garbage. If I wanted to trade stocks there are Level II ECN platforms and schools right here. No, I prefer an unadulterated FOREX trading system. The NFA MT5 users can stay in their own isolationist fishbowl USA and watch their dollar fall with pretty colors.
Nice to think there’s a brokerage nearby in Moscow. But I won’t use or advise them if they’re only MT5.
Dear GTR Power, let’ sbe consistent and let’s not make fun of each other - that at least would show some respect.
First of all, the company DOES NOT HAVE TO provide the clients or just gapers with the above mentioned information (and that, please not, is not our own will), hence, by all means no one is trying to deprive you of your right to choose other ECN broker (in case you are not satisfied with the answer to your post and our trading platform).
In addition, LiteForex company is not a branch or subsidiary of any other broker, it is an independent company engaged in providing Traders with high-class services on Forex. Moreover, the company act in aacordance with all the current laws and regulations, that is why the company’s management has the right to to devise Trader’s Agreement itself and stipulate clauses that seem to be the most suitable for the company and its clients, no matter wich trading strategy they use.
Mr.Tegin, I am really sorry if something from my posting made you sad, my appologies!
So lets try to be serious and maybe you can answer those questions:
thanks for answering in advance.
GTR Power,
All try to do my best to satisfy your peculiar interest in all the above mention questions. First, I’m not a Chief Dealer or server controller or somebody else responsible for the work of our Terminal and trading server. Thus no clients have ever claimed they were requoted or dismissed from trading process I can contend the company adheres to a quite liberal policy concerning clients’ activity. To support my idea I give you earnforex.com/ru/ecn_forex_брокеры/ so that you could see and match some ECN brokers (I beleive you didn’t ever thought of finding some of the brokers in that list)
Good luck
Mr.Tegin, I will wait for your answers form you company:rolleyes:
I have no idea why you gave me the link to earnforex,I just asked if YOU can name me atleast one true ECN broker with fixed spreads? Hope to see your answers soon.
Dear GTR Power,
Concerning ‘2 minutes rule’ and cheaters, yes, we do have in our Agreement on Quoting System and Transactions Procedure the following article:
‘7.3. Brief trades (less than 2 minutes), including lock trades may be declared invalid should it be obvious they are unlawful.’
The key words here are ‘may be’ and ‘unlawful’. These trades may be declared invalid only in case they are obviously unlawful. The reason we include this rule in the Agreement is that we faced many problems with cheaters. There are some bugs in MetaTrader that can be used by cheaters to make profits from the system’s vulnerability. It makes the company lose its money for the company is not able to hedge such trades. These trades last less than 2 minutes.
If you are an honest scalper (not a cheater) you have nothing to worry about for unlawful trades are easy to identify. Nobody will be going to cancel real scalpers trades.
Thank you Mr.Shuvalov for your answer.
I have nothing against Liteforex MarketMaker but I can not accept Liteforex pretending to be ECN broker.
Dear GTR Power, what you say is really quite reasonable concerning the theoretical side of the matter. However dispite the fact that we have already stressed that in the existing situation in the market the company as an ECN-NDD broker has the right (well, actually it has not undertaken any obligations to maintain the established order of work of an ECn broker in your view. What you say about the process of work and sell/buy orders does imply fully to our company and in terms of hedging we were talking about the funds.
Thus in my turn I’d like to ask what is that you are willing get out of this discussion? If do not mind LiteForex as a broker and if you have never came across any difficulties in trading with the company, i’d like to assume the subject is quite clear and needless of any further discussion.
Best regards
Are you staying with MT4? So far as I hear MT5 is far less useful or even crimeware. Are there any considerations for traders in Moscow such as webmoney or STB card or Sberbank wire?
So you mean to say that scalpers are welcomed? If I were a scalper and opened an account in Liteforex would you let me make quick trades?
Dear rossiya,
We are going to stay with MT4 as long as it is supported by MetaQuotes. As for MT5 I have never heard that it is a crimeware. Though many of those accustomed to MT4 find it not very convenient.
I am not sure I understand you question on webmoney and STB. Webmoney is widely spread throughout Russia. As for STB, as far as I know in 2008 it was dissolved.
Yes, you are welcomed as a scalper. Your quick trades will not be canceled.
rossiya, the company does accept cards (i.e. bamk transfer), however this procedure is linked with some tome frame expenditure and involves much operations hence we believe it’s more convenient to use electronic payment systems such Webmoney. As for Sberbank we do not work with this bank, all the banks we have benefitial relations with are mostly situated overseas
Mr.Tegin, babypips is very famous website among newbies and some of them might believe that liteforex is true ECN broker and welcomes scalpers, which is not true at all. I posted my questions which you was unable to answer and prove that you are real ECN broker. Any ECN broker would answer them very easy and fast and prove everything, why do I need to believe in your words?Writing on website ECN and no dealing desk execution doesn’t make you ECN broker;)
I seriously doubt a beginner would know or care about the difference between an ECN and a marketmaker. And it seems there’s a gray area between the two poles which will only grow more gray in the future, Rather LiteForex is in town and they offer nanolots which is great for poor and formerly rich as myself. I doubt most people in Moscow care about ECN forex or if they do, they already have several brokers. I’d rather have a local broker with some brains than some NFA MT5 faceless USA broker bent toward scraping the maximum from people’s pockets.
Damn I thought Sberbank was the real bank everyone used. History I guess.
hello everyone, what is lite forex?
Dear forexpeters, LiteForex is a dealing centre or a broker (different people - different names, you know), however the point is that the company (trademark) offers service on Forex (Foriegn Exchange Market) for those who want to try make money sitting at home. There over 40 Trading Instruments to offer, the best trading platform, security of your operations and good qualified support service
oh ok thanks for the info, so basically is when someone want to trade forex from home, then trades with a broker like OLDs for example, am i correct?
forexsmith, if you wanna trade from home it doesn’t matter which broker you choose - trading terminals of any of them (well, at least in our case) are available on web sites for download
oooooooo ok thanks 