Hi Babypips traders,
Has anyone tried Alpari (UK)’s MetaTrader 5 since its launch a few days ago?
Would love to hear about your experiences so far.
Cheers,
Alex
Hi Alex
MT5 offers STP.
The minimum lot size traded on MT5 is 0.01
This is an extremely small volume to be traded at IB.
Q1.How does Alpari define its use of the term STP?
Q2. Can you explain the process of a 0.01 lot market order being processed straight through?
A lot of people have their codes in MT4 language but it will take time and effort to convert to MT5.
Q3. Why is Alpari cutting out the MT4 users from this account type?
Q4. Can we hedge using MT5?
Thanks again for your time
Hi BBYD,
Thanks for your post.
We’ve compiled a list of answers to questions such as yours, on our most frequent customer queries page.
If you can’t find the information you’re looking for please contact our Client Services between 07.00-22.00, Monday to Friday on +44 (0)20 7426 2900 or via email on <[email protected]>
Alex
Alexander Chadwick
Alpari (UK) Representative
Thanks for this Alex
The FAQs answers my last question only.
On a previous topic you told me that small orders (like 0.01 lots) cannot get processed at interbank. Sure this makes sense.
But now Alpari confirms ECN with orders of 0.01 lots via MT5
I’ll ask again
Q1.How does Alpari define its use of the term STP?
Q2. Can you explain the process of a 0.01 lot market order being processed straight through?
A lot of people have their codes in MT4 language but it will take time and effort to convert to MT5.
Q3. Why is Alpari cutting out the MT4 users from this account type?
Can you publicise your answers rather then redirecting me to personal emails.
Many thanks
BBYD,
Posts on the forums such as why broker X cuts out user Y or basic definitions of how broker X defines term Y, are often traps for endless arguments where the person will ultimately ignore the answer.
I sincerely wish you all the best with your trading and your brokerage firm. This will be my last reply to you. If in the future you have specific questions, please contact our Client Services between 07.00-22.00, Monday to Friday on +44 (0)20 7426 2900 or via email on <[email protected]>. Please do remember to quote your account number.
Alex
Alexander Chadwick
Alpari (UK) Representative
Thanks Alex for your time again.
I’m not the competition (as you imply) as my post was a theoretical debate on the pros and cons of a trade union, but if you feel some sort of heat well that’s just frankly encouraging.
Actually Swiss regulators have strict regulations for STP and it is clearly defined by them.
I just think Alpari is using the term STP liberally to attract unwitting investors.
There is no definition or statistical evidence that Alpari actually provide STP for MT5.
I believe your “STP” for MT5 will have all the same slippage issues and conflicts of interests that occurs with in -house market making.
Toxic Orders in Forex - YouTube
We’re not having a debate on loose philosophical theories here.
Alpari is offering a product that it refuses to define in any way despite promoting its product as having superior liquidity as implied by the term STP.
Alpari’s STP isn’t even mentioned in your T&Cs and it certainly does not describe execution policy as being any different to non STP.
Any witty investor will hopefully question your “STP” concept. Those that don’t clearly have a lack of due dilligence concern.
I suppose its just another grey area of finance that exists in those bucket shops around EC2.
Thanks Alex
No commission charged for trades opened and closed by 1 July 2012. From 2 July 2012 commission charges will apply.*
Alex
Alexander Chadwick
Alpari (UK) Representative
i have been practising on the alpari demo and i like it, i was just wondering as im new to this, will the commissions be taken out of my account balance immediately when i open a trade and then when i close it? if i make a 0.50 trade on one of the majors how much money would that be to open up that trade and close it? thank-you
Hi financial wave rider,
Thank you for your post.
This is currently under discussion. We’ll have an update shortly.
Alex
Alexander Chadwick
Alpari (UK) Representative
hello any news yet? Hi financial wave rider,
Thank you for your post.
This is currently under discussion. We’ll have an update shortly.
Read more: 301 Moved Permanently
Hi financial wave trader,
Alpari (UK) will continue to offer you no-commission trading on the MetaTrader 5 (MT5) ECN account in 2013. The extension of no-commission trading will help you benefit from the new, feature-rich MT5 trading platform for longer without having to pay commission charges.
In the future Alpari (UK) may introduce commission charges but if we do we’ll inform you well in advance.
Alex
Alexander Chadwick
Alpari (UK) Representative
I, like other [I]real[/I] newbies, might be unwitty investors due to inexperience and may lack due diligence(single “L”), due to an overload of all the new skills that must be assimilated, but I for one am concerned about how carelessly brokerages fail the hoards of well meaning, if only ignorant beginners, by “scalping” them of their hard earned savings. How they sleep at night is a question for their conscience.
I use scalping as a way to learn technical analysis. The process is grueling, taking high risk and often unfruitful vigilance. I would far rather have developed the skill to trade longer term positions with confidence, but this will take time. Having searched Alpari’s site for the term “Straight Through Processing” and “STP”, I found only one instance where they mention it and without any description:
[B]Alpari Direct Pro[/B]
Alpari Direct Pro, powered by Currenex is an advanced platform designed for advanced traders, money managers and institutions wanting to trade high volumes:
[ul]
[li]Deep liquidity from multiple banks via the Alpari Direct Pro platform. [/li][li][B]Straight Through Processing[/B] and fast Non Dealer Desk execution. [/li][li]Full depth of market for transparent pricing. [/li][li]Comprehensive orders and order management options. [/li][/ul]
Then it occurred to me that it was through googling “[B]alpari straight through processing[/B]” that I ran across the hype over STD. Indeed, it was the reason I opened a demo account with Alpari. To Alpari’s defense, from what you’re saying, all investment brokerages claiming to offer “STP” for the extremely small beginner, are actively misleading them. I suppose if I too persist in my scalping behavior, they all, including Alpari, will employ means to stop it. This seems counterintuitive for companies to act deleteriously against clients they normally try to encourage. It would appear that such companies should approach the matter more forthrightly by explaining the circumstances that make STP unprofitable for them and offer alternatives, so we might all grow with the truth.
[B]bangbangyourdead[/B], it was striking how Alpari UK rejected your questions concerning STP by stating “This will be my last reply to you.”, considering this is a feature they want investors to believe they provide. Thank you for using your due diligence. It is obviously a restless issue for such brokerages.
Do you personally know of any forex brokerages that offer true STP, who also are willing to discuss it intelligently?
Last thing, you seem to be weary over the thought that Alpari has implemented MT5:
“A lot of people have their codes in MT4 language but it will take time and effort to convert to MT5.
Q3. Why is Alpari cutting out the MT4 users from this account type?” I started with MT4 but much prefer the advanced features found in MT5. Kudos to Alpari for helping with this much needed transition, Who else is half as aggressive in doing so at the beginner’s level? It may very well be a compelling reason for sticking with Alpari. Just wish they’d speak openly about their STP issues.