Sure, you can try the ACM platforms, 4 of them with 1 login and the quickest execution out there. Regarding the MT4, the brokers that use it AND offer trailing stops (not all do) you will find that a trailing stop will only function with your computer on and not when off.Also, the broker will n ot be able to set any market order for you neither. Not good if you are a busy person who travels and may need to take advantage of a market condition but are unable to. 2 Simple examples.
I am flying out today, I am going to open a couple of positions and place trailing stops. I will be away form home so I switch everything off, with ACM no problem, with MT4 don’t even waste your time.
Oh crap, something wrong with my laptop, mobile trader. I really want to open this position. “Hello ACM, please open this position for me…and set up a trailing stop, thanks :D” with MT4 broker “Hello, please open this position for me…and set up a trailing stop. What do you mean you can’t! :mad:”
All I can say is becarefull if going with Dukascopy, much connection problems that my ISP technician said was not my computer, server or ISP. I did move.
Yes, I would love to read it. It looks like your link was removed, I tried to find it on the forexyard site but not able to. Could you be more specific where to find it, and under what title and your name? Thanks.
;)Hello again Forexm, yes, it all sounds very interesting but there is nothing there that would make me move from ACM to you. I enjoy great platforms, connectivity and execution. 2 other little points, with ACM I do take advantage of the no tax on gains and also my broker covers the expense of all credit card fees.
Ok, yes I know…ACM added the MT4…but I still stick to my reasons above for not using it, I am way too comfortable trading with their platform, and the new iPhone friendly platform (was given the mobile as a present, I wouldnae buy one, they’re so expensive…aye pal must be my Scottish blood talking!) But hey, suppose if you like the MT and want to enjoy the ACM conditions then why not, like I say…i’ll stick with what I am happy with.
I also use thinkorswim who are excellent if you like trading a variety of markets. Derivatives, currencies, stocks, etc. Their platform is free and you can demo trade.
I trade with ACM and download their MT4 demo, but I don�t think I�ll use it thou. What makes me a little insecure is the fact that MT4 is a platform provided by another company, so it�s like the broker is an intermediary.
For the advanced platform and the other three, ACM is the owner of the software so they guarantee no-requotes or any change in the trading conditions since they are the ones in control�
Using MT4 does not make your broker an intermediary. MT4 is just a piece of software the broker gets from another company.
The data on your charts is coming straight from your broker, and your orders go straight to your broker. MetaQuotes just makes the software, they are not handling any of the transactions.
That’s like calling your accountant an intermediary because he uses Microsoft Excel. Microsoft is not your accountant, and they have no part in the accountant’s business… They just sold him the software.
Firstly, appologies to Pipsygirl, did not mean to cause a link violation pal…mea culpa!
OK, so MT4. If the common definition of the MT platform producer is as a “3rd party provider” (as written in most broker disclaimers) then surely this means that the providing broker does not have 100% control. This is reinforced by the fact that with brokers such as ACM who are propriatery platform providers, you know the client is linked to the broker’s server, with MT all is connected to the client’s server (hence trailing stops not functioning when you switched off).
returning back to down time, surely the providing broker in such a case is powerless to control such a problem, so in my book this makes him more of an intermediary than not.
No, quite a few brokers offer different platforms. Dealbook 360 is offered by GFT just as an example.
Yes you download and install on your computer, but it is only one interface to the forex market, just as you may call your broker and make trades or use your smartphone, ie iPhone or similar device to trade also.
MT4 does not connect you to MetaQuote’s servers. All your orders go directly to your brokers servers, and all your price data comes directly from your broker’s servers.
The fact that trailing stops require MT4 to be turned on doesn’t mean MetaQuotes has any hand in your trades, it just means they didn’t program a feature to store your TS on the broker’s server.
No one should avoid a broker just because they use 3rd party software. I’d guess that no broker writes their own software anyway. I can almost guarantee you that they contract a private 3rd party programming firm to write the software for them.
Thanks for that phil838, I understand it better now. I was not saying for people to keep away from MT only brokers.
So when a broker that offers both platforms tells you in their discalimer that they cannot guarantee the same kind of execution experienced with their own platform, that re-quotes and confirmation delays are not under their control, that streemed prices may vary between propriatary and MT, please explain how that falls in to your [I]“All your orders go directly to your brokers servers, and all your price data comes directly from your broker’s servers.”[/I]I would like to ubnderstand this better as well.
Thanks a lot for the explanation about MT4, but sth is true about Mt4 a broker doesn�t buy it, the broker rents it. They pay a fee to metaquotes to use that software, the fact that the software is not OWN by the broker they can�t guarantee the same execution as a software owned by the broker itself�
MT4 is used by amateurs and esignal and tradestation is used by professional dont people think using what the professionals use there tools will give them an edge?
If indeed you are professional then you understand fully that the EXECUTION VENUE is what separates “amateurs” from “professionals” not their charting software.
MT4 is miles better than many antiquated proprietary interfaces used in banks and funds. MT4 itself is not important, it’s good for forex once setup right. But you’ll never get an institutional backend connected natively to the MT4 server.
Have u ever looked at charts in BLOOMBERG TRADEBOOK? Compare them to MT4 and get back to me For currencies MT4 offers lots of indicators, autotrading, some news - what more is needed? One can certainly hone their trading strategies there before moving on to “better” platforms. But again - for the most part - better is the execution venue and price feed not the damn charting thing
Using Bloomberg Tradebook won’t stop you having a margin call if you cannot trade either. Good traders make money no matter what. I myself did 70 pips on an iPhone with a 3.5in screen on friday. Stop confusing people
