Smart Live Markets - Spread Bet on MT4

[Jack Hughes]

Re: Meta Trader 4

Yes this is what to be expected, fairly new company, they will have clients joining them anyway, the MT4 platform will be the guarantor for that. I am quite sure the SLM will attract a lot of traders signing up with them. Their spread is narrow and that makes it an easy choice compared to other platforms. If they offer a good service and execute well they will have a bright future.

Cashback offers are generally a waste of time, I think, and must attract entirely the wrong sort of client, the sort of gambler who makes a few wild punts and hopes he gets lucky. A 'free £100/200' or match deposit offer is far more likely tempt those who have a measured approach and have some sort of money management plan.

 

[gle101]

Re: Meta Trader 4

Cashback offers are generally a waste of time, I think, and must attract entirely the wrong sort of client, the sort of gambler who makes a few wild punts and hopes he gets lucky. A 'free £100/200' or match deposit offer is far more likely tempt those who have a measured approach and have some sort of money management plan.

Honestly, I don't think an introduction offer makes the difference in the long run. If you find a company with an excellent platform, good service and narrow spread you will join them anyway.

 

[gle101]

Re: Meta Trader 4

Hi Mike,

I would agree with you and gle101 on both points.

A big motivation for offering the MT4 platform is because there are a lot of EA users out there; not to mention those that have customized indicators, scripts, etc. The problem is that the scalability and integration with no dealing desk execution is limited. Purely from a self-trading perspective, the FX Trading Station II will be superior to MT4 in terms of execution and trading features.

Because of MT4's limitations in scalability and NDD integration, FXCM has been working on a new platform which is essentially an Add On to all of our existing FX Trading Station II accounts. The platform, which some on the forum may have seen me mention already, is called Strategy Trader. Strategy Trader is our new automated trading platform which will be the MT4 alternative. So traders will have the option to use FXTSII for self-trading or Strategy Trader for automated trading. You could actually use Strategy Trader for self-trading also, but I personally prefer FXTSII for self-trading.

What's so good about Strategy Trader? It was designed by FXCM to integrate seamlessly with NDD execution. No more bridges needed to connect the platform to the execution. Second, since it's owned by FXCM, we can make upgrades to it as we see fit and based on client feedback unlike with MT4 where we're subject to the platform Metaquotes makes available.

Strategy Trader will offer the ability to create custom indicators, strategy advisors (aka EA's), etc, and we're including a marketplace inside the platform where users can share their SA's and indicators with each other. The coding language we chose for Strategy Trader is c#, an open language, and the process of converting EA's and tools to Strategy Trader should be relatively easy. Our programming services team is in the process of commenting the code for some of the strategies and launching a programming Wiki to help users put their ideas into practice using Strategy Trader.

The charting is extremely powerful and has a lot more features than what's available in MT4. Just as an example, in addition to candlestick, bar, and line charts, it has Line Break Charts, Renko Charts, Kagi Charts, Point and Figure Charts, and over 100 custom indicators. Plus you can do additional things that even MT5 can't do such as view tick charts, create custom time frame charts such as 120 second candlesticks, 13 minute candles, 3 day candles, etc and the ability to view either the bid, ask, or both on the chart. Historical candle access will be greatly increased to 500,000 candles; compared to a maximum of 15,500 on MT4. And the backtesting is extremely extensive with many tools you would have to pay for in other platforms to get access to such as genetic optimization and walk forward analysis.

So in a nutshell, the FX Trading Station II is a very well designed platform for self-trading and we believe going forward Strategy Trader will be an excellent add-on more powerful over MT4's limitations. If you're not that keen on learning a new platform, we don't think you'll find Strategy Trader that hard to master:

-Jason

Yes Jason, seems like a good platform. But I would still use the MT4 platform on grounds of it being independent. And, why should I pay double up the price on spread with you when I can get so much cheaper from SLM? I think FXCM have to deliver both aspects in order to succeed in this though SB industry.

 

[Jack Hughes]

Re: Meta Trader 4

Yes Jason, seems like a good platform. But I would still use the MT4 platform on grounds of it being independent. And, why should I pay double up the price on spread with you when I can get so much cheaper from SLM? I think FXCM have to deliver both aspects in order to succeed in this though SB industry.

The spreads on main markets also seem to be twice ODL's, which is a bit odd when all the other SBs are going the other way.

 

[Jason Rogers]

Re: Meta Trader 4

Yes Jason, seems like a good platform. But I would still use the MT4 platform on grounds of it being independent. And, why should I pay double up the price on spread with you when I can get so much cheaper from SLM? I think FXCM have to deliver both aspects in order to succeed in this though SB industry.

An independent platform is good for brokers that don't want to create a platform themselves, but there are also disadvantages because the platform is generic and thereby limited to what it can do. It's a one size fits all approach. That's why MT4 has to be connected by a bridge to No Dealing Desk brokers. MT4 was built for brokers wanting quick and easy access to start a brokerage while being a market maker.

FXCM is able to design its platforms and make updates based on what traders are asking for; whereas Metaquotes is simply a software company. If they knew what traders wanted they may have included things like tick charts to begin with. Also remember that the brokers are the paying the "independent" platform providers so the software developer is there to service the brokers and not necessarily looking out for the trader.

The feedback is always appreciated, and spreads are one aspect of others such as platforms, resources, customer support that is taken into account when choosing a broker. The forex spreads are based on the best bid/ask prices being quoted from 10 banks providing liquidity on the platform, and there are no re-quotes as you could experience when trading through a market maker.

-Jason

 

[gle101]

Re: Meta Trader 4

An independent platform is good for brokers that don't want to create a platform themselves, but there are also disadvantages because the platform is generic and thereby limited to what it can do. It's a one size fits all approach. That's why MT4 has to be connected by a bridge to No Dealing Desk brokers. MT4 was built for brokers wanting quick and easy access to start a brokerage while being a market maker.

FXCM is able to design its platforms and make updates based on what traders are asking for; whereas Metaquotes is simply a software company. If they knew what traders wanted they may have included things like tick charts to begin with. Also remember that the brokers are the paying the "independent" platform providers so the software developer is there to service the brokers and not necessarily looking out for the trader.

The feedback is always appreciated, and spreads are one aspect of others such as platforms, resources, customer support that is taken into account when choosing a broker. The forex spreads are based on the best bid/ask prices being quoted from 10 banks providing liquidity on the platform, and there are no re-quotes as you could experience when trading through a market maker.

-Jason

I absolutely do not agree with your conclusion. Anyway you came onto this thread promoting your company, then you have to take the heat from traders like me comparing FXCM with SLM. I thought this thread was dedicated to SLM, maybe I was mistaken?

 

[Jack Hughes]

Re: Meta Trader 4

An independent platform is good for brokers that don't want to create a platform themselves, but there are also disadvantages because the platform is generic and thereby limited to what it can do. It's a one size fits all approach. That's why MT4 has to be connected by a bridge to No Dealing Desk brokers. MT4 was built for brokers wanting quick and easy access to start a brokerage while being a market maker.

FXCM is able to design its platforms and make updates based on what traders are asking for; whereas Metaquotes is simply a software company. If they knew what traders wanted they may have included things like tick charts to begin with. Also remember that the brokers are the paying the "independent" platform providers so the software developer is there to service the brokers and not necessarily looking out for the trader.

The feedback is always appreciated, and spreads are one aspect of others such as platforms, resources, customer support that is taken into account when choosing a broker. The forex spreads are based on the best bid/ask prices being quoted from 10 banks providing liquidity on the platform, and there are no re-quotes as you could experience when trading through a market maker.

-Jason

IMO the FXCM platform is better than MT4, and would be exactly what I need, if the spreads were tighter. It's a bit Catch 22, in that the potential speed and NDD execution are most use for making short term trades, but the spreads would really require longer term trades, and for that it doesn't really matter what the platform's like.

 

[Jason Rogers]

Re: Meta Trader 4

I absolutely do not agree with your conclusion. Anyway you came onto this thread promoting your company, then you have to take the heat from traders like me comparing FXCM with SLM. I thought this thread was dedicated to SLM, maybe I was mistaken?

I respect your opinion and realize there will be differences so no hard feelings. BTW, FXCM was already being discussed before I arrived at the thread

Jason

 

[gle101]

Re: Meta Trader 4

I respect your opinion and realize there will be differences so no hard feelings. BTW, FXCM was already being discussed before I arrived at the thread

Jason

No problem on my side as well. I guess the SLM representative must become more active or others will move in.

 

[montmorencyt2w]

Re: Meta Trader 4

No problem on my side as well. I guess the SLM representative must become more active or others will move in.

I think he was pulled out because he was starting to "go native".

 

[PipStar]

Re: Meta Trader 4

I would stay away from FXCM. They are the worse out there and you won't make any money with them. Their system is 100% to make money for FXCM and zero for the trader. Their existing MT4 bridge is slow. Anyway, to see them on this thread it looks like they are worried about this new company SLM offering MT4. And frankly if they want to discuss their products, FXCM should do so on their own thread.

I am in the process of opening an account with Smart Live Markets to test them out. Thanks to everyone who has shared their live experience on this thread.

 

[Tenapenny]

Re: Meta Trader 4

I would stay away from FXCM. They are the worse out there and you won't make any money with them. Their system is 100% to make money for FXCM and zero for the trader. Their existing MT4 bridge is slow. Anyway, to see them on this thread it looks like they are worried about this new company SLM offering MT4. And frankly if they want to discuss their products, FXCM should do so on their own thread.

I am in the process of opening an account with Smart Live Markets to test them out. Thanks to everyone who has shared their live experience on this thread.

Unless FXCM get glowing reports, I wont be trading with them either no matter how good their platform is. I've read too many negative comments over on FF from our American cousins and would have to see them really prove themselves over here before I trust them with my money.

 

[Jack Hughes]

Re: Meta Trader 4

Unless FXCM get glowing reports, I wont be trading with them either no matter how good their platform is. I've read too many negative comments over on FF from our American cousins and would have to see them really prove themselves over here before I trust them with my money.

I don't usually rush to defend companies, but there are always people who have problems. Satisfied customers usually remain silent, so if FXCM has more clients than most they will probably come across badly on forums.

In any case, opening an account and trying out the platform isn't likely to cost much in time/money, so the main negative at the moment is still the wide spreads.

 

[Black Swan]

Re: Meta Trader 4

I would stay away from FXCM. They are the worse out there and you won't make any money with them. Their system is 100% to make money for FXCM and zero for the trader. Their existing MT4 bridge is slow. Anyway, to see them on this thread it looks like they are worried about this new company SLM offering MT4. And frankly if they want to discuss their products, FXCM should do so on their own thread.

I am in the process of opening an account with Smart Live Markets to test them out. Thanks to everyone who has shared their live experience on this thread.

You honestly think that FXCM are worried re. a tiny outfit such as SLM? Nothing *wrong* with fxcm, perhaps they're not true ECN/NDD but the spreads are fine, execution fast, cracking back up service...Have you ever visited the forums they have and spoken/exchanged views with some of their educators/traders? They are a big player in our industry and Jason takes time out to answer each and every question the members here throw at him..Given their size they are an easy target for snipes, gripes and lies.. You're simply buying into a pub mentality; "I heard from so and so that blah, blah, blah..." DYOR, sample the goods, then review...

In relation to sml, well I'm still intrigued, beyond the over rated kit that is MT4, why so many guys are wetting themselves simply 'cos a new player emerges...who owns them, what backing do they have, are they a white label version of CS, what investigations have you entered into to ensure they're safe?...

 

[Tenapenny]

Re: Meta Trader 4

You honestly think that FXCM are worried re. a tiny outfit such as SLM? Nothing *wrong* with fxcm, perhaps they're not true ECN/NDD but the spreads are fine, execution fast, cracking back up service...Have you ever visited the forums they have and spoken/exchanged views with some of their educators/traders? They are a big player in our industry and Jason takes time out to answer each and every question the members here throw at him..Given their size they are an easy target for snipes, gripes and lies.. You're simply buying into a pub mentality; "I heard from so and so that blah, blah, blah..." DYOR, sample the goods, then review...

In relation to sml, well I'm still intrigued, beyond the over rated kit that is MT4, why so many guys are wetting themselves simply 'cos a new player emerges...who owns them, what backing do they have, are they a white label version of CS, what investigations have you entered into to ensure they're safe?...

Fair comment, but I would still wait and see how FXCM perform over here. Maybe I'm over cautious.

 

[gle101]

Re: Meta Trader 4

I don't usually rush to defend companies, but there are always people who have problems. Satisfied customers usually remain silent, so if FXCM has more clients than most they will probably come across badly on forums.

In any case, opening an account and trying out the platform isn't likely to cost much in time/money, so the main negative at the moment is still the wide spreads.

Yes I agree, it is always best to try out the company to firm your own opinion. Jason portrait FXCM as being the only "fair" company around, this is obviously not true as they have had their own problems in keeping away clients from complaining on the forums. However, I do believe they execute well, with that kind of wide spread it is hard to avoid any problems whatsoever with re-quotes and such.

 

[gle101]

Re: Meta Trader 4

You honestly think that FXCM are worried re. a tiny outfit such as SLM? Nothing *wrong* with fxcm, perhaps they're not true ECN/NDD but the spreads are fine, execution fast, cracking back up service...Have you ever visited the forums they have and spoken/exchanged views with some of their educators/traders? They are a big player in our industry and Jason takes time out to answer each and every question the members here throw at him..Given their size they are an easy target for snipes, gripes and lies.. You're simply buying into a pub mentality; "I heard from so and so that blah, blah, blah..." DYOR, sample the goods, then review...

In relation to sml, well I'm still intrigued, beyond the over rated kit that is MT4, why so many guys are wetting themselves simply 'cos a new player emerges...who owns them, what backing do they have, are they a white label version of CS, what investigations have you entered into to ensure they're safe?...

For one reason or the other out you seem to be pro FXCM and negative towards SLM. One have to give these "little" guys a fair chance as the have started something new and interesting in the financial spread betting industry (whatever your viewpoint is about the MT4 platform). It is obviously true one must be cautious about not depositing too much money with a startup, until they have proven themselves being safe. So far I haven't read one single negative comment about trading with them. This will become more clear and in the open if they perform well, as more live traders join them and will report on forums like this one.

 

[ULTIMATEONE]

Re: Meta Trader 4

sorry to ask this guys but can the ftse be obtained on the mt4? I've tried looking but all i can see is forex... ?

 

[Black Swan]

Re: Meta Trader 4

For one reason or the other out you seem to be pro FXCM and negative towards SLM. One have to give these "little" guys a fair chance as the have started something new and interesting in the financial spread betting industry (whatever your viewpoint is about the MT4 platform). It is obviously true one must be cautious about not depositing too much money with a startup, until they have proven themselves being safe. So far I haven't read one single negative comment about trading with them. This will become more clear and in the open if they perform well, as more live traders join them and will report on forums like this one.

Don't want this to become a circuitous argument, mostly I've been intrigued re. the fanboy switch to sml...as you know I'm a defender of the SB industry; the issues folk have owe more to inexperience/imcompetence than malpractice..If you're profitable with, for example, IG, why change? Moving to MT4 and a new player is v.unlikely to improve individual profitability..

If sml are SocGen in disguise then fair play, but we're talking about an industry that isn't perfectly regulated and even deposting 500 quid I'd want to know how strong/well capitalised they are before trading with them..call it due dilligence, even on a micro level..

 

[gle101]

Re: Meta Trader 4

sorry to ask this guys but can the ftse be obtained on the mt4? I've tried looking but all i can see is forex... ?

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