Summary and quick facts:
- The recommended broker and account type is RAW SPREAD at IC
- The recommended VPS is MQL5s own VPS (if you trade only one EA) or your custom
virtual machine at
on their New York servers.
- All expert advisors need to be setup with your brokers individual spread (different for each pair).
- Trading exotics can require additional settings.
1. Recommended Broker and VPS:
There is a variety of brokers out there, so pre-testing and optimizing expert advisors on broad range of them is not feasible. As setup of a new broker most of the time requires only minutes, we strongly recommend to use the setup described here. In any case please try to meet the minimum requirements:
a) Minimum requirements:
- Account type: ECN, raw, STP: it all describes the same. An account type with direct liquidity pool access. It gives you the best prices, the lowest spreads but will ask a commission from you.
- Leverage: 500:1
- 1000$ deposit
- A VPS with good latency to your broker (smaller number is better). MQL5 VPS is a good starting point.
b) Ideal setup:
- IC Markets raw spread account. LINK
- A MQL5 VPS (needs to be paid per used account and uses a max of 32 charts)
- Your own VPS (can host multiple MT4 instances, with multiple accounts and charts). CheapVPS.co offers the most affordable solution combined with IC Markets. Latency in the New York datacenter is 2-3 ms (close to perfect).
2. Individual spread (details for IC Market) and trading exotics
Each broker offers individual spreads. As spread is a part of setting up each expert advisor to work correctly, please follow these steps:
- Get AVERAGE spread per pair from your brokers
- Calculate AVERAGE spread x1.5 to get final figure
- Enter individual spread figure for each pair in your expert advisor settings
- If trading exotics, use Take Profit setting of 1000 in SSA Fixed it
Who are you, Chris?
First of all, I am one of Max' customers who not only likes his products very much, but also his "Hive" approach of an active community. But both Max and the community had to face a harsh reality: there are limits to Max' resources. As very different traders with different strategy and level of skills are in the community, I got in contact with Max offering to help him out. My idea was, that this would be beneficial, for him, me and all of you. Why? Because Max has so much more products and ideas he wants to bring to an stage, where he can offer them to us. By taking over some of his time consuming tasks like running backtest or maintaining his presence here on MQL5 he will be quicker with his new products to hit this platform and - most of all - can start realizing more of his strategies that are still only in his mind. As I am also a true believer of risk diversification in my portfolio, I am looking forward what else there will be in store for us. So whenever there is a question, just ask me, I will either answer it myself of get in contact with Max.
Ok, everyone seems to already know that, but who is Max?
Max is the both humble and talented man behind TBB (The Beautiful Beast) and SSA Fixed It. His unique combination of being a world-class coder, a hands-on trader for the last 20 years and an expert in artificial intelligence allowed him to create products that are both astonishingly simple to use, thus effective on a broad range of instruments. This attracts both users, who look for an easy-to-setup solution to automate their trading as well as sophisticated professionals who recognize the potential of these experts as universal trading tools. Max provides a broad range of backtest and portfolio recommendation with his products, reducing barriers for new customers and helping advanced users to get no the next level in their trading.