EA hosting at Forex.com
inkexit: ... Also I've never gotten a solid answer, have any really smart prgrammers here actually taken apart the MT4 terminal and verified for sure that it can't send any EA's being used to the broker behind the scenes while in use?
Humm, IMO if they have access to the server then they have access to your .ex4 file or whatever .dll file you compile to protect it. Don't know how easy it'll be to decompile .dll or .ex4 file for that matter. Brokers have their reputations at stake to get caught openly stealing someone ea. This could translate to real $$ for them. The brokers who would steal your code would usually be some 3rd world country- shady to begin with type broker.
Someone wouldn't need to take part the meta-trader for us to get that information. Meta-trader is a popular platform and ex-employees would have leaked this information by now. I'm just wondering, shouldn't dealing desk now-a-days be matching traders with other traders on the other side of the trade. If dealing desks are taking over 80% of the opposite position against their clients, then this is and should be a major concern.
I'm skeptical about this conspiracy theory. Sure they have access to your files and decompiling an .ex4 file is piece of cake. But why would they do that? They make their huge profits without the need to look into your EAs as they have all the info on their servers (order type, SL, TP, etc).
This general topic has been discussed many times. For example, there's been a discussion about whether MT4 could send EAs to MetaQuotes (https://www.mql5.com/en/forum/116521/page2#159379), and a discussion about whether VPS providers could or would get access to your EAs (https://www.mql5.com/en/forum/126288).
Personally, I agree with robofx.org. I can't imagine what a broker would do with the information even if MT4 were sending EAs to them, or if they had access to the .ex4 files on the hard disk of the VPS they were providing. How, in practical terms, do they wade through the huge pile of junk to find the tiny number of EAs which are actually valuable?
jjc: How, in practical terms, do they wade through the huge pile of junk to find the tiny number of EAs which are actually valuable?
Simple, by following the money. For me it's never the question of what but how much. Here's another angle. Someone on this forum once said, we all have an EA or Strategy we want to keep to our-selves. I agree with that opinion but the real question here is why? How much loss is legitimate for any business before they seek counter measures?
Every broker will counter you directly if you're perceived as taking too much money from them. This is not my opinion, its a Fact. Sorry for stating the obvious.
Every broker will counter you directly if you're perceived as taking too much money from them. This is not my opinion, its a Fact. Sorry for stating the obvious.
No, it's not a fact (nor a "Fact"). Someone who is actually a broker - i.e. acting as a middleman between you and a pool of liquidity - is not the counterparty to your trades, and does not lose money when you make money. In - erm - fact, they have an indirect stake in you being successful.
This picture does change if the "broker" is in fact making a market in the security. But then they're not technically a broker. And an ever-increasing amount of MT4 liquidity is going through to pools such as Currenex, rather than being warehoused by market-making pseudo-brokers. Most brokers (using the term loosely) will only warehouse the accounts of their smallest clients.
Ubzen: I'm just wondering, shouldn't dealing desk now-a-days be matching traders with other traders on the other side of the trade. If dealing desks are taking over 80% of the opposite position against their clients, then this is and should be a major concern.
Ubzen: Every broker will counter you directly if you're perceived as taking too much money from them. This is not my opinion, its a Fact. Sorry for stating the obvious.
JJC: No, it's not a fact (nor a "Fact"). Someone who is actually a broker - i.e. acting as a middleman between you and a pool of liquidity - is not the counterparty to your trades, and does not lose money when you make money. In - erm - fact, they have an indirect stake in you being successful.
Well, Concern answered. If they're not the counter party then case closed. Cheers!!
PFGBest is great for a real mt4 ECN, they charge a comission on every trade, and all trades are executed pretty much immediatly. THe only problem is that they dont't deal with micro lots. I asked them about this and they said they don't deal in micro lots becuase no real banks will trade positions that small. So I guess if we want to trade micro lots, we HAVE to go through a 'bucket-shop' for lack of a better term?
IMO, most ECN requires 20k account size, commission of 0.7 pip and floating spreads which could be anywhere from 0.00 to 10.00 depending on the news time. I've haven't research allot of ECN's but usually rates don't vary much in this business. If a broker is charging me 0.7 (standard lot) commission, I'd think they assume I'll be trading in Standard Lots to justify that cost of doing business.
For a newbie like me, trading in Standard Lots is too dangerous, regardless of whatever advantage ECN offers. On the other hand, Mini lots is ideally where I would like to start. I view Macro lots as a waste of time and would rather demo free. However, having macro lots at least give some people the choice who can't afford Mini lots. Seems whatever brokers give with one hand, they equally take away with the other hand.
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Just noticed forex.com is offering FREE 24/7 EA hosting for anybody with an account with them. It sounds great. But this brings up the basic question, will they steal my code? That is, simply monitor how all automated trading accounts are doing and copy the most sucessful ones, or reverse engineer them so that they dont work? Forex.com says it makes it's mony off the spread, but since they are not a true ECN, and will be holding the opposite side of my trades, I'm skeptical.
Also I've never gotten a solid answer, have any really smart prgrammers here actually taken apart the MT4 terminal and verified for sure that it can't send any EA's being used to the broker behind the scenes while in use?