I have a question from a broker side ... I apologize in advance if this is a very basic question or has already be answered in the past:
I work for a broker and we have recently decided to allow our clients to use Expert Advisors to trade. The question is:
Do we (as a broker) have any way to tell which of our clients are using EAs and/ or which trades are coming in from the EA?
Is there some report we can look at in MT4 Manager that will show us this?
If MT4 doesn't have this built in ... is there some other software that we can use?
Thank you very much ... any help on this issue will be very appreciated.
Magic number makes no difference. The broker knows the message was sent via OrderSend vs manual opening, it's part of the protocol.
Any broker that actually cares and does something will soon be out of business IMNSHO.
Maybe there is something I don't understand....
Every trade made if it is with EA or manual will deliver the broker some profit
It can be you get more clients allowing to trade with EA's
There are a lots of ways you can make it more difficult to trade with EA's but is there a reason for
But if you are working for a regulated broker then only those rules are important to follow I think
So why use other software.... if you have clients using EA's
Do we (as a broker) have any way to tell which of our clients are using EAs
Like i said: we didnt used to offer EA on our platfrom and we are opening it up now. The reason why we would like to identify the trades that come in via EAs is to be able to generate some usage reports about how popular EAs are with our clients, if offering EAs is helping to improve our business and growth and so on.
As a business you need to know these things for any new product/ service you offer to your clients. How are we to know if our existing clients are trading more because of EA? Its all stuff that is helpful to know.
I didn't say we used to block all EA trades. I said we had EA feature disabled. MT4 Manager gives you a choice to either allow your clients to trade with EA or not. So far we didn't activate the feature.
Now that we are planning to do it we just need to be able to monitor usage. Its information we would like to know. When a company offers a new feature its helpful to be able to measure the effect on the business. For example how are we supposed to know how much more trading volume is being generated by EAs if we cant identify which trades are coming in via EA and which ones manually.
This is for basic business inter and reporting ...
And FYI we are based in the UK and we are FSA regulated ...
Hi, as mentioned in some of my other replies ... its not a matter of knowing in order to "do something" ... it's just a requirement in order to be able to tell if EA is generating a positive impact on the business or not.
So if we start offering EAs today and I see a 20% increase in trading volume after a couple of months. How can i know if that increase is generate by users using EA or some other reason? In order for me to know then I must have a report that shows what % of trades came via EA and what % came in manually.
That's all I am asking :)
EA's trade. You blocked EAs. Therefor you blocked EA's trading. Therefor you already knew what trades were EAs.