Identifying traders using EAs in MT4 Manager??

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Hi everyone

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.

 
I think most of us here are on the trader side, but as a trader I would suggest looking at the order's magic number. Manual trades are have a magic number of 0 and EA's tend to have magic numbers not 0. You probably already knew this but hope it helps.
 

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.

 
VaderInc:

Hi everyone

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.


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

 
VaderInc:

Hi everyone

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.

If they are novice (if they didn't know) you would know, if other way it is if they allow you to know.
 
VaderInc:

Hi everyone

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

You are cotradicting yourself. First you admitted you used to block all EA trades (which means you can very well identify them) and then you ask how to identify them. If you don't have the slightest clue what you are actually doing and what is actually going on in your business, where the money goes and comes from, what your customers are doing, the very basics of how your platform operates, etc. then how on earth can you even remotely think about running such a business??? I smell a bucket-shop.
 
deVries:


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


Hi

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.

 
7bit:
You are cotradicting yourself. First you admitted you used to block all EA trades (which means you can very well identify them) and then you ask how to identify them. If you don't have the slightest clue what you are actually doing and what is actually going on in your business, where the money goes and comes from, what your customers are doing, the very basics of how your platform operates, etc. then how on earth can you even remotely think about running such a business??? I smell a bucket-shop.

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 ...

 
WHRoeder:

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.


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 :)

 
VaderInc, I think you should be contacting MetaQuotes Software Corp. Their main business model (as I'm aware) is supporting Brokers. I don't have access to broker-terminal so I should be the one asking you the above questions.
 
VaderInc:
I didn't say we used to block all EA trades. I said we had EA feature disabled.

EA's trade. You blocked EAs. Therefor you blocked EA's trading. Therefor you already knew what trades were EAs.

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