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Hi,

I work with EFX Group, an ECN broker for trading Forex. I am here to answer any and all forex broker questions, as well as help with trading and technical analysis ideas.

There are a lot of brokers out there to choose from. Most are bad, but not all. Most are Deal Desks, but not all.

Feel free to email me at andy@efxgroup.com, or just post threads on here.

I love sharing trading ideas as well.

Happy Trading!

Andy Geller

EFX: Experience Forex Freedom

 

EFX and MT4

Welcome EFXandy

I am using MT4 for my trading platform and wondering if EFX is going to support MT4? If so, great, if not, can you get me a software interface that will support autotrading as well as manual trading?

Thanks

Jeff

In VA

aka Patch the Pirate

 

Auto Trading on EFX

Jeff,

Unfortunately, MT4 is built for Deal Desk platforms. Since we are a pure ECN, we are not enabled for MT4. We are however looking into alternatives and a possible change to this scenario.

We are working with some programmers to enable traders to work with a fix format to piggyback their auto-systems to our execution. Email me for details at Andy@efxgroup.com.

In the meantime, I know of many traders that use other platforms for data, and use our system for executing their trades.

Let me know if I answered your questions thoroughly.

Thanks.

Andy

 
EFXandy:
Jeff,

Unfortunately, MT4 is built for Deal Desk platforms. Since we are a pure ECN, we are not enabled for MT4. We are however looking into alternatives and a possible change to this scenario.

We are working with some programmers to enable traders to work with a fix format to piggyback their auto-systems to our execution. Email me for details at Andy@efxgroup.com.

In the meantime, I know of many traders that use other platforms for data, and use our system for executing their trades.

Let me know if I answered your questions thoroughly.

Thanks.

Andy

Hi Andy

Yes many people use E-signal and enter trades through you however this defeats the purpose of Automated Trading with Expert Advisors.

Isn't there someway to have it fixed so the trades can be sent back and forth to EFX? and also your data comes into the charts? why is this not possible if it is possible with E-signal and MBtrading to be fed into MT4?

Thanks

 

EAs with EFX Group

Hi KSSDKLFDSJKFD (close enough!)

Unfortunately, MT4, as I stated above, does not allow us to send quotes through their system. They work soley with Deal Desk platforms. Thus, it cannot work with a data provider that they don't allow.

That being said, we understand the need and strong demand by traders for a system that both allows for EAs, and tight spreads and and ECN platform like EFX Group. For this reason, we are deep in developement on software that will replace your need for MT4. Look out for it.

My suggestion would be to take a look at the demo and our quote boards. If it is something that interests you, perhaps you might want to get familiar with it, so when the software comes out, you will be ahead of schedule!

Good luck and let me know if I answered all your questions appropriately.

Thanks.

Andy

 

Thanks for answering.

Aperantly it can be and has been done already with API's and costs around $2000 to have setup.Apperantly MT4 can have the E-signal feed into its charts and send and receive orders from MB's servers.

However other than waste my money im kind of waiting for a broker to offer it and there seems maybe a few IB's to MB that might be going to.

The structure and ease of use of MQL beats anything else by 500% in my opinion it even beats crappy e-signal's platform but it just seems the only brokers that use it are scammers and change the data to mess with indicators.

 

API and MT4 and EFX Group

kdskljsdlkfsdj,

Actually, I think you'll find that this is not the case. We have seen several people try to use APIs to plug MT4 into our trading, and there has always been an issue. We would only offer it as a product if it truly worked as billed, and we have not found that, nor do we expect to. There are plenty of people that have halfway solutions that combine some charting and our execution, and if an IB does offer it, we would have no problem with people using it. However, our focus remains on our own scripting/backtesting software.

 
EFXandy:

That being said, we understand the need and strong demand by traders for a system that both allows for EAs, and tight spreads and and ECN platform like EFX Group. For this reason, we are deep in developement on software that will replace your need for MT4. Look out for it.

This sounds interesting. But will it require a complete rewrite of MT4 programs and custom indicators to make the transition? Or will the transition be much smoother than that?

 

actually...

Just read the above posts!

The answers you seek are right here.

Andy

 

Well, I had just read all the above posts prior to my post. I quoted from you what I thought was most germaine to the issue, but I don't think I have the answer, unless it is on the EFX Group website (which I also visited... I didn't find the answer).

You said that your development will replace the need for MT4, but it didn't address how much work, if any, would be necessary for a trader to make the transition.

 

Jimven

Yes, should be pretty interesting. We are pretty excited about it. Gotta get some sleep...

good luck today.

andy

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