Broker killing EAs

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Nudge
17
Nudge  

I read alot about the broker killing the EA, why do they do this?

OK so it's making money, but they make money too with the spread.

Or is it they just don't like us making money, do they get commissions if we lose money?

How do they know you are running an EA to start with.

or are these brokers only killing scalpers that trade multiple times in the minute.

Gerie
4
Gerie  

then try fxcast

Hi Nudge.

join me and try FXcast as your broker. As long as EAs are not scalping they work fine there. I only make good experience with thme since months now.

regards, gerie

omelette
784
omelette  
Gerie:
Hi Nudge.

join me and try FXcast as your broker. As long as EAs are not scalping they work fine there. I only make good experience with thme since months now.

regards, gerie

There are multiple definitions of what scalping is, but when it comes down to it, it is nothing more than another restriction, there to prevent you making money - so to answer the question in the OP, yes, all the bucketshop brokers want both the spread commission and the trade profit (which they take the other side of). Afterall, with a platform such as MT that is so heavily biased in favour of the brokers (which they pay for, we get it for free...), why just settle for one when both are available.

Not all MT brokers are creaated equal however, so some will screw you much worse than others...

mikkom
468
mikkom  
Gerie:
Hi Nudge.

join me and try FXcast as your broker. As long as EAs are not scalping they work fine there. I only make good experience with thme since months now.

regards, gerie

Interestingly you have 3 posts and in two of them you are promoting a broker. More interestingly a spokesperson for the company just arrived to this forum yesterday commenting some issues with fxcast.

Now I can't be sure that you are a company spokesperson but it sure seems so.

Your other comment states

why dont you try FXcast (Antigua)?? I had not a single bad experience with them. And I cannot even find any negative entry in any forum [..]

Maybe you should verify your comment by trying Google? Below is a linked google query for "fxcast forum" (this does not take you to fxcasts forum as you might think)

fxcast forum - Google Search

By the way I have nothing against this broker, they could be very honest broker but it's always worth doing your DD before jumping in.

rayz
20
rayz  

?????

how about using the powerful ea????

if true they shoul banned or delete all function relate the ea.

fxcast_support
5
fxcast_support  

our answer

Dear Forum,

we have already answered to one of these points and would like to explain our point here too as our name is mentioned. (Thanks Gerie ).

The overall view of MT4 brokers is upsetting. We will not take any position here nor talk about other brokers. What we can say from our experience is the following standpoint:

1. EAs which are firing trades each second and scalp in some seconds or minutes are damaging a broker. The reason is simple: Most times these EAs are used with micro/miniaccounts. Big traders do not use EAs. This is a fact. professional traders use their brain, analysis and much experience for their trades. They work with billions and will never use machines. Of course they trade directly in the market with a platform as Currenex or others. And the minimum there is 500,000USD to participate and even then you need partners which let you into this market. Not every private person has the option to do this.

Even the case that this is a multi billion market it is still a question of buy and sell, ask and bid. And for small positions as the typical customer of brokers is (even some lot are small) there must always be a counterpart who takes the position. And mini/microlot must be collected until placed into the market. Not every MT4 broker is a closed shop as people here simply suggest. When the EA scalps the profit maybe drawn from the broker because the counterpart positions are not yet completed.

2. EAs that fire 1000s of prices questions to the broker server before they take a position. Imagine there are many EAs, trades cannot be done then because the server is busy with these requests. This is simply not possible.

Most people that implement EAs do not have any clue how they work - they buy it and implement it and are surprised that it does not work as the guy who has sold it has made him all promises of heaven. Getting rich overnight is a dream. Trading is hard work and people who programmed a real good EA do not sell them most times.

It may be true that some brokers do not like traders making profit. We will not comment this. FXcast likes traders making profit - we know how to clear the trades profitable for both parties - the customer and FXcast.

But ist is definitely wrong to say all brokers are thieves and cheaters.

We thank you for your attention and wish you luck in trading.

Your FXcast team.

Gerie
4
Gerie  

Mikkom

Yes - definitely I do it as everybody here does it. Some like this broker and some like that broker. And everybody talks about them with names and plus and minus.

This means I would be married with a broker? Strange. I only wanted to name a positive experience after I read all these negative comments. It sometimes looks as the dark side of the moon. But as always I think people who are satisfied do not write into forums. Only disappointed people are looking for help I am convinced.

And I think I am already a longer time here than this broker - or? And the link you have set here is a real good way to verify a broker and make the DD.

Absolutely correct. But when a positive result brings people here to attack another member I think I have some problems here. As others may have too.

Gerie

omelette
784
omelette  
fxcast_support:
.....

2. EAs that fire 1000s of prices questions to the broker server before they take a position. Imagine there are many EAs, trades cannot be done then because the server is busy with these requests. This is simply not possible.

Most people that implement EAs do not have any clue how they work.....

Well, this response would suggest that you do not know exactly how EA's work - Metatrader relies on tick-based order processing, it is not possible to 'interrogate' the brokers' server in the manner you suggest! You are completely dependent on the tick-rate 'broadcast' - which the broker has complete control of. Yes, it is possible to sent hundreds of limit orders to the brokers server (the much-cited 'excuse' most bucketshops use to ban scalping) but in practice, practically all scalpers I have seen (and coded) do not do this...

btw, one of the latest Bucketshops to come on the scene (Aleccohfx) also used this 'flooding' argument initially, they then decided they could still make a 'killing' by imposing formidable scalping conditions to which clients would have to abide, in fact so stingent that it should not even be defined as scalping. But people were still managing to make money - so they pulled the service! Integrity or what...

mikkom
468
mikkom  
Gerie:
Yes - definitely I do it as everybody here does it. Some like this broker and some like that broker. And everybody talks about them with names and plus and minus. This means I would be married with a broker? Strange.

What is really strange is that you post your positive comments once again 10 minutes after brokers salesperson. A little odd don't you thing?

It would be interesting to see your and brokers IP addresses.

prasxz
1259
prasxz  

hi

points of good broker :

registered broker ( NFA,etc)

there's no delay in deposit or withdrawal

good response support team

you can call them in an emergency situation

big capitalization broker (even there's mini or micro acc)

smooth,stable and user friendly platform connection

there's backup server in case of system failure

hope there's no second Bear Stearns

===================

Forex Indicators Collection

buylowsellhigh
3
buylowsellhigh  

another good point is to chose a broker that has made a good profit for a number of years

12
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