Is it true that every MT4 broker has a dealing desk of some sort, since ECN doesn't accept MT4?
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Quoting CraigDislikedThere was a post over on the tsd forums with a link to a post from a guy who (supposedly) worked for a broker. The gist of it was that Metatrader is designed from the ground up to be dealing desk software, there were other worrying features as well, but the post seems to have been magically deleted!Ignored
Quoting teslaDislikedIf you're trading news or scalping, you and the dealing desk are not going to like each other much. It's the nature of the beast that in short term trades the desk is your counterparty, so either they will make money or you will. The issue largely goes away if you're trading longer term.Ignored
Quoting ycompDislikedCraig, is that post deleted for sure? I would like to know what features MetaTrader has for brokers... specifically what info it passes to the broker about the EAs... e.g. does it pass the name of the EA? and such things
and can it tell the difference between orders generated by an EA and a script?Ignored
Quoting dumbmoneyDislikedI do have an ECN broker but that doesn't necessarily make it easy to make money. I've found trading difficult regardless. MetaTrader is definitely a good platform and offers a lot of usefulness and flexibility to the users. Just the fact that it is so popular proves it. My guess is that many people know what's going on and still choose to use it. So the amount that a broker takes advantage of his clients has to be minimal. If they did something obvious I think it would end up being a huge problem for them. The thing that bothers me is the issue or requotes. If I understand correctly it means that each user can be getting quoted a different price. I'd guess that it could only deviate by maybe 5-10 pips though. Much more and it would be too strange. But if those are the 5-10 pips it takes to get your stop hit, I'm not sure how much of that I could take. I want to know what it is exactly they do to manipulate the clients trades. I may never find out. If someone does know, I'd appreciate being filled in.Ignored
Quoting ycompDislikedand can it tell the difference between orders generated by an EA and a script?Ignored
Quoting brueDislikedAccording to this page:
"Trades executed on the Interbank FX servers using an Expert Advisor use a unique request and are easily identifiable."
Not sure what all that means, whether there's just an EA-specific signiature (maybe it includes the magic number?) or if it actually passes details about the EA, like its name.Ignored
Quoting brueDislikedAccording to this page:
"Trades executed on the Interbank FX servers using an Expert Advisor use a unique request and are easily identifiable."
Not sure what all that means, whether there's just an EA-specific signiature (maybe it includes the magic number?) or if it actually passes details about the EA, like its name.Ignored
DislikedInterbankfx uses metatrade but on their website they says that they are not dealing desk... What are they???
Below is text from their website:
hy Interbank FX?
Low Pip Spread
Interbank offers dealing spreads of 2 to 4 pips on the major currency pairs in normal market conditions. Because our spreads are not fixed they will fluctuate with market volatility.
No Dealing Desk
While other companies may act as Market Makers, essentially trading within their customer base, our platform allows our customers to trade in the Interbank market with no market manipulation. Our electronic access to the Interbank market also means there is no dealing desk at Interbank FX. Your trades are typically executed within one second and go directly to our banks. All of your trades with Interbank FX are completely transparent and anonymous.Ignored