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Hi,
I asked my broker whether they used this plug -in. After their reply, I'm not worried :
Hi
Virtual dealer does not have enough functionality for Alpari’s business model. We require the ability to automatically execute trades, including any hedging strategies that we incorporate and the need to filter and assess a number of price feeds from our spoke banks and ECNs that are distributed to our client base. That’s why our strategy is to use our own products (server plugins etc.) and be one step ahead our competitors.
Technology is the most important component to our business and to ensure that we are always at the forefront of any developments in this expert area we have a team of developers who are constantly writing and updating programmes specific to our wants and needs.
At the moment we are working on STP technology for institutional clients. All their orders will go straight to our spoke banks, so there will be very fast (usually less than 100 milliseconds) non-dealing desk execution and our institutional clients will see very tight spreads (approx., less than 1 pip in EURUSD up to 5M under normal market conditions). This will be released very soon.
__________________
Alpari (UK) Limited
41 Eastcheap, London EC3M 1DT, United Kingdom
Tel: +44 (0)20 7648 4580 info@alpari.co.uk Forex trading with Alpari. Real time foreign exchange trading services. Free forex news, forex charts, analysis.
Alpari (UK) Limited is authorised and regulated by the Financial Services Authority.
...
Virtual dealer does not have enough functionality for Alpari’s business model.
They have a self programmed plugin with more functionality to screw traders?
Or are it just my insufficient english skills to read this between the lines?
They have a self programmed plugin with more functionality to screw traders?
Or are it just my insufficient english skills to read this between the lines?
I too would be more intimidated by that message than resting assured. From what I read the hidden message (which isnt that hidden) is that they make their own software.
The point of this thread was to point out the use of software such as this. By all means im sure Virtual Dealer is not the Microsoft of "scam the trader" software, but it sure looks endorsed by MetaQuotes non-the-less.
Anyways, dont be resting assured because you got that response.. That is the most unreassuring message you could have hoped for!
A couple of important notes: some good, some bad...
About the post with 2 order boxes showing different prices; that's not a function of the broker trying to screw you, it's just the way information is sent across the internet. Even if you have 2 accounts with the exact same broker, it's possible to get different prices from each terminal at the exact same time. Having said all of that, I also know that brokers broadcast different feeds to different customers. I worked for a major broker and I saw it first hand...
Also, "I've mentioned this before" we have to keep in mind that MT4 requires a dealing desk on the backend for it to function. The reason that ECN's don't offer MT4 is because they can't. Hopefully Metaquotes will address this in the future, but at present MT4 = Market Maker. I use and will continue to use mq4 to code my indicators and EA's, but I don't use brokers that offer MT4 unless I am using larger term trading systems. Trades with larger stops "usually" prevent the broker from screwing with your trades. However, some brokers will just flat out screw you over, no doubt about it...
Probably not what you wanted to hear, but hopefully it helps...
You said you use MT4 to code indicators and EA's, but you generally don't trade with MT4, if I understood you correctly.
So how do you use your MT4 EA's with non-MT4 brokers? Do you have an application that translates MT4 inputs and outputs to the broker's API? To make sure I keep on the subject of this thread...it IS all about avoiding the broker shenanigans.
__________________ Success is more perspiration than inspiration . . .
ALMOST every broker gives you different prices and different spreads -- some are higher and some are lower so showing two different charts only proves that brokers set their own prices vs the "real prices" from banks
whats more upsetting is the plugin that allows them to delay the time for your order executiion, so if you take profit manually, they can slip you because youre on a delay, and theyre working real time.
use LIMIT orders and NO stop losses if you can ---- Ive never had a stop hit because i simply dont use them !
enjoy and trade well
mp
__________________ KNOWLEDGE and EXPERIENCE are the handmaidens of the riches of forex, and i buy them roses every day, with many a thank you !
Deleted few same posts made by different members.
One moved here.
Please don't post same message everywhere on our forum. Keep just this thread only.
I'm wondering why the thread title after moved is not the same with the content about virtual plug-in. I think it is not only broker matters but the MT4 platform as a whole so let Lenar answer it before moved here so there is no guess that forex-tsd forum is also owned by Metaquotes.
Success is more perspiration than inspiration . . .
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