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Quick Update: We are waiting on final clarification right now from the NFA on our FIFO changes. As it currently stands we feel very confident we will meet all requirements for both the Navigator and Metatrader with little or no change on the front-end for our clients.
I’ll be making an official announcement in the coming week or so and at that time we will again open the Meta app for more beta users.
Thought I share a conversation that I just had with the MBT Live Help .
I have 2 live accts with MBT and use the mt4 demo to chart. The demo has been unavailable since NY time 12:00 and it is still unavailable.
Reason given is some update is being done and should finish by Monday.
MBT does not give any heads up thru the message section on mt4 of this.
They just shut it down.
After much query the LiveHelper just stopped answering my questions.
I'll leave whatever impression given by MBT for your own judgement
__________________ Price and timing is all thats important for pips.
Thought I share a conversation that I just had with the MBT Live Help .
I have 2 live accts with MBT and use the mt4 demo to chart. The demo has been unavailable since NY time 12:00 and it is still unavailable.
Reason given is some update is being done and should finish by Monday.
MBT does not give any heads up thru the message section on mt4 of this.
They just shut it down.
After much query the LiveHelper just stopped answering my questions.
I'll leave whatever impression given by MBT for your own judgement
Joshua,
Who were you speaking with on LIve Helper that just stopped answering your questions?
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
This post is to address questions and concerns about the current state of MT4 and is directed at no one particular person, but rather post from multiple sites.
1) We have a couple of hundred Live Beta users. The Live environment has been functioning now for four months. We’ve had no issues with trades, connections, or anything in the Live environment for over a month.
2) When rolling out a software product, we can’t just look at one day and say, “OK, no issues, we’re good to go.” We have a threshold of number of days in the Live environment without issues to meet before we can go wide with the product. It is safe to say that that threshold had been met by the trading in the last month. We have a lot of extremely active Live users employing active EAs as well as manual traders.
3) The issue now is FIFO. Because of that new rule, MetaQuotes needed to update their software, which includes the Meta Servers and the Meta Client (what you use as a customer) and other components. Keep in mind that we are not a desk, so whatever their solution was going to be, the issue was whether or not their changes would affect how our “bridge,” if you will, worked with their new server implementation. Keep in mind that their fix completely changed how positions were handled, and that is all inside of Meta, which is deal desk software. We have to make it so that our bridge takes that information and properly applies it to orders passing through the ECN. We didn’t get the MetaQuotes FIFO update until less than two weeks ago. It came as no surprise to us that it completely threw off how our system interacted with MT4. So, we already had in motion a different solution, which we are now employing. This solution is actually more robust because it will continue to allow the full EXISTING (non-FIFO adjusted) functionality of the MetaTrader platform AND will now allow you to trade the same account through the Navigator if you wish and get your statements on-line like a Nav account instead of through MetaTrader (because our statements are FIFO-based and the MetaTrader ones aren’t).
While this requires no changes in how the orders interact with Meta and our ECN, it is a significant structural change at the backoffice side in terms of accounts and reporting. Obviously, we’re about done with the implementation. We were, as many of you know, adding Live Beta users almost every week up until about three weeks ago. We stopped that while we worked on this FIFO adjustment. Once it is complete, once again, we need to make sure that it runs fine with the Beta testers that we have and get any additional feedback. As no issues arise, then we will start adding Beta testers again, but since we already know the trading component is working, we won’t need to add too many before we take off the Beta label.
So there is your update. The rumors of issues with our MetaTrader are greatly exaggerated. For the most part, there is a reason that no one else has successfully separated MT4 from the desk features in the past. However, I can tell you that the people that are in our Beta, some of whom have commented on these boards, are extremely pleased with how it is working. By the way, for those that run EAs that actively trade both directions and are affected by hedging not working, we already have customers that have a solution in the Live environment. They are opening two accounts and adjusting the EAs to run the same variables but only trigger the longs in one account and the shorts in another. FIFO won’t really have an impact as it is really a reporting/statement issue from our perspective, so you should be able to use MT4 as it was meant to be used, with hedging handled by having two accounts, and no other limitations and no “deal desk” issues very soon.
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
For the most part, there is a reason that no one else has successfully separated MT4 from the desk features in the past.
Hi Justin. Good to hear the FIFO problem isn't going to affect your beta too much. I just wanted to pull you up on the above statement
FXOpen has successfully separated MT4 from the dealing desk on their live ECN accounts already.
You aren't the only one. But this is a good sign for all that the days of the dealing desk are coming to an end. At least for the more serious traders out there.
FXOpen has successfully separated MT4 from the dealing desk on their live ECN accounts already.
They aren't CFTC / NFA regulated though. MBT is, which, as I understand, is a good thing. I'm new to the Forex market though so feel free to call me out on that. I'm waiting for MBT to be ready before I go live for the first time.
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