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I place live orders on their Navigator platform, and can turn off the software or my computer once the order is in their system. They hold all current positions, stop and limit orders on their side, not on the client side. I would expect MT4 to work the same (although I am not a beta tester for them). They do have a brief rollover period around midnight each night, for about 5-10 minutes, where there are no price updates or trades allowed. Not sure if this will also be the case for MT4 when its implemented.
One thing I do like about MT4 that Nav doesn't have, is that it shows your trade history in an ongoing fashion, on the screen. In Nav, your history basically disappears each day, unless you pull up a report.
Toblerone,
All MT4 orders are server held; not client held.
Correction: We no longer have midnight maintenance, it is only at 5pm EST now.
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
Justin,
Just read your post from July 30th on the impact of the NFA FIFO changes on your MT4 rollout. Its understandable that this throws off your development / testing cycle, but it also brings up a couple questions in my mind.
1. Does Metaquotes know what issues you have when they change their software, how it would impact the interface to an ECN? Do they care?
2. Won't any future updates to Metatrader have a possibly damaging effect on your customized implementation of their product? How will you handle future product updates from them?
Just wondering about these things. I'm currently a live trader using Nav and I use other broker's MT4 demo accounts for charting. I could use MBT's Metatrader feed for charting, but I don't think you're out of the woods yet as far as stability. I like the fact that my trading system's indicators are kept separate from my trades, so maybe I'll stick to that anyway.
Navigator has actually gotten easy to use, once I put all the windows where I wanted them.
I love this quote "Navigator has actually gotten easy to use, once I put all the windows where I wanted them". That is very true. Once traders take the time to custimze the platform to their needs, it actually is quite simple.
Regarding your questions:
1. Does Metaquotes know what issues you have when they change their software, how it would impact the interface to an ECN? Do they care?
Yes, Metaquotes is well aware of all FIFO issues and we worked extremely close with them these past couple months to implement all changes required, and to preserve the integrity of our ECN capabilities. At this time all necessary changes have been put in place and are being test right now.
2. Won't any future updates to Metatrader have a possibly damaging effect on your customized implementation of their product? How will you handle future product updates from them?
I don't think so. Both groups are very familiar with each others needs and all future updates will only be implemented, after it is determined those updates will not have a negative impact on the stability of the platform.
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
Thanks for checking in on this forum Justin - wish I could use forexfactory but it's blocked from my work PC. Good to hear things are coming along on the MT4 front, I plan to use it once it's released. Also good to hear MB has a relationship with Metaquotes.
-toblerone2 (pidgeon on FF)
__________________
The greatest power is often simple patience.
Wednesday, September 23rd we will be opening up the Beta application for MT4 users for the last time. It should be open around 12:00 PM PST for most of the day, providing sufficient time to submit your application.
I will post here on Wednesday when it opens, but feel free to email me at justin@mbtrading.com to be added to the announcement list. Additionally, you can add yourself to twitter.com/mbtrading for updates as well.
__________________
Justin LeBlang
Business Development
MB Trading
Stocks. Futures. Options. Forex. justin@mbtrading.com
We have opened our On-Line Forex Application to accept a certain number of MetaTrader 4 accounts for public beta testing. This will be the final round of beta applications before live production. If you are interested in becoming a beta tester of MT4 with an ECN, please read through the following information and follow the links to start your application.
There are a couple of things that you need to know if you are going to fill out the application while it is open.
• You will have to sign a Beta Testing Agreement before you will be allowed to fund your account and trade.
• You will need to fund this account within 5 business days of account approval or we will be closing the account until we are out of Beta.
Once we are out of beta, you will be able to continue using your new account once the Beta has ended. Please note that Nav accounts and Meta accounts are now compatible, but you will still need to open a new account at this time to use MetaTrader 4. You will end up with Navigator and MetaTrader 4 accounts with the same account numbers. All statements are generated through our on-line FIFO statement process. MetaTrader statements have been disabled due to the new NFA FIFO requirement.
Finally, if you plan to run EAs in this account, please be sure that you have read about the differences between deal desk MetaTrader and ECN MetaTrader here:
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