Forex MegaDroid review - 12 brokerages

[hotsawce]

I implore you to explore brokers like ATC, IAMfx, and Jadefx.

Do your research, all I can say.

[Pietpatat]

Interesting discussion. But I think Ken is talking about FXCM and Hot sauwce about ATC. Both have different spread right?

I can vouch that ATC's spread is almost never above 0.8 pips. They charge $4 commission per lot, so in total you have 1.2 pips cost per trade.
So with ATC you have lower cost than with FXDD, and because ATC is a ECN NDD broker it takes the trades faster ( don't ask my why, I have only read it somewhere ).

[Ken Long]

Originally Posted by Pietpatat

Interesting discussion. But I think Ken is talking about FXCM and Hot sauwce about ATC. Both have different spread right?

I can vouch that ATC's spread is almost never above 0.8 pips. They charge $4 commission per lot, so in total you have 1.2 pips cost per trade.
So with ATC you have lower cost than with FXDD, and because ATC is a ECN NDD broker it takes the trades faster ( don't ask my why, I have only read it somewhere ).

Thanks, thats the info that hotsawce wasnt willing or able to post. I've never worked with ATC or the others he mentioned so I wasnt sure how they charged, and I didnt find them when I searched. Do you know the web address for ATC. I know its in these postings, but its back there somewhere.

Other than MegaDroid, I dont know any EA's I would trust running there, mostly because of account minimums, but I would like to check them out.


I'm glad you found that discussion interesting. I found it rather annoying. It was like trying to talk to the religious devote who cant see past their own beliefs.

[rsmereka]

Ken,

Here is ATC's URL.

Warning: NFA and CFTC as per here.

Cheers,
Rick

[Ken Long]

Thanks Rick, I had already found them just by searching previous postings. I'm opening a demo account right now, just waiting to hear from them. They're a little slow responding.

The rates are extemelly good, lower than I anticipated. Great functionality, mini and micro lots (after the first .10), IRA accounts (I have to check further, I like trading in my IRA accounts). I'm very interested in how they plan to offer partial closing abilities on the MT4 platform. This has always been a sore point with me when manual trading the MT4. Also concerned about limit orders and stop limit orders. I had heard that these werent available on ECN platforms, and they dont mention them in their FAQ's. If anyone has experience with these order types please post.

Also they seem to have had some sort of service outage in Jan. Did this cause any major problems with open positions or pending orders?

And I find it interesting that they are registerd with both the NFA and the CFTC, yet have managed to get around the restrictions without going offshore, in the same manner that FXDD did.

Also interesting that they are using FXCM's ECN feed.

Thanks, still waiting for their reply.

[Ken Long]

Originally Posted by rsmereka

Warning: NFA and CFTC as per here.

What was the warning. The link you posted didnt mention anything, and I didnt find anything else of concern.

[hotsawce]

Originally Posted by Ken Long

Thanks, thats the info that hotsawce wasnt willing or able to post. I've never worked with ATC or the others he mentioned so I wasnt sure how they charged, and I didnt find them when I searched. Do you know the web address for ATC. I know its in these postings, but its back there somewhere.

Other than MegaDroid, I dont know any EA's I would trust running there, mostly because of account minimums, but I would like to check them out.


I'm glad you found that discussion interesting. I found it rather annoying. It was like trying to talk to the religious devote who cant see past their own beliefs.

All I did was ask you to look back a few pages....10 of which are a discussion on ECN and STP brokers.

And yes, ATC, IAMfx, and the other STP brokers are GREAT. Noticeable performance differences with many EAs.

I also took the time to email ATC about the CFTC thing. They had a workaround figured out Don't worry about it with them...really.

[rsmereka]

Originally Posted by Ken Long

What was the warning. The link you posted didnt mention anything, and I didnt find anything else of concern.

Bottom of the page it says that they are a member of NFA and registered with CFTC. Just my way of saying red alert.

Rick
Friends don't let friends use NFA brokers.

[Ken Long]

Originally Posted by rsmereka

Bottom of the page it says that they are a member of NFA and registered with CFTC. Just my way of saying red alert.

Rick
Friends don't let friends use NFA brokers.

No need for an alert. They managed to work around the NFA regulations without going offshore, in the same manner that FXDD did. They simply do the NFA accounting backstage without interfering with the MT4's trading. Basically all of MT4's transactions are applied to a position based accounting system, which is in compliance with the NFA reg's.

Hedging is no different than a partial close. You add up all the individual transactions and it equals one position. FIFO is handled the same way. They simply close the oldest existing transactions first, without interfering with MT4's accounting at all. You might think you have several different orders open at once, but you cant realistically hedge with the same equity, they simply cancel each other out.

[Ken Long]

Originally Posted by hotsawce

All I did was ask you to look back a few pages....10 of which are a discussion on ECN and STP brokers.

And yes, ATC, IAMfx, and the other STP brokers are GREAT. Noticeable performance differences with many EAs.

I also took the time to email ATC about the CFTC thing. They had a workaround figured out Don't worry about it with them...really.

Right, go back and read the postings.

Whether its ECN's or trading robots, its wise to look at both sides, any and all information available, pro and con, and be aware of, and anticipate any possible problems before they occur. The simple fact that MegaDroid hasnt had many problems in the past 6-8 months of use, doesnt mean they dont exist, and doesnt mean they wont pop up unexpectedly.

Be prepared. Know your material. Anticipate any possible problems.

Consecutive losses, with a Martingale style account doubling can crush an account.

Basicaly, your playing with high risk, on the grounds that you cant lose twice.

? Since MegaDroid very rarely takes any loss (it has excellent internal trade managment), why not double the traded size constantly, and turn off the Recovery Mode? If MegaDroid can handle trading a 40-50% position size during Recovery, it should be able to handle it at other times as well. If we do a little experimenting with the backtester, we can find out how high it can comfortably go. Then we simply remove our profits periodicaly, untill we have reclaimed all our initial risk capital and it can run on its own earnings.