Forex MegaDroid review - 12 brokerages

[twentynine]

Hi guys, Ken, pipsbuster

1) re Maximizer --

Ken, If you are still interested in Forex Maximizer, I've got two Myfxbook accounts open, one for Alpari UK and one for IamFX:

http://www.myfxbook.com/members/AJR2...im-alpuk/34516
http://www.myfxbook.com/members/AJR2...im-iamfx/34548

I backtested this EA and these are my settings:

GBPUSD
LotSize: 0.4

GBPJPY
Breakout: 6
ATRPeriod: 91
UseBreakEvenSL : true
BE_After: 30
LotSize: 0.1
StartingHour: 00:00
EndingHour: 23:59

I've only just opened the demo accounts, but they seem to be set for a volatile ride, which is not really what I'm looking for. I have some time left before the "trial period" runs out, so let's see what happens.

I will post this bit on Rick's Maximizer thread for discussion there...


2) re MegaDroid --

My experience with MD has so far also been great.

http://www.myfxbook.com/members/AJR249/eamegadroid/6189

However, not AS good as that of pipsbuster. Both pipsbuster and I had a big losing trade on 26 May, but it made a much bigger dent in my account. Apparently we are both using the same settings, RiskLevel 0.3 and otherwise default.

Did you experience the same losing trade? Or did your settings with Recovery Mode off and the NFA Mode on help? Other differences between pipsbuster's account and mine which somebody might have an opinion about are:

pipsbuster's broker : FXPro.com vs my broker : Alpari UK
his 1:500 leverage vs my 1:100 leverage

Thank you
Armin

[pipsbuster]

Originally Posted by twentynine

pipsbuster's broker : FXPro.com vs my broker : Alpari UK
his 1:500 leverage vs my 1:100 leverage

Thank you
Armin

That explains the difference between our results, Armin.

[Ken Long]

Originally Posted by twentynine

However, not AS good as that of pipsbuster. Both pipsbuster and I had a big losing trade on 26 May, but it made a much bigger dent in my account. Apparently we are both using the same settings, RiskLevel 0.3 and otherwise default.

Did you experience the same losing trade? Or did your settings with Recovery Mode off and the NFA Mode on help? Other differences between pipsbuster's account and mine which somebody might have an opinion about are:

pipsbuster's broker : FXPro.com vs my broker : Alpari UK
his 1:500 leverage vs my 1:100 leverage

Thank you
Armin

None of my accounts show this trade on May 26 at all. There were good trades on the 20th and 21st and then several good trades on the 27th, but nothing in between. I doubt this has anything to do with the different settings as much as the brokers we're using. Recovery Mode and NFA Mode have nothing to do with the trades it chooses, only position size and multiple open trades.

[rsmereka]

Originally Posted by twentynine

Both pipsbuster and I had a big losing trade on 26 May, but it made a much bigger dent in my account. Apparently we are both using the same settings, RiskLevel 0.3 and otherwise default.

Did you experience the same losing trade? Or did your settings with Recovery Mode off and the NFA Mode on help? Other differences between pipsbuster's account and mine which somebody might have an opinion about are:

pipsbuster's broker : FXPro.com vs my broker : Alpari UK
his 1:500 leverage vs my 1:100 leverage

Thank you
Armin

Hi Armin,

I experienced no losing trade on May 26 and my broker is Alpari UK. There was no trade that day for me. There was on May 25 23:17 (open) to May 26 00:22 GMT but it was a winner at more than 10 pips.

Rick

[Ken Long]

I think most of us have seen this kind of action before with Megadroid. Sometimes it will open similar trades on all platforms, but other time the trades will be quite different without much reason why other than the specific broker or the internet connections.

[pipsbuster]

Originally Posted by Ken Long

None of my accounts show this trade on May 26 at all. There were good trades on the 20th and 21st and then several good trades on the 27th, but nothing in between. I doubt this has anything to do with the different settings as much as the brokers we're using. Recovery Mode and NFA Mode have nothing to do with the trades it chooses, only position size and multiple open trades.

Believe me or not, the broker you are using matters a lot. I've been getting a lot more trades with the same EAs on my FXPro, IamFX, and ATCBrokers accounts than on my FXDD or Alpari ones.

[rsmereka]

Originally Posted by pipsbuster

Believe me or not, the broker you are using matters a lot. I've been getting a lot more trades with the same EAs on my FXPro, IamFX, and ATCBrokers accounts than on my FXDD or Alpari ones.

Ok, Lets talk brokers,

First of all what EA's besides MD are you referring to? Are these accounts live or demo. If they are live, please rate the brokers in terms of the EA's impact on the account.

Is ATC an ECN broker ? Do they charge commission in addition to or instead of the rollover fees?

Rick

[Ken Long]

Originally Posted by rsmereka

Is ATC an ECN broker ? Do they charge commission in addition to or instead of the rollover fees?

ATC is an ECN broker and they do charge a 0.8 pip commision, this is in addition to rollover which they refer to FXCM's platform for numbers on. FXCM is their price feed provider. The minimum deposit is 5K, and the smallest lot is 0.1. They have the same problems with varriable and unstable spreads as FXCM, durring news volitility or durring the off hours the spreads can grow quite wide. Right now the spread on the eurusd is bouncing between 0.8 and 1.0 pips, but its generally a bit lower. Not a great bargin for testing EA's considering that the side commisions are taken out of the EA's profits and not factored into the trades. However, the low commisions do seem to add a few trades, but not very many.

FxPro no longer accepts US customers, and I've heard its the same for Canadians. Pipbuster recomends stsarting an offshore business to work from, but this isnt that easy just to get a certain forex broker . When I had an account with them they had amazing spreads with no side commisions and great services. The biggest drawback that I could see was that they were located on the island of Crete, home to many scams and not the place I would trust any large amount of my capital.

[pipdetector]

FXCM feed for ATC was something that made me think about it twice. I have had not to good experiences with FXCM with Boston Technology bridge, so ATC would need to have a real edge to make it worthwhile to switch brokers... Right now I am demoing MD Pro on ATC and it seems to fare better than on FXCM.

As to FX Pro -- its located on Cyprus -- which I am afraid does not help much :-)

[pipsbuster]

Originally Posted by pipdetector

FXCM feed for ATC was something that made me think about it twice. I have had not to good experiences with FXCM with Boston Technology bridge, so ATC would need to have a real edge to make it worthwhile to switch brokers... Right now I am demoing MD Pro on ATC and it seems to fare better than on FXCM.

As to FX Pro -- its located on Cyprus -- which I am afraid does not help much :-)

Yes, ATC is an IB for FXCM, but FXCM only serves as their liquidity provider. As for FXPro, Cyprus is an EU member state, so there's nothing to worry about. Problem is, FXPro no longer accept US customers. My top option would therefore be IamFX.com - low trading minimum required (in contrast to ATC) and US customers accepted (in contrast to FXPro).