1000s of new forex brokers with one bridge to Metratrader

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andywill
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1000s of new forex brokers with one bridge to Metratrader

Postby andywill » 20 May 2014

Hello,

we could have 1000s of different new forex brokers if we had a bridge between Multicharts and MT. Because every forex broker has an integration with MT but usually not with Multicharts this would enrich the usability of Multicharts massively.

I found some websites, the bridge between Multicharts and MT is not far away if I look on those webpages. Have a look please on those links. Thank you very much in advance for considering a solution.

http://www.stevehopwoodforex.com/phpBB3 ... =28&t=1297

https://www.bigmiketrading.com/multicha ... ridge.html

http://www.goforex.net/forex-directory/ ... -forex.htm

http://www.hypertrader.it/hyperorder.shtml

The first link shows that there is a solution between Multicharts and NT and from NT to MT. The third link shows that there is a solution between Multicharts and MT with Hyperorder. So there should be direct integrated solution possible for the Multicharts support team.

Thank you.

Sincerely,
Andy

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Henry MultiСharts
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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby Henry MultiСharts » 21 May 2014

Hello Andy,

Thank you for your suggestion. You may want to submit a feature request to the Project Management of our web site so other users can vote for it: https://www.multicharts.com/pm/

All feature requests are forwarded to the management of the company and are evaluated in a timely manner. Please note that even though we value your opinion not all requests can be implemented due to the fact that some features do not fit into our current roadmap.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby andywill » 21 May 2014

Dear Henry,

thank you very much. It is already mentioned in the Projects section. I hope once you have the chance to realize it. Thank you.

Sincerely,
Andy

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby andywill » 27 May 2014

You can vote for this project here :

https://www.multicharts.com/pm/viewissu ... no=MC-1658

Sincerely,
Andy

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby tcat » 27 May 2014

Never wonder why everyone on earth can improvise himself a retail broker with MT?

It seems to me that a server where latency, spread and slippage can be adjusted at will looks like an easy money making schema.

So, rather than connecting MC to a 1000's brokers who will bring a 1000's different new problems, I would rather see MC fix the existing issues with the current providers. I do see a real benefit for MC working with real liquidity providers, meaning brokers that are higher in the food chain.

Thierry

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby andywill » 27 May 2014

Of course the existing relationships should be improved meantime until a greater solution is found with a Metratrader bridge. But please also notice that there is an offer to get commission rebates with the following link below.

If you choose Dukascopy do not forget to claim your 40% rebate of paid commissions here :

http://www.cashbackforex.com/en-us/comparebrokers.aspx

You can also save 0.7 pips RT with FXCM (UK) or AvaFX broker here.

Sincerely,
Andy

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 27 May 2014

But please also notice that there is an offer to get commission rebates with the following link below.

If you choose Dukascopy do not forget to claim your 40% rebate of paid commissions here
I think this only reinforces Tcat's point. Why would a reputable, professional broker give a 40% discount on their commissions? Doesn't that imply that their current commissions are overpriced?

While I think that discounts based on volume are reasonable (due to declining costs for a high volume customer), I personally find it somewhat arbitrarily to give traders with the same volume different commission costs depending on how/where they signed up. Sounds more like a poker company this way.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 28 May 2014

TSS should explain why they do not propose connexion with Oanda or Gain Capital, major players in the forex ;-)
Forex Brokers

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby andywill » 28 May 2014

But please also notice that there is an offer to get commission rebates with the following link below.

If you choose Dukascopy do not forget to claim your 40% rebate of paid commissions here
I think this only reinforces Tcat's point. Why would a reputable, professional broker give a 40% discount on their commissions? Doesn't that imply that their current commissions are overpriced?

While I think that discounts based on volume are reasonable (due to declining costs for a high volume customer), I personally find it somewhat arbitrarily to give traders with the same volume different commission costs depending on how/where they signed up. Sounds more like a poker company this way.

The rebates are based on high volumes, but not on a single account per user but on multiple users. So a large group of customers can achieve a higher rebate. Same thing if you have a lot of funds or high trading volume and want a rebate, you will get it. Here the users are just formed to one group claiming their rebates. But in reality it is just nothing then using a link, because everything behind is well organized.

So it is high volume and nothing else over multiple users. By the way if you claim FXCM and many others would not be serious thats your opinion. I just want to clarify that this rebate procedure is fair, because of the very high volume of ONE group (cashbackforex company). If more people join them they can get better rebates, so nothing unspectacular.

And do not forget that banks have an advantage in Forex trading with their high volume and credit rating. So it is an advantage for the retail user to build a community like cashbackforex to strengthen the own position in the marketplace. And if you compare the conditions of fees between banks, institutionals with retail customers then such a kind of rebate is really unspectacular.

Sincerely,
Andy.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 30 May 2014

An example of a new broker :?: that uses the FIX protocol (used with Dukascopy) and which MultiCharts could connect easily, without any new technical development ... ;-)
exante

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 30 May 2014

An example of a new broker :?: that uses the FIX protocol (used with Dukascopy) and which MultiCharts could connect easily, without any new technical development ... ;-)
exante
As far as I know, the FIX protocol provides no historical data (just like the MC Dukascopy connection).

Personally, I don't think it will be worthwhile without historical data. Even if you run MultiCharts 24/5, data connection problems or crashes will create data gaps. That makes historical backfill mandatory, in my view.
TSS should explain why they do not propose connexion with Oanda or Gain Capital, major players in the forex ;-)
Forex Brokers
See Oanda & MC.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 30 May 2014

It is on this point that I would like to have confirmation:
Is the FIX protocol prohibits backfill?
Are there any workarounds for this constraint?

As for the discussion Oanda & MC, I indeed wrote the last but one message and it was on January 2012...

And that's what worries me to see that since all this time, there is nothing new ... and still no ability to connect MC with a serious forex broker :!:

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 30 May 2014

And that's what worries me to see that since all this time, there is nothing new ... and still no ability to connect MC with a serious forex broker :!:
I think MultiCharts would be much better off in the long term to give users the option to create their own connections (instead of charging for that) or otherwise create some Kickstarter-like webpage were the interested users can pledge money and, if the target is reached, the MultiCharts programming team is "hired" to implement the connection.

The way it seems to be now, where MultiCharts and the broker need to work out some kind of (financial) agreement, is terribly slow, partly because forex brokers can do without MultiCharts, but the other way around this is less so.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby TJ » 30 May 2014

Most of the bucket shops do not want 3rd party software,
because they can better "manage" their client activities through their own software.
I would not go further here; this is not the forum for it.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 30 May 2014

Most of the bucket shops do not want 3rd party software,
because they can better "manage" their client activities through their own software.
I would not go further here; this is not the forum for it.
So if I understand correctly, there is no future with MultiCharts to autotrade forex :?:

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 30 May 2014

Most of the bucket shops do not want 3rd party software,
because they can better "manage" their client activities through their own software.
I would not go further here; this is not the forum for it.
I thought it, but you said it. :)
So if I understand correctly, there is no future with MultiCharts to autotrade forex :?:
That's not what TJ says. He says that some brokers don't want to give up control of their 'managing' activities, but that is not to say that all forex brokers are resisting MultiCharts. Proof of that can be found in the supported brokers list, which already have forex brokers.
By the way if you claim FXCM and many others would not be serious thats your opinion.
I did not mention FXCM; it is not the best example in this discussion for more forex brokers.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby TJ » 30 May 2014

Most of the bucket shops do not want 3rd party software,
because they can better "manage" their client activities through their own software.
I would not go further here; this is not the forum for it.
So if I understand correctly, there is no future with MultiCharts to autotrade forex :?:
For some bucket shops, this is correct. They don't want 3rd party software; none whatsoever, including your favorite.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 30 May 2014

For some bucket shops, this is correct. They don't want 3rd party software; none whatsoever, including your favorite.
What is missing in MultiCharts so that the forex brokers want to adopt this 3rd party software?
(It is important to know if there is at least one solution and if this is considered by TSS or if the current forex offer is the optimum that can get TSS!)

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 01 Jun 2014

For some bucket shops, this is correct. They don't want 3rd party software; none whatsoever, including your favorite.
What is missing in MultiCharts so that the forex brokers want to adopt this 3rd party software?
(It is important to know if there is at least one solution and if this is considered by TSS or if the current forex offer is the optimum that can get TSS!)
For example, Videos of MT Manager, Administrator, virtual dealer and other plugins/setting. Don't expect to find those videos on YouTube anymore though; MetaQuotes had them removed. (Similar thread here).

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 01 Jun 2014

Thanks JoshM, I remember these threads... and those videos... which are certainly still available on a torrent ;-)

But the quirks are not exclusive to MT4 :-D

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby TJ » 01 Jun 2014

Yakalfer: You have been around for a long time, you should know better.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby StratMan » 01 Jun 2014

Yakalfer: You have been around for a long time, you should know better.
I'm pathologically optimistic ...

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby TJ » 01 Jun 2014

It is ok to be "wishful"... but don't make it out as if MC is denying you a favor.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby khalaad » 05 Jun 2014

Hello,

we could have 1000s of different new forex brokers if we had a bridge between Multicharts and MT. Because every forex broker has an integration with MT but usually not with Multicharts this would enrich the usability of Multicharts massively.

I found some websites, the bridge between Multicharts and MT is not far away if I look on those webpages. Have a look please on those links. Thank you very much in advance for considering a solution.

http://www.stevehopwoodforex.com/phpBB3 ... =28&t=1297

https://www.bigmiketrading.com/multicha ... ridge.html

http://www.goforex.net/forex-directory/ ... -forex.htm

http://www.hypertrader.it/hyperorder.shtml

The first link shows that there is a solution between Multicharts and NT and from NT to MT. The third link shows that there is a solution between Multicharts and MT with Hyperorder. So there should be direct integrated solution possible for the Multicharts support team.

Thank you.

Sincerely,
Andy
Sorry, Andy, the first link does not show what you think it shows!

Besides, why would you want to send trades from MultiCharts to CrapTrader4 (aka MT) unless you wish to use a MultiCharts functionality which cannot be coded in MQL, or a dll?

Why not send orders straight from CrapTrader4?

Khalid
Last edited by khalaad on 07 Jun 2014, edited 1 time in total.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby khalaad » 05 Jun 2014

Sorry, Andy, the first link does not show what you think it shows!

Besides, why would you want to send trades from MultiCharts to CrapTrader4 (aka MT) unless you wish to use a MultiCharts functionality which cannot be coded in MQL, or a dll?

Why not send orders straight from CrapTrader4?

Khalid
A MultiCharts to CrapTrader4 bridge is likely to increase latency by a factor of 2. Please remember the strength of a chain is the strength of its weakest link.

Khalid

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby khalaad » 07 Jun 2014

And that's what worries me to see that since all this time, there is nothing new ... and still no ability to connect MC with a serious forex broker :!:
I think MultiCharts would be much better off in the long term to give users the option to create their own connections (instead of charging for that) or otherwise create some Kickstarter-like webpage were the interested users can pledge money and, if the target is reached, the MultiCharts programming team is "hired" to implement the connection.

The way it seems to be now, where MultiCharts and the broker need to work out some kind of (financial) agreement, is terribly slow, partly because forex brokers can do without MultiCharts, but the other way around this is less so.
Josh,

This is a splendid idea. :)

I am sorry I missed this when I went through the thread a few days ago.

For reasons other than economy of scale, a multi-user "hiring" is better than the single-user.

Khalid

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 12 Jun 2014

A MultiCharts to CrapTrader4 bridge is likely to increase latency by a factor of 2. Please remember the strength of a chain is the strength of its weakest link.
What is the typical latency of MT, btw? As I recall, this latency is also dependent on the broker "settings" so to speak. Is that correct?
Besides, why would you want to send trades from MultiCharts to CrapTrader4 (aka MT) unless you wish to use a MultiCharts functionality which cannot be coded in MQL, or a dll?

Why not send orders straight from CrapTrader4?
I can understand why people want a MultiCharts - MT bridge since this save the time investment into learning MT4 programming. If you're already using MC, it can be a lot of work to convert existing indicator/strategies.

Which program do you now use to trade forex, Khalid? I took from another thread that you're not using MultiCharts for that.
we could have 1000s of different new forex brokers if we had a bridge between Multicharts and MT. Because every forex broker has an integration with MT but usually not with Multicharts this would enrich the usability of Multicharts massively.
How would such a bridge need to work, in practice? For automated trading, this can be done programmatically in MC. But for manual trading, I don't see a nice way to create a "GUI" in MC so that traders can work with such a bridge. Or would an additional app be needed as a Chart Trader substitute? And will an app between MultiCharts and MT be needed to provide risk management and log events?

It would be interesting to see if such a thing can be made.

Edit: Added question.

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby khalaad » 12 Jun 2014


What is the typical latency of MT, btw? As I recall, this latency is also dependent on the broker "settings" so to speak. Is that correct?
Yes, Correct. The quality of user’s Internet connection is also a factor. In my experience CrapTrader4 fills are almost never before the third tick change after the click.
I can understand why people want a MultiCharts - MT bridge since this save the time investment into learning MT4 programming. If you're already using MC, it can be a lot of work to convert existing indicator/strategies.
Indeed. MultiCharts comes with many more advantages; but the push-start is a huge drawback.
Which program do you now use to trade forex, Khalid? I took from another thread that you're not using MultiCharts for that.
OANDA’S fxTrade, and CrapTrader4! But my homework and analysis is exclusively in MultiCharts.
How would such a bridge need to work, in practice? For automated trading, this can be done programmatically in MC. But for manual trading, I don't see a nice way to create a "GUI" in MC so that traders can work with such a bridge. Or would an additional app be needed as a Chart Trader substitute?
Were one to program a bridge, I would recommend it be only for automated trading; the manual orders can always be entered directly via CrapTrader4.
And will an app between MultiCharts and MT be needed to provide risk management and log events?
Absolutely.
It would be interesting to see if such a thing can be made.
Technically, it is doable, I think. And although I am not keen on such a thing, a TSSupport approved / supported bridge should help MultiCharts get more customers.

Khalid

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby JoshM » 12 Jun 2014

Technically, it is doable, I think. And although I am not keen on such a thing, a TSSupport approved / supported bridge should help MultiCharts get more customers.
I agree, besides being an interesting project it would also benefit the community.

Would you be interested in exploring how to create such a bridge ourselves, so that it meets professional high standards without being a rush-job? If so, drop me a PM, and if you're not, that's okay too. :)

(This also applies to other users reading this thread, btw).

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby khalaad » 12 Jun 2014

Technically, it is doable, I think. And although I am not keen on such a thing, a TSSupport approved / supported bridge should help MultiCharts get more customers.
I agree, besides being an interesting project it would also benefit the community.

Would you be interested in exploring how to create such a bridge ourselves, so that it meets professional high standards without being a rush-job? If so, drop me a PM, and if you're not, that's okay too. :)

(This also applies to other users reading this thread, btw).
Josh,

You have a superlative record of excellent contributions here; I am right behind whatever you decision you make. I am a MultiCharts user since 2006, and also been using CrapTrader4 ever since OANDA brought out theirs in 2010, and shall do my best to be of help.

Khalid

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Re: 1000s of new forex brokers with one bridge to Metratrade

Postby andywill » 18 Jun 2014

http://www.mt4api.net/

This API from MT might help the team of Multicharts to integrate it with Multicharts Software.

http://www.zagtrader.com/home/pages/en/serve.php?p=mt4

Maybe this might also be helpful to do this project.

https://www.multicharts.com/pm/viewissu ... no=MC-1658

Please vote here.

With this it would be possible e.g. to trade on Currenex without any broker, because there is already a bridge between MT 4 and Currenex.

http://www.tradespotfx.com/MT-4-bridge.html

Andy


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