Barriers that make MetaTrader unattractive to big brokers

[Rastarr]

Yeah I read that reply on their forums the other day, scorpion.

I simply can't believe any broker would process transactions manually, despite the brokering house's size. Can you imagine the volume ? Yikes

Martin

[sccz97]

Originally Posted by scorpion

Yes, IBFX is likely automatic. I'll email them to make sure.

while ibfx is most likely automatic (as stated on their website) this will not be the case round figures.

[scorpion]

A quick reply from FXDD:

Our system confirms trade automatically with Live accounts. The system can automatically confirm ticket orders for up to $5M.

Clifford S. Toy
FXDirectDealer, LLC
75 Park Place, 4th Floor
New York, NY 10007
212-791-3950

[scorpion]

Reply from InterbankFX:

Dear Sopheap,

All trades are processed automatically. We do not have a dealing desk. You can trade up to 100 lots per click in a standard account. In a mini account we only allow up to 50 lots per click.

Regards,

Matthew T. Schutjer
Customer Relations
Interbank FX, LLC
Old Mill Technology Center
6322 South 3000 East, Suite 240
Salt Lake City, Utah 84121

[scorpion]

Reply from Neurx.ch:

Dear Sopheap,

we have the right to check trades before execution - until this very say we never executed this right. Normally all trades are executed automatically. For sure we can check and store every trade - we have to do this.


With kind regards
Klaus Richter
Neurex AG
Dreikoenig-Strasse 45
CH - 8002, Zuerich
Switzerland

[scorpion]

At last a reply from Alpari:

Здравствуйте,

Our company confirms manually in real money account.

---
Дилинговый центр "Альпари"

http://www.alpari-idc.ru
тел. (095) 29-111-29

[TraderSeven]

Originally Posted by scorpion

At last a reply from Alpari:

Better set your slippage value high then...

Only useable for long term traders I think.
Imagine someone that trades 1 minute bars. How many bars will have past until the order is transfered. How about a panic situation at high volatility markets. Or at night...

[TraderSeven]

Reply from Neurx.ch:

Strange they have a right to check trades?
I would think their only right is to guard your margin.
I'm maybe to sceptical but I'm afraid if a client files a complaint that he lost money due a slow (or down) system at the brokers end they just tell you they are excising their right to interfere with my trades/money.

[scorpion]

Now I trust only USA-based brokers like FXDD and InterbankFX. The Neurex (swiss) can requote, and Alpari (russian) always requote.

[Rastarr]

I tend to agree on the US based brokers.
I know guys who have used FXDD for a great many years with little to no problems. And with all the spreads getting dropped, it's just getting better

Cheers
Martin