# Forex and Metatrader



## Whathell (8 December 2005)

Does anybody know of a reputable broker in Australia which uses metatrader 4 as the platform for trading forex??? 

I am interested in a way to automate trading and metatrader4 has this capability.


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## 123happy (21 April 2008)

I've got the save query after almost 3 years from the previous post. Seems like still none of the forex brokers here in Australia is willing to take on MetaTrader4 as their trading platform. All the money just flow overseas... any ideas why?


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## Andy_aus (21 April 2008)

Im not sure if this helps you, but for my forex trading i use ninjatrader with an IB feed.  Seems to work alrite.


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## Lev (10 March 2009)

I've just received an email from AxisTrader, they appear to be an Australian company associated with odl securities with a license to trade derivatives from ASIC, and it looks like they are on the Metatrader platform. Have been searching the forums for feedback or to see if anyone had anything to say about AxisTrader, but there's nothing. Hope that helps.


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## white_goodman (10 March 2009)

you realise GO markes have mt4.... have u been under a rock lol?


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## DB008 (11 March 2009)

I just got a phone call from GO MARKETS.

the sales guy was asking how l was doing with the demo, my reply as follows;

"I'm not really into MM's on FOREX and am looking for a FX Broker who is ECN and also has MT4 platform with EA's. MM's manipluate the price to much and have sudden spikes and lost connections."

His reply, "Next week we will be lauching GO MARKETS with ECN avaliable and use of the MT4 platform with FULL use of any EA's you can think of."

He went on to explain that ECN costs a bucket load of money to run and that GO MARKETS would have no minimum account balance.

Guess we will have to wait and see if it's true. The other option is MB Trading which have an ECN connection and MT4 platform with EA's and l think only a minimum account opening balance of $400US.


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## Stormin_Norman (11 March 2009)

ECN = marketing ploy built on suspicion.

there are retail brokers, and wholesale brokers.

those with fixed spreads, and those with variable spreads.

those with slightly lower spreads and commissions, those that make their profits solely from spreads.

those with dealing desks and those without.


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## white_goodman (12 March 2009)

DB008 said:


> I just got a phone call from GO MARKETS.
> 
> the sales guy was asking how l was doing with the demo, my reply as follows;
> 
> ...




itll be interesting to see the quality of their feed and commissions.... cos mb trading isnt up yet for live mt4....

or they might do what ibfx have done which is jsut vary there spreads when it suits on the lesser pairs to avoid TP's


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## pilbara (13 March 2009)

white_goodman said:


> or they might do what ibfx have done which is jsut vary there spreads when it suits on the lesser pairs to avoid TP's



I think all marketmaker brokers are the same.  They can look at their order book and calculate what a price movement will do to their profit.  Most traders will set Take Profit and Stop Loss levels on their trades, which gives the broker a very good idea what will happen when they move the price.  The broker will continuously calculate the effect of moving the Bid or Ask a certain amount, while taking advantage of certain liquidity levels from their provider, to make the most profit.


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## Wysiwyg (15 October 2009)

Metatrader 5 BETA out for public perusal now I notice.


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## forex4life (6 August 2010)

I use CFH markets with Alpha Broking, ECN, MT4 and a web based platform i use at work...


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## SteveinSA (8 August 2010)

Whathell said:


> Does anybody know of a reputable broker in Australia which uses metatrader 4 as the platform for trading forex???
> 
> I am interested in a way to automate trading and metatrader4 has this capability.




I recommend AxiTrader based in Melbourne. See axitrader.com.au


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## cogs (8 August 2010)

Although axitrader have some alternatives to currencies to trade they have regular requotes and delayed orders, I would say without much doubt they are running the MT4 management plugin.
Gomarkets are quick and smooth with very competitive spreads.


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## tom82 (9 November 2010)

A couple of MT4 dealers come to mind.

Go Markets
Got Money
Vantage FX
IBFX Australia
Forex.com has mt4 Australia

There may be some more.


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## TulipFX (31 December 2010)

Vantage were (I do not know if they still are) a white-label of GoMarkets.


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## tom82 (31 December 2010)

TulipFX said:


> Vantage were (I do not know if they still are) a white-label of GoMarkets.




Yes that's correct, they were an authorised representive of Go Markets.
They are now seperate companies.


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## IB12 (31 December 2010)

IBFX comes to mind.

All bucket shops use MT but.


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## TulipFX (31 December 2010)

IB12 said:


> IBFX comes to mind.
> 
> All bucket shops use MT but.




All forex brokers by definition are bucket shops as there is no central exchange.

However, most dodgy brokers do use MT4. But not all those who use MT4 are dodgy.


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## >Apocalypto< (2 January 2011)

IB12 said:


> IBFX comes to mind.
> 
> All bucket shops use MT but.




I prefer to Trade FX with gomarkets over IB ...... but futures is only with IB.


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