# ECN broker with MT4



## >Apocalypto< (22 November 2008)

Wanted to make all the ASF members aware of ATC Brokers.

http://www.atcbrokers.com/

I don't work for them nor do I get anything from giving them a plug. I think they're special and should be made known about as they are to my knowlage the first and only true ECN broker that offers the feed on Metatrader 4

Based in California USA they're a white label for HotSpot FX. ypou're trading and seeing Hotspots feed. I am using their demo and this will be my next broker after Alpari.

Upside ECN straight though no dealing desk, interbank spreads, $3500US min to open account. Can trade mini contracts (not sure yet how that works on the interbank) Downside $4 a side brokerage a bit high but if you're not a scalper then little impact. Not as fast order execution as I would have expected.

Working on bank spreads on high times give u 0 spreads (EUR/USD) but low times expect higher as you're not with a MM anymore.

all the best.


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## BentRod (22 November 2008)

Joe,

     Would this mean an MT4 with no requotes?

Looks good if so.

cheers


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## >Apocalypto< (22 November 2008)

BentRod said:


> Joe,
> 
> Would this mean an MT4 with no requotes?
> 
> ...




I have never had a requote while I have used the demo.

But that said I have never put though an order that was under a 100KStandard.

Hey Bent must say nice team work on that everyonerich..... how did you find his posts on that wealth site? I was sus as hell on him.


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## everyonerich (23 November 2008)

All brokers REQUOTE.

DO NOT deposit any money until you find out whats their NFA ID.

http://www.nfa.futures.org/basicnet/


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## Wysiwyg (23 November 2008)

Why not deal with HotspotFX

 No-requotes 

*Depth of market* 

Hedging capability 

*One-click dealing *

*Complete anonymity *

Place your own bids and offers 

Online Reporting Module 

*Automated order execution. No dealing desk.* 

Market, Limit, Stop, OCO and Trailing stop orders


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## Wysiwyg (23 November 2008)

Oh ATC offers xtrader too.Does look the goods on further inspection.


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## >Apocalypto< (23 November 2008)

Wysiwyg said:


> Why not deal with HotspotFX
> 
> No-requotes
> 
> ...




well in a way you're dealing with Hotspotfxi.

main reaon is ATC offers minis METATRADER4.

Hotspot are working on MT4 once done i will be with em for sure due to their commissions are very good.

Hotspot have the worst platform dull bank platform. plus 7K us to open an account and no minis. lowest is 100K lot.

all really depends on what u need.


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## everyonerich (23 November 2008)

*<<deleted>>

Mod note:

Scout for clients elsewhere.

And nobody cares that you moved your sales pitch to another forum.*


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## BentRod (26 November 2008)

Wysiwyg said:


> Oh ATC offers xtrader too.Does look the goods on further inspection.




X-trader is only for Futures though, no good for spot.




> Hey Bent must say nice team work on that everyonerich..... how did you find his posts on that wealth site? I was sus as hell on him.




Google  :



> I have never had a requote while I have used the demo.




They would scare off customers if they did requotes on demo.....that is why no demo will have requotes.

Regarding this broker, why do they have on the webpage... "offical release date mid July 2008"???


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## caribean (26 November 2008)

Hey Apocalypto, interesting broker, good to see you around mate.


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## >Apocalypto< (28 November 2008)

forexfs said:


> Try MT4 with Australian broker Forex FS  www.forexfs.com.au




you're not an ECN you're just another market maker

what's with the minimums to open accounts I can get better spreads from other Australian brokers on no minimum.

I see at 100K you offer 1-3 would that be on currenex. in low liquidity times can u guarantee the 1-3 pip spreads or will they expand? 

you have MT4 a plus. I would not join with u as I can go to Gomarkets for a dealing desk with under 10K and use MT4 with 2 pips on EUR/USD. plus get the same leverage


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## white_goodman (30 November 2008)

>Apocalypto< said:


> you're not an ECN you're just another market maker
> 
> what's with the minimums to open accounts I can get better spreads from other Australian brokers on no minimum.
> 
> ...




served


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## Stormin_Norman (30 December 2008)

what's ATC's working capital?

ill pay a pip or two extra if the company is well funded. i want my trading earnings paid out.


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## AbundantIncome (27 January 2009)

Stormin_Norman said:


> what's ATC's working capital?
> 
> ill pay a pip or two extra if the company is well funded. i want my trading earnings paid out.




Entering Forex with caution after being burnt by the stock market. Talking about great timing, burnt by the bear market. 

Anyway, what are the companies to avoid with issues not paying out ???

Am really needing to earn something on a regular basis, been living on debt for the past year or so ???

Any kind mentor with great trading record to start me off ? 

I am wondering about ECN style companies. I am wary after experiences with some market maker, starting with C which I am sure many have gone though the same thing. After some research after, lots of people going through the same issue. I had a few dodgy trade. Once I successfully appealed. I did not do anything and a trade was made !!!

Geez, why people do things like this ??? It is hard as it is to make a living off such profession as a trader. Why don't they just make it a fair system for everybody to get involved in ?

Anyway, enough of the rants. So, I am wondering if there are companies offering ECN with no monthly data fees etc ??? I wanna try to lower my monthly expenses as low as possible while I learn. Of course I can try the demo but it is not the same thing when the monies are on the line ???

I just want to try out with 10k, not any more to start with.

Thanks in advance.

Cheers


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## white_goodman (27 January 2009)

MB Trading will be launching MT4 soon aswell... $5 one way per $100,000 contract for USD cross pairs... equivalent to 1 pip for both ways... supposedly thats pretty high tho for an ECN... but surely if you save a few pips on spread, you can afford to pay 1 pip?


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## Stormin_Norman (27 January 2009)

OandA.

they dont offer MT4 but they have the lowest transaction costs, ive never had a drama with them manipulating prices or the like and always pay out.

they have excess capital of $160USD million.

for retail traders i dont think there is a better broker.


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## CanOz (28 January 2009)

Stormin_Norman said:


> OandA.
> 
> they dont offer MT4 but they have the lowest transaction costs, ive never had a drama with them manipulating prices or the like and always pay out.
> 
> ...




Agree with Stormin about Oanda, very professional bunch, i think they almost want you to trade well, they provide that many resources.

Cheers,


CanOz


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## AbundantIncome (28 January 2009)

white_goodman said:


> MB Trading will be launching MT4 soon aswell... $5 one way per $100,000 contract for USD cross pairs... equivalent to 1 pip for both ways... supposedly thats pretty high tho for an ECN... but surely if you save a few pips on spread, you can afford to pay 1 pip?




Ok... do they provide the data feed etc ?



Stormin_Norman said:


> OandA.
> 
> they dont offer MT4 but they have the lowest transaction costs, ive never had a drama with them manipulating prices or the like and always pay out.
> 
> ...




cool, what software do we need to use if they are not offering MT4 ? Based in Australia, Brisbane, how easy is it to apply for an account ?



CanOz said:


> Agree with Stormin about Oanda, very professional bunch, i think they almost want you to trade well, they provide that many resources.
> 
> Cheers,
> 
> ...




What resources ???

Thanks


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## AbundantIncome (28 January 2009)

AbundantIncome said:


> Ok... do they provide the data feed etc ?
> 
> 
> 
> ...




Wow !!! Read some not so pleasant experiences gained from Oanda and MB Trading ?? Is there any honest online broker in forex without fraudulent activity at all ? should I give up on this idea ???

Any fair broker with honest system at all ???

Thanks


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## white_goodman (28 January 2009)

AbundantIncome said:


> Wow !!! Read some not so pleasant experiences gained from Oanda and MB Trading ?? Is there any honest online broker in forex without fraudulent activity at all ? should I give up on this idea ???
> 
> Any fair broker with honest system at all ???
> 
> Thanks





go to forexpeacearmy got heaps of reviews.... MB's bad reviews from what i read is to do with their naivgator platform


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## Stormin_Norman (28 January 2009)

AbundantIncome said:


> Wow !!! Read some not so pleasant experiences gained from Oanda and MB Trading ?? Is there any honest online broker in forex without fraudulent activity at all ? should I give up on this idea ???
> 
> Any fair broker with honest system at all ???
> 
> Thanks




theyre platform is java based.

there are bad reviews on every broker. some people love to blame everyone but themselves for their crap trading.

i have traded with them for a couple of years. made many many thousands, and received it all at request.


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## AbundantIncome (28 January 2009)

Stormin_Norman said:


> theyre platform is java based.
> 
> there are bad reviews on every broker. some people love to blame everyone but themselves for their crap trading.
> 
> i have traded with them for a couple of years. made many many thousands, and received it all at request.




Thanks Norman ... wanna share what systems you use ? 

Are they both equally good or what is your preference and why if I may ask ??? I prefer metatrader4 platform but they are both not offering that .. scratching head ...

BTW, do they provide straight data feed ? do we have to pay for them on a monthly basis ???

Thanks ....


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## Stormin_Norman (28 January 2009)

OandA are worth USD160 mil in excess capital. i like knowing ill get my money back.

theyre transaction costs are the cheapest for a retail broker.

i use IBFX for my autotraders atm. although we'll probably recode them for java and OandA in time.

i dont know of any retail brokers who charge for data feeds for their currency market.


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## AbundantIncome (28 January 2009)

Stormin_Norman said:


> OandA are worth USD160 mil in excess capital. i like knowing ill get my money back.
> 
> theyre transaction costs are the cheapest for a retail broker.
> 
> ...




thanks for that ... wow .... even Oanda only get 3 stars and some of the comments in the peacearmy website is kinda scary ... i mean if we play by the same rule and we lose that is ok but if we are cheated/ at their mercy how could we make monies I wonder ....

MBtrading is 4 stars and still have these "awesomely scary" reviews based on experiences ... 

My dilemma is this. How small can we trade without being wiped out quickly after just starting ...

Oanda at least provide a great money transfer facility, however I still need a good charting system for them ....

MBtrading is implementing MT4 soon so that would be of benefit, yet they do not provide Electronic transfer system.

Kinda hard to decide isn't it ??? Costs with cheques clearing etc would all add up at the end with MBtrading ...

What are your thoughts/experiences ????

Thanks
AL


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## Stormin_Norman (28 January 2009)

like i said above. i use OandA as my main broker. i use IBFX as my MT4 (EA) broker.

i also use IGmarkets (sometimes for currency, mostly for other things i want to occasionally trade). 

i have recently started a 'test' account with gomarkets (who are aussie and a MT4 broker).

if you choose between the above i doubt you can go too far wrong. the small differences in their transaction costs are not as big a concern to me as my own trading mistakes.

what are the main complaints against OandA? i think theyre by far the best retail broker available.

add me via my msn link if u want,


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## alwaysLearning (28 January 2009)

Stormin_Norman said:


> like i said above. i use OandA as my main broker. i use IBFX as my MT4 (EA) broker.
> 
> i also use IGmarkets (sometimes for currency, mostly for other things i want to occasionally trade).
> 
> ...




I also use Oanda. I was just curious though--What is your leverage ratio set at? I read about your amazing record over the last 18months in a prior thread--congrats on accomplishing that 

I was on 20:1 and then later changed to 50:1 and now I'm going to change it back to 20:1


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## prawn_86 (28 January 2009)

alwaysLearning said:


> I was on 20:1 and then later changed to 50:1 and now I'm going to change it back to 20:1




Why not just adjust your lot size down?


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## alwaysLearning (28 January 2009)

prawn_86 said:


> Why not just adjust your lot size down?




Hi prawn, yeah i can do that but it's still different with the different margin ratios.

If I buy 5000 units with 20:1 margin ratio, the actual dollar value for a margin call is different to an account where you buy 5000 units with 50:1 margin ratio.

I tested this can confirm 100% that it is different value. Strange but true.

So just to be clear, if I buy the same number of units using two separate accounts with the different margin ratios, the amount the broker assigns to you for a margin call is actually different.

You can test this yourself by opening two demo accounts at Oanda and verify.


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## Stormin_Norman (28 January 2009)

yeah stands to reason that the margin amounts are different. that's what the leverage is.

for the record i use 50:1. might as well have it, even if u dont use it.

i use 300:1 on the EA accounts. and never even get close to using it.


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## alwaysLearning (29 January 2009)

Stormin_Norman said:


> yeah stands to reason that the margin amounts are different. that's what the leverage is.
> 
> for the record i use 50:1. might as well have it, even if u dont use it.
> 
> i use 300:1 on the EA accounts. and never even get close to using it.




Thanks for your response Stormin_Norman 

Just out of curiosity, how many pips do you like to take from the market per trade? Or does the amount you like to take profit on vary a fair bit?--perhaps dependent on volatility and technical support/resistance levels, fibs etc?--this is for your discretionary system, that I'm referring to.

Personally I'm starting to like taking 10pips from the market per trade and having a few trades each day.

I'm still yet to be profitable though overall, but still working hard at it


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## BentRod (29 January 2009)

AlwaysLearning.....leverage has absolutely nothing to do with anything. 

It's about how much you risk per trade and how much you make on the rest that matters.

If you are taking 10 pip profits you better have a good win ratio.


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## AbundantIncome (3 February 2009)

Hi all 

I am trialing MT4, I am wondering what is the swap thing on trade information panel ?

Is that the differential interest rate between the pair ???

Thanks


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## white_goodman (3 February 2009)

AbundantIncome said:


> Hi all
> 
> I am trialing MT4, I am wondering what is the swap thing on trade information panel ?
> 
> ...





its the swap rate which i think means the difference between interest rates...
 only affect you if you hold for a long time, not if scalping or intraday..


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## AbundantIncome (3 February 2009)

white_goodman said:


> its the swap rate which i think means the difference between interest rates...
> only affect you if you hold for a long time, not if scalping or intraday..




Hi WG, thanks for that. Cool. It make sense I guess as I executed one trade yesterday. I am wondering what is the cut off for interday. What I mean is Australian time, between one day to the next ??? It is kind confusing cos you are accessing world market everywhere ??? Do we adhere to Aussie times or what ???? Trying to avoid it if I can 

Thanks


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## Stormin_Norman (3 February 2009)

i dont worry about it.

my poor decision making costs me far more then swap rates.


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## AbundantIncome (3 February 2009)

Stormin_Norman said:


> i dont worry about it.
> 
> my poor decision making costs me far more then swap rates.




SN, thanks for that confirmation.

I just checked my demo on MT4, I just lost about 800-1k !!!

Yuck !!!

Was trying to setup stop loss and target price but i keep getting errors for some reasons ....  any tips on these apart from setting 5% stop loss ? I think am confused about the sell limit and sell stop.

Wonder I get a second demo if I lose it all


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## white_goodman (3 February 2009)

AbundantIncome said:


> Hi WG, thanks for that. Cool. It make sense I guess as I executed one trade yesterday. I am wondering what is the cut off for interday. What I mean is Australian time, between one day to the next ??? It is kind confusing cos you are accessing world market everywhere ??? Do we adhere to Aussie times or what ???? Trying to avoid it if I can
> 
> Thanks




i think the end of day in forex is after new york close and around our open... theres a period of an hour of really dropped liquidity.. thats my educated guess.


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## AbundantIncome (3 February 2009)

white_goodman said:


> i think the end of day in forex is after new york close and around our open... theres a period of an hour of really dropped liquidity.. thats my educated guess.




thanks for that ...

wondering if there is a volume open buy and sell quotes in MT4 ???

thanks again for sharing the information with a noob like me :d


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## Page (3 February 2009)

It is true that swap is the difference in the interest rats. If you are having a practice account or a real account take help of stop loss because this will help you in cutting your losses. Therefore, when you use stop loss in practice accounts that would help you when you start trading real account.


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## AbundantIncome (3 February 2009)

Page said:


> It is true that swap is the difference in the interest rats. If you are having a practice account or a real account take help of stop loss because this will help you in cutting your losses. Therefore, when you use stop loss in practice accounts that would help you when you start trading real account.





yes i surely need to learn to take losses with stop loss, i have to break through this wall !!!

thanks


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